ITIZENS ADVICE LINDSEY REGISTERED IN ENGLAND AND WALES NDER COMPANY NUMBER 04740511 REGISTERED CHARITY NUMBER 1099145 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 TINGLE ASHMORE LTD CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS SHEFFIELD ',1111 11 •Aa)MQXY2* 1811212021 CC•APANIES HOUSE A24 #220 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE Y R ENDED 31ST MARCH 2021 INDEX Page Trustees. Annual Report IndeFendent auditorfs report Statement of finan¢ial a¢ts"vrh"e$ and income and expendrtuR a¢¢ount 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial ststements 13-20 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR END 31ST MARCH 2021 TRUSTEES. ANNUAL REPORT The trustees, who are also the directors for the purposes of company law. present their report and the audited financial ststements for the charity for the year ended 31st March 2021. Objectlves and aims The charity's objects are lo promote any chantable purpose for the Publ￿ benefft by the advancement of education. the protection and preservation of heahh and the relief of poverty, sickness and distress in particular, but without limitats"on, for the benefit of the community ￿ East Lindsey and West Lindsey and surroundin9 areas. Publ1¢ beneflt When reviewing the chartty's obje¢tives and aims, and in planning future acts'vthes, the trustees have onsKlered the Charity Commission's general gU￿ance on public benefit Achievements and perforniance During the year, through generalist advice sen4Kes and projects including both restricted and unrestricted projects. around 4,700 local clients in East and West Lindsey We￿ helped wilh more than 20.400 issues. A further 2,900 quick client conlacts were made. Of Ihose clients who responded to surveys, 97% lound the service easy to a¢¢ess. 88% found a way forward, 100% had a positwe experience. For reslricled funded projects p￿ase see'Note 18. on the accounts. Research and Campaigns During the financial year the charty submitted a range of research and campaign issues to nats.onal Cittiens Advice. Citizens Advice collects evKdence of clients. probkms and uses this to CaMpa￿n for change in national and local policies and setvices. Cityzens Advice has a key role in speaking up for clients, raising ssues brought into the service. ¢ontn"butuig to publt debate and infonning legislat￿. Equality and Diversity The Charity is ¢ommitted to providing a supportive and incluspie cullure for. All those who need their services Staff and volunteers stakehokjers The chanty re¢ognises the positive value of diversrty. promotsng equaltty and faimess. and challenging discrimination. Client, staff and trLsslee profiles a￿ monito￿d to ensure that servKes rpllpr.I Ihp. r.nmmiinity and the ¢harity aims to ensure Sery￿e$ are accessible lo all_ Page 1 ITIZENS A VICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 TRUSTEES. ANNUAL REPORT Financial r•view The results for the year and the financial posrtion of the charitable company are as shown in Ihe annexed financial statements_ Citvzens Advr£ Lindsey has benefited from financial SUPFK)rt from County. Distri¢( Town and Parish Councils during the year and ha$ been su¢¢essful in opening up other avenues of funding from new sources. Thanks go lo all funders for their conts.nued support. Investment policy and objeclives Under the Memorandum and Arti¢les of AssocÈatb)n. the charity has the power to make and hokl investment$ using general funds of the company. Reserves policy The Iruslees have considered the level of reserves that the charity should have. The trustees feel il is prudent lo hold betsveen six and hvelve months operating costs in reserves. We calculate our reserves based on total Unrestricted Funds less Unrestricted Fixed Assets. Based on the 2021r22 projected budget expenditure the reseNes required to meet the policy would equate to between £515.725 and £1.031.451. Our actual reserve$ at 31st March 2021 were £751.689 {note 17). The trustees are satisfied with the FX)sition. Fundralsing standards Information The charity had no significant fundraising ac1ivrt￿S this year. Priorities and plans for future periods To ensure the charity is fulty informed about strategic priorities, ¢onsultstion is held with internal and extemal stskeholders and performance rev￿wed. ConsultatK)n is held with the National Citizens Advice lo ensure plans are aligned to the WKler Citizens Advice SeM¢e Strategy. An analysis of client and communty profiles. advice r￿d5 anatysts as well as an asse$sment of Client sab'sfaclion is cairied out to ensure servws are client Centred. For example. the advice needs analysis shows that clients across both districts have diffiCutt￿S in accessing face-l￿faCe serv￿5 due to the sparse and rural nature of the dislrKts and the associated transwrt difficulknes. This informs our fvlure prioritie$". Increase access and meet the needs of rurdlly Isolated and vulnerable groups in our ¢ommunities. 2. To become a more effectlve, efficient and sustalnable organisation. In addib'on, the situation wth COV￿19 require the ch￿lty to conswjer re￿ted challenges and key nsks. both in the immediate term and a150 in the longer tem. Page 2 ITIZENS ADWCE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 TR TEE ' ANNUAL REPORT Structure, goveman¢e and management Governlng document The Charity is controlled by ts goveming dcKumenL a deed of trusL and constitutes a limited company, limited by guarantee. as defined by the Companies Act 201￿. Citizens Advice Lindsey is a company limrted by guarantee govemed by its Memofandum and Arbcles of Association dated 22nd April 2003. as amended 21st March 2018. It 15 registered a5 a charty with the Charity CommissK)n. The members of the company have agreed to contribute £1 each in the event of the chanty wnding up. The company was previously named East Lindsey Cibzens AdvKe Bureau and changed name on 20 December 2018. The trustees are responsible for ensuring risks are managed effectively. Major risks are reviewed and systems andlor procedures established to manage those risks with a kssons leamt approach. The risk management arrangements in¢lude but a￿ not limited to a risk management strategy. a comprehensNe business continuity plan and robust performance and quality management, financial management, information risk management, ICT management. health & safety and premises management. The trustees sel the pay policy which sets (Mrt pay and conditions for key man￿erneAt and ernpk)yees. The trustees are commrtted to ensuring the pay system operates as effectively. efficienuy and as equitably as possible. Recruitment and appointment of new trust•es The directors of the company are also charty trustees for the purpose of Charity law and under the company's Articles and may be co-opted dunng the year andlor e*led at the Annual General Meebng. The Trustee Board has ￿gard to the requ7￿ment for any specialist skills when considering new trustees. In an effort to maintain a broad skill mix. members of the Trustee Board are requested to provide a list of their skills and in the event of particular skills being lost due io felirement or resignalion a recruilmenl Pfo¢ess is launched and Indiv￿UalS wrth the required skills are invited to appty for the positK)n of trustee. Induction and tralning of new trustees New Iruslees are invited and encouraged lo attend a short training prryramrne to familiarise themselves with the charty and the context within which rt operates. These cover. Indu¢lion, ethos and hislory of Cibzens Advice. The obligations of trustees. The main documents which set out the operational fraML￿Ork for the charity. including the MemorarKlum and Articles of Association and the Membership Standards operated by Citizens Advice including those for quality assurance. Financial resourGe5 and the Current financial positson as set out in the latest published accounts and the latest management accounts. Future plans and obJ'e¢ttves of the charity Oryani$•tionil structurn The charity trustees meet a minimum of four times a year and are responsible for detemiining the strategic direction of the charity and that the chanty is compliant with ¢ompany law, charity legislation and Citszens Advice Memtership Standards. The Trustee Board delegaie the day-tTrday respmsib'lrty for the operational aspects of the charity to the Chief Officer who ensures that the charity delivers the Serv￿eS specified and that key performance indicators are met. Page 3 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST MAR H 2021 TRUSTEES, ANNUAL REPORT Structurni gov•rnan¢• and management (continued) Board review The Trustee 8oard appraises and ￿ViewS tis own performance and thal of individual trustees, including the chair. Such evaluation typically consKlers the 8oard's balance of.. Skills, knowledge and experience including lived expenence Attendanee al and part¢cipalion in meetings Its diversity in the w￿e$l sense How the board works together Influen¢ing on behalt of the eharty Other factors relevant to ils effectiveness The trustee board appraises and reviews its Ferformance quartety and annualty. Slatement of internal conlrol The Trustee Board ovetsees the infomiation security of all personal infomiation of clients. staff. funders and strategic partners that is processed. The charity holds joint ￿sponsIbl11ty for client dats that is held in the case management system with the national Cib'zens Advice Service. An infomialion assurance management team exists to ensure the confidentiality, integrity and availabilty of all personal and sensrtNe dats is maintained lo a level which is compliant with the requirements of the General Data Protection Regulati¢)n and Data Prole¢b"on Act 2018. Reference and admlfilstratlve detalls Name and registered office Citizens Aifvice Lindsey Guiklhall. Marshall's Yard. Gainsborough, DN21 2NA Charity number 1099145 Company number 04740511 Our advisors.. Auditors Tingle Ashmore Ltd Charte￿d A¢¢ountsnts and Statutory Auditors Enterprise House. Broadfield Court. Sheffield. S8 OXF Bankers Lloyds Bank Lumky Road, Skegness, PE25 3LP Nationwde Building Society Kings Park Road, MOU￿On Park, Northampton. NN3 6NW Trustees and directors Joy Hamillon Clthvs {Chair) Derek Isles IVi¢e Chairl Catherine Connell (Treasurer) Lynda Jean Crosby Kathryn Laverack Heather Ann Brown Stephanie Mary Challinor Stephen John Beard - Co-opted 1012121 - co-opted 1818121 - resigned 3113121 Principal Staff Jenny Bamett Paul Burrows Thomas Hutchesson - Chief Officer - Operations Manager - Service Delivery Manager Page 4 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 TRUSTEES. ANNUAL REPORT Tru$tees' R•sponsibiliti•s The trustees (who afe also directors of Citizens Advice Lindsey for the purposes of company lawl are responsible foi preparin9 the Trustees. Annual Rewjrt and the financial statements in accordance with applicable law and United lQngdom Accounting Standaftls (Untled Kingdom Generally Accepted Accounts'ng Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair v¢ew of the state of affairs of the charitsble company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company lor that period. In preparing these financial stalements. the trustees are required to.. select suitable accounting policies and then appty them consistenlty. obseThe Ihe methods and pnneiptes in the Charitses SORP 2019 IFRS 102)," make judgements and estimates that are reasonable and pruden( slate whether applicable UK Aecounting Standards have been folh)wed. subject to any malerial departures dis¢Josed and explained in the financial $tstemenl$', prepare the financial statements on the going con￿rn basis. unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting ￿ordS that disckjse with reasonable accuracy at any time Ihe financk31 position of the charitsble company and enable them to ensure that the financial statements Comply with the Compan￿$ Act 2¢XkS. They are also responsible for safeguafding the assets of the charitable company and hence for taking reasonable sleps for the p￿veftt￿n and detection of fraud and other irregularitie5. In so far as the trustees are awa￿. there is no relevant audit information of which the charitable eompanls auditor is unaware. and the trustees have taken all steps that they ought lo have taken to make themselves aware of any levant audit infomiation and to estsblish that the auditor is aware of thal informat￿n. Small company provlslons This report has been prepared taking advantage of the small companies. exemptson of stttion 415A of the Companies Act 20C6. Signed on behalf of the Trustees Joy Hamilton Clews. Chair of Trustees Oated . Page 5 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST MARCH 2021 INDEPENDENT AUDITOR'S REP RT TO THE MEMBERS OF CITIZENS ADVICE LINOSE Opinion We have audited the financial Statements of Citizens AdvKe Lindsey (the 'charitable company,) for the year ended 31 st March 2021 which comprise the Statement of Financial Activities and Income and Expenditure Account. Balance Sheet, Statement of Cash Flows and notes to the financkgl statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounbng Standards. including Financial Reporting Standard 102 The Financial Reporting Standard appl&ible in the UK and Republie of Ireland (United Kingdom Generalty A¢¢epled Accounts'ng Practice). In cmjr opinion the financial statements give a true and fair view of the slate of the ¢haritable companYs affairs as at 31st March 2021, and of its incorning resources and applicat￿)n of resour￿, including rts income and expenditure. for the period then ended.. have been property prepared in a¢¢ordan¢e vth Unrted lQ"ngdom Generalty Accepted Accounting Practice.. and have been prepared N) accordance with the requKements of the Companies Act 20C*. Basis for opinion We condueled our audit in a¢¢ordan¢e wilh Intemal￿n4I Standard5 on Auditing (UK) (ISAS IUKI} and applicable law. Our responsibilities under those slandards are futher described in the Audttorfs iesponsibililies for the audit of Ihe financial statements seCt￿n of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial stalemenls in the UK, including the FRC'S Ethi¢al Standard. and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit evidence we have obtained is Suff￿lent and appropriate to prowde a basis for our opinion. Conclusions relaling lo going concem In auditing the financial statements. we have concluded that the trustees, use of the goin9 concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not Mlentified any material uncertainties relating lo events or conditions that. individualty or ¢ollectivety, may cast s￿nIficant doubt on the charitable company's ability to continue as a going concern for a period of at leasl tsvefve months from when the financial slaternenls are authorised for issue. Our responsibilitses and the ￿SPOnsibl1rtl8¥ of the trustees wth respect to goin9 concem are described in the relevant sect￿n5 of this reF#)rt. Other infomiation The other information comprises the infomiats.on included in the Twstees Annual Report. other than the financial statements and our auditor's report Ihereon. The trnstees are responsibk for Ihe other information contained within the annual ￿pOrl Our opIn￿n on the financral statements does not cover the olhei information and. except to the extent olherwise eXp1K￿Y ststed in our report, we do not express any form of assuranee conclusion Ihereon. Our responsibilty is to read the other information and. in doing SO, consKler whether the other infomiation is materially inconsislenl ￿th the financial statements or our knowledge obtained in the course of the audrt or otheMse appears to be materially misstated. If we identify such material inconsislenc*s or apparent material misstatements. we are required lo determine whether this gives rise lo a material misststemenl in the financial statements themSe￿e$. If, based on the work we have performed, we conclude that the￿ is a material misslatement of this other infomialion, we are required lo report Ihal facl. We have nothing to report in this regard. Page 6 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE Y R ENDED 31ST MARCH 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CITIZENS ADVICE LINDSEY Oplnlons on other matters prescrlbed by the Companies Act 2006 In our Opin￿￿. based on the work undertaken in the course of the audrt.. the infomiation given in the Trustees. Annual Report lincorForats"ng the Directors. Report) for the financ￿1 per￿1 for which the financial statements are prepared is consistent the financial statements.. and the Oirectors. Report has been prepared in accordance with applicable legal requirements. Matters on whl¢h we •r¢ rtyuir¢d to report by exceptlon In the Sghl of our knowledge and understanding of the charitable company and ils environment obtained in the course of the audit. we have not identified material misslatements in the ￿'[eCtOrS. Report. We have nothing lo report in respect of the follwng matters in relation lo whth the Companies Act 2CN)6 requires us lo report lo you if. in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by u5. or the financial statements afe not in agreement vthh the accounb'ng records and retum$'. or certain disclosures of dire¢tors' remuneration spectfied by law are not made,. or we have not received all the informatson and explanab.ons we require for our audtr, or the Trustees were not enlided lo prepare the financial statements in accordance with the small companie5, regime and lake advantage of the small companies exempts'ons in preparing Ihe directors. report and from the requirement to prepare a strategK reporL Responsibilities of Trustees As explained more fully in the Trustees. responsibrfities statement sel out on page 5. the Tnjstees (who are also the directors of the charitable company for the purp)ses of company law) are responsible for the preparation of the financial statements and for being satssfied that they give a true and fair view. and for such internal control as the Trustees detemine is necessary to enable the preparation of financial statements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial statements, the Trustee5 are respon$it)le for assessing the charitable companvs ability lo conbnue as a going concern. disclosing, as applKable. matters related to going concem and using the going concem basis of accounting unless the Trustees either w)tend to IiquKJale the charitable company or to ¢ease operations. or have no realistic alternatwe bLrt to do so. Auditorf$ re$pon$ibilitles for Ihe audlt of the financlal statemgnts Our objectives are lo obtain reasonabk assurance about whether the fu)ancial statements as a whole are free from material misstalemenl whether due lo fraud or error. and to issue an audilorfs report that includes our opin￿n. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will a￿ayS detect a material misstatement when it exists. Misstatements Can arise from fraud or error and are considered material if. indNidually or in the aggregate, they could reasonabty be exFected to influence the economt decisions of users taken on the basis of these financial statements. Irregulanties, including fraud. are instances of non-compliance with laws and regulations. We de5vJn procedures in line with our responsibilities, ouuined al)ove, to detect matenal misstalemenls in respect of irregularities, including fraud. The specific procedu￿ for this engagemenl and the extent lo which these are capable ol detecting irregularities. including fraud is detailed belw_ P&Je 7 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE Y R ENDED 31ST MARCH 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CITIZENS ADVICE LINDSEY Based on our understanding of the chanty and the environment in wh￿h it operates we iden1rf￿j that the principal risks of non-compliance wilh laws and regulabons related to empkjyment law and regulations and we considered the extent lo which nonJnised in the year. All income and expenditure derive from conbnuing acti¥it*s. Page 10 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 LANCE SHEET Notes 2021 2020 Fixed assets Tangible assets Investment propety 13 14 137,044 75.000 144.001 80,000 212,044 224.001 Current assets Debtors Cash at bank and on hand 15 42.102 827,012 32,443 653.642 869,114 686,085 Creditors - amounts falling due within one year 16 59.234 20.825 Nel Current assets 809.880 665,260 Net assets £1.021.924 £889,261 The funds of the charity.. Restricted fund5 18 191,487 154.014 Unrestricted funds 18 830,437 735.247 Total lunds 17 £1.021,924 £889,261 These accounts have been p￿Pared in accordance with the prowsions appltcable lo ¢ompanies subject lo the small companies. regime. These financial statements We￿ approved and authorised for issue by the Board on ...... and are signed on Iheir behalf by Joy Hamilton c￿￿. Chair of Trustees Company number.. 04740511 Page 11 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 STATEMENT F CASH FLOWS Totsl funds Total funds 2021 2020 Cash flows from operating acIN1￿eS.. Nel cash provided by operating aetivitres 164.938 8.006 Cash flows from investing.a¢tNibes" Divhdends, interest and rent from investrnents Other interest ￿e1Ved and simiLar income Purchase of tangible fixed assets 8,263 169 704 17,464) Net ¢ash provided by investing activities 8,432 1,240 Change in cash and cash equivalents in the year 173,370 9.246 Cash and cash equivalents at the beginning of the year 653,fA2 644,396 Cash and cash equivalents at the end of the year £827,012 £653,642 Cash and cash equivalents consists of. Cash at bank and on hand £827,012 £653,642 Reconeilialion of nel income to net cash flow from opeiating aclivilies.. Net income for the year 132,663 66.748 Adjustments for. Depreciation charges Dividends, interest and rent from investrnents Other interest receivable and similar income Increase in debtors Increasel{decreasel in Credttors Net loss on revaluation of investment property 6,957 18.263) 1169) 19,659) 38,409 5,000 6.473 18.0001 1704) 126,3551 130.1561 Net ¢ash provided by operating activrt￿s £164.938 £8.01 Page 12 ITIZEN ADVICE LINDSEY FINANCIAL STAT NTS FOR THE YEAR ED 31ST MARCH 2021 NOTES T THE FINANCL4L STATEMENTS General informabon The charity constitutes a public benefft entity, as defined by FRS 102. a private company limited by guarantee, registered in England and Wales. and a registered charity in England and Wales. In the event of the charity being wound up. the liability in respect of the guarantee is limited lo £1 per member of the Charity. The address of the registered office is gNen in the charity informalion on page 4 of these financial statements. 2 Statement of complkqnce These financial stslemenls have been prepared in accordance with Accounting and Reporting by Chafrties". Statement of Re¢ommended PractKe applicable to ¢harilEs preparing their a¢¢ounls in accordance with the Financial Reporting Stsndard application in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard appli¢able in the UK and Republ￿ of Ireland IFRS 1021, the Charities Act 2011, Companies Act 20C6 and UK Generalty Accepted Accounling Practice. 3 Accounting poli¢ies Basis of Preparation The financial statements are prepared on a going concem l)asis under the historical cost convention. as modified by the revaluation of inveslmenl properties measured at fair value. The financial stslemenls are presented in sterling which is the functijnal currency of the charty. Going concern The financial ststements have been prepared on a gow)g concem basis as the Iruslees believe that no material uncertainties exist. The trustees have eonsidered the level of funds held and the expected level of income and expendrture for 12 moths from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able lo continue as going concem. Income recognition All incoming resources are included in the stslemenl of financial activities when entitlement has passed to the chanty, it is probable that the economic benefils associated wrth the transaction wsll flow lo the charity and the amount can be reliably measured. The follow.ng specific policies are applied lo Part￿Ular categories of irt¢ome". income from donations or grants is recognised when there is evidence of entitlement lo the gift, receipt is probable and ils amount can be measured reliabty. lega¢y in¢ome is recognised when receipt is probable and entsllement is establishetj. income from donated qoods 15 measu￿¢ al the fair value of the goods unless this 18 imprArtirHI In Measu￿ reliably, in whKh case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilits.es and services are recognised in the accounts when re¢eNed rf the value Can be ￿lL9b￿ measured. No amounts are included for the ￿ntribUtIOn of general volunteers. income from contracts for the supply of servi￿$ is recognised wrth the delivery of the ¢ontra¢ted servtt. This is classthed as unreslricted funds unless there is a contractual requirement for it lo be spent on a part￿ular purpose and relumed if unspent. in whth case it may be regarded as restricted. Page 13 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR NDED 31ST MARCH 2021 NOTES TO THE FINANCIAL STATEMENTS 3 Accounting policies l¢onlinued) Expenditure reccgnitKin Expenditure is recognised on an accrual$ basis as a liabilty is incurred. Expenditure includes any VAT which eannot fully be recovered, and is classified under headings of the Statement of financial activities to which il relates_. expenditure on raising funds include the Costs of all fundraising activities. events. non4haritable trading activities. and the sale of donated gocmls. expenditure on Charitable activ￿e$ includes all wsts in¢urred by the charity in undertaking actwities that further its charitable aims for the benefit of ils beneliciaries. including those support costs and costs relating lo the govemance of the charty apportioned to charitable activities. other expendilure in¢ludes all expenditure that is neither ￿lated to raising funds for the charity nor part of it5 expendrture on charitable aclivib"es. All costs are allocated to exFenditure categories refiecting the use of the resource. Diwl costs attribvlable lo a Sing￿ acts.vity are allocated dire¢Uy to that ackn"vty. Shared costs are apportioned between the activities they contribute lo on a reasonable. justifiable and consislent basis. Oefined benefit Fension contributs'ons Contn'butions to defined ¢ontribution plans are re¢c#3nised as an expense in the period in which the related seryice is prov￿ed. Accrued Holiday Pay Provision is made at the balance sheet date for hohdays accrued but not taken, at the salary of the relevant employee al thal dale. The expected cost of compensated short-tem absence li.e. holidays) is charged to Ihe SOFA on an accruals basis. Taxabon The charity is a registered charty and as such is not liab￿ to Cor[￿b"On tsx on its income to the exlent that its income is used for Charitable purposes. Tangible fixed assets and depreciation Tangible assets costing over £2.000 are initialty recorded al cost. and subsequently stated at cost less any accumLtlated depreciation and impaimient losses. Depreciation is Calculated to write off the cost or valualion of an asset, less ils residual value, over the useful economic life of that asset. The depreciation rates used are as follows" Freehold property 2% straighl line Plant and machinery 33% slravJht line Property improvements - 2% straight line Investment properties Investment properties fof wh￿h fair value can be measured ￿lIab￿ without undue cost or effort a measured al fair value al each ￿p0rknng date with Changes in fair value recognised in the statement of financial aclivitses. Debtors Trade and other debtors are recognised at the seltlement amount due after any discount offered. Page 14 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 NOTES TO THE FINANCIAL STATEMEN 3 Accounting poticies l¢ontinued) Creditors Creditors are recognised when the charity has a present Obl￿al￿)n resutbng from a pasl event that will probably result in the transfer of lunds to a third paty and the amounl due to settle the obligats.on Can be measured or esb'rnated oliabty. Creditors are nomally recognised at their setuement amoLtnl after allowin9 for any trade discounts due. Fund accounting UnreslTicted funds are available for use at the discretion of the trustees in furtherance of the general objeclNes of the charity. unless they have teen designated for other purposes. D¢s￿nated fvnds are unreStr￿ted funds eatmarked by the tfU5tees for particular future proJe¢ls or commitments. Restricted fvnds are fvnds which are to be used in accordance wth specifK restrictions imposed by Ihe donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fvnd 15 Set out in the notes to the financial statements. Unrestr￿ted funds Restricted fvnds Total funds 2021 Total funds 2020 4 Donats'on5 and ￿8¢le5 Donations Legacies 3.569 3,569 27,335 23,932 £3.569 £3,569 £51,267 S Charitable a¢tiwties LCC ELDC WLDC Crtizens Advice.. Consumer sery￿e$ Funding Help to Claim Help to Claim National Call Centre BEIS Trussell Trusl EMMA ELDC Homelessness Prevention Coastal Advice T.E.D. Project HMRC Lincolnshire Community Foundation Miscellaneous 80.282 55.6(hJ 60,200 80,282 55.600 60,200 80,282 56.691 60.200 343,759 68,294 91,703 45.102 62.323 117.357 20.000 14,285 27.217 57.000 10.000 343.759 68.294 91.703 51,102 62,323 117.357 20,000 14,285 27.217 57,000 10.000 220.286 74.907 83,927 100,762 20.000 5,038 27.959 478 £202,082 £657,040 £1.059.122 £730,530 Page 15 CITIZENS ADVICE LINDSEY FINANCIAL STAT NT R THE Ya4R ENDED 1ST MARCH 2021 NOTES TO TH FINA IAL STATEMENTS Unrestricted fvnds Restricted funds Total fund5 2021 Total funds 2020 6 Investment income Income from investment properties Deposit account interest 8.263 169 8,263 169 8.000 704 £8.432 £8,432 £8.704 Investment management eosts Propety repairs and maintenance charges £216 £216 £216 8 Costs of charitable activities by fvnd type Advice and information services Goveman¢e ¢osts 124.070 3.144 804.310 1.720 928,380 714.826 .711 £127,214 £8C6.030 £933,244 £723,537 9 Classificali?n of resources expended Wages and salaries Other staff and volunteer costs Premises costs Office costs Communications IT Partner payments Consultancy Publicity and promotion Trustee expenses General expenses Legal and professional fees Bank charges Depreciatson 693,859 18,669 67.331 42.782 29.627 36.094 12.700 17,709 67 232 13 6,921 283 6.957 545,537 21.735 67.780 26.694 20,985 11.626 12,700 245 7.867 211 6,473 £933,244 £723,537 10 Net income for the year This is $tsted after charging-" Depreciation Audilorfs remuneration (Tingle AShm0￿ Ltd) 6,957 3,030 1.350 6.473 - audr( . ac￿VnIancY Independent examinerfs remunerab.on {Darbys) 1,800 Page 16 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR TH ND 31ST MARCH 2021 NOTES TO THE FINANCIAL STATEMENT 2021 2020 11 Analysis of staff costs. trustee remuneration and expenses. and cost of key management personnel Wages and salaries Employerfs national insurance Pension costs 648,423 35.821 9.615 509,460 28,135 7,942 £693.859 £545,537 The average number of employees during the year was 4212020 - 33). No employees had employee benefits in excess of £60.01)O bn erther year. The key management personnel of the chanty comprise the trustees, the Chief Executive Offi"cer, Operations Manager and Head of Service Delivery. The total employee benefits of the key management personnel were £101.35612020- £77.7661. The trustees were not paKI or received any Other benefits from employment wth the charity in either year. During the year. travel expenses of £232 (2020- £844) were paKI to 2 (2020 - 41 trustees. 12 Related party transactions There were no related party transactions requiring disclosure in either year. 13 Tangible assets Freehold property Property improvements Plant arbd machinery Total Cost As al 1st April 2020 and at 31 st Mar¢h 2021 198.949 24.482 67.903 291.334 Depreciation As at 1s1 April 2020 Charge for the year 61.674 3.979 23.216 490 62,443 2,488 147,333 6.957 As at 31 st March 2021 65.653 23.7C6 64.931 154.290 Nel book value A5 at 31st March 2021 £133,296 £776 £2.972 £137,044 A5 at 31s1 March 2020 £137.275 £1.266 £5,460 £144.001 Page 17 CITIZENS AOVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 TES TO THE FINANCIAL STATEMENTS 14 Investment propety Fair value at 1st April 2020 Revaluation 80.000 15.000) Fair value al 31st March 2021 £75.000 The investment propety was valued at £75.000 N) October 2021 by an independent and professional valuer. In the opinion of the trustees. the propervs fair value at 31st March 2021 was £75.000. 2021 2020 15 Debtors Trade debtors Other debtors and prepayments 34.038 8,064 27,167 5.276 £42,102 £32,443 16 Creditors- amounts falling due within one year Trade creditors Taxation and scKial security Accnjals and defe(red income Other eredilors 6,01S 7.211 7.599 12,610 14,098 24,860 £59,234 £20,825 17 Total funds Fund balances at 31 st March 2021 are represented by'.- Unrestricted funds Reslricled funds Total funds Fixed assets Nel Current assets 78.748 751.689 133,296 58,191 212.044 809.880 Nel assets £830.437 £191.487 £1.021.924 Prior year comparison Fund balances at 31st March 2020 wefe represented by.'- Fixed assets Nel current assets 86,726 648,521 137,275 16,739 224.001 665.260 Net assets £735.247 £154,014 £889.261 Page 18 CITIZENS ADVICE LINDSEY FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST MARCH 2021 NOTES TO THE FINANCIAL STATEMENTS 18 Income fvnds Balance at 1stApr 2020 Movement in resources Incoming Oulgoing Transfers betr￿￿ funds Balance al 31st Mar 2021 Restricted fvnds Freehold propety Citizens Advi¢e.' Consumer Services Funding Help to Claim Help to Claim National Call Centre BEIS Trussell Trust EMMA ELDC Homelessness P￿vent￿n Coastal Advice T.E.D. Project HMRC Lincolnshire Communty Foundats"on 137.27S 13.9791 133,296 16,739 343,759 68,294 {311,1181 (67,1311 49,380 11,163) 91,703 45.102 62,323 117.357 (91,7031 (45,1021 (49.9491 (117,3571 (12.374) 20,(W) 14,285 27.217 57,000 (20,0001 (14.2851 127,2171 148,1891 8.811 10.000 110.¢)001 Total restricted funds 154.014 857,040 (8C6.0301 113,5371 191,487 Unrestricted funds General funds 735.247 214,083 (132,430) 13.537 830,437 Total funds £889.261 £1.071,123 938.4601 £1.021,924 Prior year comparison 8aLanee at 1slApr 2019 Movement ￿ resources Incoming Outgoing Balance at 31sl Mar 2020 Restricted funds Freehold propety Consumer Services Funding EMMA ELDC Homelessness Prevention T.E.D Project Help to Claim Wet¢hal and Face to Face Help to Claim National Call Cenl Coastsl Advice 141.254 11.591 13,9791 {215,2361 1100,7621 120,0001 127,9591 174,9071 183,9271 15,0381 137,275 16,739 220,384 100.762 20.000 27,959 74.907 83.927 5.038 Total restricted funds 152,845 532.977 1531.808 154,014 Unrestricted fvnds General funds 669.668 257,524 1191,945) 735.247 Total lunds £822,513 £790.501 £1723.7531 £889.261 Page 19 CITIZENS ADVICE LINDSEY FINAN IA TATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021 NOTES TO THE FINANCIAL STATEMENTS 18 Income funds Iconts'nued) Purpose of reslricled funds Freehokl property- Restricted funds provided for the aCqutsrt￿n of the freehold propety. Consumer Service - Provide advice and infomiation on contracts for goods and services before. during or after purchase, including legislation or industry regulab.ons and practical guKlan¢e. Offer advice about On line scams. Money Advice Service - To provrde advKe and casework to clients who have stgnificant debt issues. In¢luding help with priority and non priorty debts. East Lindsey Oislricl Council Homelessness Preventton- To provide support to local residents with housing issues, including prevenling homelessness and assisting those that are homele55 to access accommodation. Talk Eat Drink ITEDI Project - Deliver advrce to over 50s including maximising their income and assisting them to feel better connected. positNe at*)Ut their opportunities and less isolated. Universal Credit Help to Claim - To supports clients in the earty stages of their Universal Credit claim, from the application. through to firsl payment includin9 SUPPOrt with gathertn9 evmjence for their Universal credit application. Universal Credit Help to Claim National Call Centre- To supwrts clients in the earty stages of their Universal Credit daim, from the application. through to first payment including support with gathering evidence for their Universal credit apPI￿allOn. Coastal Advice - To provide adV￿e and casework. predominantly welfare benefits. for vulnerable and disabled clients along the waslal areas of Skegness and Mablethorpe. HMRC - To provide advice and support to ¢u$tomers vtho need extra help LFnderstandirvJ and complying with their tax obligatKsns and claiming their enlrtlements. Tfussell Trust Food Bank - To provTde help for people who cannot afford fc*)d and help them get an e voucher for a local fcojd parcel whilst providing infomation and advice on the issues that are causing fi.nancial hardship. Lincolnshire Community Foundation - To provide advKe and SUPFX)rt lo the residents of Mablelhorpe and Sutton on Sea. particutarty around Covid 19 recovery. 8EIS - T0 5UPPQrt delivery of Advice Line single Queue and to purchase remote working equipment. 19 Prior year comparatives The breakdown of the 2020 statement of financial acb"vrtEs be￿n unrestricted and restricted funds is as follows.. Unrestricted funds Restricted funds Total funds 2020 Income from.. Donations and legacies Charitable aclivrties Investment income 51.267 197,553 8.704 51,267 730.530 8,704 532,977 Total income 257.524 S32,977 790.501 Expenditure on.. Raising funds.. Investment management Costs Charitsble activities 216 191.729 216 723.537 531,808 Total expendrture 191.945 531.808 723,753 Net income for the year £65.579 £1.169 £66.748 Page 20