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2021-03-31-accounts

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU

(a company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

For the year ended 31 March 2021

Company No. 05190146 Charity No. 1106738

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU CONTENTS

Page
Trustees'/Directors’ report 3 - 9
Independent Examiner’s report 10
Statement of financial activities 11
Balance sheet 12
Cash flow statement 13
Notes to the financial statements 14 - 25

2

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES’/DIRECTORS’ REPORT For the year ended 31 March 2021

The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their report and the independently examined financial statements for the year ended 31 March 2021.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity number: 1106738
Company number: 05190146
Authorised & regulated by the Financial Conduct Authority FRN: 617505
Registered office: 7a St Paul’s Square
Bedford
Bedfordshire
MK40 1SQ
Trustees/Directors: Punckaj Parmar
Dr Thomas G. Inskip
Mark Smith (appointed on 02/06/20)
Corinna Biermann-Wheatley (appointed on 19/12/20)
Fraser Young (resigned on 18/11/21)
Gurdev K. Momi (resigned on 27/08/21)
Jennifer S. A. Shipman (resigned on 18/12/20)
Chris Hall (resigned on 18/12/20)
Duncan A. L. Gear (resigned on 22/10/20)
Senior Management Team: Mark S. Sutcliffe MBE Chief Executive
Gillian E. Grimes Deputy Chief Executive
Benjamin F. Coutts Service Delivery Manager
Daniel C. Deacon Service Delivery Manager
Independent Examiner: George Hay Partnership LLP
Brigham House
High Street
Biggleswade
Bedfordshire SG18 0LD
Bankers: Unity Trust Bank Plc
9 Brindley Place
Birmingham
B1 2HB

3

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES’/DIRECTORS’ REPORT For the year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity (which has the working name of ‘Citizens Advice Bedford (CAB)’) was formed as a Company limited by guarantee on 27 July 2004 (Company Number: 05190146). The full name of the charity is The Bedford & District Citizens Advice Bureau and was registered with the Charity Commission on 12 November 2004 (Charity Number: 1106738). It is governed by its Memorandum and Articles of Association, as last updated on 24 March 2011.

Recruitment and appointment of trustees

Trustees, who are also Directors of the Company, are appointed by the current Trustee Board. A separate process agreed by the Trustee Board is followed for the election of the Chair and Treasurer. No other persons or bodies external to the charity were entitled to appoint persons to the Trustee Board.

Newly appointed Trustees are provided with a comprehensive induction to Citizens Advice Bedford through the provision of CAB training courses and support by established Trustees.

Organisational Structure

Citizens Advice Bedford 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 Bureau and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-to-day operation of the organisation to senior management. The Trustee Board is independent from management. A register of members’ interests is maintained at the registered office and is available to the public.

Key Management Remuneration Policy

The Trustees regularly benchmark the pay of Senior Management in similar sized charity organisations in the locality and also across similar sized Local Citizens Advice organisations.

No member of staff was paid more than £60,000.

Related parties

Citizens Advice Bedford subscribes to the membership scheme of The National Association of Citizens Advice Bureaux (Citizens Advice), the national charity (Charity Number: 279057) which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of the Bureau in order to fulfil its charitable objects and comply with the national membership requirements.

During the 2020/21 financial year, payments were made to Citizens Advice to the value of £6,142 (2019/20: £6,885) in respect of subscriptions and sundries. Receipts from Citizens Advice for contracts and grant funding totalled £260,599 (2019/20: £165,420).

The charity also co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients. Where any of the Trustees holds the position of a Trustee/Director of another charity they would declare a conflict of interest and then may be involved in discussions regarding that other charity but not in the ultimate decision-making process.

4

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES'/DIRECTORS’ REPORT For the year ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Covid-19 and our response to the Pandemic

We are happy to report that CAB’s response to the lockdown restrictions was quick and efficient and we invoked the Business Continuity Plan in March 2020. Our face-to-face access channel was suspended and the service began operating remotely, giving advice through telephone and digital access channels. All staff and volunteers were given the necessary equipment to perform their roles. During the course of the lockdown, CAB continued to deliver specialist and generalist advice across Bedford Borough and offered debt advice across a wider area. CAB adapted its training to deliver a distance learning programme and made use of video conferencing for interactive support. Video calls and messaging were adopted for meetings, supervision and for general catch up between colleagues, to help mitigate feelings of isolation.

The remote service delivery model has proven to be popular with clients and funders and CAB intends to continue and develop this access channel. CAB has reinstated its face-to-face service for the most vulnerable clients and those who are digitally excluded. CAB recognises that the increased austerity that is likely to follow the Covid-19 pandemic will negatively impact many households, who previously did not need support. CAB’s role in the community gains increasing importance and to achieve this effectively CAB will continue developing and transforming the way it delivers advice to reach more people in the community.

Key risks and uncertainties

The trustees have a duty to identify and review risks to which the charity is exposed and to ensure appropriate controls are in place.

The Charity has worked on a Corporate Risk Management exercise. A risk management strategy and risk register were agreed by the Trustee Board. The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. The last full risk assessment was carried out in February 2021.

OBJECTIVES AND ACTIVITIES

The objectives of Citizens Advice Bedford are:

In addition to the continuing provision of high-quality advisory services to the local community, the objective is to work to enable the Bureau to expand its services where possible.

The principal activity of the Bureau remained the provision of free, confidential, independent and impartial advice, information and counsel for members of the public. In addition to generalist advice the following specialist advisory services were provided:

ii) Specialist Welfare Benefits Advice funded by the Harpur Trust iii) Specialist Welfare Reform/Debt Advice funded by the House of Industry iv) Specialist Housing Debt Advice and Court Desk funded by the House of Industry v) Specialist Debt Advice funded by the Money Advice Service vi) Benefit Advice Services to help people resolve concerns around public involvement in health research, design and delivery funded by a number of Health Agencies.

Advisory services were provided through a hybrid of face-to-face and remote consultations as well as email, although advice was also delivered through the use of telephone and social media.

5

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES'/DIRECTORS’ REPORT For the year ended 31 March 2021

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in planning the future activities. In particular, the Trustees considered how planned activities will contribute to the aims and objectives they have set and believe the Charity has complied with the duty in section 4 of the Charities Act 2011.

ACHIEVEMENTS AND PERFORMANCE

Citizens Advice Bedford is the recognised advice agency in Bedford Borough; the Citizens Advice brand is widely recognised and trusted at national and local level. It is recognised as an organisation that provides good quality advice without charge to anyone in need. The office is located in the centre of town and benefits from staff and volunteers who are well trained, enthusiastic, and committed. As well as benefiting from nationally provided knowledge and reference sources, they also have specialist local knowledge which is valuable to clients.

Citizens Advice Bedford saw a total of 4,256 unique clients with 15,740 issues. In addition, we responded to 4,086 emails and the local advice telephone service received 6,225 telephone calls.

The charity generated £1,054,432 in welfare benefit income and wrote off £47,166 worth of debt. The fiscal benefit of providing debt advice is estimated at £719,614.

Contribution of volunteers

The Charity receives help and support in the form of voluntary assistance in advising the public and administering the Charity.

As at 31 March 2021, we had 50 volunteers and we estimate the value of this help equates to £318,641 in respect to the current year.

The Trustee Board and Senior Management Team recognise the invaluable contribution made by our volunteers without whom the service could not operate.

FUNDRAISING ACTIVITIES

The charity did not undertake any fundraising activities during the year.

REVIEW OF FINANCIAL POSITION

During the 2020/21 financial year, CAB delivered a financial surplus of £81,940 (2019/20: surplus of £44,276). This surplus arose primarily through increased income from additional work funded by the Money and Pensions Advice Service. Income overall increased by 11.3% to £595,420 compared to £535,108 in 2019/20, while over the same period expenditure increased by 4.6% to £513,480 from £490,832 in 2019/20.

Expenditure on fixed assets capitalised during the year amounted to £5,365 (2019/20: £NIL), in congruence with our capitalisation policy. Fixed assets are used for charitable purposes and enable staff and volunteers to provide an optimum service to the public.

There is an end of year restricted fund balance of £96,306 (2019/20: £97,999). These funds are expected to be fully spent or returned by 31 March 2022.

6

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES'/DIRECTORS’ REPORT For the year ended 31 March 2021

REVIEW OF FINANCIAL POSITION (continued)

Restrictions and Investment Powers

As required in its Memorandum paragraph 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. The Trustee Board has agreed an investment policy, which includes;

At 31[st] March 2021 the Company had £54,526 invested with the Aldermore Bank in a 6-month fixed rate bond and £91,165 invested with the Cambridge and Counties Bank in a 31-day notice account and an easy access savings account. The investment in Cambridge and Counties exceeded the £85,000 requirement of the policy and with Aldermore exceeded the investment policy in terms of notice period to access funds but both were considered to be a small risk.

The Memorandum of Association authorises the charity to receive income by way of grants, donations, gifts and legacies provided that it does not undertake any permanent trading activities in raising funds for its primary objectives. The Memorandum of Association authorises investment of surplus monies not immediately required, subject only to conditions and consents imposed by law.

Reserves Policy

Citizens Advice Bedford is required to ensure that free monies are available in each financial year to meet any reasonable foreseeable contingency. The Company will maintain a projection of income for at least two years ahead and will ensure that this continues to be derived from as wide a variety of sources possible. They 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 a designated unrestricted reserve should be maintained equal to 3 months’ budgeted operating expenditure, which currently equates to £144,920 (2020: £245,416 – based on 6 months’ normal operating expenditure, as was the policy in the prior year). The Trustees continually monitor this target, a key KPI for the Charity.

The unrestricted and undesignated general free reserves at 31 March 2021 was £69,735 (2020: £131,022) after designating reserves of £144,920 (2020: £Nil). Restricted reserves at the end of the year amount to £96,306 (2020: £97,999).

7

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES'/DIRECTORS’ REPORT For the year ended 31 March 2021

REVIEW OF FINANCIAL POSITION (continued)

Principal Funding Sources

CAB delivered the second year of a 5-year contract on behalf of Bedford Borough Council and continued with The Harpur Trust funded project for welfare benefit advice. CAB continued delivery of 3 x MaPS contracts and the Benefits Advice Service continues to provide funding for clients across England and Wales undergoing research into health and social issues.

Energy Best Deal delivered income throughout the year and CAB was successful in its bid to gain funding to help claimants of Universal Credit. Bedford Borough Council provides a continuous running welfare benefit contract and the House of Industry provides grants for both debt relief and housing contracts.

The Trustees extend their gratitude to all funders for their continued support.

Going Concern

The Charity reported a significant cash inflow of £70,488 for the year and is currently going through a transition period in 2021/22. Whilst the year ending 31 March 2021 was significantly affected by Covid-19, the affect on our project work was minimal from a financial point of view overall. Whilst still not providing face-to-face services, CAB are still providing telephone support to those needing our support/advice and have increased our capacity to deliver services in this way. We expect funding to reduce slightly in 2021/22 and a bit more in 2022/23 but are reviewing our expenditure base and accommodation to reduce costs to match any reduction in funding.

After making further appropriate enquiries, together with reserves and expenditure control, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the twelve months from the date of signing this report. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Political Donations

No donations of monies or donated goods were made to any political parties or political campaigns in the year (2019/20: £NIL).

FUTURE PLANS

CAB’s main priority is the provision of an accessible advice service to the community in Bedford Borough. As previously explained, CAB continued to deliver an advice service during the national lockdown though digital access channels. CAB continue to monitor the situation with the pandemic and the likely impact if the restrictions are reintroduced. CAB will ensure that clients are able to access the service and examine the impact of the pandemic on the issues that are presented. CAB have resumed our face-to-face service delivery but maintain remote working – this limits the number of staff and volunteers required to attend the office and keeps the working environment safe.

In summary CAB will continue to:

8

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES'/DIRECTORS’ REPORT For the year ended 31 March 2021

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company and charity law requires the trustees to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to 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 financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

For the year ended 31 March 2021, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

This report has been prepared in accordance with the Special Provisions for Small Companies under Part 15 of the Companies Act 2006 and the Statement of Recommended Practice: Accounting and Reporting by Charities, preparing the accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011.

The Trustees’ report was approved by the Board, authorised for issue on 20 December 2021, and signed on its behalf by,

Punckaj Parmar Trustee

9

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF BEDFORD & DISTRICT CITIZENS ADVICE BUREAU

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2016 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Colin Airey FCCA Independent Examiner

George Hay Partnership LLP Chartered Accountants Brigham House High Street Biggleswade Bedfordshire SG18 0LD

Date:

10

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES

(Including income and expenditure account) For the year ended 31 March 2021

Note
Unrestricted Restricted
Funds Funds
£ £
Income from:
Donations and legacies 2
1,000 -
Charitable activities 3
187,582 402,808
Activities for generating funds 4
Investments 5
Total income
Expenditure on:
Charitable activities 6,7
Total expenditure
2,490 -
1,540 -
_ _
192,612 402,808
_ _
241,960 271,520
_ _
241,960 271,520
Net income/(expenditure)
before transfer
Transfers between funds17,18
Net movement in funds
Reconciliation of funds:
Total funds brought
forward at 01 April 2020
Total funds carried
forward at 31 March 2021
_ _
(49,348) 131,288
132,981 (132,981)
_ _
83,633 (1,693)
131,022 97,999
_ _
214,655 96,306
_ _		 Total
2021
£
Unrestricted
Funds
£
1,000
150
590,390
205,527
2,490
1,540
___
595,420
___
513,480
___
513,480
32,121
1,633
_
239,431
_
212,199
_
212,199
___
81,940
-
___
81,940
229,021
___
310,961
___
_
27,232
-
_
27,232
103,790
_
131,022
___		 Restricted
Funds
£
-
295,677
-
-
_
295,677
_
278,633
_
278,633
_
17,044
-
_
17,044
80,955
_
97,999
___		 Total
2020
£
150
501,204
32,121
1,633
_
535,108
_
490,832
_
490,832
_
44,276
-
_
44,276
184,745
_
229,021
___

The statement of financial activities includes all gains and losses in the current and comparative year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 25 form part of these financial statements.

11

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU BALANCE SHEET As at 31 March 2021

2021 2020
Note £ £ £
 £
Fixed assets
Tangible assets 13 4,701 -
Current assets
Debtors 14 40,777 21,329
Short-term Investment deposits 145,691 144,151
Cash at bank and in hand 23 172,860 102,372
___ __
359,328 267,852
Liabilities
Creditors: amounts falling due
within one year 15 (53,068) (38,831)
___ ___
Net current assets 306,260 229,021
___ ___
Total assets less current liabilities 310,961 229,021
___ ___
Total net assets 310,961 229,021
___ ___
Funds of the charity
Unrestricted funds: 17
General funds 69,735 131,022
Designated funds 144,920 -
___ ___
214,655 131,022
Restricted funds 18 96,306 97,999
___ ___
Total charity funds 19 310,961
___		 229,021
___

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A – small entities.

For the year ended 31 March 2021 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors’ responsibilities:

The accounts were approved by the Board, authorised for issue on 20 December 2021, and signed on its behalf by,

The notes on pages 14 to 25 form part of these financial statements.

Punckaj Parmar Trustee

12

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU CASH FLOW STATEMENT For the year ended 31 March 2021

Note
Cash flows from operating activities:
Net cash provided by operating activities
22
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of tangible fixed assets
Purchase of investments
5
13
Net cash provided by investing activities
Increase / (decrease) in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the beginning of the
reporting period
Cash and cash equivalents at the end of the
reporting period
23		 2021
£
75,853
1,540
(5,365)
(1,540)
___
(5,365)
___
70,488
___
102,372
___
172,860
___		 2020
£
(25,399)
1,633
-
(1,633)
_
-
_
(25,399)
_
127,771
_
102,372
___

The notes on pages 14 to 25 form part of these financial statements.

13

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

Charitable Company Information

The Bedford & District Citizens Advice Bureau is a private limited charitable company, limited by guarantee, by not having share capital incorporated and domiciled in England & Wales. The registered office is 7a St Paul’s Square, Bedford, Bedfordshire, MK40 1SQ and the company registration number is: 05190146.

1 Accounting Policies

1.1 Basis of preparation

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Bedford & District Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in Sterling and rounded to the nearest £1.

1.2 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds are unrestricted funds reserved by the trustees for particular purposes or if there are funds not easily available for use in liquidity terms.

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 administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Income

All income is included in the statement of financial activities when the charity is entitled to the funds and the amount can be measured with reasonable certainty. Income is deferred only when the charity 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 income is received by way of grants, donations and gifts, including gift aid income where applicable, and is included in full in the statement of financial activities when receivable. Income from government and other grants, where related to 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 deferred .

Donated services and facilities are included at the value to the charity where this can be quantified and is material. The value of services provided by volunteers has not been included in these accounts.

1.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

14

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

1 Accounting Policies (continued)

1.5 Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising funds; comprise the costs associated with attracting 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 to support them.

Support costs include all those overhead costs of office and bureau accommodation, utility services, and other services and costs, which are in support of the activity. They also include those costs not associated with the other two headings and includes costs of meeting the constitutional and statutory requirements of the charity, the audit fees and costs linked to the strategic management of the charity. They have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. staff costs by time spent and other costs by estimated usage.

1.6 Operating leases

The charity classifies the lease of property and printing and telecommunications equipment, as well as fixed service contracts as operating leases; the title to the property and equipment remains with the lessor and the equipment is replaced according to the economic life of the equipment. Rental charges are charged on a straight-line basis over the term of the lease.

1.7 Taxation

The charitable company, being a registered charity with minimal trading income, has been granted exemption from tax under Section 505 of the Income and Corporation Taxes Act 1988. No provision for taxation has therefore been made in these accounts.

1.8 Tangible fixed assets and depreciation

All assets individually or paid for as one invoice, costing £1,000 or more are capitalised.

Tangible fixed assets are stated at cost less depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:

Fixtures & fittings 20% on the straight-line method Computer & office equipment 33.3% on the straight-line method

1.9 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11 Leases

Rental costs under operating leases are charged to the Statement of financial activities in equal amounts over the period of the leases.

15

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

1 Accounting Policies (continued)

1.12 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13 Pensions and retirement benefits

The charity operates a defined contribution scheme. The amount charged to the statement of financial activities in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

1.14 Financial instruments

The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

1.15 Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Judgements

Impairment testing is carried out for all tangible assets at the year end date where there is an indication that impairment exists. For the purposes of impairment testing, the carrying amounts of the tangible assets are reviewed and an impairment loss is recognised where the carrying amounts exceed the assets recoverable amount.

Estimates

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the assets and is recognised in Statement of Financial Activities.

The directors consider that there are no significant areas of key judgement or estimation uncertainty other than those identified in the accounting policies above.

1.16 Going concern

The Charity reported a significant cash inflow of £70,488 for the year and the Charity expects to make a small outflow in 2021/22. Whilst the year ending 31 March 2021 was significantly affected by Covid-19, the affect on our project work was minimal from a financial point of view overall. Whilst still not providing face-to-face services, we are still providing telephone support to those needing our support/advice and have increased our capacity to deliver services in this way. We expect funding to reduce slightly in 2021/22 and a bit more in 2022/23 but are reviewing our expenditure base and accommodation to reduce costs to match any reduction in funding.

After making further appropriate enquiries, together with our reserves and expenditure control, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the twelve months from the date of signing this report. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

16

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

2
Donations and legacies
Unrestricted
Funds
£
Donations and gifts
1,000
___
3
Income from charitable activities
Grants and contract income receivable
for charitable activity – advice and
information
Unrestricted
Funds
£
General Advice:
Bedford Borough Council – Core Contract
Universal Credit Support – Help to Claim
Energy Projects
Other grants
152,500
-
20,922
2,340
Debt Advice:
Money and Pensions Service
House of Industry – Debt Housing
Benefits & Welfare Advice:
Bedford Borough Council – Welfare Benefits
The Harpur Trust
Benefits Advice Service
___
175,762
-
-
___
-
-
-
11,820
___
11,820
Total income from charitable activities
___
187,582
___
4 Activities for generating funds
Unrestricted
Funds
£
Room hire
Other income
2,100
390
___
2,490
___		 Restricted
Funds
£
-
___
Restricted
Funds
£
-
26,510
-
1,300
___
27,810
213,167
72,826
___
285,993
40,005
49,000
-
___
89,005
___
402,808
___
Restricted
Funds
£
-
-
___
-
___		 Total
2021
£
1,000
___

Total
2021
£

152,500
26,510
20,922
3,640
___
203,572
213,167
72,826
___
285,993
40,005
49,000
11,820
___
100,825
___
590,390
___
Total
2021
£
2,100
390
___
2,490
___

 Total
2020
£
150
_
Total
2020
£
157,499
25,437
26,510
3,074
_
212,520
112,854
72,826
_
185,680
40,005
44,555
18,444
_
103,004
_
501,204
_
Total
2020
£
31,106
1,015
_
32,121
_

17

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

5 Investments

Unrestricted
Funds
£
Interest received
1,540
___
1,540
___		 Restricted
Funds
£
-
__
-
___		 Total
2021
£
1,540
___
1,540
___
 Total
2020
£
1,633
___
1,633
___

6 Expenditure on charitable activities by fund

Unrestricted
Funds
£
General Advice
239,679
Debt Advice
Benefits & Welfare Advice
-
2,281
___
241,960
___		 Restricted
Funds
£
16,294
165,867
89,359
___
271,520
___		 Total
2021
£
255,973
165,867
91,640
___
513,480
___		 Total
2020
£
215,189
193,580
82,063
_
490,832
_

7 Analysis of expenditure on charitable activities

Basis of
Allocation


Direct costs:
Salaries and wages Direct
Staff and volunteers Direct

Office costs Direct
Premises costs Direct
Governance Direct
Other costs Direct
Support costs:
Salaries & wages Staff/Hrs
Staff and volunteers Staff/Hrs
Office costs Staff/Hrs
Premises costs Staff/Hrs
Governance costs Staff/Hrs
Other costs Staff/Hrs





Total expenditure on
charitable activities

 General
Advice
£
155,114
108
-
-
-
-
_
155,222
46,501
3,029
19,019
29,162
2,617
423
___
100,751
___
255,973
**_ **		 Debt
Advice
£
118,068
1,274
913
-
-
-
___
120,255
21,794
1,412
7,397
13,592
1,220
197
___
45,612
___
165,867
___		 Benefits
Advice
£
66,733
2,186
329
-
-
-
___
69,248
10,699
693
3,631
6,673
599
97
___
22,392
___
91,640
___		 Total
2021
£
339,915
3,568
1,242
-
-
-
___
344,725
78,994
5,134
30,047
49,427
4,436
717
___
168,755


___
513,480
___
 Total
2020
£
386,737
9,747
904
315
30
49
_
397,782
-
14,158
47,057
20,214
6,036
5,585
_
93,050
_
490,832
_

18

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

8
Net incoming resources for the year
This is stated after charging
Operating leases – land & buildings
Auditor/Examiner’s remuneration:
-
Audit
-
Independent examination
Depreciation and Impairment Charges		 2021
£
43,625
-
3,300
664
___
 2020
£
10,332
3,000
-
673
___

9 Trustees

During the current or previous year no remuneration or benefits for services as a director/trustee have been paid or were payable, directly or indirectly, out of the funds of the charity to any trustee or to any person known to be connected with them. Reimbursement of travel and incidental expenses to the trustees came to £29 during the year to 31 March 2021, paid to one trustee (2019/20: £30 paid to one trustee). Trustees’ expenses related to costs of Trustees’ meetings including the AGM totalled £194 (2019/20: £36).

10
Employees


Number of employees
The average number of employees,
analysed by function was:
Advice workers and support staff
Key management personnel



Employment costs
Wages and salaries
Social security costs
Pensions costs		 2021
FTE
Number
11
4
_
15
_		 2020

FTE
Number


10
4
_
14
_


_
_		 2021
Head
Count
14
4

18

2021
£
379,457
30,113
9,339
__
418,909
__
2020
Head
Count
13
4
17
2020
£
351,548
25,848
9,341
_
386,737
_

No employee received remuneration amounting to more than £60,000 in the period (2019/20: NIL)

The key management personnel of the Charity comprise the Chief Executive Officer, Deputy Chief Executive and two Service Delivery Managers (2019/20: Chief Executive only). The total employee benefits of the key management personnel of the Charity were £142,911 (2019/20: £50,857).

No employees were made redundant in the year (2019/20: None). The total cost of the redundancy payments amounted to £Nil (2019/20: £Nil).

19

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

11 Pensions

There is a defined contribution pension scheme for employees. The basis for allocating the employer expense between activities is based on the salary cost of staff working on that activity. The CAB automatically enrols eligible jobholders into a qualifying scheme in accordance with pensions legislation. The assets of the scheme are held separately from those of the company in an independently administered fund. The fund is a Group Personal Pension Scheme with Standard Life. The pension cost charge for the year represents contributions payable by the charitable company to the fund and amounted to £9,339 (2019/20: £9,341). The cost of the pension is allocated to each individual project within which an employee works. At the year-end £Nil was owed to the pension scheme (2019/20: £257).

12 Volunteers

The Charity receives help and support in the form of voluntary assistance in advising the public and administering the Charity.

As at 31 March 2021, we had 50 volunteers and we estimate the value of this help equates to £318,641 in respect to the current year.

The Trustee Board and Senior Management Team recognise the invaluable contribution made by our volunteers without whom the service could not operate. In accordance with FRS 102 and the Charities SORP, the economic contribution of volunteers is not recognised in the financial statements.

13 Fixed Assets


Cost
At 1 April 2020
Disposals
Additions

At 31 March 2021


Depreciation
At 1 April 2020
Disposals
Charge for the year

At 31 March 2021

Net book value
At 31 March 2021

At 31 March 2020
 Computer
& Office
Equipment
£
52,299
(52,299)
5,365


5,365


52,299
(52,299)
664


664


4,701


-

 Fixtures
& Fittings
£
5,531
(5,531)
-


-


5,531
(5,531)
-


-


-


-

 Total
£
57,830
(57,830)
5,365

5,365

57,830
(57,830)
664

664

4,701

-

20

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

14
Debtors
Prepayments
Accrued income
15
Creditors: amounts falling due within one year
Social security costs
Pensions
Accruals
Other creditors
16
Financial instruments
Financial assets
Financial assets measured at fair value through profit & loss:
- Cash at bank and in hand
- Short term deposits
- Prepayments
- Accrued income
Financial liabilities
Financial assets measured at fair value through profit & loss:
- Taxation and social security costs
- Pensions
- Accruals
- Other creditors		 2021
£
585
40,192
___
40,777
___
2021
£
7,631
-
45,301
136
___
53,068
___
2021
£
172,860
145,691
585
40,192
___
359,328
___
7,631
-
45,301
136
___
53,068
___		 2020
£
-
21,329
_
21,329
_
2020
£
6,874
257
31,700
-
_
38,831
_
2020
£
102,372
144,151
-
21,329
_
267,852
_
6,874
257
31,700
-
_
38,831
_

x

21

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

17 Unrestricted funds

Balance at
01 April
2020
£
General funds
131,022
Designated funds: Reserves policy
-


Total Unrestricted funds
131,022
___
 Incoming
resources
£
192,612
-


192,612
___		 Resources
expended
£
241,960
-


241,960
___
 Transfer
Between
Funds
£
(11,939)
144,920


132,981
___		 Balance at
31 March
2021
£
69,735
144,920
214,655
___

There is a new designated fund of £144,920 to match the reserves policy of 3 months’ budgeted operating costs (2019/20: £Nil).

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of grants received for specific purposes:


Universal Credit – Help to Claim
Money and Pensions Service
House of Industry
Bedford Borough Welfare Benefits
The Harpur Trust
Other

Total
 Balance at
01 April
2020
£
30,256
64,392
(15,758)
2,685
10,147
6,277


97,999
___
 Incoming
resources
£
26,510
213,167
72,826
40,005
49,000
1,300


402,808
___		 Resources
expended
£
16,294
150,855
15,013
52,774
36,584
-


271,520
___		 Transfer
Between
Funds
£
-
(126,704)
-
-
-
(6,277)


(132,981)*
___
 Balance at
31 March
2021
£
40,472
-
42,055
(10,084)
22,563
1,300
96,306
___

Descriptions of Restricted Funds

Universal Credit – Help to Claim: Citizens Advice nationally has contracted with Citizens Advice Bedford to assist people to make a new claim for Universal Credit, from assessment of eligibility for the benefit up to receipt of their first payment. This service is funded until March 2022.

Money and Pensions Service: Citizens Advice nationally has contracted with Citizens Advice Bedford to provide specialist debt advice and support to clients who reside in Bedford Borough. This service is funded until March 2022.

House of Industry: Specialist debt advice for people at risk of becoming homeless. This service is currently funded until March 2023.

Bedford Borough Welfare Benefits: To provide specialist welfare benefit advice to clients of Bedford Borough Social Services clients. This service is currently funded until March 2022 but is expected to be renewed for another year.

The Harpur Trust: To provide for a specialist Welfare Benefits advisor. This service is currently funded until March 2023.

22

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

19
Analysis of net assets between funds
Unrestricted
Restricted
funds
funds
£
£
Fund balances at 31 March 2021 are
represented by:
Tangible fixed assets
4,701
-
Net current assets
209,697
96,306
___
___
214,398
___
96,306
____

Unrestricted
Restricted
funds
funds
£
£
Fund balances at 31 March 2020 are
represented by:
Tangible fixed assets
-
-
Net current assets
131,022
97,999
_
_
131,022
___
97,999
____		 Total
£
4,701
306,003
___
310,704
___
Total
£
-
229,021
_
229,021
_

20 Commitments under operating leases

As lessee:

As at 31 March 2021, the company had commitments under non-cancellable operating leases as follows:

Within one year
Between one and five years		 Land and buildings
2021
2020
£
£
3,750
-
3,333
-
_
_		 Other
2021
2020
£
£
1,515
-
576
-
_
_

23

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

21 Related parties

Citizens Advice Bedford subscribes to the membership scheme of The National Association of Citizens Advice Bureaux (Citizens Advice), the national charity (Charity Number: 279057) which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of the Bureau in order to fulfil its charitable objects and comply with the national membership requirements.

During the 2020/21 financial year, payments were made to Citizens Advice to the value of £6,142 (2019/20: £6,885) in respect of subscriptions and sundries. Receipts from Citizens Advice for contracts and grant funding totalled £260,599 (2019/20: £165,420).

The charity also co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients. Where any of the Trustees holds the position of a Trustee/Director of another charity they would declare a conflict of interest and then may be involved in discussions regarding that other charity but not in the ultimate decision-making process.

22
Reconciliation of cash flows from operating activities
Net income / (expenditure) for the reporting period
Add: Depreciation charge
Less: Dividends, interest and rents from investments
(Increase) / decrease in debtors
Increase / (decrease) in creditors and provisions
Net cash provided by operating activities
23
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
23A
Analysis of changes in net debt
Cash

At start

of year
£
102,372

_

102,372
_

 2021
£
81,940
664
(1,540)
(19,448)
14,237
_
75,853
_
2021
£
172,860
_
172,860
_

Cashflows

in year
£
70,488
___
70,488
____		 2020
£
44,276
673
(1,633)
(3,821)
(64,894)
_
(25,399)
_
2020
£
102,372
_
102,372
_
At end
of year
£
172,860
___
172,860
___

24

THE BEDFORD & DISTRICT CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021

24 Members liability

The Charity (which has the working name of ‘Citizens Advice Bedford (CAB)’) was formed as a company limited by guarantee on 27 July 2004 (Company Number: 05190146). The full name of the charity is The Bedford & District Citizens Advice Bureau and was registered with the Charity Commission on 12 November 2004 (Charity Number: 1106738). It is governed by its Memorandum and Articles of Association, as last updated on 24 March 2011.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

25 Post Balance Sheet Events

At the balance sheet date, restricted funds brought forward and not fully utilised have been quantified. The trustees liaised with funders where appropriate regarding potential reimbursement of funds or employing the available funds in line within their future agreement and engagement. The result of the negotiation is expected at the beginning of 2022.

25