citizens advice Reigate & Banstead Citizens Advice Reigate and Banstead Limited REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 March 2024 •ADIN16BD* 2411212024 COMPANIES HOUSE A41 #48 Company No. 5107133 Charity No. 1104970 Data Protection Number Z9103147 FRN: 617706 Citizens Advice Reigate and Banstead Limited CONTEKrs Pa 4-14 Trustees and Directors Re ort Inde end•nt Examinefs Re ort 15-16 Statement ol Financial Activltfes. 17 Balance Sheet 18 Cash Flow Statement 19 Notes to the Financlal Statements 20-26 Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Report of the Directors and Trustees The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and financial statemenls for the year ended 31 March 2024. The provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" Staiement of Recommended Practice applicable to charities preparing their accounis in accordance with the Financial Reporting Standard appli(xble in the UK and Republic of Ireland (FRS 102), (effective 1 January 2019), and comply with the Charities Act 2011, the Companies Act 2006 and the Memorandurn and Ihe Articles of Association. REFERENCE AND ADMINISTRATIVE DETAILS Charty Name: Citizens Advice Reigate and Banstead Limited (CARB) Charity Registration: 1104970 Company Registration: 5107133 Registered Office: The Horseshoe, Banstead, Surrey SM7 2BQ Chair: Les Anderson (from 17 April 2024) Richard Hoffman (to 17 April 2024) Bank: HSBC Bank plc Independent Examiner". David Wheeler FCCA Cheeld Wheeler & Co Chartered Certified Accountants Redhill Chambers 2d High Street Redhill Surrey RH11RJ Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Report of the Directors and Trustees DIRECTORStrRUSTEES The following people were directorsltrustees of the charity during the year andlor on the date of approval of the report: DIRECTORsrrRUSTEES ROLE DATE APPOINTED DATE RESIGNED Leslie Anderson Acting Chair Trustee 17-04-24 Stephen Jebson David Woodley Andrew Wilson Odile Hounkpatin Richard Hoffman 26-08-20 Trustee Trustee Trustee 02￿8-19 14-09-23 14-09-23 Chair 14-05-14 17-04-24 Jan Thornton Trustee 24-03-18 22-11-23 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Citizens Advice Reigate and Banstead Limited (CARB) is a registered charity and a company limited by guarantee. The maximum liability of each member is limited to £1. At 31 March 2024 the company had 6 Trustees. The Company is governed by its Memorandum and Articles of Associaiion. The charity commenced operations in 1939 and was incorporated as a company limited by guarantee on 20 April 2004. Recruitment, appointment of trustees Trustees, who are also Directors of the Company. are appointed from the local community and must either reside or work in the UK. A Committee made up of Trustees headed by the Chair is esiablished to oversee the process for Boafd appointments. A separate process agreed by the Trustee Board is followed for Ihe election of the Chair. Trustees who have held office during the year are listed on page 3. The tiustees meet at least 4 times per year. The board is supported by a network of sub-committees, covering Funding, Govemance, IT and Research and Campaigns, Equalities and Diversity. Trustees are elected to the Board for a three-year period and are appointed by the trustee board. Trustees may extend their time up to maximum of 6 years. The organisation is Co-ordinated from its offices in Redhill and Banstead. Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Trustee induction and training New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandurn and Articles of Association. the comrnittee and decision-making processes, the business plan and recent linancial performance of the charity. They also meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will lacilitste the understanding of their role. Organisation Structure Citizens Advice Reigate and Banstead is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as rnonitoring progress against Ihese standards. Operating policies are independently determined by the Board of Directors in order to fullil its charitable objects and comply with the national membership requirements. The Chief Execulive of the organisation has been appointed by the trustees lo manage Ihe day-to-day operations of the charity. In addition, there is an experienced team of paid staff and volunleers who are key to the service offered by the charty. Decisions are made by the trustee board in line with the Slrategic and Business Development Plan and are reviewed at least annually. The Management Team meet to review progress against targets and the Charity's financial position and to discuss issues referred to them by the trustee board. Reports and recommendations are then taken to the full board for approval, and their implementaiion is organised by the chief executive and the staff team. There are regular staff, volunteer meetings and management team meetings which ensure that progress is being made against targets. Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Pay and Remuner*ion of Key Management Personnel The trustees consider Ihat the board ot trustees and the management team (MT) comprise the key management personnel of the charity. The charity's management team are all paid in accordance with a published scale of grades used in the voluntary sector. Any increases to these published grades are approved by the trustee board. The chief executive's salary is reviewed and approved by the trustee board separately but in line with the policy set out above. Key rlsks and Uncertaintie3 The trustees having had consideration to and mindful of Ihe risk factors for Ihe charity identrfy the followin Securing funding femains a serious challenge to maintain but lo expand our service. We undersland Ihal the ne￿ few years are critical for us in terms of our sustainability and ultimately our long-term survival. the Trustees are taking this risk very seriously and are res ondin accordin The funding climate is not getting any easier, nor do we expect it to improve any time soon - coupled with this demand for our service is increasing meaning Ihat we risk being unable lo carry on meeting our clients, needs and experience reputational risk as a result. In order that we can continue to deliver It is essential that we maintain our volunteer base. We, along with many other Local Cilizens Advice, are finding it harder 10 attract suitable volunteers. Trustees lans and strate ies for mana in these risks. A fundraising strategy is in development for the next financial year that broadens our approach to income generalion, we are working towaids building our unrestricted income to allow us to create a cushion should we face further reductions in our funding levels. Risk management is reviewed and monitored at least quarterly. Factors that are likely to affect the financial performance or position in 2024125 and further ears: As the service is reliani on core funding from the Local Authority it is subject to volatile and uncertain economic conditions Core funding is currently received from the Local Authority in the form of a an annual grant, we are anticipating a possible move towards a commissioning model in the form of a contract in the future. Contracts generally provide a longer term offer than grants (generally 3-5 years). and contract will no doubt go out to open tender and there is therefore a risk. The political environment remains uncertain, Ihe impact of key national developments is still ve much an 'unknown uanti but has the otential to im act on our osition. A possible increased competition in an ever-changing voluntary sector marketplace - we know that the voluntary sector is becoming a much more competitive sector, particularly as funding becomes ever harder to access, as a result we are seeing organisations diversifying their service offer and moving further towards our 'core market. Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 OBJECTIVES AND ACTIVITIES Objects The charitys objects are to promote any charltable purpose for the benefit of the community in Reigate and Banstead, by the advancement of education, the protection and preservation of health and the relief of povety, sickness and distress. Aims, objectlves. Strategles, and activlties for the year CARB aims to provide free, confidential, impartial, and independent advice and information for the benefil of the local community and to positively inlluence the development of research and campaigns activity to ensure individuals do not suffer through a lack ot knowledge or an inability to express their needs effedively. We aim to provide the advice people need for the problems they face, and to improve the policies and praclices that affect people's lives. We value diversity, promote equality and challenge discrimination. The strategic priorities set for the year were: 1. Accessibility. Clear transparent information dispersed around Reigale and Banstead Borough Council (RBBC) on how people contact CARB. Develop a working 'Adviceline' that provides a good experience for volunteers and advisers. The majority of advice will be digital with face 10 face where necessary. More tocus on RBBC clients, less contribution to clients from other areas. 2. Operational efficiency. Efficient and effective service rnaking best use of staff and volunteer time. Efficiencies investigated and implemented when dealing with lengthy client casework so that resource capacity can be released to engage with more clients. Emphasis on effective first client engagement by preparing clients for appointments and reducing missed appointments. 3. Funding. Continue to seek more sustainable and diverse funding sources sufficient to secure adequate staff resources to operate the service and meet demand from RBBC clients. 4. Outreach. Deliver a general advice appointment service in the RBBC community for those who need face to face support. Ensuring our work delivers our aims We review our aims. objectives and activities each year. The annual review seeks to examine our achievements and outcomes. Together with the success of individual key projects and Ihe benefits that have been bom from them. In carrying out the review we are ensuring that that our aims, objectives and activities are in line with our stated purpose. Our main objectives for the year have been developing our service so Ihat it really meets the needs ot the clients we are lrying to support. Key activities have induded: Citizens Advice Reigate and Banstead Limited TRUSTEES. AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Makin sure our service delive is cost effective and et erson centred. Continually reviewing, and improving where necessary. the quality of the advice we deliver to all our clients. Diversifying our approath to funding to minimise the risks associated with holding reduced fundin streams Continued partnership working with other organisalions to help develop initiatives to rove access lo uali advice, inforrnaiion and su ort services. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFrr Our main activities and who we try to help are described below. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The board of trustees have had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011. The trustees have paid due regard to Ihe Charity Commission's guidan￿ on public benefit in deciding the adivilies undertaken by CARB during the year. The Irustees are satisfied that the information provided in the report and tinancial slatements meets the public benefit reporting requirernents. The principal activity of CARB remains the provision of free, confidential, independent, and impartial advice and information for members of the public. Advice was provided through telephone, email, and webchat and through permanent offices in Redhill and Banstead In addiiion to generalist advice CARB also provided specialist debt casework. We also ulilised solicitors who offered pro bono legal appointrnents. ACHIEVEMENTS AND PERFORMANCE Advice and Information Services The main areas of charitable activity are: The rovision of eneral advice and information services The provision of specialist advi￿ and casework setvices in the debl category of social welfare law The rovision of s ecialist advice and su ort in benefits for Macmillan cancer atients Throughout the year we have continued to offer Advice and Information in the following ways Face to face appointments, drop in -. during the year we hove been open 5 days a week across our 2 offices. An initial assessment takes place ensuring that clients are dealt with in the most appropriate way, urgenl issues are responded to and clients are not turned awa Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Advice Line - participation is continuing as part of a Surrey wide telephone service. The line is covered on a rota basis between the hours of 10.00am and 4.00pm from Monday to Friday. Outside of these times there is an automated advice service 24 hours a da Full advi￿ - General and specialist advice through our team of trained advisers and aid staff. Outreach - a general advice appointment Servi￿ in the RBBC community for those who need face to face support. In addition to eneral advice, the followin ecialist services are ecialist debt advice funded b the National Lotte Specialist welfare benefits advice funded through Macmillan and CA Hampshire wilh the aim of maximisin benefits for those sufferin with cancer and end of life care. rovided: Contrlbutlon of Volunteers and Paid Staff The charity success could not have been achieved without the hard work and dedication ot volunteers and staff. The trustee board and managernent team recognise Ihe tremendous contribution made by the charity's volunteers in advising the public and administering the service without which the service could not operate. Throughout 2023124 the service employed 14 paid workers (11.93 FfEs) and 48 volunteers together delivering 3 specialist projects, and the core service. Volunteers represent the indispensable core of the service for without them there would not be a Citizens Advice s8rvice. The volunteers contribute, on average, 210 hours per week. This May be expressed as an annualised value of £138,000 - £151,200. However, their value is inadequately expressed in monetary terms. Indeed, volunteers bring many skills to the service and very often the experience gained can assist individuals to return or enter employment. During 2023124 5 volunteers left to take up external work. It is our intention to consistently monitor our approach to recTUitment SoUr￿S and training, to provide an accessible and welcoming place to volunteer. 10 Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 ACHIEVEMENTS AND PERFORMANCE (continued) Who used and benefited from our services? During the reporting year 3325 clients benefited from the services of Citizens Advice Reigate ' and Banstead, 63 % of our clients were female and 46 /0 had either a long-term heallh issue or were disabled. We supported people on 11906 issues with Benefit and tsx credits, Benefits and Universal credit, Charitable support and food banks, Consumer and Debt were our top 5 issues. The Servi￿ achieved £1,032,542 in financial outcomes for our clients. Nearly £300,000 of debts were written off on behalf of clients. Factors Affecting the Achievement of Objectives Maintaining sufficient funding to continue delivering the Servi￿ remains a continual challenge. We are making sure that we invest in fundraising and continue to diversify our approach to ensure we are delivering the most cost-effective service we possibly can. This isn't about simply cutting costs, it is about delivering a service that genuinely meets clients. needs to make us as cost effective as possible. The complexity of the issues that clients are tacing, and the additional challenges that clients are experiencing, pla￿S additional demands on the service. The support networks that were previously in place for people are changing and we are asked to offer support Ihal falls outside the remit of dire￿ advice. Where people are vulnerable, it is essential that we offer support in a person-centred way and whilst necessary this can be resource intensive. 11 Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 FINANCIAL REVIEW The availability of funding in the charity sector remains diff icult in a period of austerity. The charity is focused on providing added value to its funders from a base of sound financial management and ensuring that our services remain relevant to the strategic objectives of stakeholders at local and national level. The charity is working hard to deliver a cost-effective service that genuinely meets the needs of our clients. It remains a challenging prospect to meet the increasing demand with significantly reduced funding resources. In the reporting period, the charity had a surplus of £15,117 (2022123: (£2,247) from a total income of £678,567 (2022123.. £350,838) and expenditure of £663,449 (2022123- £353,085). At the year end the charity's total funds stand at £324,540 (2022123: £309,423) of which £250,729 (2022123: £182,676) is unrestricted and £73,811 (2022123: £126,747) is reslricted. Principal Funding Sources The total income for the year of £678,567 represents a net increase of £327,729 compared lo 2022123. This increase was principally due to the Adviceline contract (£311,250). The trustees extend their sin￿re gratitude to Reigate and Banstead Borough Council who continue to support the key (core) operating capacity of the charity. Project specific funding was gratefully received from: Naiional Lottery - Debt advice Surrey County Council - Delivery of Surrey Adviceline Raven Housing - for delivering debt advice to tenants of Raven Housing Association Nationwide Building Society- provision of housing advice The Netherby Trusl - client support in Merstham National Citizens Advice - general advice and support Macmillan - advise for those al end of life. or long term cancer issues We would not be able to support the numbers of people in Reigate and Banstead without their support. Investment Pollcy Under its Memorandum and Articles of Association and in furtherance of its objects and for no other purposes, the Company has the power to invest the monies of the Company not immediately required for its purposes in or upon such investments. securities or property as may be thought fit, subject nevertheless to such conditions and such consents as May for the time being, be imposed or required by law. CARB did not hold any such investments at the year end. 12 Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 Reserves Policy In reviewing the potential costs that could arise should a Signifi￿nt reduction in income be incurred the Trustees have determined to aim that 'minimum free. reseNes equivalent to at least 3 months operating expenditure should be maintained. The value of this will be calculated using an average of three months running costs based on the current annual budget. This is reviewed on a quarterfy basis. At 31 March 2024 unrestricted reserves stood at £250,729 which is more than 3 monihs unrestricted operating expendilure and in compliance with the reserves policy. Going Concern The financial statements have been prepared on the assumption that the charity continues to operate as a going concem. The charity has secured core funding for the following financial year plus additional funding from other sources. The trustees are of the opinion that the charity is able to continue to operate and meet its financial obligations as they fall due. FUTURE PLANS Developing a sustainable service that meels the needs of our clients remains a priority of the trustee board for 2024125. The charity will build on the work completed in the previous financial year to develop diversified funding streams to increase our sustainability and enable us to build a diverse service that is responsive to client needs. The charity will continue to work to ensure that it delivers a cost-effective service, meaning that we are not only offering value for money to our existing funders but that we have a viable offer, whilst never compromising on the high-quality service that our clients expect and deserve. During the year 2024125 we will improve our inlernal moniloring mechanisms ensuring that we have a clear understanding of each element of the service, the benefits of that are many - we can ensure that we are achieving as much as we can possibly achieve and delivering an excellent service to our clients and our funders, and we can also understand our business offer and can market our service accordingly. STATEMENT OF TRUSTEES RESPONSIBILrriES The trustees and are responsible for preparing the Annual Report and the financial slalements in accordance with applicable law and regulations. Company and charity law require the trustees and directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial stalements in accordance with United Kingdom Generally Accepted,Accounting Practi (United Kingdom Accounting StandaTds and applicable law). Company law requires that the trustees and directors must not approve the financial statements unless they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the charitable company for that period. In preparing those h'nancial statements, the trustees are required to: 13 Citizens Advice Reigate and Banstead Limited TRUSTEES, AND DIRECTORS, REPORT For The Year Ended 31 March 2024 a. select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; c. state whether applicable accouniing stsndards have been followed subject 10 any material departures disclosed and explored in the financial statements; d. prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business., e. that the trustees and directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time Ihe financial position of the charity and that enables them to ensure that the financial statements comply with the Cornpanies Act; f. that Ihe trustees and directors are responsible for safeguarding Ihe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities; and Ihat, where appropriale the trustees and directors are responsible for the maintenance and inlegrity of the corporate and financial information included on the charity's website. In preparing this report, the Trustees have taken advantage of the small companys exemptions provided by section 415A of the Companies Act 2006. The annual report was approved by Ihe trustees of the charity on behalf by 11 and signed on its Les Anderson Chair of Trustees 14 Citizens Advice Reigate and Banstead Limited Independent Examiner's Report to the Trustees of Citizens Advice Relgate and Banstead Limited I report to the charity trusiees on my examination of the accounts of Ihe company for the year ended 31 March 2024, set out on pages 16 to 25. Responsibilities and basis of report As the Charity's Truslees of the Company, (who are also Ihe Direclors of the cornpany for Ihe purposes of company law), you are responsible for the preparation of Ihe accounts in accordance with the requirements of the Charities Act 2011 (the Act), and the Companies Act 2006 (the 2006 Act). Having satisfied myself Ihai the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinaiion, I report in respect of my examination of your Charity's accounls as carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act). In carying out my examination, I have followed all appli>14 15 Citizens Advice Reigate and Banstead Limited STATEMENT OF FINANCIAL ACTIVITIES Including income and expenditure account For the year ended 31 March 2024 Notes Unrestrlcted Funds Restricted Funds Total 2024 Unrestricted Funds Restricted Funds Total 2023 Income trom: Charitable activities Donations and le acies Investment income 129,623 5.926 8.230 534,787 664,410 5.926 8,230 115,060 5,257 661 229,860 222,041 344,920 5.257 661 3b Total Income 143,779 534.787 678.566 120,978 229,860 350.838 nditure on: Charitable activities Governance costs 60,119 635 601.697 998 661.816 1.633 113,805 237,600 1.136 351,405 1.680 Total ex ndlture 60,754 602,695 663,449 114.349 238.736 353.085 Net incomel ex nditure 83,025 67,908 15,117 6,629 8.876 2,247 Transfers between funds 14.971 14,971 3,395 3,395 Net movemeni in funds 68,054 52,936 15,117 10,024 12,271 2,247 Reconciliation of funds: Total funds blf 1SIA ril 2023 12 182.676 126,747 309.423 172.652 139.018 311,670 Total funds cft 31 March 2024 12 250.730 73.810 324,540 182,676 126,747 309,423 The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing adrvities. The notes on pages 16 to 25 form part of Ihese linancial staternents. 16 Citizens Advice Reigate and Banstead Limited BALANCE SHEET As at 31 March 2024 Unrestricted funds Restrlcted lunds 2024 2023 Notes Fixed assets Tan ible assets Current assets Debtors Cash al bank and in hand 28.501 55.954 28.501 320,979 7,310 308,205 265.025 265,025 84,455 349,480 315,515 Liabilities Creditors: amounts fallin within one ear due 10 24,940 24.940 6.092 Total net assets 240.085 84.455 324,540 309,423 Funds of the Chari Unrestricted & desi Restricted funds nated funds 12 12 240.085 240.085 84,455 182.676 126,747 84,455 Total char lunds 240.085 84,455 324,538 These linancial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006. For the financial year ended 31 st March 2024, the charity was entitled to exemption frorn audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Cornpanies Acl 2006. The trustees acknowledge their responsibilities for complying with the requirements of Companies Act 2006 with respect to the maintenance of accounling records and the preparation of accounts. The financial staternenls on pages 16 to 25 were approved by the trustees on 20 December 2024, and signed on their behalf by.. Signature: Signature: Trustee Name: Trustee Name: (knoo£u LJILStsfrJ Date: Date: ID | li l Lalu Cornpany Number: 1104970 The notes on pages 16 to 25 form part of these financial statements. CARB Final Accounts 2025 FV117 Citizens Advice Reigate and Banstead Limited CASH FLOW STATEMENT For the year ended 31 March 2024 Notes 2024 2023 Cash flows from o atin activities.. N•1 cash provlded by operatlng actlvltles 13 4.545 (293) Cash flows from Investin Interest income activitles: 13 8,230 661 Net cash rovided b financin activities Increase in cash and cash e uivalents in the re ortin eriod Cash and cash equivalents al the beginning ot the reporting period 12,775 308,205 368 307,837 Cash and cash e ulvalents at the end of the re ortln rlod 320.980 308,205 The notes on pages 16 to 25 fom part ol these financial statements. 18 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021 The charity is a private company, limited by guarantee, registered in England and Wales. The company's registered office address is as shown on page 3. The charitable company constitutes a public benefit entity as delined by FRS 102. Accounting Policies Basls of preparation The charity constitutes a public benefit entity as defined by FRS 102. The financial slaternents have been prepared in accordance with Accounting and Reporting by Charities: Staternent of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Slandard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charities Act 2011 , the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless Othe￿iSe stated in the relevant accounting policy. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the ITUStees in lurtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds are unrestricted funds earmarked by the truslees for particular purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and adrninistering such funds are charged against the specific tund. The aim and use of each restricted fund is set out in the notes to the financial statements. Incom8 All income is included in the staternent of financial activilies when the charity is entitled to the funds and the amounl can be measured with reasonable certainty. Income is deferred only when the charily has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Voluntary incorne is received by way of grants. donaiions and gifts, including gift aid income where applicable, and is included in fu51 in the statement ol linancial aclivities when receivable. Income from grants, where related lo performance and specific deliverables. are accounted for when it is probable that the income will be received and the amount can be measured reliably and is not deterred. Donated services and facilities are included at the value to the charty where this can be quantified and is material. The value of services provided by volunteers has not been included in these accounts. Interest receivablo Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company. this is normally upon notificatr'on of the interest paid or payable by the Bank. 19 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting Pollcles (contlnued) Expenditure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered, and is reported as part of the expenditure lo which it relates. Expenditure on raising lunds; comprise the costs associated with attracling voluntary income, Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services ' for its beneficiaries. The primary functional activity of the charity is the giving of free and confidential advice to the public. It includes both costs that can be allocated directly to this activity and those costs of an indirect nature necessary io support Ihem. Support costs includes all those overhead costs of office and bureau accornrnodation, utility services, and other seNices and cosls, which are in support ol the activity. They also include those costs not associated with the other two headings and includes costs of rneeling the constitutional and statutory requirements of the charity. the audit fees and costs linked to the strategic managernent of Ihe charity. They have been allocated to activity Cost categories on a basis consistenl with the use of resources. Taxatlon The company, being a registered charity with minimal trading income. has been granted exernption from tax under Section 505 of the Income and Corporation Taxes Act 1988. No provision for taxation has therefore been made in these accounls. 1.7 Golng concern The financial staternents have been prepared on the assumption that the charity continues to operaie as a going concem. The charity secured Core funding for the following financial year plus additional funding frorn other sources. The trustees are of the opinion that tha charity is able to continue to maet its financial obligations as Ihey fall due. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepaymenls are valued at the amount piepaid nel of any trade discounts due. 1.9 Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments wilh a short maturity of three months or less from the dale of acquisition or opening of the deposit or sirnilar account. 20 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting Policies (contlnued) 1.10 Credltors and Pfovlsions Creditots and provisions are recognised where the charity has a present obligation resulting from a past event ihat will probably result in the transfer of funds to a Ihird paty and the amount due to settle the obligation can be rneasured or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. Pensions and retSrement beneflts The charity contributed to pension schemes for employees and is operated on a defined contributions basis. The scheme was changed on 1 February 2016 to comply with auto-enrolment regulalions. This is open to all eligible employees at any time. Employer contributions are and employee contributions are 20/0 of eligible salary. The assets of the individual members. schemes are held separately from those of the company in independently administered funds. The pension cost shown in the accounts for Ihe year represent contributions payable by the company and amounted to £13.188 (2022123 £14.730). Incom• from Charltable a¢tivSties Unrastrlcted Restrlcted Total 2024 Unrestricted Restricted Total 2023 Government and public authori contracts Other advisory ServI￿S 129,449 129,449 115,060 50,000 165.060 174 534,787 534.961 179,860 169,100 129.623 534.787 664,410 115,060 229,860 344,920 Income from other sources Unrestricted Restrlcted Total 2024 Unrestricted Restricted Total 2023 a. Donations and I Donations Legacies acies 5,926 5,926 257 5.000 257 5.000 b. Investment income Bank interest received 8,230 8,230 661 661 5.918 5.918 21 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Ex nditure Surrey Advlce Llne National Macmlllan Surrey County Council Olher proiecls Tolal 2024 Total 2023 Fund Direct costs: Staff costs 28.935 91,905 42.271 55.644 116.349 335.103 303,796 rt costs: Office, It & comms Premises & olher Other partner ments 4,289 1,634 282.024 4.792 1.755 6,391 1.543 2.587 960 15.226 5.512 33,285 11.404 282,024 30,746 16.863 Charitable activities cost Govemance costs 316,882 98,451 50,204 59,191 137,087 661,816 351,405 216 233 165 140 879 1,633 1,680 Total Ex ndlture 317,098 98.684 50,370 59.331 137,966 663,449 353,085 Net incomln resources for the 2024 2023 This is stated after chargin Inde erKlent Examinerfs remunerallon: 1.620 1,680 Trustees During the year no rernuneration or benefils for services as a directorhrustee have been paid or were payable, directly or indirectly, out of Ihe funds ot the charity to any trustee or to any person known to be connected wilh them. No trustee expenses have been incurred during the year. Em 2024 2023 lo ent costs Wa es and salaries Social securi costs Employeffs contributron to defined conlribution pension scheme 291.433 21,30S 270,312 18.755 14.729 15,305 328,043 303.796 The average number of full-tlme equivalent employees b function was Charitable ur oses Mana ement and administration of the chari 22 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 No employee received remuneration amounting to more than £60.000 in the period In Ihe year a new Chief Executive Officer was appoinled. This led to 3 months where both the legacy and the new Chief Executive Officer were being paid as part of the handover. 4 employees received remuneration between £30,001 and £35,000 (2022123 .2) The charity paid £1007 during the year ended 31 March 2024 (20022123: £961) for various insurance services. Insurance of the fabric of the Redhill office building is included in the payments to the landlord. Professional indemnity insurance cover is provided through meTnbership ot Nalional Citizens Advice amounling to £1062 (2022123: £1.068) Fixed Assets The charity has not fixed,assets (2022123.. 0). Debtors 2024 2023 Debtors Pre ments Accrued income 7,223 560 6.750 21.278 28,501 7,310 10 Credltors: amounts tallin due within one ear 2024 2023 Accruals Other creditors 11.242 13,698 6,092 24,940 6,092 23 Citizens Advice Reigate and Banstead Limited NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 11 Analysls of net assets between funds Unrestrlcted Restricted Total 2024 £ Unrestricted Restricted Total 2023 Tan ible h'xed assets Cu￿ent assets Current liabililies 265,025 24,940 84,455 349,480 24.940 187,753 5,077 127,762 1.015 314,515 6,092 Total 240,085 84,455 324.540 182,676 126.747 309,423 12 Movement In lunds Al 01-04-23 Incoming resources Othgoing resources Transfers At 31-03-24 Restrlcted reservos The National Lotte Surre Coun Council Nationwide Buildin Socie The Neiherb Tfust Raven Housin Trusl National Citizens Advice Suire Advice Line Macmillan 30,914 50,000 94,597 21.304 98.686 59,331 26,825 11,973 13,229 30,000 28,890 18,621 15,000 317,098 {50.369) 15.000 311 250 41.246 9,123 Total restricted lunds 126.747 $34.787 602,695 14.971 Unre8trlcted funds General funds Surre Crisis fund tee DRO fee income Donations & le acies 173,201 1(10,100 33,949 115 1.385 {36,9941 23.760 114.971 221,336 10,875 409 9,209 294 7.824 s Illl1= Investment income 671 8.230 8.901 To&1 unrestricted 182,676 143.779 (60,7541 14,9711 250,730 Total movemenls in funds 309,423 678,566 663,449) 324,540 24 Citizens Advice Reigate and Banstead Limited MOTES TO THE FINANCIAL STATEMENTS For the vear ended 31 March 202£. 13 Reconciliatlon of cash flows from operating activities 2024 2023 Net incornel ex enditure Less: InleTesl income Decrease in debtors Increase in creditors lor the re ortin nod 15,117 8,230 21.191 18,848 2.247 661 931 3.546 Net cash provlded by (used In) operating activities 4,545 (293) 14 Related Partles National Citizens Advice provided professional ind8mnity insurance to CARB amounting to £5m . This is part of the subscription levied. There were no other related paty transactions during the year. The charity paid £1,567 during the year ended 31 March 2024 (2023.. £961) for various insurance services. Insurance of Ihe fabric of the Redhill office building is included in the payrnents to the landlord. Professional indemnity cover is provided through membership ot National Citizens Advice amounting to £1.00912023: £1,068). 15 Volunteers As indicated in the trustees report, the volunteers are indispensable to Ihe running of a Citizens Advice seNice, where they advise the public and administer the service. The volunteers bring skills and experience to the service without which. it could not operate. 2.5