citizens advice Southampton SOUTHAMPTON CITIZENS ADVICE BUREAU (a company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 March 2024 Company No. 04391330 Charity No. 109367
Company No. 04391330 Charity No. 1093678 Southampton Citizens Advice Bureau TRUSTEES. REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 March 2024 Trustees and Directors Report Statement of Trustees and Dlrectors Responslbllotles Auditors Report Statement of Financlal Artlvltles 13 15 20 Balance Sheet 21 Cash Flow Statement 22 Notes to the Flnanclal Statements 23
Company No. 04391330 Charity No. 1093678 Southampton Citizens Advice Bureau TRUSTEES'AND DIRECTORS. REPORT For the year ended 31 March 2024 The Trustee5 (who are also directors of the charity for the purposes of the Companies Act) present their report and independently audited financial statements for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Article5 of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), 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). REFERENCE AND ADMINISTRATIVE INFORMATION Charlty number: Company number: Financlal Conduct Authority FRN: 1093678 04391330 617745 Reglstered offlce: 14-15 Brunswick Place Southampton. S015 2AQ Trustee Dlrectors- As at AGM John Yates Richard Jenkins Mark Satchell Traute Meyer Anlta Smlth Claire Pembroke-Burn Sarah Lockwood Chair Vice Chair Treasurer Co-opted 02108123 Co-opted 28102124 Other trustees lan Hubbard Steve Foster Jean Lucking-Naguib Llsa Goddard Peter Robertson Reslgned 07106123 Resigned 28102124 Reslgned 27103124 Resigned 31107124 Resigned 30106124 Executive Christian Dlxon Kirsty Rowlinson Chlef Officer to 31101124 Interim Chief Officer from 01102124 Auditor5: Stuart Mackie FCA Morris Crocker Chartered Accountants station House, North Street Havant Hampshire P09 1 QU
Company No. 04391330 Charity No. 1093678 Southampton Citizens Advice Bureau TRUSTEES, AND DIRECTORS. REPORT For the year ended 31 March 2024 Bankers (Main} CAF Bank Ltd, 25 Kings Hill Avenue. Klngs Hill, West Malling. Kent ME19 4JQ Bankers (Investment): CCLA Investment Management Ltd (known as COIF) Senator House, 85 Queen Vlctoria House. London EC4V 4ET (COIF) United Trust Bank Limited One Ropemaker Street London EC2Y 9AW
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Southampton Citizens Advice Bureau is a charitable company limited by guarantee. It was incorporated as such in March 2002. The revised Local Citizens Advice Model Articles of Association, as approved by the Charity Commission, were adopted by Special Resolution on 17th November 2022. These update, and replace, the previous Articles of Association adopted in September 2014. The Articles of Association are the governing document of the charity. Membership The Charity may admit into membership individuals or organisations who: apply to the charity in the form required by the directors; are approved by the directors; and are, if individuals, over the age of 16 years who are interested in furthering the work of the Charity and who are not paid worker5, employees or unpaid volunteers of the Charlty. Trustees are de facto members during their period of service. There were thirteen individual members on 31 March 2024 but no member organisations. Recrultment and appointment of trustees The maximum number of Trustees specified by the Articles of Association is 15 and the minimum is four. Trustees are either elected at the annual general meeting or co-opted by the Trustee Board during the year. The number of trustees appointed, whether at the Annual General Meeting or through co-option by other trustees, must not exceed the maximum of15. All Trustees (elected or co-opted) retire from office at the third annual general meeting following their election or appointment but may then be elected or re- appointed. At the board meeting in April 2023, Mark Satchell resigned as Vice Chair, and Richard Jenkins was subsequently elected to that position, from the beginning of May 2023., At the AGM in November 2023, Steve Foster did not stand for re-election and Mark Satchell was elected to the position of Treasurer; None of the Trustee5 has any beneficial interest in the company.
Southampton Citizens Advice Bureau TRUSTEES, AND DIRECTORS. REPORT For the year ended 31 March 2024 The Trustees are responsible for setting and monitoring the objectives and strategy of the charity, and ensuring the necessary policies and procedures are in place to enable the team of staff and volunteers to work effectively. They have appointed a Chief Officer to manage the day-to-day operations of the Charity. The Board of Trustee5 meets 10 times a year. Major operating decisions are made by a simple majority of a quorate Board. Day to day organisational and routine operating decisions are delegated to the elected officers or to the Chief Officer and are reported to the Trust Board at its next meeting. Trustee induction and training New Trustees are briefed on their legal obligations under charity and company law,. the content of the Memorandum and Articles of Association; background of the organisation and the involvement of Citizens Advice and major funders; and the committee and decision-making processes of the organisation. Trustees are encouraged to attend appropriate external training events where these will assist in the performance of their role, Board Evaluation The Board undertakes an annual self-appraisal as part of a review of its own effectiveness. This forms part of the annual Leadership Self-Assessment and is accompanied by a skills audit, one-to-one review meetings between trustees and the Chair of the Board, and a Board equality and diversity audit. Improvement action5 and training or development needs identified as a result of the Board evaluation are incorporated in the Board's action plan and organisation training plan. Related Parties The National sociation of Citizens Advice Bureaux Citizens Advice Citizens Advice Southampton 15 an associate member of Citizens Advice (CitA), the operating narne of the National Association of Citizens Advice Bureaux, with which it has a membership agreement, The national body reviews the organisation's conformance to standards set out in the Membership Agreement. Southam ton Cit Council The organi5ation has historically had close relationships with Southampton City Council (SCC) which provided a total of 76% of the charity's funding during 2023/24,. thi5 includes
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 the full value of the Advice Inforrnation and Guidance contract encompassing funding paid to the consortium of Advice in Southampton partners. Both organisations monitor the activities of the organisation and may send appointed observers to attend Trustee Board meetings when deemed appropriate but are not considered to be related parties as defined by the Charities Statement of Recommended Practice (SORP). Risk Management The organisation maintains a risk register as well as an information assurance risk register. The risk register is based on a matrix supplied by Citizens Advice. The risk register takes account of potential changes to the environment in which the organisation is working and highlights how these would impact on its services. Ongoing risk mitigation measures include: a quarterly comprehensive review of the risks the organisation may face monthly review of organisational key performance indicators including financial indicators the establishment and implementation of systems and procedures to manage the risk identified. ent of Internal Control The Citizens Advice Southampton trustee board oversees the information security of all personal information of our clients, staff, funders and strategic partners that is processed. The local Citizens Advice hold joint responsibility for client data that is held in our case management system, with the national Citizens Advice Service. An information assurance management team exists to ensure the confidentiality, integrity and availability of all personal and sensitive data is maintained to a level which is compliant with the requirements of the UK General Data Protection Regulation and Data Protection Act 2018.
Southampton Citizens Advice Bureau TRUSTEES, AND DIRECTORS, REPORT For the year ended 31 March 2024 OBJECTIVES AND ACTIVITIES Object5 The Charitys objects are 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 Southampton City and surrounding areas. We value diversity, promote equality and challenge discrimination. Local Citizens Advice deliver advice seniices from community locations in England and Wales, helping people to resolve their legal, money and other problems by providing free advice and information, and by influencing policymakers. Public Benefit The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Cornmission. All the charitys services are offered free of charge and are available to the general public on a basis which is impartial, non-judgemental and confidential. The organisation offers general advice to all citizens in Southampton. This includes advice on a wide range of subjects including benefits, debt, employment and family issues. The organisation offers specialist advice in debt managemen¢ immigration and residential care funding options and also offers a home visiting service to clients of social services in certain circumstances. Activities These are set out in the separate Annual Review document.
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 FINANCIAL REVIEW Funding The Trustees are grateful to the agencies and individuals who are working so hard to help us provide and maintain a quality assured independent advice service for the people of Southampton. Most of the organisation's funding has historically been provided by Southampton City Council. The City Council's ongoing requirements are to develop an integrated advice service across the city. The management and Trustees of the organisation worked closely with the City Council through the aegis of the Advice in Southampton partnership during consultation to shape the commissioning of advice services undertaken during 201612017. The organisation leads a consortium, Advice in Southampton (Ais), made up of partner organisations (No Limits, Age UK CLEAR, the Environment Centre, and the Rose Road Association) which was the successful bidder for the provision of advice seniices, with a contract for five year5, running from 1 February 2018 to 31 March 2023, and subsequently extended until 28 February 2025. This is rightly regarded as an important plarform in the organlsation's plan to achieve financial strength and a more balanced relationship with the City Council. However, the trustees are mindful of the increased pressure on public finances, which Is likelyto affect future commissioning arrangements and potential income in future years. Income Income levels in 2023124 were £418.4k (35%) higher than 2022123: £253.6k for Carers Support and £154.7k additional funding from SCC for Core Grant increase and Other funding. The material funding sources were; Southampton City Council - AIG contract £440.4k Southampton City Council- Core Grant (residue) £261.2k Southampton City Council - Home5 for Ukraine £176.5k Southampton City Council - Carers Support £253.6k Southampton City Council - Other £83.5k
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 Citizens Advice Money and Pension Senlice Debt Advice (MaPS) £109.7k Hampshire Macmillan Citizens Advice Service £56.2k Home and Well £26.6k Southampton and District MS Society £15.Ok Maggie's Centre Southampton £32.9k Other grants and income £131.4k Spending Staff costs continue to represent the greater part of the organisation's spending profile, despite increased spending on service premises and higher costs for improved IT and telephony services. Nevertheless, we were able to provide staff with a cost of living increase at market rates. Operating Model Over the last few years our operating model has been adapted to maintain a safe environment for staff, volunteers and clients accessing our premises, introduclng drop-ln video advice hubs in two locations in the city. We have continued to see clients who need face to face support at our office, and conduct home visits to vulnerable clients that cannot access mainstream channels. We keep our post-COVID health and safety measures under review. Reserve5 Policy Citizens Advice Southampton Trustees recognise the need to maintain reserves to enable the organisation to: meet statutory and contractual obligations withsta nd an unforeseen financial setback provide temporary financial assistance for projects that are awaiting agreed funding from other organisations 10
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 take advantage of opportunities that the Trustees consider will benefit the charity and the community it serves The Trustees have established a policy whereby funds not designated for specific purposes or otherwise committed, or invested in tangible fixed assets held by the organisation ("free reserves"), should be a minimum of three months of the resources expended, which equates to £245,000 in general funds. At this level, the Trustees feel that they would be able to continue the current activities of the Charity for a limited period of time in the event of a significant drop in funding,. it would then clearly be necessary to consider how replacement funding could be found or service delivery changed. At 31 March 2024, the free resenjes totalled £394,101 which 15 £195,466 more than the previous year. Plans for the Future The Southampton City Council {SCC) contract for core Advice Information and Guidance (AIG) services provide5 a stable underlying funding base, and was due to expire on 31 March 2023. The contract has since been extended until 28 February 2025, which is welcome news although SCC'S subsequent plans remain unclear. However, the Board acknowledges that in the current challenging funding environment it must work to ensure increased operating costs can be met, whilst at the same time planning to enhance and diversify income streams to continue to ensure the people of Southampton can access quality information and advice sericeS that are sustainable, and remain free to all. The Trustees will continue recent success in securing the appointment of additional and appropriately skilled trustees to support the Board'5 focus on developing services that are sustainable and attractive to funding bodies. We will continue to demonstrate the impact of advice and its added value to other services including health., ensure we use available technology to improve access to the seniice and our productivity; extend our early intervention and prevention offer through the training of other front-line services in "Advice First Aid,; extend access to Refernet as a mean5 of other agencies making secure direct referrals for their service users; and work creatively to increase our workforce capacity.
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 ACKNOWLEDGEMENTS Over the last twelve months, Southampton Citizens Advice Bureau has served its local community very well, despite continued uncertainty. The trustees recognise that the charity is well managed,. a view endorsed by the City Council by continuing to contract for Advice Information and Guidance services. The trustees would like to commend the exceptional work undertaken by the skilled and committed staff and volunteers without whom the Charity could not offer the depth and breadth of advice to its many clients. They would also wish to record their thanks to the volunteers and the paid staff who have contributed so much to the smooth running and development of the Charity during the year, 12
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS. REPORT For the year ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Southampton Citizens Advice Bureau (A Company Limited by Guarantee) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 resource5 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: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in buslness, The trustees are responsible for keeping proper accounting records, 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 irregula rities. In so far as the trustees are aware: there is no relevant audit information of which the charitable companls auditor5 are unaware; and they have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. I Ststemcnt of Recommended Practice
Southampton Citizens Advice Bureau TRUSTEES. AND DIRECTORS, REPORT For the year ended 31 March 2024 Approved by the trustees of the charity on ...... . Chair of Trustee 14
Southampton Citizens Advice Bureau REPORT FOR THE INDEPENDENT AUDITORS For the year ended 31 March 2024 Opinion We have audited the financial statements of Southampton Citizens Advice Bureau {the 'charitable company,) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon 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 Auditors, responsibilities for the audit of the financial statements sectlon of our report. We are independent of the charitable company 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 aud it 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 collertively, may cast significant doubt on the charitable company'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. 15
Southampton Citizens Advice Bureau REPORT FOR THE INDEPENDENT AUDITORS For the year ended 31 March 2024 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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 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 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 Oplnions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the Information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or 16
certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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. Our responslbilities for the audit of the flnancial statements 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 a Report of the Independent Auditors 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations, We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud 15 detailed below.. From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern. 17
Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues and management override concerning the size of the organisation. We set a financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level. Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested. Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override. The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation. Management assessed there is no going concern rlsk. The audit undertook a review of budgets, management accounts and the review of board minutes and came to the same conclusion as management. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www. frc.org, uk/aud itors responsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solelyto the charitable cornpany's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's member5 those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 18
Stuart Mackie (Senior Statutory Auditor) for and on behalf of Morris Crocker Limited Chartered Accountants Statutory Auditors Station House North Street Havant Hampshire P09 1 QU Date;.......................................... 19
Southampton Citizens Advice Bureau STATEMENT OF FINANCIAL ACTIVITIES {INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 March 2024 2024 2023 Unrestrlcted funds Restrlcted funds Total funds Total funds Note Operating activities Income from: Donations and legacies Charitable activities Other (including fundTri&ng) Total Income 1b 9,358 900,525 795 910.678 9.358 1,586,925 795 1,597.078 2,485 1.168.532 951 1 171,967 686,400 686.400 Expenditur8 on: Raising funds Charltable activities Other Totsl Expendlturn 718.480 755,736 1,474,216 1.177.309 718.480 755,736 1,474216 1177,309 Net Incom61(expendituro) before transfors 192,198 (69,336) 122,862 15,344) Transfers betW88n funds (69.336) 69,336 Net rnovement In funds for the year 122.862 122,862 (5,344) Reconclllatlon of funds: Balances brought forward 10 342,200 342.200 347.544 Balances carrled foThYard 10 465,062 465,062 342,200 The statement of financial activities includes all gains and losses in the year. All Income and expenditure derive from continuing aclivitias. The notes form part of these financial statements. 20
Southampton Citizens Advice Bureau BALANCE SHEET For the year ended 31 March 2024 Unrestricted Funds Restricted Funds 2024 Total funds 2023 Total funds Note Operaling activities Fixed Assets Tangible Fixed Assets 70,960 70,960 74,229 Current Assets Debtors Cash al bank and in hand 132,857 374.046 506.903 132,857 374,046 506,903 191,142 216,323 407,465 CredStors - amounts falling du8 wlthln one year Net Current Assets 110,895 396 008 110895 135,414 272,051 396 008 Net assets before Penslon reserve 466,968 466.968 346,280 Creditors - amounts falling du8 after on8 year 1,906 1,906 4,079 Net assots 465,062 465,062 342,201 Represented by: Funds of the Charlty General Funds Designated Funds 394.102 70.960 394,102 70,960 287,972 74,229 Rastrlcted Funds 11 (01 465.062 465.062 342,201 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 27. NfLv&d,... 2024 and were signed on their behalf by: Chair John Yates Treasurer.... Mark Satche 21
Southampton Citizens Advice Bureau CASH FLOW STATEMENT For the year ended 31 March 2024 2024 2023 Operatlng activities Net cash provided by (used in) operating aclivities 172.700 74,535 Investing actlvitles Payments for tangible fixed assets (14,977) 13,600) Financing actlvltlas Change in cash and cash equivalents in the year 157,723 70,935 Cash and Gash equivalents at beginning of the year Total cagh and ca8h equlvalents at end of the year 216,323 374 046 145 387 216,323 Reconciliation of net movem8nt in funds to net cash ftow from operating activities 2024 122,862 2023 Statement of financial Activiti88: Net movement in funds 15,344) Adjustments for: Depreciation charges Interest from investments Loss on disposal of fixed assets (Increase)Idecrease In debtors In¢reasel(decrease) in creditors Nel cash provided by (used inl operaling activities 18,246 15,347 58,284 26,692 172.700 (12.825) 77,157 74,535 The notes form part of these financlal stataments. 22
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accountlng Policies Basis of prepardtion Th8 flnancial statements of the charitable company, which is a public benefit entity under FRS 102, have b88n prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charitl8s.' Statement of Recomm8nded Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard appllcable in the UK and Rèpublic of Ireland (FRS 102) (effective 1 January 2019}', Financial Reporiing Standard 102 'Tha Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. Th8 financial statements have bean prepad under the historical c05t Gonvention. with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Th8 trustees consider that Iher8 ar8 no material uncortainties gardIng the chariltys abllity to continu8 as a going concern. Flnanclal Instruments The Charily only has financial assets and financial liabilities of a kind that qualify as basic financial instrumants. Basic financial inslruments are initially recognised at Iransaclion value and subsequenuy measur8d at Ihe present value of future cash flows (amorlised cost). Flnancial ass8ts held at amortised cost compri58 cash at bank and In hand and debtors excluding prepayments. Financial liabilltl6s held at amortlsed cost compris8 cr8ditors 8xcluding deferred Income and taxation payable. Financial liabllllies that are provlslons are hald at fair value. No discounting has been applied on the basis that the periods over which amounts will be settled are such thal any discounting would be immaleriaS. Fund accountlng Gener81 funds are unrestricted funds which are available for use al the discretion of the trustees in furtherance of the general objectives of Ihe company and whlch have not been designaled for other purposes. Daslgnated funds are unrestricted funcls 88rmarked by the trustees for particular purpos85. Restrlcted 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 particular purposes. The costs of raising and administering such funds are charged agalnst the specific fund. The aim and use of each restricted fund is sel out in the notes to the flnanclal stalements. Income All income Ss included in the stalement of financial activities when the Gharity is entitled to the funds and th8 amounl can be measured with reasonable certainly. Income is deferred only when the charity has to fulfil conditions before becomlng entitled to it or where the donor has specified that the income is to be expended in a future perlod, Voluntary Income is received by way of grants, donatlons, and gifts, includlng gift aid income where appllcable, and Is included in full in the statement of flnancial activities when receivable. Income from grants. where related to performance and specific deliverables. are accounted for when it is probable that the income will be received, and the amount can be measured reliably and Is not deferred. Donated setvicès and facililies are included at the value to tho charity where this can be quantified and is material. The value of serv15 provided by volunteers has not been included in these accounts. Interest recelvable Interest on funds held on deposit is included when recelvable and the amount can bo measured reliably by the company,. this is normally upon notification of the interest paid or payable by Ihe Bank. 23
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Resources expended Expendrture is recognised on an accrual 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. Expenditure on raising funds,. comprise the costs associated with atlracting voluntary income. Charitable 6xpenditure comprises those costs incurred by the charily in the delivery of its activitie5 and servicos for its beneficiaries. The primary functional activity of the charity is the giving of free a nd confidential advice to the public. It includes both costs Ihat can be allocated directly to this activity and those costs of an indirect nature necessary to support them. Support costs includes all those overhead costs of office and bureau accommodation. utility services, and other servlces and costs, which are in support of the aclivily. They also include those Gosts not associated wlth the other o headlngs and includes costs of meeting the constitutional and statutory requirements of the charily, the audit fees and costs linked to the strategic management of the charity. They have been allocated to activity cost categories on a basis consistent with the use of resources. Oporating18ases and hlre purchase agreoments The charity classifies the lease of property and printing and telecommunicalions equipment as operating lease5. the title to Ihe property and equipment remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease. Taxatlon The company, being a reglstered charity wllh mlnlmal trading income, has been granted exempllon from tax under Section 505 of the Income and Corporation Taxes Act 1988. No provision for taxation has Iherefore been made in these accounts. Tanglble fixed assots and d8preclatlon All assets costing more that £1,000 are capitalised. Tangible fixed assets olher than freehold land are stated at cost less depreciatlon. Dapreclation is provided at rat85 calculated lo write off the cost less estimated residual value of each asset over ils expecled useful life, as follows: Loasehold improvemenls over the length of the lease Computer equipment 250/0 on the straighl-line method Furniture and equipment 250/• on the slralght-line method 1.10 Debtors Trade and other debtors are recognlsed at the settlemont amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.11 Cash at bank and Sn hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due lo settle tho obligation can be rneasured or estimated reliably. Creditors and provisions are nomially recognised at their 5ettlemenl amount after allowing for any trade discounts due. 24
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 1.13 Ponsions and Tetlremont benefits The charlty operates a deflned contribution scheme. The amount charged to the statement of financlal actlvltles in respect of pension costs and other post-retirement benefits is the contributions payable in the y8ar. Differences between contributions payable in the year and contributions patd are shown as either accruals or prepaymenis in the balance sheet. 25
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Incoming Resources from Generated Funds 2a. Donations Total 2024 Total 2023 Unrestricted Restricted Voluntary Income Donations 9,358 9.358 2,485 9,358 2.485 Charitable Activities Total 2024 Total 2023 Unrestrlcled Restricted Southampton City Council - CO Grant Southampton City Council - AIG Southampton Clly Council-support to people from Hong Kong Southamplon City Councll - Hom8s for Ukraine Southampton City Council - Carers Support Southampton Clty Coundl- Other City Life Church (CLEARI - Support to people from Hon9 Kong Citizens Advlce Hampshi - Home and Well Citlzens Advice Hampshir8- Macmillan Cillzens Advice Hampshire- Maggies Cilizens Advice Hampshire - Southern Health EUSS-Home Office Southampton & District MS Society Citizens Advice - Money Advice Service Citizens Advice- Other income Other grants for advlsory s8rvices 261,203 261,203 440,460 190.005 440,460 440,460 4.750 176.500 176.500 147,500 253.625 83,480 253.625 83.480 23,600 26,563 56,203 32,853 26,563 56,203 32,853 54,197 30,247 7,500 7,500 1,000 15,000 109,675 15,000 107.863 1,000 15,000 109,675 47,899 15,000 131,917 27150.07 15.000 103.217 4.646 900.525 686 400 1.586 925 1.168,532 Other Income Total 2024 Total 2023 Unrestricted Reslricted R8nl from hire of rooms Bank Interest Mlscellaneous income Total Other Income 795 795 217 734 795 795 951 26
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 3 Analysis of expenditure Unresliicted R8Strict Restricted Geneialist Advisory Services Money Advice Service alisl Advisory Servic8s 2024 2023 Ralslng funds Charltable Actlvltles staff cosls Other dlrect costs 372.507 103.832 71,370 137,017 9.696 457,008 580,894 570,536 415,436 498,049 Support costs 242,141 29,992 50,653 322,786 263,824 Total Expendlture by Activity 718,480 111,058 644,678 1474216 1177,309 Generalist Advisory Services Money Advli Service Specialisl Advisory Setvices Support Costs 2024 2023 Management Office, IT & communications Premises Governance Other 114,047 14,154 23,959 152,160 115,521 47,368 65,032 7,092 8.602 5,868 8,072 854 1,044 9,868 13,789 1,324 1,713 63,104 86,893 9,270 11,359 51,202 83,114 6,742 7,247 Activity Total 242,141 29.992 50,653 322,786 263.826 The basis of allocalSon of support costs is hours worked 27
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 4 Net incomel (expenditure) for the year 2024 2023 This is slated after charging-. Depreciation Auditors, remuneration Operating lease cosls-premises 18.246 15,347 7,705 6,552 38.354 39.708 As at 31 March 2024, the company had commitments under non- cancellable operating leases as follows: Land and buildlngs 2024 2023 Within one year Between two and fiv8 years After five years 36.528 182,640 36.528 255,696 36,528 182,640 73,056 292,224 6 Information regarding Trustees, Directors and Employees 2024 2023 Wages and salarles Social security costs Pension costs other staff costs 670,429 46,122 13,006 3,497 733.054 489,051 31.606 9,487 813 530,957 The average number of employee5, analysed by function was: 2024 24.8 9.00 33.8 2023 20.0 Charitable purposes Management and adminislration of charity 26.1 No employee received remuneration of more than £60,000 Key management Personnel and Costs.. Chief Officer. total employTnent cosls including employers national insurance and pension contributions.. £58,300 (2023- £41.878) Trustee remuneratlon & Related Party transactlons No Iruslee was remunerated for any services (2023: £0). All payments were by way of reimbursement for expenses. The trustees had indemnily insurance in place durlng the year. 28
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 7 Fixed assets Land and Buildings Improvements Fixtures. fiitings and equipment Total Cosl At 1 April 2023 Additions Disposals 95,466 59,273 14,977 154.739 14,977 At 31 March 2024 95.466 169,716 Depreciation At 1 April 2023 Charge for the year Dlsposals 33,545 10,600 46,965 7,646 80.510 18,246 At 31 March 2024 54,611 98,756 Net book value 2024 51,321 Net book value 2023 61.921 12,308 74,229 8 Debtors 2024 2023 Grants re1vable Prepayments Trade Debtors 1,000 14.630 117.227 176,592 14,550 132 857 191 142 9 Creditors - amounts falling due within one year 2024 2023 Accruals Trade Creditors other creditors including tax and social securily Grants received in advance 76,881 7,949 23,465 2,600 32.785 47.649 10.160 44,820 110,895 135,414 29
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 10 Analysis of net assets between funds General Unrestrrcted Funds Designated Unrestrictad Funds Restricted Funds Total Funds Tangible Fixed Assets 70.960 70,960 Current Assels Cash Other CA Current Liabilitles Current liabilities due after one year Nel Assets 374,046 132,857 (110.895) 374,046 132,857 (110,895} 1,906 394,102 1,906 465,062 70.960 30
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 11 Movement in funds At1 April 2023 At31 March 2024 Income Expenditure Transfors Restricted Funds: Money Advic8 Service Specialist Advlsory Servicas 109.675 (111,058) 1,383 576,725 (644,678} 67.953 Total Restricted Funds 686.400 755.736 69,336 Unrestrlcted Funds: G8n8ral fund Flxed Asset Fund 267.972 74,228 910,678 (715,212) (3.268) (69,338) 394,102 70,960 Total Unrestricted funds 342 200 910 678 718,480 465 062 Total funds 342 200 1,597,078 1,474.216 465,062 Net movement In funds, included in the above are as follows: Incomlng resources Outgolng Resources Movement In Funds Restrl¢ted Funds: Money Advice Service Specialist Advisory Services 109,675 576,725 (111,058) 1644,678) (1,383) (67,9531 Total Restricted Funds 686,400 (755,736) {69.336} Unrestrlcted Funds: General fund Designated funds 910,678 (715,212) (3,268) 195,466 (3,268) Total Unrestricted funds 910,678 (718,480) 192,198 Total 1,597,078 (1,474.216) 122,862 31
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Comparatives for movement in funds: At31 March 2023 At 1 April 2022 Income Expenditure Transfers Restricted Fund5: Money Advice Service Specialist Advisory Services 131,917 614.952 (134,566} (632,2671 2,649 17,280 35 Total restricted funds 35 746,869 766,833 19,929 Unrestrlcted Funds: General fund Fixed Assel Fund 261,534 85.975 425.098 (398,731) (11,747) {19,929) 267,972 74,228 Total Unrestricted funds 425.098 410478 19,929 342 200 Total fund8 347,544 1.171.967 1 177311 342,200 Net movement in funds, included In the above are as foll0v. IncomSng resources Mov8ment In Outgoing Resources Funds Money Advice Service Specialist Advisory Services 131,917 614,952 {134,566) {632,267) (2,649) (17,315) Total Restricted Funds 746,869 (766,833) {19,964) Unrestrlcted Funds: General fund General fund Total Unrestricted funds 425.098 (398,731) (11,747) (410,478) 26,367 11,747L 425.098 Total 1,171,967 {1.177,311) (5.344) 12 Purpose of Rèstricted Funds Advlce Information Guidance (AIG) - The provision of Ihe complele panoply of advice services to the population of Southampton by telephone and face to lace services, in coalition with the six other Ioc81 agencies that comprise Ihe Advl¢e in Southampton (Ais) consorttum (Ag8 UK. Clear, EU Welcome, the Envlronment Centre, No Limits. Rose Road Associalion}. Money & Pensions Servlce Debt Advice Project (MaPSDAP) -The provision of speclalist debt advice by telephone, digital and fa¢e-to-faGe services. 32
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Specialisl Advisory Services: MS Society -The provision of targ8ted employment, housing, bonefits and debt advice for paople and their families affected by Multiple Sclorosis within Ihe Southampton and Districl branch area of benefit. Hampshlre Macmillan Advice Servlce-Thg provision of a holistic welfare benefits. employment, housing, debt and gener81 advice service for people affected by cancer, 33
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 13 Provisions for Llabllltles 2024 2023 Provisions 1,906 4,079 Southampton CitlZ8ns Advice Bureau participates in a multi*mployer schemo which provides benefits to some 1,300 non-associated participating employers. We account for the scheme as a defined contribution schame. A full actuarial valuation for the scheme was carried out with an effective dat8 of 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the pension scheme trustees, and the participating employers have agreed that additional contributions will bo paid, Where the sch8m8 15 in deficit and where Ihe Charlty has agreed to a deficit funding arrangemenl, the Charily has recognised a Ilablllty for this obligallon. The amount recognised Is Ihe net present value of the deficit reductlon contributions payable under th8 agrèement that relates to the deficit. The present value is calculated using the discount rate detailed in th8S8 disclosures. The unwinding of the discount rate is recognisgd ag a finance c05t. Reconciliatlon of openlng and ¢1081ng revlslons Period Ending 31 March 2024 Period Ending 31 March 2023 Provlslon at start of period Unwinding of the discounl factor Deficit contribution paid Impact of any change of assumptions Amendm@nls to conlribulion schedule Provision at end of perlod 4,079 157 {2,331) 6,399 120 (2,331) {109) 1,906 4,079 Perlod Ending 31 March 2024 Period Endlng 31 March 2023 Interest expense Impact of any change of assumptions Amendmenls to contribution schedule 157 120 (109) 31 March 2024 per annum 5.31 31 March 2023 Yo per annum 5.52 31 March 2022 o per annum 2.35 Rale of discount 34
Southampton Citizens Advice Bureau NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 14 Related Party Transactlons The Bureau is an associate member of national Citizens Advice {CitA), wilh which it has a Membership Agreement. There is no operating or financial inler-dependence belween CitA and the Bureau. The national body ravigws the Bureau's conformance to stsndards set out in the Membership Agreement. The Bureau has historically had close relationships with Soulhampton City Council which provided more than 77 % of the charity's funding during 2023124 (including the lotal value of the AIG contract). Both organisations monitor the activities of the Bureau and send appointed observers to attend Truste& Board Meetings when deemed appropriate, bul are nol considered to be related parties as defined by the Charities statement of recommended practice (SORP). 15 Comparatlve Statement of Flnancial Activltles 2023 2022 Total funds Unrestrfcted Re5trfcted fund8 funds Total funds Note Operating activities Income from: Donalions and legacies Charitable actlvltles other (Including fundraising) Total Income 1b 2.485 421,662 951 425.098 2,485 1,168,532 951 1171967 1,692 1.173,946 746,870 746,870 1,177,743 Expenditure on: Ralsing funds Charitable activities Other Total Expendlture 410,477 766,833 1,177,309 1,187,915 410,477 766.833 1.177,309 1187,915 Net Incomel(expendlture) before transfers 14,821 (19,964) (5,344) (10.172) Transfers between funds (19,929) 19,929 Net movement in funds for the year (5.308) (35) (5.344) (10,172) Reconclllation of funds: Balances brought forward 10 347 509 35 347.544 357 716 Balance5 carrled forward 10 342.200 342,200 347,544 The statement of financial activities Includes all gains and losses in the year. All income and expenditure derive from continuing activities. The notes fomi part of these financial statements. 35