R4 GISTERED COMPANY NUMBER: 05030345 (England and Wale3) REI CISTERED CHARrrY NUMBIR: 1102536 REPORT OF THE TRUSTEES AND FINANcL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR CITIZENS ADVICE BURY AtYD BOLTON LIMITED Ainsworths Limited Chartered Accountants and Statutory Auditors Charter Hou8¢ StaDsfAeld Street Nelson Lancashire BB9 9XY
CITIZENS ADVICE BURY AND BOLTON LJiiirrED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR IINDED 31ST MARCH 2024 Page Report of the Truste&s I to 8 Report of the Independent Auditorg 9 to 12 Statement of Financial Activltles 13 Balance Sheet 14 Cv45h Flow Statement 15 Notes to the Casb Flow Statement 16 Notes to the Flnanelal Statements 17 to 25
crrizENS ADVICE BURY AND BOLTON LIMITED (REGISTERII D NUMBIR: 05030345) REPORT OF THE TRUSTELS FOR THE YEAR ENDED 31ST MARCH 2024 The trustees who are also directorB of the charity for the purposes of the Companies Act 2006, pr85ent their report with the financial siatements of the charity for the year ended 31 st March 2024. The trustees have adopted the provisions of Accounting and Reporting by chtLes. Statement of Recommended Practice applicable to charities prepllng their aGcouiits in accordance with the Finaucial R¢porting Standard applicabl¢ in the UK at]d Republic of IrelatLd (FRS 102) (effective l January 2019). The trustees confimi their compliallee with their duty under Section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Clwity Commission in conducting its activitie8 for the public benefit. Page I
CITIZENS ADVICE BURY AM) BOLTON LIMITED (REGISTERED NUMBER: 05030345) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 OBJECTIVES AND ACTIVITIES ABOlfT CITIZENS IIDVICE BURY & BOLTON The charitable cornpany (Citizens Advice Biiry & Bolton Limited) is established to promote ally clwitable plupose for the public benefit by the advancement of educatkon, the protection and preservation of he¥Llth and the relief of poverty, sickness and distress ill particular, but without limitation, for th¢ b¢nefit of th¢ coJntnunity in Bury and Bolton, and surrounding aTeas. Our aim is to provide free, ootllSdential, impartial and independent advice and inforntion, to exercise a responsible influence on the developments of social policies and services, and to ensure individua]s do Dot suffer through lack of knowledge or 8n inability to express their needs effectively, The main activities ulldertalcen to flllther our charitable purposes for publio benefit are to provide the advice people need for the problems that they face atLd improve the policies and practices that affect peoples, lives, Our highly trained team (mixture of paid staff and volunteers) deliver information, advice and casework services. Services are provided through town-centre premises in both Bury & Bolton, multiple outreachl community space5 &Gross the area, telephone, webchat alld video advice. We are the people's champion, We exist to shape a society where people face far fewor problems. OUR MISSION We're driv¢n'. - By our ambition to nllke things better for people, individually and collectively as part of the Citizens Advice network. - By t¢ power of high quality, independent advice to help people solve their problell]s. To change the underlying causes of problems, throu1 working in partnership with local, regional and national organisations. Tbe trustees confirni tbat they have refeiTed to the information contained in tlje Charity Comn]ission's general guidance on public benefit when pltulning activities and setting policies and priorities for the year ahead. QUALITY, DIVERSITY & INCLUSION (EDD We re¢ognise inequalities are entrenched in our society. We work to remove bTlerS and design approaches that are inclusive and meet the needs of nwgincQised groups. We are & collaborative, innovative and high-perfom]ing service that actively promotes equality, diversity and inclusion, and challenge5 discrimination through all levels of the organisation. WHO WE HELPED IN 2023- 2024 During this period, we have supported 16,653 individuals with 52,815 issues. Our website (cabb.Org.() had 39,219 visits and 67,491 page views. During this period, we have delivered the following key contracts: ' Conmiunity fllLancial welfare alld debt support, advice and guidance, funded by Bury Council ' Advice Services Infrastructure Support, funded by Bolton Council ' Legal Aid Agency (LAA) civil contracts offering speGialist housing, in]migration, community care and welfare benefits (upper tribunal) provi810tL ' Money and Pensions Service (nded by M&PS, via Citizens Advice), ' Help to Claim (funded by DWP, via Citizens Advice), Help through HÉlrdship (funded by Trussell TrusL via Citizens Advice), ' Energy advice (funded by Energy Redress and Citizens Advice), ' Fe¢-paying inunigration gervices. Following service r¢view, specialist in]migration services (via legal aid and private fee-PELying) ceased 31 st March 2024. CLIENf FEI EDBACK client survey results were: Page 2
CITIZENS ADVICII BURY AND BOLTON LIMED (REGISTERFD NUMBER: 05030345) REPORT OF THE TRUSTEES FOR THEI YEAR ENDII D 31ST MARCH 2024 Ease of access How easy or difficult did you fd it to access the service?" 810/0 confwtned it was either neutral, eary or very easy to access our service, Way forward To what extent did th¢ service help you fmd EL way forward? 91 % oonfim]ed wo had either moderately, greatly or completely belped the find a way forward. Problem solved "To what extent is your problem now resolved?" 85Q/o confirnled we had either partly, mostly. or completely resolved their problem. Recommend How likely would you bo to recommend the service?Ii 890/0 confllried they were bkely or very likely recomrnend our service. FINANCIAL OUTCOMES FOR CLIENTS A core part of our service is looking at how we can maximise the income for those accessing our services by ¢nsuTing they receive all the benefits they are entitled to. During 2023 - 2024, we helped people access over £14m in one-off and ongoing additional illcome. FINANCIAL REVIEW Fiiiancial position Income for tho year to 31 March 2024 increased from the previous year to £1,921.,592 (2023: £1,622,546) due to joint grant fLJnding applications with other orgaDisations on which CABB was the principal beneficiary. Expenditure for the year increased 9.0% (2023.. 22.2Q/o) to 31 MaTch 2024 to £1,968,424 (2023: £1,805,719) due to payments to partners in respect of th¢ abov¢ joint grant fundiJ]g r¢c¢ivcd,. A mu¢h reduced deficit of £46,832 was reco]sed in the year to 31 March 2024 (2023: £183,173) due to the increased grant funding re1Ved.. OUR FUNDING & INCOME GENERATION STRATE4 GY We take a coll&boratiYe approach to our income generation, developing strategic relationships Wlth Icey partners and 8takeholders. All colleagues across the charity have & responsibility for identifying funding opportunities, but the overall responsibility for developing and sharing applications sits with th¢ Chief Executive Officer. All fiulding application bidl no bid decisions are digned to our Charity n]ission, vision atLd values alld are aligned to the Citizens Advice competition protocol. We do not carry out any significant fundraising activities, Page 3
CITIZENS ADVICE BURY AND BOLTON LllVJITED (REGISTERED NUMBER: 05030345) REPORT OF THE TRUSTEES FOR THE YEAR ENDD 31ST MARCH 2024 FINANCIAL REVIEW Reserves policy The trustees believe that the charity should hold fmancial reserves in order to ensure that the charity can Continue to operate effectively and meet the needs of clients in the event of unforeseen and potentially darnaging circu]nstanGes arising. Trustees consider that it is pNdent to set aside unrestricted reserves equating to at least 3 months operating costs, The atnount of reserves 18 Calculated from the annual budget and amounts to a minimum of £500,000. At 31 Match 2024 total funds of the charitable company were £790,634 (2023.. £837,466). The amount of free reserves of the charitable company at 31 MaTch 2024, being ullrestricted funds held othenvise than in fixed assets, increased to £790,634 (2023., £635,039) during the year due to a sale of freehold propety. The free reserves equate to 4.8 (2023: 4.2) months operating expenditure. The trLiStees are satisfied that the free reserves are sufficient to meet their policy for holding reserves. CABB operntes a def]ned contrilution pension scheme. It does not, and has never opemted a fal salary pension sclme, and therefore has no long tenn pension liabilities. Coing eoneern The trnstees are confident that th¢ charity is a going concem, able to rneet its debts as they fall due for the foreseeable re. The charity kas significant reserves and its fmancial performance has improved in the period since 3 1st March 2024 such that it is expected to generate a surplus. FUTURE PLANS We aitn to continually review and improve our services, ensuring all aspects of the chlty are etygctive and detnonstrate best value for clients and use of the monies received from funder5. During this period, w¢ have continued to WOTIC in active parterShIp with other Local Citizens Advice (LCA) across Gr¢ater Manchester and key stakeholders across Bury & Bolton. STRUCTURE, GOVERNANCE AND MANAGEMENT Strueturey goYernanc¢ and man&gement Citizens Advice Bury and Bolton Limited is a registered charity and a company limited by guarantee (with th¢ maximum liability of each metnber litnited to £1). The cbaritsble company is governed by its Men]oraudum and Articles of AssociatiotL as amended, dated 24Lb May 2022. The charitable company was incorporated on 30 January 2004. It commenced operations otl l April 2004 at which date the assets and liabilities of the unincorporated Bolton Citizens Advice Bureau were acquired. Page 4
CITIZENS ADVICE BURY AIYD BOLTON LIMED (REGISTERED NUMBEI R: 05030345) REPORT OF THE TRUSTEEI S FOR THEI YEAR ENDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEI MENT Recruitment and appolntment of new trustses The directors of the charitable cotllpany are also the clwity tNstees for the purpose of charity law. Under the charitable ompany's articles of association they are referred to as the "Trustee Board.. The majority of trustee board nMberS Continue to be elected from the local community and should either reside or work in Bury or Bolton. The articles provide that the trustee board Shall consist of membors who are el¢cte(L representative and COuOPted. Triistees are elected for a period of three years but may be r¢-electgd. Trustees aTe elected at the Allnu General Meeting. The Trustses seelc a Bury Council and Bolton Council representative to become co-opted members of the Board. During 2023 - 2024, councOr Adele WTen was the representative for Bolton Council (until May 2023) and Councillor Liam Barnard (from 5th May 2023). Councillor Kevin Peel was Bury Council representative (until 4th May 23), for the remainder of 2023, there was no represontative frottt Bury Council Oll the board. Council representatives are co-opted onto the board, they are no longer registsred a5 ts11 trustses. Any person May resign fron] the committee by giving one months, notice in writin& to oitber the Chair, or Secretary, of th¢ir intention and stating the d&te whell their resigTh&tion is to take effect. The committee have the power to declare a vacancy in the office if a conunittee member., - Becomes bankwpt, - Moves residence to a dkstance more than fify miles from the registered address, - Is absent from three consecutive ordinary meeting8 of the con]mittee. The trustees retain overall responsibility and control of the procegs for recruiting menlbers of the tLUStee board. Prospective trLiSt¢e8 are selected for their ability to make an effective contribution to th¢ charitable company tbrougb their skills, knowledge and experionce. In addition, Gon5Lderation is given as to how representative the trustee board is of the community. The trustees consider the make-up of th¢ trust¢e board and assess whether further areas of competence are needed to enable il to function effectively md whether the membership reflects and has knowledge of the conrnunities and areas in which it operates. Newly appointed trustees are provided with a cornprehellsive indiiction to Citizens Advice Bury and Bolton through the provision of tt2ining courses and mentoring by established trustees. No members of the trustee board is in paid employrnent at Citizens Advice Bury & Bolton, or acting as a volunt¢th' in the charity, There were no ex-officio members who served as trustees during the year, Organisatlollal structure The trustee board set8 the strategic vision and gives strategic direction to the charity. The board is conllnitted to high governance sEandards and complies with the principles and practices set out in the Charity Governance Code. The trustees carry the ultimate responsibility for the conduct of Citizens Advice Bury & Bolton and for ensuring that the charity satisfies its legal and contractual obligations, The trustee5 meet, as a minimum, quarterly and delegate the implementation of the strategy and day-to-day operations to the Chief Executive Otyicer and broader Executive Team. The trustee board is independent from mgnagement. A register of members, interests is maintained at the registered office and is availabEe to the pubEiG. Executive Team The Executiv¢ Tearn, which incorporates our key management persom]¢l is responsibl¢ for deliveritig the trustee boards visions and for the day-to-day operation of the charity. Page 5
CITIZENS ADVICE BURY AND BOLTON LIMITED (REI GISTERED NUIVIBER; 05030345) REPORT OF TH TRUSTII ES FOR THE YEAR II NDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related partles Citizens Advice Bury & Bolton is a rtlember of Citkzens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a frameworlc for standards of advice and casework management as well as monitoring progres8 against these standards. Operating policies are independently detennined by the trustee board ill order to fulfil its charitable objects and comply with the national membership requirements. The charitable company also co-operates and liaises with a number of advisory services, local charities and social services departments on b¢half of clients. Where one of the twstees holds the position of trugteeldirector of another cbarity they may be involved in discussions regardillg that other Charity, but not in the ultillte decision-making process. The Perfonnance and Quality Framework (PQF) is part of our membership agreement with Citizens Advice and sets out the standard8 all local Citizens Advice service8 niugt meet. The PQF consigts of four parts.. - Quality of advice assessment, conducted quarterly> Client experience survey, conducted quarterly, - Financial health OnItorIng, conducted quarterly, - People management survey, conducted amiually, Leadership self-assessment, conducted annually. Tbe Citizens Advice audit team oheck compEianoe with the PQF. We are holders of the Specialist Qiiality Mark (SQM) and the Advice Quality Standard (AQS). Major risl The charitable company has worked on a corporate risk management exercise. A risli management strategy and rislc register were agreed by the trustee board. The truslees recognise that any major risks to wbich the charitable con]pany is exposed need to be reviewed and systems put in place to mitigate those risks. To that end the charitable company is Gontinually monitoring and managing its risk, reviewing the coryorate ris1< register and ensuring action plaus are in place to mitigate its key ri81(s. Included in external risks is that of loss of funding. The effects of this have been minimed by the procedures in place which have resulted in funding being 3Ured from a variety of sources, The charitable company continues to seelc to diversify its ndIllg sources. Internal risks ale minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of d¢livery for ail operational a8p¢cts of th¢ charity, The8¢ procedur¢8 are periodically revi¢wed to ensure that they still meet the needs of the charitable company. REFERENCE AND ADMINISTRATIVE DEI TAILS Registered Company number 05030345 (England and Wales) Registered Charity number 1102536 Registered office I Victoria Plaza Oxford Street Bolton BLI IRD Page 6
CITIZENS ADVICE BURY AND BOLTON LI1ITED (REI GISTERED NUMBEI R: 05030345) REPORT OF THI TRUSTII ES FOR THEI YEAR ENDED 31ST MARCH 2024 Trustees A Connell P D Heneghan R Levene (resigned 19.12.2023) A Pirbhai S A Stanton (resigned 29.9.2023) Dr L Vallance M Wallcer Cllr A Warrell (resigned 21.5.2024) Cllr K E Peel (resigned 4.5.2023) L P Conheeney (appointed 12.9.2023) R M Tyzzer (appointed 12.9.2023) J L WaIker (Chair) (appointed 12.9.2023) M J Ascroft (appointed 14.5.2024} D J Gorton (appointed 14.5.2024) D OErien (appointed 14.5.2024) Company Secretary G Malcomson Auditors Ainsworths Limited Chartered Accountants and Statutory Auditors Charter Hous¢ stansfield Street Nelson Lancasbire BB9 9XY Banker5 The Royal Bank of Scotland l Hardmat) Boulevard Manchester M3 3AQ STATEMENT OF TRUSTII ES, RESPONSIBILITIES The tnte¢S (who are also the directors of Citizens Advice Bury and Bolton Limited for the purposes of coinpany law) are respon8ible for preparing the Report of the Trust¢eB and the fanCIal statements in accordance with applicable law and United Kingdom Accoullting Standards (United Icingdom Generally A¢¢ept¢d A¢couttting Practice). Company law rei]reS the thistees to prepare flnancial statement'5 for each financial year which give a trne and fair view of tbe state of affai of the clmritable company and of the incoming resources and application of r¢sources, including tbe inconle and expendAture, of the charitable company for that period. In prepaiing those fll]ancial statements, the trustees are required to select suitable accounting policies and then apply them consistently? observe the methods and winciples in the Charity SORP. make judgement5 and estimates that are reasonable and prudent" prepare the fmancial statemeTht8 Oll the going concern basis unless it is inappropriats to presume that the charitable company will continue in business. The trustees are respoiisible for keeptng proper accounting records wbicb disclose wil'h reasonable accuracy at any time the financial position of the charitable Company and to enable tliem to ensure that the f]nancial statements comply with the Companies Act 2006. They are also respon8ible for safeguarding the assets of the ¢haritable company alld hence for taking reasonable steps for the prevention and detection of fraud and other irregulaTitie8. Page 7
crrizENS ADVICE BURY AThD BOLTON LITED (REGISTERED NUMBER: 05030345) REPORT OF TILE TRUSTEES FOR THL, YEAR LNDEI D 3ISTMARCH 2024 STATEMEpfT OF TRusTIS, RESPONSIBILrrIKs- ¢oniiDlled In w faT as the tNstees awar¢'. thei¢ is relevant audit infotJW4tion of w,¢b tb¢ chaTitsble comp8ny'$ &uditOfS RTe uaawar4 the trtthes bave tsken all slep$ that ttL&y ouglJt to have taken to theJnselv¢8 awar¢ of any r01evant inforntion and fo establi8h that the &udiloi& aw&e oftbatinfonnation. AUDITORS Th¢ auditOES, Ainsworths Limltsi will bGpropo&ed forr¢4ppoinltJ)ent At the f0rthcomjtigAtsna1 Genuai Meetin& Approv¢d by orfer of tho board oftru5t¢¢8 OD 3rd D¢¢ellib¢r 2024 and signed its beholf by: J L Walker. Trustee PRtrp. 51
REPORT OF THE INDII PENDENT AUDrroRS TO THE MLMBERS OF CITIZENS IIDVICE BURY AND BOLTON LIMITED Opinion We have audited the fllwicial statements of Citizens Advice Bury and Bolton Limited (the 'cbaritable company) for the year ended 3 1st March 2024 which comprise the Statement of Financial Activities, the Bal£mce Sheet, the Cash Flow Statement and notes to the fmancial statements, incliiding a surnmary of significant accowkting policies. The financial reporting frameworlc that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinkon the fmancial statementg,. give a true and fair view of tbe state of the ChtabLe company's affairs at 3 1st 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 l(ingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of th¢ Companieg Act 2006. Basis for opinion We conducted our audit in accordance with International Stalldards on Auditing (UK) (ISAS (UK)) &lld applicabl¢ law, Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the fmancial statements section of our report. We are independent of the chaTitable company in accorthce with the gthical requirements that are relevant to our audit of the fJrLancial stat¢entS in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. W¢ b¢lieve that th¢ audit evidence we have obtained is sufficient and appropriate to provide a basi8 for our opinion. Conclusions relating to going concern In auditing the flnancial statements, we have concluded that the trustees, i15e of the going concern basis of accounting in the preparation of the fmancial statements is appropriate. Based on the woA( we have performed, we have not identified any material ullcgrtainties Telating to events or conditions thaL individually or collectively, may cast significaut doubt on the charitable company's ability to continlie as a going concern for a period of at least twelve months from when the fancIal staternents are authorised for issue. Our responsibilities and the responsibilities of the tnlstees with r¢spect to going concern are described it) the relevant sections of this report. OtILer Information The trustees are responsible for the other inforniation. The other infonnation wmprises the inforn]ation included in the Annual Report, other tlwi the f]nancial statements and our Report of the tndependent Auditors thereon, Our opinion on the financial statements does not cover thc other information and, except to the extent otherwise explicitly stated in our repor¢ we do not ¢xpres5 any form of assurance conclusion Ibereon. In connection with our audit of the finanoial staternents, our responsibility is to read the other information and, in doing so, consider whether the other information is materially in¢onsistellt with the fmancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsi8tenGies or apparent material misstattmellts, we are required to detennine whether this gives rise to a nterial misstatement in the financial staternents themselves. If. based on the work we have perforrned, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing Èo report in this regard. Opinions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit,. - the infoLination givffli in the Report of the Trustees, which includes the Directors, Report prepared for the purposes of company law, for the fmancial year for which the fmaucial stateinents are prepared is consistent with the f1claI gtatements, and the Directors, Report included within the Report of the Trustees have been prepared in accordance with applicable legal requirernents. Page 9
REPORT OF THE ITrIDfi Pfi NDENT AUDoRs TO THEI MLI MBERS OF crrizENS ADVICE BURY AND BOLTON LIMITED Matters on which we &re required to report by exception In the light of the l(nowledge and understanding of the charitable company and its environment obtained in the course of Èbe audit, we have not identified material misstatements in the DiT¢¢tors' Report included within the Report of the Trugtees. We have nothing to teport in respect of the following ntter8 in relation to which the Con]panie8 Act 2006 requires us to report to you if, in our opinion: adequate and proper &ccounting records have not been kept, or retLng adequate for our audit h&ve not been received frotn branches not visited by uy. OT - the fanCIal 8tat¢rnents are not in agreement with the accounting records and returns. or - certain disclosures of tru5te¢s' rernuneration specified by law are Jot made" or - we have not received all the inforniation and explanation8 we require for our audiL or - the trustees were not entitled to prepare the fanCIal statement5 in accordanG8 with the small companies regime and tske advantage of the small companies, exemptions in preparing tbe Report of the Trustees and from the requirement to prepare a Strategic Report. Responsibilities of trustees As explained more fully in th¢ Statement of Trustees, RespoD5ibilities, the trustees (who are also the directors of the haritable company for the purposes of company law) 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 detennin¢ is necessary to enable the preparntion of fLllanrial statement8 that are fi'ee from material misstatement, whether due to fraud or error. tn preparing the fmancial statements, the trustees are responsible for 855¢ssing the charitable company's ability to ontinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the teeS either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 10
REPORT OF THE4 INDEPII NDEI NT AUDITORS TO THEI Mli MBERS O CITIZENS ADVICE BURY AND BOLTON LIMITED Our responsfibilltles for the audit of the financial statements Oiir objectives are to obtain reasonable assurance about whether the fmancial statements as a whole are free from material m1sstatent, whether due to fraud or error, alld to issue a Report of the Illdependent Auditors that includes our opinion. Reasonable aSSUrE¢e is a high level of SUrance, but is not a guaralltee tbat an audit conducted in accordance with ISAS (UK) will always detect a rnaterial tnisstatsment when it exists. Misstatements call arise from fraud or error and are considered material 1£ individually or in the aggregate, they could reasonably be expected to influence the economic d¢cision8 of llse taken on the basis of these financial statements. The extent to which our procedures are capable of detecting I¢gularitieS, including fraud is detailed below: Idell and assessin otential risk8 related to irre larities In identifying and assessing risL8 of Jnaterial misstatement in respect of i¢gUlarities, we considered the following: the nature of the industry and seotor, control environment alld business perforniance; results of our enquiries of DlageM¢llt about their own identification and asgessment of the risks of irregularities. any matters we identified having made enouiries of management about their policies and procedures T¢lating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompli&nce,' detecting and responding to the rislcs of fraud and whether they have knowledge of any actual, suspected or alleged fraud,
the internal controls established to mitigate risks of fraud or non-compliance witb laws and regulations. the rnatt¢rs discussed amollg the audit engagement team regarding how and where fraud might occur in the financial staternents and ally pot¢ntial indicators of ftaud. As a result of these procedure5, we ci)nsidered th# opportunities aad incentives that may exigt within the organisation for fraud. In common with all audits under ISAS (UK), we are also required to perforLn specific procedures to respond to the rislc of management ovenide. We also obtained an understanding of the legal and regulat()ry frameworks that the Gompany operates in, fociising on provisiong of those laws and regulations that had a direct effect on the detennination of material amounts and disclosures in the fmancial gtatements. The key laws and relIationS we considered in this context included the UK Companies Act and local t&Y legislation. In additioo we considered provisions of other laws and regulations that do not have a direct effect on the FU[ClaI statements, biit complKance with which lly be fundam¢ntal to the company's ability to operate. Audit res onse to risks identified As a result of performing the above our procedures to respond to the risl<s identified included the ftillowing: reviewing the fjnancial Statennts disclosure and testing to supporting docun]entation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the finanGial statements. enquiring of management about actual and potential litigation and clain]s' performing analytical procedures to identify any unusual or unexpected relationships that nlay indicate risk of nmterial misstatement due to fraud. in addressing the rislc of fraud through management override of controls, testing the approlateness of jourJMI cntri¢s and other adjusttnent8' assessing whether th¢ judg¢r(L¢nts made fft making accounting estimates a indicative of a potential bias. and evaluating tb¢ busiiiess rationale of any significant transactions that are unusual or outside the nornial course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to ally indications of fraud or non-compliance with laws and regulalions througliout the audit. A further description of our responsibilities for the audit of the fancial st&tements is located on the Financial Reporting Council's website at www.frc.oig.uklauditorsresponsibilities. This d¢scription forms part of our Report of the Independent Auditors. Pagell
REPORT OF THEI INDEPEI IYDENT AUDITORS TO THE MEMBERS OF CITIZENS ADVICE BURY AND BOLTON LIMITLI D Use of our report This report is made solely to the charitable coinpany's members, as a body, in accordance with Chapter 3 of Part 16 of the CoD)panies Act 2006. Our audit worlc has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other pury)ose. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone other thaft the charitablo cotnpany and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have fornied. Mdcd Michael Heys (Senior statOry Auditor) for and on behalf of Ainsworths Limited Chartered Accountants and Statutory Aiiditors Clwter House Stansfield Street Nelson Lancashire BB9 9XY 3rd DeCeber 2024 Page 12
CITIZENS ADVICEI BURY AND BOLTON LIMrrEI D STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THEI YEAR ENDED 31ST MARCH 2024 31.3.24 Total funds 31,3.23 Total fullds UnrestiiGted ftu]ds Restricted nds Notes INCOME AND EF4DOWMENTS FROM Donations and legacies 10,00 10,000 Charitable activlties Legal and fillancial advice and services 905,480 984,049 1,889,529 1,541,757 tnvestment income Other income 6,761 15,302 6,761 15,302 1,888 78,901 Total 937,543 984,049 1,921,592 1,622,546 EXPENDITURE ON Charitable aelivities Legal and fmancial advice and services 984,375 984,049 1,968,424 1,805,719 NET INCOME/(EXPENDITURE) (46,832) (46032) (183,173) RECONCILIATION OF FUNDS Total funds broughl forward 837,466 837,466 1,020,639 TOTAL f4UNDS CARRIED FORWARD 790,634 790,634 837,466 The notes foiin part of these fancial statements Page 13
CJTJZENS AI)VICE BURY AND BOLTON LIlWIlT (RXGISTERED NUMBEIL. 05030345) ALANCR SHEET JISTIIL411CH2024 31.324 Total futtd8 Unr¢strithd nds 31.3.23 Totsl Rs$triGt¢d Notes XED ASSETS Tangible as$¢ts 12 202.427 CURRENT A&8ETS Debt$ CA5h at bank and Iw 13 472,395 S1163 472095 511,863 224.683 510,444 984258 984358 735.]27 CREDfTORS Amounts falliug due within one y68r 14 93,624) (193,624) (100,088) NET CURRINT ASSETS 790,634 0,634 635.039 TOTAL ASSETS LESS CURRENT LIABILTriLs 790ffj34 790,634 837.466 NET ASSETS 790,634 790,634 837,4S6 tryDS Unrestrittted fith: General fijlld 15 790,634 837,41?6 TOTAL FtINDS 7W,634 837.466 These finattttial state¢nts have bvtn Prepar in accordce with the provisi(vk8 applÈcabl¢ to chAEitabAe companies subject to the small companieF re#1¢. The financial statements approwd by Ibe Board of Trust*s and authorised foi issuc on 3Td De¢on]b¢r 2024 and weTe yigne(J on its b¢half by., J L Walker. Tmstee D J (30rtott- Trustee The notes fo part ofthese financi ststtJnents
crrIzENS ADVICE BURY AND BOLTON LIMITED CASH FLOW STATEIIIENT FOR THE YEAR ENDED 31ST MARCH 2024 31.3.24 31.3.23 Notes Cash flows from operating activltles Cash generated from operationg (180,202) (327,640) Net rash used in operating activities (180,202) (327,640) Cash Ilows from investing aetiviti Sale of tangible fixed assets 181,621 Net cash provided by investing activities 181,621 Change in cash and cash equivalents in the reporting period Cash and cash equivalents At the beglnning of Éhe reporting period 1,419 (327,640) 510,444 838.084 Cash and Cash equivalents at the end of the reporting period 511,863 510,444 The notes forni part of these financial stat¢ments Page 15
crTIZENS ADVICE BURY AND BOLTON LIMITED NOTE4 S TO THE CASH FLOW STATEI MEN[ FOR THE YEAR ENDED 31ST MARCH 2024 RLICONCILIATION OF NLIT EXPEINDITURE TO NET CASH FLOW FROM OPERAYING ACTIVITIES 31.3,24 31.3.23 Net expenditure for the reporting period (as per the Statement of FinAncial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Increase in debtors Increasel(decrease) in creditors (46,832) (183,173) 2,142 18,664 (247,712) 93,536 4.284 (43,815) (104,936) Net cash used in operations (180,202) (327,640) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand 510,444 1,419 511,863 510,444 1,419 511,863 Total 510,444 1,419 511,863 The notes fonn part of these financial statements Page 16
CITIZENS ADVICE BURY AND BOLTON Ll]IItTED NOTES TO THE FINANCIAL STATEIIIENTS FOR THE Yll AR EDIDED 31ST MARCH 2024 STATUTORY INFORMATION Citizens Advice Bury and Bolton Limited is a registered charity and company limited by guarantee, registered in England and Wales. The charitys registered number and registered office address call be found within the reference and administrative details section of the Report of the Trustees. ACCOUNTING POLICIES Basls of preparing the financlal statements The fmaneial statements of the charitable company, which is a public benefit entity under FRS 102, bave been prepared in accordance with the Charities SORP (FRS 102) 'Accoullting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accoullts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finwcial Reporting Standard 102 Ybe Financial Reporting Standard applicable in tho UK and Republic of Ireland, pd the Companies Act 2006. The fmancial statements have been prepared under the bistorical Cost convention. Citizens Advice Bury and Bolton Linjited meets the definition of a public b¢nefit entity under FRS 102. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fimds, it Is probable that the incotlle be received and the amount can be measured reliably. Incotne is the amount derived from ordinary activities and is stated net of VAT. Grants re¢eiYable are arrounted for when due. Income is deferred when it is received in advance of the period to which it relates. Tnvestment income is recognised on a receivable basis. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation COnnItting the chwity to that expenditure, it is prob<ible that a transfer of ecollomic benefits will be required in settlement alld the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been Glassified under headings that aggregate all cost related to the category. Wher¢ costs canllot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resource8. Tangible fixed assets Depreciation is provided at th¢ following allnual rates in order to Mrite off each asset over its estitnated useful life. Freehold property Fixtures and fittings 2% oncost IOO/y on cost Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted fullds can be used in accordance with the cbaritable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpos¢ of each fund is included in the notes to the fancIal statements. Pago 17 continued...
CITIZEINS ADVJCL BURY AND BOLTON LIMITLD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR Tr4DED 31ST MARCH 2024 ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The charitable company operates a defmed contribution pension sclLeme. Contributions payable to the charitabl¢ ompany's p¢n8ion sch¢me are chargod to the Stateftlent of Financial Activities in the period to which ttLey relate, Debtors Short terni debtors are measured at transaction price, les5 any impairn]ent. Credltors Sbort terni Creditor8 are measured at transaction price. Amounts recoverable on contracts Services provided to clients during that year that remain unbilled as at the year end are recognised as turnover in the Statement of Financial Activities and aOUnts recoverable on Gontracts in the Balance Sheet. Tbe amount at which those services are recognised is billable amount. A provision is made against any balance that is considered to be irrecoverable. Significant judgements and key sources of &stimatlon uncertainty The preparation of the fanCIal statements requires llnageMent to make significant judgements, estimates alld assurnptions that affect the arnounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estim&tion means that actual outcomes coiild differ from those estimates, The following judgement (apart from those involving estimates) has had the most significant effect on amoiints recognised ill the financial statements. Debtors Debtors are included in the fllRncÈal statements in accordance the accounting policy given. Amounts recoverable on contracts is measured according to the contracts but judgement has to be talcen whether the full amount is recoverable and whether any amounts need writing off. This is considered by management on a regular basis to ensure that such amounts ar¢ recoverable and are tLOt overstated in the fllwicial statements. The following is considered to b¢ the charitable company's key source of estimation uncertainty: Provision for bad debts Management review debtors on a regular basis, chasing up any overdue balances, and subsequently estimating whether any of those retnaining might be irrecovffl2ble, lli which case a Provision is made against the debtor which is expensed in tkLe Statement of FinatLcial Activities. If the debt is subsequendy recovered. the amount recovere( net of VAT, is credited to the Statement of Financial Activities. DONATIONS AND LEGACIES 31.3.24 31.3,23 Donations 10,000 Page 18 continued.,.
CITIZII NS ADVICLI BURY AI¥D BOLTON LIMITED NOTES TO THE FINAINCIAL STATEMENTS - continued FOR THE YEAR EI NDED 31ST IIIARCH 2024 INVESTMEIYT INCOME 31.3.24 31.3.23 Bank interest received 6,761 1,888 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Legal and ffftaftcial advice and services Legal and fmancial advice and services Legal and fmtu]cial advice and services Non-contract income Contract income Grants 29,973 182,798 1,676,758 4,100 219,677 1,317,980 1,889,529 1,541,757 Grants received, inoluded in the above, are as follows., 31.3.24 31.3.23 Bolton MetropolÈtan Borough Council Bury Metropolitan Borough Councll The National Association of Citizens Advice Bureaux Access to Justice The National Lottery Macmillan Manchestsr City Council Energy Saving Tw8t Bolton CVS 141,098 163,664 966,759 7,917 71,800 49,194 138,334 252,069 907,677 9,900 10,000 267,784 8,542 1,676,758 1,317,980 CHARITABLE ACTIVITIES COSTS 31.3.24 31.3.23 Direct costs Support costs (s8¢ not¢ 7) 1,942,250 26,174 1,797,882 7,837 1,968,424 1,805,719 Page 19 continued...
CITIZENS ADVICE BURY AIYD BOLTON LIMITLD NOTES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEI AR NDED 31ST MARCH 2024 SUPPORT COSTS 31.3.24 31.3.23 Finance Human resources Governance costs 20,551 180 5,443 1,823 115 5,899 26,174 7,837 NET INCOMEI(EXPINDITURE) Net income/(expenditure) is stated after charging/(crediting): 31.3.24 31.3.23 Auditors, remuneration Depreciation - owned assets Deficit on disposal of fixed assets 4,143 2,142 18,664 5,000 4284 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, relnuneration or other benefits for the year ended 3 1st March 2024 nor for the year ended 3 1st March 2023. Trustees, expenses There were no trustee expense relbUrSeentS during the year ended 31 March 2024. In the prior year, the charity reimbursed lyavel and other expenses incurred by l trustee dirertor amoiinting to £55. io. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Social security Costs Other pension costs 1284,861 104,264 22,448 1,316,547 112,883 24,651 1,411,573 1,454,081 Tota] employee benefits paid to the charity's l<ey managernent personnel for the year ended 3 1st March 2024 was £158,000 (2023.. £192,995). The average rnonthly number of employees during the year was ag follows.. 31.3.24 35 31.3.23 38 Legal and advice Key man&gement 38 42 Page 20 continued...
CITIZfi NS ADVICE BIJRY AND BOLTON LIMITED NOTLI S TO THE FINAIYCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 io. STAFF COSTS - continued The niunber of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 31.3.24 31.3.23 £60,001- £70,000 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIvfrIEI S Unrestricted fun(ts Restricted funds Total fLmd5 INCOMLI AND ENDOWM1 NTS FROM Charitable activities Ikgal and fmancial advice and services 419,982 1,121,775 1,541,757 Investment income Other income 1,888 78,901 1,888 78,901 Total 500,771 1.121,775 1,622,546 EXPENDITURE ON Charltable activities Legal fall¢la1 advice and services 683,944 1,121,775 1,805,719 NET INCOME/(EXPEIYDrfuREI ) (183,173) (183,173) RECONCILVATION OF FUIWS Total funds brought forward 1,020,639 1,020,639 TOTAL FUNDS CARRIED FORWARD 837,466 837,466 Page 21 continued,..
CITIZEI NS ADVICE BURY AND BOLTON LIMITED NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31ST MARCH 2024 12. TANGIBLE FIXED ASSETS Fixtures Freehold property fittings Totals COST At 1st April 2023 Disposals 260,949 (260,949) 52,413 (52,413) 313,362 (313062) At 3 1st March 2024 DEPRECIATION At 1st April 2023 Charge for year Eliminat¢d on disposal 58,522 2,142 (60,664) 52,413 110,935 2,142 (113,077) (52,413) At 31 st March 2024 NET BOOK VALUE At 3 1st March 2024 At 3 1st March 2023 202,427 202,427 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade d¢btors Amounts recoverable on contract Other d¢btors VAT PrepaymeLts and accrued income 43,877 387J04 10,563 3,171 27,480 44,477 131,823 4,883 43,500 472J95 224,683 Page 22 ODtiDll¢d,..
crrizEI NS ADVICE BURY AND BOLTON LIMITED NOTES TO THE FINANCIAL ST ATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes VAT Other creditors Aecruals and deferred income 189 21,230 189 (489) 6,050 13,924 80,414 4,289 167,916 193,624 100,088 The movements on the deferred income account during the year were as follows.. deferred income brought forward frorn prior year £1,763. deferred inGome credited to the St&tement of Financial Activities in the year £1,763, income received in the year deferred to future periods £69,351. deferred illcome canied forward to the nextyear £69,351. 15. MOVEMENT IN FUNDS Net Lnovement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 837,466 (46,832) 790,634 TOTAL TUNDS 837,466 (46,832) 790,634 Net rnovernent in funds, iticluded ill the above are as follows: Incoming resources Resources expended Movement in fijnds Unrestricted funds General fund 937,543 (984,375) (46,832) Restrleted funds Money Advisory Services Help to Clai Help Through Ilardship Mactnillan National Lottery 279JOO 222J59 361,396 49,194 71,800 (279,300) (222,359) (361,396) (49,194) (71,800) 984,049 (984,049) TOTAL FUNDS 1,921,592 (1,968,424) (46,832) Page 23 continued...
CITIZENS ADVICE BURY AND BOLTON LIMITED NOTEI S TO THE FINANCIAL STATEI MENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 15. MOVEI MLI 14T IN FUNDS - eontlnued Comparatives for movement in funds Net OVeellt in fLfftds At 31.3.23 At 1.4.22 Unrestricted funds General fiilld 1,020,639 (183,173) 837,466 TOTAL FUNDS 1,020,639 (183,173) 837,466 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movernent in knds Unrestricted funds GeneraI fund 500,771 (683,944) (183,173) Restrleted funds Money Advisory Services Help to Clai NLCF Covid support Employoe Assi8tanc¢ Programme Help TIWou H&rdship Macmillan 261,372 230,209 252,069 7,700 360,525 9,900 (261,372) (230,209) (252,069) (7,700) (360,525) (9,900) 1,121,775 (1,121,775) TOTAL FUNDS 1,622,546 (1,805,719) (183,173) Page 24 continued...
CITIZ4 NS ADVICE BURY AND BOLTON LIMITED NOTES TO TIIE FINANCIAL STATEMENTS - continued FOR THE Y.EAR ENDED 31ST MARCH 2024 15. MOVEMEiYf IN FUNDS - continued Name Df fllnd Descrlptioll, nature and purposes of the fund Unrestricted funds: General thd: Funds available for the trustees to use at their discretion to fiuther the charitable company's objects. Restricted funds: Money Advisory Services Provision of money advice service, either digitally or face to face to the residents (MaPS): of Bury & Bolton. The subgrant is provid¢d by The National Association of Citizens Advice Bureau (NACAB) on behalf of the Money and Pensions Service. Help to Claim (Htc): Provision of universal credit application support and advice, delivered via phone and webchat through a national queue, with a freephone telephone number. Webchat will be delivered through the national platforni. The subant is provided by The National Association of Citizens Advice Bureau (NACAB) on behalf of Department of Work & Pensions. Help Through Hardship Provision of telephone advice and support to tackle the root causes of povety across England. The siibgrant is provided by NACAB on behalf of Trussell Trust. Energy Advice Progran]me Provision of one to one energy advice appointments to thel POOT and vulnerable (EAP).. consumers who are struggling to pay their bills. The subgrant is provided by NACAB via the Energy Supplier Warm 14ome Discount initiative. Energy Redress: Provksion of one to one energy advice, funded by the Energy Savings Trust. Macmillan.. Provision of advice and support to tbose living with, and affected by cancer, 16. RII LATED PARTY DISCLOSURES There were no related party transactions for the year ended 3 1st March 2024. 17. COMPANY LIMITED BY GUARANTLI E The coinpany is limited by guarantee and does not have a share capital. The liability of each tnLSt¢e by way of their guarantee to the compally 15 to contribute a sum not ¢xc¢eding £1 towards the company's ass¢ts if so required on the willding up of the company. Page 25