CITIZENS ADVICE COLCHESTER
TRUSTEES REPORT AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company No. 04431673
Registered Charity No. 1097252
CITIZENS ADVICE COLCHESTER
Trustees Report and Financial Statements
For the Year Ended 31 March 2024
| Page | |
|---|---|
| Report of the trustees | 1 - 7 |
| Independent examiner's report on the accounts | 8 |
| Statement of financial activities including | |
| income and expenditure account | 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 - 21 |
CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31st March 2024.
Reference and Administrative Details
Registered charity name Citizens Advice Colchester Charity registration number 1097252 Company registration number 4431673 Principal office and registered office 28 Middleborough Colchester CO1 1TG The Trustees Mr D J Jarvis CBE Chair Mr B Hayton Vice Chair Resigned 19 September 2023 Mr G N Chalklin Treasurer Mr S R Ede Company Secretary Ms A C Tyler Resigned 19 September 2023 Mr M A Kerr Ms A Roberts Appointed 28 March 2023 Mr J Newell Appointed 28 March 2023 and resigned 10 January 2024 Mr L D Ramsay Appointed 9 August 2023 Miss L C Tippett Appointed 2 April 2024
Company Secretary Mr S R Ede Independent Examiner Denmark Forrester Limited Office 12 The Bentalls Centre Colchester Road Heybridge CM9 4GD
Page 1
CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Objectives
Citizens Advice Colchester (CAC) provides free, confidential, impartial, and independent advice and information for the benefit of the local community. It aims to influence the development of social policies and services, and to ensure that individuals do not suffer through a lack of knowledge or any inability to express their needs effectively.
Governing document
Citizens Advice Colchester is a registered charity and a company limited by guarantee. The maximum liability of each member is limited to one pound. At 31st March 2024 the company had 32 members (2023: 31 members). CAC is governed by its Memorandum and Articles of Association as adopted on 26 July 2022.
Colchester Citizens Advice Bureau was incorporated as a company limited by guarantee on 3rd May 2002. The company commenced operation on 1 April 2004, at which date the assets and liabilities of the Colchester Citizens Advice Bureau (unincorporated association) were acquired.
In line with service wide changes and national re-branding, the term 'Bureau' was removed from the company name. The organisation formally changed its name by special resolution in February 2016 to Citizens Advice Colchester.
Organisational Structure
Citizens Advice Colchester is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of CAC and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum every two months or more frequently if necessary and delegate the day to day operation of the organisation to senior management. There are several sub-committees, such as the finance sub-committee, and working groups are formed as required. The Trustee Board is independent from management. A register of members' interests is maintained online and is available to the public, on request.
Recruitment and appointment of trustees
Trustees, who are also Directors of the Company, are recruited for vacancies based on the necessary skills to complement the existing lead roles within the Board, and where possible the Board's profile reflects that of the community which it serves. Potential candidates are interviewed and attend a board meeting prior to being invited to join. The Trustee Board oversees the election process for Board appointments and at the first meeting after the Annual General Meeting the Board elects the Chairman, the Vice Chairman, and the Honorary Treasurer. The Board can co-opt a Councillor from Colchester City Council as an observer, if one is nominated by them. Through ongoing development and specific interventions, we aim to improve the effectiveness of the trustee board and the management team, which is paramount to ensure the charity is cost effective whilst fulfilling its obligations and seeking to meet the growing needs of its clients, local community, and stakeholders.
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CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
Changes to trustees
Newly appointed Trustees are provided with an induction to Citizens Advice Colchester through the provision of access to online information packs, training courses, meetings with senior management and mentoring by established trustees.
During 2023-24 one Trustee, Jordan Newell, left the Board and two Trustees, Lance Ramsay and Louisa Tippett have joined the Board. Lance's appointment was ratified at the last AGM. It is proposed that following the AGM Graeme Chalklin will stand down as Treasurer and Louisa Tippett will be appointed as Treasurer (subject to Member ratification as a Trustee). Graeme has been instrumental in overhauling our financial practices and we are hugely grateful for his hard work and dedication.
Related parties
Citizens Advice Colchester is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which ensures quality and consistency of advice by providing quarterly monitoring against a framework of standards and casework management. Operating policies are independently determined by the Trustee Board of CAC to fulfil its charitable objects and comply with national membership requirements.
The charity also co-operates and liaises with several other advisory services, local charities, and public service departments on behalf of clients. Where one of the trustees holds the position of trustee/director of another charity they may be involved in discussions regarding that other charity but not in the ultimate decision making process.
Major risks
The Board of Trustees of Citizens Advice Colchester has a Risk Register and a Business Continuity Plan in place. The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end the Trustee Board is continually monitoring and managing its risks, reviewing the risk register and ensuring action plans are in place to mitigate its key risks.
As an independent local charity we are dependent on project and grant funding following a competitive bidding process and these awards are often annual. This poses a risk to the continuity of our full range of services and retention of expert staff. The effects of this have been minimised by the procedures in place, which have resulted in funding being secured from a variety of sources. The charity continues to seek to diversify its funding sources. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
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CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
Reserves policy
We ensure that resources are available in each financial year to meet any reasonably foreseeable contingency and contractual commitments including salaries, accommodation, IT, communications, storage and legal expenses.
Investment policy
As required in its Memorandum paragraph 4.15 in furtherance of its objects, and for no other purposes, the Company has the power to invest or deposit funds in any lawful manner whilst having regard to the suitability of investments and the need for diversification.
STRATEGIC REPORT
Achievements and performance
Citizens Advice Colchester has built on last year's positive changes and is evolving and maintaining its forward trajectory. I am very pleased to be able to report that we have continued to increase both our range of services and the number of clients we support - achieved through increased staff and volunteer numbers, developing new channels and building on our partnering arrangements.
Bev Perkins (Chief Officer) has worked closely with our Service Delivery Lead to focus the team on delivery of the strategy and plan. I am proud to confirm that we have progressed our strategic priorities as follows:-
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Meet needs across nine core services (increased demand, renewed focus on cost-of-living challenges)
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i. Increased number of General Advisers
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ii. Grants from Essex County Council and National Lottery Fund to support General Advice and Money and Debt Teams in addressing the cost of living crisis
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Focus on priority issues for Colchester (identified by local research) i. Increased scope of specialist teams and caseworkers
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ii. Increased Third sector signposting, referrals and partnerships
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Assist a diverse client pool, representative of Colchester residents
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a. from areas of deprivation
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b. with complex needs (multiple issues)
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c. health or social challenges
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i. Increase outreach funded by North Essex Health & Wellbeing Alliance
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ii. Extension of unique 'Social Prescriber ++' role
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Agree priorities with stakeholders (third party agencies and local authorities)
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i. Consultation re 'Working Together' on shared issues
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ii. Redefining CAC as strategic partners
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CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
Our Offices at 28 Middleborough have been popular with clients and the team and we had plans to increase our space by a third to accommodate the growing team. Unfortunately, our landlord Lepra has decided to market the building and so we will be sourcing new premises. We are grateful to Lepra for their continued support and the notice given and hope to find suitable premises through our local authority, community and third sector contacts.
In summary, we continue to demonstrate our Mission, Vision and Values (below) while delivering our strategic priorities.
CAC's Mission:
To support and empower the people of Colchester to deal with life's challenges.
CAC's Vision:
We will deliver free, impartial, confidential help to the people of Colchester when they need it, in a form which works for them and enables them to handle future situations better themselves.
CAC's Values:
Empathetic; Expansive; Evolutionary; Educating; Effective
External challenges
The cost of living (COL) crisis has impacted our organisation in two key ways. Firstly, increased demand as more people fall into deficit budgets - unable to meet their essential needs for accommodation, energy, food and travel. Secondly, the running costs to provide our core service has risen.
We serve communities facing severe challenges that have been exacerbated by the increased COL. Many of the clients we serve are either based in deprived areas or belong to groups that are disproportionately affected by the COL increase.
The COL crisis has therefore resulted in an increase in the demand for our services. Last year, we helped 5,900 clients and received 10,000 hits on our website. 1,500 completed enquiry forms and 870 used our benefits calculator hosted on the website to help maximise their income (with the support of specialist caseworkers where required).
Rise in demand has meant we have had to take on new volunteers and staff allowing us to reach new and vulnerable people via extended channels i.e. website, out of hours phone service and increasing face to face outreach. In addition, we have expanded our Energy Team who specifically help low-income clients and families with young children and our Money and Debt Team to assist those struggling with negative budgets.
And finally, as ever, we are grateful to all our funders. Alongside our core general advice service, funded in part by Essex County Council and Colchester City Council, we have continued to deliver our successful partnership projects with, in particular, Big Lottery Fund, British Gas Energy Trust, Colchester Borough Homes, Energy Redress Scheme, Essex County Council, Ministry of Justice, NHS (ESNEFT), Trussell Trust and UK Power Networks.
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CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
Financial review
Position
Incoming resources in the year were £467,393 (2023 as restated £374,209). Of this, £389,279 related to restricted project activities (2023 £314,496).
A surplus of £80,272 was this year’s outcome. At 31 March 2024 total reserves were £453,444, of which £5,792 represented restricted funds (2023 £71,105).
The increase in surplus and unrestricted funds is a welcome hedge against the currently heightened financial uncertainties and the increase in both scope and demand for services provided by Citizens Advice Colchester.
Plans for future periods
We plan to review and refresh our strategy according to changes to our operating environment and informed by local demand for our services, social trends and data from our partners in the third sector.
Funding will continue to be priority due to the uncertainty of annual finding and our Local Authority funding is approximately 7% of our operating costs. We will review our funding plan to increase direct fundraising, strengthen grant applications and diversify our funding base (while maintaining focus on local needs).
We have created new roles: Communications and Research & Campaigns to raise our profile, inform bids and build strategic partnerships with those who share our values and priorities; and Money & Debt and Benefit Lead roles to support the Team in ensuring we maximise our support for those who are disproportionately affected by the cost of living crisis.
All our team (Volunteers and Staff) will be offered access to an Employee Assistance Programme and an application to keep them safe when working alone, from home or at outreach.
We will seek premises that are accessible and safe for our clients, team and suppliers; sufficient to accommodate the growing team and new ways of working with increased remote access online and by phone (paired with outreach locations for those clients who need to meet face to face).
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CITIZENS ADVICE COLCHESTER
Report of the Trustees
For the Year Ended 31 March 2024
Trustees' responsibilities statement
The trustees, who are also directors 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 (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In these statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They 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' annual report and the strategic report were approved on and signed on behalf of the board of trustees by:
02/07/2024
David Jarvis CBE Chair Trustee & Director
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CITIZENS ADVICE COLCHESTER
Independent Examiner's Report to the Trustees on the Accounts
For the Year Ended 31 March 2024
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2024 which are set out on pages 9 to 21.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your 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 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, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts did not accord with those records.
During my examination, the Chief Officer made me aware that the balances brought forward on three restricted funds were incorrect. The funds in question should have been transferred to unrestricted funds during the year ended 31 March 2023, and not carried forward.
Rather than correcting the brought forward position, the Trustees have decided to transfer the balance on these funds to unrestricted funds during the current year. The funds and amounts in question are: CB Homes £13,283, MAPS £42,043 and Lakes £7,001.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Date: 02/07/2024 Office 12 Robert Easby The Bentalls Centre Maldon Independent Examiner Essex For and on behalf of Denmark Forrester Ltd CM9 4GD Chartered Accountants Statutory Auditor
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CITIZENS ADVICE COLCHESTER
Statement of Financial Activities
(Including Income and Expenditure Account)
For the Year Ended 31 March 2024
| Note Income Donations and legacies 3 Investments 4 Total incoming resources Expenditure Charitable expenditure 5 Total resources expended Net income/(expenditure) Transfer between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
£ 72,807 5,307 78,114 46,404 46,404 31,710 113,875 145,585 302,067 447,652 Unrestricted funds |
£ 389,279 - 389,279 340,717 340,717 48,562 (113,875) (65,313) 71,105 5,792 Restricted funds |
Total funds 2024 £ 462,086 5,307 467,393 387,121 387,121 80,272 - 80,272 373,172 453,444 |
As restated Total funds 2023 £ 371,561 2,648 374,209 307,648 307,648 66,561 - 66,561 306,611 373,172 |
|---|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
There were no recognised gains and losses other than the surplus for the year.
Page 9
CITIZENS ADVICE COLCHESTER
Balance Sheet
As at 31 March 2024
| As restated | |||||
|---|---|---|---|---|---|
| Note | 2024 | 2023 | |||
| £ | £ | ||||
| Fixed assets | |||||
| Tangible assets | 11 | - | 1,866 | ||
| - | 1,866 | ||||
| Current assets | |||||
| Debtors | 12 | 42,419 | 78,222 | ||
| Cash at bank and in hand | 430,996 | 326,407 | |||
| 473,415 | 404,629 | ||||
| Creditors: amounts falling | |||||
| due within one year | 13 | 19,971 | 33,323 | ||
| Net current assets | 453,444 | 371,306 | |||
| Net assets | 453,444 | 373,172 | |||
| Funds | 14 | ||||
| Restricted funds | 5,792 | 71,105 | |||
| Unrestricted funds | 447,652 | 302,067 | |||
| 453,444 | 373,172 |
The notes form part of these financial statements.
The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Approved by the Board of Trustees, and signed on its behalf
…………………………………………… Mr G N Chalklin
Date 02/07/2024
Company No. 4431673
Page 10
CITIZENS ADVICE COLCHESTER
Statement of Cash Flows
For the Year Ended 31 March 2024
| Cash used in operating activities Net movement in funds Depreciation charge Interest received Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by operating activities Cash flows from investing activities Interest income Cash used in investing activities Increase 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 |
2024 £ 80,272 1,866 (5,307) 35,803 (13,352) 99,282 5,307 5,307 104,589 326,407 430,996 |
As restated 2023 £ 66,561 1,866 (2,648) (73,313) 17,605 10,071 2,648 2,648 12,719 313,688 326,407 |
|---|---|---|
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
1. Accounting policies, judgements and key sources of estimation uncertainty
Company information
Citizens Advice Colchester is a private company limited by guarantee domiciled and incorporated in England and Wales. The registered office is 28 Middleborough, Colchester, Essex, CO1 1TG. The company number is 4431673.
Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation of uncertainty in the preparation of the financial statements are as follows:
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 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (issue in October 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Citizens Advice Colchester 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(s).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
b) Preparation of the accounts on a going concern basis
The charity reported a surplus for the year that has brought the reserves to an amount that could sustain the running costs for a period of in excess of 12 months and on that basis the charity is a going concern.
c) Income
Voluntary income including donations, gifts, legacies and grants of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when: - the donor specifies that the grant or donation must be used only in future accounting periods: or
- the donor has imposed conditions which must be met before the charity has absolute entitlement.
Income from commercial trading activities is recognised as earned.
Investment income is recognised on a receivable basis.
Income from fundraising events run by the charity, or by agents on its behalf, is recognised in the accounts as earned.
Income from charitable activities is recognised as earned.
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
d) Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over them, any conditions associated with the donated item have been met, the receipts of economic benefits from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the charity is not recognised. Details can be found in the Trustees' Report.
e) 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.
f) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity.
Restricted funds comprise income which the contributor has specified are to be used for a specific project within the stated objects of the charity. The expenditure from the restricted funds represents the allocation of direct costs such as salaries, direct activities and an apportion of overheads and running costs as approved through the budgeting process undertaken by the Trustees. When projects are completed, the Trustees review the balances outstanding and, subject to any repayments required by the funders, approve transfers of balances, surplus or deficit to unrestricted funds. The balance can then be properly applied in future periods to further the charitable purposes in line with our articles and strategic priorities. Further explanation of the nature and purpose of each restricted fund, being specified as a grant or project, is set out in the notes to the financial statements.
g) 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. Expenditure is classified under the following activity headings:
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Costs of raising funds comprise the costs of commercial trading of the charity's retail shops and their associated support costs. It also includes the costs of the fundraising events and their support and promotion costs.
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Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the basis of an estimation of time spent by relevant staff.
i) Operating leases
The charity classifies the short term lease of properties and equipment as operating leases; the title to which remains with the lessor. Rental charges are charged on a straight line basis over the term of the lease.
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
j) Tangible fixed assets
Individual assets costing £500 or more are capitalised at cost and depreciated over their estimated useful economic lives on a straight line basis as follows: Office equipment - 50% per annum Fixtures and fittings - 25% per annum
k) Debtors
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts.
l) Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of six months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer 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 the settlement amount after allowing for any discounts due.
n) Financial instruments
The charity 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 measured and amortised cost using the effective interest method.
o) Pensions
The charity makes contributions to a defined contribution pension scheme. Contributions are charged to the statement of financial activities as they become payable in accordance with the rules of the scheme.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the tangible fixed assets and note 1j for the useful economic lives for each class of asset.
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
2. Legal status of the charity
The company is limited by guarantee. The number of members at the end of the year was 32 (2022: 31). The liability of each member or persons ceasing to be members within one year of the company's winding up, towards payment of the company debts and liabilities, contracted before cessation of membership, and winding up expenses is limited to £1.
3.
| Donations and legacies Unrestricted Donations Government and public authority services Restricted Donations Government and public authority services |
2024 £ 1,495 71,312 72,807 - 389,279 389,279 |
As restated 2023 £ 4,055 53,010 57,065 - 314,495 314,495 |
|---|---|---|
4. Investment income
All of the charity's investment income arises from interest bearing deposit accounts and represents unrestricted funds.
5. Cost of charitable activities
| General advisory services General advisory services |
Unrestricted funds £ 46,404 46,404 Unrestricted funds £ 4,111 4,111 |
Restricted funds £ 340,717 340,717 Restricted funds £ 303,537 303,537 |
Total 2024 £ 387,121 387,121 As restated Total 2023 £ 307,648 307,648 |
|---|---|---|---|
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
6. Analysis of support costs
| Staff costs Premises Communications and IT General office Finance costs Professional fees Depreciation Sundry |
Total 2024 £ 307,361 21,973 21,471 8,836 140 20,260 1,866 5,214 387,121 |
As restated Total 2023 £ 248,427 17,039 11,196 8,890 139 19,333 1,866 758 307,648 |
|---|---|---|
7. Staff numbers
The average number of full time equivalent employees during the year is analysed as follows:
| Charitable purposes Management and administration of the charity Full time equivalent |
2024 No. 11 3 14 |
2023 No. 8 3 11 |
|---|---|---|
At the year-end date 12 of the above employees participated in the defined contribution pension scheme. Contributions for the year, included in staff costs, totalled £8,007 (2023: £6,685).
There are no staff receiving emoluments of more than £60,000 (2023: None).
8. Trustees remuneration
The trustees received no remuneration during both the current and preceding year. Expenses totalling £1,131 were paid to trustees during the year (2023: £163).
9.
| Net incoming resources | As restated 2024 2023 |
|---|---|
| Net incoming resources for the year are stated after charging: | £ £ |
| Depreciation of fixed assets | 1,866 1,866 |
| Independent examiners remuneration | 1,200 1,200 |
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
10. Taxation
As a charity, Citizens Advice Colchester is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
| 11. Tangible fixed assets Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024 Depreciation At 1 April 2023 Charge for the year Eliminated on disposal At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 12. Debtors Prepayments Accrued income 13. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Social security and other taxes Other creditors |
2,860 - - 2,860 2,860 - - 2,860 - - Fixtures and fittings |
55,977 - - 55,977 54,111 1,866 - 55,977 - 1,866 2024 £ 4,965 37,454 42,419 2024 £ 4,489 6,513 5,927 3,042 19,971 Equipment |
As restated 58,837 - - 58,837 56,971 1,866 - 58,837 - 1,866 As restated 2023 £ 4,125 74,097 78,222 As restated 2023 £ 4,489 23,577 3,996 1,261 33,323 Total |
|---|---|---|---|
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
| 14. Analysis of charitable funds At 1 April 2023 As restated Surplus for the year Transfer between funds At 31 March 2024 Unrestricted funds At 1 April 2023 As restated Incoming resources Resources expended Transfer between funds At 31 March 2024 As restated Restricted funds 01-Apr-23 £ CB Homes Fund 13,283 CitA Cost of Living - General Advice - MAPS 42,043 Lakes 7,001 UKPN - Warm Homes 2,627 Warm Start 750 Warm Start Plus - BGET 527 ECC COL 1,042 Foodbank 137 Long Covid 3,695 71,105 |
£ 25,000 15,000 41,567 - 9,259 15,623 35,748 (949) 28,170 34,456 62,608 49,000 73,797 389,279 Incoming resources |
Unrestricted 302,067 31,710 113,875 447,652 £ (23,966) (17,442) (20,849) - (8,481) (9,831) (26,390) - (34,514) (41,092) (53,659) (38,948) (65,545) (340,717) 0 Resources expended |
Restricted 71,105 48,562 (113,875) 5,792 302,067 78,114 (46,404) 113,875 447,652 Transfer £ (14,317) 2,442 (20,718) (42,043) (7,779) - (11,985) 199 6,344 6,109 (9,991) (10,189) (11,947) (113,875) 681,434 General fund |
Total 373,172 80,272 - 453,444 302,067 78,114 (46,404) 113,875 447,652 £ - - - - - 5,792 - - - - - - - 5,792 Total restricted funds Total unrestricted funds |
|---|---|---|---|---|
Page 18
CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
Purpose of restricted funds
CB Homes Fund
Provision of Money and Debt Advice to tenants referred by Colchester Borough Homes.
CitA - Cost of Living
The funding objectives to increase capacity, extend channels, focus on areas of deprivation. Administered by National Citizens Advice.
General Advice - Essex County Council and Colchester City Council
Apportioning the annual grant funding attributable to the direct costs of providing volunteer ‘General Advisers’ services, including basic overheads and training essential to their roles in delivering the nine core services which the CitA network provide to residents in Colchester.
MAPS
Provision of Money and Debt Advice across two streams of activity: Mainstream and Increased Capacity. Funded by the Money and Pensions Service (via National Citizens Advice).
Lakes
Provision of caseworker to support in-patients at The Lakes Mental Health Unit in Colchester. During lockdown this was extended to those with diagnosed chronic mental health conditions. Funded jointly by Big Lottery Fund and Catalyst.
UKPN Project
Provision of in-depth fuel poverty alleviation and energy advice to clients in fuel poverty. Funded by UK Power Networks.
Warm Homes Project
Provision of specialist welfare benefits advice, income maximization, initial debt advice and energy efficiency advice delivered by an Energy Adviser. To improve the health and wellbeing of residents through the delivery of an advice service that addresses the needs of people living in cold homes. Funded by the Energy Redress Scheme and administered by Citizens Advice Essex.
Warm Start Project
Provision of specialist welfare benefits advice, income maximization, initial debt advice and energy efficiency advice delivered by Energy Adviser. To improve the health and wellbeing of local families with dependent children, 80% of clients are deemed fuel poor.
Warm Start Plus Project
Provision of specialist welfare benefits advice, income maximization, initial debt advice and energy efficiency advice delivered by an Energy Adviser. To improve the health and wellbeing of local families with dependent children, 80% of clients are deemed fuel poor. Funded by the Energy Redress Scheme and administered by Citizens Advice Essex.
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
BGET Project
Provision of Money and Energy Advice by an Energy Adviser supporting vulnerable clients e.g. those using foodbanks. Funded by British Gas Energy Trust.
Essex County Council - Cost Of Living
Funding to address impact of the cost of living crisis. Provision of an out of hours telephony service, additional three General Advisers supporting clients via email, phone and face to face, a Training Lead and additional experienced Debt and Money Adviser.
Foodbank Project
Provision of face-to-face advice, support and information directly to clients at Colchester Foodbanks. Delivered via experienced Debt & Money and Benefits Advisers. Delivered in partnership with Colchester Foodbank and funded by Trussell Trust.
Long Covid Project
Provision of Social Prescribers to provide advice and support to patients diagnosed with Long Covid and referred by the Long Covid Unit in Colchester. To promote understanding of Long Covid symptoms and services available increasing access to these and to online information and support. Funded by the NHS ESNEFT and delivered by Colchester, Ipswich and West Suffolk local area Citizens Advice.
15.
| Analysis of net assets between funds Tangible fixed assets Current assets Current liabilities Net assets Tangible fixed assets Current assets Current liabilities Net assets |
Unrestricted fund - 467,623 (19,971) 447,652 Unrestricted fund 1,866 318,524 (18,323) 302,067 |
Restricted funds - 5,792 - 5,792 Restricted funds - 86,105 (15,000) 71,105 |
2024 Total - 473,415 (19,971) 453,444 As restated 2023 Total 1,866 404,629 (33,323) 373,172 |
|---|---|---|---|
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CITIZENS ADVICE COLCHESTER
Notes to the Financial Statements
For the Year Ended 31 March 2024
16. Lease commitments
At the balance sheet date the charity had the following lease commitments:
| Falling due: Within one year Between one and five years After five years |
2024 £ 30,156 - - 30,156 |
2023 £ 21,804 43,608 - 65,412 |
|---|---|---|
17. Ultimate controlling party
There is no ultimate controlling party.
18. Related party transactions
There were no transactions with related parties during the year (2023: None).
19. Prior period error
£15,000 of funding received in March 2023, allocated to unrestricted funds, should have been deferred to the year ended 31 March 2024. This error has been corrected, the results of which were to reduce income and increase deferred income in the 2023 financial statements.
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