Company no. 4389411 Charrty no. 1096398 Citizens Advice Stroud & Cotswold Districts Limited Report and Unaudited Financial Statements 31 March 2024 Itlz•ns Advlco Str￿d & Cotswold Dlstrl¢ts Llmltod Cont•nt• For The Y••r Ended 31 March 2024 Pag9 Rolwonc• and Admlnl•tratlve D•tall8 Report of the Trusteeg 2-11 Indo￿lM￿nt Auditors. Rwort 12 Statomqnt of Flnanclal Actlvlllos 13 Bat4nc• Sho•t 14-15 stst•m•nt of Cashfflows 16 Notm to th• Flnanclal Stat•m•nts 17-32 Cklzons Advlco Stroud & Cotswold Dlstrfcts Umlted Ref•r•nce and admlnl¥tratlve dgts118 For tho ear ended 31 March 2024 Company number 4389411 Charlty number 10g6398 Regl8tfrred offlcg and Unit 8 1st Fbor oporatlonal addr088 Brunel Mall London Roa Stroud Gloucestershire GL5 2BP TTUSteg• Trustees. who are also dire¢lors under company law, who served during the year and up to the date of this rew)rt were as follthvs.. Marttn Cook from 6 October 2021 Ciaire Feehity resigned 1 January 2024 E0￿ard Fitter from 17 October 2023 10 28 June 21y24 John Hammond from 5 June 2019 JUl￿t Kilty from 5 October 2017 Andrew Lindsay from 17 October 2023 Bary O'Driscoll from 6 O¢toter 2021 Rachel Penney from 17 Octo￿1 2023 to 25 March 2024 Beatrix Pilel resigned 17 October 2023 Matyn Pite resigned 13 May 2024 Christopher William Underhill from 17 O¢lober 2023 Jane Whaley from 6 October 2021 Paul Blacker from 25 Juty 2024 lan 8u&vell from 25 Juty 2024 Chhf executfvfr offlcer Elizabeth Hall and Company se¢rntary Bankors Unrty Trust 8ank PO Box 7193 Planetary Road Willenhall WV19DG Natwest Bank Bui5dings, George Stroet Slroud Gloucester GL5 3DT Scottish Widows Bank PO Box 883 Leeds LS19TY Independonl •xaminers Burnside Chartered a￿Ountants and statutory auditors 61 Queen Square Bristol 8S14JZ Cltkens Advl¢e Stroud & Cotswold Dlstrl¢ts Llmitod RoPQrt of the trustws For the ear ended 31 March 2024 Reference and administrative informalion sel out on page 1 form5 part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of A5sociakn'on and the Statement of Recommended PraclKe- Accounting and Reporting by char￿￿9 (effective from January 20191. stru¢tUrns govomanco and managemgnt Governing document The organisalion is a registered charity. It became incorporated on 7 March 2002 as a company limited by guarantee with charitable slalus and is govemed by its Memorandum and Articles of Association. The name of the organisation was changed, on 13th September 2016, to Citizens Adv stroud & Cotswold Dlstri¢ts Limited and the Articles of Association were am&nded accordingly. The Articles ot Association were further arnended on 21 December 2020 to pemirt and regulate rernote meetings. and on 17 October 2023, to change the limit on Ihe term of office of Ghair, vic&¢hair and treasurer to nlne consecutive years. Th15 change provKled greater flexlblllty In managing succession of those key roles. Recruitment and appointment ol Trusts8s Trustees are primarlly recrulted from the community Se￿ed by the charlty. wlth particular individua15 and groups targeted depending on the skills and knowledge gaps idenlffied. Interested individuals are required to submtt a statement of their experience and quallfications and go through a selection process and are then formally elected by the charlvs membership at the annual general meeting. Addidonal Trustees may be crN)led by the Board of Trustees during the year. Four new trustees were electod at the Annual General Ileeling in O¢tobef 2023. Claire Feehity resi9ned on 1 January 2024. Claire be¢am8 a Trustee in January 2017 and was appoinle¢J Chair in January 2022. We are grateful to Claire for her significant conlribution and in particular her leadership during some challenging times for the organi3atiDn. Jull&t IQ.￿Y was appointed ChaiT on an interim basis to rep*e Claire and she was replaced as treasurer by William Underhill. On 1 May 2024, Juliet was replaced as Chair by John Hammond. again on an interim basis. On 30 Septsmber 2024, William Underhill was appointed Chair and Juliet Kity resumed her Tole as treasurer. The Board is conscious that rep8ale& governance changes of Ihis kind are undesirable and is a¢b'vety developing successlon plans whth Should allow a smoother trdnsition in fvture. when changes become necessary. Unfortunalety. one of the new trustees appointed in October resigned in Mar¢h 2024 for personal and work relat￿ reasons, Since then. hvo trustees have resigned due to work and personal commitments. We are gratsful lo Edward Fftter, Rachel Penney and Martyn Price for their contributions. Two new trustees have been appointed in July 2024. Trustee inducfvon and training There are Induction pr￿dureS lor new Twslees lo make them aware of their role and training is offered throughout their term of office. Citizens Advice Stroud & Cotswold DistActs Limlted Report of the trust908 For the ear ended 31 March 2024 Trustees must undertake mandatory training on data protection (UK GDPRI and also the Senior Managers and Certification Regime {SMCRI which is learning required to meet Financial Conduct Authority Rules. In addition the CA-SCD Board have agreed to undertake all the Citizens Advice online training courses recommended by national Citizens Advice. This includes training on safeguarding,. heallh and safety,. cyber security.. equity, diversity and inclusion and financial govemance. Compliance with mandalory and recommended training is undertaken by the Training and Development Officer and the CEO and is also Monitored by the HR Sub Group. Tru5tee5 are encouraged to attend appropriate external training events where these will facililale the understanding of their role. Organisat￿nal structure Citizens Advice Slroud & Cotswold Dislricls 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 representslive who is invited lo 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 Artides of Association provide for a minimum of three and a maximum of enty-one Trustees. The Board of Trustees goverrls the charity and defines overall policy and future strategy. 11 also monitors performance. risk and the quality of service. The Board is ultimately responsible for the financial control of the organisalion and for financial reporting lo its members and other5. All Trustees have a responsibility to safeguard the resources of the organisation. and lo use them in an economical and effecknve way furthering the work of the charity. The Twslee Board meets every 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-comrnittee which meet regularty throughout the year. These sub-committee5 discuss and work on issues in more detail and make recommendations to the Board. In general decisions are taken by the full Board but the Board may from lime lo time delegate authority to a sub-committee to make a decision on a specific issue. In addition, from timÈ to time the Board may establish ad hoc subrt of the tr￿1￿8 For the •ar &nded 31 March 2024 EnsuiFng our work delivers our aims The business plan for 2024-27seek$ to tsilor the four strategic themes of the Natbonal Citizeng Advice Living Strategy. namely advice. advocacy. inclusive access and organisa*onal health to fit the needs of the ￿ Distrlcts we serve. How our aclivities dellv8rpublic b8nefft Our maln &tivitie8 and who w? ty to help are described below. All our charitsble actiwties focus on Fxoviding the advice people need for the prob￿rnS they face arKI by doing Ihis we PTovide publi benefit. The Board of Trustees has had due regard to Ihe Charity Commission guidance on public benefit and have Compl￿ with the duty in section 4 of the Charities Act 2011. A¢htovomgnt8 and porfomwnc• Advre and Informat￿n SeThices Our main areas of charitable activity are.. the provision of general adwce and information servKes the provision of specialist advice and ca5ewDrk seThryGes in the debt and welfare benefits categories of $￿tal WeMa￿ taw During 2023-24, we offered advice and infomiation in the follovang ways.. Telephone- we continued lo offer our freephone telephone helplines. The lines were covered on a rota basis befv4een the hours of 10am and 4pm on Mondays and Tuesdays and from 1 Oarn to 12.30pm on Wednesdays and Thursdays. Our call handlers assess the situation and take the appropriate actiors - this may be a bc*)ked tslephone ring back, a la￿ to face appointrngnt or signposting to a natlonal Citizens asfvice helpline or another organisalion. At our first contact wth cllents, a full exploration of their slluauon is undertaken. Where possible we aim lo resolve thw'r issues al this first contacL If this is not possible. Cllenls ale contacted again or given an appolntrnent, as appropriate. Clients who needed debt or benefit ￿SeWOrk services have been dealt with via tekphone and email advice as well as face to face in our main offices and ouiTea¢h venues. Email advice- dients Could ask lor Pmail adv￿* via our website. Face to face - we have prioritised lace lo face appointments for ¢lients who cannot access telephone or emall advice due lo one or more of the follo￿￿9.. A lack of lelephone or email access including mobile ￿One reception and capability . A vulnerablllty that made remote advlo dtffKult', The client's case was so Complex that telephone advice would lead to a sbwer resdubon of the case or a potentsal negatNe impact on the outcome for ¢lient', and The client need&J lo be se6n face lo fxe for an adwser to assess ¢ap8bility or give full advice. Clients who drop into an office or outreach are trfaged and the appropriate way forward ascertained and arranged. citlzon9 Advlco Stroud & Cotswold DlstTlcts Llmlted Report of th• truste Fortho ear Ond￿ 31 March 2024 In addition to general advice, Ihe following specialist servKes were prowded in 2023-24.. Specialist debt and financial capability advi¢8 funded by St James's Place and the Multipty project in partnershlp ￿ North and West GFouc8Stershire Citizens Advice. We wwe funded for homelessness prevenllon money •Jwce for Stroud resKlenls by Stroud District Council-, Spe¢kilist wellare benefits advice was fvnded through a ThrNing Communiti'e8 Grant from the County Council, funding from St James's Pkace and a generous donatbn Irom an anonymous donor. Specialist advice on the EU Setlement Scheme vras funded ty the Home Offlce through a partnership vrith Gloucestershire County Counul, North and West Gloucestershire Citizens Advice and GARAS., Energy advice Iwe had three sFecialist energy advisers during this year) was funded by Nalonal Cth'zens Afvice gnergy proj'ect5 and a Smart Meter GB project North ond West Gloucestershire Citizens Advlce., We had 3 dedicated foodbank advisers who gave generalist 8AvKe to clr4nts referred by the Stroud, North Cotswold and Cirencesler Foodbanks. In March 2024, a dedicated Foodbank specialist debt casew)rker joined the team- this caseworker takes referrals from the Ciren¢e$ter and North Cotswold foodbank advisers for dients who need spo¢ialist debt advKe. These advtsers were funded by the Foodbanks themse￿85. Whilst we endeavour to resol¥e a cllenvs issue as qu￿ty as posslble, we do r)ol lirnit clients lo a set number of appointments or lo a limited timescale that they rAn acce55 our help. Some clients will need appointsnents over several weeks or months with multiple specialists wilhln the organisation. For example, a client with debt issues may need not On￿ debt advic8, but specialist beneflls advice and supp)rt to maximise their income and ensure that their income will be sufficient to avoKI fvrther debt issues in the future, and sperAalist energy advice to help them raduce their living ¢osts. Whi15t we aim lo ernpjwer clients to resolve their problems using the advice we gNe. many of our dlents need addillonal support in ordw to achieve a solution. Thls may be due tr) the vulnerabillty of the client, the complexity of the problems or a combination of the ts¥o. Advocating for clEnts is a key part of ithat VK do - on an indivldual bas￿ and through our k¢al and national research and campaigns work. IndivKlual clients often need us to advocate for them - for ￿aMple by contacbng third parties by telephone and in writing to resolve debt problems; by drafting subm15sions for benefits appeals and speaking to the councils and DWP about benefrt claims; by conta¢tirwJ organisations to make fomial omplainls.. conta¢¥ng energy suppliers to resolve problems etc. The infomiation that we gather is also used in our research and Campaigns work - bolh bcalty and feeds into Ihe national Citizens Advu data. This infomialion Is then used to raise awareness and campaign on bcal and national issues - for example, our joint work on housing in GIoLtcestershire th North and West Gloucestershire Citizens A(Mce and the monthly cost of lfving data insights brlefing delivered by natSonal Citttens Advice. C5tlzans Advlcg Stroud & Cotswold D18trl¢ts Llmltod Rwirt of tho tru8teo8 For tho •ar •nd•d 31 March 2024 Confrribulion of voluntee￿ and pa￿ Staff Our success could not have been achleved wrthout the hard work and dedication of volunteers and staff. The Tru*ee Board and senior leadership team re¢ognise the tremendous contribution made by our volunteers In advising the public and administertng the seNice. WQhout this amaing effort, gwen freely for no financial reYdrd, the service coukl not operaie. Throughout 2023r24 Ihe service employed 20 paid workers and 71 volunteers {including fundraisers) together delivering kyojects in addition to the core servke. The recrurtrnenl and retention of paid slaff during 2023-24 continued to be challenging. The recruitment of a(tvice session supervisor5, a key role in the organlsation, is a particularly niche role and therefore a difficu￿ role to find experienced ¢andidales IL￿ally. Thè Trustee Board agTeed during 2023 to use reserves to fun¢J trainee adviserlsupervisor roles for a year period. This has been successfijl - the first trainee adviser has now started the supeNsor training. Reserves have also been althated to fund a paid call handler for months to Increase pacity on the hdpllnes. Our Learning and De¥elopment Officer left in January 2024 to pursue a new role a local Goun¢il. This is a key role as we are prioritising the recrullment and trainin9 of volunteer advisers in order lo meet the increased demand for our services and lo replace the volunteers who left in the Lgst four years. 11 ha5 taken some time lo find the right candidate for this position and a new Tralning and Development Officer started work in JU￿ 2024. We are very grateful to everyone for their commitment to our dients and the running of our seryice. Who used and benefited from ourservices? During the reporlng year {2022-23 figures in brackets) the organisation.. Advised 4,084 14,4511 clients across 23.666 120,9661 issues. Of these, Cftizens Adv1￿ Stroud and Cotswold Districts thised 3,368 {3,6321 clients wlh 16.330113.7711 issues. The remaining clients were hdped through National Citizens A(Ivice helplines s￿h as the Help to Claim (Universal Credit) helpline, the Help through Hardship helpline IwhKh distributes Tru5sell TTUSt f¢x•J bank vouchers and infomation) and the Consumer helpline.. The number of issues rises each year and may be indicative ot more complex prc4)lems being dealt with. This is representstNe of the expertenc8 of our adwsers who manage a high numter of omplex cases, which cannot re￿Ived through our advice alone,. crty￿nS Advice Stroud and Cotswold Districts generated a total of £1,399,238 (£831,663) In additional income for dients, primarity throu9h tax ¢redits, benefiis or salarK85. welfa￿ benefits and tsx credits made up a total of 33%131°hl of the issues we have supported on., Cillzens Advice Slroud and Cotswokj Distrlcts helped 6621543) households Yath debt advice Ma￿'n9 Feople's lives more sustainable.. . £461.203 1£425,4671 of debt was written off by Citizens AdvKe Stroud and Cotswokl DIstr￿tS negob'atirvJ with ¢redltors, obtalnlng Debt Relief Orders and gNing advice on bud9eling and £3.004 {£8,562) worth of repayments were Tescheduled,. We delivered the Household Support Fund for both Cotswold District Coundl and Stroud Distrfct Council - distributr.ng finanGial support vlth energy. wider essenlials and supermarket vouchers for support with the cost of food; Advised 515 (5361 client5 on houslng Issues, including problems wEth di8repair'. Helped 40414421 families with rektsonship issues including dfvorce. separation and contact with chiklren,. Assfsted 381 {3841 househokls vitth uti1it18s and ¢ommunt¢ations issues, including energy issues: Cltlzen8 Advlce Stroud & Cotswold Dlstrlcts Llmlted Roport of th? tru8tO05 For tho oar eDded 31 March 2024 Advlsed 232 13101 clients on employment issues. includlng Issues relating to disputes. dundancy and dismissal," and Was a partner agency with Gloucestershire County Council, North and Wesl GIoU￿9terShlre C￿en$ Advice and GARAS delivering adv￿8 to clients who needed lo appty to Ehe EU Settlement Scheme. Our staff and volunteers assisted a ￿￿e range of dients.. . 81 % of clients reported that they We￿ disabled or h8d a bng te￿ heatth condition. (53% in 2022- 23) . We helped clients across a wde age range- with clienls in all age categories from 15-19 10 100- 104 (unchanged from 2022-231. Factors affec&ng rhe achiev8ment ofobiectiV8S The year ending 31 Mar¢h 2024 vras another challenging year for Citizens Advtce SIToud & Cotswold District as the cost of Imng crisis continued. Desprte the consklerable efforts of our stsff and volunteers, our resources were not sufficient to meet the Increased demand for our seNce$ which resulted from the ¢n$is. We are se8ing rr￿ and m¢xe clients wth very Complex issues andlor a much higher number of Yoblems at first presentation, which take longer to resolve. Flnan¢lal r•vl•w The Twstees have continued to focu9 on delyvering a cost-effectlve semce that meets the needs of our cl¢enls. The Charity was fortunate io receive funding above that expected from a numter of sources in 2022-23 resultÈng in a surplus for that year. The resefves of the Charity have grown in recent years with addtuonal fijndlng and unexpected salary sawngs due to vacant posts. The trustees have reviewe I decreas8 in dèbtor5 Increase I Idecreasel in creditots InGrease l (decrease) in provi￿On5 20,732 140,920 33 {956) 2,536 1245) 3,775 (10,7001 131,4371 {61,9431 43.912 1,181 Net cash provlded by l qu￿d In) operatlng a¢tlvitie¥ 53,941 158,280 Cash Ikms from Invosting actlvttles: Dividend5, Interest and rents from Investments 956 245 Net cash provld•d by i (usod Inl Inv•8llng acllvftle8 956 245 In¢rea8e l (d•crnas0) In cash and ¢ash equlvalents In th• yoar 162,985) 158,525 Cash and cash eqU￿ak8nts at the beginning of the year 732 173 573.648 Cash and cash equlvalent8 at the end of thg year 679.188 732,173 The Charity has not provided an ana￿1$ of changes in net debt as il dces not hav8 any long lemi financing arrangements. 16 Cl¢lz•n8 Advlcg Slroud & Cotswold D15trfcts Llmlted Note¥ to Iho flnan¢lal statements For tho ar onded 31 March 2024 Accountlng policies al Bas1¥ of preparatlon The financial statements have been prepared In accordan￿ with Accounting and Reporting by Charities.. Statement of Recommended Pra¢tice applicable lo charities in preparing their ac¢ount5 in accordance wllh the Financial Reporting Standard appll¢able in the UK and Republic of Ireland IFRS 102) (offedve l January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republk of Ireland (FRS 1021 and the Companyas t20C6. Cilriens Advice Stroud & Cotswohj Districts Limited meets the definrtion of a public benefit entity under FRS 102. Assets and 5iabililies are initially rewgnised al hlstorical cost or Iransaction value unless othervise slated in the relevant accounting policy note. b) Golng con¢orn ba51s of accounllng The accounts have been prepared on the a$$umptwJn that the charity is able to continue as a going concem. The charity has been able to increase Its reserves over recent year5 and we recently Changed our reseNes Foly to aim lo hold enough reserves lo cover expected shortfalls for the next 3 years. This leaves us in the fortunate position lo have additional funds that we are aiming to spend this year to improve our services. On this basis the Trustees conshder that the charity will continue as a going concern for a perK)d of at least 12 months from the date on which these financial statements are appr¢)ved. cl Incom• Income is recognised ￿￿en the Charity has entitlement to the funds. arty performance conditions attached to the item of income have been met, rf( is probabb that the income will be received and the amount can be measured reliabty. Income from the gov8rnmenl and other grants. whet￿r 'capitsl' grants or 'revenue' granis. is recognised when the charity has entiuement ta the funds, any perf0rrnan￿ Condit￿n3 attached lo the grants have been mel, it15 probable that the income will be r￿01¥ed and the amount e measured rel￿blY and is not deferred. For legacies, enlillemenl is taken os the eadier of tho dats on which either the ¢harity is awaie that probate has been granted. the estste has been fi'nalised and nolfioalion has been made by the executor(sl lo the Trust that a distribution will be made, or when a distribution is recerved from the estate. Receipt of a legacy, in wttole or In part, is only considered probable when the amount can be measured reliably and the ¢harity has been noufied of the exe¢ulorfs intention lo make a distribution. Where legacies have been notified lo the charity. or the charity is aware of the grankn'ng of probate, and the criteria for inc0rn8 recognition have not been mel, then the legacy Is treated as a ￿ntingent asset and disdosed rf malerial. dl Intern81 Tgcelvablo Interest on funds held on deposit is included when re¢eNabFe and the amount Can be measured reliably by the charlty: this is normalty UFM)n nOtiffira￿n of the interest P8ld or payable by the bank. 17 Chlzgns AdvlGO Stroud & Cotswald Dl8trfcts Llmftod Nots¥ to the Ilnanclal staternonts Forthe •ar •ndgd 31 PAareh 2024 Accountlng pollcios Icontlnued ol Funds accountlng Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Deglgnaled lunds are unrestricted fiJnds of the charity which the TTUStee5 have decided at Ihoir discretion to set aside to use for a specific purtose. Restricted funds are donations which the donor has specified are lo be xilely useé for particular areas of the ¢harty's work or for Speci￿ projects beln9 undertaken by the charity. fj Exp•ndlturn and Irrocov•rablo VAT Expenditure is recognised once there is a legal or constructive oblvJation to make a payment to a thtrd paty, it is probable that Setuemenl will be required and the amount of the obllgatson can be measured reliably. Irrecoverable VAT is charged a5 a cost against ihe acknvity for which the expendllure wa5 incurred. g) AItOGOtlon of 8UPPOrt and gov•rnanc• costs Support Costs are thos8 functions that a$slsl the th of the chartty but do not dlreclty undertake charilabb activities. G0Veman￿ costs are the costs asscciated with the govemance arrangements of the charity, including the costs of comptylng with conslltutional and stalutory requirements and any costs asso¢ialed with the Strateg￿ management of the charity's activilw. These costs have been allocated between cost of raising fvnds and expenditure on charitable activities on the following basis, which is an estimate of stsff time.. 2024 8.0% 2023 9.9% 90.1% Raisin9 funds Charitable activities h) Tanglblo fixed assets Depreciath'on is provided at rates calculated to write down the c08t of each asset to its estr'mated residual value over its experted u$8fv1 life. The depftclallon rates in use are as follows.. Computer equipment Fixtures and fittings 3 years straight line 20% reducing balance Items of equlpment are capitalised where the purchase pri¢e exceeds £1,000. 11 Dobtorn Trade and other debtors are recojnised at the setwement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Jl Cash at bank and In hand Cash at bank and cash in hand in¢ludes cash and short term highly liquid investments a short malurty ol three months or less from the dale of acquisibon or openlng of the deposlt or ¥irnilar accounL k) Credltors Creditors and provislons are recognised where the charty has a p￿sent obligation resulting from a past event that will probably resutt in the transfer of funds to a Ihird party and the amount du? to settle the obllgation can be measured or estirnaled reliabty. Creditors and provisions are normalty recognised at their setuemenl amount after albwing for any trade discounls due. 18 CltlzeTh9 Advice Slroud & Colswold Di8trfctJ Llmitfjd Not05 to th• flnancl•l statsments For the oar endod 31 March 2024 Accountlng pollcle8 (contlnu•d) 11 Financlal Instruments The charitsble company only has financlal ass8ts and finanrAal liabilits'es of a kind that qualify as basK financial instruments. Baslc financlal instruments are initially recognised at Iransaclron value and subsequenlly measured al their settlement value wth the exception of bank loans wttich are subsequenty recognised at amortised c¢yJt uslng the effective interest method. ml Condult fundlng Conduit funds are monies received for third parties and do not belong to the charity. The incoming funds and outgoing paym8nts are excluded from the Slalement ol Financial klNib'es. Any Conduit lunds in hand at the year end are Shown as creditors in the accounts. n) Penslon costs Id•flned contrlbutionl The charitable ¢ompany opèrates a defined contribution p8nsion scheme. The assets of the scheme are held 5eparalety from those of the ¢haritable company in an independendy administered fiJnd. The penslon cost charge represents conlribulion$ payable under the schem6 by the charltable company to the fijnd. The charitable company has no liability undei the scheme other than for the payment of those contributions. ol P¢n$ion ¢osts Idofined ￿nefft) The eharitstrAe company participates in a muili-employer defined bonefft pensh)n scheme. It is not pjssible for the charitable company lo obtain sufficient infomialion to enable it to account for the scheme as a deffned benefit scheme. The scheme is therefore accounted for as a defined conlribulKsn scheme. A provlsion ￿ recognised in these accounts for the net present value of future contn'bulions payable under the scheme (see note 141. The valuatron is determined with reference to the charity's pension provider, TPT Retirement Solutions. pl Flnan¢e and operatlngloases Rents15 payable under operating leases are charged lo the SOFA over the period in whi¢h the cost is incurred. The chanty has no finanGe leases. q) A¢¢ountlng 08tlm•tos and koy ludgoment• In the application of the charitys acwunling poliaes, the Tnjstees are Tequired to make judgements, estimates and assumptions abc¥Jt the carrying values of assets and liabilitEs that are not readily apparent from other sources. The estimates and undertying ?ssumption8 are based on historical experienck and other factors that are considered to be relevant. Actual results may differ from these es)males. The estimates and Under￿ng a$$umptions are reviewed On an ongoing basis. Revisions io accounting estimates are recognised in the pe￿d in which the estimate is revised if the revision affects only that period, or in the period of the revision and fvlure periods rf the revision affec15 both current and future periojs. The key sources of eslimalion uncertainty that have a slgnificant effect on the amunts recognised in the financial statements are depwats.on as described in note 1 Ihl and the pension provigion as per note 110). 19 Cltlzens Advlce Stroud & Cotswold Dlstrlcts Llmlted Notes to the flnanclal statements For the ear 8nded 31 March 2024 Prfor perlod ￿mParatIVeS. Statofflont of flnancial actlvltleg 2023 Total Restricted Unrestricted Incorne Irom: Donats'ons and legacies Charitable activities Other Iradlng act￿lI1e$ Investments 12,403 234,404 28,639 418,285 41.042 652,689 245 245 Total Income 246,807 447,169 693,976 Expenditurq on: Raising funds Charitable activities 45,242 282.245 45.242 508,995 226,750 Total gxpendlture 228,750 327,487 554,237 Not income l (oxpendilur•l 20,057 119,882 139,739 Transfers betsveen funds 15.209 115,209) Other r•cognt8ed galns: Gains on remeasurement of defined benefit pension scheme 1,181 Not movement in fund8 35,266 105,654 140,920 Incom• from donatlons 2024 Total ReStr￿ted Unreslricled Donations Fundraising 22,000 37.553 39,5S3 Total Incomo from donatlo 22,1)00 38,147 Prlor porfod comparallyo 2023 Total Reslricled Unrestricted tklnalions Fundraising 12,403 25,985 2,654 38,388 2,654 Total Incorne from donatlons 12,403 28,839 41,042 20 citlzens Advlce Stroud & Cotswold Dlstricts Llmltod Notes to tho flnanclal ststoThnts For tho ear gnded 31 March 2024 Income Irom charltable aGtlvftl08 2024 Total Restricted Unrestri¢ted Stroud District Council- Core funding Stroud Dislrlcl Council - Househokl SUPFQrt fund Stroud District Council - Housing related debt Cotswold Distncl Council- Core funding Cotswold District Council- Household support fund Glos County Coun¢il- Thrrving Communities Grant Glos County Council- Core funding North & Wesl Glos Citizens Advice- Multipty st James Place Foundation Town and Pa￿Sh Councils Other grants Smart meters 125,000 38,200 25,091 125,000 40,000 25,091 70,920 150,800 7,500 70,450 32,350 4,000 19,598 12.835 10,088 6,085 1,800 70,920 12,000 138,800 70,45Q 32.350 4,000 19.598 12,710 10.088 125 EAP EUSS 6.085 Cirencesler Foodbank North Cotswold Foodbank Stroud Foodbank 44,689 51,388 20,944 44,689 51.386 20.944 Total Income from charltable actlvltlqs 496,114 197,566 21 Cltlzgn8 Advlce Stroud & Cotswold Dlstrlets Llmlted Notss to the Ilnanclal 8tstemonts For the ar •ndgd 31 March 2024 Income from charltablè actlvttles leontlnued) Prlor perlod comparatlve 2023 Total RestrKtsd Unrestricted Stroud District Counal - Core funding stroud District Coun¢il - Household support fund Strolrd District Council- Housing related debt Cotswold Distncl Council - Cole funding Cotswold District Council - Household support fund Household support frjnd - CDC and SDC Gloucestershire County Council - Core funding Gloucestershire County Counal - Thrfve Grant Gloucestershire County Council - Outreach St James Place Foundation GCF Town and Parlsh Councils Citszens Advice- Core l Donatton l Gamblin9 Other grants Julia and Hans Rausing Trust Smart meters- CitA EAP EUSS Cirencester FocKlbank North Colswokl Foodbank Stroud Foodbank Citizens Advice - money advi¢e service Total Incom• from charltabl8 artivities 125,CN)O 4.583 125,000 4.583 25,065 72.520 14.750 147.800 41.868 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 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 Government grants The charitable company receives 9ovemmenl grants, defined as funding from thal, town and parish Councils lo fund chantable ath"vities. The total value of such grants in the period ending 31 March 2024 was £431,409 (2023.. £454,026). There are no unfumlled conditions or conts'ngencies attaching to these grants. 22 Cltlzons Advlco Stroud & Cotaw¢ld Distrfcts Llmlt•d Notes to the flnan¢lal slatomonts For tho gar ended 31 Ma￿h 2024 5. Total •xpenditLrre Raislng Charrtable Support and ftjnds activities governan¢e 2024 Total Staff costs {nole 8) Grants paKI {note 61 Staff and volunteer expenses Staff and volunteer training Staff recruilmenl expenses Premises costs Communications & IT GeneTal office Finan¢e costs Consultancy costs Govemance costs Depreciab'on Costs Loss on disposal 27.180 312,002 141.274 19,890 2.022 85,762 424.924 141,274 19,890 2,022 64,620 35,836 17.059 18.086 64.620 35,836 17,059 18,086 4407 7,007 4,407 7,007 33 sul￿total 27.16Q 479,595 228,403 735.158 AIIc42tion of support and governan￿ Costs Total 0x￿ndfturfj 18,290 210,113 228.403 45 0 689,708 735,158 T¢knl governance costs were £7,007 (2023.. £4.8321. Prlor perlod comparatlve Raising Chantsble Support and funds activitses goveman 2023 Total staff costs (note 81 Grants pald (note 6) Staft and volunteer expenses Staff and volunteer training Stsff recruitment expenses Premlses costs Communications & IT General office Finance costs Consultancy costs Governance costs Depreciatron costs Loss on dlsposal 24.586 224,460 76,992 10.501 1,733 3,695 71,781 320,827 76,992 10,501 1,733 3,69S 53,644 26,743 18.121 25,9Q6 1,892 4,832 2,536 3,775 26,743 18.121 25,906 4,932 4.832 2,536 3,775 3,040 Sub4otal 24,586 320,421 209.230 554,237 Allocatlon of SL6PPOrt and governance costs Total expondtture 20.656 188.574 209,230 45.242 508,995 554.237 23 citlzens Advice Stroud & Cotswold Dl8trf¢ts Llmlted Notes to th¢ flnancial statsments For tho oar endfjd 31 MaFeh 2024 6. Grants payable 2014 2023 Grants payable lo Institutions.. North & West Gloucesler5hire Citlzens Advice 3,41X) Total grants payable lo instiluknns Grants payable to indivKluals: 137,874 76,992 Totsl grants payable 141274 76,992 All grants are paid to fun¢J charitable actNities. The grants shthvn above do not indude any contribution to core ¢osts. 7. Net movomont In funds This is stated after charging." 2034 2023 DeP￿clatiOn Trustees, remuneration Twslees. reimbursed expenses Independent examiner5, remuneratTon'. Independent 8xamlnatton lexcluding VATI 33 Nll Nll 2,536 8. Staft ¢08ts and nUm￿r8 Stsff costs were as follows.. 2024 2023 Salaries and wages Sttial security costs Penslon costs 379.on 22,493 23.354 284,341 17,581 424,924 320,827 No employee eamed more than £60,000 during the year. The key management personnel of the charitabfe company comprise the Truste85, Chief Executive Officer. and Service Managers. The total emoluments paid to key management Fersonnel for the year was £97.$4812023". £95.9961. 24 Cftlzens Advlc? Stroud & Cotswold DiBtrlcts Llmlted Not￿ to the Ilnanclal Statements For the oar ended 31 Mar¢h 2024 8. Staff costs and numbera {continufjd) 2024 No. 2023 Average head count 19.8 16.9 9. T•xaUon The charity is exempt from corpjration lax as all its income 1$ charttab￿ and is applied tr)r haritabie purF#)ses. 10. Tanglble Ilxed assets Computer F￿l￿re$ and equipment fittlngs Total Cost At 1 April 2023 Additions in year Di8posal3 in the year 29,352 3.361 32,713 At 31 March 2024 3,361 preclatlon At 1 April 2023 Charge for the year Disposals in the year 29,352 3.195 33 32A47 33 At 31 March 2024 29,352 3,228 32.580 Not book value At 31 March 2024 133 133 At 31 Ma￿h 2023 166 11. Debtorn 2024 2023 Trade debtors Prepaym8nls Accrued income 70,023 4,43S 46,600 8.222 15,634 81,156 70,456 25 cItIzeTr8 Adv1￿ Stroud & Cotswold Dlstrlcts Llmlted Not￿ to tho flnancial statements Fortho ?ar •ndgd 31 March 2024 12. Credltor¥ . amounts due wtthln 1 y•ar 2024 2023 Tradè credilots Accruals Deferred Income Other taxatlon and social security Other creditors 6,113 28,166 5,807 6,107 84,419 2,785 14,422 17.318 113,540 13. D•ferr•d Incom• 2024 2023 Al l Ap￿1 2023 Deferred during the year Reteased during the year 84,419 30.396 84,419 30.396 84,419 At 31 March 2024 84,419 14. P•n91on provislon The charitable company partlcipales in a muhk&mpkJyer deflned benefft pènsion scheme. Provision has been made for the net present value of fijture contribution$ payable by the charity. The provislon is valued based on information provided by TPT Relifement Solution$ Idaled 31 March 2024)- The latest fvll actuarial valuatr'on of the scheme was dated 30 September 2020 and required participating employers to pay addition￿ contributions to the scheme. The movement on the provi8ion 1$ recognised on the SOFA as an other recognlsed Igaln} I Ios8. 2024 2Q23 Provision at the start of the year Movement in the year 2,078 3,259 1,181 Provision at the end of the year 971 2.078 26 Cltlzens Advice Stroud & Cot6wold Dlstrlcts Llmltqd Notes to the flnanclal statem•nts For the oar ended 31 March 2024 15. Anatysi8 of net 8859ts botw•en funds Restncled Designated fvnds ftjnds General funds Total lunds Tangible flxed assets CuTrent assets Current liabilities Pro¥istron8 133 542,535 151,597) 971 133 760.344 151,597) 971 154,934 82,875 Ngt assots at 31 Mar¢h 2024 154.934 490,11JO 707,909 Prlor pfrrlod coM￿latIVe Imtatedl Restricted Designat& funds funds General funds Total funds Tanglble fixed assets Current assets Current liabilities Provisions 141,940 380.340 280,349 1113.5401 3,259 802.629 (113,540) 2,078 Net assets at 31 PAar¢h 2023 141,940 380.340 163.716 687.177 27 Citlzeng Adv1¢• Stroud & Cotswold Dlstrfcts Llmllod Not88 to the financi41 Statements Forthe ear endgd 31 March 2024 16. Movemonts In funds Transfers and other At 31 MarGh gains 2024 At 1 April 2023 Income Expenditure Restrtcted funds Housing related debt advice Slroud benefits Mental health debt Energy a(fvice program European Unlon settlemenl scheme Big Energy Sawng Nefv￿rk I Big Energy Saving Winter 14ousehold supp)rt fund Cirencester foodbank North Co15wold foodbank Stroud foodbank Stroud advice Multiply adult numeracy project 13.907 32,523 972 4,712 25.091 33,625 130,4141 155,1951 8,584 10.953 972 4,712 {8,8441 6.9¢J) 17,145 72.681 6.085 177,000 44,689 51,386 20.944 125,000 16,0861 1137.874) {51.8581 157,2141 126.9801 {193,0381 17,144 111,807 7,169 5.828 6,036 68.038 31,588 762 Total re8trfctod lund8 141,940 518.114 599,091 93,971 Unigstrl¢tgd lunds D8swnated fund$.' Stroud IT lund Stroud advice Cotswolds advice Additional expendrture fund 22 212,041 73.916 1221 (212.0411 173.916} 31,488 Total designated funds 380,340 31,508 285,957 General funds 164,897 236 669 193 093 104.559 490,100 Total unre8trl¢t•d funds 545.237 236669 552.975 136.067 92,864 Total fund• 687 177 735,158 707,909 28 cItiZons Advlce Stroud & Cotswold Districts Llmlted Noles to the flnanclal statements For the ear ended 31 March 2024 16. Mov•ments in funds Icontinuedl Purposes of restricted funds Housing related debt advice To provKle advice and support on housing reialed debt to clients in Slroud and dI￿r￿t and in the Cotswold distrtrt Stroud benefits Funding Irom the Goc#d Things Foundation to support people to get the information and advice they need from HMRC including helping them lo use new online systems. Cotswdds money advice Specialist easework advice to people in the Cotswolds with money F￿blemS lo help them lo maxlmise their income, reduce their debts and increase their confidence and competence in manayin9 thelr financial affairs. Mental health debt To provKle fvnding to improve access to finance rdated advice for people mentsl ill health. Energy advice prcgram Fundin9 to provide on&t(Fone advice to cfients in fvel poverty, or in fuel poverty risk group. European Union settlement s¢h8me Funding lo wovide advice and practi￿1 support to vulnerable EU, EE4 and Swiss Citizens living in GIoU￿sterSh1re to help them make Ihelr EU Setuemenl Scheme applicabon. Big Energy Saving Nehyork l Funding to help vulnerable consumers to reduce their eneryy costs, Big Energy Saving Winter and to run a campaign lo rai$8 awareness of onergy issues. Household sUPPOrt ftjnd Funds alloca￿ from Cotswold District Council and Slroud Distn'ct Coun¢il from the Household Support Fund to distribute to 8ligible households. Clren¢ester foc4Jbank To fijnd dedicated advisors for the Cirencester foodbank. North Cotswold for>abank To fund dedicated advisors for the North Cots￿S foTrdbank Stroud ft￿dbank To fund a dedrated advtsor for the Stroud foodbank. Stroud advice Funds are ￿$tricted for the use by the Bureau for providing advice in the Slroud and District local govemment area. Multiply •Jult numera project Clients vkno needed advice in relatlon to debt, food and fuèl povety were helped wlh living Maths sknlls eg budgeting and understanding bills lo help thern manage personal IInan￿9 more confhdenlly. 29 citlzens Advice Stroud & Cotswold Dlstricts Limited Notes to tho flnanclal statgmonts For th• ear Ond￿ 31 March 2024 16. Movoments In funds (continued) Purposes of deslgnat•d fund$ Stroud IT fund For the purchase of ngw computer equipment for the Slroud district Stroud adw¢e Funds raised are designated for the use by the Bureau in Stroud and District b¢al government area. Cctswold advic8 Fund5 raised are designated for the use ty the Bureau in the Cotswold and Di5trKI local government area. Addilionalexp&nditurefvnd Funds for addlts'onal expenditure reLgting lo staffing and IT equipment agreed at the Board meeting in February 2023. Purposo of transfers between funds The transfers from the Slroud advice and Cotswohl &Yvice deS￿nated fvnds to ￿$tricted funds are to lop up overspends on projects. 30 Cltlzons Advlce Stroud & Cotswold Dlstrfcts Llmlted Notos to tho flnanclal statsmonts For the ear end•d 31 March 2024 16. Movemftnts In funds Icontinuedl Prior ￿rk￿l comparatlve Transfers and other Al 31 March gains 2023 Al 1 Aprll 2022 Income Expenditure Rostrlcted funds Houslng related debt advi Stroud benefits Cotswold money advice Mental health debt Universal credll help lo Glaim Money advice serwice Energy advice program European Union settlement scheme Big Energy Saving Ne￿Ork I Big Energy Saving Winter Household support fund Covid Hardship fund 1,359 55.551 6,531 13,308 13,482 25,065 19,903 7,500 112,5171 142.9311 {29,2951 112,3361 13,907 32,523 15,264 972 113,d821 1,203 130 {1,3331 4.712 4,712 26.495 {37,Wl 11.368 10.715 19,914 147,800 113,4841 175,1191 1.872 17,145 72,681 1,016 856 Total ro8trl¢led funds 1Cf.674 246,807 226,750 15.209 141,940 Unrn5tricted lund¥ D8signated funds.. Stroud IT fvnd Stroud advice Cotswolds advtce Additional expenditure fund 635 245,082 37,118 12,495) 1.882 (155,818} {106,932} {94.6691 115,2641 94,361 22 212,041 73.918 94.361 229.709 146,731 rotal deslgnated funds 282,835 252,982 376,440 380,340 25,953 General fvnds 156,748 70,729 74,505 11.925 164.897 Total unre8trlctod funds 439,583 447,169 327,487 Total funds 546.257 693.976 554,237 1.181 687.177 31 Cltlzens Advlce Slroud & Cotswokl Dlgtrlcts Llmltod Nol•s to tho flnanclal statement8 Foi tho ear ended 31 March 2024 17. Operatlnglgase commltments The charity had operating leases * the year end wth total future minimum 5e8se payments as tollows.. 2024 2023 Amount failing due: Wrthin 1 year Wlthin 1- 5 years 25,183 23,409 15.197 25,183 38,606 18. Condult funding 2024 2023 Balance al stsrt of yea Funding received during year Funding distributed during year Balance al end of year 13,$43 2.612 12,409 1,478 13.743 13,543 Conduit funds are monles receNed lor third parties and do not belong to Ihe charity. The charity Passes them through the accounts under a unjque project code as a service to other charits'es to help their charitable purposes. but does not ckim gfft aid nor has control over their use. The receipts and payments referred lo above have been excluded from the Statement of Financlal Activilte$. The balance held at the end of the year Is Included in other creditors Inole 121. 19. Contlngent liablllty The charty is party to a multi-employer pension scheme with The Pension Trust. The estimated debt on wilhdrawal1375 debt) for GAB Slroud & Distrid has been calculated to be £12,403. This figure has an effective date of 30 September 2023. In the prior year the conts'ngent liabilty was estimated lo be £17,430 (effective 30 September 2022). The charity c￿r￿n￿ has no intention of thdrawtng trom the scheme. 20. Rolatod party tran8actlon• There were no related paty transactions in Ihg current or prior year. 32