Charity registration number 1103630 Company registration number 05056654 (England and Wales} BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU LEGALAND ADMINISTRATIVE INFORMATION Trustees Peter Wiseman (Chair) Jim Simmons (Treasurer) JasvinderThiara Jane Hill Jeff Hunt Keith Francis Jill Krusts John Lynch Graham Nuttall (Wice Chair) Lee Rayson Secretary Bill Basra Charity number 1103630 Company number 05056654 Registered office Gethin House. 36 Bond Street Nuneaton England CV114DA Auditor Spencer Gardner Dickins Audit LLP 3 Coventry Innovation Village Cheetah Road Coventry CV12TL
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU CONTENTS Page TTUStees' report Statement of trustees, responsibilities Independent auditor's report 9-11 statement of financial activities 12 Balan sheet 13 Statement of cash flows 14 Notes to the financial statements 15-26
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees are pleased to present their annual directors, report together with the combined financial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements have been prepared in accordance wtth the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities-. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectives and activities Objectives and activities for the public benefit The aims of the service are to provide the advrce people need for the problems they face and to improve the policies and practices that affect people's lives. The service is provided free of charge and is confidential, impartial and independent. The bureau values diversity, promotes equality and challenges discrimination. These activilies are undertaken to further our charitable purposes and with regard to Charity Commission guidance on public benefrt. The trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities the charity should undertake. The tnain area of charitable activity is the provision of generalist advice and information services to those living and working in the Boroughs of Nuneaton & Bedworth, Rugby, Warwickshire and SLsrrounding areas In addition to this BRANCAB also provides (xsework services tor those wilh complex welfare benefits and multiple debl issues as well as financial capability training to the community. The bureau tradilionally offers generalist advice both face to face, by telephone and by email. Face to fa advice is available through the bureau's drop in advice service at the main offIS in Congreve Walk, Bedworth, Cheslnut House, North Street Rugby and Nuneaton Town Hall, Coton Road. Nuneaton. CV11 SAA. Outreach provision is also available within parts of Nuneaton, Bedworth and Rugby through specific project funding. The generalist advice seNice is operated by volunteer, fully trained, generalist advice workers who ajways have access to an advice session supetvisor during each advice session. The seNice is funded by Nuneaton & Bedworth Borough Council, Rugby Borough Council and Warwickshire County Council. Achievements and perfomiance Quality Assurance Our quality of advice is monitored constantly by national Citizens Advice. BRANCAB is recognised as an Investor in People organisation, originally achieved in 2005 and reviewed every three years. The last review, undertaken in Februarylmarch 2024. saw BRANCAB achieve Gold status. In addition to this BRANCAB holds the Advi Quality Slandard at Generalist Level for generalist advice and the Specialist Quality Standards for both Debt Advice and Welfare Benefits.
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievement and Perfomiance- Range of Services 2023-2024 rvice Description Fundèr eneralist ervice Advic General social welfare law advice an infomation delivered face to face, elephone, email and web channels Nuneaton & Bedworth Borough Council Rugby Borough Council twickshire Coun Council Money Advice an Pension Service Debt ervi¢e Casewo Debt casework for people with multiple debts ncluding support with personal insolvenc ptions pecialist errfice Benefits Supporl lo assist Warwickshire residents t maximise their welfare benefits income and allenge benefft decisions including representstion at appeals twickshire Council Coun Breakthrough Programme Partnership project works support servi$ to nable unemployed and economically inactive eople living in Coventry and Warwickshire t vercome their problems, develop their skill o move people closer to paid employment Big Lottery Communi Fund and Europea ocial Fund Orbit-welfare Benefits dvice Project Delivering Welfare Beneffts Advice to Orbi enants. Orbit dvice in Foodbanks Providing outreach advice and support t sers of foodbanks in Rugby Providing outreach advi and support t residents of Hill Top, Nuneaton Providing outreach advice and support t users of WCC funded community pantries in amp Hill. russell Trust dvice _ in Hill To Nuneaton dvice in Communi Pantries Big Lottery rwickshire Council Coun
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievement and Perfomiance Client statistics Clients (Of which Issues 11,387 1,878 3,044 Quick Contacts Channel Contact Channel Other Ideo Call Letter In person eb Chat Email dviceline Phone elephone dmin otal /0 of activities ctivities 1.817 14 ,187 .577 19/ 8,168 ,412 .938 ,939 5,057 13/ 11° 100 Issues ssue Category Benefits & tax credits Beneffts Universal Credit Charitable Support & Food Banks Consumer goods & serv[$ Debt Education Employment Financial setvices & capability GVA & Hate Crime Number 11,237 ,434 ,688 1,093 10,335 128 1.345 ,896 72 3/ 40/. 0/0 F.111 Heallh & communit Housing Immigration & asylum Legal Other Relationships & famil care 510 ,632 85 1,061 96 1,557 47 01 ,427 .044 ravel & transport Utiltties & communications rand Total 1% 1001fi1
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Client statistics (continued} Outcomes Income gain Re-imbursements of services and loans Debts written off Repayments rescheduled other otal mount 8.550,524 210,079 4,814,974 80,638 2,697,625 16,353,840 Note: There are two measures of direct benefits to individuals. The first, detailed above, is based on actual recorded outcomes, showing the aggregate of individual incidents of outcomes being achieved and documented at the time these are known durtng the year in question. The second is a proxy measure derived from the Citizens Advice HM Treasury-approved financial modelling tool. which provides an estimated financial impact. This proxy measure, alongside the societal and fiscal benefits (£4.03 million in government savings and £28.42 million in public value), is referend in our Impact Report (2023124) for the same period. Client Profiles Ages ranged from 16 years to 99 years: 60% were female and 40/0 male.. 57 % were disabled or had a long term medical condition., 140A of clients were from black and minority ethnic backgrounds Financial review Core funding enables us to provide our generalist advi service and helps to provide leverage to attract other funding and projects. This is provtded by Warwickshire County Council. Nunealon & Bedworth Borough Council and Rugby Borough Counal. -our local authority" funders are facing financial challenges due to the current difficult economic dimate and future core fvnding of advice SeICeS is subject to or threatened with further cuts. This makes our service more vulnerable and where levels of future core funding are unrtain it is more difficult to forward plan and additionally makes Ihe bureau a less attractive option to other potential fvnders. The competition for funding new projects has increased considerably as other not for profft organisations are also looking to plug funding gaps with new projects I services or try to find continuation funding from new sources. However, the bureau has SUSSIu11Y obtained funding from various projects and these have contributed substantially to the surplus arising in the year. As these projects are short term the benefit will not be sustainable in the long temi. In addition, our ever increasing reliance on IT and the cost of maintaining neOrked computer systems is an increasing cost which promsion is not made through our principle funders and this needs to be a consideration for future funding negotiations. The Trustee Board review the risks of financing of the organisation and expenditure on an ongoing basis and Set their reserves policy accordingly. see below. Investment Policy Apart from relaining a prudent amount in reserves each year most of the bureau's funds are to be spent in the short term so there are no long term inveslments. The trustee board aim to attract the maximum amount of interest that can be obtained from the reseNes and review bolh the level of reserves and investment policy on an annual basi5.
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy The Twslee Board has considered the bureau's requirements for reseNes in light of the main risks facing the organisation and following Charity Commission good practice guidelines. The Trustee Board recognises the importance of establishing the long term financial sustainability of the organisation, especially in an environment that relies on short term, time limited funding. Members believe one way of achieving this is to establish reserves to enable the organisation to survive the vagaries of short temi funding. Consequently the Trustee Board is required to ensure that monies are available for each year to meet any reasonable unforeseeable contingency. They believe that an amount of at least 12 months operating costs which equates lo £609.628 based on operating costs for the annual year 202312024 will be adequate. They have also designated funds for the following purposes, IT equipment renewals and upgrades, building repairs and staffing costs (mainly redundancy SIs) as well general contingencies. The bureau holds total reserves of £708,794 {2023 £628.354) at 31 March 2024 of whith £nil (2023 £nil) are held for restricted purposes. Included in unrestricted reserves is £20,000 (2023 £20,000) which has been designated specrfically frjr the purpose of replacing IT equipment. It is not possible to specify when this expendtture is likely to be incurred. Long temi Investments Surplus funds are invested in short lerm bank deposit accounts. Risks The Bureau is not exposed to pri or credit risk and in view of the substantial bank deposits there are no liquidity or cash flow risks. Plans for Future Periods Our future strategic plans can be summarised under 4 categories.. heme How will we achieve them ss & Quality Maintaining and Improving our aCsS channels so thal we are able to deal with mor lients in a manner that ensures that they receive dear, accurate, high quality and mprehensive advice. Increasing Capacity hrough an increased number of volunteers and a focus on recruitment. training. evelopment and well-being. Ensuring that our IT infrastructure is fft for puOSe. Collaborative Working Maximising joint opportunities with partners especially North Warwickshire and South atwickshire Citizens Advits. Working together to ensure that we advocate for ou lients on issues that are of ¢ommon concem and particularly those who ar disadvantaged. hrough maintaining and diversrfying core local funding. ensuring continuation of th elephony servi and shared posts exploring shared SeNiS where possible, seeking to achieve balanced budgets and reviewing our physical assets against ou business needs. Sustainability
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Governing Dotument The organisation is a charitable company limited by guarantee, incorporated on 1st October 2004. The company was established under a Memorandurn of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In Ihe event of the company being wound up members are required to Gontribute an amount not exceeding £1. During the financial year 2006t7 the bureau changed its name to Bedworth, Rugby & Nuneaton Citizens Advice Bureau, wtth the approval of the Charity Commission and Companies House in readiness of the amalgamation with Rugby Citizens Advice Bureau. The Memorandum and Articles of Association were also changed and approved to reflect the changes caused by the amalgamation. The Memorandum and Articles ofAssociation were updated and approved in 2021. The trustees. who are also the directors for the purpose of company law, and who Seed during the year and up to the date of signature of the financial statements were: Peterwiseman (Chair) Jim Simrnons reasUrer} Jasvinder Thiara Jane Hill Jeff Hunt Keith Francis Jill Krusts John Lynch Graham Nuttall (Vice Chair) Lee Rayson Recruitment and Appointment of Trustee Board Members The directors of the charity are also charity trustees for the purposes of chartty law and under the company's Articles are known as members of the trustee board. Under the requirements of the Memorandum and Articles of Association the members of the trustee board are elected to serve ft)r a period of 3 years after which they must be re-elected at the next Annual General Meeting. The bureau seeks to ensure that trustee board members reflecl the diversty of the community it serves. The bureau seeks to recruit new members who have the ability to make an effective contribution to the board through their skills. knowledge and experience. as well as having a proven interest in the work of the charity. Trustee Induction and Training The trustees are familiarised with the practical work of the charity and are encouraged lo attend the annual Planning & Development Days held each year to work alongside bureau workers to develop future objectives. In addibon to this new trustees are invited to attend an induction meeting wilh Ihe Chief Executive Officer to familiarise themselves with the charity and the context within which it operates. This covers.. The obligations of trustee board members The main documenls which set out the operational framework for the charity including the Memorandum and Articles. Resourcing and the current financial position as laid out in the latest published accounts and annual budgets Future business plans and objectives E-Leaming induction modules (including confidentiality) Information for trustee board members is available locally through a Trustee Board Information Pack and nationally on Citizens Advice's Intranet. Citlzens Advice also publishes self-study training packs on a variety of topics relevant to the trustee board and these are distribuled to trustees. In addition to this there are various opportunsties to attend trustee development days organised locally by Cittzens Advice.
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Risk Management The Trustee Board has conducled a review of the major risks to which the charity is exposed. The risk register has been established and is updated at least annually. Where appropriate systems or procedures have been established to mitigate the risks the chartty faces. Intemal conlrol risks are minimised by the implementation of authorisation of all transactions and projects. A disaster recovery plan has also been prOdUd and is updated at least annually. Procedures are in pla to ensure Complian with health and safety of staff, volunteers and visitors to the bureau. Oryanisational Structure The trustee board meets quarterly and is responsible for the stralegic direction and policy of the charity. Members are from a variety of professional backgrounds relevant to the work of the charity. The Chief Executive Officer (who is also the company secretary and takes minutes), the Operations Manager and Advice Services Managers attend board meetings without voting rights. A scheme of delegation is in place whereby the Chief Executive Offir (CEO) has the day to day responsibilty for the provision of services. The CEO is responsible for ensuring the charity delivers the services specified and that key performance indicators are met as well as ensuring progress to meet the strategic setvice development objectives detailed in the Business and Development Plan. The Operations Manager has oversight of the work of the Advice Services Managers who have day lo day responsibility of Ihe operational management of the Servi and have geographic and thematic responsibilities. This includes individual supervision and ensuring that the team continues to develop their skills and working practices in line wilh good practice. Staffing The bureau has 33 paid staff. both full and part time consisting of 1 x Chief Executtve offir, 1 x Operations Manager, 4 x Advice Services Managers, 2 x Finan Administrator, 2 x Breakthrough Project Administration and . 23 Advisors that conslst of technical supervisorslcaseworkers, caseworkers and outreach I project funded advice workers. The bureau team also consists of approximately 83 volunteers. the majority of whom are trained generalist advisers working on average two days per week each. The value of volunteering based on paid equivalent roles - equates to over £793.544 per annum. Without the skill and dedication of the volunteers the bureau would not be able to provide its essential Servi lo the community. Related Parties BRANCAB is a member of the national organisation, Citizens Advice. the national charity (charity number 27905n which sets out the framework for standards of advice and case management and supports members with an infonmation system, case management system, training and other services. Auditor In accordan with the company's artides, a resolution proposing that Spencer Gardner Dickins Audit LLP be reappointed as auditor of the company will be put at a General Meeting. s. report was approved by the Board of Trustees. Peter Wiseman {C Trustee Date.. Jl:..%..i.i.....2oz*
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Bedworth Rugby and Nuneaton Cttizens Advice Bureau for the purpose of company law, are responsible for prepartng the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial stateménts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements. the trustees are required to: select suitable aC)unting policies and then apply them consistently., observe the methods and prtnciples in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose wth reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and other iegular1ties. - The charity trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing a trustees. annual report and financial statements in accordan with applicable law and United Ktngdom Accounting Standards (United Kingdom Generally Apted AoUnting Practice). Company law requires the charity trustees to prepare financial ststements for each year which give a true and fair view of the slale of affairs of the charitable company and of the incoming resources and application of resources, including Ihe income and expenditure of the charity for that period. In preparing the financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent.. state whether applicable UK accounling standards have been followed. subject lo any material departures disclosed and explained in the financial slatements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose wilh reasonable accuracy at any time the financial position of the charity and to enable them to ensure Ihat the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the mainlenance and integrity of the corporate and financial information inc]uded on the charitable company's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial ststements may differ from legislation in other jurisdictions.
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU Opinion We have audited the financial statements of Bedworth RLJgby and Nuneaton Citizens Advice Bureau (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢pted Accounting Pradice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of reSoUrs, for the year then ended-, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., and have been prepared in accordance with the requirements of the CompaniesAct 2006. Basis for opinion We conducted our audit in accordance wth International Standards on Auditing {UKI IISAS (UK>) and applicable law. Our responsibilities under those stsndards are further described in the Auditors responsibilities for the audit ol the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wtth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other inforrnation and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other'information, we are required to report that fact. We have nothing to report in this regard.
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose 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 detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influen the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting Iegular1tie$, including fraud, is detailed below. Enquiring of management, those charged with governance around actual and potential litigation and claims., Reviewing minutes of meetings of those charged with governance., Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations., Performing audit work over the risk of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. A fvrther description of our responsibilities is available on the Financial Reporting Council's website at- https.'Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report. 10-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Debra Knighton FCCA nior Statutory Auditor) for and on behalf of Spencer Gardner Dickins Audit LLP Chartered Accountants statutory Auditor 3 Coventry Innovation Village Cheetah Road Coventry CV12TL Spencer Gardner Dickins Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 11
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestrictsd Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 6,582 678,713 4,773 6,582 1,265.744 4,773 4,100 578,350 1,564 4,100 488,995 1,067,345 1,564 587,031 Total income 690,068 587,031 1,277,099 584,014 488,995 1,073.009 Expenditure on: Charitable activities 609,628 587,031 1,196.659 556,643 488,995 1,045,638 Totsl expenditure 609,628 587.031 1,196,659 556,643 488,995 1,045,638 Net income and movement in funds 80,440 80,440 27,371 27,371 Reconciliation of funds". Fund balances at l April 2023 628.354 628,354 600.983 600,983 Fund balances at 31 March 2024 708.794 708,794 628,354 628.354 The statement of financial activities includes all gains and losses recognised in the year. All income and expendtture derive from continuing aclivities. The ststement of financial activities also complies with the requirements for an income and expendtture account under the Companies Act 2006. 12-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 11 5,973 3,099 Current assets Debtors Cash al bank and in hand 12 112,555 729,979 102,195 712,640 842,534 814,835 Creditors: amounts falling due within one year 13 (139,713) (189,580) Net current assets 702.821 625,255 Total assets less current liabilities 708,794 628,354 The funds of the charity Unrestricted funds 708,794 628,354 708,794 628,354 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, atthough an audit has been carried out under section 144 of the Charities Act2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 "with" respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Aci 2006, for the year in question in accordan with Section 476. These financial statements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The tate nts were approved by the trustees on ............ Peter Wiseman {Chai Trustee Company registration number 05056654 (England and Wales) 13-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notss Cash flows from operating activities Cash generated froml(absorbed by) operations 19 16,812 (19,083) Investing activrties Purchase of tangible fixed assets Investment income received {4,246) 4.773 1.564 Net cash generated from investing activities 527 1,564 Net cash used in financing activities Net increasel(decrease) in cash and cash equivalents 17,339 (17.519) Cash and cash equivalents at beginning of year 712.640 730.159 Cash and cash equivalents at end of year 729,979 712,640 14-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infom)ation Bedworth Rugby and Nuneaton Citizens Advice Bureau is a company limited by guarantee incorporated in England and Vwdles. The registered office is Gethin House. 36 Bond Street, Nuneaton, Watwickshire CV11 4DA. Bedworth Rugby and Nuneaton Citizens Advice Bureau meets the definition of a public benefit entity under FRS102. The charity is a company limited by guarantee. 11 does not have a share capitsl and the liability of each member is limited to the guarantee given by that member which shall not exceed £1. The charity is under the control of the Trustees. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Chaiities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordan wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern The Trustees have reviewed the charity's budget and cash flow forecast and considered any material uncertainties. particularly with regard to future funding. Based on this review, the Trustees are satisfied that at the time of approving the financial slatements the charity has adequate resources and that the going concem basis of accounting remains appropriate. 1.3 Charttable funds Unrestricted funds are available for use at the discrelion of the trustees in furtherano of their charitable objeclives. Designated funds comprise funds which have been sel aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated fvnds are set out in the trustees report. Restricted funds are subject to specific conditions by donors as to how they may be used or through the temis of an appeal. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 15-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) 1 A Income All income is included in the statement of financial aclivities, exclusive of val. when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income= Voluntary income is received by way of grants. donations and gifts and is included in full in the Slatement of Financial Aclivilies when receivable. Grants. where entitlement is not conditional on Ihe delivery of a specific perfomiance by the Gharity, are recognised when the charity becomes unconditionally entitled to the grant. Donated serVIS and facilities are induded at the value to the charity where this can be quantified. The value of Se1 provided by volunteers has not been included in these accounts. Investment income is included when re1Vable. Incoming resources from grants. where related to perfomance and specific deliveries, are accounted for as the charity earns the right to consideration by its performance. Where income has been received but the perfomiance of the contract work has not been performed at the balance sheel date then such income is included as a liability and carried forward as deferred income. Work performed bLrt not completed or billed at the balance sheet date is induded in Debtors at an estimated value. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a third party, it is probable that a transfer of economic benefits will be required in sett]ement, and the amount of the obligation can be measured reliably. Expendilure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable lo a single activity are allocated directly to that aclivity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between Ihose activities on a basis consislent with the use of resour$. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure is induded in the Stalement of Financial Activities on an accruals basis, inclusive of any VAT, where the VAT cannot be recovered. Expenditure which is directly attributable lo spectfic adivities has been induded in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources. 1.6 Tangible fixed assets Tangible fixed assets costing £1,000 or more are initially measured at cost and subsequently measured at cost. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Equipmenl, fixtures and fitknngs Computer equipment 100/0 on a reducing balan basis 250h straight line The gain or loss arising on the disposal of an assel is determined as the dtfference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 16-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.7 Impairnient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimaled in order to determine the extent of the impaimient loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. Basic financial assets Basic financial assels, which include deblors and cash and bank balans. are initially measured at .Iransaclion price including.transaction costs and are subsequently carried at amortised cost using the effective interest rnethod unless the arrangement constitutes a financing transaction. where the transaclion is measured at the present value of the fulure receipts discounted at a market rate of interest. Financial assets dassified as receivable wtthin one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement wnstitutes a financing transaction, where the debl instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneffts The cost of any unused holiday entrtlement is recognised in the period in which the employee's services are reIved. Termination beneffts are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 17-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estirnates and associated assumptions are based on historical experience and olher factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions a VieWed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Voluntary income Unrestri¢ted Unrestricted funds funds 2024 2023 Donations and gifts 6,582 4,100 18-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Unrestrl¢ted Funds Unrestricted Funds 2024 2024 Nuneaton and Bedworth Borough Council (NBBC) Rugby Borough Council Warwickshire County Council IWCC) Rent received Other inGome Lottery Fund - Cost of Living 95,070 73,000 377.870 7,190 50.895 74,688 95,070 73,000 367,929 6,020 36,331 678,713 578.350 RestrÉcted Funds 2024 Restricted Fund$ 2023 Citizens AdVI- Money Advice Service Orbit- Welfare Benefits AdVi[lne WCC Telephony WCC - Family Centres Money Advice Service: Energy Advice Big Lottery BBO Big Lottery Big Local Trussell Trust Debt Modernisation Fund 247,314 57,990 187,500 226,082 29.571 33,617 11,813 24,838 21,375 28,158 8.043 166.852 17.083 15,790 587,031 488,995 Total income from Charitable Activities 1.265.744 1.067,345 Investments Unrestricted Unrestricted funds funds 2024 2023 Bank and COIF deposit interest received 4,773 1,564 19-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on Charitable activities Expenditure Expenditure 2024 2023 Direct costs Depreciation and impaimient Rent. rates and service charges Salaries and pension costs Computer expenses and infomiation fees Travelling and training Light, heat and water Printing, postsge and stationery Telephone Repairs and maintenan Insuran Sundry expenses Bank charges Redundancy costs Audit and accountancy Legal and professional fees Shared salary costs 1,372 73,347 853.377 51,429 27,456 21.683 18.465 8.942 17,963 12,367 38,984 470 5,734 13,317 8,349 43.404 60.220 810.912 47.555 23,229 11,469 18,790 10,008 3.909 5,590 17,460 364 8.520 14.156 13,112 1,196,659 1.045,638 Analysis by fund Unrestricted fvnds Restricted funds 609.628 587.031 556.643 488.995 1.196.659 1,045,638 Net movement in funds 2024 2023 The net movemenl in funds is stated after chargingl(crediting)'. Depreciation of owned tangible fixed assets 1,372 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. (2023: None) No trustee expenses have been incurred and none of the tmstees daimed any expenses from the trust during the year. (2023.. None) -20-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Management Administration Advisors 23 22 Total 33 32 The staff costs were made up as follows: Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 740,065 59,230 50.292 707,113 57,993 45.806 849,587 810,912 There were no employees whose annual remuneration was £60,000 or more. 10 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Acl 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objecls. 21
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangible fixed assets Equipment. rixtures and rIng5 Computer equipment Total Cost At 1 April 2023 Additions 34,020 166.674 4.246 200,694 4,246 At 31 March 2024 34,020 170,920 204.940 Depreciation and impairnient At 1 April 2023 Depreciation charged in the year 30.922 310 166.673 1.062 197,595 1,372 At 31 March 2024 31.232 167,735 198,967 Carrying amount At 31 March 2024 2,788 3.185 5.973 At 31 March 2023 3,098 3,099 12 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 97,976 14.579 82.791 19.404 112,555 102,195 13 Creditors.. amounts falling due within one year 2024 2023 Notes Other taxation and social security Grants received in advance Trade edItorS Grants received on behalf of other Bureaux Accruals 31.900 65.550 37,980 62,500 2,410 67,088 19,602 14 14.204 28,059 139,713 189,580 Grants received on behalf of other Bureaux: The bureau occasionally receives income as an agent for other Citizens Advi Bureaux and other partners, as part of the original grant applications. In the year to 31 March 2024 the bureau received £197.686 (2023.. £374,303) in this respect and at 31 March 2024 £14,204 {2023.' £40,094) had not been distributed to partners. -22-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Deferred income 2024 2023 Other deferred income 65,550 62.500 Deferred incorne is included in the financral statements as follows= 2024 2023 Deferred income is included within: Current liabilities 65,550 62,500 Movements in the year.. Deferred income at 1 April 2023 Released from previous periods Resources deferred in the year 62,500 (62,500) 65,550 31,566 (31,566) 62,500 Deferred income at 31 March 2024 65,550 62,500 -23-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Restricted funds The restricted funds of the charity comprise the unexpended balan$ of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement in funds Incomlng Resources Balance at resources expended 1 Aprll 2023 Movement in funds Incomlng Resources Balance at resources expend8d 31 March 2024 Money Advice Service WCC Telephony Big Lottery- BBO WCC - Family Centres Orbit- Welfare Benefits Adviceline Big Local Debt Modernisation Fund Trussell Trust 226,082 (226,082) 259,127 (259,127) 187,500 (187,500) 24,838 (24.838) 166.852 (166,852) 33.617 (33,61n 29,571 {29,571) 17,083 (17,083) 57,990 21,375 8,043 28.158 (57,990) {21,375) (8,043) (28,158) 15,790 (15,790) 488,995 (488,995) 587,031 (587,031} Purposes of Restricted Funds: Money Advice Service Funding provided for debt casework ServIS in Nuneaton and Bedworth and Rugby. WCC Telephony Funding from WCC to provide B.counlde telephony Se[ across WaiCkshIre. Delivered in partnership with Citizens Advice South Warwickshire and North Warwickshire Citizens Advice. Help to Claim SeNice Funding from DWP {via national Citizens Advice) to participale in the pilot of the Help lo Claim Service to support vulnerable people to make their initial claim for Universal Credit and offer support through to reIpt of the first payment. Big Lottery Building Better Opportunities (BBO) Breakthrough Programme Funding provided to help the unemployed and economically inactive people lo develop financial literacy and lrfe skills and overcome barriers and help to move them towards employment. Orbit- Welfare Benefits Adviceline Funding for the provision of management and supervision. the Orbf( Welfare supervisors and the infrastructure costs (IT, premises , et¢.) Big Local This funding relates to the delivery of outreach within the Hill Top and Wembrook area of Nuneaton. Debt Modernisation Fund One off monies from National Citizens Advice to upgrade IT equipment and infrastructure Trussell Trust Funding for the provision of outreach seNices in Nuneaton, Bedworth and Rugby. -24-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestrtcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 General funds 628.354 690.068 (609.628) 708,794 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 General funds 600,983 584.014 (556.643) 628,354 17 Operaling lease commitments Lessee At the reporting end date the charty had outstanding commitrnents for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years 58,734 57,692 60,620 100.312 116,426 160,932 18 Related party transactions Accountancy serVIS are supplied by JLS Accountancy Limtted. a company formed on 15 November 2021 in which J Simmons is a director and shareholder. These seNices were provided at a charge of £3,548 for the year (2023= £5,925). As at 31 March 2024 £nil was outstsnding to JLS Accountsncy Limited (2023- £nil). -25-
BEDWORTH RUGBY AND NUNEATON CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Cash generatsd from operations 2024 2023 Surplus for the year 80,440 27,371 Adjustments for= Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (4,773) 1,372 (1,564) Movements in working capttal.. (Increase) in debtors (Decrease) in creditors Increasel(decrease) in deferred income {10,360) (52,917) 3,050 {24,990) (1,95n (18,287) Cash generated froml(absorbed by) operations 16.812 (19,083) 20 Analysis of changes in net funds The charity had no material debt during the year. -26-