Registered company number - 05316853 Registered charity number - 1108967
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
CONTENTS
| Pages | |
|---|---|
| Report of the trustees | 1 - 4 |
| Independent Examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the accounts | 8 - 15 |
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 1
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees have pleasure in presenting their report and the unaudited financial statements for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006 relating to small companies, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
REFERENCE AND ADMINISTRATIVE DETAILS
Charity name
Dover, Deal & District Citizens Advice Bureau (a company limited by guarantee)
Company number Charity number 5316853 1108967 Registered office Maison Dieu Gardens Dover Kent CT16 1TG
Chief executive and Company Secretary Jan Stewart
Trustees/Directors Gillian Plummer David Pestell Donnie Farago Pauline Goldsack Guy Banyard Jillian Harrison (resigned 24.1.24) Nathanael Theisen Daniel Friend
Council representatives Cllr H Williams
Bankers
Lloyds Bank Plc 43-45 Sandgate Road Folkestone Kent CT20 1RZ
Independent examiner
Mr S J Wren FCCA Accountancy Matters (Kent) Limited The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 2
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Dover, Deal & District Citizens Advice Bureau (DDCAB) is a registered charity and a company limited by guarantee. The company has 12 members whose liability is limited to £1 each. The bureau is governed by its Memorandum and Articles of Association. DDCAB was incorporated on 20 December 2004, to take over the assets, liabilities and operations of Dover Citizens Advice Bureau and Deal & District Citizens Advice Bureau. The bureaux had operated as one organisation since April 2004 and the bureau took the operations of both bureaux on 1 August 2005. This report and the work and aims contained herein must be read against this background.
Recruitment and appointment of trustee directors
Directors are elected at the Annual General Meeting by the members of the bureau in accordance with the Articles of Association. The constitution contains provisions for the co-option of directors and the nomination of corporate representatives (subject to maxima) which have yet to be exercised. The directors elect a chair from amongst their number. The Bureau's principal funder (Dover District Council) appointed 2 representatives to supervise its interests.
Induction of trustee directors
Directors are provided with Citizens Advice publications on their duties and receive training from Citizens Advice.
Organisational structure
The Bureau is governed by its Board of Directors which is responsible for setting the strategic direction of the organisation and the policy of the charity. The directors carry the ultimate responsibility for the conduct of the bureau and for ensuring that the charity satisfies its legal and contractual obligations. Directors meet quarterly as a minimum and delegate the day to day operation of the organisation to management. The Board of Directors is independent of management. Directors' interests must be declared and noted in the minutes of Board Meetings. The directors have delegated day to day management of the charity to the Chief Executive. The Directors, Jan Stewart (Chief Executive), Natasha James (Service Manager) are the Key Management Personnel as defined by the Charites SORP FRS 102.
Related parties
The Bureau is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for the standards of advice and casework managements as well as monitoring progress against these standards. Operating policies are independently determined by the bureau's Board of Directors in order to fulfil its charitable objects and comply with the national membership requirements.
The Bureau operates and liaises with a number of other advisory services, local charities and social services departments on behalf of itself and its clients. Where one of the directors holds the position of trustee/director of another charity, he/she may be involved in discussions regarding that other charity but not in the ultimate decision making process.
Major risks
The directors recognise that any major risks to which the charity is exposed need to be reviewed regularly. To that end, the bureau is continually monitoring and managing its risks and ensuring action plans are in place to mitigate its key risks.
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 3
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Major risks - Cont'd
Included in external risks is that of the loss of funding. The charity continues to seek to diversify its funding sources. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
OBJECTIVES AND ACTIVITIES
Objectives
The charity's objectives are to promote any charitable purpose for the benefit of the community in Dover, Deal and District by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress.
Aims
Dover and Deal Citizens Advice aims to provide free, confidential, impartial and independent advice and information for the benefit of the local community, to exercise a responsible influence on the development of social policies and services and to ensure individuals do not suffer through lack of knowledge or an inability to express their needs effectively.
Activities, achievements, performance and factors affecting achievement of objectives
Dover and Deal Citizens Advice has capitalised on it's move to the new offices in Deal and the expanded offices in Dover. We have currently 12 new trainees undertaking our extensive training which will make a huge difference to our service offer. They all do a brilliant job and without them we wouldn’t exist.
We are working with our sister Citizens Advice offices in Kent to investigate the possibility of merging the 6 offices into one stronger and more streamlined entity. This will enable us to look into achieving larger grants for substantial projects. We have working group investigating this plan to report back 2025.
We have dealt with over 10,000 issues and we have brought in £1,189,383 to the district. For every £1 of our grant from DDC we have provided 12.5 times as much back in financial gain to the district. We have seen a 3 fold increase in people reporting domestic abuse in our area and dealt with debt benefits and housing as our top three issues.
FINANCIAL REVIEW
Short-term funding has effectively improved over the last financial year. Nevertheless, we remain entirely dependent on our core funding from Dover District Council, without which we could not offer a service. We have also been able to offer substantial help through the household fund to those in the greatest hardship. We have received national funding to develop our energy advice services and our adviceline services. We continue to maintain and where possible increase the availability of our services with the help of our funders where we are in a financially viable position to do so .
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 4
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Reserves policy and going concern
The Trustees are required to ensure that unrestricted monies are available in each financial year to meet any reasonable foreseeable contingency. As such, we keep sufficient reserves to enable us to wind up the Charity without a deficit, should that prove necessary. In reviewing the potential costs that could arise should a significant reduction in income be incurred, the directors have determined that unrestricted reserves should be maintained equal to approximately 3 months normal operating expenditure. At 31 March 2024 our unrestricted general reserves exceeded this amount. We are always alert to the possibility that our Service could face reduced funding and in those circumstances unrestricted reserves would be reduced if activities were to continue at the same level
The accounts have been prepared on a going concern basis on the expectation that the charity will receive sufficient funding for at least one year from the date these accounts are formally approved. The Charity is heavily dependent on Dover District Council and a three year service level agreement which although is due to expire on 31 March 2025, a further three agreement with the Council has been agreed in principle.
Principal funding sources
We are reliant on Dover District Council for funding and we thank them for their support. We have also again received household funding to distribute to clients who are struggling in the present climate.
Short term funding has been achieved this year but the projects usually only last for twelve months. We do have the ongoing Money Advice Service funding and several other funding bids in place. This is also the reason that we are considering merger.
Investment policy and activities
The governing document gives power of investment to directors as they may decide fit. The directors believe that any investments should be in the lowest risk category. Apart from the designated funds, other cash funds arise because the Local Authority Grant is now paid in one instalment across the financial year, for which we are grateful. Accordingly, the trustees consider any investment to be short term in nature and that bank deposits are the most appropriate investment vehicle. Only our designated Charity Closure fund is held in the form of a bond.
FUTURE PLANS
We are continuing to develop our services with the use of technology and AI. We have put more resources into our telephone and email services and added a useful BOT to our website to give clients direct access to our appointments and information systems.
Over the next two years we will look to merge with our sister organisations in East Kent while protecting our local service offer.
PUBLIC BENEFIT
The trustees confirm that they have complied with their duty as prescribed by section 4 of the Charities Act 2006 to have due regard to the Charity Commission public benefit guidance.
Signed on behalf of the Board of Trustees by :
Jan Stewart - Company secretary
Date : 19 December 2024
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF
Page 5
DOVER, DEAL & 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 2024 which are set out on pages 6 to 15.
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
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 with the examination giving me cause to believe:
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1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2 the accounts do not accord with those records; or
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3 the accounts do not comply with the accounting requirements of section 386 of the 2006 Act other than any requirements that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
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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 the 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.
S J Wren FCCA Accountancy Matters (Kent) Limited Chartered Certified Accountants The Marlowe Innovation Centre Marlowe Way Ramsgate Kent CT12 6FA
Date : 27 December 2024
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 6
STATEMENT OF FINANCIAL ACTIVITIES (incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024
| Notes Unrestricted funds £ INCOME Donations and grants 2a 42,369 Charitable activities 2b 215,631 Income from other trading activities 2c - Investment income 2d 887 TOTAL INCOME 258,887 EXPENDITURE Costs of raising funds 3 7,711 Charitable activities 3 269,746 TOTAL EXPENDITURE 277,457 NET (EXPENDITURE)/INCOME FOR THE YEAR BEFORE TRANSFERS 4 (18,570) Transfers between funds 10 14,613 NET MOVEMENT IN FUNDS FOR THE YEAR (3,957) Balances as at 1 April 2023 128,967 BALANCES AT 31 MARCH 2024 125,010 |
Restricted funds £ 70,375 55,860 - - 126,235 - 98,950 98,950 27,285 (14,613) 12,672 45,414 58,086 |
Total Total funds funds 2024 2023 £ £ 112,744 100,345 271,491 210,382 - (325) 887 276 385,122 310,678 7,711 7,087 368,696 282,252 376,407 289,339 8,715 21,339 - - 8,715 21,339 174,381 153,042 183,096 174,381 |
|---|---|---|
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 7
BALANCE SHEET AS AT 31 MARCH 2024
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors and prepayments 7 Balances at bank: Shawbrook Bank Limited Lloyds Bank Plc Cash in hand CURRENT LIABILITIES Creditors: amounts falling due within one year 8 NET ASSETS 9 Represented by: FUNDS OF THE CHARITY Unrestricted general fund 10 Designated funds 10 Restricted funds 10 TOTAL FUNDS |
12,283 35,226 128,645 186 176,340 (15,964) |
2024 £ 22,720 2,403 35,158 138,425 247 176,233 (22,308) 160,376 183,096 67,290 57,720 58,086 183,096 |
2023 £ 20,456 153,925 |
|---|---|---|---|
| 174,381 | |||
| 73,511 55,456 45,414 |
|||
| 174,381 |
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under s.477 Companies Act 2006 and no members have deposited a notice under s.476 requiring an audit.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with s.386 of the Act for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Charities SORP (FRS 102).
Approved and signed for issue by the trustees on 19 December 2024.
Gillian Plummer - Chair
David Pestell - Vice Chair
Company number - 05316853
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 8
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 ACCOUNTING POLICIES
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 the 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.
Dover, Deal & District Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The principal accounting policies adopted are as follows:
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a) Preparation of the accounts on a going concern basis
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The accounts have been prepared on a going concern basis on the expectation that the charity will receive sufficient funding for at least one year from the date these accounts are formally approved. The Charity is heavily dependent on Dover District Council and a three year service level agreement which although is due to expire on 31 March 2025, a further three agreement with the Council has been agreed in principle.
b) Income
Grants receivable - grants made to finance the activities of the bureau are credited to the Statement of Financial Activities (SOFA) in the period to which they relate.
Bank interest - bank interest is included in the SOFA on receipt. Other income - other income, including donations and gifts are included as they were received. Gifts and intangible income - in addition to the above, the charity also receives help and support in the form of voluntary assistance in advising the public. This help and support is not included in the financial statements.
Deferred income - grants received in advance of the period in which the funder requires the expenditure to be applied will be reflected within deferred income on the balance sheet.
-
c) Expenditure
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All expenditure is accounted for on an accruals basis and includes VAT where applicable. All expenditure directly related to the provision of the advisory services is included within the charitable expenditure. Other costs incurred have been allocated between activities for generating funds and governance as appropriate. Where such costs relate to more than one functional cost category they have been split on an estimate of time spent.
d) Depreciation of fixed assets
Tangible fixed assets costing more than £200 are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows :
Leasehold improvements 20% straight line Computers, software and equipment 33% straight line Furniture and fittings 25% straight line
- e) Leases
Rental costs are charged to the Statement of Financial Activities as incurred.
f) Pensions
The pension cost charge in the Statement of Financial Activities represent the contributions payable by the bureau in the relevant year.
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 9
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 ACCOUNTING POLICIES
g) Fund accounting
Unrestricted funds are grants, donations and other incoming resources receivable by the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds relates to income to be used for specific purposes as laid down by the donor.
h) Significant judgements and estimates
No significant judgements have had to be made by the Trustees in preparing these financial statements
2 INCOME
| INCOME Unrestricted funds £ a) Donations and grants Estimated market rent value of premises provided by Dover District Council at no cost: Dover premises 14,900 Dover District Council - Cit - A -Out of Area Pilot project 25,160 Cit - A - Debt Modernisation - DWP - Kickstart - Donations 2,309 42,369 b) Charitable activities Dover District Council 97,000 Dover District Council - Employment service Money Advice Service CA in North & West Kent - Mental Health 44,413 CA in North & West Kent - Advice Line - The Trussell Trust - Deal Food Bank 12,325 Dover Outreach Centre - Dover Foodbank 4,862 CA Oxfordshire South and Vale 5,000 Cit - A - Energy Advice Project 5,906 Cit - A - Cost of living funding 15,000 Cit - A - Remote Service Delivery 31,125 215,631 c) Income from other trading activities Share of running costs of Deal premises - Fundraising - - d) Investment income Bank interest received 887 |
Restricted funds £ - 68,870 - 1,505 - - 70,375 - 55,860 - - - - - - - - 55,860 - - - - |
2024 Total funds £ 14,900 68,870 25,160 1,505 - 2,309 112,744 97,000 - 55,860 44,413 - 12,325 4,862 5,000 5,906 15,000 31,125 271,491 - - ~~.~~ - 887 |
2023 Total funds £ 10,000 80,000 - - 4,177 6,168 |
|---|---|---|---|
| 100,345 | |||
| 97,000 30,000 54,233 11,041 13,072 5,036 - - - - - |
|||
| 210,382 | |||
| (325) - |
|||
| (325) | |||
| 276 |
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 10
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 3 EXPENDITURE Unrestricted funds £ Costs of raising funds : Wage costs 7,711 Charitable activities : Wage costs 118,593 Subcontract - Travel and other staff and volunteer costs 3,801 Hardship Support costs - Publicity 581 Telephone charges 3,844 Printing, postage and stationery 6,982 Copier lease 1,941 Information and training 2,774 CAB subscription and reference materials 5,005 Computer & office equipment support and maintenance 7,825 Property maintenance 2,160 Covid PPE and cleaning - Estimated market value of premises provided by Dover District Council at no cost: Dover premises 14,900 Rent 5,760 Utility costs 643 Sundries - Depreciation 12,252 Support costs Wage costs 69,651 Insurance 407 Bank charges and interest 134 Accountancy fees 2,103 Payroll costs 640 Governance costs Wage costs 8,142 Trustee and AGM expenses - Legal and professional 48 Independent Examiner's fee 1,560 269,746 Total Expenditure 277,457 |
Restricted funds £ - 70,928 3,961 - 22,242 - - - - 1,222 - 597 - - - - - - - - - - 98,950 98,950 |
2024 2023 Total Total funds funds £ £ 7,711 7,087 189,521 131,303 3,961 3,571 3,801 3,150 22,242 14,836 581 549 3,844 3,702 6,982 3,597 1,941 2,044 3,996 3,105 5,005 6,009 8,422 2,956 2,160 810 - 519 14,900 10,000 5,760 3,600 643 590 - 150 12,252 11,234 69,651 67,742 407 1,371 134 136 2,103 1,627 640 714 8,142 7,292 - - 48 85 1,560 1,560 368,696 282,252 376,407 289,339 |
|---|---|---|
Of the total expenditure in 2023 of £289,339, £195,244 was unrestricted and £94,095 was restricted.
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 11
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 4 NET EXPENDITURE IS STATED AFTER CHARGING Depreciation Independent Examiner's remuneration : Management accounts/payroll Independent Examiners' fee 5 INFORMATION REGARDING EMPLOYEES Wages and salaries Redundancy Social security costs Employer pension contributions Employment Allowance The average monthly head count was 12 staff (2023 - 10 staff). The average number of employees based on full time equivalents analysed by Advisory services Management and administration |
2024 2023 £ £ 12,252 11,234 2,743 2,341 1,560 1,560 2024 2023 £ £ 253,961 198,928 - - 21,432 16,244 4,632 3,252 (5,000) (5,000) 275,025 213,424 function was: 2024 2023 Number Number 8 6 2 2 10 8 |
2023 £ 11,234 2,341 1,560 |
|---|---|---|
| 2023 £ 198,928 - 16,244 3,252 (5,000) |
||
| 213,424 |
No employee received remuneration of more than £60,000 during the year or the preceding year. No trustees received remuneration or expenses from the charity during the year (2023 - £Nil). The total employee benefits (including employers national insurance) of the key management personnel of the charity were £76,863 (2023 - £73,550)
| FIXED ASSETS Cost As at 1 April 2023 Additions Disposals As at 31 March 2024 Depreciation As at 1 April 2023 Disposals Charge for the year As at 31 March 2024 Net book value As at 31 March 2024 As at 31 March 2023 |
Leasehold Furniture & Improvements fittings £ £ 21,395 12,624 3,280 759 - (698) 24,675 12,685 8,558 6,387 - (698) 4,935 2,790 13,493 8,479 11,182 4,206 12,837 6,237 |
£ 41,143 10,476 (25,362) 26,257 39,761 (25,362) 4,526 18,925 7,332 1,382 software & equipment Computers, |
Total £ 75,162 14,515 (26,060) |
|---|---|---|---|
| 63,617 | |||
| 54,706 (26,060) 12,251 |
|||
| 40,897 | |||
| 22,720 | |||
| 20,456 |
6 FIXED ASSETS
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| 7 DEBTORS 2024 £ Other debtors 3,242 Accrued income 6,972 Prepayments 2,069 12,283 8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 £ Taxation and social security 7,039 Other creditors 6,182 Accruals 2,743 Deferred income - 15,964 9 ANALYSIS OF NET ASSETS BETWEEN FUND General Designated Restricted funds funds funds £ £ £ Fixed assets - 22,720 - Current assets 83,254 35,000 58,086 Current liabilities (15,964) - - Net assets as at 31 March 2024 67,290 57,720 58,086 ANALYSIS OF NET ASSETS BETWEEN FUND - PREVIOUS YEAR General Designated Restricted funds funds funds £ £ £ Fixed assets - 20,456 - Current assets 95,819 35,000 45,414 Current liabilities (22,308) - - Net assets as at 31 March 2023 73,511 55,456 45,414 |
2023 £ - - 2,403 |
|---|---|
| 2,403 | |
| 2023 £ - 3,366 2,935 16,007 |
|
| 22,308 | |
| Total £ 22,720 176,340 (15,964) |
|
| 183,096 | |
| Total £ 20,456 176,233 (22,308) |
|
| 174,381 |
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 13
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
10 MOVEMENT IN FUNDS
| Restricted funds Money Advice Service Hardship Support Fund Video Equipment Debt Modernisation Fund Cost of Living Impact Fund Total restricted funds Designated funds Charity closure Fixed assets fund Total designated funds Unrestricted general funds Total funds |
As at 1 04 2023 £ - 44,114 1,300 - - 45,414 35,000 20,456 55,456 73,511 174,381 |
Income Expenditure £ £ 55,860 (59,382) 68,570 (39,568) (1,300) - 1,505 - 1,600 - 126,235 (98,950) - - - - - - 258,887 (277,457) 385,122 (376,407) |
As at Transfers 31 03 2024 £ £ 3,522 - (15,030) 58,086 - - (1,505) - (1,600) - (14,613) 58,086 - 35,000 2,264 22,720 2,264 57,720 12,349 67,290 - 183,096 |
|---|---|---|---|
RESTRICTED FUNDS
Money Advice Service
Money Advice Service Hardship Support Fund in partnership with central Citizens Advice. This project is to deliver first tier debt advice to 22 clients per month, completing an initial assessment and offering help and referral within Citizens Advice service and our own debt specialist. The transfer of £3,522 from general funds relates to an overspend on the fund.
Hardship Support Fund
We operated a hardship fund with funding received from Dover District Council which gives us the opportunity to provide essentials to people in the greatest need throughout the current financial climate. We work with our partnership of voluntary organisations to assist those in the most need with financial support and financial guidance to ensure that those in the most need are helped in order to avoid future issues. In agreement with Dover District Council, some of the Fund has been used to sustain our core services for the benefit of the local population. The transfer to general funds relates to a contribution towards the charity's overheads of £13,714 and capital expenditure of £1,316.
Video Equipment
A grant received in a previous year from Dover District Council to fund video/publishing equipment to allow us to create help videos to be embedded on our revised website. As this grant has not been used it has been returned to the District Council
Debt Modernisation Fund
This project is to work with those in need to maximise their income. The funds were used to update our IT equipment and therefore is shown a fixed asset and therefore a transfer has been made to unrestricted funds.
Cost of living Community Impact Fund
This fund allows us to purchase four advice tablet hubs for the district to allow clients direct access to our services. As these tablets are fixed assets they are shown as a transfer to unrestricted funds.
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 14
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
DESIGNATED FUNDS
Charity closure
The Trustees have created a fund to represent the estimated costs of the charity if it had to close due to a lack of funding.
Fixed assets
A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created as the carrying value of the assets cannot be utilised for future expenditure.
MOVEMENT IN FUNDS - PREVIOUS YEAR
| Restricted funds Money Advice Service Hardship Support Fund Video Equipment Employment Service Total restricted funds Designated funds Charity closure Fixed assets fund Total designated funds Unrestricted general funds Total funds |
As at 1 04 2022 £ - 12,601 1,300 - 13,901 35,000 26,501 61,501 77,640 153,042 |
Income Expenditure £ £ 54,233 (49,259) 80,000 (14,836) - - 30,000 (30,000) 164,233 (94,095) - - - - - - 146,445 (195,244) 310,678 (289,339) |
As at Transfers 31 03 2023 £ £ (4,974) - (33,651) 44,114 - 1,300 - - (38,625) 45,414 - 35,000 (6,045) 20,456 (6,045) 55,456 44,670 73,511 - 174,381 |
|---|---|---|---|
RESTRICTED FUNDS - PREVIOUS YEAR
Money Advice Service
Money Advice Service funded Debt Advice Project in partnership with central Citizens Advice. This project is to deliver first tier debt advice to 35 clients per month, completing an initial assessment and offering help and referral within Citizens Advice service and our own debt specialist. The transfer of £4,974 to general funds is a contribution towards office and utility costs.
Hardship Support
We operated a hardship fund with funding received from Dover District Council which gives us the opportunity to provide essentials to people in the greatest need throughout the current financial climate. We work with our partnership of voluntary organisations to assist those in the most need with financial support and financial guidance to ensure that those in the most need are helped in order to avoid future issues. In agreement with Dover District Council, some of the Fund has been used to sustain our core services for the benefit of the local population. The transfer to unrestricted funds is in respect of the wage cost (£17,599) in administering the Fund, contribution towards fixed assets (£3,421) , other non direct financial support costs (£631) and an agreed contribution towards the charity's office costs (£12,000).
DOVER, DEAL & DISTRICT CITIZENS ADVICE BUREAU
Page 15
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
RESTRICTED FUNDS - PREVIOUS YEAR - Cont'd
Video Equipment
A grant from Dover District Council to fund video/publishing equipment to allow us to create help videos to be embedded on our revised website. As at the year end this grant has not been used and therefore will be carried forward to next year.
Employment service
Dover District Council funded an employment specialist for two years from April 2021. They will work with those in the greatest need following employment issues to ensure they do not suffer from a lack of support or knowledge.
DESIGNATED FUNDS - PREVIOUS YEAR
Charity closure
The Trustees have created a fund to represent the estimated costs of the charity if it had to close due to a lack of funding.
Fixed assets
A fund created by the Trustees and represents the net book value of the charity's fixed assets at the balance sheet date. The fund was created as the carrying value of the assets cannot be utilised for future expenditure.
11 FINANCIAL COMMITMENTS
At 31 March 2024 the Charity had future minimum lease payments under non-cancellable operating leases as follows:
| leases as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| within one year | 2,977 | 1,365 |
| within two to five years | 1,089 | 756 |
| after five years | - | - |
12 MEMBERS LIABILITY
The company is a company limited by guarantee. The members' liability is limited to £1 each.
13 CORPORATION TAXATION
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
14 RELATED PARTY TRANSACTIONS
There were no transactions with related parties during the year under review or the preceding year.