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2023-03-31-accounts

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Company registration number: 04740511 Charity registration number: 1099145

Citizens Advice Lincoln & Lindsey

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 March 2023

Forrester Boyd Auditor Waynflete House 139 Eastgate Louth Lincolnshire LN11 9QQ

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Statement of Trustees' Responsibilities 6
Independent Auditors' Report 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13 to 25

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey
Reference and Administrative Details
Chair of Trustees Joy Hamilton Clews
Trustees Joy Hamilton Clews
Catherine Connell, Treasurer
Heather Ann Brown, (Resigned 21 September 2023)
Stephanie Mary Challinor, (Resigned 21 May 2022)
Janet Collins, Co-opted
Lynda Jean Crosby
Martyn Robert Heathcote, Co-opted
Derek Isles, (Resigned 3 November 2022)
Kathryn Laverack, (Resigned 25 April 2023)
Simon McCaffrey, Co-opted
Shiv Nand, Co-opted
David Wright, Co-opted (Resigned 27 March 2023)
Senior Management / Jenny Barnett, Chief Officer
Leadership Team Paul Burrows, Operations Manager
Thomas Hutchesson, Service Delivery Manager
Charity Registration Number 1099145
Company Registration Number 04740511
Registered Office Guildhall
Marshall's Yard
Gainsborough
Lincolnshire
DN21 2NA
Auditor Forrester Boyd
Auditor
Waynflete House
139 Eastgate
Louth
Lincolnshire
LN11 9QQ
Bankers Lloyds Bank
Lumley Road
Skegness
Lincolnshire
PE25 3LP

Page 1

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2023.

Objectives and activities

Objects and aims

The charity's objects are to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community in Lincoln, East Lindsey and West Lindsey and surrounding areas.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. When reviewing the charity's objectives and aims, and in planning future activities, the trustees have considered the Charity Commission's general guidance on public benefit.

Achievements and performance

During the year, through generalist advice services, locally and nationally delivered projects including both restricted and unrestricted projects, more than 4,869 (2021/22, 4,820) local clients in East and West Lindsey were helped with more than 25,075 (2021/22, 22,300) issues. In addition 474 local clients in Lincoln were helped with 1,877 issues from 1st February 2023 to 31st March 2023 following a merger between Citizens Advice Lindsey and Lincoln & District Citizens Advice Bureau Limited on the 31st January 2023.

Overall as a service we helped 15,626 (2021/22 12,269) clients with more than 54,503 (2021/22 36,000) issues in our generalist services and through our projects and we achieved more than £6,755,048 (2021/22 £4,901,718) in financial outcomes for clients. A further 5,691 (2021/22 2,800) quick client contacts were made where clients required information or a referral to an external organisation. In addition, in our consumer service we helped with more than 47,311 consumer enquiries.

For information on restricted funded projects please see 'Note 19' on the accounts.

Research and Campaigns

During the financial year the charity submitted a range of research and campaign issues to national Citizens Advice. A key focus was around the cost of living crisis. Citizens Advice collects evidence of clients' problems and uses this to campaign for change in national and local policies and services. Citizens Advice has a key role in speaking up for clients, raising issues brought into the service, contributing to public debate and informing legislation.

Equality and Diversity

The charity is committed to providing a supportive and inclusive culture for:

●All those who need their services

The charity recognises the positive value of diversity, promoting equality and fairness, and challenging discrimination. Client, staff and trustee profiles are monitored to ensure that services reflect the community and the charity aims to ensure services are accessible to all.

Financial review

The results for the year and the financial position of the charitable company are shown in the annexed financial statements.

Citizens Advice Lincoln & Lindsey has benefited from financial support from County, District, Town Councils and Charities during the year and has been successful in securing project funding and opening up other avenues of funding from new sources. Thanks go to all funders for their continued support.

Page 2

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Trustees' Report

Investment policy and objectives

Under the Memorandum and Articles of Association, the charity has the power to make and hold investments using general funds of the company

Reserves policy

The trustees have considered the level of reserves that the charity should have. The trustees feel it is prudent to hold between six and twelve months operating costs in reserves. We calculate our reserves based on total Unrestricted Funds less Unrestricted Fixed Assets. Based on the 2023/24 projected budget expenditure the reserves required to meet the policy would equate to between £1,251,043 and £2,502,086.Our actual reserves at 31st March 2023 were £1,327,272 (note 19). The trustees are satisfied with the position.

Fundraising standards information

The charity had no significant fundraising activities this year.

Priorities and plans for future periods

To ensure the charity is fully informed about strategic priorities for the newly merged organisation, which took place on the 31st January 2023 between Citizens Advice Lindsey and Lincoln & District Citizens Advice Bureau Limited, consultation is held with internal and external stakeholders and performance reviewed. Consultation is held with the National Citizens Advice to ensure plans are aligned to the wider Citizens Advice Service Strategy.

An analysis of client and community profiles, advice needs analysis, as well as an assessment of client satisfaction, are carried out to ensure services are client centred.

This informs our 2023 - 2026 Business and Development Plan and our future strategic aims: 1. Increase access for rurally isolated and vulnerable groups 2. Become more effective and sustainable

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Citizens Advice Lindsey is a company limited by guarantee governed by its Memorandum and Articles of Association dated 22nd April 2003, as amended 21st March 2018 and 21st September 2023. It is registered as a charity with the Charity Commission. The members of the company have agreed to contribute £1 each in the event of the charity winding up.

The trustees are responsible for ensuring risks are managed effectively. Major risks are reviewed and systems and/or procedures established to manage those risks with a ‘lessons learnt’ approach. The risk management arrangements include but are not limited to a risk management strategy, a comprehensive business continuity plan and robust performance and quality management, financial management, information risk management, ICT management, health & safety and premises management.

Recruitment and appointment of trustees

The directors of the company are also charity trustees for the purpose of charity law and under the company's Articles and may be co-opted during the year and/or elected at the Annual General Meeting.

The Trustee Board has regard to the requirement 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 to retirement or resignation a recruitment process is launched and individuals with the required skills are invited to apply for the position of trustee.

Page 3

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Trustees' Report

Induction and training of trustees

New trustees are invited and encouraged to attend a short training programme to familiarise themselves with the charity and the context within which it operates.

This covers:

Arrangements for setting key management personnel remuneration

The trustees set the pay policy which sets out pay and conditions for key management and employees. The trustees are committed to ensuring the pay system operates as effectively, efficiently and as equitably as possible.

Organisational structure

The charity trustees meet a minimum of four times a year and are responsible for determining the strategic direction of the charity and that the charity is compliant with company law, charity legislation and Citizens Advice Membership Standards.

The Trustee Board delegates the day-to-day responsibility for the operational aspects of the charity to the Chief Officer who ensures that the charity delivers the services specified and that key performance indicators are met.

Board review

The Trustee Board appraises and reviews its own performance and that of individual trustees, including the Chair. Such evaluation typically considers the Board's balance of: ●Skills, knowledge and experience including lived experience

Statement of internal control

The Trustee Board oversees the security of all personal information of clients, staff, funders and strategic partners that is processed. The charity holds joint responsibility for client data that is held in the case management system with the national Citizens Advice Service. An information assurance management team exists to ensure the confidentiality, integrity and availability of all personal and sensitive data is maintained to a level which is compliant with the requirements of the General Data Protection Regulation and Data Protection Act 2018.

Page 4

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Trustees' Report

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on .................... 18-Dec-2023 | 16:18 GMT and signed on its behalf by:

(4 ......................................... 8021877963BE45F...DocuSigned by: Joy Hamilton Clews Chair of Trustees

Page 5

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Citizens Advice Lincoln & Lindsey 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), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

18-Dec-2023 | 16:18 GMT Approved by the trustees of the charity on .................... and signed on its behalf by:

(4 ......................................... 8021877963BE45F...DocuSigned by: Joy Hamilton Clews Chair of Trustees

Page 6

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Independent Auditor's Report to the Members of Citizens Advice Lincoln & Lindsey

Opinion

We have audited the financial statements of Citizens Advice Lincoln & Lindsey (the 'charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 7

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Independent Auditor's Report to the Members of Citizens Advice Lincoln & Lindsey

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 6), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Page 8

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Independent Auditor's Report to the Members of Citizens Advice Lincoln & Lindsey

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... 6F058BDA3524485... Adam Millson (Senior Statutory Auditor) For and on behalf of Forrester Boyd , Statutory Auditor

Waynflete House 139 Eastgate Louth Lincolnshire LN11 9QQ 19-Dec-2023 | 00:08 GMT Date:.............................

Page 9

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19
Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
19		 Unrestricted
funds
£
257,786
372,555
11,515
641,856
(295,779)
(295,779)
346,077
47,646
393,723
933,549
1,327,272
Unrestricted
funds
£
8,525
204,477
8,576
1,511
223,089
(534)
(138,912)
(139,446)
83,643
19,469
103,112
830,437
933,549		 Restricted
funds
£
29,214
1,131,226
-
1,160,440
(1,047,087)
(1,047,087)
113,353
(47,646)
65,707
208,845
274,552
Restricted
funds
£
-
900,756
-
-
900,756
-
(863,929)
(863,929)
36,827
(19,469)
17,358
191,487
208,845		 Total
2023
£
287,000
1,503,781
11,515
1,802,296
(1,342,866)
(1,342,866)
459,430
-
459,430
1,142,394
1,601,824
Total
2022
£
8,525
1,105,233
8,576
1,511
1,123,845
(534)
(1,002,841)
(1,003,375)
120,470
-
120,470
1,021,924
1,142,394

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 19.

The notes on pages 13 to 25 form an integral part of these financial statements. Page 10

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

(Registration number: 04740511) Balance Sheet as at 31 March 2023

2023 2022
Note £ £
Fixed assets
Tangible assets 12 125,337 130,087
Investment property 13 75,000 75,000
200,337 205,087
Current assets
Debtors 14 112,685 35,453
Cash at bank and in hand 15 1,398,520 949,548
1,511,205 985,001
Creditors: Amounts falling due within one year 16 (109,718) (47,694)
Net current assets 1,401,487 937,307
Net assets 1,601,824 1,142,394
Funds of the charity:
Restricted income funds
Restricted funds 274,552 208,845
Unrestricted income funds
Unrestricted funds 1,327,272 933,549
Total funds 19 1,601,824 1,142,394

The financial statements on pages 10 to 25 were approved by the trustees, and authorised for issue on 18-Dec-2023 | 16:18 GMT .................... and signed on their behalf by:

(4 ......................................... 8021877963BE45F...DocuSigned by: Joy Hamilton Clews Chair of Trustees

The notes on pages 13 to 25 form an integral part of these financial statements. Page 11

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Statement of Cash Flows for the Year Ended 31 March 2023

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
12
Investment income
5
Working capital adjustments
(Increase)/decrease in debtors
14
Increase/(decrease) in creditors
16
(Decrease)/increase in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
5
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2023
£
459,430
4,750
(11,515)
452,665
(77,232)
62,727
(703)
437,457
11,515
448,972
949,548
1,398,520		 2022
£
120,470
6,957
(8,576)
118,851
6,649
(12,243)
703
113,960
8,576
122,536
827,012
949,548

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 13 to 25 form an integral part of these financial statements. Page 12

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Charity status

The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Guildhall Marshall's Yard Gainsborough Lincolnshire DN21 2NA

These financial statements cover the individual entity, Citizens Advice Lincoln & Lindsey.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Citizens Advice Lincoln & Lindsey 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 notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 13

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Gifts in kind

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised. (ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them. (iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £2,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Page 14

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate Freehold property 2% straight line Plant and machinery 33% straight line Property improvements 2% straight line

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Page 15

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 16

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

3 Income from donations and legacies

Donations and legacies;
Transfer from Lincoln & District Citizens
Advice Bureau Ltd.
Donations from individuals
Gifts in kind		 Unrestricted
funds
General
£
237,770
12,696
7,320
257,786		 Restricted
funds
£
29,214
-
-
29,214		 Total
2023
£
266,984
12,696
7,320
287,000		 Total
2022
£
-
8,525
-
8,525

4 Income from charitable activities

Lincolnshire County Council
East Lindsey District Council
West Lindsey District Council
Consumer Services Funding (including
scams advice)
Trussell Trust/Help through Hardship
Universal Credit Help to Claim
Cost of Living
Thanet
East Midlands Money Advice
ELDC Homelessness Prevention
ELDC Financial First Aid
Coastal Advice
T.E.D. Project
HMRC
DWP Kickstart Scheme
Advice in Mablethorpe & Sutton on Sea
Lincoln and District Citizens Advice Bureau
Ltd.
Energy Advice Programme
Money & Pension Service National call
centre
Pension Wise
Acts Trust
The National Lottery Community Fund
Cadent Energy
ELDC - Household support fund admin fee
WLDC - Household support fund admin fee		 Unrestricted
funds
General
£
80,282
61,200
60,200
-
-
-
-
-
-
-
-
-
-
-
-
-
21,843
5,400
141,179
-
-
-
-
1,250
1,201
372,555		 Restricted
funds
£
-
-
-
381,443
334,342
141,786
30,000
-
118,851
25,000
32,600
-
-
-
-
20,054
-
-
-
725
2,367
33,432
10,626
-
-
1,131,226		 Total
2023
£
80,282
61,200
60,200
381,443
334,342
141,786
30,000
-
118,851
25,000
32,600
-
-
-
-
20,054
21,843
5,400
141,179
725
2,367
33,432
10,626
1,250
1,201
1,503,781		 Total
2022
£
80,282
55,600
60,200
380,941
209,167
153,769
-
8,395
85,439
20,000
16,292
15,677
5,678
(8,811)
7,564
15,040
-
-
-
-
-
-
-
-
-
1,105,233

Page 17

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

5 Investment income

Interest receivable and similar income;
Interest receivable on bank deposits
Income from rents		 Unrestricted
funds
General
£
2,315
9,200
11,515		 Total
2023
£
2,315
9,200
11,515		 Total
2022
£
158
8,418
8,576

6 Expenditure on raising funds

a) Investment management costs

Note
Other investment management costs;
Property repairs		 Total
2023
£
-
-		 Total
2022
£
534
534

7 Expenditure on charitable activities

Wages and salaries
Other staff and volunteer costs
Premises costs
Office costs
Communications
IT
Publicity and payments
Trustee expenses
General expenses
Legal and professional fees
Bank charges
Audit
Other governance		 Unrestricted
funds
General
£
196,409
7,004
24,624
22,776
6,560
27,088
45
140
256
1,826
145
1,548
38
288,459		 Restricted
funds
£
870,542
20,359
64,361
42,530
29,078
10,306
147
364
76
4,744
460
4,022
97
1,047,086		 Total
2023
£
1,066,951
27,363
88,985
65,306
35,638
37,394
192
504
332
6,570
605
5,570
135
1,335,545

Page 18

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

Wages and salaries
Other staff and volunteer costs
Premises costs
Office costs
Communications
IT
Trustee expenses
General expenses
Legal and professional fees
Bank charges		 Unrestricted
funds
General
£
83,594
5,829
17,969
8,116
4,967
16,847
137
2
1,338
113
138,912		 Restricted
funds
£
748,235
20,953
46,967
15,155
22,019
6,410
356
-
3,476
358
863,929		 Total
2022
£
831,829
26,782
64,936
23,271
26,986
23,257
493
2
4,814
471
1,002,841

8 Net incoming/outgoing resources

Net incoming resources for the year include:

Audit fees
Other non-audit services
Depreciation of fixed assets		 2023
£
3,820
2,165
4,750		 2022
£
840
1,350
6,957

9 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

10 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
973,231
72,379
21,342
1,066,952		 2022
£
742,780
45,703
12,417
800,900

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Average number of employees 2023
No
51		 2022
No
46

No employee received emoluments of more than £60,000 during the year.

Page 19

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

The total employee benefits of the key management personnel of the charity were £135,921 (2022 - £123,419).

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Cost
At 1 April 2022
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
13 Fixed asset investments
Investment properties		 Land and
buildings
£
223,431
223,431
93,828
4,266
98,094
125,337
129,603		 Furniture and
equipment
£
21,680
21,680
21,680
-
21,680
-
-		 Computer
equipment
£
67,903		 Total
£
313,014
313,014
182,927
4,750
187,677
125,337
130,087
2022
£
75,000
21,680 67,903
21,680
-		 67,419
484
21,680 67,903
- -
- 484
2023
£
75,000

Investment properties

The investment property was valued at £75,000 in October 2021 by an independent and professional valuer. In the opinion of the trustees, the property's fair value at 31st March 2023 was £75,000.

14 Debtors

Trade debtors
Prepayments
Accrued income
Other debtors		 2023
£
28,248
13,726
70,711
-
112,685		 2022
£
23,452
4,861
3,140
4,000
35,453

Page 20

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

15 Cash and cash equivalents

Cash on hand
Cash at bank
16 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income		 2023
£
-
1,398,520
1,398,520
2023
£
32,206
18,774
44,675
14,063
-
109,718		 2022
£
53
949,495
949,548
2022
£
4,706
14,507
17,203
10,575
703
47,694

17 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £21,342 (2022 - £12,417).

18 Commitments

Other financial commitments

The total amount of other financial commitments not provided in the financial statements was £81,307 (2022 - £50,667).

Page 21

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

19 Funds
Unrestricted funds
General
Unrestricted general funds
Restricted funds
Freehold property
Consumer Services Funding (including Scams advice)
Universal Credit Help to Claim
Trussell Trust/Help through Hardship
ELDC Homelessness Prevention
ELDC Financial First Aid
Advice in Mablethorpe and Sutton on Sea
Acts Trust
The National Lottery Community Fund
Cadent Energy
Cost of Living
Justice Fund
Independent Funders
East Midlands Money Advice
Pension Wise
Staff Meals
Staff & Volunteer Celebrations
Total restricted funds
Total funds		 Balance at 1
April 2022
£
933,549
129,317
79,528
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
208,845
1,142,394		 Incoming
resources
£
641,856
-
381,443
141,786
334,342
25,000
32,600
20,054
8,359
33,432
10,627
30,000
8,800
2,017
118,851
12,840
279
10
1,160,440
1,802,296		 Resources
expended
£
(295,779)
(3,979)
(377,689)
(141,786)
(286,696)
(25,000)
(32,600)
(20,054)
(7,259)
(11,232)
(7,084)
-
-
(2,017)
(118,851)
(12,840)
-
-
(1,047,087)
(1,342,866)		 Transfers
£
47,646
-
-
-
(47,646)
-
-
-
-
-
-
-
-
-
-
-
-
-
(47,646)
-		 Balance at 31
March 2023
£
1,327,272
125,338
83,282
-
-
-
-
-
1,100
22,200
3,543
30,000
8,800
-
-
-
279
10
274,552
1,601,824

Page 22

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted funds
General
Unrestricted general funds
Restricted
Freehold property
Consumer Services Funding (including Scams advice)
Universal Credit Help to Claim
Trussell Trust/Help through Hardship
East Midlands Money Advice
ELDC Homelessness Prevention
Coastal Advice
T.E.D. Project
HMRC
ELDC Financial First Aid
DWP Kickstart Scheme
Advice in Mablethorpe and Sutton on Sea
Total restricted funds
Total funds		 Balance at 1
April 2021
£
830,437
133,296
49,380
-
-
-
-
-
-
8,811
-
-
-
191,487
1,021,924		 Incoming
resources
£
223,089
-
380,941
153,769
209,167
85,439
20,000
15,677
5,678
(8,811)
16,292
7,564
15,040
900,756
1,123,845		 Resources
expended
£
(139,446)
(3,979)
(350,793)
(153,769)
(189,698)
(85,439)
(20,000)
(15,677)
(5,678)
-
(16,292)
(7,564)
(15,040)
(863,929)
(1,003,375)		 Transfers
£
19,469
-
-
-
(19,469)
-
-
-
-
-
-
-
-
(19,469)
-		 Balance at 31
March 2022
£
933,549
129,317
79,528
-
-
-
-
-
-
-
-
-
-
208,845
1,142,394

Page 23

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

The specific purposes for which the funds are to be applied are as follows:

Restricted funds

Freehold Property

Restricted funds provided for the acquisition of the freehold property.

Consumer Service Funding (including Scams advice) Provides advice and information to people on contracts for goods and services before, during or after purchase, including legislation or industry regulations and practical guidance.

Help through Hardship (Previously called Trussell Trust) Provides help for people who cannot afford food and helps them get a voucher for a local food parcel whilst providing information and advice on the issues that are causing financial hardship.

Universal Credit Help to Claim

Supports people in the early stages of their Universal Credit claim, from the application, through to first payment including support with gathering evidence for their Universal Credit application

Cost of Living Supports people through the cost-of-living crisis.

East Midlands Money Advice

Provides advice and casework to people who have significant debt issues, including help with priority and non-priority debts.

East Lindsey District Council - Homelessness Prevention Provides support to local residents with housing issues, including preventing homelessness and assisting those that are homeless to access accommodation.

East Lindsey District Council - Financial First Aid Provides support to local residents with navigating their financial recovery from Covid, including but not limited to supporting with welfare benefits, budgeting and income maximisation.

Advice in Mablethorpe and Sutton on Sea Provides support for local residents of the LN12 area (Mablethorpe and Sutton on Sea) with advice, including welfare benefits, budgeting and income maximisation.

Pension wise

Provides free, impartial guidance to over 50s who have a UK-based defined contribution pension pot (this could be a personal or workplace pension).

Acts Trust

Provides welfare benefits advice & casework for people accessing food banks in Lincoln.

The National Lottery Community Fund Provides welfare benefits, debt, housing, advice & casework for people accessing community settings in Lincoln.

Cadent Energy Provides specialist energy advice and income maximisation to local people in the Lincoln area experiencing fuel poverty.

During the year a transfer of £47,646 was made from the Trussell Trust to unrestricted funds. This transfer represented the surplus of funds after the funder had recouped any amounts due back.

Page 24

DocuSign Envelope ID: 7844405F-190D-47AF-8717-56D2A2E75415

Citizens Advice Lincoln & Lindsey

Notes to the Financial Statements for the Year Ended 31 March 2023

20 Analysis of net assets between funds

20 Analysis of net assets between funds
Tangible fixed assets
Investment property
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Investment Property
Current assets
Current liabilities
Total net assets		 Unrestricted
funds
General
£
-
75,000
1,252,272
-
1,327,272
Unrestricted
funds
General
£
770
75,000
857,779
-
933,549		 Restricted
funds
£
125,337
-
258,933
(109,718)
274,552
Restricted
funds
£
129,317
-
127,222
(47,694)
208,845		 Total funds
at 31 March
2023
£
125,337
75,000
1,511,205
(109,718)
1,601,824
Total funds
at 31 March
2022
£
130,087
75,000
985,001
(47,694)
1,142,394

21 Related party transactions

There were no related party transactions in the year.

Page 25