Charity Registration No. 1106631 Company Registration No. 05252247 {England and Wales) CITIZENS ADVICE SOUTH WARWICKSHIRE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CITIZENS ADVICE SOUTH WARWICKSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees Y Hunter G Fitzgerald l M Stark H J Serrano K A Payne L Pound S Lightfoot J Whitehill K Kalsi (Appointed 24 January 20241 (Appointed 24 January 20241 (Appointed 24 January 20241 Secretary & CEO J A Robinson Charity number 1106631 Company number 05252247 Registered office 10 Hamilton Terrace Leamington Spa Warwickshire CV32 4LY Auditor Burgl5 & Bullock 8 Elm Court Arden Street Stratford upon Avon CV37 6PA
CITIZENS ADVICE SOUTH WARWICKSHIRE CONTENTS Page Trustees, report Statement of Trustees, responsibilities io Independent auditor's report 11-15 Statement of financial artivities 16-17 Balance sheet 18 Statement of cash flows 19 Notes to the financial staternents 20-35
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTOR5, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 2019). Objectives and activities The year ending 31st March 2024 has been a momentous one for Citizens Advice South Warwickshire ICASW} in terms of both our strategic development and our impact on clients. During a time of social upheaval and the pernicious impact of the cost of living crisis, our services across all access channels have been in high demand. We have overhauled our organisation, with committed support from our stakeholders, in order to provide highly responsive and accessible services for clients across the South Warwickshire area. The continued impact of high food and fuel prices, insecure housing, the considerable impact on mental health of world news, and many other economic drivers, have had an effect on our clients across every age demographic. As an organisation we have moved fast. changing both our operating model and the way in which we target resources, to ensure we are able to help as many people as possible. Citizens Advice South Worwickshire seeks to provide free, independent, confidential and impGrtiol odvice to everyone on their rights ond responsibilities. We volue diversityi promote equality and challenge discrimination. Our organisation has changed in the past 12 months. We closed the Stratford-upon- Avon office, which was both expensive and not fit for our purposes, and instead co-located our services with Stratford District Council, in their office building. right in the centre of Stratford. With no charge for the use of the space. we have been able to offer a daily drop in service. led by volunteer Generalist Advisors, Monday-Friday from 10am-2pm. This service is accessed by many more people, and the ease of access to the building ensures we can meet the needs of our most vulnerable clients. We are very grateful for the support of the Council, who are one of our key funders. We retain a team of Caseworkers in Stratford-upon-Avon and the surrounding areas, who operate in our Targeted Services. The team runs externally funded projects which offer advice to our more complex clients, often via home visiting, and we have been able to secure space at Venture House in Stratford, thanks to the support of Stratford Town Trust, so that our workers can 'hot desk, from the community building, and have meeting space to see clients. Targeted Services in CASW include Reach Out and Help IROAHI in Stratford and the Court Desk 5UPPOrt {thank5 to Stratford District Councill- the foodbank collaboration with Stratford Foodbank,. MAPS projett (debt support), Advice Action Empower Warwick (thanks to Oken Trust, The King Henry Vlll Endowed Trust and Warwick Town Council). All central services, including HR, Payroll and Finance. are delivered from our Leamington Spa office lon Hamilton Terrace), where we have been based for many years. The lease 15 in the process of being renewed, and we are grateful for the help from Warwick Distritt Council. The building has had a Small investment to upgrade and redecorate, and we deliver a drop-in service on Tuesdays and Wednesdays, with appointments on site acr05S the week. These face to face services are delivered by our valued team of volunteer Generalist Advisors and we are seeing more clients every week.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 Leamington is also the location of our Telephony service, which we launched in May 2023. This is a collaboration with Bedworth, Rugby & Nuneaton Cit12ens Advice IBRANCABI, who operate a hub in Bedworth and North Warwickshire, who support the service with volunteers. The service is funded by Warwickshire County Council, and offers a single accessible telephone number across the County, with paid staff and volunteers delivering telephone advice every day from 9am 4pm. This service has taken 10,750 calls up to the end of March 2024, and in 90% of cases we are able to meet all advice needs on the telephone. Those clients for whom English is a second language, or who have other access issues, or very complex needs, are offered a face to face appointment to see an Advisor. The service has been very successful, with almost 60% of demand being met, and we have funding in place until the end of the financial year in 2025. Work is underway for continuation funding to keep this very important and reliable service in place for our clients, and it demonstrates our commitment to partnership working. Our collaboration with BRANCAB and North Warwickshire enables us all to share costs for key staff. and to stretch our resources further. It also enables us to respond to more funding opportunities, which builds our resilience for the future. The dedicated services of our shared Operations Manager since June 2022 has made an enormous contribution to our organisational development, and strengthens the partnership between the two CEOS, and the wider supervision and volunteer training team. Huge thanks must go to these staff for their flexibility and commitment. There are other ways for people to contatt us: we offer advice sessions at a range of external locations, where clients can avoid the need to travel into town centre locations to see us. These are funded by some of our Town and Parish Councils and other local funders {Warwick Relief in Need for example). In the past year we have launched services at Fred Winter Centre in Stratford, and Brunswick Hub in Leamington (thanks to UK Shared Prosperity Fund funding from Warwick District Council). and we also offer services at the following locations: Alcester Bidford Brunswick Studley Kenilworth Shire Hall Warwick Southam The Sydni Centre Wellesbourne We also deliver services from the Community Pantry in Lillington two days per week. This very successful collaboration with Feed the Hungry, and funded by Warwickshire County Council. has encouraged 700 people to become members (Q3 2023-2024). and supported over 1500 clients. Funding is in place for a further two years for this really critical support. We could not deliver our services without the enduring support of many long standing funding bodies and local authorities. At a time when Counci15 are under considerable pressure, and other funders are receiving huge demand from the charitable settor, we rna1n grateful for their continued commitment.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Volunteers We remain a volunteer led organisation and we have spent time this financial year investing in the training and support of many new volunteers, thanks in no small part to funding received from the National Lottery 'Back on Track, fund, which enabled us to start 20 new volunteers on their journey, with the IT equipment and training they need to be successful. This funding, which supported core costs , has been a game changer for us in this financial year, and has allowed us to strategically deploy considerable capital resources to roll out our training to more volunteers. The volunteer training programme lasts for around 6 months, and the programme is designed to be replicated across the whole county, meaning we can maximise training resources with other local offices. Our Training Officer is leading this work across the County, and ensuring we have the volunteers we need to continue to support more people who need our advice. Strategic Direction & Public Benefit As part of our national Citizens Advice Leadership Self Assessment inspection held in 2023, a new Strategic Business Plan was created with the following objectives under our Transformation Programme: Our Service Model - our operating model and projerts Meeting the demand from clients where, how and when it is needed most, and reducing back office costs Our People- Culture and Leadershlp Creating a diverse, thriving environment by attracting, training, developing and retaining our staff and volunteers Our Infrastructure- Buildings and IT Ensuring our IT, systems and venues are fit for purpose, well supported and maintained Our Finances- our financial model and fundraising strategy Maximising our income streams, making our service delivery more efficient and reducing our deficit Our Quality - maintaining high quality services for our clients Following a successful staff and volunteer awayday, we created a 'Plon on a Page, which was an accessible way for staff and volunteers to understand our direction of travel. The Strategic Business Plan for our very succe55ful inspection in the summer of 2023 will be refreshed in 2024, and we will have a new Plan on a Page for this coming financial year. Coupled with our newly launched CASW Values, the organisation is now in an excellent position to offer both career opportunities, and volunteering opportunities in this sector. Our commitment to staff has seen us invest 5% in salary increases, coupled with a review of other Terms & Conditions, including the annual leave entitlement. There is more work for us to do to be an 'Employer of Choice, in warwicksh1, and that is our aim. However, CASW pays among the highest salaries across all roles in the sector {evidenced from National Citizens Advice Pay & Benefits Data 2023 and 2024), reflecting the value of our staff, and the importance we place on their daily commitment to our clients.This is also reflected in the work we do to celebrate staff and volunteers acr055 the year- in June 2023 we held a Volunteer Tea Party during Volunteers Week, and staff social events both in August and December. Every month the Chief Executive Officer and management team produce a Staff and Volunteer Start the Month Newsletter, which has improved communication across the organisation, and which includes updates from across our services, and celebrates our achievements both individually and a5 a wider team.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Overall Service Delivery As indicated we have improved and extended our service during 2023-2024, seeing more clients in person. on the telephone and at our drop in services in Stratford and Leamington Spa. In the financial year ltt April 2023 - 31st March 2024 8,460 clients were helped (compared with 4,506 in 2022-20231, CASW offices and outreaches opened 10,116 cases and undertook 31,620 activities to support these clients. The total issues dealt with were 39,398 and the top five issues were Benefit5 and tax credits; Universal Credit; Housing Employment and Debt. The total income gain for these clients was an incredible £7,406,778 Number of volunteers on average through the year- 54 Number of staff working through the year: 21 FTE on average Charitable support available to clients In the dynamic landscape of individual grant funding, CASW is in the very privileged position of both holding several grant funding pots internally on behalf of various funders, as well as having the ability to access additional funding from external agencies. Having dirett access to individual grant funding which improves the lives of our clients, together with the effective management and administration of these funds is an essential lynchpin for the organisation and provides an invaluable service to the wider community of South Warwickshire. CASW holds and administers a number of funds on behalf of various charities. At present the funds are administered primarily by a volunteer who dedicates two days a week to this invaluable provision and is overseen by our Grants Oversight Officer.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Research & Campaigns A twin aim for every Citizens Advice is to champion the Client's voice at a local and national level, and this is through our crucial Research & Campaigns function. The local offices in Warwickshire have collaborated on a shared role focused on Research. Campaigns and Social Policy, and drawing together this work across the County. Our officer started in June 2023, The overarching aims were to: -Hear the voices of our clients, Gnd ourfront line advisers, and moke those voices heard by local and national decision-makers and influencers.. This role co-ordinates both internal and external activity, building our knowledge as an organisation, and as a County, and ensuring that national campaigns from Citizens Advice are promoted and supported locally. Additionally, the role produces a huge amount of data and trends analysis which is critical for our local authority partners, as well as other stakeholders. Examples of activity, alongside a quarterly newsletter for many local stakeholders: Scams awareness (national 'scam awareness fortnight'l Consumer rights (National Consumer Week- parts l &11) Fuel poverty (national 'Energy Savers Week'}. (other national campaigns) Stop Loan Sharks Week Get Safe Online Week Carers, Week. (local campaigns) Homelessness prevention awareness week ID Theft-ID Fraud week, and Support for numerous 'benefit-take-up' efforts. This role will provide significant support to our new website, which will launch in the summer of 2024, and which will spotlight local news and campaigns, as well as providing critical information to our clients. Organi5ational Structure The organisation is led by our dedicated volunteer Trustee Board, with Chair of Trustees Irene Stark. There are three sub-committees reporting into the Trustee Board: Human Resources Sub-committee Information Services Sub-committee (IT and Service delivery) Finance Sub-committee The CEO. Julie Robinson, is in charge of the day-to-day leadership of the charity with the support of an Operation5 Manager: Key Advice Service Managers and Supervisors. Succe55ful recruitment this year has strengthened the management team, and will continue to embed their development during 2024-2025.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The Directors are pleased to report a surplus of £52.Ik for the financial year, arisinE in part as a result of the vacation of the leased Stratford offices in July 2023. CASW held some £627k of cash as at 31 March 2024 a relatively high balance but not unexpected as the balance includes £224k remaining from a generous legacy donation received in 2020121. Plans are in place to utilise this legacy over the coming years Total reserves at 31 March 2024 were £589k, comprising General reserves of £344k, a designated Buildings Reserve of £15k, a designated Client Emergency Fund Reserve of £2k and Restricted Reserves of £228k lincluding the above-mentioned legacy). CASW is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. The organisation maintains a projection of income and will ensure that income continues to be derived from as wide a variety of sources as possible. It will take all necessary steps to ensure that at no time within this period would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation that it could not be managed. so as to continue to provide a best value advice service. In reviewing the potential costs that could arise should a significant reduction in income be incurred, the Trustees have determined that 'free' reserves should be maintained of between 3 and 6 months normal operating expenditure. Free reserves as at 31 March 2024 were £344k, representing around 4.5 months normal operating expenditure. Principal funding sources & support The Trustees extend their gratitude to all funders of the organisation without whom we could not continue our work, and who have been supportive and proactive with their support as we reconfigure our seprfices after the impact of Covid 19. We also recognise the support and closer working relationships with Trustees at Bedworth. Rugby & Nuneaton Citizens Advice, (BRANCABI and with North Warwickshire Citizens Advice. CASW'S governing documents give the Trustees the power to invest or deposlt funds in any lawful manner whilst having regard to the suitability of investments and the need for diversification. In practice the majority of CASW'5 funds are spent in the relatively short term so there are currently no long term (greater than 12 months) investments. The Trustees seek to obtain the maximum interest possible on cash balances whilst mitigating risks and so investment decisions consider factors such as return, credit ratings, liquidity and Financial Services Compensation Scheme protections. Social, environmental and ethical factors are a150 considered. The Trustee Board reviews the investment policy on an annual basis. Major risks The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that Systems are in place to mitigate exposure to th05e major risks. The Risk Register forms part of the discussion at every Board meeting,. closed risks remain visible so that progress is assessed, and mitigating actions are discussed with the CEO and Senior Management Team.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structurep governance and management The charity is a registered charity and a company limited by guarantee. The maximum liability of each member is limited to £1. CASW is governed by its Memorandum and Articles of Association. Warwick District Citizens Advice Bureau. now Citizens Advice South Warwickshire, was incorporated as company limited by guarantee on 6th October 2004. The charity commenced its charitable activities on 1st April 2005 following the transfer of all assets and liabilities from Warwick District Citizens Advice Bureau (Charity Registration Number 2186501. The Trustees, who are also the directors for the purposes of company law, and who served during the year and up to the date of signature of the financial statements were:_ SECole Y Hunter N B Knapman A J Townsend G Fitzgerald l M Stark H J Serrano K A Payne N An50n L Pound S Lightfoot J Whitehill K Kalsi (Resigned 16 November 2023) (Resigned 16 November 2023} (Resigned 16 November 20231 (Resigned 27 June 20231 (Appointed 24 January 20241 (Appointed 24 January 2024) (Appointed 24 January 2024}
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recruitment and appointment of new trustees Trustees, who are also Directors of the Company, are elected from the local community and are nominated by members, or co-opted by the Trustee Board. They are elected at the Annual General Meeting. A separate process agreed by the Trustee Board is followed for the election of the Chair. New Trustees receive a full induction, meeting other Trustees and spending time with Supervisors, Volunteers and Staff to understand the service we offer. This is tailored to their individual experience and interests. Arrangements for setting pay and remuneration of key management personnel Key management personnel, excluding Trustees. are remunerated by way of annual salary and pension contributions. The company offers all eligible staff the option of joining a workplace pension provided by The People's Pension and makes an employer contribution to the scheme in line with applicable legislation. The CEO'S salary is set by the Board. The principal aim is to offer a fair pay that will attract and retain appropriately skilled staff. The pay policy is reviewed annually. None of the Trustees, or any persons connected with them, receive any remuneration from CASW. The charity has taken out Directors, insurance as permitted by the Companies Act 2006. None of the Trustees has any beneficial interest in the company. All of the Trustee5 are members of the company. Organisational structure CASW is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The Trustees carry the ultimate responsibility for the conduct of the charity and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet regularly and delegate the day-to-day operation of the organisation to the CEO. The key management of the organisation 15 represented by the CEO and a supporting team of currently four managers. The Trustee Board is independent from management. A register of member5 and a register of Trustees, interests is maintained at the registered office, and is available to the public. CASW is one of over 250 individual charities that are part of The National Association of Citizens Advice Bureaux (company registration no. 014369351. The national charity help5 the local Citizens Advice charities deliver their services Ifor example by 5ettin8 national quality and governance standard51 and jointly deliver other services at a national level leg debt advice funded by the Money and Pensions Service). The national charity also offers model operating policies which local offices can take into account in preparing their own policies. Auditor In accordance with the company's articles. a resolution proposing that Burgis & Bullock be reappointed as auditor of the company will be put at a General Meeting.
CITIZENS ADVICE SOUTH WARWICKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of information to auditor Each of the Trustees has confirmed that the is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identfy such relevant information and to establish that the auditor is aware of such information. The Trustees, report was approved by the Board of Trustees. l M Stark Trustee 04 Sep 2024 Date:........
CITIZENS ADVICE SOUTH WARWICKSHIRE STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the directors of Citizens Advice South Warwickshire for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pratticel. Company Law requi5 the Trustees to prepare financial statements 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 SOurCes, including the income and expenditure, of the charitable company forthat year. In preparing these 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; 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 with 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 a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detettion of fraud and other irregularities. 10-
CITIZENS ADVICE SOUTH WARWICKSHIRE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CITIZENS ADVICE SOUTH WARWICKSHIRE Opinion We have audited the financial statements of Citizens Advice South Warwickshire (the 'charity'l 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 UKand Republic of IrelGnd {United Kingdom Generally Accepted Accounting Practice}. 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 resources, including its income and expenditure, for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI {15As IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the oudit of the finonciol stotements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibiltties of the Trustees with respect to going concern are described in the relevant sections of this report. 11
CITIZENS ADVICE SOUTH WARWICKSHIRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE SOUTH WARWICKSHIRE 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 information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit., the information given in the Trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements: and the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statement5 are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. 12-
CITIZENS ADVICE SOUTH WARWICKSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE SOUTH WARWICKSHIRE Responsibilities of Trustees As explained more fully in the statement of Trustees, responsibilitie5, 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, a5 applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liqu idate 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 Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. We gained an understanding of the legal and regulatory framework applicable to the charity and the Sector in which it operates and assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Based on our understanding of the charity we identified that the principal risk of non-compliance with laws and regulations related to breaches of the Charities Act 2011; Companies Act 2006; Safeguarding and GDPR regulations- and the charity's constitution. We also evaluated management incentive and opportunities for fraudulent manipulations of the financial statements. 13-
CITIZENS ADVICE SOUTH WARWICKSHIRE INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE SOUTH WARWICKSHIRE Audit procedures performed included: Identifying and assessing the design effectiveness of controls in management have in place to prevent and detect fraud. Challenging assumptions and judgments made by management in their significant accounting estimates and assessing if these indicate evidence of management bias; Reviewing the accounting records for large and unusual bank payments and testing any identified and in particular the rationale for any transactions which appear to be outside of the charity's objectives. Testing a sample of debit entries in the profit and loss account to check they are bona-fide costs in accordance with the charity's objectives. Testing for the existence of related party transactions and confirming identity of relevant parties with Trustees. Making enquiries of those charged with governance as to any instances of non-compliance with laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation A further description of our responsibilities is available on the Financial Reporting Council's website at.. https://www.frc.org.uk/auditorsre5ponsibilities. This description forms part of our auditor's report. Other matters The prior year figures were not subject to an audit, we have audited opening Balance Sheet positions as part of our audit. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 14-
CITIZENS ADVICE SOUTH WARWICKSHIRE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF CITIZENS ADVICE SOUTH WARWICKSHIRE Wende Hubbard FCCA (Senior Statutory Auditor) for and on behalf of Burgis & Bullock Chartered Accountants Statutory Auditor 8 Elm Court Arden Street Stratford upon Avon CV37 6PA 15
CITIZENS ADVICE SOUTH WARWICKSHIRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestricted Unrestricted Restricted funds funds funds general designated 2024 2024 Total Total 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Advice Services 3,657 3,657 3,718 530,946 613,393 1,144,339 864,513 Fundraising Interest receivable Other income 759 23,989 1.367 759 23.989 1,367 1,773 11,266 1,085 Total income 560,718 613,393 1,174,111 882,355 enditure on". Charitable activities Advice Services 428,572 500 683,082 1,112,154 1,057,658 Total charitable expenditure 428,572 500 683.082 1.112,154 1,057,658 Other 13 9,897 9,897 Total resources expended 438,469 500 683.082 1,122,051 1,057,658 Net incoming/{outgoing) resources before transfers 122,249 1500) {69,689} 52,060 {175,3031 Gross transfers between funds 15 138,9791 38,979 Net income/lexpenditure) for the year/ Net movement in funds 83.270 {5001 130,7101 52,060 1175.303} Fund balances at l April 2023 261,216 17.538 258,214 536,968 712,271 Fund balances at 31 March 2024 344,486 17,038 227,504 589,028 536,968 The statement of financial activities include5 all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 16-
CITIZENS ADVICE SOUTH WARWICKSHIRE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH2024 Prior financial year Unrestricted Unrestricted Restricted funds funds funds general designated 2023 2023 Total 2023 2023 Notes Income and endowments from: Donations and legacies Charitable activities Advice Services 3,718 3,718 371,088 493,425 864,513 Fundraising Investments Other income 1,773 11,266 1,085 1,773 11,266 1,085 Total income 388,930 493,425 882,355 enditure on: Charitable activities Advice Services 450,422 50.000 557,236 1,057,658 Totsl resources expended 450,422 50,000 557,236 1,057,658 Net incominglloutgoingl resource5 before transfers {61,4921 150,0001 163,8111 {175,303) Gross transfers between funds 15 (18.2641 12,0001 20,264 Net income/(expenditure) for the yearl Net movement in funds 179,7561 {52,0001 143,5471 1175,3031 Fund balances at l April 2022 340,972 69,538 301,761 712,271 Fund balances at 31 March 2023 261,216 17,538 258,214 536,968 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Att 2006. 17-
CITIZENS ADVICE SOUTH WARWICKSHIRE BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible asset5 16 14,346 Current assets Debtors Cash at bank and in hand 17 79,827 626,829 57,555 610,307 706,656 667,862 Creditors: amounts falling due within one year 18 1117,628) 1145,2401 Net current assets 589,028 522,622 Totsl assets less current liabilities 589,028 536,968 The funds of the charlty Restricted income funds Unrestricted funds - general Unrestricted funds designated 22 227.504 344,486 17,038 258,214 261,216 17,538 21 589,028 536,968 04 Sep 2024 The financial statements were approved by the Trustees on S4..L l M Stark Trustee H J Serrano Trustee Company registration number 05252247 {England and Wales) 18-
CITIZENS ADVICE SOUTH WARWICKSHIRE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 26 17,467) 1131,1811 Investing activities Investment income received 23,989 11,266 Net cash generated from investing activities 23,989 11,266 Net cash used in financing activities Net increaselldecrease) in cash and cash equivalents 16,522 1119,915} Cash and cash equivalents at beginning of year 610,307 730.222 Cash and cash equivalents at end of year 626,829 610,307 19-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2024 Accounting policies Charity information Citizens Advice South Warwickshire is a private company limited by guarantee incorporated in England and Wales. The registered office is 10 Hamilton Terrace, Leamington Spa, Warwickshire, CV32 4LY. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" las amended for accounting periods commencing from l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the function31 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 At the time of approving the financial statements the Trustees consider that they have adequate resources to continue in operational existence for the foreseeable future. Whilst the Trustees acknowledge that the cessation of certain income streams in the future could lead to the reporting of a deficit based on current levels of expenditure, they continue to review and explore new funding sources as well as closely monitoring expenditure commitments. Thus they continue to adopt the going concern basis of accounting in the preparation of the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fund5 a set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recogniséd once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant 15 recognised at the time of the donation. -20-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 Accounting policies (Continued) Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.5 Expenditure Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Charitable activities include expenditure associated with the provision of advice and information for the benefit of the local community. The expenditure includes both the direct costs and the support costs relating to these activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and have been allocated to activities on a basi5 consistent with the use of resources. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirement5. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment1055es. To be capitalised the item purchased must have a price of more than £750 and an estimated life of more than 12 months Depreciation is recognised 50 as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Tenants, improvements Fixtures, fitting5 and improvements Computer equipment over the lease term straight line over 10 years straight line over 3 years The gain or 1055 arising on the disposal of an asset 15 determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 21
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2024 Accounting policies (Continued) 1.7 Impairment 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 amou nt of the asset is estimated in order to determine the extent of the impairment loss lif any}. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liqu id investments. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther 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 simultaneously. Basic financial assets include debtors, cash and bank balances. Debtors are measured at transaction price after any discounts offered. Prepayments are valued at the amount prepayed after taking into account of any discounts due. Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operation from suppliers. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recogni5ed immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense a5 they fall due. -22-
CITIZENS ADVICE SOUTH WARWICKSHIRE 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 estimates and associated assumptions are based on historical experience and other factors that are conSided to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to 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. In the prior accounting year an estimated provision of £50,000 was included for dilapidation costs that were incurred following the vacation of one of the charity's offices in July 2023. The estimate was based on the initial quote received with some adjustment for works no longer required, as assessed by the charity's management. There are no such provisions this year. Donations and legacies Unrestricted Unrestricted funds funds general general 2024 2023 Donations, legacies and gifts 3,657 3,718 -23-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Advice services income 1,144,339 864,513 Analysis by fund Unrestricted funds - general Restricted funds 530,946 613,393 371,088 493.425 1,144,339 864,513 The Advice Services income included under restricted funds can be seen in greater detail in note 22. During the year the charity received £496,56612023: 478,8651 of government grants. Income from fundraising Unrestricted Unrestricted funds funds general general 2024 2023 Income from fundraising 759 1,773 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 23,989 11,266 -24-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other income Unrestrirted Unrestricted funds funds 2024 2023 Other income 1,367 1,085 Expenditure on ¢harltable activities Advice and Advice and support support 2024 2023 Direct costs Staff costs Depreciation and impairment Staff and Volunteer expenses Office and general Premises costs Grants paid to other Citizens Advice offices Dilapidation costs 732.113 4,449 25,608 100,672 63,564 167,114 735.397 4,449 30,788 83.534 96.716 29,573 50,000 1,093.520 1,030.457 Share of support and governance costs (see note 9) Governance 18.634 27,201 1,112,154 1,057,658 Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 428,572 500 683,082 450.422 50,000 557,236 1,112.154 1,057,658 -25-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance Costs Costs 2024 Support Governance costs costs 2023 Legal and professional Bank charges AGM and other meeting costs Audit/ Independent examination fees 7,598 2,105 7,598 2,105 12,468 2,287 12,468 2,287 2,571 2,571 6,016 6.016 6,360 6.360 6,430 6,430 18,634 18,634 27,201 27,201 Analysed between Charitable activities 18,634 18,634 27,201 27,201 10 Net movement In funds 2024 2023 The net movement in funds is stated after charging/{crediting}: Depreciation of owned tangible f ixed assets Loss on disposal/impairment of tangible fixed assets 4.449 9,897 4.449 11 Trustees None of the Trustees {or any persons connected with them) received any remuneration from CASW during the year. However, benefits by way of prize fund5 totalling £8 were paid out to one trustee during the year (2023 - £nill. -26-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees The average number of full time equivalent employees during the year was.. 2024 Number 2023 Number Management Administration and advisors 18 17 Total 21 21 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 669,427 42,516 20,170 669,998 45,143 20,256 732,113 735,397 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows: 2024 2023 Aggregate compensation 61,759 53,316 13 Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Net loss on disposal/impairment of tangible fixed asset5 9,897 27-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 15 Transfers At the year end transfers were made from the unrestricted funds to certain restritted funds to finance deficits where they have arisen. 16 Tangible fixed assets Ten•nts' Fixtures, fjttings Improvements and Improvernents Computer equipment Total Cost At l April 2023 Disposals 152,078 54,598 62,165 268,841 1152,078) 154,5981 162,1651 1268,841) At 31 March 2024 Depreciation and impairment At l April 2023 Depreciation charged in the year Eliminated in respect of disposals 137,732 254,495 4,449 4,449 1142,1811 154,5981 162,1651 1258.9441 54,598 62,165 At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 14,346 14,346 17 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 12,114 45,441 74,827 79,827 57,555 -28-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Creditor5: amounts falling due within one year 2024 2023 Notes Deferred income Other creditors Accruals 19 51,160 38,757 27,711 30.979 77.232 37,029 117,628 145,240 Within other creditors is £24,657 held by the charity as agent. During the year £72,761 was received into these funds and £66,296 was distributed to beneficiaries. 19 Deferred income 2024 2023 Other deferred income 51,160 30,979 Deferred income is included in the financial statements as follows: Grants of £30.979 received in advance during the prior year were released in the SOFA as income in the current year. £51,160 of the above current year total represents grant income received in the current year but carried forward for future years. 20 Retirement benefit schemes 2024 2023 Defined contribution Schemes Charge to profit or loss in respect of defined contribution Schemes 20,170 20,256 The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -29-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrestricted funds - designated These are unrestricted funds which are material to the charity's activities. At l April 2023 Resources expended Transfers At 31 March 2024 Building reserves Client emergency fund 15,038 2,500 15.038 2,000 15001 17,538 {5001 17,038 Previous year: At l April 2022 Resources expended Transfers At 31 March 2023 Building reserves Client emergency fund 65,038 4,500 150,0001 15,038 2,500 12,0001 69,538 150,0001 12,000) 17,538 -30-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At l April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Reach Out and Help- Stratford MAPSDAP WCC Telephony National Lottery- Back on Track Stratford outreach Warwick outreach Kenilworth outreach Orbit WBAS Court Desk Reach Out and Help Warwick Foodbank Project Ellis Legacy Community pantry 2,121 2.570 41,667 87,324 43,404 141,603) 199,217} 145,2701 2,185 9,323 1,866 74,247 3,131 7.000 12,600 145,362 38,600 66,413 71,645 174,3281 14,3121 117,3521 118,3541 {146,4111 {46.4981 (72,4121 171,430) 122,4201 123,4751 81 1,181 10,352 5,754 1,049 7,898 7,340 1,341 215 223,763 246,183 22,000 1.475 258.214 613,393 1683,0821 38,979 227,504 31
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted funds (Continued) Previous year.. At l April 2022 Incoming resources Resources expended Transfers At 31 March 2023 ROAH 3 MaPSDAP Breakthrough Stratford outreach Wamick outreach Kenilworth outreach Orbit WBAS Court Desk Reach Out and Help Warwick MaPSDAP Trainee NHS Referrals Foodbank Project Ellis Legacy Community pantry 2,868 6.365 2,021 25,301 81,713 31,793 29,489 10,500 12,600 84,793 38,600 54,774 37,545 26.250 39,267 126,0501 189,5891 131,7931 {37,9011 119,4611 118,8321 185,0631 140,8891 164,5011 138,3561 126,2501 151,846} {4,534} {22,1711 2,121 2,570 4,081 {2,0211 8,412 8,961 4,277 270 2,289 1.955 17,066 4,892 15,764 7,340 14,0811 115,764) 12.579 250,717 113 246,183 20,800 1,258 301,761 493,425 1557,2361 20,264 258,214 32-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Restricted funds (Continued) ROAH 3 / ROAH Stratford -the ROAH team visit people in crisis in their own homes to provide advice and support on a variety of issues, including benefits and debt management. The team also apply for hardship grant funding for people who urgently need items such as clothing, white goods and furniture MapSDAP a Money and Pensions Service IMaPS1 funded debt advice project in partnership with national Citizen5 Advice under which specialist debt advisors based in both Leamington and Stratford help people to prioritise and manage debts, set up affordable payment plans and manage better on their income. MapSDAP Trainee - additional funding received to train up an additional specialist debt adviser. Breakthrough - a mentoring programme supporting financial capability and helping people overcome barriers to education or employment opportunities WCC Telephony- a project funded by Warnickshire County Council and delivered in partnership with BRANCAB, a sister Citizens Advice office, to deliver advice services to clients over the telephone. National Lottery Back on Track- A project. funded by the National Lottery Community Fund, to 5UPPOrt the organisation in recruiting, training and developing additional volunteer advisers. Reach Out Older People - an outreach service focusing on providing home based advice and support for Stratford based clients aged over 65. Stratford outreach the provision of generalist advice at various locations around the Stratford district Warwick outreach the provision of generalist advice at various locations around the Warwick district Kenilworth outreach- the provision of generalist advice at Kenilworth Library Court Desk- the provision of expert representation at County Court for clients experiencing the threat of eviction or home repossession Orbit Welfare Benefits Advice Service project delivered in partnership with BRANCAB, a sister Citizen5 Advice office. to deliver an easily accessible welfare benefits advice service to Orbit customers to help reduce financial exclusion and reduce the pressure of cost of living increases Reach Out and Help Warwick - the provision of home based advice and support to people in crisis in the Warwick district NHS Referrals - a project to help train and support NHS staff in identifying patients who may benefit from support from Citizens Advice. Foodbank Project- a project to provide dedicated caseworker support to clients of the Stratford Foodbank. Ellis Legacy - A legacy from the late Rosemary Le May Ellis for the provision of counselling service5. Community Pantry - a project, funded by Warwickshire County Council, aiming to help address issues of food poverty in the county by the establishment of a static Lillington Community Pantry. -33-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Analysis of net assets between funds Unrestricted Unrestricted funds funds general designated 2024 2024 Restricted funds Total 2024 2024 At 31 March 2024: Current assetsllliabilitiesl 344,486 17,038 227,504 589,028 344.486 17,038 227,504 589,028 Unrestricted Unrestricted funds funds general designated 2023 2023 Restrirted funds Total 2023 2023 At 31 March 2023: Tangible assets Current assets/lliabilitiesl 14.346 246,870 14,346 522.622 17,538 258,214 261,216 17,538 258.214 536,968 24 Operating lease commitments Lessee At the reporting end date the charity had outstanding commitments 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 1,665 4,356 29,465 536 6,021 30,001 25 Related party transactions There were no disclosable related party transactions during the year12023- none). -34-
CITIZENS ADVICE SOUTH WARWICKSHIRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Cash generated from operations 2024 2023 Su rplus/ldeficitl for the year 52,060 1175,3031 Adjustments for: Investment income recognised in statement of financial activtties Loss on disposal of tangible fixed assets Depreciation and impairment of tangible fixed assets {23,989) 9,897 4,449 111,2661 4,449 Movements in working capital: (Increa5el/decrease in debtors IDecreasel/increase in creditors IncreaSe/{decasel in deferred income 122,2721 {47,793) 20,181 17,868 60, 142 127,0711 Cash absorbed by operations 17,4671 1131,181) -35-