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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 04265661 (England and Wales) REGISTERED CHARITY NUMBER: 1094263

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024

for

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Morgan Griffiths LLP Chartered Accountants Cross Chambers

9 High Street Newtown Powys SY16 2NY

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 12
Independent Examiner's Report 13
Statement of Financial Activities 14
Balance Sheet 15 to 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 27
Detailed Statement of Financial Activities 28

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Reference and Administrative Details for the Year Ended 31 March 2024

TRUSTEES C Thomas Chair
M C Harvey Vice Chair
J Kearle Treasurer
J Hankins
T Butler
P R Swanson
S J Kearle
S E Evans
D Ryan (resigned 14.11.23)
COMPANY SECRETARY Y E Bell
REGISTERED OFFICE Ladywell House
Newtown
Powys
SY16 1QS
REGISTERED COMPANY 04265661 (England and Wales)
NUMBER
REGISTERED CHARITY 1094263
NUMBER
INDEPENDENT EXAMINER Morgan Griffiths LLP
Chartered Accountants
Cross Chambers
9 High Street
Newtown
Powys
SY16 2NY
BANKERS NatWest Bank Plc
Broad Street
Newtown
Powys
SY16 2LY

Page 1

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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).

Page 2

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

OBJECTIVES AND ACTIVITIES Objectives and aims

Our Business and Development Plan 2024-2026

Our Business & Development Plan includes information about Citizens Advice Powys and includes our Strategic Objectives and Priorities and the actions to help us achieve our objectives.

Our Purpose Citizens Advice Powys is a local, independent charity providing advice and for over 20 years we have provided advice services and support to individuals across Powys.

Citizens Advice Powys is a member of the National Association of Citizens Advice Service under an agreement designed to ensure advice services to clients across all channels are protected, enhanced, and trusted.

We aim to provide advice people need for the problems they face.

We achieve our aims by providing free, confidential, impartial advice, working with people to prevent problems happening, reducing the effect on lives, and improving individual circumstances.

We use evidence of our client's problems to inform and improve the policies and practices in laws and services that affect people's lives. We value diversity, promote equality and challenge discrimination.

Our Strategic Objectives

- Access - Improve and increase accessibility options across Powys to provide a service that meets a wide variety of needs.

- Sustainability - secure financial investment and funding from a broad range of sources to build resilience and sustainability.

- People - Train and grow our workforce to develop the knowledge and skills to help people move forward with the problems they face.

Our people come from our local community and play a vital role in building our capacity to deliver our services. We value the commitment and dedication of our Trustees, volunteers, and paid staff, who all work hard towards our mission, aims, principles and values.

Our contingency we identify and review the risks to which the charity is exposed and ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Our Risk Register sets out key concerns in delivering our service and mitigating action to produce a robust and sustainable service. Additionally, we have a Business Continuity Plan to ensure that business critical activities can continue to be conducted.

Our Equality, Diversity and Inclusion Goals - actions detailed in our Strategic Implementation Plan 2024-2026 help us to meet our identified EDI goals.

Our strategic context

Citizens Advice Powys has a responsibility to plan strategically ensuring our activities meet needs of our communities, are aligned with key stakeholders such as Welsh Government, Powys County Council, Powys Teaching Health Board, third sector partners and National Citizens Advice Service.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

The provision of advice remains a key component of the Welsh Government's plans to tackle poverty, well-being and mental health and will contribute to the goals of the Well-being of Future Generations (Wales) Act 2015, Public Health Wales Long Term Strategy 2023-35 and the Social Services and Well-being (Wales) Act 2014.

Well-being of Future Generations (Wales) Act 2015 encourages organisations to consider the long-term impact of their decisions, to work better with people, communities and each other, and to prevent persistent problems such as poverty, health inequalities and climate change. The Act puts in place seven well-being goals that we will feed into our Strategic Implem entation Action plan over the next 2 years:

1. A Prosperous Wales - reducing barriers to employment and ensuring that people understand their rights.

2. A Resilient Wales - improve people's financial well-being and work to address poverty issues.

3. A More Equal Wales - reduce inequalities, poverty and socio-economic disadvantages and enable people to make informed choices .

4. A Healthier Wales - improves people's health and well-being by providing early interventions, preventing further detriment and r educing demand for services.

5. A Wales of Vibrant Culture and Thriving Welsh Language - a society that promotes and protects culture, heritage and the Welsh Language and which encourages people to participate in the arts and sport and recreation.

6. A Wales of Cohesive Communities - Access to key well-being services, build cohesive communities and support communities to be well connec ted and safe.

7. A Globally Responsive Wales - improve the economic, social, environmental and cultural well-being of Wales.

The Powys Well-being Plan, "Towards 2040" , has been developed by the Public Services Board. The vision is for a Fair, Sustainable and Healthy Powys. The three well-being objectives which shape the work to achieve the vision are:

Citizens Advice Service Living Strategy "Transforming Together" service wide missions:

- Provide advice fit for the future - we will be there for people when they need us in ways that help make the biggest impact.

- Close the gap - we will end the disparities in access and experience for marginalised people.

- Take early action - we will prevent more people reaching crisis by addressing problems earlier.

Our Quality Access to the provision of high-quality advice services is a key component in helping people understand and exercise their rights and make informed decisions about their lives. Our service is endorsed by our external quality standard awards.

Citizens Advice Powys is accredited by the Advice Quality Standard (AQS)

To maintain this standard, we are externally assessed on a tri-yearly basis and must meet the strict requirements outlined in the assessment process:

Citizens Advice Powys has been accredited by the IAQF since July 2019

As a funder of organisations providing free and independent information and advice services, the Welsh Government ensures that organisations it funds are effectively managed; that the information and advice provided is up to date and that staff providing front-line advice services have the necessary skills and competencies to provide the best advice possible to clients.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

The IAQF Wales ensures that all providers meet minimum standards in relation to safety, responsiveness, and effectiveness, but also seeks to embed a culture of continuous improvement.

Citizens Advice Powys is accredited with the MAPS Debt Advice Quality Framework.

The framework has been developed to ensure that the range of debt advice qualifications and training programs support debt advisers with the knowledge and skills to undertake a range of activities required to assist clients with high quality debt advice.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE

Review of Our Activities

During 2023-2024 we have continued to provide a full advice service across Powys via telephone, digital and in-person delivery. Our website includes additional online access for people to self- refer and partner organisations to formally refer directly.

Core Volunteer Delivered Service - Funded by Powys County Council, our Core Service is the backbone of our organisation with triage and advice services provided by our highly skilled volunteer workforce, supported by our paid and/experienced Advice Service Managers. Clients accessing the service via our 0345 Message Line, website self-referral, or formal partner referrals are called back by our volunteer team who triage all incoming enquiries to identify urgencies/deadlines and arrange appropriate appointments with our staff specialists. Without our volunteers we would not be able to deal with such large numbers of clients seeking access to our services.

Town and Community Councils throughout Powys continued to contribute to the Core Service. The Trustee Board is grateful for this local community support.

Advicelink Services - which is funded by the Welsh Government, commenced service delivery on 1st January 2020. The aim is to deliver free social welfare information and advice services, which achieves the most effective and sustainable outcomes for those seeking advice. The service reaches out to the most vulnerable clients proactively to get advice service intervention to those who most need it before they are in crisis.

The funding is split into 3 advice delivery models:

Advicelink Community Focused - delivery of all types of social welfare information and advice up to and including generalist advice wit h casework.

Advicelink Specialist Benefits - provides access to specialist casework on a range of legal social welfare problems, supporting people with appeals and tribunals.

Advicelink Specialist Debt advice is provided by our team of trained specialists who are fully accredited by the Institute for Money Advice and the Insolvency Service. Provision of specialist debt advice is Quality Assessed to meet the requirements of the Debt Quality Framework with outcomes reported to the Financial Conduct Authority.

Telephone Rural Outreach Service - using the telephony delivery channel, this project has allowed us to increase our capacity to provide clients with a quick response to generalist advice issues and specialist welfare benefit casework. This project addresses specific barriers to advice for clients such as rurality, lack of transport, affordability of tran sport and caring responsibilities.

Newtown Advice Service - in partnership with Newtown Town Council the advice service is targeted at people who live within t he 5 Local Authority wards of Newtown.

Empowerment through In-House Advice - a bespoke advice service delivered directly to people receiving help with their substance use which, aims to prevent client's problems becoming complex, acting as triggers, and leading to relapse.

Warmer Wales - expert energy advice to people experiencing or at risk of, fuel poverty and those vulnerable to the cold. Assisting with benefit and energy grant applications as well as providing practical energy advice on tariff switching and dealing with suppliers. The service also provides emergency energy provision for people in financial crisis.

Claim What's Yours - A Wales wide telephone service to support people who are struggling financially to identify any benefit entitlement they are unaware of.

Basic Income Pilot - The Basic Income for Care Leavers in Wales pilot is available for those leaving care who are turning 18 years of age between 1 July 2022 and 30 June 2023. Providing a monthly payment of £1,600 (£1,280, after-tax) to all eligible recipients choosing to participate in the pilot, via BACS. CA Powys advisers work with t he Local Authority to provide advice and support to participants of the pilot.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Foodbank Extra service - Funded by the Trussell Trust Citizens Advice Powys are working in partnership with Llandrindod Wells Foodbank to deliver the "Foodbank Extra" project. The project helps people with the issues they have, that led them to need an emergency food parcel. The project helps people resolve their practical issues and maximise their income, reduce their debts, solve housing, energy and other issues and aim to reduce the need t o be dependent on foodbanks and other charitable sources.

Crisis prevention support - Since Jan 2024, funded by Powys Teaching Health Board, we have introduced a new bespoke advice service specialising in working with individuals open to NHS mental health services across Powys.

The service aims to:

Community Outreach "Making a Difference" project - working with local communities to research, identify need, co-design, develop, review and establish a new Citizens Advice Outreach service across a range of locations in Powys. Outreaches will provide regular, in-person, key points of access into our service, address issues of rural deprivation and increase our range of delivery channels. Funded by Powys Association of Voluntary Organisations (PAVO).

Contribution of paid staff, volunteers and Trustees

Our continued success could not have been achieved without the hard work and commitment of our paid staff, volunteers and Trustees.

Our Paid staff - our team are trained to a high standard, adapt to changes in demand and work hard to make things better for people, individually and collectively. We recognise the power of good advice, to help people solve their problems and to recognise issues that are the cause of the problems we are supporting people with. Our team are dedicated to changing the underlying causes of those problems, through our work with governments and o ther organisations.

Our Volunteers - our volunteer team is an integral and valued part of our Powys wide service. They are important to the sustainability of our local advice services across the county. As well as increasing our capacity, our volunteers benefit from gaining new skills, personal development, better well-being, increased knowledge of com munity issues and stronger community engagement.

Our volunteers tell us that they value the opportunity to:

During 2023/24 our volunteers contributed over 4,800 hours, with calculated monetary value of £88k.

Our Trustees - our volunteer Trustee Board works to ensure we operate smoothly, meet our Citizens Advice Membership requirements, legal obligations as a Limited Company, a charity and Financial Conduct Authority regulations. The Trustee Board regularly review our operational activities and keep pace with rapidly changing events so our advice services continue to be fully inclusive and accessible to all. As part of their governance role our Truste es are also responsible for:

Page 7

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

The Impact of Our Advice

During the past year we dealt with 10,132 requests for advice and support. This has positively impacted residents of Powys by building their financial resilience, tackling poverty and has improved their overall health and well-being. Our advice and support has:

Our Value to society

For every £1 invested in Citizens Advice Powys services during 2023-2024 we generated: £12.52 in wider economic and social benefits . Solving problems improves lives and this means better wellbeing, participation and productivity for the people we help. Total benefit £7,523,530 .

£1.94 in savings to government and public services . By helping stop problems occurring or escalating, we reduce pressure on public services like health, housing and out of work benefits. Total savings £1,165,786 .

£9.90 in value to people we help . As part of our advice, we can increase people's income through debts written off, benefit take up and solving financial problems. Total value £5,949,117 .

Partnerships - in the last year we have worked with 47 different support partners, including many different statutory services and third sector organisations. Collaboration with our partners ensures longer lasting solutions from a network of skilled and knowledgeable organisations. Through these partnerships we supported 517 individuals .

The difference made to the people we have supported.

During April 2023 to March 2024 people report how our support has helped them.

FINANCIAL REVIEW

Principal funding sources

The principle funding sources for the charity in the year were:-

Investment policy and objectives

Under the Memorandum and Articles of Association, the charity has the power to make any investment which the Trustees see fit. The assets of the charity are available and adequate to meet its obligations for the foreseeable future.

Page 8

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

FINANCIAL REVIEW

Reserves policy

The Trustees have reviewed the Reserves Policy and believe that the organisation should hold financial reserves to ensure that the charity can continue to operate to meet the needs of clients in the event of unforeseen and potentially damaging circumstances arising. It has considered the reliability and continuance of future funding, timing of cashflows and working capital requirements, cover for unplanned emergency repairs and potential liabilities relating to staff should there be closure of a particular activity.

Unrestricted Reserves

The Unrestricted Reserves held by the Charity at 31st March 2024 amounted to £308,926. The Unrestricted Reserves are held for the following purposes:

Operational Reserves - The Trustees consider that it would be prudent to set aside an amount of at least five months operating expenditure, to provide cover in the event of unforeseen circumstances or falls in income. The computation of this value will be reviewed on an annual basis. As at 31st March 2024 this figure was identified as £218k .

Designated Reserves - In addition, unrestricted funds have been considered, the Trustees have designated funds to be used for actions identified in the Business Plan for 2024-2026, including training of new advisers, technology replacemen t and reaching out into local communities.

Contractual Commitment Reserves - The Trustees aim to build up a reserve to ensure the organisation can cover contracted payments to staff such as redundancy, provision of locum maternity cover and the costs of any disciplinary and/or grievance procedures which may arise. As at 31st March 2024 this figure was identified as £121k.

Restricted Reserves

These funds are restricted by the donor or funder and cannot be used for the general purposes of the organisation. Their existence does not imply that there has been an under spend but may result from a variety of circumstances including timing differences between the organisation's financial year and the funding of the project concerned. The Restricted Funds held by the charity as at 31st March 2024 amounted to £11,774.

Page 9

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

FUTURE DEVELOPMENTS

Citizens Advice Powys is committed to 3 areas of strategic development:

During 2024-2025 we will be working towards:

Financial sustainability - we aim to secure national and local funding to ensure ongoing funds to support core and project services.

Increasing workforce capacity and resilience - we will continue to recruit volunteers and paid staff and ensure that everyone has the skills, knowledge, and resources to deliver services. All volunteers and staff will continue to be supported with their own wellbe ing.

Developing multi-channel, accessible services to all client groups - we will achieve this by identifying barriers, improving existing access, piloting, and introducing new d elivery channels and frameworks.

Working proactively to prevent people reaching crisis point - we aim to increase multi-agency working with a range of third sector and statutory support organisations, raising awareness, and developing self-help options.

We will continue to deliver ongoing services during 2024-2025

The Trustee Board would like to thank all the funders who have contributed to the overall success and continuation of the Citizens Advice service across Powys and look forward to working with new and existing funders in the coming months.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee and was established by a Memorandum of Association on 6 August 2001.

The organisation is registered at Companies House No. 4265661

The organisation is registered with the Charity Commission No. 1094263

The organisation is regulated by the Financial Conduct Authority No. 617576

Recruitment and appointment of new trustees

The management of the organisation is the responsibility of the Trustees who are elected and co-opted under the terms of the governing document. Each Trustee retires from office at the third Annual general meeting following their appointment and will be re-elected if they wish to continue as a Board member.

Registers of Members Interests and People with Significant Control is kept at the registered office.

All directors of the company are also Trustees of the charity. There are no other Trustees. All the Trustees named on page 1 served throughout the year, unless appointed or resigned as shown.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

Governance - The Trustee Board is responsible for the strategic direction and legal compliance of the organisation and is accountable for all the acts and omissions of Citizens Advice Powys. The Board meets quarterly and at other times if required. In addition, there are 4 Sub-Committees: Human Resources (HR), Premises, Finance and Funding. Each sub-committee has its Terms of Reference and comprises a minimum of 3 Trustee Board members, including the Chair. The sub-committees meet more regularly to ensure timely reviews of matters arising between the regular, quarterly Board meetings to which they report back.

Executive Management - The Trustee Board exercises its overall control through the organisation's Chief Executive Officer (CEO). Line managed by the Trustee Board Chair; the CEO (Y Bell) is authorised by the Trustees to manage t he day-to-day operational matters of the charity.

Operational Management - The CEO exercises day-to-day operational management and supervision of advice services through two Advice Service Managers, (N Kielthy & A Schmeinck) and a Debt/Energy Team Supervisor (J Maskall). Other staff, some of whom are self-supervising, also contribute greatly to the smooth and effective running of the organisation. The supervisory and operational activity is coordinated through regular Operational me etings chaired by the CEO.

Induction and training of new trustees

The organisation places great importance on the governance issues of running a charity. Trustees must be committed to the aims and principles of the Citizens Advice service and possess specific skills of use to the Board in addition to their responsibility for exercising general oversight.

All Trustees are provided with an induction framework and given access to a portfolio of training on specific issues so that they fully understand their responsibilities as Trustees and employers.

Related parties

Citizens Advice Powys is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux under a membership agreement which is designed to ensure that advice services to clients across all channels are protected, enhanced, and trusted.

Specifically, the agreement sets out what national Citizens Advice will do, what local Citizens Advice will do and, when and how membership starts and ends.

The membership agreement automatically accredits the local Citizens Advice with relevant quality standards and monitors the performance of each local Citizens Advice against a Performance and Quality Framework which is audited in a 3 yearly cycle. The framework is split into five key areas:

  1. Client experience

  2. Quality of Advice Assessment

  3. People Management

  4. Leadership

  5. Financial Health.

This process gives assurance to stakeholders that CA Powys implements systems and processes which enable us to operate effectively as a service provide, employer and volunteering charity.

The framework embeds risk-based thinking, is linked to leadership, management and compliance activities and provides full accreditation to external quality marks.

Citizens Advice Powys is accredited with the following external quality marks:

Page 11

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Citizens Advice Powys has a Risk Register in place which identifies key risks. The Risk Register is monitored and reviewed regularly throughout the year. The review process will identify key priorities, and an action plan is produced to resolve any emerging issues. Additionally, the Trustee Board has a Business Continuity Plan to ensure that business critical activities can continue to be conducted.

Statement of Internal Control

Our Trustee Board oversees the information security of all personal information that is processed about our clients', staff, funders, and strategic partners. Citizens Advice Powys holds joint responsibility for client data that are held in the national Citizens Advice Service case management system. 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 General Data Protection Regulation and Data Protection Act 2018.

Citizens Advice Powys is registered with the Information Commissioner's Office under Z7669287 and will process all personal data in accordance with the General Data Protection Regulation and Data Protection Act 2018.

Our Privacy Policy at www.powyscitizensadvice.org.uk provides further information on how personal data is processed and stored.

Approved by order of the board of trustees on 10 October 2024 and signed on its behalf by:

C Thomas - Trustee

Page 12

Independent Examiner's Report to the Trustees of Cyngor Ar Bopeth Powys Citizens Advice Bureau

Independent examiner's report to the trustees of Cyngor Ar Bopeth Powys Citizens Advice Bureau ('the Company')

I report to 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 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to 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 Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company 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 accounts give a true and fair view which is not a matter considered as part 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 to 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.

Thomas Landers BA FCA

Morgan Griffiths LLP Chartered Accountants Cross Chambers 9 High Street Newtown Powys SY16 2NY

10 October 2024

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Provision of Advice & Information
Investment income
3
Total
EXPENDITURE ON
Charitable activities
5
Provision of Advice & Information
Net gains/(losses) on investments
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 31.3.24
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
1,082
-
1,082
59,239
536,286
595,525
4,167
-
4,167
64,488
536,286
600,774
41,466
534,086
575,552
(34)
-
(34)
22,988
2,200
25,188
285,938
9,574
295,512
308,926
11,774
320,700		 31.3.23
Total
funds
£
26
536,487
1,169
537,682
537,036
175
821
294,691
295,512

The notes form part of these financial statements

Page 14

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Balance Sheet 31 March 2024

Notes
FIXED ASSETS
Tangible assets
12
Investments
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.3.24
£
429
1,587
2,016
10,071
389,284
399,355
(80,671)
318,684
320,700
320,700
308,926
11,774
320,700		 31.3.23
£
573
1,621
2,194
24,138
352,834
376,972
(83,654)
293,318
295,512
295,512
285,938
9,574
295,512

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 15

continued...

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Balance Sheet - continued 31 March 2024

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 10 October 2024 and were signed on its behalf by:

C Thomas - Trustee

The notes form part of these financial statements

Page 16

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Cash Flow Statement for the Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 31.3.24
£
32,391
32,391
4,059
4,059
36,450
352,834
389,284		 31.3.23
£
13,007
13,007
990
990
13,997
338,837
352,834

The notes form part of these financial statements

Page 17

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Cash Flow Statement for the Year Ended 31 March 2024

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW
Net income for the reporting period (as per the Statement
Financial Activities)
Adjustments for:
Depreciation charges
Losses/(gain) on investments
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank and in hand
Total		 FROM OPERATING ACTIVITIES
31.3.24
31.3.23
£
£
of
25,188
821
144
191
34
(175)
(4,059)
(990)
14,067
(15,485)
(2,983)
28,645
32,391
13,007
At 1.4.23
Cash flow
At 31.3.24
£
£
£
352,834
36,450
389,284
352,834
36,450
389,284
352,834
36,450
389,284

The notes form part of these financial statements

Page 18

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Dividends
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Other contributions
Provision of Advice & Information
Grants
Provision of Advice & Information
Grants received, included in the above, are as follows:
Powys CC - Core Grant
Town & Community Councils
Powys Teaching Health Board
Henry Smith Charity
PCC - Empowerment Through In-house Advice
Gwendoline & Margaret Davies Charity
Newtown Town Council
WG Advicelink Community Focused
WG Advicelink Specialist
PAVO Making a Difference
WG Advicelink & Claim What's Yours
CITA Warmer Wales 2
CITA Energy Advice Programme
Trussell Trust Foodbank Extra
Basic Income Pilot
Powys CC Ukranian Support
MAPS Financial Well-being Forums
WG Access Partner Funding
WG Winter Payment
CITA Cost of Living Support
Powys Teaching Health Board Mental Health		 31.3.24
£
1,082
31.3.24
£
108
4,059
4,167
31.3.24
£
258
595,267
595,525
31.3.24
£
51,203
810
3,356
59,200
26,500
-
4,506
138,475
96,686
6,103
30,122
41,479
24,150
34,090
34,704
-
-
6,563
9,833
15,102
12,385
595,267		 31.3.23
£
26
31.3.23
£
179
990
1,169
31.3.23
£
1,239
535,248
536,487
31.3.23
£
51,204
971
2,919
43,725
26,500
2,500
4,370
131,881
92,082
3,194
32,185
21,188
41,500
22,427
24,789
21,963
9,350
2,500
-
-
-
535,248

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

5. CHARITABLE ACTIVITIES COSTS

Direct
Costs (see
note 6)
£
Provision of Advice & Information
565,079
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rent
Insurance
Telephone, Post & Stationery
Travel
Training/recruitment
CITA information
Computer costs
Depreciation
7.
SUPPORT COSTS
Management
£
Provision of Advice & Information
7,473
8.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Other operating leases		 Support
costs (see
note 7)
£
10,473
31.3.24
£
491,288
24,830
4,341
23,469
5,384
4,703
5,191
5,729
144
565,079
Governance
costs
£
3,000
31.3.24
£
144
24,830		 Totals
£
575,552		 Totals
£
575,552
31.3.23
£
476,825
20,636
3,574
13,239
2,755
1,306
6,356
1,584
191
526,466
Totals
£
10,473
31.3.23
£
192
20,636

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

9. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

Reimbursements totalling £121 were made to two Trustees in respect of expenses incurred in the performance of their duties (2023 £49 (one)).

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.3.24
£
437,361
26,803
27,124
491,288		 31.3.23
£
422,875
28,348
25,602
476,825

The average monthly number of employees during the year was as follows:

Service Providers
Administration		 31.3.24
21
2
23		 31.3.23
20
2
22

The charity considers its key management personnel comprise the senior management listed on page 11. The total employment benefits including employer pension contributions of the key management personnel for the year ended 31 March 2024 were £123,248 (2023: £122,779).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Provision of Advice & Information
Investment income
Total
EXPENDITURE ON
Charitable activities
Provision of Advice & Information
Net gains on investments
NET INCOME		 Unrestricted
funds
£
26
83,204
1,169
84,399
84,159
175
415		 Restricted
funds
£
-
453,283
-
453,283
452,877
-
406		 Total
funds
£
26
536,487
1,169
537,682
537,036
175
821

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
RECONCILIATION OF FUNDS
Total funds brought forward 285,523 9,168 294,691
TOTAL FUNDS CARRIED FORWARD 285,938 9,574 295,512
12. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2023 and 31 March 2024 25,651
DEPRECIATION
At 1 April 2023 25,078
Charge for year 144
At 31 March 2024 25,222
NET BOOK VALUE
At 31 March 2024 429
At 31 March 2023 573
13. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 April 2023 1,621
Revaluations (34)
At 31 March 2024 1,587
NET BOOK VALUE
At 31 March 2024 1,587
At 31 March 2023 1,621
There were no investment assets outside the UK.

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
£
Prepayments and accrued income
10,071
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
£
Trade creditors
1,834
Social security and other taxes
9,541
Accruals and deferred income
69,296
80,671
16.
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24
£
Within one year
21,848
17.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.24
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
Fixed assets
429
-
429
Investments
1,587
-
1,587
Current assets
387,581
11,774
399,355
Current liabilities
(80,671)
-
(80,671)
308,926
11,774
320,700		 31.3.23
£
24,138
31.3.23
£
1,088
6,635
75,931
83,654
31.3.23
£
21,848
31.3.23
Total
funds
£
573
1,621
376,972
(83,654)
295,512

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS

Unrestricted funds
Core fund
Restricted funds
Energy Champion
MAPS Redundancy
WG Advicelink & Claim Whats Yours
PAVO Making a Difference
Basic Income Pilot
PTHB Mental Health
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Core fund
64,488
Restricted funds
Henry Smith
59,200
Empowerment
26,500
Energy Champion
24,150
WG Advicelink Community Focused
138,475
WG Advicelink Specialist Debt
74,235
WG Advicelink Specialist
22,451
WG Advicelink & Claim Whats Yours
32,375
PAVO Making a Difference
6,103
Moondance Covid 19 Relief Fund
41,479
Foodbank
34,090
Basic Income Pilot
34,704
General Advice
20,306
WG Winter Payment
9,833
PTHB Mental Health
12,385
536,286
TOTAL FUNDS
600,774		 At 1.4.23
£
285,938
-
9,168
75
-
331
-
9,574
295,512
Resources
expended
£
(41,466)
(59,200)
(26,500)
(22,500)
(138,475)
(74,235)
(22,451)
(32,450)
(5,845)
(41,479)
(34,090)
(34,704)
(20,306)
(9,833)
(12,018)
(534,086)
(575,552)		 Net
movement
in funds
£
22,988
1,650
-
(75)
258
-
367
2,200
25,188
Gains and
losses
£
(34)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(34)		 At
31.3.24
£
308,926
1,650
9,168
-
258
331
367
11,774
320,700
Movement
in funds
£
22,988
-
-
1,650
-
-
-
(75)
258
-
-
-
-
-
367
2,200
25,188

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Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
Core fund
Restricted funds
MAPS Redundancy
WG Advicelink & Claim Whats Yours
Basic Income Pilot
TOTAL FUNDS		 At 1.4.22
£
285,523
9,168
-
-
9,168
294,691		 Net
movement
in funds
£
415
-
75
331
406
821		 At
31.3.23
£
285,938
9,168
75
331
9,574
295,512

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Core fund
Restricted funds
Henry Smith
Empowerment
WG Advicelink Community Focused
WG Advicelink Specialist Debt
WG Advicelink Specialist
WG Advicelink & Claim Whats Yours
Social Value Forum Development Fund
Moondance - Powys Energy Specialist
CITA Moondance Energy
Foodbank
Basic Income Pilot
Powys CC Ukranian Support
Money Advice and Pension Service -
Financial well-Being Forums
Access Patner Fund
TOTAL FUNDS		 Incoming
resources
£
84,398
43,725
26,500
131,881
70,701
21,381
32,185
3,194
21,188
41,500
22,427
24,789
1,963
9,350
2,500
453,284
537,682		 Resources
expended
£
(84,158)
(43,725)
(26,500)
(131,881)
(70,701)
(21,381)
(32,110)
(3,194)
(21,188)
(41,500)
(22,427)
(24,458)
(1,963)
(9,350)
(2,500)
(452,878)
(537,036)		 Gains and
losses
£
175
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
175		 Movement
in funds
£
415
-
-
-
-
-
75
-
-
-
-
331
-
-
-
406
821

Page 26

continued...

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 27

Cyngor Ar Bopeth Powys Citizens Advice Bureau

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

31.3.24
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
1,082
Investment income
Dividends
108
Deposit account interest
4,059
4,167
Charitable activities
Other contributions
258
Grants
595,267
595,525
Total incoming resources
600,774
EXPENDITURE
Charitable activities
Wages & salaries
437,361
National insurance
26,803
Pensions
27,124
Rent
24,830
Insurance
4,341
Telephone, Post & Stationery
23,469
Travel
5,384
Training/recruitment
4,703
CITA information
5,191
Computer costs
5,729
Fixtures and fittings
144
565,079
Support costs
Management
Other support costs
7,473
Governance costs
Accountancy fees
3,000
Total resources expended
575,552
Net income
25,222		 31.3.23
£
26
179
990
1,169
1,239
535,248
536,487
537,682
422,875
28,348
25,602
20,636
3,574
13,239
2,755
1,306
6,356
1,584
191
526,466
7,510
3,060
537,036
646

This page does not form part of the statutory financial statements

Page 28