COMPANY REGISTRATION NUMBER: 04646727 CHARITY REGISTRATION NUMBER: 1097260
Citizens Advice Allerdale
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2023
SAINT & CO
Chartered accountants Unit 7B Lakeland Business Park Cockermouth Cumbria CA13 0QT
Citizens Advice Allerdale
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| PAGE | |
|---|---|
| Trustees' annual report (incorporatng the director's report) | 1 |
| Independent examiner's report to the trustees | 7 |
| Statement of fnancial actvites (including income and expenditure | |
| account) | 9 |
| Statement of fnancial positon | 10 |
| Statement of cash fows | 12 |
| Notes to the fnancial statements | 13 |
Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
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 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
| Registered charity name | Citzens Advice Allerdale | |
|---|---|---|
| Charity registraton number | 1097260 | |
| Company registraton number | 04646727 | |
| Principal ofce and registered | Town Hall | |
| ofce | Oxford Street | |
| Workington | ||
| Cumbria | ||
| CA14 2RS | ||
| THE TRUSTEES | Mr A L Barry | (Resigned 22 March 2023) |
| Mr K A Litle | ||
| Mr A Clark | (Resigned 20 October 2022) | |
| Mr W Pegram | ||
| Ms L M McDonald | ||
| Ms S Stamper | (Resigned 20 October 2022) | |
| Mr A I Semple | ||
| Ms L M V Clark | (Appointed 22 March 2023) | |
| COMPANY SECRETARY AND CHIEF | ||
| OFFICER | Mrs T Edwards | |
| INDEPENDENT EXAMINER | Mr William Moore BA, FCA | |
| Saint & Co Chartered Accountants | ||
| Unit 7B Lakeland Business Park | ||
| Cockermouth | ||
| Cumbria | ||
| CA13 0QT | ||
| BANKERS | HSBC Bank Plc | |
| 3 Pow Street | ||
| Workington | ||
| Cumbria | ||
| CA14 3AH |
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Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Membership
Membership of the company is open to individuals (over the age of 16 years) who are interested in furthering the work of the Charity and are not paid or volunteer workers at Citizens Advice Allerdale and any corporate body or incorporated association which is interested in furthering the Charity's work and is admitted to membership.
Trustees and Directors
The Trustees are elected from the local community or appointed by a number of member organisations, not exceeding one-third of the Board.
Vacancies
A shortfall in the number of trustees is met by election at the Annual General Meeting or by co-option in the meantime.
Organisational Structure
The Company functions through a Board of Trustees whose members are directors of the Company and are responsible for setting the strategic direction of the organisation and the policy of the charity. A Chief Officer is appointed and has full responsibility for the day-to-day operation of Citizens Advice Allerdale.
The Board will establish sub-committees, when it is appropriate to charge a group of Trustees with a required task. The Trustees carry the ultimate responsibility for the conduct of Citizens Advice Allerdale and for ensuring that the charity satisfies its legal and contractual obligations. Trustees normally meet at three monthly intervals. The Trustee Board is independent from management. The articles limited the chair to six years in office. The Chair is K. Little; Vice-Chair is W Pegram.
Training for Trustee Board members has been conducted by presentations by key staff, through the online Citizens Advice online training material and through the use of a Reference Manual for Trustees, which is frequently updated and changes explained at Board meetings. Briefing papers about developments are presented to Board meetings when necessary.
Citizens Advice Allerdale is a member of national Citizens Advice which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Citizens Advice Allerdale is audited annually over a three year cycle from paper based to in person visit.
Citizens Advice Allerdale also co-operates and liaises with several other advisory services, local charities and other agencies on behalf of clients.
Citizens Advice Allerdale is a corporate member of Citizens Advice Cumbria, which is the umbrella body for the county provision of some nationwide contracts. Citizens Advice Allerdale and is a delivery partner or subcontractor to these arrangements.
Key Management Personnel Remuneration
The policy for the remuneration of Key Management Personnel is to follow the Local Authority scale rates.
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Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Risks Policy
We have a Risk Register which we review at least annually. The key risks at the moment are:
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Funding from Statutory Bodies and other funders which continue at the same level or may reduce including through Local Government Reorganisation.
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The loss of key experienced staff.
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Low number of trustees and length of service.
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The reduction in income from the Legal Aid Agency due to a reduced demand for housing possession related casework during the pandemic.
OBJECTIVES AND ACTIVITIES
The Aims of Citizens Advice Allerdale
The Citizens Advice service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. It values diversity, promotes equality and challenges discrimination.
We aim to:
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provide the advice people need for the problems they face.
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improve the policies and practices that affect peoples' lives.
We value diversity, promote equality and challenge discrimination.
We have a rolling three year Business and Development Plan which is reviewed 6 monthly to address any changes in funding levels or service delivery requirements that may have arisen.
Our objectives are:
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To meet the required standards of the national Citizens Advice membership scheme.
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To meet the needs of clients presenting themselves to us.
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To review our service delivery model at regular intervals to ensure that we are effective in the use of our Resources.
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To regularly review our budget forecast to ensure our organisation remains financially viable.
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To continue to develop our advice channels to enable a provision that both meets the needs of all our clients and matches our resources.
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Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
ACHIEVEMENTS AND PERFORMANCE
Achievements during the year
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We have met all the requirements of the Citizens Advice Membership Scheme.
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We have met all the requirements for the Special Quality Mark standard.
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We have continued to review and adapt out service model to meet the needs of the clients presenting to us.
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We have continued to review our main funding sources and to make funding applications to other organisations and trust funds, where potential changes/reductions were identified.
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We have started engagement with the shadow Cumberland authority which is vested on 1st April 2023.
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We have worked collaboratively with other local Citizens Advice in Cumbria to source partnership funding.
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We employed 23 staff including 1 Business Administration Apprentice and we have a volunteer workforce of 31 comprising 23 Generalist Advisors and 9 Trustees.
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We continue to provide a Pension Wise service for Cumbria and a Legal Aid Housing service for Allerdale and Copeland.
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We continue to develop and contribute to Research and Campaigns to address the policies, practices and procedures that impact on the lives of people both nationally and in Allerdale.
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We continue to champion equality by:
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❖ Challenging discrimination through advice
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❖ Championing equality through research and campaigns
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❖ Valuing diversity as an employer and volunteer agency
Donations and Grants Policy
Citizens Advice Allerdale does not provide grants or donations to other charities or organisations.
Voluntary Help
Citizens Advice Allerdale receives help from volunteers for generalist advice, the equivalent of 4.5 full time equivalent employees.
Public Benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
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Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
FINANCIAL REVIEW
During the year, total incoming resources amounted to £611,622 (2022: £574,181) which resulted in net incoming resources of £51,865 (2022: £51,727) of which £29,962 was unrestricted. The balance of unrestricted funds at 31 March 2023 was £272,795 (2022: £242,832).
Reserves Policy
Citizens Advice Allerdale is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. Citizens Advice Allerdale maintains a projection for the future and will ensure that this continues to be derived from as wide a variety of sources as possible.
The Trustees review our Reserves Policy annually and this is currently set at £160,000. Total reserves at 31 March 2023 were £297,507, of which £24,712 was restricted.
Investment Powers
Citizens Advice Allerdale is empowered by item 5.11 of its Memorandum of Association to invest monies of the Company not immediately required for its own purposes in or upon such investments, securities or property as may be thought fit. Reserves and other funds not immediately required for Citizens Advice Allerdale’s operations are deposited with Charities Official Investment Funds (COIF).
PLANS FOR FUTURE PERIODS
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To continue to strengthen the impact, quality and sustainability of Citizens Advice Allerdale by increasing the emphasis on joint working.
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To continue to research funding opportunities and submit applications to increase and diversify the funding base.
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To building on the capacity of our teams through the development of skill sets via a comprehensive training programme.
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To strengthen the number of volunteers through an active recruitment process for all volunteer roles.
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To continue to develop our service delivery channels to meet the needs of our clients.
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Citizens Advice Allerdale
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
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. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the surplus or deficit of the group for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that 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.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 21 December 2023 and signed on behalf of the board of trustees by:
Mr K A Little Director
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Citizens Advice Allerdale
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Citizens Advice Allerdale
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Citizens Advice Allerdale ('the charity') for the year ended 31 March 2023.
RESPONSIBILITIES AND BASIS OF REPORT
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Since the charity’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 matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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Citizens Advice Allerdale
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Citizens Advice Allerdale (continued)
Year ended 31 March 2023
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.
Mr William Moore BA, FCA Saint & Co Chartered Accountants Independent Examiner
Unit 7B Lakeland Business Park Cockermouth Cumbria CA13 0QT
…………………………………………….
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Citizens Advice Allerdale
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donatons and legacies | 5 | 280,773 | 313,271 | 594,044 | 515,216 |
| Charitable actvites | 6 | 15,837 | – | 15,837 | 58,876 |
| Investment income | 7 | 1,649 | – | 1,649 | 42 |
| Other income | 8 | – | 92 | 92 | 47 |
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| Total income | 298,259 | 313,363 | 611,622 | 574,181 | |
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| Expenditure | |||||
| Expenditure on charitable actvites | 9,10 | (268,297) | (291,460) | (559,757) | (522,454) |
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| Total expenditure | (268,297) | (291,460) | (559,757) | (522,454) | |
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| Net income and net movement in funds | 29,962 | 21,903 | 51,865 | 51,727 | |
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| Reconciliaton of funds | |||||
| Total funds brought forward | 242,833 | 2,809 | 245,642 | 193,914 | |
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| Total funds carried forward | 272,795 | 24,712 | 297,507 | 245,642 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 25 form part of these financial statements.
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Citizens Advice Allerdale
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible fxed assets | 16 | 22,959 | 10,063 | |
| CURRENT ASSETS | ||||
| Stocks | 17 | 8,563 | 12,958 | |
| Debtors | 18 | 17,696 | 32,148 | |
| Cash at bank and in hand | 301,777 | 220,585 | ||
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| 328,036 | 265,691 | |||
| CREDITORS: amounts falling due within one year | 19 | 52,693 | 28,866 | |
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| NET CURRENT ASSETS | 275,343 | 236,825 | ||
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| TOTAL ASSETS LESS CURRENT LIABILITIES | 298,302 | 246,888 | ||
| PROVISIONS | ||||
| Pensions and similar obligatons | 20 | 795 | 1,246 | |
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| NET ASSETS | 297,507 | 245,642 | ||
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| FUNDS OF THE CHARITY | ||||
| Restricted funds | 24,712 | 2,809 | ||
| Unrestricted funds | 272,795 | 242,833 | ||
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| Total charity funds | 22 | 297,507 | 245,642 | |
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For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 13 to 25 form part of these financial statements.
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Citizens Advice Allerdale
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of trustees and authorised for issue on 21 December 2023, and are signed on behalf of the board by:
Mr K A Little Director
Company Registration Number: 04646727 Charity Registration number: 1097260
The notes on pages 13 to 25 form part of these financial statements.
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Citizens Advice Allerdale
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | 51,865 | 51,727 |
| Adjustments for: | ||
| Depreciaton of tangible fxed assets | 7,940 | 4,582 |
| Other interest receivable and similar income | (1,649) | (42) |
| Accrued expenses/(income) | 30,963 | (47,590) |
| Changes in: | ||
| Stocks | 4,395 | (5,907) |
| Trade and other debtors | 7,896 | 9,166 |
| Trade and other creditors | (580) | (2,081) |
| Provisions and employee benefts | (451) | (3,276) |
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| Cash generated from operatons | 100,379 | 6,579 |
| Interest received | 1,649 | 42 |
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| Net cash from operatng actvites | 102,028 | 6,621 |
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| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of tangible assets | (20,836) | – |
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| Net cash used in investng actvites | (20,836) | – |
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|
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 81,192 | 6,621 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 220,585 | 213,964 |
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| CASH AND CASH EQUIVALENTS AT END OF YEAR | 301,777 | 220,585 |
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The notes on pages 13 to 25 form part of these financial statements.
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Town Hall, Oxford Street, Workington, Cumbria, CA14 2RS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
The charity/trust meets the definition of a public benefit entity under FRS102.
Going concern
There are no material uncertainties about the charity's ability to continue.
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.
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.
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 (other than those held for investment purposes).
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. ACCOUNTING POLICIES (continued)
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 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.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. ACCOUNTING POLICIES (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & equipment - 5 or 10 years straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. ACCOUNTING POLICIES (continued)
Grants receivable
Grant receivable are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in the statement of financial activities in the period it arises, and is allocated to the appropriate expenditure heading.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. ACCOUNTING POLICIES (continued)
Financial instruments (continued)
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. LIMITED BY GUARANTEE
The Company is limited by guarantee and does not have a share capital.
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Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. DONATIONS AND LEGACIES
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| DONATIONS | |||
| Allerdale Borough Council | 26,400 | – | 26,400 |
| Workington Town Council | 5,000 | – | 5,000 |
| Maryport Town Council | 1,000 | – | 1,000 |
| Wigton Town Council | – | – | – |
| Keswick Town Council | 500 | – | 500 |
| Parish councils | 1,210 | – | 1,210 |
| Donatons received | 1,476 | – | 1,476 |
| GRANTS | |||
| Cumbria County Council - Money Advice Grant | 66,570 | – | 66,570 |
| Citzens Advice Grants | 42,957 | – | 42,957 |
| Cumbria County Council - Cost of Living Support Funds | – | 24,000 | 24,000 |
| Other Grants received | 14,452 | 15,000 | 29,452 |
| Cumbria County Council - Poverty Grant | 30,000 | – | 30,000 |
| MAPS Financial Inclusion Project | – | 81,350 | 81,350 |
| Hadfeld Trust | 5,000 | – | 5,000 |
| Pension Guidance | – | 79,372 | 79,372 |
| Cumbria Community Foundaton | 35,909 | – | 35,909 |
| Energy Grants | – | 35,407 | 35,407 |
| Foodbank Funding | 4,160 | 10,278 | 14,438 |
| Help to Claim Grant | – | – | – |
| The Access to Justce | 14,672 | – | 14,672 |
| Mental Health Wellbeing Grant | – | – | – |
| GDF Community Investment Funding | 31,467 | – | 31,467 |
| TWC Covid Grant | – | 33,750 | 33,750 |
| Macmillan | – | 34,114 | 34,114 |
────────── |
────────── |
────────── |
|
| 280,773 | 313,271 | 594,044 | |
══════════ |
══════════ |
══════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| DONATIONS | |||
| Allerdale Borough Council | 26,400 | – | 26,400 |
| Workington Town Council | 5,000 | – | 5,000 |
| Maryport Town Council | 1,000 | – | 1,000 |
| Wigton Town Council | 500 | – | 500 |
| Keswick Town Council | 500 | – | 500 |
| Parish councils | 1,530 | – | 1,530 |
| Donatons received | 3,878 | – | 3,878 |
- 18 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. DONATIONS AND LEGACIES (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| GRANTS | |||
| Cumbria County Council - Money Advice Grant | 66,570 | – | 66,570 |
| Citzens Advice Grants | 43,642 | – | 43,642 |
| Cumbria County Council - Cost of Living Support Funds | – | – | – |
| Other Grants received | 21,500 | – | 21,500 |
| Cumbria County Council - Poverty Grant | – | – | – |
| MAPS Financial Inclusion Project | – | 79,754 | 79,754 |
| Hadfeld Trust | 5,000 | – | 5,000 |
| Pension Guidance | – | 85,151 | 85,151 |
| Cumbria Community Foundaton | 12,000 | – | 12,000 |
| Energy Grants | – | 27,378 | 27,378 |
| Foodbank Funding | 6,760 | – | 6,760 |
| Help to Claim Grant | – | 25,495 | 25,495 |
| The Access to Justce | – | – | – |
| Mental Health Wellbeing Grant | 34,483 | – | 34,483 |
| GDF Community Investment Funding | – | – | – |
| TWC Covid Grant | – | 33,750 | 33,750 |
| Macmillan | – | 34,925 | 34,925 |
────────── |
────────── |
────────── |
|
| 228,763 | 286,453 | 515,216 | |
══════════ |
══════════ |
══════════ |
6. CHARITABLE ACTIVITIES
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| LAA income | 12,381 | 12,381 | 24,386 | 24,386 |
| Admin fees for managing funding schemes | ||||
| as agent | 3,456 | 3,456 | 34,490 | 34,490 |
──────── |
──────── |
──────── |
──────── |
|
| 15,837 | 15,837 | 58,876 | 58,876 | |
════════ |
════════ |
════════ |
════════ |
7. INVESTMENT INCOME
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest | 1,649 | 1,649 | 42 | 42 |
═══════ |
═══════ |
════ |
════ |
- 19 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
8. OTHER INCOME
| Restricted | Total Funds | Restricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Miscellaneous Income | 92 | 92 | 47 | 47 |
════ |
════ |
════ |
════ |
|
| EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Advice and support | 105,374 | 291,460 | 396,834 | |
| Support costs | 162,923 | – | 162,923 | |
────────── |
────────── |
────────── |
||
| 268,297 | 291,460 | 559,757 | ||
══════════ |
══════════ |
══════════ |
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Advice and support | 81,661 | 288,508 | 370,169 | |
| Support costs | 152,285 | – | 152,285 | |
────────── |
────────── |
────────── |
||
| 233,946 | 288,508 | 522,454 | ||
══════════ |
══════════ |
══════════ |
9. EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE
10. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Actvites | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Advice and support | 396,834 | 155,529 | 552,363 | 518,991 |
| Governance costs | – | 7,394 | 7,394 | 3,463 |
────────── |
────────── |
────────── |
────────── |
|
| 396,834 | 162,923 | 559,757 | 522,454 | |
══════════ |
══════════ |
══════════ |
══════════ |
|
| ANALYSIS OF SUPPORT COSTS | ||||
| Charitable | ||||
| Actvites | Total 2023 | Total 2022 | ||
| £ | £ | £ | ||
| Staf costs | 111,147 | 111,147 | 114,022 | |
| Premises | 27,534 | 27,534 | 22,203 | |
| Communicatons and IT | 5,031 | 5,031 | 1,391 | |
| General ofce | 11,817 | 11,817 | 11,206 | |
| Governance costs | 7,394 | 7,394 | 3,463 | |
────────── |
────────── |
────────── |
||
| 162,923 | 162,923 | 152,285 | ||
══════════ |
══════════ |
══════════ |
11. ANALYSIS OF SUPPORT COSTS
- 20 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
12. NET INCOME
| Net income is stated afer charging/(creditng): | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciaton of tangible fxed assets | 7,940 | 4,582 | |
| Operatng lease payments recognised as an expense in the year | 2,100 | 2,100 | |
═══════ |
═══════ |
||
| 13. | INDEPENDENT EXAMINATION FEES | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examinaton of the fnancial statements | 1,400 | 1,300 | |
| Other fnancial services | 782 | 690 | |
─────── |
─────── |
||
| 2,182 | 1,990 | ||
═══════ |
═══════ |
||
| 14. | STAFF COSTS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 430,891 | 415,709 | |
| Social security costs | 31,056 | 29,045 | |
| Employer contributons to pension plans | 21,216 | 20,173 | |
────────── |
────────── |
||
| 4483,163 | 464,927 | ||
══════════ |
══════════ |
The average head count of employees during the year was 20 (2022: 23).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £81,752 (2022:£83,415).
15. TRUSTEE REMUNERATION AND EXPENSES
The trustees did not receive any remuneration or reimbursed expenses during the current year or previous period.
- 21 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
16. TANGIBLE FIXED ASSETS
| Fixtures and | |||
|---|---|---|---|
| ftngs | Total | ||
| £ | £ | ||
| Cost | |||
| At 1 April 2022 | 82,329 | 82,329 | |
| Additons | 20,836 | 20,836 | |
────────── |
────────── |
||
| At 31 March 2023 | 103,165 | 103,165 | |
══════════ |
══════════ |
||
| Depreciaton | |||
| At 1 April 2022 | 72,266 | 72,266 | |
| Charge for the year | 7,940 | 7,940 | |
────────── |
────────── |
||
| At 31 March 2023 | 80,206 | 80,206 | |
══════════ |
══════════ |
||
| Carrying amount | |||
| At 31 March 2023 | 22,959 | 22,959 | |
══════════ |
══════════ |
||
| At 31 March 2022 | 10,063 | 10,063 | |
══════════ |
══════════ |
||
| 17. | STOCKS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Work in progress | 8,563 | 12,958 | |
═══════ |
════════ |
||
| 18. | DEBTORS | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors | 7,540 | 17,414 | |
| Prepayments and accrued income | 9,114 | 14,734 | |
| Other debtors | 1,042 | – | |
──────── |
──────── |
||
| 17,696 | 32,148 | ||
════════ |
════════ |
||
| 19. | CREDITORS: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 4,109 | 2,347 | |
| Accruals and deferred income | 48,584 | 24,176 | |
| Social security and other taxes | – | 2,343 | |
──────── |
──────── |
||
| 52,693 | 28,866 | ||
════════ |
════════ |
- 22 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
19. CREDITORS: amounts falling due within one year (continued)
Included within accruals and deferred income above is £1,396 (2022: £9,949) being balances of funds held as agent at 31 March 2023. During the year £4,500 was received and £5,567 was paid out by the charity acting as agent.
20. PROVISIONS
| Pensions and | |
|---|---|
| similar | |
| obligatons | |
| £ | |
| At 1 April 2022 | 1,246 |
| Charge against provision | (451) |
─────── |
|
| At 31 March 2023 | 795 |
═══════ |
The provision is from an actuarial valuation given by TPT Retirement Solutions - The Growth Plan as at 31 March 2023. The scheme is classified as a 'last man standing arrangement'. Therefore the charity is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme.
21. PENSIONS AND OTHER POST RETIREMENT BENEFITS
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £21,216 (2022: £20,173).
22. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | |||||||
| At | 1 | April 2022 | Income | Expenditure | 31 March 2023 |
||
| £ | £ | £ | £ | ||||
| General funds | 242,833 | 298,259 | (268,297) | 272,795 |
|||
══════════ |
══════════ |
══════════ |
══════════ |
||||
| At | |||||||
| At | 1 | April 2021 | Income | Expenditure | 31 March 2022 | ||
| £ | £ | £ | £ | ||||
| General funds | 189,097 | 287,681 | (233,945) | 242,833 |
|||
══════════ |
══════════ |
══════════ |
══════════ |
- 23 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
22. ANALYSIS OF CHARITABLE FUNDS (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 1 April 2022 | Income | Expenditure 31 March 2023 |
||
| £ | £ | £ | £ | ||
| Energy Grants | – | 35,407 | (35,407) | – |
|
| Pension Guidance | – | 79,372 | (79,372) | – |
|
| DROs | 2,809 | 5,092 | (2,200) | 5,702 |
|
| Other Grants | – | 10,000 | (10,000) | – |
|
| Foodbank | – | 10,278 | (10,278) | – |
|
| MAPS | – | 81,350 | (81,350) | – |
|
| Macmillan | – | 34,114 | (34,114) | – |
|
| Transforming West Cumbria | – | 33,750 | (33,750) | – |
|
| Help to Claim | – | – | – | – | |
| Cost of Living Support Fund | – | 12,000 | (3,825) | 8,175 |
|
| Energy Efciency Fund | – | 12,000 | (1,165) | 10,835 |
|
─────── |
────────── |
────────── |
──────── |
||
| 2,809 | 313,363 | (291,460) | 24,712 |
||
═══════ |
══════════ |
══════════ |
════════ |
||
| At | |||||
| At | 1 April 2021 | Income | Expenditure | 31 March 2022 | |
| £ | £ | £ | £ | ||
| Energy Grants | – | 27,378 | (27,378) | – |
|
| Pension Guidance | – | 85,151 | (85,151) | – |
|
| DROs | 4,817 | 47 | (2,055) | 2,809 |
|
| Other Grants | – | – | – | – | |
| Foodbank | – | – | – | – | |
| MAPS | – | 79,754 | (79,754) | – |
|
| Macmillan | – | 34,925 | (34,925) | – |
|
| Transforming West Cumbria | – | 33,750 | (33,750) | – |
|
| Help to Claim | – | 25,495 | (25,495) | – |
|
| Cost of Living Support Fund | – | – | – | – | |
| Energy Efciency Fund | – | – | – | – | |
─────── |
────────── |
────────── |
─────── |
||
| 4,817 | 286,500 | (288,508) | 2,809 |
||
═══════ |
══════════ |
══════════ |
═══════ |
- 24 -
Citizens Advice Allerdale
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
23. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Tangible fxed assets | 22,959 | – | 22,959 | |
| Current assets | 303,324 | 24,712 | 328,036 | |
| Creditors less than 1 year | (52,693) | – | (52,693) | |
| Provisions | (795) | – | (795) | |
────────── |
──────── |
────────── |
||
| Net assets | 272,795 | 24,712 | 297,507 | |
══════════ |
════════ |
══════════ |
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Tangible fxed assets | 10,063 | – | 10,063 | |
| Current assets | 262,882 | 2,809 | 265,691 | |
| Creditors less than 1 year | (28,867) | – | (28,867) | |
| Provisions | (1,246) | – | (1,246) | |
────────── |
─────── |
────────── |
||
| Net assets | 242,832 | 2,809 | 245,641 | |
══════════ |
═══════ |
══════════ |
||
| 24. | ANALYSIS OF CHANGES IN NET DEBT | |||
| At | ||||
| At 1 Apr 2022 | Cash fows | 31 Mar 2023 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 220,585 | 81,192 | 301,777 | |
══════════ |
════════ |
══════════ |
||
| 25. | OPERATING LEASE COMMITMENTS | |||
| The total future minimum lease payments under | non-cancellable operatng | leases are as follows: | ||
| 2023 | 2022 | |||
| £ | £ | |||
| Not later than 1 year | 2,100 | 2,100 | ||
| Later than 1 year and not later than 5 years | 8,400 | 8,400 | ||
| Later than 5 years | 15,225 | 17,325 | ||
──────── |
──────── |
|||
| 25,725 | 27,825 | |||
════════ |
════════ |
26. RELATED PARTIES
No transactions with related parties were undertaken, other than remuneration of key management personnel as disclosed in the notes, such as are required to be disclosed under the Charities SORP (FRS 102).
- 25 -