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2022-03-31-accounts

Company no. 4389411 Charity no. 1096398

Citizens Advice Stroud & Cotswold Districts Limited Report and Unaudited Financial Statements 31 March 2022

Citizens Advice Stroud & Cotswold Districts Limited

Reference and administrative details

For the year ended 31 March 2022 For the year ended 31 March 2022
Company number 4389411
Charity number 1096398
Registered office and Unit 8 1st Floor
operational address Brunel Mall
London Road
Stroud
Gloucestershire
GL5 2BP
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
Martin Cook appointed 6 October 2021
Gordon Craig
Claire Feehily
Carolyn Folley appointed 6 October 2021
John Hammond
Juliet Kilty
Barry O'Driscoll appointed 6 October 2021
Elaine McCarthy resigned 1 May 2022
Beatrix Pitel appointed 6 October 2021
Simon Pitt appointed 6 October 2021
resigned 24 January 2022
Martyn Price appointed 6 October 2021
Sarah Quinn resigned 26 January 2022
Jane Whaley appointed 6 October 2021
Chief executive officer Elizabeth Hall
and company secretary
Bankers Unity Trust Bank NatWest
PO Box 7193 Bank Buildings, George Street
Planetary Road Stroud
Willenhall Gloucester
WV1 9DG GL5 3DT
Scottish Widows Bank
PO Box 883
Leeds
LS1 9TY
Independent Godfrey Wilson Limited
examiners Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

Governing document

The organisation is a registered charity. It became incorporated on 7 March 2002 as a company limited by guarantee with charitable status and is governed by its Memorandum and Articles of Association. The name of the organisation was changed, on 13th September 2016, to Citizens Advice Stroud & Cotswold Districts Limited and the Articles of Association were amended accordingly. The Articles of Association were further amended on 21 December 2020 to permit and regulate remote meetings.

Recruitment and appointment of trustees

Trustees are recruited from the local community, with particular individuals and communities targeted depending on the skills or knowledge gaps identified by serving Trustees. Interested individuals are required to submit a statement of their experience and qualifications and go through a selection process operated by the Chair of Trustees and then elected by the charity's membership at the annual general meeting. Additional Trustees may be co-opted by the Board of Trustees during the year.

During 2021, the Trustees reviewed the present structure and diversity of the Board and commenced a recruitment drive for new Trustees from the local area, local community groups and stakeholders.

A very positive response resulted in the recruitment of seven new Trustees who were elected at the annual general meeting in October 2021.

The Board has been most impressed by the interest, experience and quality of the new Trustees and is confident that the new Board will be able to develop and continue to meet the challenges that face Citizens Advice in these uncertain times.

Trustee induction and training

There are induction procedures for new trustees to make them aware of their role and training is offered throughout their term of office.

Trustees are encouraged to attend appropriate external training events where these will facilitate the understanding of their role.

Organisational structure

Citizens Advice Stroud & Cotswold Districts Limited is an independent member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Citizens Advice appoints a representative who is invited to attend the Board as a non-voting member.

The charity is governed through a Trustee Board. Trustees who have held office during the year are listed on page 1. The Articles of Association provide for a minimum of three and a maximum of twenty-one Trustees.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

The voluntary Board of Trustees governs the charity and defines overall policy and future strategy. It also monitors performance, risk and the quality of service. The Board is ultimately responsible for the financial control of the organisation and for financial reporting to its members and others. All Trustees have a responsibility to safeguard the resources of the organisation, and to use them in an economical and effective way furthering the work of the charity. The Trustee Board meets every two months at least, in addition to holding its Annual General Meeting.

The Board has two sub-committees, the Finance and Risk sub-committee and the HR sub-committee which meet regularly throughout the year. These discuss and work on issues in more detail and make recommendations to the Board. Only the full Board can make decisions, but the Board can delegate authority to a sub-committee to make a decision on a specific issue. The Finance and Risk subcommittee of the Board has delegated responsibility for receiving and scrutinising the quarterly financial reports, annual budget, all other financial issues and the organisational risk log, and making recommendations to the full Board.

The Trustee Board discusses the finances on a quarterly basis. Financial Reports are circulated in advance of Board meetings and are scrutinised in detail by the Finance and Risk sub-committee. Day to day management of the charity is delegated to the Chief Executive Officer. In addition, there is an experienced team of paid staff and volunteers who are key to the service offered by the charity. Decisions are made by the Trustee Board in line with the Business Development Plan and are reviewed at least annually.

The Senior Leadership Team meet to review progress against targets and the Charity's financial position and to discuss issues referred to them by the Trustee Board. Reports and recommendations are then taken to the full Board for approval, and their implementation is organised by the Chief Executive Officer and the staff team. There are regular staff, volunteer and Senior Leadership Team meetings which ensure that progress is being made against targets. There is an Annual General Meeting, which involves the staff team, Trustee Board, members, and other stakeholders.

The day to day service is delivered by a team of 56 volunteers assisted by a small team of paid staff. In addition, the service is supported by a number of volunteer fundraisers and dedicated research and campaign group members. In the Cotswold District, the charity operates under the name of Citizens Advice Cotswold District from its main office in Cirencester. Pre-Covid, the charity operated from outreach advice outlets in Tetbury and Moreton-in-March and these have now reopened. In the Stroud District, the charity operates under the name of Citizens Advice Stroud District from its main office in Stroud. Pre-pandemic, there were outreach advice outlets in Berkeley, Dursley, Nailsworth, Stonehouse and Wotton-under-Edge. Post-Covid, the following outreaches have now opened: Dursley; Stonehouse APT; Wotton-under-Edge (in a new venue at the Keepers Community Hub) and Paganhill Community Hub.

Key risks and uncertainties

The organisation actively monitors its risk profile by way of a risk register, which identifies the principal risks, the likelihood of occurrence and their potential impact on the work of the charity. The register, together with the wider risk landscape and environment is regularly considered by the Finance and Risk sub-committee, which meets at every two months, and thereafter by the Board.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Key risks and issues currently being actively managed are:

Objectives and activities

Objects

The Charity's 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 the Districts of Stroud, Cotswold, Gloucestershire and surrounding areas.

In furtherance of these objectives, the company provides advice and information via a variety of communication channels. Our aims are focused on:

Our service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. We value diversity, promote equality and challenge discrimination.

The charity has developed its own vision statement to reflect its ambition to become the leading advice service across Stroud and Cotswold Districts:

A caring, dynamic and skilful organisation reaching out to every corner of the community to supply quality advice and support…. The advice service of choice!

Ensuring our work delivers our aims

A robust and forward-thinking review of the organisation took place when the 2021/24 Business Plan was produced. The 2021/24 plan provided an opportunity to reset and refocus the organisation and build solid and lasting foundations, after a particularly challenging year.

The business plan for 2022/25 seeks to embed the progress made in 2021/22 and reinforce our ambition to become the leading advice service across Stroud and Cotswold Districts, providing accessible, high-quality advice, advocacy and information services, which meet the changing needs of our geographically dispersed communities.

How our activities deliver public benefit

Our main activities and who we try to help are described below. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The Board of Trustees has had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Achievements and performance

Advice and information services

The main areas of charitable activity are:

During 2021-22, we offered advice and information in the following ways:

We also endeavoured to advise clients who come to the offices with an urgent issue on the day – either in person, via telephone or via Teams video link on a dedicated PC.

In addition to general advice, the following specialist services were provided in 2021-22:

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Whilst we aim to empower clients to resolve their problems using the advice we give, many of our clients need additional support in order to achieve a solution. This may be due to the vulnerability of the client, the complexity of the problems or a combination of the two.

Whilst we endeavour to resolve a client’s issue as quickly as possible, we do not limit clients to a set number of appointments or to a limited timescale that they can access our help. Where needed and with the appropriate consent, we contact third parties on behalf of clients by making telephone calls or writing letters.

Some clients will need appointments over several weeks or months with multiple specialists within the organisation. For example a client with debt issues may need not only debt advice, but specialist benefits advice and support as well as specialist energy advice to maximise their income and ensure that their income will be sufficient to avoid further debt issues in the future.

Contribution of Volunteers and Paid Staff

The charity’s success could not have been achieved without the hard work and dedication of volunteers and staff. The Trustee Board and senior leadership team recognise the tremendous contribution made by the charity’s volunteers in advising the public and administering the service without which the service could not operate. Throughout 2021/22 the service employed 29 paid workers and 90 volunteers (including fundraisers) together delivering projects in addition to the core service.

Volunteers represent the indispensable core of the service for without them there would not be a Citizens Advice service.

We have been fortunate that during the pandemic a high percentage of volunteers were prepared to work remotely and that many volunteers continued with volunteering with us at the same time as managing increased caring responsibilities for friends, neighbours and family members.

In pre pandemic times, the volunteer advisers and receptionists contributed, on average, 7 hours per week each. However, during the last two years, we are very aware that many volunteers and staff members worked for many more hours than they did when we were in the offices. We are very grateful to everyone for their commitment to our clients and the running of our service.

Volunteers also bring many other skills to the service. Citizens Advice Stroud & Cotswold Districts has continued to recruit and train staff and volunteers throughout the pandemic. However, along with other local Citizens Advice, we are aware that training remotely could be difficult and this limited the number of new advisers that were recruited and retained. We consistently review our training offer to ensure that we provide an accessible and welcoming place to volunteer.

Who used and benefited from our services?

During the reporting year the organisation:

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Our staff and volunteers assist a wide range of clients:

Factors affecting the achievement of objectives

The year ending 31st March 2022 continued to be a challenging year for Citizens Advice Stroud & Cotswold District as the Covid-19 pandemic continued. The guidance to work from home was not lifted until July 2021 and was reintroduced in December 2021 until 19 January 2022. Balancing remote working with the need to open the offices to ensure vulnerable and disadvantaged clients can access advice proved to be a challenge.

Financial review

The Trustees have continued to focus on delivering a cost-effective service that meets the needs of our clients. The Charity was fortunate to receive funding above that expected from a number of sources in 2021/22 resulting in a surplus for the year. The EUSS project that was scheduled to end on 30 September 2021 was extended for a further six months, we agreed a grant with Stroud District Foodbank for a dedicated adviser and received funding for the full year from Cotswold District Council. We were successful in our applications for several Covid related grants.

The reserves of the Charity have grown in recent years with additional funding and unexpected salary savings due to vacant posts. The Trustees have reviewed our reserves policy and aim to only hold reserves sufficient to cover expected funding gaps for the next 3 years. This allows us to consider a funding programme in 2022/23 that will allow us to replace outdated IT infrastructure and improve services to our clients.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Income for the year was £730,808. We spent £591,780 giving a surplus of £139,028. The surplus will be used to support the charity in 2022-23. The charity has total reserves of £576,653 – please see the breakdown on page 14 for further details.

We are very grateful to everyone who has contributed to the organisation, be that from donations, legacies, grants and voluntary effort. During the year we received funding from Citizens Advice, Stroud District Council, Cotswold District Council, Gloucestershire County Council, the Home Office, Good Things Foundation, the Julia and Hans Rausing Trust, Nationwide, Police Crime Commissioner for Gloucestershire, St James’s Place, North Cotswolds Foodbank, Cirencester Foodbank, Stroud District Foodbank, Stroud Town Council and other Town and Parish Councils.

We continue to receive core funding from Stroud District Council, Cotswold District Council and Gloucestershire County Council and thank them for their ongoing support. We are also grateful to those local town and parish councils who have been able to make grants available to us, during the last two difficult years.

We received a grant from the Good Things Foundation to support clients using HMRC’s online services. We continue to receive a grant from Stroud District Council for preventing homelessness through debt advice. We also received funding from national Citizens Advice for energy advice, the Help to Claim project and funding for a debt trainee under the Money Advice and Pensions Service Increasing Capacity project. We received a grant from the Office of the Police Crime Commissioner to support clients experiencing domestic abuse. We also received funding from the Home Office for the EU Settlement Scheme project with partner agencies in Gloucestershire. The North Cotswold Foodbank, the Cirencester Foodbank and the Stroud District Foodbank have each funded a dedicated foodbank adviser for foodbank clients in their respective areas.

We are grateful to our two district-based, volunteer led, fundraising groups. Whilst Covid -19 has had an impact on their ability to raise money through street collections and fundraising activity, they have continued to find innovative ways to raise funds, increase our profile and promoted the organisation.

In addition, we are grateful to the local businesses who have supported our work, whether indirectly through the provision of reduced-rate services or premises, or through donations.

At the meeting in May 2022, the Trustee Board approved the funding and expenditure budgets for 2022/23.

Stroud PR and Fundraising Committee

Due to Covid restrictions, our Committee has again been restricted in the amount we have been able to do over the last year.

However, we managed to have a Street Collection in Stroud in October 2021 where we handed out leaflets to inform as many as possible that our service was still available, at least by phone and email and also raised around £250.

As a charity, we were heartened by the continued financial support given over this time. In particular, we requested help to equip our outreach offices with computers so they could start to reopen. Many computers had been used so that volunteers could work from home but this meant there was a need to re-equip the outreach offices. The response was much appreciated.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Plans for 2022/23:

With the help of our supporters we have continued to raise, with gift aid, £24,000.

Friends of Cotswold Citizens Advice

In December the Friends changed their charity registered name from Friends of Cirencester CAB to Friends of Cotswold Citizens Advice, to accord more closely with the current Citizens Advice branding. There was no change to the charity's main purpose, which is to support the Citizens Advice service in Cirencester and the surrounding Cotswold District.

Due to Covid, it was not possible to arrange any fundraising events during the year, and, as the Phoenix Festival was cancelled, we were unable to have our promotional stand there. Despite this, and thanks to the generosity of donors, the Friends were able to assist Cotswold Citizens Advice with grants totalling some £27,500. Payments were made to help with the cost of the Money Advice service; to assist with the cost of an adviser at the Cirencester foodbank; to provide a small "crisis fund", and towards IT equipment and other expenses.

The Friends organised a street collection in Cirencester for Cotswold Citizens Advice in December. Unfortunately, it was a cold, windy day, and although there was a market, footfall in town was low. Further street collections are planned, to raise funds and to promote the service.

We do need more volunteers to help on occasion with our events and activities. Anyone interested is asked to contact us at FOCCAB@gmail.com.

Reserves policy

The reserves policy for Citizens Advice Stroud & Cotswold Districts is reviewed annually by the Board. We maintain free reserves at such a level as: (i) to provide adequate working capital in the event of potential changes of funding from major funders, (ii) to meet staff redundancy costs and premises costs should the organisation have to severely reduce in size, (iii) Provision for settlement of The Pension Trust Employer Debt, in the event that the organisation is forced to close and has no active employees in The Pension Trust, (iv) to mitigate some key risks facing the charity. In particular, the target level for free reserves aims to give a reasonable chance of survival should one of these risks occur: it is recognised that it is not possible, nor it is intended, to protect against every risk. The Board assesses the Charity's target and actual reserves annually. When the level of reserves is materially different from the target level, the Board will determine what action should be taken.

Our reserves target is £182,672. We measure free reserves as total assets less endowments, restricted funds, designated reserves, undepreciated fixed assets and any approved budget deficits. Our free reserves at 31 March 2022 were £100,786.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

Future plans

The Trustee Board approved the Business Plan for 2022-25 in March 2022. The Business Plan seeks to embed and build on the progress made in 2021/22.

The Action plan continues to be based on the five areas of focus in Citizens Advice “Future of Advice Strategic Framework” (2019-2022/3): Advice, Advocacy. Technology, Sustainability and Culture. Key aims for the next 12 months include:

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

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

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2022

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 14 October 2022 and signed on their behalf by

Claire Feehily - Chair

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Independent examiner's report

To the trustees of

Citizens Advice Stroud & Cotswold Districts Limited

I report to the trustees on my examination of the accounts of Citizens Advice Stroud & Cotswold Districts Limited (the charitable company) for the year ended 31 March 2022, which are set out on pages 13 to 32.

Responsibilities and basis of report

As the trustees of the charitable 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 charitable 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 the charitable company'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 the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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

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.

Date: 17 October 2022 Alison Godfrey FCA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Citizens Advice Stroud & Cotswold Districts Limited

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
36,000
30,928
Charitable activities
4
343,568
319,842
Other trading activities
-
399
Investments
-
71
Total income
379,568
351,240
Expenditure on:
Raising funds
-
38,758
Charitable activities
358,824
194,198
Total expenditure
5
358,824
232,956
Net income
20,744
118,284
Transfers between funds
3,122
(3,122)
Other recognised gains:
-
13,554
Net movement in funds
7
23,866
128,716
Reconciliation of funds:
Total funds brought forward
113,204
310,867
Total funds carried forward
137,070
439,583
Gains on remeasurement of defined benefit
pension scheme		 2022
Total
£
66,928
663,410
399
71
730,808
38,758
553,022
591,780
139,028
-
13,554
152,582
424,071
576,653		 2021
Total
£
84,042
529,736
196
70
614,044
68,849
434,010
502,859
111,185
-
3,108
114,293
309,778
424,071

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

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Citizens Advice Stroud & Cotswold Districts Limited

Balance sheet

As at 31 March 2022

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
12
Net current assets
Total assets less current liabilities
Provisions for liabilities
13
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
39,019
573,648
612,667
(39,232)		 2022
£
6,477
573,435
579,912
(3,259)
576,653
137,070
282,835
156,748
576,653		 2021
£
13,513
40,169
440,034
480,203
(52,832)
427,371
440,884
(16,813)
424,071
113,204
167,673
143,194
424,071

The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477(2), and that no member or members have requested an audit pursuant to section 476 of the Act.

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Citizens Advice Stroud & Cotswold Districts Limited

Balance sheet

As at 31 March 2022

The directors acknowledge their responsibilities for:

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 14 October 2022 and signed on their behalf by

Claire Feehily - Chair

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Citizens Advice Stroud & Cotswold Districts Limited

Statement of cash flows

For the year ended 31 March 2022

Cash flows from operating activities:
Net movement in funds
Adjustments for:
Depreciation
Interest received
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Increase / (decrease) in provisions
Net cash provided by / (used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
152,582
7,036
(71)
1,150
(13,600)
(13,554)
133,543
71
71
133,614
440,034
573,648		 2021
£
114,293
7,329
(70)
(21,690)
20,695
(3,108)
117,449
70
70
117,519
322,515
440,034

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

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Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Citizens Advice Stroud & Cotswold Districts Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. The charity has been able to increase its reserves over recent years and we recently changed our reserves policy to aim to hold enough reserves to cover expected shortfalls for the next 3 years. This leaves us in the fortunate position to have additional funds that we are aiming to spend this year to improve our services. On this basis the trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

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Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies (continued)

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the following basis, which is an estimate of staff time:

2022 2021
Raising funds 7.3% 11.6%
Charitable activities 92.7% 88.4%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 3 years straight line Fixtures and fittings 20% reducing balance

Items of equipment are capitalised where the purchase price exceeds £1,000.

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash 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.

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Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies (continued)

k) Creditors

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 to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Conduit funding

Conduit funds are monies received for third parties and do not belong to the charity. The incoming funds and outgoing payments are excluded from the Statement of Financial Activities. Any conduit funds in hand at the year end are shown as creditors in the accounts.

n) Pension costs (defined contribution)

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.

o) Pension costs (defined benefit)

The charitable company participates in a multi-employer defined benefit pension scheme. It is not possible for the charitable company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. The scheme is therefore accounted for as a defined contribution scheme. A provision is recognised in these accounts for the net present value of future contributions payable under the scheme (see note 13). The valuation is determined with reference to the charity's pension provider, TPT Retirement Solutions.

p) Finance and operating leases

Rentals payable under operating leases are charged to the SOFA over the period in which the cost is incurred. The charity has no finance leases.

19

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies (continued)

q) Accounting estimates and key judgements

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation as described in note 1 (h) and the pension provision as per note 1 (o).

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Transfers between funds
Other recognised gains / (losses):
Net movement in funds
Gains / (losses) on remeasurement of defined benefit
pension scheme		 Restricted
£
£
-
84,042
256,682
273,054
-
196
-
70
256,682
357,362
-
68,849
259,999
174,011
259,999
242,860
(3,317)
114,502
39,152
(39,152)
-
3,108
35,835
78,458
Unrestricted		 2021
Total
£
84,042
529,736
196
70
614,044
68,849
434,010
502,859
111,185
-
3,108
114,293

20

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

3. Income from donations

Income from donations
Donations
Legacies
Fundraising
Total income from donations		 Restricted
£
£
36,000
30,031
-
-
-
897
36,000
30,928
Unrestricted		 2022
Total
£
66,031
-
897
66,928		 2021
Total
£
30,909
50,000
3,133
84,042

All income from donations in the prior year was unrestricted.

4. Income from charitable activities

Stroud District Council - core funding
Cotswold District Council - core funding
Help 2 Claim
St James Place Foundation
Stroud District Council - housing related debt
Covid grants
Citizens Advice - money advice service
North Cotswold Foodbank
Cirencester Foodbank
Stroud Foodbank
Citizens Advice - energy advice program
Town and Parish Councils
Citizens Advice - BESN / BESW - energy project
Good Things Foundation
Other grants
Julia and Hans Rausing Trust
Police & Crime Commissioner for Gloucester
Cotswold District Council - household support fund
Gloucester County Council for benefits
Cotswold District Council - covid hardship fund
North Cotswold Foodbank
Total income from charitable activities
Gloucestershire County Council - EU settlement scheme
and core funding		 Restricted
£
£
-
125,000
-
70,920
28,235
-
12,000
-
25,274
-
51,821
52,935
-
23,577
41,893
-
10,659
-
9,750
-
21,252
-
14,952
-
-
15,660
5,063
-
4,800
-
-
11,250
-
15,000
5,000
-
36,869
5,500
20,000
-
50,000
-
6,000
-
343,568
319,842
Unrestricted		 2022
Total
£
125,000
70,920
28,235
12,000
25,274
104,756
23,577
41,893
10,659
9,750
21,252
14,952
15,660
5,063
4,800
11,250
15,000
5,000
42,369
20,000
50,000
6,000
663,410

21

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

4. Income from charitable activities (continued) Prior period comparative:

Prior period comparative:
Stroud District Council - core funding
Help Through Crisis
Cotswold District Council - core funding
Help 2 Claim
St James Place Foundation
Stroud District Council - housing related debt
Covid grants
Citizens Advice - money advice service
North Cotswold Foodbank
Cirencester Foodbank
Citizens Advice - energy advice program
Town and Parish Councils
Citizens Advice - BESN / BESW - energy project
Good Things Foundation
Other grants
Julia and Hans Rausing Trust
Police & Crime Commissioner for Gloucester
Total income from charitable activities
Gloucestershire County Council - EU settlement scheme
and core funding		 2021
Restricted
Total
£
£
£
-
125,000
125,000
85,175
-
85,175
-
66,420
66,420
31,013
-
31,013
30,925
10,000
40,925
25,260
-
25,260
11,800
25,000
36,800
-
24,909
24,909
19,858
-
19,858
11,991
-
11,991
7,250
-
7,250
12,390
-
12,390
-
9,325
9,325
9,000
-
9,000
7,020
-
7,020
-
6,900
6,900
-
5,500
5,500
5,000
-
5,000
256,682
273,054
529,736
Unrestricted

Government grants

The charitable company receives government grants, defined as funding from local, town and parish Councils, and the Police & Crime Commissioner to fund charitable activities. The total value of such grants in the period ending 31 March 2022 was £314,789 (2021: £280,914). There are no unfulfilled conditions or contingencies attaching to these grants.

22

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

5.
Total expenditure
£
Staff costs (note 8)
21,334
Grants paid (note 6)
-
Staff and volunteer expenses
-
Staff and volunteer training
-
Staff recruitment expenses
-
Premises costs
-
Communications & IT
-
General office
-
Finance costs
-
Consultancy costs
3,078
Governance costs
-
Depreciation costs
-
Sub-total
24,412
Allocation of support and governance costs
14,346
Total expenditure
38,758
Total governance costs were £4,537 (2021: £4,147).
Prior period comparative
£
Staff costs (note 8)
26,867
Grants paid (note 6)
-
Staff and volunteer expenses
-
Staff and volunteer training
-
Staff recruitment expenses
-
Premises costs
-
Communications & IT
-
General office
299
Finance costs
-
Consultancy costs
15,205
Governance costs
-
Depreciation costs
-
Sub-total
42,371
Allocation of support and governance costs
26,478
Total expenditure
68,849
Raising
funds
Raising
funds		 £
£
272,205
71,376
85,853
-
2,227
-
875
-
1,135
-
-
47,262
-
18,927
-
22,053
-
21,570
7,695
4,617
-
4,537
-
7,036
369,990
197,378
183,032
(197,378)
553,022
-
£
£
205,655
89,231
20,836
-
1,792
-
1,182
-
1,505
-
-
41,553
-
14,238
-
22,729
-
21,013
364
28,914
-
4,147
-
7,329
231,334
229,154
202,676
(229,154)
434,010
-
Charitable
activities
Support and
governance
Charitable
activities
Support and
governance		 £
364,915
85,853
2,227
875
1,135
47,262
18,927
22,053
21,570
15,390
4,537
7,036
2022
Total
591,780
-
591,780
£
321,753
20,836
1,792
1,182
1,505
41,553
14,238
23,028
21,013
44,483
4,147
7,329
2021
Total
502,859
-
502,859

23

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

6. Grants payable

Grants payable to institutions:
Chum Neighbourhood Project
GL11 Community
Stroud Bereford Group
Total grants payable to institutions
Grants payable to individuals:
Total grants payable		 2022
£
-
-
2,100
2,100
83,753
85,853		 2021
£
8,376
8,000
4,460
20,836
-
20,836

All grants are paid to fund charitable activities. The grants shown above do not include any contribution to core costs.

7. Net movement in funds

This is stated after charging:

Depreciation
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration:
▪Independent examination (including VAT)
Staff costs and numbers
Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs		 2022
£
7,036
Nil
Nil
3,480
2022
£
325,564
22,574
16,777
364,915		 2021
£
7,329
Nil
Nil
3,000
2021
£
288,200
17,894
15,659
321,753

8. Staff costs and numbers

Included within the prior year salaries and wages above are termination and redundancy payments of £12.9k. No equivalent costs were incurred in the current year.

No employee earned more than £60,000 during the year.

24

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

8. Staff costs and numbers (continued)

The key management personnel of the charitable company comprise the Trustees, Chief Executive Officer, and Advice Service Managers. The total emoluments paid to key management personnel, including termination payments and invoiced costs paid to the interim Chief Executive, for the year was £102,878 (2021: £144,812).

Average head count 2022
No.
19.4		 2021
No.
15.3

9. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10. Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2021
Additions in year
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 £
29,352
-
29,352
20,817
6,040
26,857
2,495
8,535
Computer
equipment		 £
27,361
-
27,361
22,383
996
23,379
3,982
4,978
Fixtures and
fittings		 £
56,713
-
Total
56,713
43,200
7,036
50,236
6,477
13,513

25

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

11. Debtors

Trade debtors
Prepayments
Accrued income		 2022
£
4,250
8,307
26,462
39,019		 2021
£
-
9,513
30,656
40,169

12. Creditors : amounts due within 1 year

Trade creditors
Accruals
Other taxation and social security
Other creditors		 2022
£
1,323
29,799
5,460
2,650
39,232		 2021
£
6,021
44,431
585
1,795
52,832

13. Pension provision

The charitable company participates in a multi-employer defined benefit pension scheme. Provision has been made for the net present value of future contributions payable by the charity. The provision is valued based on information provided by TPT Retirement Solutions (dated 31 March 2022). The latest full actuarial valuation of the scheme was dated 30 September 2017 and required participating employers to pay additional contributions to the scheme. The movement on the provision is recognised on the SoFA as an other recognised (gain) / loss.

Provision at the start of the year
Movement in the year
Provision at the end of the year		 2022
£
16,813
(13,554)
3,259		 2021
£
19,921
(3,108)
16,813

26

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

14. Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Provisions
Net assets at 31 March 2022
Prior period comparative
Tangible fixed assets
Current assets
Current liabilities
Provisions
Net assets at 31 March 2021		 Restricted
funds
£
-
137,070
-
-
137,070
Restricted
funds
£
-
113,204
-
-
113,204		 Designated
funds
£
-
282,835
-
-
282,835
Designated
funds
£
-
167,673
-
-
167,673		 General
funds
£
6,477
192,762
(39,232)
(3,259)
156,748
General
funds
£
13,513
199,326
(52,832)
(16,813)
143,194		 Total
funds
£
6,477
612,667
(39,232)
(3,259)
576,653
Total
funds
£
13,513
480,203
(52,832)
(16,813)
424,071

27

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds

Movements in funds
Restricted funds
Housing related debt advice
Stroud benefits
Cotswold money advice
Mental health debt
Universal credit help to claim
Money advice service
Energy advice program
European Union settlement scheme
Foodbanks
Household support fund
Covid Hardship fund
North Cotswold Foodbank fund
Total restricted funds
Designated funds:
Stroud IT fund
Stroud advice
Cotswolds advice
Total designated funds
General funds
Total unrestricted funds
Total funds
Big Energy Saving Network / Big
Energy Saving Winter
Unrestricted funds
Office of the Police and Crime
Commissioner		 At 1 April
2021
£
-
34,068
-
43,589
13,781
1,150
4,898
-
8,935
-
6,783
-
-
-
113,204
6,675
160,998
-
167,673
143,194
310,867
424,071		 Income
£
25,274
40,800
24,000
-
28,235
41,893
14,952
51,821
49,661
5,000
5,063
36,869
50,000
6,000
379,568
-
214,942
136,298
351,240
-
351,240
730,808		 £
(23,915)
(19,317)
(17,469)
(30,281)
(28,534)
(44,660)
(15,138)
(53,298)
(34,200)
(5,028)
(1,131)
(36,869)
(48,984)
-
(358,824)
(6,040)
(128,797)
(98,119)
(232,956)
-
(232,956)
(591,780)
Expenditure		 £
£
-
1,359
-
55,551
-
6,531
-
13,308
-
13,482
1,617
-
-
4,712
1,477
-
-
24,396
28
-
-
10,715
-
-
-
1,016
-
6,000
3,122
137,070
-
635
(2,061)
245,082
(1,061)
37,118
(3,122)
282,835
13,554
156,748
10,432
439,583
13,554
576,653
Transfers
and other
gains
At 31 March
2022
137,070
635
245,082
37,118
282,835
156,748
439,583
576,653

28

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) Purposes of restricted funds

Housing related debt advice To provide advice and support on housing related debt to clients in Stroud and district and in the Cotswold district.

Stroud benefits Funding from the Good Things Foundation to support people to get the information and advice they need from HMRC including helping them to use new online systems.

Cotswolds money advice Specialist casework advice to people in the Cotswolds with money problems to help them to maximise their income, reduce their debts and increase their confidence and competence in managing their financial affairs. Mental health debt To provide funding to improve access to finance related advice for people with mental ill health. Universal credit help to claim The Citizens Advice Help to Claim service provides clients with advice and support in the early stages of a Universal Credit claim up until the first full payment is made. Money advice service Funding for trainee debt adviser to increase the capacity of debt advice in order to meet predicted increased demand for debt advice as a result of Covid-19. Energy advice program Funding to provide one-to-one advice to clients in fuel poverty, or in a fuel poverty risk group. European Union settlement scheme Funding to provide advice and practical support to vulnerable EU, EEA and Swiss citizens living in Gloucestershire to help them make their EU Settlement Scheme application. Foodbanks Funding to provide advice to clients of Cirencester and North Cotswolds Foodbanks.

29

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) Purposes of restricted funds (continued)

Office of the Police and Crime Funding to support victims of domestic abuse. Commissioner

Big Energy Saving Network / Big Funding to help vulnerable consumers to reduce their energy costs, Energy Saving Winter and to run a campaign to raise awareness of energy issues. Household support fund Funds allocated from Cotswold District Council of the Household Support Fund to distribute to eligible families with children. Covid Hardship fund Funds allocated from Cotswold District Council to enable the write off of priority debts for clients affected by the Covid-19 pandemic North Cotswold Foodbank fund An emergency grants fund transferred from the North Cotswold Foodbank to assist clients with emergency financial aid e.g. for fuel, transport and utilities.

Purposes of designated funds

Stroud IT fund For the purchase of new computer equipment for the Stroud district.

Stroud advice Funds raised are designated for the use by the Bureau in the Stroud and District local government area. Cotswold advice Funds raised are designated for the use by the Bureau in the Cotswold and District local government area.

Purpose of transfers between funds

The transfers from the Stroud advice and Cotswold advice designated funds to the three restricted funds are to top up overspends on these projects.

30

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued)
Restricted funds
Housing related debt advice
Help through crises
Stroud benefits
Cotswold money advice
Mental health debt
Universal credit help to claim
Money advice service
Energy advice program
European Union settlement scheme
Foodbanks
Total restricted funds
Designated funds:
Stroud IT fund
Stroud advice
Cotswolds advice
EBDX project
Total designated funds
General funds
Total unrestricted funds
Total funds
Office of the Police and Crime
Commissioner
Big Energy Saving Network / Big
Energy Saving Winter
Unrestricted funds
Prior period comparative		 At 1 April
2020
£
422
14,731
10,543
-
51,673
-
-
-
-
-
-
-
77,369
12,715
78,318
1,290
21,700
114,023
118,386
232,409
309,778		 Income
£
25,260
85,175
25,945
12,000
-
31,013
19,858
12,390
11,800
19,241
5,000
9,000
256,682
-
253,924
103,438
-
357,362
-
357,362
614,044		 £
(36,475)
(99,906)
(2,420)
(28,532)
(8,084)
(17,232)
(18,708)
(7,492)
(20,586)
(10,306)
(8,041)
(2,217)
(259,999)
(6,040)
(129,766)
(107,054)
-
(242,860)
-
(242,860)
(502,859)
Expenditure		 £
£
10,793
-
-
-
-
34,068
16,532
-
-
43,589
-
13,781
-
1,150
-
4,898
8,786
-
-
8,935
3,041
-
-
6,783
39,152
113,204
-
6,675
(41,478)
160,998
2,326
-
(21,700)
-
(60,852)
167,673
24,808
143,194
(36,044)
310,867
3,108
424,071
Transfers
and other
gains
At 31 March
2021		 £
£
10,793
-
-
-
-
34,068
16,532
-
-
43,589
-
13,781
-
1,150
-
4,898
8,786
-
-
8,935
3,041
-
-
6,783
39,152
113,204
-
6,675
(41,478)
160,998
2,326
-
(21,700)
-
(60,852)
167,673
24,808
143,194
(36,044)
310,867
3,108
424,071
Transfers
and other
gains
At 31 March
2021
113,204
6,675
160,998
-
-
167,673
143,194
310,867
424,071

31

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2022

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2022
£
27,959
35,740
63,699		 2021
£
30,687
56,616
87,303

17. Conduit funding

Balance at start of year
Funding received during year
Funding distributed during year
Balance at end of year		 2022
£
1,795
6,526
(5,709)
2,612		 2021
£
1,265
4,326
(3,796)
1,795

Conduit funds are monies received for third parties and do not belong to the charity. The charity passes them through the accounts under a unique project code as a service to other charities to help their charitable purposes, but does not claim gift aid nor has control over their use. The receipts and payments referred to above have been excluded from the Statement of Financial Activities. The balance held at the end of the year is included in other creditors (note 12).

18. Contingent liability

The charity is party to a multi-employer pension scheme with The Pension Trust. The estimated debt on withdrawal (s75 debt) for CAB Stroud & District has been calculated to be £31,902. This figure has an effective date of 30 September 2021. In the prior year the contingent liability was estimated to be £48,930 (effective 30 September 2020). The charity currently has no intention of withdrawing from the scheme.

19. Related party transactions

There were no related party transactions in the current or prior year.

32