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2023-03-31-accounts

Company no. 4389411 Charity no. 1096398

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

31 March 2023

Citizens Advice Stroud & Cotswold Districts Limited

Reference and administrative details

For the year ended 31 March 2023

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
Gordon Craig resigned 14 October 2022
Claire Feehily
Carolyn Folley resigned 14 October 2022
John Hammond
Juliet Kilty
Elaine McCarthy resigned 1 May 2022
Barry O'Driscoll
Beatrix Pitel
Martyn Price
Jane Whaley
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 2023

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 primarily recruited from the community served by the charity, with particular individuals and groups targeted depending on the skills and knowledge gaps identified. Interested individuals are required to submit a statement of their experience and qualifications, go through a selection process and are then formally 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.

Several new Trustees were elected at the Annual General Meeting in October 2021. During 2022-23, the focus has been on developing the Board and the new Trustees. During 2022-23, three Trustees resigned for personal and work related reasons. The Board currently consists of eight Trustees, five of whom were elected in 2021.

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.

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.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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, in addition to holding its Annual General Meeting.

The Board now has three sub-committees, the Finance and Risk sub-committee, the Human Resources sub-committee and the Operational Performance 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 subcommittee to make a decision on a specific issue.

The Trustee Board discusses the finances regularly. 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 53 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 and from two outreach outlets in Tetbury and Moreton-in-Marsh. The Cirencester and North Cotswold Foodbank advisers also operate from Foodbank outlets in the district. 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. During 202223, the following outreach locations were open: Dursley; Stonehouse All Pulling Together; Wottonunder-Edge (at the Keepers Community Hub) and Paganhill Community Hub. The Stroud Foodbank Adviser operates from Foodbank outlets in the Stroud district.

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.

Key risks and issues currently being actively managed are:

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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

The business plan for 2022-25 sought 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.

The business plan for 2023-25 seeks to tailor the four strategic themes of the National Citizens Advice Living Strategy, namely advice/advocacy, inclusive access and organisational health to fit with the needs of the two Districts we serve.

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.

Achievements and performance

Advice and information services

The main areas of charitable activity are:

During 2022-23, we offered advice and information in the following ways:

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

In addition to general advice, the following specialist services were provided in 2022-23:

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.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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 2022-23 the service employed 16 paid workers and 64 volunteers (including fundraisers) together delivering projects in addition to the core service.

The recruitment and retention of paid staff during 2022-23 has proved very challenging and time consuming. This has been the case for front line advisers as well as support and admin staff and, more critically, key specialist managerial roles despite the Leadership team reviewing the nature and content of these roles a number of times to try and attract suitable applications. This is reflected in the reduced average headcount for the year and the lower salary costs. Trustees and the CEO will continue to explore every avenue in the coming year to secure these much needed resources.

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

We were fortunate that during the pandemic, a high number of volunteers were prepared to work remotely. 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. Post pandemic, several volunteers have left for various reasons, including the desire to travel and spend more time with family and friends.

We recruited a new Learning and Development Officer in 2022-23 who has trained her first cohort of generalist advisers. We are focussing on recruiting more volunteers in 2023-24 in order to help meet the increased demand for our services as a result of the cost of living crisis. We are very grateful to everyone for their commitment to our clients and the running of our service.

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 2023

Our staff and volunteers assisted a wide range of clients:

Factors affecting the achievement of objectives

The year ending 31 March 2023 continued to be a challenging year for Citizens Advice Stroud & Cotswold District as the country emerged from the Covid-19 pandemic and the cost of living crisis took hold.

The increased demand as a result of the cost of living crisis also had a major impact on the service, with our resources unable to meet the demand.

We are also seeing more and more clients with very complex issues and/or a much higher number of problems at first presentation, which take longer to resolve.

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 2022-23 resulting in a surplus for the year. The EUSS project was further extended and we received funding for the full year from Cotswold District Council.

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 has allowed us to approve a funding programme in 2022-23 and 2023-24 to replace outdated IT infrastructure, increase support for volunteers and improve services to our clients.

Income for the year was £693,976. We spent £554,237 giving a surplus of £139,739. The surplus will be used to support the charity in 2023-24. The charity has total reserves of £687,177 – please see the breakdown on page 27 for further details. This includes £72,881 from the Household Support Fund which we administer for both Stroud District Council and Cotswold District Council. This money will be paid to clients to assist with energy and wider essentials.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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, the Julia and Hans Rausing Trust, St James’s Place, Ecotricity, the Kinsella Foundation, Gloucestershire Communities Fund (partially funded by the Charles Russell Speechlys Cheltenham Community Fund), North Cotswolds Foodbank, Cirencester Foodbank, Stroud District Foodbank, Stroud Town Council and other Town and Parish Councils.

We are grateful to our two district-based, volunteer led, fundraising groups. They have returned to being able to raise money through street collections and fundraising activity. They have continued to find innovative ways to raise funds, increase our profile and promote 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.

In May 2023, the Trustee Board approved the funding and expenditure budgets for 2023-24.

Stroud PR and Fundraising Committee

Sadly the Stroud Fundraising Group have disbanded after many years of hard work fundraising for the service. Some volunteers will continue to assist the organisation with administration, and publicity which we are grateful for. The trustees wish to thank the fundraising group for their enormous contribution and incredible dedication over many years.

We are grateful to the Stroud Symphony Orchestra whose retiring collection at their concert in June 2023 was in aid of Citizens Advice in Stroud – thank you to Ann Horner for speaking at the event.

Friends of Cotswold Citizens Advice

A successful street collection was held in May 2022 at the same time as a Food Festival.

The Phoenix Festival was held in August 2022 for the first time since Covid and the Friends were able to have a promotional stand there which raised £450.

The Friends also assisted staff and volunteers at the Cirencester PPG Health and Wellbeing Event in June 2022, a collection in Tesco at Tetbury and at the Advent Festival in Cirencester Parish Church in December 2022.

Plans for 2023-24:

Thank you to the Friends for holding a delicious afternoon tea at Cerney House Gardens (including a short talk and a walk around the gardens) during volunteers week to thank all volunteers for their commitment to the organisation.

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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 £246,198. 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 2023 were £164,731.

Future plans

The Business plan for 2023-25 is based on the Citizens Advice Living Strategy and their Business Plan for 2023-26.

The plan is based on the four key strategic priorities: Advice, Advocacy, Inclusive Access and Organisational Health.

Over the next 12 months we will:

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).

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Citizens Advice Stroud & Cotswold Districts Limited

Report of the trustees

For the year ended 31 March 2023

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.

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 17 October 2023 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 2023, which are set out on pages 12 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.

Alison Godfrey

Date: 18 October 2023 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

11

Citizens Advice Stroud & Cotswold Districts Limited

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

For the year ended 31 March 2023

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
12,403
28,639
Charitable activities
4
234,404
418,285
Other trading activities
-
-
Investments
-
245
Total income
246,807
447,169
Expenditure on:
Raising funds
-
45,242
Charitable activities
226,750
282,245
Total expenditure
5
226,750
327,487
Net income
20,057
119,682
Transfers between funds
15,209
(15,209)
Other recognised gains
-
1,181
Net movement in funds
7
35,266
105,654
Reconciliation of funds:
Total funds brought forward
106,674
439,583
Total funds carried forward
141,940
545,237
Gains on remeasurement of defined benefit
pension scheme		 2023
Total
£
41,042
652,689
-
245
693,976
45,242
508,995
554,237
139,739
-
1,181
140,920
546,257
687,177		 Restated
2022
Total
£
58,928
649,949
399
71
709,347
38,758
553,022
591,780
117,567
-
13,554
131,121
415,136
546,257

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 16 to the accounts.

The 2022 comparatives have been restated as set out in note 21 to the accounts.

12

Citizens Advice Stroud & Cotswold Districts Limited

Balance sheet

As at 31 March 2023

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
14
Net assets
15
Funds
16
Restricted funds
Unrestricted funds
Designated funds
General funds
Total charity funds		 £
70,456
732,173
802,629
(113,540)		 2023
£
166
689,089
689,255
(2,078)
687,177
141,940
380,340
164,897
687,177		 Restated
2022
£
6,477
39,019
573,648
612,667
(69,628)
543,039
549,516
(3,259)
546,257
106,674
282,835
156,748
546,257

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.

13

Citizens Advice Stroud & Cotswold Districts Limited

Balance sheet

As at 31 March 2023

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 17 October 2023 and signed on their behalf by

Claire Feehily - Chair

14

Citizens Advice Stroud & Cotswold Districts Limited

Statement of cash flows

For the year ended 31 March 2023

Cash flows from operating activities:
Net movement in funds
Adjustments for:
Depreciation
Dividends, interest and rents from investments
Loss / (profit) on the sale of fixed assets
(Increase) / decrease 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		 2023
£
140,920
2,536
(245)
3,775
(31,437)
43,912
(1,181)
158,280
245
245
158,525
573,648
732,173		 Restated
2022
£
131,121
7,036
(71)
-
1,150
7,861
(13,554)
133,543
71
71
133,614
440,034
573,648

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

15

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

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 2023

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:

2023 2022
Raising funds 9.9% 7.3%
Charitable activities 90.1% 92.7%

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.

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.

17

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

1. Accounting policies (continued) 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 14). 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.

q) Accounting estimates and key judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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).

18

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

2. Prior period comparatives: statement of financial activities (restated)

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:
Net movement in funds
3.
Income from donations
Donations
Fundraising
Total income from donations
Prior period comparative (restated)
Donations
Fundraising
Total income from donations
Gains on remeasurement of defined benefit pension
scheme		 Restricted
£
£
28,000
30,928
295,907
354,042
-
399
-
71
323,907
385,440
-
38,758
324,624
228,398
324,624
267,156
(717)
118,284
3,122
(3,122)
-
13,554
2,405
128,716
Restricted
£
£
12,403
25,985
-
2,654
12,403
28,639
Restricted
£
£
28,000
30,031
-
897
28,000
30,928
Unrestricted
Unrestricted
Unrestricted		 2022
Total
£
58,928
649,949
399
71
709,347
38,758
553,022
591,780
117,567
-
13,554
131,121
2023
Total
£
38,388
2,654
41,042
2022
Total
£
58,031
897
58,928

19

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

4. Income from charitable activities

Income from charitable activities
Stroud District Council - Core funding
Stroud District Council - Household support fund
Stroud District Council - Housing related debt
Cotswold District Council - Core funding
Cotswold District Council - Household support fund
Household support fund - CDC and SDC
Gloucestershire County Council - Core funding
St James Place Foundation
GCF
Town and Parish Councils
Citizens Advice - Core / Donation / Gambling
Other grants
Julia and Hans Rausing Trust
Smart meters - CitA
EAP
EUSS
Cirencester Foodbank
North Cotswold Foodbank
Stroud Foodbank
Citizens Advice - money advice service
Total income from charitable activities
Gloucestershire County Council - Outreach
Gloucestershire County Council - Thrive Grant		 Restricted
£
£
-
125,000
-
4,583
25,065
-
-
72,520
-
14,750
147,800
-
-
41,668
7,500
-
-
16,666
7,500
-
-
5,000
-
13,225
-
15,500
-
15,450
-
15,000
-
8,194
19,914
-
26,495
-
-
21,577
-
19,335
-
29,817
130
-
234,404
418,285
Unrestricted		 2023
Total
£
125,000
4,583
25,065
72,520
14,750
147,800
41,668
7,500
16,666
7,500
5,000
13,225
15,500
15,450
15,000
8,194
19,914
26,495
21,577
19,335
29,817
130
652,689

20

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

4.
Income from charitable activities (continued)
Prior period comparative (restated)
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
Foodbanks
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
-
-
28,200
14,952
-
-
15,660
5,063
-
4,800
-
-
11,250
-
15,000
5,000
-
36,869
5,500
20,000
-
50,000
-
-
6,000
295,907
354,042
Unrestricted		 2022
Total
£
125,000
70,920
28,235
12,000
25,274
104,756
23,577
41,893
28,200
14,952
15,660
5,063
4,800
11,250
15,000
5,000
42,369
20,000
50,000
6,000
649,949

Government grants

The charitable company receives government grants, defined as funding from local, town and parish Councils to fund charitable activities. The total value of such grants in the period ending 31 March 2023 was £454,026 (2022: £314,789). There are no unfulfilled conditions or contingencies attaching to these grants.

21

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

5. Total expenditure

Total expenditure
£
Staff costs (note 8)
24,586
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
-
Governance costs
-
Depreciation costs
-
Loss on disposal
-
Sub-total
24,586
Allocation of support and governance costs
20,656
Total expenditure
45,242
Total governance costs were £4,832 (2022: £4,537).
Prior period comparative
£
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
Raising
funds
Raising
funds		 £
£
224,460
71,781
76,992
-
10,501
-
1,733
-
3,695
-
-
53,644
-
26,743
-
18,121
-
25,906
3,040
1,892
-
4,832
-
2,536
-
3,775
320,421
209,230
188,574
(209,230)
508,995
-
£
£
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
-
Charitable
activities
Support and
governance
Charitable
activities
Support and
governance		 £
320,827
76,992
10,501
1,733
3,695
53,644
26,743
18,121
25,906
4,932
4,832
2,536
3,775
2023
Total
554,237
-
554,237
£
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

22

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

6. Grants payable

Grants payable to institutions:
Stroud Bereford Group
Total grants payable to institutions
Grants payable to individuals:
Total grants payable		 2023
£
-
-
76,992
76,992		 2022
£
2,100
2,100
83,753
85,853

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 (excluding VAT)		 2023
£
2,536
Nil
Nil
3,150		 2022
£
7,036
Nil
Nil
2,900

8. Staff costs and numbers Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2023
£
284,341
17,581
18,905
320,827		 2022
£
325,564
22,574
16,777
364,915

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

The key management personnel of the charitable company comprise the Trustees, Chief Executive Officer, and Service Managers. The total emoluments paid to key management personnel for the year was £104,699 (2022: £102,878).

23

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

8. Staff costs and numbers (continued)

Average head count 2023
No.
16.9		 2022
No.
19.4

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 2022
Additions in year
Disposals in the year
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Disposals in the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Debtors
Trade debtors
Prepayments
Accrued income		 £
29,352
-
-
29,352
26,857
2,495
-
29,352
-
2,495
Computer
equipment		 £
27,361
-
(24,000)
3,361
23,379
41
(20,225)
3,195
166
3,982
2023
£
46,600
8,222
15,634
70,456
Fixtures and
fittings		 £
56,713
-
(24,000)
Total
32,713
50,236
2,536
(20,225)
32,547
166
6,477
2022
£
4,250
8,307
26,462
39,019

11. Debtors

24

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

12. Creditors : amounts due within 1 year

Trade creditors
Accruals
Deferred income
Other taxation and social security
Other creditors		 2023
£
5,807
6,107
84,419
2,785
14,422
113,540		 Restated
2022
£
1,323
29,799
30,396
5,460
2,650
69,628

13. Deferred income

At 1 April 2022
Deferred during the year
Released during the year
At 31 March 2023		 2023
£
30,396
84,419
(30,396)
84,419		 Restated
2022
£
8,935
30,396
(8,935)
30,396

Deferred income relates to contract income for providing foodbank advisors.

14. 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 2023). 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		 2023
£
3,259
(1,181)
2,078		 2022
£
16,813
(13,554)
3,259

25

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

15. Analysis of net assets between funds
Restricted
funds
£
Tangible fixed assets
-
Current assets
141,940
Current liabilities
-
Provisions
-
Net assets at 31 March 2023
141,940
Restricted
funds
£
Tangible fixed assets
-
Current assets
106,674
Current liabilities
-
Provisions
-
Net assets at 31 March 2022
106,674
Prior period comparative
(restated)		 Designated
funds
£
-
380,340
-
-
380,340
Designated
funds
£
-
282,835
-
-
282,835		 General
funds
£
166
280,349
(113,540)
(2,078)
164,897
General
funds
£
6,477
223,158
(69,628)
(3,259)
156,748		 Total
funds
£
166
802,629
(113,540)
(2,078)
687,177
Total
funds
£
6,477
612,667
(69,628)
(3,259)
546,257

26

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

16. 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
Household support fund
Covid Hardship fund
Total restricted funds
Designated funds:
Stroud IT fund
Stroud advice
Cotswolds advice
Additional expenditure fund
Total designated funds
General funds
Total unrestricted funds
Total funds
European Union settlement
scheme
Big Energy Saving Network /
Big Energy Saving Winter
Unrestricted funds		 (Restated)
At 1 April
2022
£
1,359
55,551
6,531
13,308
13,482
-
4,712
-
10,715
-
1,016
106,674
635
245,082
37,118
-
282,835
156,748
439,583
546,257
 Income
£
25,065
19,903
7,500
-
-
130
-
26,495
19,914
147,800
-
246,807
-
229,709
146,731
-
376,440
70,729
447,169
693,976		 £
(12,517)
(42,931)
(29,295)
(12,336)
-
(1,333)
-
(37,863)
(13,484)
(75,119)
(1,872)
(226,750)
(2,495)
(155,818)
(94,669)
-
(252,982)
(74,505)
(327,487)
(554,237)
Expenditure		 £
£
-
13,907
-
32,523
15,264
-
-
972
(13,482)
-
1,203
-
-
4,712
11,368
-
-
17,145
-
72,681
856
-
15,209
141,940
1,882
22
(106,932)
212,041
(15,264)
73,916
94,361
94,361
(25,953)
380,340
11,925
164,897
(14,028)
545,237
1,181
687,177
Transfers
and other
gains
At 31 March
2023		 £
£
-
13,907
-
32,523
15,264
-
-
972
(13,482)
-
1,203
-
-
4,712
11,368
-
-
17,145
-
72,681
856
-
15,209
141,940
1,882
22
(106,932)
212,041
(15,264)
73,916
94,361
94,361
(25,953)
380,340
11,925
164,897
(14,028)
545,237
1,181
687,177
Transfers
and other
gains
At 31 March
2023
141,940
22
212,041
73,916
94,361
380,340
164,897
545,237
687,177

27

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

16. 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

Mental health debt

To provide funding to improve access to finance related advice for people with mental ill health.

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. This project ended in 22/23.

Energy advice program

Funding to provide one-to-one advice to clients in fuel poverty, or in a fuel poverty risk group.

European Union Funding to provide advice and practical support to vulnerable EU, settlement scheme EEA and Swiss citizens living in Gloucestershire to help them make their EU Settlement Scheme application.

Household support fund

Funds allocated from Cotswold District Council and Stroud District Council from 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.

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.

Additional expenditure fund Funds for additional expenditure relating to staffing and IT equipment agreed at the Board meeting in February 2023.

28

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

16. Movements in funds (continued)

Purpose of transfers between funds

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

The Citizens Advice Help to Claim service provided clients with advice and support in the early stages of a Universal Credit claim up until the first full payment is made. This project ended in 21/22 and the funds were fully spent.

29

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

16. Movements in funds (continued) Prior period comparative (restated)

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
Household support fund
Covid Hardship fund
Total restricted funds
Designated funds:
Stroud IT fund
Stroud advice
Cotswolds advice
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds
Big Energy Saving Network /
Big Energy Saving Winter
Office of the Police and
Crime Commissioner
European Union settlement
scheme		 At 1 April
2021
£
-
34,068
-
43,589
13,781
1,150
4,898
-
-
6,783
-
-
104,269
6,675
160,998
-
167,673
143,194
310,867
415,136
 Income
£
25,274
40,800
24,000
-
28,235
41,893
14,952
51,821
5,000
5,063
36,869
50,000
323,907
-
214,942
136,298
351,240
34,200
385,440
709,347		 £
(23,915)
(19,317)
(17,469)
(30,281)
(28,534)
(44,660)
(15,138)
(53,298)
(5,028)
(1,131)
(36,869)
(48,984)
(324,624)
(6,040)
(128,797)
(98,119)
(232,956)
(34,200)
(267,156)
(591,780)
Expenditure		 £
£
-
1,359
-
55,551
-
6,531
-
13,308
-
13,482
1,617
-
-
4,712
1,477
-
28
-
-
10,715
-
-
-
1,016
3,122
106,674
-
635
(2,061)
245,082
(1,061)
37,118
(3,122)
282,835
13,554
156,748
10,432
439,583
13,554
546,257
Transfers
and other
gains
At 31 March
2022		 £
£
-
1,359
-
55,551
-
6,531
-
13,308
-
13,482
1,617
-
-
4,712
1,477
-
28
-
-
10,715
-
-
-
1,016
3,122
106,674
-
635
(2,061)
245,082
(1,061)
37,118
(3,122)
282,835
13,554
156,748
10,432
439,583
13,554
546,257
Transfers
and other
gains
At 31 March
2022
106,674
635
245,082
37,118
282,835
156,748
439,583
546,257

30

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

17. 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		 2023
£
23,409
15,197
38,606		 2022
£
27,959
35,740
63,699

18. Conduit funding

Conduit funding
Balance at start of year
Funding received during year
Funding distributed during year
Balance at end of year		 2023
£
2,612
12,409
(1,478)
13,543		 2022
£
1,795
6,526
(5,709)
2,612

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).

19. 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 £17,430. This figure has an effective date of 30 September 2022. In the prior year the contingent liability was estimated to be £31,902 (effective 30 September 2021). The charity currently has no intention of withdrawing from the scheme.

20. Related party transactions

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

31

Citizens Advice Stroud & Cotswold Districts Limited

Notes to the financial statements

For the year ended 31 March 2023

21. Prior period restatement

The comparative financial statements have been restated due to misclassifying unrestricted contract income as restricted grant income. The effects of the restatement are set out below:

Deferred income
Deferred income per original accounts at 31 March 2022
Additional contract income to defer
Restated deferred income as at 31 March 2022
Income
Income per original accounts at 31 March 2022
Deferred income adjustments
Restated income at 31 March 2022
Funds brought forward
Funds per original accounts at 1 April 2021
Reclassification between funds
Restated funds at 1 April 2021		 Restricted Unrestricted
£
£
379,568
351,240
(55,661)
34,200
323,907
385,440
Restricted Unrestricted
£
£
113,204
310,867
(8,935)
-
104,269
310,867		 2022
£
-
30,396
30,396
Total 2022
£
730,808
(21,461)
709,347
Total 2021
£
424,071
(8,935)
415,136

32