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2020-03-31-accounts

Company registration number: 05409735 Charity registration number: 1109922

Mansfield and District Citizens Advice Bureau

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2020

Community Accounting Plus Units 1 & 2, North West 41 Talbot Street Nottingham NG1 5GL

Mansfield and District Citizens Advice Bureau

Contents

Reference and Administrative Details 1
Trustees’ Report 2 to 5
Independent Examiner's Report 6
Statement ofFinancial Activities 7to 8
Balance Sheet 9
NotestotheFinancialStatements 10to23

Mansfield and District Citizens Advice Bureau

Reference and Administrative Details

Trustees

Secretary

Carmel Reilly, Chair Ian Rabett, Vice Chair Robert Kerr, Treasurer Barbara Nestor Robert Anderton Clare Heyting Ann Norman Brian Williams Liam Hollinshead S M Hartley-Jones

Senior Management Team

Simon Hartley-Jones Pam Tooth, Operations Manager Neil Hollinshead, Service Manager

Principal Office

Company Registration Number

16 Regent Street Mansfield Nottinghamshire NG18 1SS 05409735

Charity Registration Number 1109922

Independent Examiner

John O'Brien, employee of Community Accounting Plus Units 1 & 2, North West 41 Talbot Street Nottingham NGI 5GL

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Mansfield and District Citizens Advice Bureau

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2020. Trustees Carmel Reilly, Chair Ian Rabett, Vice Chair Robert Kerr, Treasurer Barbara Nestor Robert Anderton Clare Heyting Ann Norman Brian Williams Liam Hollinshead Barry Answer (resigned 1 January 2020)

Structure, governance and management

Nature ofgoverning document

The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 31 March 2005, the company registered as a charity on 8 June 2005. It has no share capital and the liability of each member in the event ofwinding-up is limited to £1.

Recruitment and appointment oftrustees

Trustees are elected from the local community and must either reside or work within the area of benefit. An election committee, made up of trustees, the chief executive and chaired by the chair is established to oversee the elections process for board appointments. The reference and administration details above identify the constituencies that elected each of the current trustees. No other persons or bodies were entitled to appoint persons to the board.

Induction and training oftrustees

Newly appointed trustees are provided with a comprehensive induction to Mansfield and District Citizens Advice Bureau through the provision of training courses and mentoring by established trustees.

Organisational structure

Mansfield and District Citizens Advice Bureau is governed by its trustee board which is responsible for setting the strategic direction of the organisation and the policy of the charity. The trustees carry the ultimate responsibility for the conduct of Mansfield and District Citizens Advice Bureau and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day to day operation of the organisation to senior management. The trustee board is independent from management. A register of members’ interest is maintained at the registered office and is available to the public.

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Mansfield and District Citizens Advice Bureau

Trustees’ Report

Relationships with related parties

The National Association of Citizens Advice Bureau Mansfield and District Citizens Advice Bureau is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureau, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the trustee board of Mansfield and District Citizens Advice Bureau in order to fulfil its charitable objects and comply with the national membership requirements. .

The charity also co-operates and liaises with a number of other advisory services, local charities and social services departments on behalf of clients. Where one of the trustees or senior employees holds the position of trustee/director of another charity they may be involved in discussion regarding that other charity but not in the ultimate decision making process.

Objectives and activities

Objectives, strategies and activities

The principal activity of Mansfield and District Citizens Advice Bureau remained the provision of free, confidential, 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.

Objects and aims

The company's objects are to promote any charitable purpose for the benefit of the community in Mansfield district and surrounding area and in the County of Nottinghamshire by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress. The charity will work in partnership with Citizens Advice nationally, Mansfield and District Citizens Advice Bureau 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,

Public benefit

The activities of Mansfield and District Citizens Advice Bureau further public benefit by providing free, confidential, independent and impartial advice, information and counsel for members of the public. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review Incoming resources in the year were £327,908 (2019: £367,669). Of this £222,350 (2019: £210,815) related to project restricted activities. At 31 March 2020 total reserves, excluding the pension deficit of £671,000 (2019: £744,000) were £219,604 (2019: £220,224) which comprised £172,608 (2019: £169,677) relating to designated funds, a general fund balance of £8,326 (2019: £4,471) and £38,670 (2019: £46,076) relating to restricted funds. When reviewing the accounts excluding the pension deficit there is a deficit for the year of£620 (2019: surplus of £56,202). This is an increase in general funds of £3,855 (2019: increase of £7,765) and increase in designated funds of £2,931 (2019: increase of £2,361) and a decrease in restricted funds of £7,406 (2019: an increase of £46,076 due to the receipt of Development Fund money which wasn't spent at the end of March 2019).

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Mansfield and District Citizens Advice Bureau

Trustees' Report

Policy on reserves

Mansfield and District Citizens Advice Bureau is required to ensure that free monies are available in each financial year to meet any reasonable foreseeable contingency. The bureau maintains a three year business plan and will ensure that income continues to be derived from as wide a variety of sources as possible. The trustees will take all necessary steps to ensure that at no time within this period would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation that it could not be managed so as to continue to provide a good quality advice service.

The trustees are determined to continue to rebuild the reserves in order to meet any unforeseen expenditure that may arise.

Our free cash reserves gave us the confidence to cancel our overdraft facility during the year. Although they are far short of policy the additional funds secured towards the end of the year and new funds already secured in 2020/21 give us confidence that our reserves should exceed policy by 31st March 2021.

Major risks and management of those risks Major Risks Mansfield and District Citizens Advice Bureau have worked on a Corporate Risk Management exercise. A risk management strategy and risk register were agreed by the trustee board. The trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end Mansfield and District Citizens Advice Bureau is continually monitoring and managing its risk, reviewing the corporate risk register and ensuring action plans are in place to mitigate key risks. Included in external risks is that of the loss of funding. The effects of this have been minimised by the procedures in place, which have resulted in funding being secured from a variety of sources. 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 charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Covid 19 A worldwide pandemic hit our service in March 2020. By the end of March all of our services were transferred to telephone and digital delivery. Trustees will continually review our service delivery and will reopen our face to face services as soon as Government guidance allows us.

Plans for future periods In 2020/21 we plan to: ¢ Maintain our Advice Quality Standard award; * Install a new telephone system to improve our telephone advice offer; Mansfield.* Bid into the Big Lottery partnership funding with our local foodbanks to reduce food poverty across

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Mansfield and District Citizens Advice Bureau

Trustees' Report

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Statement of Trustees’ Responsibilities

The trustees (who are also the directors of Mansfield and District Citizens Advice Bureau for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: ;

» state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and ° preparethe financial statements on the going concern basis unless it is inappropriateto presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection offraud and other irregularities, The annual report was approved by the trustees of the charity ahora signed on its behalf by:

.

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Trustee
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Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

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Mansfield and District Citizens Advice Bureau

Independent Examiner's Report to the trustees of Mansfield and District Citizens Advice Bureau

Independent examiner’s report to the trustees of Mansfield and District Citizens Advice Bureau (‘the Company’) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2020.

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 | 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 and Fellow of the Association of Charity Independent Examiners, 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 that in any material respect:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  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)].

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.

John @'Brien MSc, FCCA, FCIE Fellow of the Association of Charity Independent Examiners

Units 1 & 2, North West 41 Talbot Street Nottingham NG1 5GL

pa ZL fe[oO]

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Mansfield and District Citizens Advice Bureau

Statement of Financial Activities for the Year Ended 31 March 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

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|||||||||| |---|---|---|---|---|---|---|---|---| |Pension| |Unrestricted|Restricted|Reserve|Total|Total| |Note|funds£|funds£|fund£|2020=|2019£| |Income|and|Endowments|from:| |Donations|and|legacies|2|93,000|-|-|93,000|82,100| |Charitable|activities|3|12,372|222,350|-|234,722|285,498| |Investment|income|5|186|-|-|186|71| |Total|Income|105,558|222,350|-|327,908|367,669| |Expenditure|on:| |Charitable|activities|6|(98,772)|(229,756)|(46,000)|(374,528)|(356,467)| |Total|Expenditure|(98,772)|(229,756)|(46,000)|(374,528)|(356,467)| |Net income/(expenditure)|6,786|(7,406)|(46,000)|(46,620)|11,202| |Other|recognised|gains| |and|losses| |Actuarial|gains/(losses)|on| |defined|benefit|pension| |schemes|-|-|119,000|119,000|97,000| |Net movement|in|funds|6,786|(7,406)|73,000|72,380|108,202| |Reconciliation|of funds| |Total|funds|brought| |forward|174,148|46,076|(744,000)|(523,776)|(631,978)| |Total|funds|carried forward|19|180,934|38,670|(671,000)|(451,396)|(523,776)|

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All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 19.

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Mansfield and District Citizens Advice Bureau

Statement of Financial Activities for the Year Ended 31 March 2020 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

These are the figures for the previous accounting period and are included for comparative purposes

Unrestricted Restricted Pension Total
funds funds Reserve fund 2019
Note £ £ £ £
Income and Endowments from:
Donationsand legacies
Charitable activities
Investment income		 2
3
5		 82,100
74,683
71		 -
210,815
-		 -
-
-		 82,100
285,498
71
Total Income 156,854 210,815 - 367,669
Expenditure on:
Charitable activities 6 (146,728) (164,739) (45,000) (356,467)
TotalExpenditure (146,728) (164,739) (45,000) (356,467)
Netincome/(expenditure) 10,126 46,076 (45,000) 11,202
Other recognised gains and
losses
Actuarial gains on defined
benefitpension schemes - - 97,000 97,000
Netmovement infunds 10,126 46,076 52,000 108,202
Reconciliation offunds
Total funds brought forward 164,022 - (796,000) (631,978)
Totalfundscarriedforward 19 174,148 46,076 (744,000) (523,776)

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Mansfield and District Citizens Advice Bureau

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(Registration number: 05409735)
BalanceSheet as at 31March 2020
Note 2028£ 2019&
Fixed ussets
Tangible assets i2 347,196 354,916
Current assets
Debtors 13 747 737
Cash at bank and in hand 14 71371 74,019
72618 F456
Creditors: Amounts falling due within une year 15 (36,273) ____G4.290)
Net current assets 36,345 40,466
Total asecis less current fiabilities 383,541 395,382
Creditors: Amounts falling due after more than one year 16 ___ £163,937) (175,158)
Net assets excluding pension flability 219,604 220,224 :
Pension scheme ability 17 _ (671,000) __(744,000)
Net Habitities inchuding pension Kability 145139) __ (523.779
Fundsof the charity:
Pension Reserve (671,000) (744,000)
Restricted funds 38,670 46,076
Unrestrictedincome fands
Unrestricted funds 180,934 174,148
Total funds 19 (451396) __ (523,778)
For the financial year ending 3! March 2020 the charity was entitled tn exemption from sedit under section 47? of the Companies Act 2006
relatingto small companics.
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Directors’ reapoasibilaics

e ‘Toe merabers kave not required the charity \e obtin as aedit of its accounts far the year in question in accordance with section 476, and

These accourts heave heew prepared in accordatce weth the provisions applicable ta companics subject te dee sal! companies regime.

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The financial statements om pages 7 to 23 were approved by the trustees, and authorised for issue on
41B=42-2eand signed on their behalfby:
Fe
vomits bd / / ofy,
ae nghuink
Trustee
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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 201 1.

Basis of preparation

Mansfield and 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 notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash flow statement

The charity opted to adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is not charged on the freehold property as it is regularly maintained and considered to have a residual value in excess of the carrying value. Depreciation is provided on other assets at the following annual rates in order to write off each asset over its estimated useful life.

Asset class Depreciation method and rate Improvements to Property Straight line over 10 years Furniture Straight line over 5 years Equipment Straight line over 3 years

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees’ discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. The charity also operates a defined benefit pension scheme. Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the Balance Sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability. Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

2 Income from donations and legacies

Unrestricted
funds
General Total
2020		 Total
2019
£ £ £
Donations and legacies;
Donations from companies, trusts and similar proceeds 25,200 25,200 100
Grants, including capital grants;
Government grants 67,800 67,800 82,000
93,000 93,000 82,100

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

3 Income from charitable activities

Unrestricted
funds
General Restricted
funds		 Total
2020		 Total
2019
£ £ £ £
Grants& donations - 222,350 222,350 210,815
Rent&room hire 11,850 - 11,850 12,152
Sundry income 522 - 522 417
Fees forwork done - - - 62,114
12/372 222,350 234,722 285,498
4
Grants & donations
Unrestricted Restricted
funds funds Total
£ £ £
Community Advice andLaw Service - 114,687 114,687
BroxtoweCAB 21,700 - 21,700
Mansfield District Council 55,300 - 55,300
St. Ann's Advice - 25,460 25,460
CitizensAdvice - 61,611 61,611
BassetlawCVS (NCC Grant aid) 7,500 - 7,500
Boots Charitable Trust - 9,564 9,564
Awards forAll - 8,528 8,528
Warsop Parish Council 5,000 - 5,000
CharlesLittlewood Hill Trust - 2,500 2,500
SirJohnEastwood Foundation 2,000 - 2,000
Thoresby Charitable Trust 1,500 - 1,500
93,000 222,350 315,350
5
Investment income
Unrestricted
funds
Total Total
General 2020 2019
£ £ £
Interest receivable and similar income;
Interestreceivableonbankdeposits 186 186 71

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

6 Expenditure on charitable activities

Unrestricted funds
Pension
Designated General Restricted
funds		 Reserve
fund		 Total
2020		 Total
2019
£ £ £ £ £ £
Bank charges - 358 - - 358 417
Cleaning &
premises
maintenance = 13,534 - - 13,534 9,476
Depreciation 7,720 = - - 7,720 7,720
Equipment, repairs
&renewals ~ 2,356 1,085 - 3,441 2,583
Insurance - 1,414 - - 1,414 1,487
Legal &
professional fees - 2,478 - - 2,478 3,562
Loan interest - 6,937 - - 6,937 7,192
Overhead
recharges - (37,350) 37,350 - - -
Printing&
stationery - 4,423 - - 4,423 3,790
Publications &
subscriptions - 6,656 44] - 7,097 5,221
Rent& services - 1,216 - - 1,216 996
Salaries, NI&
pensions - 73,916 188,387 46,000 308,303 294,857
Sundry expenses - 100 - - 100 1,150
Telephone&
postage - 6,261 594 - 6,855 5,987
Training&
conferences - - 332 - 332 628
Utilities - 6,806 - - 6,806 7,622
Staff& volunteer
travelling&
expenses - 1,869 1,567 - 3,436 3,779
Subsistence &
refreshments - 78 - - 78 -
7,720 91,052 229,756 46,000 374,528 356,467

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

7 Net incoming/outgoing resources Net (outgoing)/incoming resources for the year include:

Depreciation of fixed assets

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||| |---|---| |2020|2019| |£|£| |1,120|7,720|

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8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Staff costs The aggregate payroll costs were as follows:

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||||||||| |---|---|---|---|---|---|---|---| |2020|2019| |£|£| |Staff costs|during|the|year were:| |Wages and|salaries|223,991|211,500| |Social|security|costs|16,235|15,765| |Pension|costs|22,077|22,592| |FRS|102|pension|service &|interest|costs|46,000|45,000| |308,303|294,857|

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The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

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||||||| |---|---|---|---|---|---| |2020|2019| |No|No| |The average|weekly|number of employees|during the year was|14|12|

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6 (2019 - 4) of the above employees participated in the Defined Contribution Pension Schemes,

3 (2019 - 3) of the above employees participated in the Defined Benefit Pension Schemes. Contributions to the employee pension schemes for the year totalled £22,077 (2019 - £22,592). Pension costs during the year are made up of payments towards the Local Government pensions fund of £8,566 and £11,119 of past pension deficit payments and also £2,392 of payments to NEST which is a defined contribution scheme. (2019: £10,466 and £10,937 respectively, with £1,189 payments to NEST).

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £77,371 (2019 - £78,505).

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

10 Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:

Independent examination

2020 2019
£ £
1,550 1,500
1,550 1,500

11 Taxation

The charity is a registered charity and is therefore exempt from taxation.

12 Tangible fixed assets

Freehold Improvements
Property Furniture Equipment toProperty Total
= £ £ £ £
Cost
At April 2019 325,000 3,950 38,559 77,202
At31 March2020 325,000 3,950 38,559 77,202 444,711
Depreciation
At 1 April 2019 - 3,950 38,559 47,286 89,795
Charge forthe year - - - 7,720 7,720
At 31 March 2020 - 3,950 38,559 55,006 97,515
Net book value
At 31 March 2020 325,000 - - 22,196 347,196
At 31 March 2019 325,000 - - 29,916 354,916
13 Debtors
2020 2019
£ £
Prepayments 747 737
14 Cash and cash equivalents
2020 2019
£ £
Cash on hand 110 110
Cash atbank 71,761 73,909
71,871 74,019

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

15 Creditors: amounts falling due within one year

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||||| |---|---|---|---| |2020|2019| |£|=| |Bank|loans|10,651|10,081| |Other|creditors|25,622|24,209| |36,273|34,290|

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Creditors due within one year includes the following liabilities, on which security has been given by the charity:

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||||||| |---|---|---|---|---|---| |2020|2019| |i|£| |Bank Loan|10,651|10,081| |16|Creditors:|amounts|falling due|after one|year| |2020|2019| |£|£| |Bank|loans|163,937|175,158|

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

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity:

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2020|2019| |£|£| |Bank Loan|163,937|175,158| |Included|in|the|creditors|are|the|following|amounts|due|after more than|five|years:|

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

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2020|2019| |£|£| |After more than|five|years|by|instalments|121,333|134,834|

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

Bank loans and overdrafts after five years

The bank loan is secured against the charity's freehold property at 16 Regent Street, Mansfield, Nottinghamshire and is subject to interest charges at a variable rate of 3.13% above bank base rate.

17 Pension and other schemes

Defined benefit pension schemes

Nottinghamshire County Council Local Government Pension Fund

The charity is one of many participants in the local government pension scheme which is administered by Nottinghamshire County Council. The scheme is a multi-employer defined benefit scheme and is administered for the benefit of Local Authority employees and other bodies. It is managed in accordance with the Local Government Pension Regulations 2013. The administering authority of the fund is Nottinghamshire County Council.

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

The date of the most recent comprehensive actuarial valuation was 31 March 2019. To assess the value of the Employer's liabilities at 31 March 2020, we have rolled forward the value of the Employer's liabilities calculated for the funding valuation as at 31 March 2019, using financial assumptions that comply with FRS102.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was 46,000 (2019 - £45,000).

The total cost relating to defined benefit schemes for the year included in the cost of an asset was £nil ((2019 - £nil).

Reconciliation ofscheme assets and liabilities to assets and liabilities recognised The amounts recognised in the statement of financial position are as follows:

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2020|2019| |£|£| |Fair value|of scheme|assets|858,000|1,023,000| |Present value of defined|benefit obligation|(1,529,000)|(1,767,000)| |Defined|benefit|pension|scheme|deficit|(671,000)|(744,000)|

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

Defined benefit obligation

Changes in the defined benefit obligation are as follows:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2020| |£| |Present|value|at|start of|year|1,767,000| |Current|service|cost|20,000| |Past|service|cost|8,000| |Interest|cost|43,000| |Actuarial|gains|and|losses|(248,000)| |Benefits|paid|(64,000)| |Contributions|by|scheme|participants|3,000| |Present|value|at|end|of year|1,529,000|

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

Fair value ofscheme assets Changes in the fair value of scheme assets are as follows:

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2020| |£| |.|Fair value|at|start of|year|1,023,000| |Interest|income|25,000| |Return|on plan|assets,|excluding|amounts|included|in|interest|income/(expense)|(108,000)| |Actuarial|gains|and|losses|(41,000)| |Employer|contributions|20,000| |Contributions|by|scheme|participants|3,000| |Benefits|paid|(64,000)| |Fair value|at|end|of year|858,000|

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

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

Analysis of assets

The major categories of scheme assets are as follows:

The major categories of scheme assets are as follows:
2020 2019
£ £
Cash and cash equivalents 21,000 31,000
Equity instruments 549,000 615,000
Debt instruments 102,000 131,000
Property 109,000 159,000
Investment funds 77,000 87,000
858,000 1,023,000
Return on scheme assets
2020 2019
£ £
Returnonschemeassets 83,000 94,000

The pension scheme has not invested in any of the charity's own financial instruments or in properties or other assets used by the charity.

Principal actuarial assumptions

The principal actuarial assumptions at the statement of financial position date are as follows:

2020 2019
% %
Discount rate 2.35 2.45
Future salary increases 2.85 3.90
Future pension increases 1.85 2.40
Postretirement mortality assumptions
2020 2019
Years Years
CurrentUK pensioners atretirement age - male 22.00 22.00
CurrentUK pensioners at retirement age - female 24.00 24.00
FutureUK pensioners at retirement age -male 23.00 23.00
FutureUKpensionersatretirementage-female 26.00 26.00

18 Charity status

The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

19 Funds

Other Balance at
Balance at 1 Incoming Resources recognised 31 March
April2019 resources expended Transfers—gains/(losses) 2020
£ £ £ £ £ £
Unrestricted funds
General
General Fund 4,471 105,558 (91,052) (10,651) - 8,326
Designated
Freehold
Property 139,761 - - 10,651 - 150,412
Improvements
to Property 29,916 - (7,720) - - 22,196
169,677 - (7,720) 10,651 - 172,608
Total
Unrestricted
funds 174,148 105,558 (98,772) - - 180,934
Restricted funds
Free Face to
Face Debt
Advice Project - 114,687 (114,687) - - -
Building Better
Opportunities - 25,460 (25,460) - - -
Help to Claim - 61,611 (60,659) - - 952
Development
Fund 46,076 - (18,850) - - 27,226
Recruitment &
Salaries (Boots) z 9,564 (2,400) - - 7,164
Project set up
costs (Awards
forAll) - 8,528 (5,200) - - 3,328
Volunteers
(Charles
Littlewood Hill) - 2,500 (2,500) - ~ -
Total restricted
funds 46,076 222,350 (229,756) - - 38,670
Pension Reserve
Pensionfunds
Pension reserve (744,000) - (46,000) - 119,000 (671,000)
(744,000) - (46,000) - 119,000 (671,000)
Total funds (523,776) 327,908 (374,528) - 119,000 (451,396)
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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

Other Balance at
Balance at 1 Incoming Resources recognised 31 March
April2018 resources expended Transfers gains/(losses) 2019
£ £ £ £ £ £
Unrestricted funds
General
General Fund (3,294) 156,854 (139,008) (10,081) - 4,471
Designated
Freehold
Property 129,680 - - 10,081 - 139,761
Improvements
to Property 37,636 - (7,720) - - 29,916
167,316 . (7,720) 10,081 - 169,677
Total
unrestricted
funds 164,022 156,854 (146,728) - - 174,148
Restricted funds
Free Face to
Face Debt
Advice Project - 114,190 (114,190) - - -
Building Better
Opportunities - 29,265 (29,265) - - -
Help to Claim - 21,284 (21,284) - - -
Development
Fund - 46,076 - - - 46,076
Total restricted
funds - 210,815 (164,739) - - 46,076
Pension Reserve
Pensionfunds
Pension reserve (796,000) - (45,000) - 97,000 (744,000)
(796,000) - (45,000) - 97,000 (744,000)
Totalfunds (631,978) 367,669 (356,467) - 97,000 (523,776)

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

The specific purposes for which the funds are to be applied are as follows:

Restricted Funds

Free Face to Face Debt Advice Project:

Funded by the Community Advice and Law Service the project aims to deliver debt and money advice services to members of the public.

Help to Claim:

Funded by the DWP, this service provides comprehensive face to face, telephone and web chat support to help people make a claim for Universal Credit. The service aims to help 800 people per year.

Building Better Opportunities:

Funded by St. Ann's Advice, the project helps people into work and gives financial capability advice.

Development Fund:

This was a project previously run by the NHS to develop partnerships across the Mid Nottinghamshire area, at the end of this financial year the funding for this project was passed to Mansfield CAB to fund a development project which shall run from April 2019 until March 2021.

Recruitment & Salaries Fund:

This funding was received from Boots Charitable Trust and was towards the recruitment and salaries of staff.

Project set up Fund:

This funding was received from Awards for All and was towards the costs involved training volunteers to offer residency support.

Volunteers Fund:

This was funding received from Charles Littlewood Hill Trust and was towards the training of volunteers and staff salaries.

Unrestricted Funds

Unrestricted funds are available to be spent for any of the purposes of the charity.

Within unrestricted funds there is a designated fund representing an amount equal to the net book value of the charity's freehold property less the bank loan relating to it. Unless the freehold property was to be sold, this balance would not be available for utilisation. The balance will increase as the bank loan reduces.

Also within unrestricted funds there is a designated fund representing an amount equal to the net book value of the improvements to the property undertaken by the charity. Unless the property was to be sold, this balance would not be available for utilisation. The balance is reducing as the improvements depreciate.

The transfer from the General Fund to the Designated Freehold Property Fund represents the amount by which the bank loan has reduced over the year.

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Mansfield and District Citizens Advice Bureau

Notes to the Financial Statements for the Year Ended 31 March 2020

20 Analysis of net assets between funds

Unrestricted funds Unrestricted funds
Pension
Restricted Reserve
General Designated funds fund Totalfunds
£ £ £ £ £
Tangible fixed assets - 347,196 - - 347,196
Current assets 19,502 - 53,116 - 72,618
Current liabilities (11,176) (10,651) (14,446) - (36,273)
Creditors over 1 year - (163,937) - - (163,937)
Pension scheme liability - - - (671,000) (671,000)
Total net assets 8,326 172,608 38,670 (671,000) (451,396)
Unrestricted funds
Pension
General Designated Restricted
funds		 Reserve
fund		 2019
Total funds
£ £ £ £ £
Tangible fixed assets - 354,916 - - 354,916
Current assets 13,488 - 61,268 - 74,756
Current liabilities (9,017) (10,081) (15,192) - (34,290)
Creditors over 1 year - (175,158) - - (175,158)
Pension scheme liability - - - (744,000) (744,000)
Totalnetassets 4,471 169,677 46,076 (744,000) (523,776)

21 Related party transactions

There were no related party transactions in the year.

Page 23