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← Mid Suffolk Citizens Advice Bureau

2024-03-31-accounts

REGISTERED COMPANY NUMBER: 05296023 (England and Wales) REGISTERED CHARITY NUMBER: 1107152

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Mid Suffolk Citizens Advice Bureau

Mid Suffolk Citizens Advice Bureau

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Report of the Trustees 1 to 11
Independent Examiner's Report 12
Statement of Financial Activities 13
Balance Sheet 14 to 15
Notes to the Financial Statements 16 to 26
DetailedStatementofFinancialActivities 27 to 28

Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Objectives and activities

Aims and Principles

We can all face problems that seem complicated or intimidating. At Citizens Advice, we believe no one should have to face these problems without good quality, independent advice.

Our network of charities offers confidential advice online, over the phone, and in person, for free.

When we say we're for everyone, we mean it. People rely on us because we're independent and totally impartial.

No one else sees so many people with so many kinds of problems, and that gives us a unique insight into the challenges people are facing today. With the right evidence, we can show big organisations - from companies right up to the Government - how they can make things better for people.

That's why we're here: to give people the knowledge and the confidence they need to find their way forward - whoever they are, and whatever their problem.

Our Vision and Values

Our vision is to make a positive and lasting difference to the lives of people living and working in Mid Suffolk.

We want to offer an efficient and accessible advice and information service relating to people's legal rights and responsibilities.

We want to offer our services using a holistic approach and acting with our clients in a supportive, empowering, responsible and professional way.

We want to create a working environment that feels equally friendly, welcoming, and respectful to everyone using it.

We operate within an equality framework as agreed by Citizens Advice. This means that we respect equality and diversity and work within several policies and procedures designed to support them, both in our service delivery and in our recruitment, selection and treatment of volunteers, paid staff and Trustees.

Objectives

The main objective was to continue to provide advice and guidance to the community of Mid Suffolk. Our activities for the year end 31st March 2024 were targeted to meet that goal. This work was carried out by a team of generalist advisers and specialist advisers using a drop-in, appointment, email, telephone and virtual advice service available for 30 hours a week. The charity records 14 key areas of advice: benefits, consumer, debt, education, employment, finance, health, housing, immigration, legal, relationship, tax, travel and utilities.

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

In addition to generalist advice, we provided specialist advisory services:

How our activities deliver Public Benefit

Our main activities and who we try to help are described above. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The Board of Trustees have had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011.

Contribution of Volunteers

The charity's success could not have been achieved without the hard work and dedication of volunteers and staff. The Trustee Board and senior management team recognised the tremendous contribution made by the charity's volunteers in advising the public and administering the service without which the service could not operate. Throughout 2023/24 the service employed 14 paid workers (8.57 FTEs) (2022/23: 11 paid workers, 7.65 FTEs), and was supported by 41 volunteers (2022/23: 40 volunteers).

Volunteers represent the indispensable core of the service for without them, there would not be a Mid Suffolk Citizens Advice Bureau service. Volunteers bring skills, experience, time and energy to Citizens Advice service. Through information and advice-giving roles, fundraising, research and campaigns, admin, trusteeship and more, volunteers add huge value and increased capacity to the service. Through volunteering with Citizens Advice, volunteers benefit from gaining new skills and personal development, as well as better wellbeing, a sense of fulfilment from helping others, and community engagement. These positive effects on individuals’ lives have additional value for society, through the advantages and savings associated with having happier, healthier and productive members of the community.

In 2023/24 the volunteers contributed 13,998 hours. This may be expressed as an annualised value of £284,800 (ONS Annual Survey of Hours and Earnings 2020). However, their value is inadequately expressed in monetary terms.

Achievements and performance

During the 2023/2024 financial year, the service was predominantly delivered by telephone and email, face to face and virtually. The number of unique clients increased by 17% to 4,148 (2022/23 3,551) and client issues increased by 25% to 23,337 (2022/23 18,721).

The key achievements of the organisation in 2023-2024 were: * 4,148 unique clients assisted, a 17% increase on 2022/23. * 23,337 advice issues handled, a 25% increase on 2022/23. * 22,250 individual activities, a 7% increase on 2022/23.

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

We use an established model to calculate the financial value of our advice and the positive outcomes for individuals and society.

In 2023/24, Citizens Advice Mid Suffolk generated:

£4.67 for every £1 invested in savings to government and public service (fiscal benefits). £31.41 for every £1 invested in wider economic and social benefits (public value). £19.07 for every £1 invested in value to people we help (financial outcome following advice).

Financial review

Incoming resources in the year were £412,832 (2023: £339,630). Of this £76,432 (2023: £65,245) related to project restricted activities. Expenditure in the year amounted to £352,779 (2023: £319,616) comprised in large part of salaries for our 14 employed staff (8.57 FTE) of £266,436 (2023: £237,418). A surplus of £60,053 (2023: £20,014) was made in the year.

Fundraising activities and Principal funding sources

Total income for the year was £412,832, an increase of £73,202 on 2022/2023. Our principal funding sources were:

The Trustees extend their gratitude to all our funders.

Mid Suffolk District Council, and Suffolk County Council, with whom we share many strategic objectives and who continue to support the core operating capacity of the charity.

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Mid Suffolk Citizens Advice Bureau Report of the Trustees for the Year Ended 31 March 2024

Stowmarket Town Council that provides Mid Suffolk Citizens Advice Bureau with the premises to operate from as well as a grant to subsidise part of the rent. We are also fortunate that many of our local district Town and Parish Councils also provide us with grants to support our core activities which is very much appreciated.

We are also fortunate to receive grants from local charitable trusts. We are grateful to the Rope Trust for their continued financial support which increased to £25,000 per annum in 2023/24 (2022/23 £20,000). In addition, project-specific funding was received from Hopestead, Needham Market & Barking Welfare Charities, the Alfred Williams Charitable Trust and the Geoffrey Burton Trust. These organisations have provided financial support to our organisation over many years which enables us to help those most in need across our communities.

Our work with Citizens Advice nationally included Energy Advice and Innovation projects for which we receive grant funding.

In 2023/24 we also received grant funding from the National Lottery Community Fund to support clients with Cost-of-Living issues.

The charity did not have any borrowings from either a provider of funding or other sources at the Balance Sheet date.

Reserves policy

Mid Suffolk Citizens Advice Bureau is acutely aware of the need to ensure that free monies are available in each financial year to smooth the cash flow and to meet any reasonably foreseeable contingency. Cash flow trends and reserves levels are constantly monitored, and in their planning Trustees and staff try to ensure that income continues to be derived from as wide a variety of sources possible.

We are also aware of the financial pressures experienced by our major funders and our dependence on them and have included this situation in establishing our Reserves policy. Trustees reviewed the potential expenditure that could arise should a significant reduction in income be incurred and determined that a Reserve equivalent to nine to twelve month's unrestricted expenditure should be held.

At 31st March 2024, total unrestricted reserves were £360,401 (2023: £313,726). Of this, £195,000 (2023: 125,000) is designated for specific purposes as outlined below.

Designated reserves

A proportion of unrestricted funds have been designated with the aim of ensuring the charity's sustainability by making provisions for the replacement of equipment in due course, for fulfilling our contractual commitments, for maintaining our premises and moving if necessary, for the development of new and innovative ideas, and for underpinning longer-term strategic investments. These currently amount to £195,000, as detailed in the notes to the financial statements.

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Mid Suffolk Citizens Advice Bureau Report of the Trustees for the Year Ended 31 March 2024

Investment activities

Aside from retaining an amount required to maintain a prudent level of reserves each year, the charity's funds are spent on delivering and developing the free advice service to the community of Mid Suffolk. The reserves were held during the year in a Charities Aid Foundation bank current account, a COIF Charities Deposit Account; a Cambridge and Counties 95-day notice account; a CAF Platinum 30-day notice account a TSB savings account, and a Shawbrook 100-day notice account.

Plans for the future

The organisation has a three-year Strategic Business and Development Plan with detailed emphasis on the current year. The content of the plan is subject to review by the Trustees and is an agenda item at Trustee Board meetings.

Providing a sustainable advice service during the cost-of-living crisis alongside the anticipated large increase in client numbers and client issues remained a priority for the Trustee Board in 2023/24. There is no sign that demand for our services will decrease in the coming 12 months and our plans include how we can help more clients and a need to increase our resources to achieve this. Recruitment of additional volunteer advisers will be key to this and we actively seeking new team members from across our communities.

A strategic priority for the organisation is to improve access to our services particularly for those who have not used them before and for those that live in our rural communities. In 2023/24 we employed two Supported Access Advisers in support of this priority and although the financial outlook is a deficit budget position for 2024/25, the trustees have agreed that this initiative should continue, funded from reserves if they cannot be funded by new income streams.

The funding landscape remains extremely competitive and the charity continues to build on the work completed in the previous financial years. Developing diversified funding streams to increase our sustainability and enable us to build a service that is responsive to client needs.

The charity will continue to work to ensure that it delivers a cost-effective service, meaning that we are not only offering value for money to our existing funders but that we have a viable offer, whilst never compromising on the high-quality service that our clients expect and deserve.

The specific focus this year will be to:

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Structure, governance and management

Governing Document

Mid Suffolk Citizens Advice Bureau is a charitable company limited by guarantee, incorporated on 24 November 2004: Company No. 05296023, Charity No. 1107152. The Company is governed under its Articles of Association adopted by the Annual General Meeting on 25th November 2020. In the event of the company being wound up every member (including members who ceased to be members within one year prior to such winding up) would be required to contribute to the company's assets an amount not exceeding £1.

At 31st March 2024, the company had 13 individual and 5 organisation members (2022/23 11 individual and 5 organisations).

Mid Suffolk Citizens Advice Bureau is also known and referred to as Citizens Advice Mid Suffolk with either term being used throughout these accounts.

Trustee Recruitment and Appointment

In 2023/24 the Trustee Board agreed a new recruitment and induction policy and procedure for new trustees.

New trustees are generated via referrals, advertising and direct approaches made to Citizens Advice Mid Suffolk. A formal interview process is followed for all applicants with an interview panel comprising the Chair and two trustees. A separate process agreed by the Trustee Board is followed for the election of the Chair, Vice-Chair and Treasurer.

Trustees are either initially co-opted by the Trustee Board and then elected to the Board at an Annual General Meeting within three years of co-option or, alternatively, elected directly at an Annual General Meeting. Any election lasts for three years by which time the Trustee can be re-elected.

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Trustee Induction and Training

New Trustees are briefed on their legal obligations under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the strategic business development plan and recent financial performance of the charity. They also meet key employees, volunteers and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the understanding of their role. Training will be organised dependent on the trustee role and previous experience. Attendance at Citizens Advice events and relevant trainings will be encouraged. A date will be arranged for the new trustee to "sit-in" and observe an advice session including observing some Adviser interviews.

Appraisal of the Trustee Board

The Trustees conduct an annual performance appraisal using a Citizens Advice template. Action is taken on any areas under performing to ensure the Trustee Board conforms to best practice.

Organisational Structure

The Trustee Board 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 Mid Suffolk Citizens Advice Bureau and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet quarterly as a minimum, and delegate the day-to-day operation of the organisation to a paid Chief Officer. The Trustee Board is independent from management

A register of members' interests is maintained at the registered office and is available to the public. All Trustees and key employees are required to declare they are a "fit and proper person" to be involved in the running of a charity.

The Trustee Board has two committees and an Overview & Scrutiny group, who report to the Chair of the Trustee Board. The Chair, Company Secretary, Treasurer and Chief Officer are entitled to attend the meetings.

¢ Appeals Committee

The Appeals Committee meets as required. Responsible for:

Membership - Two Trustees not previously involved in the case. Chair to be reserved for final stage appeal.

¢ Overview & Scrutiny Group

Responsible for:

To provide detailed review of key strategic and governance issues, including:

Scrutiny of key reports (especially the Chief Officer and Treasurer reports), discussion of issues arising, specification of further work to be carried out by the management group, and development of recommendation for the Trustee Board.

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Mid Suffolk Citizens Advice Bureau Report of the Trustees for the Year Ended 31 March 2024

Scrutiny of key policies and procedures and development of recommendations for the Trustee Board.

Decision making on topics or issues specifically mandated by the Trustee Board.

Decisions and recommendations from the O&S to be noted and discussed / approved by the Trustee Board.

Frequency of meetings: Meets four times per annum, usually some 14 days before the TB meetings. Membership.

Membership to be The Chair, Treasurer, Chief Officer and two other trustees.

* Investment Committee

Responsible for:

To approve transactions carried out on the Flagstone Investment Platform. This will be a majority decision via email of those replies received within a 3-day notice period.

Frequency of meetings: - As required.

Membership — Chair, Vice Chair and Treasurer

Related Parties

Citizens Advice Mid Suffolk is a member of Citizens Advice, the national association for the Citizens Advice service. With effect from April 2015 Citizens Advice Bureaux became known as Local Citizens Advice (LCA) and Mid Suffolk Citizens Advice Bureau became known as Citizens Advice Mid Suffolk (CAMS). The charity also cooperates and liaises with many other advisory services, local charities, trusts and social services departments on behalf of clients.

Audit process

The charitable company completes a Leadership Self-Assessment (LSA) portfolio as part of our membership agreement with Citizens Advice. This LSA is subject of an annual assessment by Citizens Advice using a Performance and Quality Framework (PQF). Every three years the assessment is a full audit of the nine leadership areas areas to ensure compliance with the Advice Quality Standard (AQS) and the Money Advice Service Debt Advice Quality Framework (MASDAQF).

There are nine Leadership areas assessed are:

  • Equity, Diversity and Inclusion

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

In October 2023, the charity year 2 (3 year cycle) Citizens Advice assessed that the organisation met all the Leadership areas.

Risk management

The Trustees have reviewed their procedures considering corporate governance guidance contained within the Statement of Recommended Practice ‘Accounting and Reporting by Charities’. A risk assessment report is contained within the strategic business development plan. The report considers potential changes to the environment in which the charity is working and highlights how these would impact on its services. The organisation faces a range of operational risks and the key to successful risk management is to identify potential risks, the likelihood of them occurring and then mitigate their impact. The Risk Register is a formal statement of the charity's risk management strategy and how the impact of potential risks can be minimised. Identifying the risks is an important element of risk management and has been given detailed and careful consideration. Mid Suffolk Citizens Advice Bureau's objectives, its internal organisation and the environment in which it operates are continually evolving and as a result, the risks it faces are not constant. The organisation is mindful that it needs to operate under Government guidelines during the pandemic. Organisational success derives, in part, from successful risk taking and so the purpose of internal control is to help manage and control risk appropriately rather than to eliminate it.

The following measures will help minimise the risks:

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Statement of Internal Control

The Trustee Board oversee the information security of all the personal information that is processed, including the personal information of our clients, staff, funders and strategic partners. Mid Suffolk Citizens Advice Bureau hold joint responsibility for client data that is held in our case management system with the national Citizens Advice Service. An information assurance management team exists to ensure the confidentiality, integrity and availability of all personal and sensitive data is maintained to a level which is compliant with the requirements the General Data Protection Regulation and Data Protection Act 2018.

Small company provisions

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number 05296023 (England and Wales)

Registered Charity number 1107152

Registered office 5 Milton Road South Stowmarket Suffolk IP14 1EZ

Trustees

Mr J W Cranfield (appointed 6.3.24) Mr N G K Gowrley Mrs M Hemingway Mrs R Mason Mr D J Muller Mr G J Nunn Mr J P Ramsay Mrs R DL Talbot Mr M A Wangermann Mr M Virgo (resigned 12.1.24)

Approved by order of the board of trustees on 25 (rel 2e24. by:

and signed on its behalf

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Mid Suffolk Citizens Advice Bureau

Report of the Trustees for the Year Ended 31 March 2024

Trustee

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Independent Examiner's Report to the Trustees of Mid Suffolk Citizens Advice Bureau

Independent examiner's report to the trustees of Mid Suffolk Citizens Advice Bureau (‘the Company’)

| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

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, | 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 | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Association of Accounting Technicians, which is one of the listed bodies.

| have completed my examination. | 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. 2; the accounts do not accord with those records; or

  3. 3: the accounts do not comply with the accounting requirements of Section 396 of the 2006 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

  4. 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)).

| 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.

Luke Harvey FMAAT The Association of Accounting Technicians

Date: 26 Octsba- Qo24

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Mid Suffolk Citizens Advice Bureau

Statement of Financial Activities for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 328,565 76,430 404,995 336,005
Other trading activities 3 720 2 722 849
Investment income 4 7,115 - 7,115 2,776
Total 336,400 76,432 412,832 339,630
EXPENDITURE ON
Charitable activities
General - - - -
Subsistence and refreshments 646 82 728 762
Staff travel 463 - 463 336
Staff recruitment 740 93 833 834
Stafftraining 1,644 133 1,777 796
Volunteer training 497 63 560 1,100
Volunteer expenses 2,787 - 2,787 3173
Volunteer other 561 71 632 363
Wages and salaries 194,118 72,318 266,436 237,418
Support costs - Offices costs 38,091 5,516 43,607 40,704
Support costs - Premises costs 26,088 4,091 30,179 29,207
Support costs - Legal and professional
fees 83 15 98 2,173
Support costs - Depreciation 3;353 - 3,353 1,703
Support costs - Other costs 1,243 83 1,326 1,047
Total 270,314 82,465 352,779 319,616
NET INCOME/(EXPENDITURE) 66,086 (6,033) 60,053 20,014
Transfers between funds 14 (19,411) 19,411 - -
Net movement in funds 46,675 13,378 60,053 20,014
RECONCILIATION OF FUNDS
Total funds brought forward 313,726 9,233 322,959 302,945
TOTALFUNDSCARRIEDFORWARD 360,401 22,611 383,012 322,959

The notes form part of these financial statements

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Mid Suffolk Citizens Advice Bureau

Balance Sheet
31 March 2024
31.3.24 31.3.23
Notes £ £
FIXED ASSETS
Tangible assets 9 10,059 5,107
CURRENT ASSETS
Debtors 10 15,159 300
Cash at bank 400,847 378,493
416,006 378,793
CREDITORS
Amounts falling due within one year 11 (43,053) (60,941)
NET CURRENT ASSETS 372,953 317,852
TOTAL ASSETS LESS CURRENT
LIABILITIES 383,012 322,959
NETASSETS 383,012 322,959
FUNDS 14
Unrestricted funds 360,401 313,726
Restricted funds 22,611 9,233
TOTALFUNDS 383,012 322,959

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

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Mid Suffolk Citizens Advice Bureau

Balance Sheet - continued 31 March 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on vee Z eNO hZe2 4. and were signed on its behalf by:

Trustee .

The notes form part of these financial statements

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2024

  1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised 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 amount of 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

1

ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2

DONATIONS AND LEGACIES
31.3.24 31.3.23
£ £
Donations 34,938 32,277
Grants 370,057 303,728
404,995 336,005
Grants received, included in the above, are as follows:
31.3.24 31.3.23
£ £
Mid Suffolk District Council 125,500 125,500
Suffolk County Council 60,910 55,967
Hopestead 5,834 10,000
M S Society - 4,000
Stowmarket Relief Trust - 200
Rope Trust 25,000 20,000
Stowmarket Town Council 7,600 7,600
The National Association of Citizen Advice Bureaux 99,463 74,211
Ipswich and District CAB 17,500 -
National Lottery 22,000 -
Community Chest 6,250 -
Other grants - 6,250
370,057 303,728

Grants received, included in the above, are as follows:

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Mid Suffolk Citizens Advice Bureau

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----- Start of picture text -----
||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Notes|to|the|Financial|Statements|-|continued| |for|the|Year|Ended|31|March|2024| |3;|OTHER TRADING|ACTIVITIES| |31.3.24|31.3.23| |£|e| |Other|income|722|849| |4.|INVESTMENT|INCOME| |31.3.24|313.23| |7a|£| |Deposit|account|interest|(AIS|2,776| |5.|NET|INCOME/(EXPENDITURE)| |Net|income/(expenditure)|is|stated|after|charging/(crediting):| |31.3.24|31.3.23| |£|E| |Depreciation|- owned|assets|3,354|1,703| |Other|operating|leases|23,897|23,757| |6.|TRUSTEES'|REMUNERATION|AND|BENEFITS| |There|were|no|trustees'|remuneration|or|other|benefits|for|the|year|ended|31|March|2024|nor| |for|the|year ended|31|March|2023.|

----- End of picture text -----

Trustees’ expenses

There were no_ trustees’ expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

==> picture [455 x 94] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Te|STAFF|COSTS| |31.3.24|31.3:23| |£|£| |Wages|and|salaries|239,999|213,836| |Social|security|costs|12,366|9,583| |Other|pension|costs|14,027|13,999| |266,392|237,418|

----- End of picture text -----

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total remuneration and benefits received by key management personnel for services provided to the charity was £88,793 (2023: £122,914).

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

re STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
All employees 13 11
No employees received emoluments in excess of£60,000.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 270,760 65,245 336,005
Other trading activities 849 - 849
Investment income 2,776 - 2,776
Total 274,385 65,245 339,630
EXPENDITURE ON
Charitable activities
Subsistence and refreshments 762 - 762
Staff travel 336 - 336
Staff recruitment 834 - 834
Staff training 408 388 796
Volunteer training 1,100 - 1,100
Volunteer expenses 3/173 - 3,173
Volunteer other 363 - 363
Wages and salaries 181,373 56,045 237,418
Support costs - Offices costs 35,157 5,547 40,704
Support costs - Premises costs 29,207 - 29,207
Support costs - Legal and professional
fees 2,173 - 2,173
Support costs - Depreciation 1,703 - 1,703
Support costs - Other costs 1,047 - 1,047
Total 257,636 61,980 319,616
NET INCOME 16,749 3,265 20,014
RECONCILIATION OF FUNDS
Totalfundsbroughtforward 296,977 5,968 302,945

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

8. COMPARATIVES FORTHE STATEMENT OF FINANCIALACTIVITIES - FINANCIALACTIVITIES -
continued
Unrestricted Restricted Total
funds funds funds
_—f£ ~~£ _£
TOTAL FUNDS CARRIED FORWARD 313,726 9,233 322,959
9. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 April 2023 40,798
Additions 8,306
Disposals (12,944)
At 31 March 2024 36,160
DEPRECIATION
At 1 April 2023 35,691
Charge foryear 3,354
Eliminated on disposal (12,944)
At 31 March 2024 26,101
NET BOOK VALUE
At 31 March 2024 10,059
At 31 March 2023 5,107
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31:3:23
£ £
Prepaymentsandaccruedincome 15,159 300

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24 31.3.23
£ £
Trade creditors 3,822 -
Social security and other taxes 151 -
Accruals and deferred income 39,080 60,941
43,053 60,941
  1. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.24 31:3:23
e £
Within one year 16,706 20,048
Between one and five years - 16,706
16,706 36,754

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
£ E £ £
Fixed assets 10,059 - 10,059 5,107
Current assets 393,395 22,611 416,006 378,793
Current liabilities (43,053) - (43,053) (60,941)
360,401 22,611 383,012 322,959

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

  1. MOVEMENT IN FUNDS

==> picture [433 x 483] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Net|Transfers| |movement|between|At| |At|1.4.23|in|funds|funds|31.3.24| |£|£|%|£| |Unrestricted|funds| |General|fund|118,726|66,086|(19,411)|165,401| |Equipment|Reserve|20,000|-|-|20,000| |Contractual|Commitment|Reserve|55,000|-|-|55,000| |Development|Reserve|80,000|-|-|80,000| |Property|Reserve|40,000|-|-|40,000| |313,726|66,086|(19,411)|360,401| |Restricted|funds| |BIM|Project|-|(11,937)|11,937|-| |M|S|Society|-|(4,875)|4,875|-| |EAP|9,233|12,771|607|22,611| |React|.|(1,992)|1,992|-| |9,233|(6,033)|19,411|22,611| |TOTAL|FUNDS|322,959|60,053|-|383,012| |Net|movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|ai|£| |Unrestricted|funds| |General|fund|336,400|(270,314)|66,086| |Restricted|funds| |BIM|Project|3,500|(15,437)|(11,937)| |M|S|Society|1|(4,876)|(4,875)| |EAP|55,431|(42,660)|12,771| |React|17,500|(19,492)|(1,992)| |76,432|(82,465)|(6,033)| |TOTAL FUNDS|412,832|(352,779)|60,053|

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

==> picture [433 x 435] intentionally omitted <==

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Net|Transfers| |movement|between|At| |At|1.4.22|in|funds|funds|31.3.23| |£:|£|a|a| |Unrestricted|funds| |General|fund|171,977|16,749|(70,000)|118,726| |Equipment|Reserve|20,000|-|-|20,000| |Contractual|Commitment|Reserve|55,000|-|-|55,000| |Development|Reserve|10,000|-|70,000|80,000| |Property|Reserve|40,000|-|:|40,000| |296,977|16,749|-|313,726| |Restricted|funds| |EAP|5,968|3,265|-|9,233| |TOTAL|FUNDS|302,945|20,014|-|322,959| |Comparative|net|movement|in|funds,|included|in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|£|£| |Unrestricted|funds| |General|fund|274,385|(257,636)|16,749| |Restricted|funds| |BIM|Project|3,000|(3,000)|-| |M|S|Society|4,000|(4,000)|-| |EAP|38,245|(34,980)|3,265| |Rope|Trust|20,000|(20,000)|-| |65,245|(61,980)|3,265| |TOTAL FUNDS|339,630|(319,616)|20,014|

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued _ for the Year Ended 31 March 2024

  1. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

==> picture [434 x 507] intentionally omitted <==

----- Start of picture text -----
||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Net|Transfers| |movement|between|At| |At|1.4.22|in|funds|funds|31.3.24| |£;|£|£|£.| |Unrestricted|funds| |General|fund|171,977|82,835|(89,411)|165,401| |Equipment|Reserve|20,000|-|-|20,000| |Contractual|Commitment|Reserve|55,000|-|-|55,000| |Development|Reserve|10,000|-|70,000|80,000| |Property|Reserve|40,000|-|-|40,000| |296,977|82,835|(19,411)|360,401| |Restricted|funds| |BIM|Project|-|(11,937)|11,937|-| |M S|Society|-|(4,875)|4,875|-| |EAP|5,968|16,036|607|22,611| |React|-|(1,992)|1,992|-| |5,968|(2,768)|19,411|22,611| |TOTAL|FUNDS|302,945|80,067|-|383,012| |A|current|year|12|months|and|prior|year|12|months|combined|net|movement|in|funds,|included| |in|the|above|are|as|follows:| |Incoming|Resources|Movement| |resources|expended|in|funds| |£|E|£| |Unrestricted|funds| |General|fund|610,785|(527,950)|82,835| |Restricted|funds| |BIM|Project|6,500|(18,437)|(11,937)| |M|S|Society|4,001|(8,876)|(4,875)| |EAP|93,676|(77,640)|16,036| |Rope|Trust|20,000|(20,000)|-| |React|17,500|(19,492)|(1,992)| |141,677|(144,445)|(2,768)| |TOTAL FUNDS|752,462|(672,395)|80,067|

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A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Designated funds

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. MOVEMENT IN FUNDS - continued

Equipment Reserve - a reserve to ensure there is enough capital to upgrade or replace IT and communications as required and to replace office equipment when it becomes obsolete or beyond economic repair. Funds are also required from time-to-time to purchase new equipment for new projects. The Trustees consider a sum of £20,000 held in reserve will permit replacement of these items when they fail or require upgrading and the purchase of additional equipment. In 2023/24 £10,883 of unbudgeted additional IT and office equipment was purchased using this designated reserve. This has necessitated the movement of funds at year end to maintain this reserve at 20,000.

Contractual Commitment Reserve - a reserve to ensure that the charity can cover contracted payments to staff such as redundancy, provision of maternity, paternity and long-term sickness cover, payment of pension funds and the costs of any disciplinary and/or grievance procedures that may arise. This category of Reserve also covers the costs of curtailing on-going contracts (for instance IT and communications contracts) where necessary. The Trustees consider a sum of £55,000 to be applicable for this purpose.

Development Reserve - a reserve to allow the charity to undertake the development of new projects and areas of work and to conduct full feasibility studies on the advisability of such projects. The estimated costing of any proposed projects will be contained within the charity's strategic business and development plan and will be self-supporting once established. An initial project start-up reserve limit of £10,000 will be applicable. In 2023/24 to cover a shortfall in income there was £33,224 expenditure from this designated reserve for Supported Access Advice, a new project to improve accessibility to our services. This has necessitated the movement of funds at year end to maintain the reserve at £80,000.

In March 2023, the Trustees adopted a new resourcing strategy designed to improve accessibility, flexibility, quality and fundraising. It is recognised that this strategy involves investment in resources that should bring a pay-back in future years, but may require MSCAB to run a deficit for one or two years. To recognise this investment, the Trustees approved an extra designated reserve of £70,000 to cover a possible funding shortfall in the coming year.

Property Reserve - a reserve to cover the potential costs of a move to alternative premises. These costs would include legal fees; costs for moving the paperwork, furniture and equipment, installation of IT and telecoms equipment and adaptation of the premises to allow for the provision of a confidential advice service to required standards. Added to this is an amount for Dilapidations, i.e the replacement of carpets and re-decoration and general repairs to existing premises. The total Property Reserve has been set by Trustees at £40,000.

Restricted funds

Benefit & Income Maximisation ("BIM") Project - a community project aimed at ensuring full entitlement for appropriate benefits and grants for persons within Mid Suffolk.

MS Society Project - funding to provide advice to families affected by Multiple Sclerosis.

Energy Advice Project (EAP) - provides one to one advice on: getting the best price for your fuel; repaying fuel debts; energy efficiency measures such as loft and cavity wall insulation; and grants for fuel.

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Mid Suffolk Citizens Advice Bureau

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

React Project - The React fund was provided by Ipswich and District Citizens Advise Bureau and this was in relation to employing a support and advice coordination worker. The project ended early in September 2023 when the adviser resigned.

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

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Mid Suffolk Citizens Advice Bureau
Detailed Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24 31.3:23
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 34,938 32:277
Grants 370,057 303,728
404,995 336,005
Other trading activities
Other income 722 849
Investment income
Deposit account interest Palate: 2,776
Total incoming resources 412,832 339,630
EXPENDITURE
Charitable activities
Wages 239,999 213,836
Social security 12,366 9,583
Pensions 14,027 13,999
Other operating leases 23,897 23,151
Insurance 2,073 1,745
Light and heat 3,245 3,642
Telephone 2,236 1,990
Postage and stationery 1,639 2,545
Sundries 499 72
Subsistence and refreshments 729 762
Staff training 1,777 796
Volunteer training 560 1,100
Staff recruitment 833 834
Volunteer expenses 2,787 3,173
Volunteer other 632 363
Other office costs 32,800 30,983
Accountancy and consultancy 8,722 6,224
Legal fees 98 2,173
Staff travel 463 336
Computer equipment 3,353 1,703
PAYE interest charges 44 -
352,779 319,616

This page does not form part of the statutory financial statements

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Mid Suffolk Citizens Advice Bureau

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Total resources expended

Net income

31.3.24 31:3:23
E 2
352,779 319,616
60,053 20,014

This page does not form part of the statutory financial statements

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