Company registration number.. 4361560
Charity registration number.. 1092539
Citizens Advice West Oxfordshire
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
Just Audit & Assurance Ltd
37 Market Square
Witney
Oxfordshire
OX28 6RE

Citizens Advice West Oxfordshire
Contents
Reference and Administrative Details
Trustees, Report
2to5
Independent Examiner's Report
Slalemenl of Financial Activities
7108
Balance Sheet
Notes lo the Financial Slatemenls
10t018

Citizens Advice West Oxfordshire
Reference and Administrative Details
Trustees .
Suzi Coul, Chair
Mike King, Chair (resigned 28 February 2024)
Mike Alexander
Mark Beer
Jim Bradshaw (appointed 24 May 2023 and resigned 27 October
20231
Lucy Mae Burnet {resigned 11 October 2023)
Paul Currah
Gordon Graylish
Graham Matthews (resigned 11 October 2023)
Charlie Maynard
Christine Murphy, Treasurer
Gary Nicholls (appointed 28 February 2024)
David Whalley (appointed 28 February 20241
Monica Wilson
Secretary
Mike Alexander
Charity Registratlon Number
1092539
Company Registratlon Number 4361560
Reglstered Offlce
The Old Print House
Marlborough Lane
Witney
Oxon
OX28 6DY
Citizens Advice Wesl Oxfordshire operates from two premises in Witney and a number of outreach
locations across Wesl Oxfordshire. The Old Print House, Marlborough Lane, Witney is the main
administrative office and from which the Chief Officer, Teresa Archer, takes responsibility for the day
lo day running of the organisation.
Independent Examiner
Just Audit & Assurance Ltd
37 Market Square
Witney
Oxfordshire
OX28 6RE
Bankers
Barclays Bank
30 Market Square
Witney
Oxon
OX28 68J
Page 1

Citizens Advice West Oxfordshire
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 March 2024.
Objectives and activities
Objects and aims
The company is a charity and exists to promote any charitable purpose for the benefit of the
community in Wesl Oxfordshire by the advancement of education, the protection and preservation of
health and the relief of poverty, sickness and distress.
The Citizens Advice service provides free, independent, confidential and impartial advice to everyone
on their rights and responsibilities. It values diversity, promotes equality and challenges
discrimination.
The service aims-.
To provide the advice people need for the problems they face
To improve the policies and practices that affect people's lives.
The charity's aims are lo..
deliver an efficient service within the funds deemed by the Board lo be available for the year and
which meets the perceived needs of Wesl Oxfordshire
seek a very high client satisfaction rating and a strong performance in the Citizens Advice audits,
which take place every three years, and cover compliance with Citizens Advice procedures and
quality of advice
extend the core service to provide specialist advice and case work in areas which address
perceived local needs e.g.: pensions, rural problems, debt, etc. and whose funding contributes lo
CAWO'S overheads
devote particular attenlion to the learning and development of staff and volunteers
structure the Trustee Board so that its members provide a range of skills which assist in the
charity's efficient performance and development. These skills comprise.. human resource
management, finance, law, business. information technology, publicity and media. planning, health &
safety and fund raising.
develop an effective fund-raising ability within the charity so that essential capital projects may be
undertaken which ensure that the charity can have adequate accommodation and modern office
equipment.
Identify, research and act upon local issues and contribute towards Citizens Advice national
research and campaigns
Page 2

Citizens Advice West Oxfordshire
Trustees. Report
Public benefit
The Iruslees confirm that they have complied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
Our objective is to provide free advice for all and lo help improve social policies. This report,
particularly the 'Achievements and performance, section below, amply demonstrates the very real
difference we make to the lives of the people of West Oxfordshire,
We believe that our activities help toward achieving the following public benefits:
the prevention or relief of poverty
the advancement of citizenship or community development
Ihe advancement of human rights, conflict resolution or reconciliation. the promotion of racial
harmony and equality and diversity
the relief of those in need by reason of financial or social hardship. age, gender, sexuality, ethnicity,
religion, ill-health, disability, or other disadvantage.
Structure, governance and management
Nature of governlng document
Citizens Advice West Oxfordshire {"CAWO"} is a company limited by guarantee and a registered
charity governed by ils memorandum and articles of association. It also aims lo comply with the
principles laid down by the National Association of Citizens Advice Bureaux. The directors of the
charity, who are appointed by the members in general meeting, nominated by member organisalions
or co-opted by the Trustee Board, are its trustees for the purposes of charity law and throughout this
report are collectively referred lo as the Iruslees.
Recrultment and appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law. They are
elected al an annual general meeting and serve for a Ihree-year period after which they may be
re-elected. New Trustees are recruited mainly from applicants volunteering through REACH or other
more local connections and personal recommendations. Candidates are interviewed by the Chair and
one other trustee following an information meeting with the Chief Officer. If acceptable, the candidate
then attends a Trustee Board Meeting as an observer and is encouraged to speak on the issues
under examination. Al the end of the meeting the trustees vote on whether or not lo appoint the
candidate. CAWO'S articles provide for West Oxfordshire District Council lo appoint a member lo the
Board with voting right in recognition of their key role as one of CAWO'S major funders. The WODC
member is not required to be a Trustee.
Induction and training of trustees
New Trustees receive localised induction in-house from the Chair, the Chief Officer and the Learning
and Development Officer. Trustees are given electronic access to all policies and procedures,
including information detailing their responsibilities which includes all important governance
documents. After Ihis, new trustees are encouraged lo attend structured training provided by the
national organisation Citizens Advice around Citizens Advice policies and procedures and the
responsibilities of trustees, as well as a range of online courses relating to trustees.
Page 3

Citizens Advice West Oxfordshire
Trustees, Report
Organisational structure
The Trustee Board meets a minimum of four limes a year and is supported by sub committees for..
People and Finance
Governance
Building, Systems and Infraslruclure
Communications. Marketing and Fundraising
which also aim to meet quarterly. Between meetings the Chief Officer, who is responsible for ensuring
that CAWO delivers the services specified and that the key performance indicators and the
requirements of funders are mel, consults with the Chair and Trustee Board members responsible for
finance, information lechnology, health and safely, publicity and media, legal and social policy as
appropriate to ensure the continued smooth running of the organisalion.
Whilst this organisation is independent and self-managed many policies and procedures are laid down
by Citizens Advice nationally, particularly lo ensure that advice given is of the highest possible quality.
Audits are carried out by them to ensure that relevant standards are being met.
Relationships with related partles
Christine Murphy
Christine Murphy is a trustee board member of Citizens Advice Oxfordshire
Major risks and management of those risks
Risk Managemenl
Trustees have worked on a Corporate Risk Management exercise. A risk management strategy and
risk register were agreed by the Trustee Board. The Trustees recognise that any major risks lo which
lo which Ihe charity is exposed need lo be reviewed and systems pul in place lo mitigate those risks.
To that end we are continually monitoring and managing our risk. reviewing the corporale risk register
and ensuring action plans are in place lo mitigate the key risks.
Included in external risks is that of the loss of funding. The effects of this have been minimised by the
procedures in place, which have resulted in lunding being secured from a variety of sources. The
charity continues lo seek to diversify its funding sources. Internal risks are minimised by the
implemenlalion of procedures for authorisation of all transactions and projects and lo ensure
consistent quality of delivery for all operational aspects of the charitable company. These procedures
are periodically reviewed to ensure that they still meet the needs of the charity.
Statement of trustees. responsibilities
The trustees (who are also the directors of Citizens Advice Wesl Oxfordshire for the purposes of
company lawl are responsible for preparing the trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom
Generally Accepted Accounting Praclicel, including FRS 102 "The Financial Reporting Standard
applicable in the UK and Republic of Ireland"
Company law requires the trustees lo prepare financial statements for each financial year. Under
company law Ihe trustees must not approve the financial statements unless they are satisfied thal
they 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 ils income and expenditure, of the charitable
company for that period. In preparing these financial statements, the trustees are required to..
Page 4

Citizens Advice West Oxfordshire
Trustees. Report
select suitable accounting policies and apply them consistently.,
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudenl.,
state whether applicable accounting standards, comprising FRS 102 have been followed, subject
lo any malerial departures disclosed and explained in the financial statements,, and
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy al any lime the financial posilion of the charitable company and enable them lo ensure that
the financial slalements 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.
The Iruslees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Reappointment of Independent Examiner
A resolution will be proposed lo the Annual General Meeting that Just Audit & Assurance Lld be
appointed as Independent Examiner for the ensuing year.
The annL¢al report was approved by the Irustees of the charity on 24 September 2024 and signed on
its behalf by..
Christine Murphy
Trustee
Page 5

Citizens Advice West Oxfordshire
Independent Examiner's Report to the trustees of Citizens Advice West
Oxfordshire {'the Company,)
I report lo the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibilities and basis of report
As the charity's trustees of the Company {and also its directors for the purposes of company law} you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('Ihe 2006 Act'i.
Having satisfied myself that the accounts of the Company are not required lo be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination
of your charity's accounts as carried out under section 145 of the Charilies Act 2011 ('the 2011 Act,).
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145{51(b) of the 2011 Act.
Independent examiner's statement
Since the Company's gross income exceeded £250,000 your examiner musl be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake Ihe examination
because l am a member of , which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come lo my allenlion in connection
with the examination giving me cause to believe..
1. accounting records were not kept in respect of Citizens Advice West Oxfordshire as required by
section 386 of the 2006 Act., or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounls give a 'lrue and fair view, which is not a matter
considered as parl of an independent examination., or
4. the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102),
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Just Audit & Assurance Ltd
37 Market Square
Wilney
Oxfordshire
OX28 6RE
25 September 2024
Page 6

Citizens Advice West Oxfordshire
Statement of Financial Activities for the Year Ended 31 March 2024
{Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Note
Income from:
Donations and Charitable Activities
Investment income
Other income
247,059
1.526
3,551
519.586
766,645
1,526
3,551
Total income
252,136
519,586
771,722
Expenditure on:
Charitable aclivilies
Support Costs
Total expenditure
370,974
139,123
380,900
139,123
751.874
231,851
520,023
751,874
Nel incomel(expenditure)
Transfers between funds
20,285
(437)
(437)
437
19,848
Net movement in funds
19,848
19,848
Reconciliation of funds
Total funds broughl foward
281,134
281,134
Total funds carried forward
14
300,982
300.982
The notes on pages 10 10 18 form an integral part of these financial stalements.
Page 7

Citizens Advice West Oxfordshire
Statement of Financial Activities for the Year Ended 31 March 2024
{Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
r_lor_y￿1r_lnQQ￿1P. and_Exwenditure Account
Unrestricted
funds
Restricted
funds
Total
2023
Note
Income from..
Donations and Charitable Activities
Investment income
Other income
217,177
64
11,135
507.591
724,768
64
11,135
Total income
228,376
507,591
735,967
Expenditure on..
Charitable activities
Support Costs
366,214
127,0481
380,S43
127,048
746,757
Total expenditure
239,166
507,591
746,757
Nel expenditure
110,790)
10.790
Nel movement in funds
(10,7901
110,790)
Reconciliation of funds
Total funds brought foNard
291,924
291,924
Total funds carried forward
14
281.134
281,134
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 10 to 18 form an integral part of these financial slalements.
Page 8

Citizens Advice West Oxfordshire
(Registration number: 4361560)
Balance Sheet as at 31 March 2024
2024
2023
Note
Current assets
Debtors
Cash at bank and in hand
53,181
342,635
39,051
379.524
395,816
418,575
Credltors: Amounts falling due wlthin one year
10
(94,834)
(137.4411
Net assets
300,982
281.134
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Other reserves
173,982
127,000
281,134
Total unrestricted funds
300,982
281,134
Total funds
300,982
281,134
For the financial year ending 31 March 2024 the charity was enlilled to exemption from audit under
sectior1477 of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the charity to obtain an audit of ils accounts for the year in
queslion in accordance with section 476., and
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect lo accounting records and the preparation of accounts.
The financial statements on pages 7 10 18 were approved by the Iruslees, and authorised for issue on
24 September 2024 and signed on their behalf by..
Christine Murphy
Trustee
The notes on pages 10 to 18 form an integral part of these financial statements.
Page 9

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee. incorporated in , and consequently does not have share capital.
Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the
charity in Ihe event of liquidation.
The address of its registered office is..
The Old Print House
Marlborough Lane
Wilney
Oxon
OX28 6DY
These financial statements were authorised for issue by the Iruslees on 24 September 2024.
2 Accounting policles
Summary of slgniflcant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied lo all the years presented, unless otherwise
staled.
Statement of compliance
The financial statements have been prepared in accordance with 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}I (issued in October 20191 (Charities SORP IFRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
8asls of preparatlon
Citizens Advice West Oxfordshire meets the definition of a public benefit entity under FRS 102.
Assets and liabilities afe initially recognised al historical cost or transaction value unless otherwise
stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern nor any significant areas of uncertainly that affect the carrying value of assets held by
Ihe charity.
Page 10

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
Income
All income is recognised once the charity has entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Grants receivable
Grants are recognised when the charity has an entitlement to the fvnds and any conditions linked to
the grants have been met. Where performance conditions are attached to the grant and are yel lo be
mel, the income is recognised as a liability and included on the balance sheet as deferred income to
be released.
Charltable activities
Donations
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charity before the charity is entitled lo the funds, the income is deferred and not
recognised until either those condilions are fully met, or the fulfilment of those conditions is wholly
within the control of the charity and il is probable that these conditions will be fulfilled in the reporting
period.
Conlracls
Contracts are recognised based on the accrual model and are measured at the fair value of the asset
received or receivable. Contracts are classified as relating either to revenue or to assets. Contracts
relating lo revenue are recognised in income over the period in which the related costs are
recognised. Contracts relating lo assets are recognised over the expected useful life of the asset.
Where parl of a contract relating to an asset is deferred, il is recognised as deferred income.
Expendlture
All expenditure is recognised once there is a legal or constructive obligation to that expenditure. it is
probable settlement is required and the amount can be measured reliably. All costs are allocated lo
the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot
be directly attributed to particular headings they have been allocated on a basis consislenl with the
use of resources, with central staff costs allocated on the basis of time spent. and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of ils activities
and services for ils beneficiaries. It includes both costs that can be allocated directly to such activities
and Ih05e costs of an indirect nature necessary lo support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources, for example, allocating properly costs by floor areas, or per
capila, staff costs by the time spent and other costs by their usage.
Page11

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
Governance costs
These inc5ude the costs attributable lo the charills compliance with constitutional and statutory
requirements, including audit, strategic management and trustees meetings and reimbursed
expenses.
Taxation
The charity is considered to pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore il meets the definition of a charitable company for UK corporation lax purposes.
Accordingly, the Charity is potentially exempl from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are
applied exclusively to charitable purposes.
Tangible fixed assets
With effect from 1 April 2020 smaller items of computer and office equipment with a recommended
useful life of less than 3 14 years have been wrillen off when acquired.
Tangible fixed assets are stated al cosl, net of deprecialion.
Depreciation and amortisatlon
Depreciation is provided on tangible fixed assets so as to Wfile off the cost or valuation, less any
estimated residual value, over their expected useful econom ic life as follows..
Asset class
Office equipment and furniture
Computer equipment
Improvements and adaplalions to leasehold properly
Depreciation method and rate
Straight line 4 years
Straight line 3 years
period of the lease
Research and development
Research and development expenditure is written off as incurred.
Debtors
Debtors are amounts due from contract providers and donors for services performed in the ordinary
course of business.
Debtors are recognised initially al the transaction price. They are subsequently measured at
amortised cost using the effective interesl method, less provision for impairment. A provision for the
impairment of debtors is established when there is objective evidence that the charity will not be able
lo collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other shorl-term highly
liquid investments that are readily convertible lo a known amount of cash and are subject to an
insignificant risk of change in va5ue.
Page 12

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors
Creditors are obligations lo pay for goods or services that have been acquired in the ordinary course
of business from suppliers. Accounts payable are classified a5 current liabilitie5 if the charity does not
have an unconditional right, al the end of the reporting period. to defer settlement of the creditor for al
least twelve months after the reporting date. If there is an uncondilional right to defer selllemenl for al
least twelve months after the reporting date, they are presented as non-currenl liabilities.
Creditors are recognised initially at the transaction price and subsequently measured at amorlised
cost using the effective interest method.
Fund structure
Unreslricled income funds are general funds that are available for use at the trustees discretion in
furtherance of the objectives of the charity.
Designated funds are unreslricled funds set aside for specific purposes at the discretion of the
trustees,
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restricted lo that area or purpose.
3 Income from donations and charltable activities
Unrestricted
funds
General
Restricted
funds
Total
funds
Donations.,
Donations
Grants, including capital grants,.
Government contracts and grants
Contracts and grants from other agencies
37,578
37,578
70,000
139,483
410,595
108,991
480,595
248,472
Total for 2024
247,059
519,586
766,645
Total for 2023
217,177
507,591
724,768
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Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Expenditure on charitable activities
Vnrestricted
funds
General
Restricted
funds
Total
2024
Note
Staff costs
Travel and subsistence
External training
Rent
Insurance
Repairs and renewals
Utilities and rales
Telephone
Printing, postage and stationery
Subscriptions (inc CA membership
feel
Compuler support
Miscellaneous
Governance costs
259,166
1,345
726
19,031
5,137
17,656
6,669
9,342
5,050
373,372
2.444
632,538
3,789
726
21,631
5,137
17,721
6,669
9,342
5,114
2,600
65
64
7,899
30.883
5,627
2,443
1,169
1,161
25
9,068
32,044
5,652
2,443
370,974
380,900
751,874
Unrestricted
funds
General
Restricted
funds
Total
2023
Note
Slaff costs
Recruitment
Travel and subsistence
External training
Rent
Insurance
Repairs and renewals
Ulililies and rates
Telephone
Printing, postage and slalionery
Subscriptions (inc CA membership
fee)
Computer support
Miscellaneous
Governance costs
238,439
973
1,060
2,471
17,223
5,294
16,963
5,594
12,213
7,194
370,860
609,299
973
1.370
3.246
18.698
5,294
16,963
5,594
12,213
7,288
310
775
1,475
94
8,132
43,959
4,411
2,288
1.182
2,601
3,246
9,314
46,560
7,657
2,288
366.214
380,543
746,757
Page 14

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Trustees remuneration and expenses
No truslees, nor any persons connected with Ihem, have received any remuneralion from the charity
during the year.
A total of £120 in expenses was reimbursed lo one trustee during the year for meeting room hire
12023 - two trustees reimbursed £1751
6 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Wages and Salaries
Social security costs
Pension contributions
568,872
41,882
21,784
632,538
550,624
37,399
21,276
609.299
Total employer costs
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year expressed as full time equivalents was as follows:
2024
2023
No
Managers
Advice coordinators, training officers and project workers
Administration
26
23
31
29
No employee received emoluments of more than £60,000 during the year.
7 Taxation
The charity is a registered charity and is therefore exempl from taxation.
Page 15

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Tangible fixed assets
Office
Leasehold
equipment
Improvements and furniture
Computer
equipment
Total
Cost
Al 1 April 2023
73,784
492
24,030
98,306
At 31 March 2024
73,784
492
24,030
98,306
Depreciation
At 1 April 2023
73,784
492
24.030
98,306
At 31 March 2024
73,784
492
24,030
98,306
Net book value
At 31 March 2024
At 31 March 2023
Included within the nel book value of land and buildings above is £Nil 12023 £Nil} in respect of
freehold land and buildings and £Nil12023 - £Nil l in respect of leaseholds.
9 Debtors
2024
2023
Debtors
Accrued income
50.393
2,788
34,051
5,000
53,181
39,051
10 Creditors: arnount8 falling due within one year
2024
2023
Creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
5,779
9,365
8,918
5,765
65,007
2,122
5,821
8,942
2,071
118,485
94,834
137,441
Page 16

Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
11 Pension and other schemes
Defined beneflt pension schemes
Oxfordshire Pension Fund
The charity participated as an admitted body in the Oxfordshire Pension Fund {"OPF") which is
administered by Oxfordshire County Council. An actuarial report has been obtained of the financial
position of the charity's portion of the assets and liabilities of the scheme on 29 February 2024 and is
the most up lo dale information lo hand.
The actuaries concluded that on the basis of a cessation of the charity's activities there would be an
excess of assets over pension liabilities for the charity s part of the scheme amounting to £60,000.
Previously 3 deficit of £243,000 had been calculated based on an actuarial valuation in 2017. As a
result, in 2018 £243,000 was transferred from Unrestricted Funds to a designated Pension Reserve
fund (shown in note 121.
In these 2023124 accounts £243,000 has been transferred from Pension Reserve back to the
Unrestricted Fund (also shown in note 12). The Pension Reserve is no longer required.
The trustees made a formal request lo cease participation in the OPF in June 24. We await the formal
acceptance.
12 Commitments
Capltal commitments
The total amount contracted for but not provided in the financial statements was £Nil (2023 £Nill.
Other financial commitments
Operating lease payments amounting to £17,000 {2023'. £17,000) are due in the next twelve months,
all of which is in respect of a lease for land and buildings which expires in less than three years.
The total amount of other financial commitments not provided in the financial statements was £Nil
{2023 £Nil l.
13 Trustee Indemnity Insurance
The charity holds a trustee indemnity insurance policy. The cost cannot be determined as it is parl of
a larger combined insurance policy.
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Citizens Advice West Oxfordshire
Notes to the Financial Statements for the Year Ended 31 March 2024
14 Funds
Balance at
1 April
2023
Balance at
31 March
2024
Incoming
resources
Resources
expended
Transfers
Unrestricted funds
General
38,134
252,136
{231,851)
115,563
173,982
Designated
243,000
116,000
127,000
Total unrestricted funds
281,134
252,136
{231,851)
520,023
(4371
437
300,982
Restricted funds
519,586
Total funds
281,134
771,722
751,874)
300,982
Balance at 1
April 2022
Incornlng
resources
Resources
expended
Balance at 31
March 2023
Vnrestricted funds
General
48,924
228,376
(239,166)
38,134
Designated
243,000
243,000
Total unrestricted funds
291,924
228,376
(239,1661
507,591
281,134
Restricted funds
507,591
Total funds
291,924
735,967
746,757
281,134
The trustees believe that the charity should hold financial reserves in order lo ensure that the charity
can continue lo operate and meet the needs of clients in the event of unforeseen and
potentially financially damaging circumstances. It has considered the reliability and continuance of
future funding, liming of cash flows and working capital requirements, cover for unplanned emergency
repairs and potential liabilities relating to staff should there be closure of a particular activity.
Designated reserve5
Designated reserves are the portion of the unrestricted reserves set aside under the reserves policy.
A key reslricled reserve relating lo the Local Government Pension Scheme has been eliminated in
2024.
General reserve
The trustees consider that il is prudent to set aside an amount equivalent lo four months, operating
expenditure to meet unexpected events such as a significant loss of funding.
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