Registered number. 05063463 Charity number: 1102964 SHEPWAY crrizENS ADVICE BUREAU (A company Ilmlted by guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SHEPWAY CITIZENS ADVICE BUREAU (A company Ilmltod by guarante8) CONTENTS Page Reference and administrative details of the Charity, its Trustees and Dlrectors and advlsers Trustees. report Independent examinerfs report Statement of flnanclal actlvltles 10 Balance sheet 11 Notes to the finan¢lal statements 12-26 The following pages do not fomi part of the statutory financial stalements: Datailed Statement of Financial Activities 27
SHEPWAY crrizENS ADVICE BUREAU (A company Ilmlted by guaranlee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARrrY. ITS TRUSTEES AND DIRECTORS AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees N Oakes J Keller A Petrie. Chaiman B Rainsley F Boland V Mckay C Gillen N Whitehead {appointed 27 April 2023} M Redmond {appointed 19 October 2023) Company reglstered number 05063463 Charity registered number 1102964 Reglstsred office Units 44 Prin5 Gate George Lane Folkestone Kenl CT20 1 RH Company secretary J Jonas Accountants Magee Gammon Chartered Accounlants Henwood House Henwood Ashford Kent TN24 8DH Page 1
SHEPWAY crrizENS ADVICE BUREAU (A Company Ilmlt•d by guardnte•) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report tog81her wilh lh8 financial stat8m8nts of the Charity for th8 year 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a Tnjstees, report and a directors, report under company law. The Trustees confinn that Ihe annual report and financlal statements of the charftable company comply with lh8 current statutory requirements. the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Practi (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Charity qualffies as small under section 382 of the Cornpanies Act 2006, the strategic report required of mediurn and large companies under the Companies Act 2006 {Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectlves and activities a. Pollcles and objectlves The CItRens Advice service aims to: - ProMd8 the adwce people need for the problems they face Improve the policies and praciices that affect people's lives CampaKJn locally and nats'onally lo influence govemment and organisations to bring about posittve change in policies and laws - Ensure that we respond to the needs of our corrrnunity The service provides free, independenL confidential and impartial advtC8 to everyone on their rights and responslbilrfies. It vaSues diversity. promotss equality arKI challenges discrimination. In setting objectives arKJ planning for actfvftles, the Truslees have gfven due ¢onslderatlon to general guldance published by the Chatity Commission relating to publc ben8fi¢ induding the guidance 'Public b8n8fit'. wnning a chartty {P82)'. b. Our vision Shepway Citizens Advice is an independent local charity. Our organisab'on is a mix of paid staff and volunteers, th volunteers being the key to the delNery of our corelgeneralist serrfice and paid staff delivering supervisory and specialist Seices. Wa work to help prevent the problems of inequalty of soclety and ensure that people are able to secure their rights bsr. Pmviding advice. infonnalion and guidance lo everyone in Folkeslone and Hythe and the surrounding areas in K8nt on their rights and responslbililies - Improving the policie5 and praCtIS that affect people's lives. c. Our objectlves To be proactive in: - Making athiic8 easity accesslble - Providing infonnation, advice and advocacy that is targeted to the needs of the community - Exercising a responsible infiuence over local national poiiGie5. To ensure the Servi Is., - Meeting the needs of th8 populalion of Folkestone & Hythe Dlstrlct Independenl - Fr88 of charge - Confidential Impartial - Easlly accessible Page 2
SHEPWAY crrizENS ADVICE BUREAU (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objecllves and actlvltles (continued) d. Social investments We provide general and specialist aJvic8 in th8 follijwing areas: welfare b8n8fits, d8bt, housing, ernplOnent and immigration. Additionally, we also provide repr8s8ntalion and ltigation s8riices for housing. In sng objectives and planning for activities. the Trustees have gNen due consideration to general guidance publlshed by the Charity Commission relating to public b8nefft and in particular to its supplementary public benefit guidance. . Our aims We aim to: - Focus on the needs cf the dient and the community Develop individuals through volunteering and trairllng In ord8r to assist in preventing: - Poverty Hom818ssness Discrimination - Unfair treatrnent f. Volunteers The Charity receives help and support in the fOn of voluntary assistance in advising the public 8nd administefing the Charity. Exduding Trustees. are also Volunteers. 7 volunteers have contributed work valued at an estimated £50,000 to the service during previous years. Following a loss of Volunteers during the pandemic are slowly buildlrrfJ up our volunteer CfJntlngent and volunteer work has increased but Is stlll not at pre-pandemic levels. The Charity is therefore continuing to prioriii58 th8 r8cruitrn8nt and training of further volunteers in order to retum to the level of volunteer work previous to the pandemic. Achlevements and perfonnance a. Charitable actlvltlos citlzens Advlce Shepway dealt with a total of 2.700 Glients in 2023124 helpng them to resolve 4,400 i55ues (2022123: 2,500 dients and 4.000 issues were also dealt wrth). 50Yo of thes8 problems were in relation to debt and welfare benefits. induding Universal Credit with a further 25% of problems relating to housing and employrnent problems. These problems not onty impact on the 50cio economic wellbeing of individuals but also on th8 communlty- so enabllng resldents to deal with them not only supports indivffiduals, but also supports the financial and social w811b8ing of communities. This has been particularty important due to the pandemic and cost of livlng increases. b. Investment perfonnance The Charlty does not currently hold any material investments. Page 3
SHEPWAY cmzENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance {contKnued) c. Internal and external factors The Charity is only too well aware of the financial pressures experienced by its major funders, and in view of this, has taken active m8asures to S8ek additional sources of fundng for its servTrc8S. Additional resources have been deployed since the balance sheet dat8 to recover outstanding work in progress on the LA4 contract and it remains a priority to continu8 to onsure r8covery of monies from the LAA is maxmised to maintain and support casmlow and minimise amounts owed. Financial review a. Golng concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charrty has adequate resources to contlnue In operational existence for the forese8ab18 future. For this reason. they continu8 to adopt th8 going conc8m basis in pr8paTvig th8 financial statements. b. Reserves policy Shepway CitiZ8ns Adwce is required lo ensur8 that free monies are available in each fjnancial year to m88t any reasonably foreseeable contingency. The Charity will maintain a projection of income for at least one year ahead, in accordance with the temis of Iwo of our main sponsor4 and will ensur8 that funding continues to be derived from as wide a variety of sources possible. In the event of the cessation of one or more funding streams, Shepway Cttizens Admce will tske the action nesSary to ensure the labIlIty of Ihe organisation, and to maintain the provision of a good quality advice service. Funding for future pay awards has also to be met from reserves as our tsvo main sources of fundlng. the Folkestone & Hythe District Council grant and the Legal Aid Agency civil contrac( are nol index linked. In reviewing the potential costs that ccmjld arise should a signrficant reduction in income be incurred, Ihe Trustees have determined that e, reserves should be maintsined equal to at least 3 months of nomal operating expenditure. The Charity is holding 4 months of free resee5 (2023: 3 months). . Deficit No funds were in deficit at the balance sheet date. d. Materlal Investments pollcy As requlred In its Micles, paragraph 3.19. in furtherance of its objectives. and for no other purposes, the Charity has the power to invest any monies not immediately required for its purposes in or upon such investments, securities or property as rnay be thought frt subject nevertheless to such ¢onditions and such consents as may for the lime being be imposed or required by law. Page 4
SHEPWAY cmzENS ADVICE BUREAU (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial position Income Incoming r8sources in th8 year were £234.820 {2023: £191.185) an incr8ase on the pr8vious year of £43,635. Major fiJnders.' LAA £93,926, Folk8slone & Hylhe DC £67,800, Tnjssell Trust £20.549, Rainbow Centre £14,880, UKSPF Projects £20.000 and Cltlzens Advlce £15.000. Main changes to the preOuS year were: £00 19 15 Trussell Trust Citizens Advice Legal Aid Aulhority UKSPF Acc8SS to Justice Total 20 -15 Grant concludad enditure Total experKliture incurred durirKJ the year was £247.861 (2023: £237,235). an increase on the prevlous year of £10.625. Main changes to the previous year were: £'ooo 14.8 Payroll vacancies during year Electricity Office overheads Other Fixed assets Total 112 Reserves Overati thls generated a deficit in the year of £13,041 (2023: a defic4t of £46,050). At 31 March 2024, total Reserves were £129.322 which is represented as unrestricted funds. Structurei governance and management a. Governing document The Charity is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 4 March 2004 and is a registered charity number 1102964. b. Methods of appolnlment or election of TTUStees Trustees. who are also directors of the Company. are recruite(I via a process which includes an interview with the Chair of the Board. They are then ètlher elected at an AGM or c(Fopt8d by the Trust88 Board. A s8parat8 process agreed by the Trustee Board is followed for election of the Chair. Page 5
SHEPWAY cmzENS ADVICE BUREAU (A company IlmEted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEARENDED 31 MARCH 2024 Structure, governance and management {continued) c. Organlsatlonal structuro and decislonwmaklng pollcles Shapway Citizens Advice is govemed by its Trustee Board which is r8sponsib18 for setting the strategic direction of the organisation and the policy cf the Charity. The Trustees cary the ultimate responsibilty for the conduct of Shepway CitenS Adwce and for ensuring that the Charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-104lay operation of the organisation to senior management. The Trustee Board annualty asse&%es and reviews ifs perfotrnance in order to ensure ivs effectiveness and achievement of it's objectives. The Trustee Board is independent from managemenL A register of members. interests is maintained at the registarad office and is available to the public. d. Policies adopted for tho induction and training of Trustees Newly appointed Truste85 are prowded with a comprehensive induction lo Sh8pway CAB through the provision of an induction pad(, visiis to the organisation and access to resources provided by Cttszens Advlce. e. Relatsd party relatlonshlps Shepway Citvzens Advice is a member of CttiZ8ns Advice, the op8rating name of the National Association of Citizens Advi, whith provides a framewoTk for standards of advi and casework rnanagement as well as monitoring progress against these stsndards. Operating poli(xes are independenlly determined by the Trustee Board of Shepway Citizens Advi in order to fulfil its charitable objectNes and comply the national membership requirements. The Charfty also Coperate$ and lialses wtth a number of other advlsory seNlces, local charities and social services departments on behalf of cfi8nts. Wh8re on8 of the Trustees holds the position of TrusteelDirector of another charlty, they may be involved in disrJJssions regarding that other charity but not In the ultimate decision- mthng process. f. Rlsk management The trusle8s have a dLty to idenlify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide rea$onablo assuran against fraud and error. Shepway Citizens Advice has worked on a Corporate Risk Management exercise. A risk management strategy 2nd risk regist8r are agr88d by the Trust88 Board. The Twstees reo)gnise that any major risks to which the charfty Is exposed need to be reviewed and systems put in place to mitigate those risks. To that end, Shepway CitiZ8ns Advice is continually monitoring and managing its risL re¥iewlng the corporate risk r8gist8r and 8nsuring action plans are in place to mitigate ts key risks. This was particularly the case over the past 2 years when additonal risk r8gist8r addendums and assassments were Incorporated Into the risk assessment process to Continual review and manage the risks associated wilh the pandemic. Induded in 8Xtemal risks is that of the loss of funding. The effects of this hav8 been minimised by th8 procedures in pla. v4hich have resumed in funding being secured from a variety of sources. The Charfty continues to seek to diversify tts fvnding sources. Intemal risks are minimised by the implementation of procedures for auihorisation of all transactions and projects and to ensure conststent quality of delivery of all operational aspects of th8 charitable Company. These procedures a perilIcallY reviaw8d to ensure that they still meet the needs of the Charity. Page 6
SHEPWAY CITIZENS ADVICE BUREAU (A company limited by guaranteo) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Structur•. govarnan¢o and manag8m8nt (eontlnued> g. Data Protection - Statement of internal control The local cItenS Advice trustee board oversee the inforniation security of all personal infomialon of our clients, staff. fund8rs and strategic partners that is processed. The local Citizens Advice hold joint rasponsibility for client data that Is held in our case management stM. with the national Citizens Advice Service. An infomialon assurance management team exists to ensure the CA)nfidentiality. integrity and availability of all personal and sensllve data Is maintained to a level vthich is compliant with the requirements the General Data Protecllon Regulation and Data Protection Act 2018. Plans for future perlods Futur8 Developments Future developmants are largoty goveTned by our Annual Raviews of our clnt and ttjmmunty profiles and our Community Advice Needs Analysis order to ensure that any developments are relevant to the environment In which we wor Worklng wlth others We will regularty assess opportunities working n patlnership wth other organisations, induding pursuing joint funding. Mulli Channel We continue to work to nLYease the channels thr(yJgh which clients can asS our service and though drop in services have remained suspended. pre booked face lo fa appointments have been resumed in order to ensure that those who need them can acces5 them. W8 will also continue to work to: Incrèase telephone access to local residents through continuing to deliver a local telephone adv5 ser as well as contributing to the d81ivery of the Citizens Advice national adviceline. . Extend our OlIne presence and access through our Fat)0k page and our website and continue to provide email advice. Outreach servtces Our commitment to developing outreach services in lh8 Marsh area continues but this has not been possible to achieve due to. so far. bèing unable to sacura tha necessary funding to support any such initiative. However. our Foodbank Advice Setvice now means that we regularty attand the Foodbank in Lydd on the Marsh and in other areas of the Folkestone and Hylhe districL We also provide advice by telephone and email to people living in these rurally isolated areas and priorilise appoinlments for people r))ming from the Marsh area. Other services I development areas other seNl¢e areas that we will aim to look at over the next three years will include: Eme in needs We will proactivety Monitor and assess emerging n88ds in order lo ensure we respond and change to provid8 services that are relevant and foojsed on the needs of people of Folkestone and Hythe and the surrounding areas. Maintainin and increasin access to our servi$ We will do this by continuing to prioritis8 the racfUitm6nt arKI training of volunt8ers into the service. Page 7
SHEPWAY CITIZENS ADVICE BUREAU (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future perlods (contlnued) Communications We have worked to increase the qualty and quantity of our extemal communicats'ons so that we can publicise legislative and policy changes in order to ensur8 W8 increase the number of people that we can reach and that we increase our profile in the community. We now have volunteers supporting this and hav8 developed press contacts within the local media. Members. liability The Member5 of the Charty guarantee to contribute an amount not exceeding £110 the assets of the Charty in the event of winding up. Statement of Trustees. responsibllltles The Trustees (who are also the directors of the Charity for the purposes of company law) are responslble for preparing the Trustees. report and the financial statements in ac(x)rdan(x wtth applirabla law and Unit8d Klngdom Accounting Standants (United lfjngdom Generally A(epted Accounting Practlce). Company law requires the Trustees to prepare financial stalements for each financial period. Under company law, the Twstees 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 Chaiity and of its incoming resour$ and application Df resources. including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to". select suitable accounting policies and then apply them Gonsislenty, obseNe the methods and principles of the Charities SORP (FRS 102)" make judgements and accounting estimates that are r8ascmable and prud8nt: state whether applicable UK Accounting Standards {FRS 102) have been followed, subject to any material departures disclosed and explained in the financaal ststements- prepare the finanal statements on the going concem basis un18ss ik is inappropriate to presume that the Charity will continue in business. The Trustees are resF)onsible for keeping adequate accounting records that are sufficient to show and explain the Charitys transactions and disclose wtth reasonable a¢curacy at any time the financial position of th8 Charity and enable them to 8nsure that th8 financial statements comply wth the Companies Act 2006. They are also responslble for safeguarding the assets of the Charity and hence for tan9 reasonable steps for thè prevention and detectlon of fraud and other IrrlaritieS. Approved by order of the members of the board of Twslees on 25 July 2024 signed on their behalf by: A Petrfe {Chair of TTUStees) Page 8
SHEPWAY crrizENS ADVICE BUREAU {A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Indep8ndent examinerfs report to the Trustees of Shepway Cltizens Advlce Bureau fthe Charlty'} I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 Marth 2024. Responsibilities and basis of report As th8 Tnjstees of the Charity (and lis directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with th8 r8quir8ments of th8 Compani8s Act 2006 (Ihe 2006 ACV). Having satisfied rnyse thal the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examlnation of the Charivs accounts carried oul under section 145 of the Chartbes Act 2011 (8 2011 ACV). In carrying OLrt my examination I have foll0yd the Directions given by the Charty Commission under section 145{5){b) of the 2011 ACL Independent examlnerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the 8xaminalion gNing me cause to believe: accounting records were not kept in resped of the Charlty as requlred by sectlon 386 of the 2006 Act. or the accounts do not accord with those records: or th8 accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the acnts give a Irue and fairf view which is not 8 matter considered as part of an independent examination; or the accounts have not been prepared in accordan with Ihe melhods and principles of the Stalement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their a¢Unts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have Come across no other matters in conneclion with the examination to which att8ntion should be drawn In this report In order to enable a proper underslanding of the accounts to be reached. This report is made solely to the Charws Trustees. as a body. in aGGordanGe with Part 4 of the Charltles (Accounts and Reports) Regulallons 2008. My work has been undertaken so that I mlght state to the Charity5 Trustees Ihose matters l am required to state to them in an independent examinerfs report and for no oth8r purpose. To the fullest exient pennitted by law. I do not accept or assume responsibility to anyone other Ihan the Charity and the charit5 Trustees as a body. for my work or for this report. Signed: Dated: 25 July 2024 Roland Pary FCA Magee Gammon. Chartered Accounlants. Henwood House. Henwood, Ashford, Kent, TN24 8DH Page 9
SHEPWAY CITIZENS ADVICE BUREAU (A company limitod by guarantee) STATEMENT OF FINANCIAL ACTivrriES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 R•stricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Investments 2,220 161.726 1,993 2.220 230,607 1.993 2,669 187.055 1.461 68.881 Total income 165,939 68.881 234.820 191.185 Expendlture on: Charttable activilies 197,432 50,429 247.861 237,235 Total expendlture 197,432 50,429 247,861 237,235 Net movement in funds (31,493) 18,452 (13,041) {46,050) Reconclllatlon of funds: Total funds brought forward Net movement In funds 142.363 (31,493) 142.363 (13.041) 188.413 (46.050) 18N52 Total funds carried forward 110,870 18,452 129.322 142,363 The Statement of financial activibes indudes al gains and losses recognised in the year. The notes on pages 12 to 26 fo part of these financial statements. Pag8 10
SHEPWAY CITIZENS ADVICE BUREAU (A company limited by guaranteo) REGISTERED NUMBER: 05063463 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Nots Flxed assets Tangible assets Current assets 11 1,038 1.101 Debtors Cash at bank and in hand 12 105A82 32.081 71.540 94.436 137.563 165.976 Creditors: amounts falh'ng due wilhin one year 13 (9.279) (24, 714) Net current assets 128,284 141,262 Total net assets 129,322 142,363 Charlty funds Restricted funds Unr8Strirted funds 15 15 18,452 110,870 142.363 Total funds 129.322 142,363 The Charity was entitled to exemption from audil under section 477 of the Companies Act 2006. The members hav8 not required the company to obtain an audit for the year in question in accordance with section 476 of Companles Act 2006. Th8 Trustees adfnowledge their responsibilities for complying with the requirements of the Act wEth respert lo accounting records and preparation of financial statsments. The financial statements have been prepared In accordance with the provlsions applicable to entities subject lo the small compani8s regime. The financial statements Vre approved and authorised for issue by the Trustees on 25 July 2024 and signed on their behalf by. A Petrle {Chair of Trustees} N Oakes Th8 not8s on pages 12 to 26 forni part of these financial statements. Page 11
SHEPWAY CITIZENS ADVICE BUREAU (A company limited by guaranto8) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Infomiation Shepway Citizens Advi Bureau is a prlvate company Imited by guarantee. The company registration number is 05063463 and the registered office is Units 4-6 Princes Gate. George Lane. Folkestone, Kent. England, CT20 1 RH. Accounting policies 2.1 Basls of proparatlon of financial Statements The financial statements have been prepared in accordan with the Charities SORP (FRS 102) - Accounting and Reporting by Charittes: Ststement of Recommended Practice applicable to tharities preparing their a¢wunts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effectNe 1 January 2015). the Finanaal Reporting Standard applicable kn the UK and Republlc of Ireland {FRS 102) and the Companles Act 2006. Shepway Cilizens Advlce Bureau meets the definition of a PLI)Ilc benefit entity under FRS 102. Assets and liabilities are initially recoynised at historical cost or transaction value unless otheis8 stated in the relevant accounting policy. 2.2 Income All income is recognised OTh the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. For legacies, entitlemant is laken as the earlier of the date on whith 8ither. the company is awar8 that probate has been granted, the estate has been finalSsed and notlfication has been made by the executor{s) to th8 Trust that a distribution will be made. or when a distribution is r8ceiv8d from the estate. Receipt of a legacy, in whole or in parL is only considered probable when the amount can be measured reliably and the company has been notified of the executols Intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the lte{la for income recognition have not been met, then the legacy is Ireated as a Contingent asset and disclosed if material. Donated ServIS or facilities are recognised when the rnpanY has conlrol over the item, any condrt]'ons associated with the donated item have be8n met, the rec8ipt of economic benefft frorn the use of the company of the ilem is probable and that economic benefrt can be measured reliably. In accordance with the Charities SORP (FRS 102). the general volunt88r tim8 is not recognised and refer to the Trustees, Report for MO Informatlon about thelr contributlon. On recelpt. donated professlonal seMces and facillttes are reCOlsed on the basls of the value of the gift to the Charity %*thich is the amount il VA)uld have been willing to pay to obfain services or faclllties of equlvalent economic benefft on the open marke(. a corresponding amount Is then recognised in expenditure in the period of receipL Income tax recov8rabl8 in relation to donations r1Ved under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investrnent income is recognised at the time the inveslm8nt income is rl¥able. Page 12
SHEPWAY CITIZENS ADVICE BUREAU (A company Ilmlted by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (contlnuedl 2.3 Expenditure Expenditure is recognised once there is a18gal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of e(0M1 benefits will be required in sett18m&nt and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each actNty are made up of the total of direci costs and shared costs, including suppori costs Invoed In undertaking eath activity. Direct costs attributable to a slngle aCtIty are allocated dlrectly to that activity. Shared costs which contribute to more than one activity and support msts which are not attrsbulable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and dapreciation charges allocated on the portion of the asseys use. Costs of generating funds are costs inujrred in aitrdcting volurrtary income. and those incurred in trading activiti8s that rais8 funds. Charitable activities and Gov8rnance costs are costs incurred on the companls operations. indudlng support costs and costs relating lo the govemanc8 of th8 company apportioned to charitable activitie& All expenditure is indusive of irrecoverdble VAT. 2.4 Irrtorest recelvable Interest on funds hekl on d8POSit is inCded en re¢elvable arKI the amount can be measured reliably by the Charity. this is normally upon notification of the interest paid or payable by the institub'on wilh whom th8 fvnds are deposited. 2.5 Taxatlon The Charity is considered to pass the le5ts set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore rt meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the Chaiity is potentialty ex8mpt from taxation in respect of income or capital gains receNed within categories Vered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of th8 Taxation of Chargeable Galns Act 1992. to the extent that such income or galns are applied exclusively to charitable purposes. 2.6 Tanglble Ilxed assets and depreclallon Tangible fixed assets costiNJ £500 or more are capitalised. A revlew for impairment of a fixed asset is carried oirt if events or Changes In CirmstanCeS indlcate that the carrying value of any fixed assel may nol be r8coverabl8. Shorttalls belween the carying value of fixed assets and dieir recoverable amounts are recognised as impairments. Impairment losses are recognised in the Slatem8nt of FanCIal Activities incorporating the Income and Expenditure AccounL Tangible fixed assets are carried at cost. net of depr8C4ation and any provision for impairm8nt. Deprecial'on is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value. over their expect8d useful lives on the following bases: Property improvements Plant and machinery - 20% straight Ine basis 330h and 20% straight I8 basis Page 13
SHEPWAY CITEENS ADVICE BUREAU (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.7 Debtors Trade and other debtors are recognised at the settlement amount afier any trade discount offered. Prepayrn8nts are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand indudes cash and short-term highly liquid inveslmants with a short maturity of three m¢Jnths or less from the date ot acquisition or opening of the depDSIt or similar account. 2.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past even( it is probable Ihat a transfer of economic benefit will b8 required in settlement. and the amount of the settlement can be estKnat8d reliably. Liabilities are recognised at the amount Ihat the Charity anticipates it wll pay to settte the debt or th8 arnount it has received as advanced paents for the goods or servlces it must provide. Provisions are m8asur8d at the b8St estimate of th8 amounts required to settle the obligatDn. Where the effect of the tim8 value of money is material, Ihe provision is bas8d on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks speofic to the Ilabllity. The unwinding of th8 disUnt is recognised within interest payable and similar charges. 2.10 Financial instruments The Charity only has finanaal assets and financial liabilities of a kind that qualfy as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thetr settlement value with the exception of bank loans which are subsequently measured at amortised cost usirKJ the effective interest method. 2.11 Operatlng leases Rentals paid under operating leases are Charged to the statement of financial activiiie5 on a straight line basis over the lease term. Beneffts receed and receivable as an Incentive to sign an operating lea5p are recognlsed on a straight line basis over the period untiI the date the rent is expected to be adjusted to the prevailing market rdte. Page 14
SHEPWAY CITIZENS ADVICE BUREAU (A MpanY Ilmltod by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng pollcles (Contlnued) 2.12 Pensions The Charity operates a defined contribution penston scheme and th8 pension charg8 repres8nts th8 arnounts payable by the Charity to the fijnd in respect of Ihe year. 2.13 Fund accounting General fijnds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objeclives of the Chafity and vthich have not b8en designated for other purposes. D8signated funds comprise unrestricted funds Ihat have been set aside by the Trustees for particular purposes. The aim and use of eath designated fund is set out in the note5 to th8 financial statements. Restricted funds are fvnds which are to be used in accordance specific restrictions imposed by donofs or which have been raised by Ihe Charity for particular purposes. The costs of raising and admintstering such funds are charged against the specific fund. The aim and use of each restricled nd is set out in the notes to the financial slatements. 2.14 Irrecoverable VAT The Bureau recovers VAT in accordance with an agreed partial exemption m81hod. Income from donations and legacles Unrestrf¢ted funds 2024 Total funds 2024 Total funds 2023 Donatlons 2,220 2.220 2.669 Total 2023 2,669 2,669 Income from charltable actlvitles Unrestrlcted Restrfcted funds funds 2024 2024 Total funds 2024 Total runds 2023 Community Adv & InfLYmation 161,726 68,881 230,607 187.055 Total 2023 157.585 29.470 187.055 Page 15
SHEPWAY CITIZENS ADVICE BUREAU (A Company Ilmlt•d by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Investment Income Unrestricted fvnds 2024 Total funds 2024 Total fvnds 2023 DepDSIt account interest 1.993 1,993 1.461 Total 2023 1,461 1,461 Anatysis of expendlture on charltable actlvltles Summary by fund type Unrestricted Restrictsd funds funds 2024 2024 Total 2024 Total 2023 Chaiitable Aclimties Expenditure on g8neratirffJ voluntary income 195.218 2.214 50.429 245.647 2.214 235,202 2,033 Total 2024 197,432 50,429 247,861 237,235 Total 2023 187,627 49,608 237,235 Summary by expendllure type staff costs Depreciation Other costs 2024 2024 2024 Total 2024 Total 2023 Charitable Adivitses Expenditure on generating voluntary income 1,396 9)3 245,647 235,202 2.214 2,214 2.033 Total 2024 192,610 903 54.348 247,861 237,235 Total 2023 176.935 3, 032 57.268 237,235 Page 16
SHEPWAY cmzENS ADVICE BUREAU (A company limtted by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysis of expendlture by actlvltles Activities undertaken directty 2024 Total funds 2024 Total funds 2023 Charitsble Activities Expenditure on generating voluntsry income 245.647 2.214 245,647 2,214 235.202 2.033 Total 2024 247.861 247.861 237.235 Total 2023 237.235 237.235 Analysis of dirnct costs Charitable Actlvftles 2024 Voluntary Income 2024 Total funds 2024 Total funds 2023 Slaff costs Deprecialion Community Advic8 & Infonnation Governan costs 188,779 J3 52.248 3,717 2.214 190,993 903 52.248 3,717 175.448 3.032 55.418 3,337 Tolal 2024 245.647 2,214 247,861 237.235 Total 2023 235,202 2,033 237,235 Indèpendent examinerfs remuneration Th8 ind8p8ndent examiners remuneration amounts to an irKlependent examiner fee of £2,100 {2023 - £1,850). Page 17
SHEPWAY CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Staff costs 2024 2023 Wages and salaries Soaal security costs Other pension costs 181,112 8,233 3,265 166,051 8,297 2.587 192,610 776,935 The average number of persons employed by the Charity during the year was as follows: 2024 No. 2023 No. Charflable activftles 10 The average headcount expressed as fulktim8 equiva18nts was: 2024 2023 Charitable activities No employee received rem)eratiOn amountlng to more than £60,000 either year. 10. Truslees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Twsta8 expanses hav8 baan incurred (2023- £NIL). Page 18
SHEPWAY CtrEENS ADVICE BUREAU (A company limiled by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. Tangible fixed assets Property Improvements Plant and machlnery Total Cost or valuatlon At 1 April 2023 Addilons 34.009 84.741 118.750 At 31 March 2024 34,009 85.581 119.590 Depreciallon At 1 Aprll 2023 Charge ftjr Ihe year 34,009 83.640 903 117,649 903 At 31 March 2024 34,009 84.543 118.552 Net book value At 31 March 2024 1,038 1,038 At31 Mah 2023 1.101 1. 101 12. Debtors 2024 2023 Due within one year Prepayments and aGGrued income 105.482 71,540 Page 19
SHEPWAY crrizENS ADVICE BUREAU (A company limited by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Creditors: Amounts falllng due within one year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 5,179 2,000 2,100 6,564 1.300 16,850 9,279 24,714 14. Financlal Instruments 2024 2023 Financlal assets Financial assets measured at fair value Ihrough income and expenditure 32,081 94,436 Financial ass8ts m8asured at falr value through income and expendlture comprlse cash and bank balances. Pag8 20
SHEPWAY CITIZENS ADVICE BUREAU (A Company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statement of funds Statement of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Income Expenditure Unrestricted funds Deslgnated funds Designated Property maintenan Furrtj Designated Legal Services Fund 16,395 57.848 (903) (126.708) 15A92 25.066 93.926 74243 93,926 (127,611) 40,558 General funds General Funds 68.120 72,013 {69,821) 70,312 Total Unrestrfcted funds 142.363 165.939 (197.432) 110.870 Rastrlcted funds TNssell Trust Ralnbow Centre - mney matters Ciknzens Advice UKSPF 20.549 13.332 15,000 20.000 {20.549) {13.332) (15,000) (1.548) 18A52 68.881 {SOA29) 18,452 Total of funds 142J63 234,820 (247.861) 129,322 Page 21
SHEPWAY crrizENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Statement of funds (contlnued) Statement of funds - prior year BalanGe at 31 March 2023 Balance 81 1 nI 2022 Trdnsfars in/out Income Expenditure Unrestricted funds Designated funds Designated Property Maintenance Fund Desiqnated Legal Services Fund 19.42T (3,032J 16,395 73.265 89,785 (105.202J 57,848 92.692 89.785 (108.234J 74.243 General funds General Funds 76.315 71,930 (79,393J (732) 68.120 Total Unrestrlcted funds 169.007 161.715 (187.627J 1732J 142,363 Restrlthd funds Community Justic8 Fund Folkestone & Hhe DC Covid Support Trussell Trusl Ralnbow Centre - rrx)ney matters 14.406 14,670 {29.076) (5,000) (1,924) 1.924 12,876 (13.608) 732 19,406 29,470 (49.6Q8) 732 Total of funds 188.413 191. 185 (237.235) 142,363 Page 22
SHEPWAY cmzENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE Fll+lANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. Summary offunds Summary of funds - current year Balance at 31 March 2024 Balancg at 1 April 2023 Incom8 Exp8nditure Designated funds General fijnds Restrlcted funds 74.243 68.120 93.926 72,013 68,881 (127.611) (69,821) (50,429) 40.558 70.312 18,452 142.363 234.820 (247,861) 129,322 Summary of funds - prior y8ar Balance at 31 March 2023 Balance at 1 Ap1712022 Transfers in/out Income Expenditure Designated funds General funds Restricted funds 92,692 76,315 19.406 89. 785 71,930 29,470 (108.234) (79,393) (49,608) 74,243 68,120 (732) 732 188.413 191,185 (237,235) 142,363 17. Anatysls of net ass•ts between funds Anatysls of net assets between funds • current period Unrestri¢ted Restrfthd funds funds Total funds 2024 2024 2024 Tangib fixed assets Current assets Creditors due within one sear 1.038 119.111 {9.279) 1,038 137,563 (9,279) 18.452 Total 110,870 18.452 129.322 Page 23
SHEPWAY cmzENS ADVICE BUREAU (A company limited by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Analysis of net assets between funds {continued} Anatysis of not assets between funds - prior porlod Unrestricted funds 2023 Total funds 2023 Tangible ed assets Current assets Creditors due within one year 1.101 165.976 (24.774) 1.101 165.976 (24.714) Totsl 142.363 142,363 18. Penslon commltmerts The company operates a defined contribution pensron schem8. Th8 ass8ts of the schema are held S8parately from thos8 of the company in an independently administered fund. The penslon cost charge represents contributions payable by the company to the fund and amounted to £3.265 {2023.' £2.587). ContrlbLrtlons totalling £Nil (2023: £NK) were pardble to the fund at th8 balanc8 sh8et date and are included in creditors. 19. Operating lease commitments At 31 March 2024 the Charity had commitrnents to make future minlmum lease pa5rynents under non- cancel]able operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than S years 13.913 22,028 13,913 35,940 35.941 49.853 Page 24
SHEPWAY crrizENS ADVICE BUREAU (A company limitsd by guarant88) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Related party transactions Shepway Cltlzens Advi Bureau is a member of the National Association of Citizens Advice Bureaux {'Citizens Advice,). 2024 2023 Professional services, induding membership fe85 Publications Insurance 2,290 107 2,613 218 1.100 642 3,039 3,931 21. Controlllng party The Trustees are the ultimate ¢ontroUing parties. Purposes of deslgnated funds Pro Maintena Designated by the Trustees for Ihe purposes of major Maintenan and refurbishment of the charity premises which is not provided for through core funding. Le al Sarwces Fund Designated by th8 Trustees for the purpose of Housing Staff personnel and overhead costs relating to work undertaken to meet our Legal Aid agency contract. Page 25
SHEPWAY CITIZENS ADVICE BUREAU (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23. Purposes of restrict8d funds estone and H e Dlstrict Council - UKSPF Grarrt This grant has been provided to support a resourc8 whith provides advice and support in relation to linking communty hubs and their activities. The ndIng amount provided is £20,000. Citizens Advice The purpose of the project is to enable local offices to support or increase direct service delivary capacty. to help through the cost-of-living crisis. The use of the funding is to continue to employ a paid Training Superrfisor to continue to recruit and train volunteers. Trussell Trust- She wa Foodbank Parln8rshi This Is a new project funded by the Trussell Trust and working with Shepway Foodbank to provide an income maxÉnwsation service to Foodbank users. The fundlng is for £24.391 per year and fijnds a part time Advlser to deliver Benefits and Debt advice to assist people in maximising Iheir incomes. managlng their money and duCe their reliance on Foodbank provision. The funding has been awarded from March 2022 for up to 3 years. Rainbow Centre - Mone Matters This is a restricted project originally funded by the Folke5tone Rotary Club, which handed over the proj8Ct lo the Folkestone Rainbow Centre to fund and administer in the latter part of 2021. The partnership agreement is for funding to be £1.073 per month to provide Money AdMc8 S8tvices via employment of a part time Money Adviser. Page 26
SHEPWAY crrizENS ADVICE BUREAU (A Company Limited by Guarantee) DAlLED STATEMENT OF FINANCIAL AcTlEs FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMEp¥rs Donations andlogacles Donatlons 2,220 2.669 Investment income Deposit account interest Charitable activities Folkestone and Hythe Dlstrict Council Legal Atd Agency UKSPF Citizens Advi Money Matters Communty Justi Fund Trussel Trust 1.993 1,461 67,800 93.926 20,000 15,1)00 13,332 67,800 89.785 12,876 14,670 1,924 20,549 230,607 187,055 Total incoming resources EXPENDITURE 234,820 191,185 Ra151ng donatlons and legacles Wages Soaal securtty Per)sions 2.081 95 38 1,908 95 30 2.214 2.033 Charitablg activities Wages Social security Pensions RenL rates and insuranc8 ght and heal Telephone Postage and stallonery Sundries Training Travel Cleaning. repairs and mntananCe Computèr and uIpMent Publications Legal fees Depreciation Offad assets 177,510 8,069 3,200 18.205 6,750 4.580 5.531 3,259 221 1.192 3.675 5.749 78 3.008 903 162,749 8,132 2,535 18,805 4,860 5,274 5,375 5,192 1,073 1,551 3.552 5.930 62a 3,177 3,032 241.930 231,885 Support Costs Governance Costs Wages Social sacurity Pensions Independent 8xamln8rfs remuneration 1.521 69 27 2.100 1,395 70 22 1,850 3.717 3,337 Total resour¢es expended 247.861 237.235 Not income (13,041) (46.050) Thls page drts not ffm Part of the statt[tY financial siaternents Page 27