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2024-03-31-accounts

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

REGISTERED COMPANY NUMBER: 04353734 (England and Wales) REGISTERED CHARITY NUMBER: 1092359

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

As approved by the Trustee Board 28 October 2024

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

Contents Pages
Report of the trustees……………………………….……… 3 – 8
Independent Auditor’s Report……………………….. 9 - 11
Statement of Financial Activities……………………….. 12
Cash Flow Statement ………………………………….…… 13
Balance Sheet………………………………………………..… 14 - 15
Notes to the Financial Statements ………………..… 16 - 23
Registered Company Number: 04353734 (England and Wales)
Registered Charity Number: 1092359

Registered Office: Canolfan Lafan, 2 Glanrafon, BANGOR, LL57 1LH

Trustees

Trustees
Peter Evans Chair of the Board
Matthew Powell Vice Chair
Ian Cuthbertson Treasurer (until 28thOctober 2024)
Bethan Williams Price
Huw Llwyd Rowlands
Ifan Llewelyn Jones
John Pollard
Lesley Day
Lis Crompton resigned with effect 20th August 2024
Siôn Hughes
Alison Evans Treasurer (from 28thOctober 2024)
co-opted 29th April 2024
Michelle Durrant co-opted 24th July 2024

Auditors

Barrie Buels, Crestmere Limited Chartered Certified Accountants Unit F1, Intec Ffordd Y Parc, Parc Menai, Bangor, Gwynedd LL57 4FG

Key Management

Tal Michael – Chief Executive and Company Secretary

Bankers

Barclays Bank Plc, 5-7 Bangor Street, Caernarfon, Gwynedd, LL55 1AE Nationwide Building Society, 258 High Street, Bangor, LL57 1RS

The Charity Bank Limited, Fosse House, 182 High Street, Tonbridge, TN9 1BE

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

Cyngor ar Bopeth Gwynedd Citizens Advice (CAB Gwynedd) is a registered charity and a company limited by guarantee. It is governed by a board of trustees who are also directors for the purposes of the Companies Act 2006. This is their annual report and the financial statements of the charity for the year ended 31 March 2024.

Objectives and activities

Objectives and aims

The charitable purpose of CAB Gwynedd is “to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community in Gwynedd and surrounding areas”.

The trustees have agreed the following aims:

In pursuing these aims we are focused on ensuring that advice is available when and where Gwynedd people need it and that they are able to access that advice face to face, by telephone or digitally in the way that best meets their needs. Our campaigning involves engaging with government agencies locally and nationally as both can have a significant impact on Gwynedd people and the problems they face.

In furtherance of these aims we seek to secure training and employment opportunities for local people providing bilingual digital advice, usually by phone, email or webchat, across Wales and England.

Our policy is that all staff should, once fully trained, be paid at least the Living Wage as defined by the Living Wage Foundation. From April 2024 this is set at £12 per hour.

Significant activities

We provide advice to clients across Gwynedd and beyond, usually by phone initially but with faceto-face appointments as required. The proportion of clients seeking face to face appointments increased during the year but remains significantly lower than prior to the pandemic with a significant proportion of our service delivered by phone, email, video call and webchat.

Public benefit

The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken during the year. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.

Grants

The trustees have not made grants in furtherance of the Charity's objectives during 2023-23.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

Achievement and performance

Charitable activities

2023-24 2022-23
Unique clients helped byCAB Gwynedd 6,308 7,484
Unique clients seen face to face 956 654
Issues CAB Gwynedd helped with 27,503 26,542
Clients where outcome was recorded 1,407 1,553
Total number of outcomes recorded 4,987 4,574
Clients where an incomegain was recorded 584 636
Total Incomegains £1.71m £2.89m
Total Debt clients receivingfull advice 633 435
Total arrears reported bythose clients £4.28m £3.34m
Clients where debt was written off 52 30
Total value of debt written off £659k £402k

However, the recorded outcomes represent only a small fraction of the impact of our work as we do not have the resources to follow up with every client until their issue has been resolved. National research indicates that the value of our advice far exceeds the results formally recorded on the casebook system. Using the average outcomes from national research and comparing this with the number of clients we helped with different issues, we can estimate that overall, for every £100 invested in CAB Gwynedd, during 2023-24 we delivered:

By helping stop problems occurring or escalating, we reduce the pressure on public services such as health, housing or out-of-work benefits. Total: £2.2 million (£2.3 million)

£1,926 in wider economic and social benefits (public value) (£2,872)

Solving problems improves lives – and this means better wellbeing, participation and productivity for the people we help. Total: £17.8 million (£20.1 million)

Through our advice, we can increase people’s income. We can help them get debts written-off, take up benefits they’re entitled to or get compensation for problems. Total: £14.0 million (£14.5 million)

These three viewpoints on impact (fiscal, public and people) cannot be added together.

Financial review

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

Financial position

There was a surplus for the year of £100,271 The deficit in the previous year was £25,877. The surplus will enable us to maintain reserves as required, with additional surpluses allocated to future service delivery.

In addition to continuing existing programmes, in 2023-24 we were awarded funding from the UK Government’s Shared Prosperity Fund courtesy of Cyngor Gwynedd. This has enabled us to deliver two projects: giving family budgeting advice in community settings (as part of the Multiply numeracy programme) and upskilling local people in call centre, customer services, reception and admin skills. The latter has made less of a contribution to our core activity of giving advice but has been successful against its own objectives as well as enabling us to recruit several people into substantive advice roles with CAB Gwynedd and other charities. Funding commenced in July 2023 and continues until December 2024.

Principal funding sources

The principal funding sources for the year’s operations were:

Investment policy and objectives

Our policy is that funds not required for current expenditure will be deposited in interest-bearing bank accounts with one or more secure and reputable banks in accounts providing access within a reasonable notice period.

Reserves policy and going concern

The reserves policy agreed by trustees in February 2023 is to hold unrestricted reserves of £190,000. The policy was reviewed by the Board in May 2024. Notwithstanding the increase in turnover, the Board agreed to maintain the same policy on the basis that the increase in funding was to a large extent temporary. As at 31 March 2024, the charity had unrestricted reserves

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

totalling £282,943. Based on the above policy, the board has designated a contingency reserve fund of £190,000 to provide security for the charity in the event of a shortfall in revenues from funders.

The charity’s ability to continue to provide current services is largely dependent on funding from local authorities and government agencies. The funding available for 2024-25 is projected to be just over £1M. The financial statements are prepared on a going concern basis based on the risk assessment and cash flow forecasting exercises undertaken.

Looking forward

The trustees are committed to ensuring that the funding available is used in the most effective way possible to meet our charitable objectives, ensuring that CAB Gwynedd remains a going concern. This requires us to ensure that the service offered matches the resources available. We are committed to working with other organisations to improve the effectiveness and efficiency of our operations – our commitment is to securing the advice services which the people of Gwynedd need and deserve not to a particular organisational structure. With this in mind, together with the five other Citizens Advice charities in North Wales we have established a formal consortium, which has been registered with Companies House and will be an associate member of Citizens Advice and registered with the Charity Commission.

Structure, governance and management

CAB Gwynedd is a company limited by guarantee established by its Memorandum of Association dated 2001 and governed by Articles of Association which were updated in November 2023 based on model articles agreed between the Charity Commission and Citizens Advice. It is registered with the Charity Commission. Anyone over the age of 18 years who is not a paid or volunteer worker of the Charity and any corporate body or unincorporated association interested in furthering the work of the charity, can become a member of the charity. The members each agree to contribute £10 in the event of the charity winding up. There are currently 21 individual members and 3 corporate members.

Organisational structure

CAB Gwynedd is managed by a board of trustees (directors) who are ultimately responsible for all aspects of its activities and administration. The Chief Executive is appointed by the trustees to manage the day to day operations of the charity; authority for operational matters including finance and employment has been delegated by the trustees to the Chief Executive. The board meets quarterly and there is an executive committee of four members covering management issues which meets more regularly. No trustee receives any remuneration.

The Executive Committee comprised Peter Evans (Chair), Matthew Powell (Vice Chair) and Ian Cuthbertson (Treasurer) and Siôn Hughes.

Wider network

The charity is a member of Citizens Advice (National Association of Citizens Advice Bureaux). Membership of Citizens Advice confers rights and responsibilities. As a condition of membership the charity follows a performance and quality framework consisting of a combination of selfassessment and external checking. The charity agrees to submit itself to periodic audits as is

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

reasonably required and to provide access to Citizens Advice staff or any other person authorised by Citizens Advice. The charity has to ensure that its governing body can demonstrate responsibility, accountability, and compliance with statutory legislation and show that its decisions are based on clear understanding of the relevant issues.

Key management remuneration

The remuneration of paid staff is set by reference to norms in the voluntary sector and in particular other local Citizens Advice offices. The Board has sought to follow the local government pay scheme insofar as this is affordable within available resources.

Recruitment, training and appointment of trustees

As set out in our Articles of Association, the maximum number of trustees is fifteen and there are currently eleven. In line with best practice, vacancies for trustees are advertised and applicants are interviewed by a panel. However, any member can nominate an individual to be a trustee by giving notice of their intention to nominate that individual between fourteen days and thirty-five days before the AGM.

New trustees undergo an induction session to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan, and recent financial performance of the charity. During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external events.

Related parties

As stated above, CAB Gwynedd is a member of Citizens Advice, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. It also provides a secure electronic case management tool which is used by the charity. Operating policies are based on national guidance and model procedures where provided, but are independently determined by the trustee board of the charity, in order to fulfil its charitable objects and in compliance with national membership requirements.

The charity also co-operates and liaises with a number of other advisory services, local charities and council departments on behalf of clients. Where one of the trustees holds a position in a related organisation, they may be involved in discussions regarding that organisation but not in the ultimate decision-making process.

Risk management

The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against e.g. fraud and error.

The trustees recognise that any major risk the charity is exposed to needs to be reviewed and systems put in place to mitigate those risks. To that end the charity has produced a risk register and action plan to address priority risks and set up a framework for the continuous management and monitoring of risks. Systems are in place to mitigate the risks as they are identified. The risk register is regularly reviewed and in response to medium risks improved emergency procedures and contingency plans are developed.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024

Statement of trustees’ responsibilities

The trustees (who are also directors of CAB Gwynedd for the purposes of company law) acknowledge their responsibility for preparing the report of the trustees and the financial statement in accordance with applicable law, and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice GAAP), including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for ensuring that proper accounting records are kept which disclose with reasonable accuracy at any time, the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on

and signed on its behalf by:

Peter Evans - Trustee, and Chair of the Board

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

Opinion

We have audited the financial statements of Cyngor ar Bopeth Gwynedd Citizens Advice (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment and likely future developments, including in relation to the legal and regulatory framework applicable

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES

and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

On response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

Barrie Buels FCCA FCIE (Senior Statutory Auditor)

Crestmere Limited Chartered Certified Accountants Statutory Auditor

28 October 2024

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

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STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE REPORT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income and Endownments from:
Donations and Legacies
2
Charitable Activities
3
Other
4
Total Income
Expenditure on:
Charitable Activities
5
Total Expenditure
Net Income/(Expenditure) for
the financial year
Transfers between Funds
13
Net Movement in Funds
Reconciliation of Funds:
Total funds brought forward
Total funds Carried Forward
13		 Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
£
£
£
£
2,650
-
2,650
22,551
164,050
836,981
1,001,031
758,183
18,433
-
18,433
5,447
185,133
836,981
1,022,114
786,181
62,664
859,179
921,843
812,058
62,664
859,179
921,843
812,058
122,469
(22,198)
100,271
(25,877)
(22,198)
22,198
-
-
100,271
-
100,271
(25,877)
182,673
-
182,673
208,549
282,943
-
282,943
182,673

The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.

The notes on pages 16 - 23 form part of these financial statements.

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STATEMENT OF CASH FLOWS AT 31 MARCH 2024

Operating activities
Net cash (used in)/provided by operating activities
Interest paid
Investing activities
Investment income
Depreciation
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at beginning of the year
Total cash and cash equivalents at end of the year		 2024
2023
£
£
(39,862)
(26,412)
(175)
(268)
(40,037)
(26,680)
3,623
1,758
281
-
3,904
1,758
(36,133)
(24,922)
211,420
236,342
175,287
211,420

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BALANCE SHEET AT 31 MARCH 2024

Note Total Funds
31 March 2024		 Total Funds
31 March 2023
£ £
Fixed Assets
Equipment - cost 1,125 -
Equipment - depreciation 281 -
11 844 -
Current Assets
Debtors 12 168,815 52,321
Cash 175,287 211,421
344,102 263,742
Liabilities
Creditors - amounts falling due
within one year 13 62,002 81,069
Net Current Assets 282,100 182,673
Net Assets 282,943 182,673
Funds of the Charity
Restricted funds - -
Unrestricted funds 92,943 -
Designated funds 190,000 182,673
282,943 182,673

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BALANCE SHEET AT 31 MARCH 2024 – continued

In recent years, the charitable company has been entitled to exemption from audit under Section 477 of the Companies Act 2006 as the income and expenditure in each year was less than £1m. For the year ended 31 March 2024 an audit is required and has been undertaken.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The Trustees acknowledge their responsibilities for:

a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006, and

b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The financial statements were approved by the board of trustees on

and signed on its behalf by:

Peter Evans, Trustee & Chair of the Board

Alison Evans, Trustee & Treasurer

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

1.1 Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under Financial Reporting Standard 102, have been prepared in accordance with the Charities SORP (FRS102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The charitable company is not a member of a group and the financial statements cover its activities as an individual entity. The financial statements are prepared under the historical cost convention and in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The Trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern.

1.2 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives of the company at the discretion of the trustees.

Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors, or which have been raised by the company for specific purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Income

All income is recognised in the Statement of Financial Activities (SOFA) once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donated services and facilities are included at the value to the charity where this can be quantified and is material except that the value of services provided by volunteers has not been included in these accounts.

Voluntary income is received by way of grants (including Government grants), donations and gifts, including gift aid where applicable, and is included in full in the statement of financial activities when receivable. Income from grants, where related to performance and specific deliverables, is accounted for when it is probable that the income will be received and the amount can be measured reliably and it is not deferred.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1.4 Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The primary functional activity of the charity is the giving of free and confidential advice to the public. It includes both costs that can be allocated directly to this activity and those costs of an indirect nature necessary to support them. All costs have been allocated to activity cost categories on a basis consistent with the use of resources.

Support costs include all those overhead costs of office accommodation, utility services and other services and costs which support the charity’s activities. Also the costs of meeting the constitutional and statutory requirements of the charity and costs linked to the strategic management of the charity.

1.5 Operating leases and hire purchase agreements

The charity classifies leases of property and printing and telecommunications equipment as operating leases; the title to the property and equipment remains with the lessor. Rental charges are expensed on a straight line basis over the term of the lease.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets for use by the charity are stated at cost or, in cases where fixed assets have been donated, at valuation at time of acquisition, less depreciation. The cost of minor additions or those costing below £500 are not capitalised.

1.7 Transfers between funds

Any restricted funds that over-spent and are in deficit, are supported using core funding by means of a transfer between funds.

1.8 Pension costs and other post-retirement benefits

The charitable company enrols staff in a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Differences between contributions payable in the year and contributions paid are shown as either accruals or prepayments in the balance sheet.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2
Donations & Legacies
Voluntary Income
Donations		 Total
Total
Unrestricted
Restricted
2024
2023
£
£
£
£
2,650
-
2,650
22,551
2,650
0
2,650
22,551

2023/24 Donations included an annual donation from CK Tools of £250, plus £1,500 from Bangor City Council and £150 from Cyngor Cymuned Llanelltyd

2022/23 Donations included an annual donation from CK Tools of £250, plus £22,191 from the late Miss ML Hughes.

3 Income from Charitable Activities Total Total
Unrestricted Restricted 2024 2023
Advice Services: £ £ £ £
Cyngor Gwynedd 148,568 40,000 188,568 178,332
Citizens Advice (a) 457,193 457,193 456,911
Adra Tai Cyf - 15,000 15,000 15,000
Other 15,482 49,052 64,534 4,773
Banc Bwyd Arfon - 43,547 43,547 18,182
Energy funds (b) - 105,227 105,227 84,985
Shared Prosperity Fund - 126,962 126,962 -
164,050 836,981 1,001,031 758,183

Of the 2023 total £758,183, £138,462 was Unrestricted and £619,722 was Restricted.

(a) Citizens Advice includes Single Advice funding from Welsh Government - Specialist Debt, Community Focus, Claim What's Yours and Care Leavers projects and Help to Claim funding from UK Department of Work and Pensions

(b) Energy funds includes EAP, Carbon Monoxide Advice, Warmer Wales, Force for Energy & Warmer Homes Discount

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4
Other Income
Bank Interest
Other Income
Total		 Total
Total
Unrestricted
Restricted
2024
2023
£
£
£
£
3,623
-
3,623
1,758
14,811
-
14,811
3,689
18,433
-
18,433
5,447

Primarily income for sub-letting Pwllheli offices. The 2023 total of £5,447 was all Unrestricted.

5 Charitable Activities Costs Costs Total Total
Unrestricted Restricted
Advice & Advice & 2024 2023
Information Information
Charitable activities Services Services
Direct Costs 40,847 632,231 673,078 563,769
Support costs (see below) 21,817 226,948 248,765 248,289
Total 62,664 859,179 921,843 812,058
Support costs
Salaries/management 12,994 111,050 124,044 126,050
Governance 74 3,296 3,370 3,424
Other 8,750 112,601 121,351 118,815
Total 21,817 226,948 248,765 248,289

Support costs are shared overhead costs, shared on the basis of staff FTEs. Of the 2023 total of £248,289, Unrestricted total was £42,524, and the Restricted total was £205,766

6

Net Income or Expenditure for the year
2024 2023
This is stated after charging: £ £
Independent Examiner's fee 3,120 1,320
Operating lease costs (buildings) 29,090 36,894
Hire of office equipment 13,728 9,526

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

Page 20

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7 Information about Trustees, Directors and Employees

Wages and salaries
Social Security costs
Pension costs
Total		 2024
2023
£
£
701,090
618,315
51,370
37,258
24,694
22,836
777,154
678,409

The average number of FTE employees, analysed by function was:

Chief Officer
Advice & Information Services
Admin. & Support
Total		 2024
2023
0.8
0.9
23.9
21.6
3.0
2.5
27.7
25.0

No employee received remuneration of more than £60,000.

The charity considers its key management personnel comprise the trustees and the chief executive. Total emoluments, including pension contributions and Employer’s NI, of the key management personnel were £47,948 (2023 - £49,583).

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2023 – £nil).

There were expenses reimbursed to trustees during the year of £93 (2023: £47)

The trustees had indemnity insurance in place throughout the year.

9 Pensions

The charitable company enrols staff in a defined contribution pension scheme administered by Nest under auto-enrolment regulations. The pension cost charge for the year represents contributions payable by the charitable company to the fund and amount to £24,694 (2023: £22,836).

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

Page 21

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10 Comparatives for the statement of financial activities – previous year

Income and Endowments from:
Donations and Legacies
Charitable Activities
Other - including Fundraising
Total Income
Resources expended
Charitable activities
Total resources expended
Net Income/(Expenditure) for the financial year
Transfers between funds
Net movements in Funds
Reconciliation of Funds:
Total funds brought forward
Total Funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total Funds
2023
£
£
£
22,551
-
22,551
138,462
619,721
758,183
5,447
-
5,447
166,460
619,721
786,181
131,503
680,555
812,058
131,503
680,555
812,058
34,957
(60,834)
(25,877)
(60,834)
60,834
(25,877)
-
(25,877)
208,549
-
208,549
182,672
-
182,672

11 Fixed assets

11
Fixed assets
Improvements to Furniture Equipment
leasehold properties & fittings Total
Cost £ £ £
At 1 April 2022 and 31 March 2023 345,858 44,040 - 389,898
Additions 2023-24 - - 1,125 1,125
345,858 44,040 1,125 391,023
Depreciation
At 1 April 2022 and 31 March 2023 345,858 44,040 - 389,898
Annual Charge 2023-24 - - 281 281
345,858 44,040 281 390,179
Net book value at end 2022 and 2023 - - - -
Net book value at 31 March 2024 - - 844 844

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

Page 22

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12
Accrued Income
Prepayments
Trade Debtors
13
Accounts payable
Accruals and Deferred Income
Others
Debtors - amounts falling due within one
year
Creditors - amounts falling due within one
year
Other creditors including tax and social
security
14
Movement in Funds
Net
At 1 April
movement
2023
in funds
£
£
Restricted Funds:
Advice services
-
(22,198)
-
(22,198)
Unrestricted Funds:
Designated reserve fund
182,672
-
General fund
-
122,469
182,672
122,469
Total Funds
182,672
100,270		 12
Accrued Income
Prepayments
Trade Debtors
13
Accounts payable
Accruals and Deferred Income
Others
Debtors - amounts falling due within one
year
Creditors - amounts falling due within one
year
Other creditors including tax and social
security
14
Movement in Funds
Net
At 1 April
movement
2023
in funds
£
£
Restricted Funds:
Advice services
-
(22,198)
-
(22,198)
Unrestricted Funds:
Designated reserve fund
182,672
-
General fund
-
122,469
182,672
122,469
Total Funds
182,672
100,270		 2024
2023
£
£
88,778
46,563
5,552
4,686
74,486
1,072
168,815
52,321
2024
2023
£
£
9,104
1,362
20,180
18,098
30,955
57,400
1,764
4,210
62,002
81,070
Transfers
At 31 March
in funds
2024
£
£
22,198
-
-
(22,198)		 22,198
-
182,672
-
-
122,469		 7,328
190,000
(29,526)
92,943
182,672
122,469		 (22,198)
282,943
182,672
100,270		 -
282,943

Transfers between funds: Any restricted funds that have overspent and are in deficit are supported by core funding by means of a transfer between funds.

CYNGOR AR BOPETH GWYNEDD CITIZENS ADVICE

Page 23

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Purpose of restricted funds:

The total for advice services comprises:

Both are administered through Citizens Advice.

15 Commitments under operating leases

Minimum lease payments under non-cancellable leases fall due as follows:

Operating Leases

Operating Leases
Within one year
Between two and five years		 2024
2023
£
£
42,818
44,182
48,289
82,107
91,107
126,289

16 Related Party Transactions

There were related party transactions between Cyngor Ar Bopeth Gwynedd Citizens Advice and Citizens Advice (National Association of Citizens Advice Bureaux) during the year.

The charity paid £7,645 to Citizens Advice in membership fees and to cover the cost of insurance, financial support, and information services (2023: £11,113).

No amounts were outstanding at the year end.

17 Taxation

The company, being a registered charity with minimal trading income, has been granted exemption from corporation tax under Section 505 of the Income and Corporation Taxes Act 1988. No provision for taxation has therefore been made in these accounts.