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:
- ●All those who need their services
- ●Staff and volunteers
- ●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:
- 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.
- Financial resources and the current financial position as set out in the latest published accounts and the latest management accounts.
- 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:
- ●Skills, knowledge and experience including lived experience
- ●Attendance at and participation in meetings
- ●Its diversity in the widest sense
- ●How the Board works together
- ●Influencing on behalf of the charity
- ●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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
- 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;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- 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:
- 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
- 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:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees remuneration specified by law are not made; or
- 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.
Page 15
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.
Page 16
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.
Page 17
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|
Page 18
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**
**£**|
Page 19
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:
Page 20
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.
Page 21
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).
Page 22
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|
Page 23
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).
Page 26