Rutland Citizens Advice Bureau Report of the Directors and Trustees and Financial Statements for the year ended 31 March 2024 Registered Charity No. 1107907 Company No. 5287678 FCA Authorfsatlon No. 617720
Rutland Citizens Advice Bureau Report of the Dlrectors and Trustses and Financial Ststements for the year ended 31 March 2024 CONTENTS Report of the Directors and Trustees 1-10 Independent Examiners Report Statement of Financial Activities 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Account8 15-27
Rutland Cltlzens Advice Bureau Report of the Diractors and Trustees for the year ended 31 March 2024 The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the financial statements for the year ended 31 March 2024. 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: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for applicable in the UK and Republic of Ireland published in October 2019. The following paople were d1ctOrS/trUsteeS of the charity on the date of approval of the report.. DIRECTORSI TRUSTEES ROLE ELECTED BY DATE ELECTED Elizabeth Cooper Philip Grimley Michael Cropper Tim Devas Chair Members 1 Apr20 23Jan 15 Trustee MemberB Trustee Members 70ct19 Trustee Members 9Nov20 21 Nov 22 Hannah Williams Christopher Mortlock Susan Jarron Trustee Members Trustee Members 9May23 Members 9May23 The following people additionally Served as directorsltrustees during the year: Trustee EXIDIRECTORS ROLE TRUSTEES ELECTED DATE DATE BY ELECTED RESIGNED John Hawksfield Finance Trustee Jeanette Wamer Trustee Graeme Baines Trustee Trustees 11 May16 13Nov23 9May23 13Nov23 21 Nov 22 2 July 24 Co-opted Members In this report: The directors of the Charity are referred to as "trustees., Rutland Citizens Advice Bureau is rpferred to as "CAR. or "the Chariti, All trustees give their time freely and no trustee received remuneration in the year. Details of any trustee expenses are disclosed in note 9.
Rutland Citizens Advice Bureau Report of the Directors and Trustees for the year ended 31 March 2024 OBJECTIVES AND ACTivrriES Charitable purpose Thp. niimtxqe nf Ihe charitv is to promote anv charitable DufDose for the benefit of the community in Rutland and surrounding areas. by the advancement of education, the protection and preservation of health and relief of poverty, sickness and distress. Fundamental to achieving its charitable aims, the Charity has an underlying goal of raising funds to enable it to provide the services which it is established to deliver. CAR aims to fulfil its purpose through its objectives. The core aims of the Charity set CAR'S strategic objectives. CAR aims to provide free. confidential, impartial and independent advice and infonmation for the benefit of the local community, to exercise a responsible influence on the development of soGial policies and services and to ensure individuals do not suffer due to a lack of knowledge or an inability to express their needs effectively. Strategic objectives during the period of the report included: To maintain and grow the core advice function and to deliver a service that assists the population of Rutland. To work to increase awareness of, and improve access to the Charity and to provide serrfices in support of the voluntary sector in Rutland To support and develop the voluntary sector in Rutland to SUPPOrt and help coordinate the activities of other charities. This enables CAR to broaden considerably its ability to fulfil the purposes of advancement of education. the protection and preseNation of health and relief of poverty, sickness and distress beyond the delivery of core advi services. To work to highlight those policy, delivery and seNice issues that are. or have potential to impact negatively on the quality of life of Rutland residents To maintain membership of the Citizens Advice Network Activitles The Trustses have paid due regard to the Charity Commission's guidance on public benefit in deciding the activib.es undertaken by the organisation and are satisfied that the infonnation provided in the report and accounts meets the public benefit reporting requirements During the past financial year, the organisation has continued to deliver both traditional advice 88rvices and services in support of the voluntsry sector.
Rutland Citizens Advice Bureau Report of the Directors and Trustees for the year ended 31 March 2024 Advice services.. In addition to generalist advice the folloIng specialist services were provided during the year. Debt Welfare Rights Housing Prevention of Homelessness Additionally specialised advice was also provided: To people with long term medical conditions CAR exceeded delivery targets for numbers of dients advised, and sustained quality standards throughout the year. As a result of the cost-of-living crisis the organisation has never been busier in tenns of case load or numbers of clients seeking advice in CAR'S 50 year history. CAR continued to provide advice for people with long term health conditions in the county. This work is supported by fvndraising activity undertaken by CAR'S fundraising arm - For Rutland. Campalgns CAR continues to play an active role in working to improve the policies and practices that affect peoples, lives. During this period CAR published a campaign on the cost of living Crisis in Rutland htt s.Ilcitizensadvicerutlané.or -contenUu loads1202311 0 he- Cost-of-Livin -Crisis-in-Rutland-Re 0rt-2023.Dd4LThis port gamered a considerable amount of interest and media attention both within Rutland and Nationally. Collaboration rfer the past 12 months CAR has improved its partnership wort(ing and collaboration with parther agencies. This has induded inft)rnation sharing, development of and participation in events and regular meetings for the Charity and voluntary sector to attend. The plan is to work together to promote synergy and effective use of team efforts, improve footfall and minimise duplication of resources. Voluntary and Communty Sector CAR has increased its offering to Voluntary and Community Sector (VCS) in Rutland. Over the past 12 months CAR have continued with the delivery of a series of activities and inrtiatives in support of the VCS including: promoting and increasing the supply of volunteers to multiple VCS groups in Rutland;
Rutland Citizens Advice Bureau Report of the Directors and Trustees for the year ended 31 March 2024 delivering social media engagement training. promoting funding opportunities. developing space at the CAR offices as a community hub available for voluntary nrni Lno tn Ji sa for mp.p.tingR 9nd nthpr nijmnqp_s. increasing collaboration and cooperation amongst VCS partners through the development of a shared calendar of community events and establishment of and attendance at a variety of community events. Mapplng and strategy In addition, CAR has completed the first phase of the Rutland specific mapping and strategy exercise that involved the conduct of a comprehensive survey of the VCS in Rutland (htt :Ilvoluntee lusrutland.or .u contenuu loads120231071Surve Re ort Short. d and a Rutland based strategy {htt s.'Ilvolunteer lusrutland.or .ukl rtslrutland-volunta -and-communit -sector- strate -2024-2028 Fundralsing Activltles CAR'S funds comprise of a) unrestricted income funds which can be used in furtherance of the charitable objects at the trustees, discretion and b) restricted income funds which can only be used for particular restricted projects or purposes within the objects of the Charity. Restrictions arise when specrfied by the funder or when funds a raised for particular restricted projects or purposes. Expenditure which meets the restricted criteria is charged to that fund, together with a fair allocation of CAR support and administrative costs. April 2024 will be the start of the final year of a &year grant with RCC for the provision of core advice services within Rutland. In additK)n, CAR will receive a 9-month extension for the Charity's work helping the voluntary sector in Rutland as well as a number of small grants and contracts to conduct specific projects. Overall. CAR is dependent on a small number of fund sources to support the majority of our work. In this context, the trustees have determined that the CAR strategy needs to a) focus on agility and surviv81 of the organization. b) being able to respond rapidly to the changing politicaveconomic environment in Rutland, whilst c) continuing to widen our donor base and look for new sources of income. CAR fundraising volunteers continued operating under the brand of For Rutland, organising significant fundraising events including the Bottle Tombola at the Rutland County Show in June 2023 and the Good & New Sale in March 2024. During the reporting period CAR conducted a direct mail appeal for financial support to Parish and local Councils in Rutland.
Rutland Citizens Advice Bureau Report of the Directors and Trustses for the year ended 31 March 2024 ACHIEVEMENTS AND PEFORMANCE During 2023124 the top three categories of advice remained Welfare Rights, Housing and Debt. We saw 3,021 unique clients during the year and assisted with 13,833 presenting issues. Presenting issues break down as follows: Welfare rights- 7,777 Debt- 1,600 Housing - 1,583 Other- 2.873 The financial gain for clients in 2023124 was £1.509,831. A further gain of £945,691 was reported from our focused advice work for clients with long tem health issues. 100¥0 of clients who responded to survey questions are either satisfied or very satisfied viith our service. CAR continued to welcome clients from acn)ss the county. over the last 12 months 39 /0 of clients came from wards and parishes outside Oakham and Uppingham. 62¥0 of our clients were women and 38% men. Clients under pension age made up 63 % of those seen and those over pension age 370k. Investment Activltle8 The Charity does not currently hold any material investments, although it does make deposits into the Flagstone cash deposit platform to distribute its reserves, both unrestrictsd and restricted, acn)ss multiple short tenn savings accounts. This approach maximises interest eamings while ensuring the security of the fiJnd8. Current savings are considered alongside our reserves policy. Factorn Affecting the Achlevement of Objectlves Financial risk: this is addressed under the Financial Review, The health and social care landscape is charKJing, as are the requirements of Rutland County Council; Access to the services provided by clients and potential dients; Recruitment of employees and volunteers.
Rutland Citizens Advice Bureau Report of the Directors and Trustses for the year ended 31 March 2024 FINANCIAL REVIEW Financial Position 11 lJVI i li i¥ iTS=urceo +ha iitsar Q4AA A4R l?n??n?. PARA ?Rl ! n! thio P?R? ?27 I Iv y (2022123: £259,075) related to restricted project activities by 'For Rutland., Rutiand Development of a Voluntary and Community Sector Strategy for Rutland, Trussell Trust and Rutland Food Bank, Citizens Advice Sub-Grant. and Advice Donation. There was a net income of £41,647 for the year (2022123.. net income £64,755). Unrestricted funds saw a net income of £42,187 . which was offset by the small loss in the restrÈcted accounts resulting in an overall net income. The Board have designated £30.000 of unrestricted reserves as the Jeff Ward Fund. For Rutland fundraising events resulting in a net expenditure of £6,364 (2022123 net income £5,788). The balancing gains of incomelexpenditure in all other restricted accounts are set out in note 14 to the accounts. Transfers between funds represent exGess expenditure in restricted accounts met by general reserves. At 31 March 2024 total reserves were £376,990, an increase from the 2023 figure of £335,343, the overall increase being a result of the movement in unrestricted and restricted reseNes as already mentioned. The National Citizens Advice financial health monitoring report noted financial health in areas of liquidity and free reseNes at the end of the financial year March 2024, rating them as minimal risk, Reserves Pollcy The trustees establish a Reserves Policy to ensure that the bureau's core activilies can continue during unforeseen difficulties. In April 2024, the reserve amount was increased to reflect updates in the redundancy calculator spreadsheet, changes in staffing stnjcture and costs, and the recent staff pay rise implemented at the beginning of the financial year. In response to these changes, the trustees reassessed the Charitys free reserve requirements, considering the primary risks to the organisation. They identified the main risks to both income and expenditure and calculated the potential financial impact of adverse changes. The identrfied free resenRs would allow for short-term drawdowns, providing time for mitigation actions and adjustments to new financial circuMstans. Additsonally, CAR has updated its risk analysis pr(r£dures, foming a working group that meets quarterfy and reports back to the Board at each meeting with a review of the risk register. Flnanclal Rlsk The key areas of risk are: The1088 of a major funding source including the non-renewal of a funding contract or reduction in scope of funding provided,
Rutland Citizens Advice Bureau Report of the Dlrectors and Trustees for the year ended 31 March 2024 The inability to reduce costs pro rata to any reduction in fvnding without putting the core service at risk. Increased redundancy obligations as a Consequen of lack of staff tumover, Any unexpected expenditure, especially related to employment, and An increase in working capital required ff funding is not reGeived in advance. The cuffent advi grant received from Rutland County Council runs for 3 years to March 2025. on an annually reducing basis. requiring a COespOndIng increase in fundraising year on year. CAR has transitioned to a more mixed fundraising model, consisting of a core grant and additional income provided via bids for tenders and grant applications to a number of charitable foundations. In light of these factors the target for reser4es has been set at £115,000 (31 March 2023: £115,OCKI). Total free reserves at 31 March 2024 as set out in these accounts (exduding designated reserves) are £152,234. The reasons for holding these designated reseNes and any restricted reserves are set out in notes 15. The Reserves Policy will be reviewed annually in tandem with the bureau's strategy and risk assessment processes. Principal Funding Sources Rutland County Council will continue to be the primary source of funding to the end of the current agreement, viith additional funding coming from individuals and private foundations as well as funding via National Citizens Advi, and the 'For Rutland, fundraising team. The charity did not have any borrowings trom either providers of funding or other sources at the balan sheet date. Funds in Deficit No funds were in deficit at the balance sheet date. Investment Policy The Charity has the power to invest monies as set out in its Articles of Association. Plans for future periods The trustees review plans for the future regularly at Board meetings and at an annual strategy review meeting. Its core aims and objectives remain as set out. Current plans include: Continued delivery of Citizens Advice serrfices in Rutland including consideration of approaches to enhance support. reach and accessibility. seeking additional funding to expand the advice team to meet the rising levels of demand for services. Recruit and train more specialists advisors
Rutland Citizens Advice Bureau Report of the Directo and Trustees forthe year ended 31 March 2024 Further diversify our donor base and to seek new funding model to support the core advice work in tandem with our voluntary sector offering. Improved communications within Rutland as well as advertising services to potential and current users. Grow the voluntary sector hub, enhance the Volunteer Plus website offering and increase the voluntary sector support activities. Build upon the work of the voluntary sector mapping, strategy development and directory of VCS groups, to become the primary resource for the voluntary sector in Rutland. Collaborate with Rutland County Council to produce a voluntary sector strategy for Rutland. Undertake fundraising and business development activity in line with agreed strategy and to sustain and develop advice services, and to consider new activity or approaches in response to need. Structure, governance and management Governing Document Rutland Citizens Advice Bureau is a registered charity and a company li mited by guarantee known as Citizens Advice Rutland. The maximum liability of each member is limited to ten pounds. Rutland Citizens Advice Bureau is govemed by its Articles of Association as amended in 2023. The Articles of Association provide ft)r a maximum number of trustees of 15 and the minimum shall be 4. At 31 March 2024 the company had 18 members, 8 of which were Trustees. Recrultmenl Appointment of Trustees Trustees are appointsd in accordance with the Articles of Association. Trustees are recruited from those who have demonstrable interest in and commitment to the local community and the aims and objectives of the Charity. They will be required to demonstrate (or gain) the skills and experience identified as necessary to fulfil the roles. The Board of Trustees (the Board) and the Chief Executive Officer (CEO) oversee the recruitmenVco-OPtion of new board appointments. New trustees are required to undertake an application and interview process. A separate process agreed by the Board is followed forthe election of the Chair. No other person or bodies extemal to the Charitywere entitled to appoint persons to the Trustee Board.
Rutland Citizens Advice Bureau Report of the Directora and Trustees for the year ended 31 March 2024 Organlsational Structure Rutland Citizens Advi Bureau is governed by a Board of Trustees which is responsible for setting the strategic direction of the organisation and the policy of the Charity. The trustees carry the ultimate responsibility for the conduct of the Charity and for ensuring that it satisfies its legal and contractual obligations. Trustees meet, at a minimum. quarterly and delegate the day-to-day operation of the organisation to senior management. The Trustee Board is independent from management N8Y appointed trustees are provided with a comprehensive induction to CAR through the provision of training courses and mentoring by established trustees. Training continues throughout any trustee's appointment. Arrangements for settlng pay and remuneration of key management personnel The Board of Trustees is responsible for defining the pay policy, including deciding upon the salaries of the CEO and the Chief Operating Officer. In considering remuneration the Trustees will take aCcnt of relevant information including". information received from the Citizen8 Advice national network", market information; the Charity's financial position" public sector pay awards Citizens Athiice Network Rutland Citizens Advice Bureau is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Tnjstee Board of Rutland Citizens Advice Bureau in order to fulfil its charitable objectives and comply with the national membership requirements. Related partles The Charity co-operates and liaises with a number of other advisory service, local charities and Local Authority departments on behalf of clients.
Rutland Cltlzens Advice Bureau Report of the Dlrectors and Trustees for the year ended 31 March 2024 Reference and adminlstratlve details Charity Name: Rutland Citizens Advice Bureau Chaiity Registration No: 1107907 Company Registration No: 5287678 Finance Conduct Authority Authorisation No: 617720 Registered Office: 56 High Stree( Oakham, Rutland. LE15 6AL Chair. Elizabeth Cooper Chief Executive orricer: Duncan Furey Chief Operating Officer: Sheila Fletcher Bankers (for the period of the report): CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent. ME19 4JQ Independent Examiner.. N2ets Audit Services, Thorpe House, 93 Headlands, Kettering, Northants. NN15 6BL This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and reporting by Charities and in accordan with the provisions applicable to companies subject to the small companies, regime. The report of the trustees was appruved by order ofthe board of trustees, as the company directors, n 26 September 2024 and signed on the board's behalf by.. Elizabeth Chair of Tr oper stees 10
Rutland Citizens Advlce Bureau Independent Examiner's report to the Trustees of Rutland Citizens Advice Bureau I report to the charity trustees on my examination of the accounts of the company for the year ended 31 hAarch 2024, whlch are set out on pages 12 to 27. Responslbllttles and basis of report As the chaiity trustees of the company (and also its directors for the pUoseS 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 20Q Act and are eligible for independent exarnination. I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 (Ihe 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 examlnerfs statement Since the company's gross income exceeded £250.000 your examiner must be a member of body listed in section 145 of the 2011 Acl. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection wlth the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by sectlon 386 of the 20C6 Act", or 2. the accounts do not acco with those records. or 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 'tru8 and fair view, which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accor(lance wth the methods and piinciples 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 concems and have come across no other matters in conneclion with the examination to which attention should be drawn in this report in order to enable a proper understanding of the acc nts to be reached. Richard Monkhouse FCCA Association of Chartered Certified Accountants Thorpe House 93 Headlands Kettering Northamptonshire NN15 6BL Date: .. 11
Rutland Citizen8 Advlce Bureau ststement of flnancial activitie8 for the year ended 31 March 2024 Incorporating the Income and Expenditure Account Unr•strlcted Restri¢tsJ Total funds funds funds 2024 Totsl funds 2023 Income and •ndowments from: Donations and legacies 35,401 39,546 74,947 81,S26 hari+*hlA grtiviti•rA Grants and contracts Other (including fundraising) Investment income 175,tL)o 5,W7 7.211 142.080 78,787 1,814 317,080 83,794 9.025 304,142 75.370 3,123 Total Income 222.619 262.227 484,846 464,261 Expenditurn on: Raising funds Charitable aGtivities Advice provislon Grants allocated Service provision Other 8,953 39.007 47, 68.429 141,590 196,991 338,581 271,937 9.500 29,889 26,769 58,658 49,640 T•)tsl Expondituro 180,432 262,767 443,199 399.5C6 Net Incom{8xpend1turft) and nd movemgnt in funds 42.187 {540) 41,647 64.755 Transfers between Fund8 (9,203) 9,203 Fund balances at 1 April 2023 14 151,568 183,775 335,343 270.588 Fund balances at 31 March 2024 14 184,552 192,438 376,990 335,343 There are no recognised gains or losses in the year, other than those induded in the statement of financial activities. All income and expenditure derives from continuing operations. 12
Rutland Cltlzens Advlce Bureau Balance Sheet as at 31 March 2024 Unr•strioted R•strl¢t•d Funds Funds Total 2024 Total Note Tangible Assets 10 Currnnt Ass•ts Stock DebtOTS Short twm deposits Cash at bank and in hand 12 15.990 80,074 122 596 198.660 18.682 204,575 176 372 2.889 120.227 234 110 358, 132 144.$01 53.776 201.725 Creditors - amounts falling du8 withln one year 13 19.491 25,713 29,939 t Current Assots 182.234 374.672 328 193 184,552 192 438 378.99) R8prèsented by: Funds of th• Charlty Lthrestricted funds General fLmds Designated funds 14 154,552 30.000 154.552 30.0 151.568 Restricted FurKIs 192,438 192.438 1.775 184 552 192 438 376 99) For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 20[ relats.ng to small companie8. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the Fxovisions applicable to companies subject to the small companies, regime. The financial statements were approved by the Board on 26th September 2024 and signed on their be al by: Eliz er- Chair of Trustees Chris Mortlock- Finan e Trustee Conlpany Regi Chartty Regis tration No: ion No: 5287678 1107907 13
Rutland Cltlzens Advice Bureau Statsment of Cash Flow5 for year ended 31 March 2024 Total 2024 T¢>tal 2023 Cash flo from operating aotivitios Net Incorr{eXpenditUre) Adjustments for: 41,647 64,755 Depreciation Interest incoff Decreasel (Increase) in stock (l Krease)IDecrease in debtors (Decrease)lincrease in creditors cash promded byl(Ltsed in) OFerating actiirities 4,832 (9,025) 150 (15,793) 4,830 (3,123) (373) 5,007 167 71,263 Cash flows from investing aollvltles Purchase of computer equiprrnn* Interest receivable Net cash (used in)Iprovided by investing activities 9,025 9,025 Change in cash and oash equivalents in the reporting period 26,610 74,386 Cash and cash equivalents at 1 April 2023 354,337 279,951 Cash and eAsh equivalents at 31 March 2024 380,947 Components of cash and oash •quivalents sIrt term deposits Cash at bank and at hand 204,575 176,372 380 947 120,227 234,110 354,337 14
Rutland Clllzens Advice Bureau Notes to the flnanclal Statements for the year ended 31 March 2024 Accounting pollcle8 The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statsments are as follows: Basis of preparation The financial ststements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Rec(xnmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the UK and Ireland (FRS 102), the Charities Act 2011, the Companies Act 20CE and Generally Accepted Accounting Practice. Rutland Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at hislorical cost or transaction value unless otheiSe stated in the relevant accounting policy note(s). The financial statements are prepared in Sterfing, which is the functional currency of the company, and are rounded to the nearest £. The cornpanls accounts present information about it as an individual undertaking. b) Legal status of the Charlty The charity is a private company limited by guarantse and has no share capitsl. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The registered Offi address is 56 High Street, Oakham, Rutland, LE15 6AL. Golng concern At the time of approving the financial statemerrts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the trnstees continue to adopt the going concem basis of accounting in preparing the financial statements. d) Judgements and key sources of estimation uncertainty In applying the charitys accounting policies. the tnjstees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities. Although actual resutts may differ from estimates of this type, in the opinion of the trustees, this is unlikely to result in material adjustments to the carying value of assets and liabilities. 15
Rutland Cluzens Advlce Bureau Notes to the financlal statements for the year ended 31 March 2024 Accounting polkles (contlnuod) Incoming resources J) Donations and grants receivable Grants made to finance the activities of the charity are credited to the income and expenditure account in the period to which they late. Incorne from donats.ons or grants is recognised wnen there Is eMttence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Bank Interest Bank interest is irlUded in the income and expendrture account on receipt. 111) Other income Sales of ServIS are included in the income and expenditure account in the period to which they relate. Other income, including donations, gifts and covenants are included as they were received. Iv) Volunteers The value of services provided by volunteers is not incorporated into these financial statements. Further details of their contiibution are provided in the Trustees, reporL Deferred Income Grants and fees that are received in advance of delNering Services required by perfonnance-related conditions are accounted for as a liability and released to income in the reporting period in vA)ich conditions that limit recognition are met. vl) Legacies Legacies are recognised on the earfier of the date the charity is aware that probate has been granted, the estate has been finalised and the charity notified that a distribution will be made, or when a distribution is received from the estate. Legacies are only recognised in the Statement of Financial Activities when it is considered probable that a distribution will be received and that distribution can be measured reliably. When the criteria for income recognition have not been met. the legacy is treated as a contingent asset. Resources expended All expenditure is accounted ft)r on an accruals basis. All expenditure directly related to the provision of advice services is induded within charltable expenditure. Other costs incurred have been allocated belween fundraising, advice and administration as appropriate. Where such costs 16
Rutland Cttlzens Advice Bureau Notes to the financlal statements for the year ended 31 March 2024 Accountlng pollcles (condnued) relate to more than one functional cost category they have been split on an estimate of time or income, as appropriate. g) Fixed assets and depreciatlon Fixed assets are included at cost. Items are capitalised rf their value is over £1000 (2023: £500). Depreciation is charged on a straight line basis on the costs of the assets over their estimated useful lives as follows: Fixtures & fittings: Remaining period of lease: maximum 6 years 10 years 3 years Equipment: Computers: h) Stocks Stock is recognised at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, those overheads that have been incurred in bringing stock to its present location and condition. Debtors Trade and other debtors are measured at the transaction price (induding transaction costs). Where tho arrangement constitutes a financing transaction, the transaction is recognised at the pres8nt value of the future cashfiows discounted at a market rate of interest. J) Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other highly-liquid short-tenn investments with a short maturity of 3 months or less. k) Creditors Creditors are recognised where the charity has a present obligation resutting from a past event that will probably result in the transfer of funds to a third party and the amount can be measured or estimated reliably. Trade and other creditors are measured at the transaction price. Where the arrangement constitutes a financing transaction, the transaction is recognised at the present value of the future cashfiows discounted at a market rate of interest. 17
Rutland Citizens Advice Bureau Nots8 to the flnancial statewonts forthe year ended 31 March 2024 Accountlng pollcles (contlnuedl i) Fund accounting Unrestricted funds are donations and other income generated for the objects of the charity without specffied purposes. These can be used in accDrdance with the charitable objects at the discretion of the trustees. Income received for the restricted purposes is included in a separate restricted fvnd against which appropriate expenditu is allocated. Designated funds are allocated out of unrestricted funds by the trustees for specific purposes. The use of such funds is at the trustees, discretion. m) Lease3 Rental costs under operating leases are tharged to the statement of financial activities in equal amounts over the period of the leases. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Pension The charity operates a defined contribution group personal pension plan for its employees. Payments are tharged to the Statement of Financial Activities in the period in which they are incuffed. p) VAT The charity has been able to recover VAT in accordan with the agreed partial exemption method. 18
Rutland Citizens Advlce Bureau Notes to the financial statsments for the year ended 31 March 2024 2 Donations and l•ga¢i•s Unrestrlotod Rastrlot•d Voluntary Inco Donatior Legacies 5,401 30.OCM) 35,401 44,947 81,628 74,947 81,S26 The in¢onE fmm donations and lega¢ies vms £74,947 {3J23: £81,628) of vthich £35,401.Ms unrestricted 12Q23: £2,616). £30,000 has been designatsd as the Jeff Ward Fund. £39,548 restricted {202&" £79,010). 3 Incom• from Charitabl• A¢tiviti•s Unr•strlrt R•strlrt•d 2024 Local Authority COntrts Local Authority grants Cther grants and Contracts her paid athlsory seNtC8S Fun(traising evBrts Nalional InSurar8 rebate 5,000 170.000 70,499 75,499 19J,D)O 51,581 79.642 199,) 51,581 78,787 78,787 70.370 180 007 220 7 40) 874 379 512 The incotte from clAri+Abte actie$ was £4fXi,874 {2023.. £379,512) of thich £180.CK)7 VAS unrestricted {2023: £200.0001 and £220.867 restricted {2023." £179,512). 4 Inv•stm•nt incomo Unr•strhJted Restrkted Bank Inkrest receiNed 3123 The incorre from in*thnts VAS £9.025 (2023: £3.123) of ththich £7,211 unrestricled (2023.. £2.570) and £1.814 restricted (2Lr23: £533). 19
Rutland Citlzens Advice Bureau Notes to the flnanclal staterrftnts for the year ended 31 March 2024 othor dlreGt Dlrect support 2024 2023 Cost of ralslng funds Cther fundraising 21.657 1677 3,626 47,960 68,429 Charltable P4Jtlvltl•s AdM¢e promsion Partner funding ¢>ants alocated ant $er¥ice provision 279,206 12.634 46.741 338,581 271,937 9.5C 37,648 338511 1Z707 49,640 399 51 56 670 443 199 Total expenditure £443.199 12023.. £399.506) of lch £180,432 12023: £211,454) Me$ unrestricted and £2Q,76712023: £188.052) restricted. 6 Charitabl• aotiviti•s 2024 2023 316,854 266.052 sUCOntraCtors VCF costs CitA InnoliOn costs VCF Mapping Ruuand Healbly Grarrts ScherrE costs Cther (>ants er direct costs Allocated supwrt and govemance costs (ncts 7) 3,$08 9,126 12,707 4.547 5.984 53.044 331.077 E>penditure on Charitab aclivities £395,239 {21Y23: £331.077) of thich £171.479 VAS unrestricted (2023.. £178,942) and £223,760 restrioted (2(r23'. £152.135). 7 Analysis of support and qov•rnanoa oosts 8upport Gov•rnanc• 2024 2023 Managernnt co orrice, IT and cornrAJnications Prenises costs Legal and professional fees Independent e>zrrination gep¥ices costs 5,795 17.712 22.768 5.557 4.3 275 4,504 16.982 20.463 6.166 2.361 17.712 2a768 5,557 4,563 275 10.401 46.269 Analysed btheen Cost of raising fund8 Chariiablo a¢ti¥*1ti88 2,960 6,723 44,909 51,V32 53.044 56.670 20
Rutland Cltlzens Advlco Bureau Notes to the financlal statements for the year ended 31 March 2024 8 Net incomol(expendlture) for the year 2024 2023 This is stated after charging.. Depretiation Operating costs of le8se4 wop8rbes & machines Independent Examiner& remuneration Independent examination other serrfices 4,8>2 10,516 4,830 16,333 4,563 1,678 2,361 1,326 9 Infonnation regarding Trustsos and Employees 2024 Wages and salaries Soci81 security costs Pension costs 3(M).205 25.gJ3 12.403 338,511 271,216 23,819 10,848 305,883 The aveiage numt*r of emrAoyees was.. 2024 No 13 2023 13 The average nUMr of emF4oyees, on a fulltime equlvalenl, analys8d by function Mgs.. 2024 No 2023 Chaiit8bEe wrp)ses Fundraising & publicity MarRgement and admiristration of charlty No employee received emoluments in excess of £60,OJO. There was no trustees, remuneration or other benefits for the year ended 31 March 2024 or 31 March 2023. No trustees received tenefits under any Fension scheme. No travel o)sts were paid to members of the Trustee Board in the year (2023: £nill. Total remuneration paid to key management personnel in the year was £95,20112023.' £88,088). The bureau paid £3,381 in the year ended 31 March 2024 {2023: £3.4181 for various Insuran services, including professional indemnity cover. 21
Rutland Citizen8 Advlce Bureau Notes to the flnanclal stateffnts for the year ended 31 March 2024 10 Tanglble assets rIUTes, fittings and equipment Computer Equipment Total Cost i I M&II li £V£i 0,836 Additions At 31 March 2024 13,689 19,636 Depreciation At 1 April 2023 Charge for year At 31 March 2024 3,573 1,982 5.555 8,913 2,850 11,763 12,486 4,832 17,318 Net Book Value At 31 March 2024 392 1.926 2,318 Al 31 March 2023 2,374 4,778 7,150 11 Stocks 2024 2023 Stamp stock 756 22
Rutland Cltlzens Advice Bureau Notes to the financlal statements for the year ended 31 March 2024 12 Debtors 2024 2023 Value A(kloJ Tax Ckner Debtors 12,5C#J 3,1CK) 213 18,6&2 13 Credltors - amounts falllng due withln one year Trade cr8JitOTS Cther cr&Jitors A¢cruals Taxaion and social security Vae Tax Deferral I ncon Grani8 depos in athnce 2024 2023 3,177 8,441 6.148 4,013 1,730 25,713 29.939 Mov•mgnt on d•f•rr•d in¢om• aoeount Deferred Inco broht forward deferred in the year AnUnt rek8ased in the year AnK)unt relewl from previous ye DefeThed incorre carried forvKrd 4,429 (4,429) 1,730 (480) 4,429 Income of £1,730 was deferred as it related to income received for SeiceS ttst had not en prO)dj by 31 March 2024 Trussell Trust. 23
Rutland Cltlzens Advice Bureau Notes to the flnancial statements for the year ended 31 March 2024 14 Pkn•rnnt li funds Year eThkd 31 htsrch 2024 1 Iprll Inoonlng Qutyoinq Tmsf•rs R•sauTthS RKoure•s b•tsw•n nds It 31 fvlar¢h Rest F8. For Rutknd CF NCF Trwel Tnt1 CtrA kn[¥)1 110,147 (116,511) ,T20} 13,535 3,251 7,815 is 261 24,GY) C33,) (14, 7,010 10.104 10.C(AI pwi (2,3)1) (10, 262,227 (262.76n 7.1S8 17, RCC AW CNCost of Lmr Total RestllLed Fth)Js 10, 183,775 192, Fu)Js Gwal tur Jeff Ward FuTrJ Totrdl Unrestrthd FuThJs 151 192,619 {1W,Q) 154 151, I1.432) T203) Total FuThJs 441 376) tr8nskntO lmreslri furds presertIrnfets thls Of£9M1£2,5l4) tofirortt defficts on r&t f5 ardfroM reSIt to wtestrrted Year erKlgJ 31 Pknh 2023 IrKofiinq R•sourc•s Outyoing Transf• R•souTCèS bet%i••n nds 31 MAMh Re5tithd Furjjs: For Rthrnl 110 1Q3.933 (104,1 (46, (11,1) (1214) 195))) 116,026 13,S35 3251 CF Wpir 14,642 10W) 2,514 PIAliThJ safe POve Dorth'¢ CitACostof LWM Trlal tiLled Furvjs 11ixri ,075 (4,03T) (188,C621 lo3 183,715 11orJ3 2,514 LIVeicted Ft 11,W) (2,514 ,1 151 T(rtal 27D,588 464,281 %,343 Nettransknto uweslrict&l furmls preSerttrdf5 fiuth of£2514 to finarr* deftts on restrrtèj furth. 24
Rutland Citizens Advice Bureau Notes to tho flnanclal ststernnts for the year ended 31 March 2024 16. Purpose of Restricted funds For Rutland - This fund was set up to raise funds specifically to benefit the Rutland community. The focus is on the provision of serrfices for those living with cancer, dementia or other long term illnesses or conditions. VCF - Provision of Voluntary and Community Sector Infrastructure Support in Rutland funded by Rutland County Council VCF Mapplng - Contract with Rutland County Council to develop a Voluntary and Community Sector Strategy for Rutland in future years. The first phase was completed this year with likely second phase to follow in 202415 Trussell TrusUFood Bank - Grants given by Trussell Trust and Rutland Food Bank to provide high quality advice on income maximisation to those accessing the food support, who are identified as being at risk of destitution. Advice Donatlon - A donation made to fund general advice provision over the coming years as funding from other sources declines. Cit A Cost of Llvlng - A sub grant from National Citizens Advi to enable an increase in direct service delivery capacity to help clients through the cost of living crisi8. CitA Innovatlon - A grant from National Citizens Advice to improve CAR'S seNice delivery within small rural communities. Deprivation Advlce Donation - a donation made by an individual towards the costs of providing advice to those attending the Rutland Foodbank RCC AVM - A grant from Rutland County Council to help fund the provision of a Mental Health Prevention and Resilience project in Rutland. This was put on hold during the year and will recommence in 202415 Designated Funds: Jeff Ward Fund- for adviser salaries and gaps in existing funding 25
Rutland Citizens Advice Bureau Notes to the financial statements for the year ended 31 March 2024 16. Analysis of net assets between funds Comparative infomiation for the year ended 31 March 2023 Unrestricted Funds Restricted Funds Total 2023 Fid assets stock Debtors Short tenn deposits Cash at bank and in hand Creditors due within one year 7,150 906 2,489 80,227 78,050 17,254) 151,568 7,150 906 2,889 120,227 234,110 29,939 335,343 400 40,000 156,060 12,685 183,775 17. Financlal commltments Capital Commltsnents At 31 March 2024 there were no capital commitments. Opernting lease commitments At 31 March 2024 the charity had outstsnding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years Later than 5 years 10,435 17,361 10,394 27,895 27,796 38,289 26
Rutland Cltlzens Advice Bureau Nots8 to the financial statements for the year ended 31 March 2024 19. Related party transactlons Rutland Citizens Advice Bureau is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux. which provides a framework for standards of advice and casework fflanagement as well as monrtoring progress against these standards. Operating policies are independently detennined by the Trustee Board of Rutland Citizens Advi Bureau in order to fulfil its charitable objectives and comply with the national membership quIrements. There were transactions between Rutland Citizens Advice Bureau and Citizens Advice in relation to insurance, information seNices and, as explained in note 15, grant funding. There have beén no other related party tran8actions during the year. 20. Pension costs A pension scheme for employees is operated on a defined contributions basis. The scheme is open to all employees at any time. The charity contributes 4% of pensionable eamings and the employee a minimum ¥0 of gross salary to meet statutory requirements. The assets of the scheme are held separately from those of the charity in an independently administered fund. The fund administrators are Aviva. The pension cost shown in the accounts for the year repsents contributions payable by the charity and amounted to £12,403 (2023: £10,848). There were contributions of £1,929.51 payable or outstanding at the year end. 27