Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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 2024
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 6 |
| Statement of Trustees' Responsibilities | 7 |
| Independent Auditors' Report | 8 to 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Statement of Cash Flows | 13 |
| Notes to the Financial Statements | 14 to 26 |
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
| 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) | |
| Janet Collins, (Resigned 29 April 2024) | |
| Lynda Jean Crosby | |
| Martyn Robert Heathcote | |
| Kathryn Laverack, (Resigned 25 April 2023) | |
| Simon McCaffrey | |
| Shiv Nand | |
| 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: 7905ACBC-185F-4D27-A119-944BA42FDB42
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 2024.
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 6,883 local clients in Lincoln, East and West Lindsey were helped with more than 35,428 issues.
Overall as a service we helped 37,897 clients with more than 85,000 issues in our generalist services and through our projects and we achieved more than £8,286,505 in financial outcomes for clients.
A further 4,013 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 39,177 consumer enquiries.
For information on restricted funded projects please see 'Note 18' 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:
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●All those who need their services
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●Staff and volunteers
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●Stakeholders
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.
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
Page 2
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Trustees' Report
Reserves policy
Citizens Advice charities need robust financial risk management policies as the majority of income and funding streams are on a 12-month, short term basis. This means that each local Citizens Advice has a continuation fund in the event of a catastrophic loss of funding to enable the organisation to restructure, manage staffing if necessary in order to ensure the sustainability of the service.
The Charity Commission states that registered charities should keep money aside as a reserve to protect against drops in income or allow it to take advantage of new opportunities. A Charity’s reserves can be spent on any of its aims and objectives.
With this in mind, 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 2024/25 projected budget expenditure the reserves required to meet the policy would equate to between £1,350,216 and £2,700,432. Our actual Unrestricted funds freely available our 'Free Reserves' at 31st March 2024 were £1,613,397 (note 19). The trustees are satisfied with this position.
Fundraising standards information
The charity had no significant fundraising activities this year.
Priorities and plans for future periods
Our strategic priorities over the next two years align to the national Citizens Advice Living Framework so together as a national network we are all pulling in the same direction:
- Provide Advice for the Future Be there for people when they need us in the ways that help make the biggest impact. Measure of success:
Our advice offer is relevant, far-reaching and effective in an ever changing world.
- Close the Gap End the disparities in access and experience for marginalised groups Measure of success:
The best support in place for our most marginalised groups. Strengthened and direct partnership working is in place to support our most marginalised groups.
- Take Early Action
Prevent more people reaching crisis point by addressing problems earlier. Measure of success:
Provide early support when issues first come up. Tackle issues at their root cause, making the case for change that stops them happening in the future.
Page 3
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Trustees' Report
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 Lincoln & 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.
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:
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Induction, ethos and history of Citizens Advice. - The obligations of trustees. - The main documents which set out the operational framework for the charity, including the Memorandum and Articles of Association and the Membership Standards operated by Citizens Advice including those for quality assurance.
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Financial resources and the current financial position as set out in the latest published accounts and the latest management accounts.
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Future plans and objectives of the charity.
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's 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.
Page 4
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Trustees' Report
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:
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●Skills, knowledge and experience including lived experience
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●Attendance at and participation in meetings
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●Its diversity in the widest sense
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●How the Board works together
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●Influencing on behalf of the charity
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●Other factors relevant to its effectiveness
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 5
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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 19 December 2024 and signed on its behalf by:
......................................... 8021877963BE45F... Joy Hamilton Clews Chair of Trustees
Page 6
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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.
Approved by the trustees of the charity on 19 December 2024 and signed on its behalf by:
......................................... 8021877963BE45F... Joy Hamilton Clews Chair of Trustees
Page 7
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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 2024, 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:
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give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 8
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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:
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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
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:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 7), 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:
•Discussions with management, including consideration of known or suspected instances of non-compliance held.
•Challenging assumptions and judgements made within significant accounting estimates and judgements such as depreciation
•Testing of income, bank, purchases and payroll, systems and controls and providing conclusions on the regularity of samples chosen.
•Identification of key laws and regulations central to theoperations and review of compliance with such laws and correspondence with solicitors to identify any on-going litigation.
•Testing of journal entries and potential override of systems
Page 9
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
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 December 2024
Page 10
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Statement of Financial Activities for the Year Ended 31 March 2024 (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 6 Total expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 Note Income and Endowments from: Donations and legacies 3 Charitable activities 4 Investment income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income Transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 18 |
Unrestricted funds £ 50,538 1,197,085 33,624 1,281,247 (1,045,794) (1,045,794) 235,453 125,672 361,125 1,327,272 1,688,397 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 |
Restricted funds £ - 1,327,956 - 1,327,956 (1,306,741) (1,306,741) 21,215 (125,672) (104,457) 274,552 170,095 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 |
Total 2024 £ 50,538 2,525,041 33,624 |
|---|---|---|---|
| 2,609,203 | |||
| (2,352,535) | |||
| (2,352,535) | |||
| 256,668 - |
|||
| 256,668 1,601,824 |
|||
| 1,858,492 | |||
| 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 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 18.
The notes on pages 14 to 26 form an integral part of these financial statements. Page 11
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
(Registration number: 04740511) Balance Sheet as at 31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible assets | 11 | 121,359 | 125,337 |
| Investment property | 12 | 75,000 | 75,000 |
| 196,359 | 200,337 | ||
| Current assets | |||
| Debtors | 13 | 299,651 | 112,685 |
| Cash at bank and in hand | 14 | 1,566,960 | 1,398,520 |
| 1,866,611 | 1,511,205 | ||
| Creditors: Amounts falling due within one year | 15 | (204,478) | (109,718) |
| Net current assets | 1,662,133 | 1,401,487 | |
| Net assets | 1,858,492 | 1,601,824 | |
| Funds of the charity: | |||
| Restricted income funds | |||
| Restricted funds | 170,095 | 274,552 | |
| Unrestricted income funds | |||
| Unrestricted funds | 1,688,397 | 1,327,272 | |
| Total funds | 18 | 1,858,492 | 1,601,824 |
The financial statements on pages 11 to 26 were approved by the trustees, and authorised for issue on 19 December 2024 and signed on their behalf by:
......................................... 8021877963BE45F... Joy Hamilton Clews Chair of Trustees
The notes on pages 14 to 26 form an integral part of these financial statements. Page 12
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Statement of Cash Flows for the Year Ended 31 March 2024
| Note Cash flows from operating activities Net cash income Adjustments to cash flows from non-cash items Depreciation 11 Investment income 5 Working capital adjustments Increase in debtors 13 Increase in creditors 15 Decrease 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 |
2024 £ 256,668 3,978 (33,624) 227,022 (186,966) 94,760 - 134,816 33,624 168,440 1,398,520 1,566,960 |
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 |
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 26 form an integral part of these financial statements. Page 13
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
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 14
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
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.
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.
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.
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 and property improvements | 2% straight line |
| Fixtures and fittings | 33% straight line |
| Computer equipment | 33% 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.
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
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.
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Income from donations and legacies
| Donations and legacies; Transfer from Lincoln & District Citizens Advice Donations from individuals Gifts in kind 4 Income from charitable activities Lincolnshire County Council East Lindsey District Council West Lindsey District Council Consumer Services Funding Trussell Trust/Help through Hardship Universal Credit Help to Claim Cost of Living East Midlands Money Advice ELDC Homelessness Prevention ELDC Financial First Aid 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 Armed Forces Citizens Advice Energy Casework Citizens Advice CSDF Remote Debt Mod. Fund PCN |
Bureau Ltd. Unrestricted funds General £ 127,136 61,200 60,200 - - - - - - - - - 23,800 922,749 - - - - - - 2,000 - - - - 1,197,085 |
Unrestricted funds General £ - 6,618 43,920 50,538 Restricted funds £ - - - 367,431 338,484 135,178 - 133,183 20,000 26,387 19,831 - - - 68,043 41,198 78,714 39,575 - - - 11,543 31,125 12,431 4,833 1,327,956 |
Total 2024 £ - 6,618 43,920 50,538 Total 2024 £ 127,136 61,200 60,200 367,431 338,484 135,178 - 133,183 20,000 26,387 19,831 - 23,800 922,749 68,043 41,198 78,714 39,575 - - 2,000 11,543 31,125 12,431 4,833 2,525,041 |
Total 2023 £ 266,984 12,696 7,320 |
|---|---|---|---|---|
| 287,000 | ||||
| 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 |
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
5 Investment income
| Interest receivable and similar income; Interest receivable on bank deposits Income from rents |
Unrestricted funds General £ 21,395 12,229 33,624 |
Total 2024 £ 21,395 12,229 33,624 |
Total 2023 £ 2,315 9,200 |
|---|---|---|---|
| 11,515 |
6 Expenditure on charitable activities
| Wages and salaries Other staff and volunteer costs Premises costs Office costs Communications IT Trustee expenses General expenses Consultancy fees Bank charges Depreciation Audit Other governance |
Unrestricted funds General £ 814,488 13,292 60,257 22,293 22,631 16,248 189 2,268 90,158 161 - 3,671 138 1,045,794 Unrestricted funds General £ |
Restricted funds £ 1,127,894 17,418 75,477 8,220 9,892 25,980 264 1,460 30,742 133 3,979 5,105 177 1,306,741 Restricted funds £ |
Total 2024 £ 1,942,382 30,710 135,734 30,513 32,523 42,228 453 3,728 120,900 294 3,979 8,776 315 |
|---|---|---|---|
| 2,352,535 | |||
| Total 2023 £ |
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
| Wages and salaries Other staff and volunteer costs Premises costs Office costs Communications IT Publicity and payments Trustee expenses General expenses Consultancy fees Bank charges Depreciation Audit Other governance |
Unrestricted funds General £ 196,409 6,576 32,218 11,961 6,560 27,087 44 140 376 11,221 145 - 1,548 295 294,580 |
Restricted funds £ 870,543 19,197 62,102 11,478 29,078 10,305 147 364 5,719 28,357 460 4,750 4,022 174 1,046,696 |
Total 2023 £ 1,066,952 25,773 94,320 23,439 35,638 37,392 191 504 6,095 39,578 605 4,750 5,570 469 |
|---|---|---|---|
| 1,341,276 |
7 Net incoming/outgoing resources
Net incoming resources for the year include:
| Audit fees Other non-audit services Depreciation of fixed assets |
2024 £ 4,050 4,726 3,979 |
2023 £ 3,820 2,165 4,750 |
|---|---|---|
8 Trustees remuneration and expenses
During the year the charity made the following transactions with trustees:
Joy Hamilton Clews
£453 (2023: £275) of expenses were reimbursed to Joy Hamilton Clews during the year.
Derek Isles
£Nil (2023: £36) of expenses were reimbursed to Derek Isles during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any other benefits from the charity during the year.
9 Staff costs
The aggregate payroll costs were as follows:
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
| Staff costs during the year were: Wages and salaries Social security costs Pension costs |
2024 £ 1,773,933 132,572 35,877 1,942,382 |
2023 £ 973,231 72,379 21,342 |
|---|---|---|
| 1,066,952 |
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 | 2024 No 85 |
2023 No 51 |
|---|---|---|
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £152,309 (2023 - £135,921).
10 Taxation
The charity is a registered charity and is therefore exempt from taxation.
11 Tangible fixed assets
| Cost At 1 April 2023 At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 12 Fixed asset investments |
Land and buildings £ 223,431 223,431 98,094 3,978 102,072 121,359 125,337 |
Furniture and equipment £ 21,680 21,680 21,680 - 21,680 - - |
Computer equipment £ 46,223 46,223 46,223 - 46,223 - - |
Total £ 291,334 |
|---|---|---|---|---|
| 291,334 | ||||
| 165,997 3,978 |
||||
| 169,975 | ||||
| 121,359 | ||||
| 125,337 | ||||
Investment properties
| 2024 | 2023 |
|---|---|
| £ | £ |
| 75,000 | 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 2024 was £75,000.
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
13 Debtors
| Trade debtors Prepayments Accrued income 14 Cash and cash equivalents Cash at bank 15 Creditors: amounts falling due within one year Trade creditors Other taxation and social security VAT grant repayable Other creditors Accruals |
2024 £ 254,324 29,723 15,604 299,651 2024 £ 1,566,960 2024 £ 32,987 31,572 57,974 43,346 38,599 204,478 |
2023 £ 28,248 13,726 70,711 |
|---|---|---|
| 112,685 | ||
| 2023 £ 1,398,520 |
||
| 2023 £ 32,206 18,774 - 44,675 14,063 |
||
| 109,718 |
16 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 £35,877 (2023 - £21,342).
17 Commitments
Other financial commitments
The total amount of other financial commitments not provided in the financial statements was £43,487 (2023 - £81,307).
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
| 18 Funds Unrestricted funds General Unrestricted general funds Restricted funds Freehold property Consumer Services Funding Universal Credit Help to Claim Trussell Trust/Help through Hardship East Midlands Money Advice 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 Pension Wise Staff Meals Staff & Volunteer Celebrations Citizens Advice Energy Casework Citizens Advice CSDF Remote Debt Mod. Fund PCN Total restricted funds Total funds |
Balance at 1 April 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 |
Incoming resources £ 1,281,247 - 367,431 135,178 338,484 133,183 20,000 26,387 19,831 41,198 78,714 39,575 - - 68,043 - - 11,543 31,125 12,431 4,833 1,327,956 2,609,203 |
Resources expended £ (1,045,794) (3,979) (352,914) (135,178) (310,611) (133,183) (20,000) (26,387) (19,831) (42,298) (55,424) (43,118) (30,000) (8,800) (68,043) (279) (10) (8,297) (31,125) (12,431) (4,833) (1,306,741) (2,352,535) |
Transfers £ 125,672 - (97,799) - (27,873) - - - - - - - - - - - - - - - - (125,672) - |
Balance at 31 March 2024 £ 1,688,397 121,359 - - - - - - - - 45,490 - - - - - - 3,246 - - - |
|---|---|---|---|---|---|
| 170,095 | |||||
| 1,858,492 |
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Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
| Unrestricted funds General Unrestricted general funds Restricted Freehold property Consumer Services Funding 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 24
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
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
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.
Citizens Advice Energy Advice
Provides specialist energy advice and income maximisation to local people in the community experiencing fuel poverty.
Primary Care Network (PCN) Provides an advice service which contributes to social prescribing within the PCN.
Page 25
Docusign Envelope ID: 7905ACBC-185F-4D27-A119-944BA42FDB42
Citizens Advice Lincoln & Lindsey
Notes to the Financial Statements for the Year Ended 31 March 2024
19 Analysis of net assets between funds
| 19 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 1,817,875 (204,478) 1,688,397 Unrestricted funds General £ - 75,000 1,252,272 - 1,327,272 |
Restricted funds £ 121,359 - 48,736 - 170,095 Restricted funds £ 125,337 - 258,933 (109,718) 274,552 |
Total funds at 31 March 2024 £ 121,359 75,000 1,866,611 (204,478) |
| 1,858,492 | |||
| Total funds at 31 March 2023 £ 125,337 75,000 1,511,205 (109,718) |
|||
| 1,601,824 |
20 Related party transactions
During the year the charity made the following related party transactions:
Citizens Advice Lincolnshire
(J Clews is a Trustee of both Citizens Advice Lincolnshire and Citizens Advice Lincoln & Lindsey.) Citizens Advice Lincolnshire was formed in order to facilitate co-operation between the Citizens Advice Bureaux in the county of Lincolnshire for the purposes of delivering improved, more sustainable services to clients. A business plan was developed and agreed based on the main aims of:
-
Developing a strategic direction for Citizens Advice services throughout the county
-
Improving relationships with stakeholders
-
Securing increased funding
-
Coordinating services to ensure that they are effective, efficient and accessible
During the year funding was received totalling £127,136 (2023: £80,282) from Citizens Advice Lincolnshire. At the balance sheet date the amount due to/from Citizens Advice Lincolnshire was £Nil (2023 - £Nil).
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