CITIZENS ADVICE MID LINCOLNSHIRE (LIMITED BY GUARANTEE)
Company Number: 05449108 (England and Wales) Charity Number: 1111681
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
CITIZENS ADVICE MID LINCOLNSHIRE
Reference and Administrative Information as at 31 March 2023
Charity name: Citizens Advice Mid Lincolnshire Charity registration number: 1111681 Company Registration Number: 5449108 Registered Office/ The Advice Centre Operational address Moneys Yard Carre Street Sleaford NG34 7TW Other operational office: Municipal Buildings West Street Boston PE21 8QR
Trustee Board/Company Directors Simon Bradford Chair Jenny Paterson Vice Chair and Chair of People & Policies committee Stuart Clegg Treasurer / Chair of Finance committee Tony Gordon (Resigned 19 July 2023) Ben Ellis Liz Sims Christabel Edwards John Kilcoyne Kevin Will Danielle Hardy (Appointed 6 April 2023) Anna Pugh (Appointed 11 April 2023) Sue Mear (Appointed 11 April 2023) Management Team Louise Buckingham Chief Executive Officer Vicki Langley Business Manager Steph Shinn Service Manager
Independent Examiner
Mrs Nicola Lenton FCCA Dexter & Sharpe, The Old Vicarage, Church Close, Boston, PE21 6NA
Bankers
Barclays Bank plc, 52 Market Place, Boston, PE21 6LU
CITIZENS ADVICE MID LINCOLNSHIRE
Contents
| Page | |
|---|---|
| Trustees’ Annual Report | 1 - 5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 15 |
CITIZENS ADVICE MID LINCOLNSHIRE
Report of the Trustee Board for the year ended 31 March 2023
The Trustee Board presents its financial statements and Trustees report for the year ended 31 March 2023.
Our Aims and Objectives
Purposes and Aims
Our local aim, from our articles of association is:
- to establish and maintain a local Citizens Advice for charitable purposes for the benefit of the inhabitants of the Borough of Boston, North Kesteven and of the adjacent districts of the County of Lincolnshire
This allows us to meet the overall aims of Citizens Advice:
-
to provide the advice people need for the problems they face and
-
to improve the policies and practices that affect people's lives by
-
providing free, independent, confidential and impartial advice to everyone on their rights and responsibilities and
-
by valuing diversity, promoting equality and challenging discrimination
Ensuring that our work delivers our aims
This year saw the benefits by way of increased capacity and our ability to push forward on developing new outlets, service delivery channels and other projects.
Our main key objectives for the year 2022-2023 were to continue to
-
provide the provision of free, impartial, independent and confidential advice
-
identify, notify and exert influence with regard to social policies and services
-
increase our advice capacity to meet the needs and demands of our community
How our activities deliver public benefit
Our main activities are undertaken to further our charitable purposes for public benefit.
Who used and benefited from our services
During this financial year which included a short pandemic lock-down and then the reopening of face to face services, we assisted 4948 individual clients, helping with 18,912 issues. Advice was provided via face to face, telephone, email and web chat.
The top 5 issues by proportion were:
-
Debt and financial capability 31%
-
● Benefits and Tax Credits (inc. UC) 29% ● Utilities and communications 10% ● Housing 7% ● Relationship and family 5%
Our age profile of clients across CAML
-
15-24 years old 5% of total clients
-
● 25-34 years old 19% of total clients ● 35-49 years old 31% of total clients ● 50-64 years old 28% of total clients ● Over 65 years old 11% of total clients
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CITIZENS ADVICE MID LINCOLNSHIRE
Report of the Trustee Board continued for the year ended 31 March 2023
Our main services
We give people the knowledge and confidence they need to find their way forward – whoever they are, and whatever their problem. Our service is free, independent, impartial, and confidential. This gives us an insight into the issues our clients are facing and policies that are affecting them unfairly. We feed this information back to national Citizens Advice to help with their research and to influence decision makers to change policies and practices. Our advice is given by a mix of volunteers and paid staff. We also provide specific advice on energy, benefits and debt and can help our clients to appeal decisions and negotiate with creditors.
Quality of advice
We use the ongoing Citizens Advice quality of advice model where we self-assess our performance on a monthly basis; this is then moderated by a sample undertaken by Citizens Advice. We regularly score good or excellent respectively for quality of advice, case administration and the consistency of our self-assessment.
Specialist services
We continue to offer specialist debt advice via our East Midlands Money Advice project funded by the Money Advice and Pensions Service.
We also operate smaller projects, as examples, supported by Boston Big Local (focusing on housing, benefit and debt issues for residents of a specified part of Boston) and the Medlock Charitable Trust providing benefits advice in our local Boston community.
Financial Review
Despite local and central government funding restrictions, we have worked hard to secure necessary and additional funding.
Principal funding sources
Our Funding comes from a mix of grant and contract income with some donations from small bodies and individuals. We particularly welcomed the continuance of funding at the previous year’s level from our local borough and district councils despite the continuing economic downturn and the reduction in their income from central government.
Our funders for 2022-23 were:
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Boston Borough Council – core grant funding
-
North Kesteven District Council – core grant funding
-
Lincolnshire County Council – core grant funding
-
Money Advice Service – EMMA debt advice contract
-
Medlock Trust
-
Sleaford Town Council – overall advice funding
-
Boston Big Local – overall advice for Boston Big Local area residents
-
Citizens Advice (with energy company funding) – energy saving, switching and carbon monoxide advice for individuals and front-line staff across many organisations
-
Big Energy Saving Network – energy consumer workshops and one to one sessions.
-
Energy Redress - information and advice regarding energy saving measures.
-
Trussell Trust Foodbank - financial capability and benefits advice for foodbank attendees
-
Arnold Clark - overall advice funding
-
Evan Cornish - overall advice funding
-
Winter Pressures - energy advice
-
Shine - benefits advice for those with mental health difficulties
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CITIZENS ADVICE MID LINCOLNSHIRE
Report of the Trustee Board for the year ended 31 March 2023
Investment policy
Aside from retaining a prudent amount in reserves each year, most of the charity’s funds are spent in the short term so there are few funds for long term investment.
CAML’s funds are managed tightly. An account also contains CAML reserves.
The Trustee Board, via the Treasurer, will continue to review investment strategy to establish whether a larger return is available at no risk to CAML’s finances.
Reserves policy
The Trustee Board has reviewed the charity’s requirements for reserves in the light of the main risks to the organisation. The established policy is to aim to maintain the greater of:
- 3 months of normal running costs (around £127,000).
Or in the case of immediate closure,
-
funds that will cover redundancy and holiday pay costs.
-
funds to pay our existing other liabilities such as building rent and service charge (12-month notice period), suppliers and equipment leases.
This second figure was totalled around £128,000 as at 31 March 2023.
Our unrestricted reserves for this year are quoted as £302,159. We will designate reserves as follows:
-
Immediate closure/running cost reserve: £127,000
-
IT & office equipment update/replacement reserve: £2,500
-
Premises provision reserve: £20,000
-
TOTAL DESIGNATED RESERVES: £149,500
This leaves a net unrestricted reserve to cover items such as current or future deficits, premises upgrades, service delivery and sustainability at £152,659. Restricted reserves stood at £29,316.
Plans for Future Periods
We plan to continue to improve access to our services by further use of telephone, electronic face-to-face, webchat and email advice opportunities to complement our well established face-to-face offer.
To assist in planning, we have a revised CAML business and service development plan that has been produced to give our strategic direction and timelines for travel along our development path.
Structure, Governance and Management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 11 May 2005 and registered as a charity on 13 October 2005. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Recruitment and appointment of the Trustee Board
The directors of the company are also charity trustees and known as Trustees. Trustees are elected, coopted or nominated to serve for a period of up to the third Annual General Meeting after which they must be elected, co-opted or nominated again. Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in notes 5 & 6 to the accounts. Trustee recruitment remains a key objective in order that the Board:
-
Represent our local communities
-
May ensure that CAML’s activity is aligned to the requirements of all clients
-
Has the correct skills, knowledge and experience in place to govern CAML
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CITIZENS ADVICE MID LINCOLNSHIRE
Report of the Trustee Board for the year ended 31 March 2023
Trustee induction and training
New Trustees spend time in the local offices to get an idea of the activities and pressures that staff and clients face. Data protection training and assessment is mandatory for all Trustees on an annual basis. Trustees are provided with full information on their roles and responsibilities when recruited and asked to work through a programme of information, research and knowledge following their appointment.
Risk management
We have a risk register and have fully reviewed our CAML Business Continuity Plan. This is now being aligned with other partners where relevant, e.g. Boston Borough Council.
Organisational structure
We currently have 12 Trustees (as at 31 March 2023) who meet quarterly as a minimum and also attend Board sub-committee meetings:
-
Finance
-
People & policies
The Board also takes responsibility under the new Citizens Advice membership agreement and leadership guidance for the strategic direction and policy of the charity.
Related parties
CAML is a member of Citizens Advice with its local and national policy. We are represented on various boards and bodies at local level as well as county.
In Lincolnshire, CAML is part of the Citizens Advice Lincolnshire consortium. This allows for a single county conduit to facilitate countywide funding and activity.
We have well established links with many local organisations and contacts: our local councils, The Trussell Trust, Department for Work and Pensions, Age UK, Centrepoint Outreach (a local homeless charity) and we also continue to maintain close links with our local Community and Voluntary Service colleagues.
Our Trustees also have other areas of interest and influence in our locality and we also encourage our staff to represent their communities within other organisations.
Responsibilities of the Trustee Board
We are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company. In preparing these financial statements the Trustee Board should follow best practice and:
-
Select suitable accounting policies and then apply them consistently.
-
Make judgements and estimates that are reasonable and prudent.
-
Prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
The Trustee Board is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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CITIZENS ADVICE MID LINCOLNSHIRE
Report of the Trustee Board for the year ended 31 March 2023
Members of the Trustee Board
Trustee Board members (who are directors for the purpose of company law and trustees for the purposes of charity law) who served during the year and up to the date of this report are set out earlier.
In accordance with Company Law, as the company’s directors, we certify that:
-
So far as we are aware, there is no relevant examination information of which the company’s examiners are unaware.
-
As the directors of the Company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant examination information and to establish that the charity’s examiners are aware of that information.
Accountants
Dexter and Sharpe were re-appointed as the charitable company’s accountants during the year and have expressed their willingness to continue in that capacity.
This report has been prepared in accordance with the Statement of Recommended Practice; Accounting and Reporting by Charities issued in March 2005 (updated June 2008) and in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small entities.
Approved by the Trustee Board on 12 October 2023 and signed on its behalf by:
Simon Bradford (Chair of Trustee Board)
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CITIZENS ADVICE MID LINCOLNSHIRE
Independent Examiner’s Report To The Trustees of Citizens Advice Mid Lincolnshire
I report on the accounts for the year ended 31 March 2023 set out on pages 7 to 15.
Responsibilities and basis of report
As the charity’s trustees of the Company (who are also the directors of the company 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 for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
-
the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
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.
Mrs Nicola Lenton FCCA Independent Examiner Dexter & Sharpe Chartered Certified Accountants The Old Vicarage Church Close Boston Lincolnshire PE21 6NA
12 October 2023
-6-
CITIZENS ADVICE MID LINCOLNSHIRE
Statement of Financial Activities For the year ended 31 March 2023
| Unrestricted Restricted | Unrestricted Restricted | Total |
Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2023 | 2023 | 2023 | 2022 | ||
| Notes | £ | £ | £ | £ | |
| Income and endowments from | |||||
| 3 | Charitable activities | 243,260 | 173,743 | 417,003 | 399,410 |
| Donations | 32,967 | - | 32,967 | 7,308 | |
| UK Bank interest | 330 | - | 330 | 23 | |
| 4 | Other income | 10,383 | 5,277 | 15,660 | 14,614 |
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_______ |
_______ |
_______ |
||
| Total | 286,940 | 179,020 | 465,960 | 421,355 | |
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||
| Expenditure on: | |||||
| 5 | Charitable activities | 340,841 | 127,292 | 468,133 | 466,197 |
| 5 | Other costs | 2,309 | - | 2,309 | 1,921 |
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_______ |
_______ |
_______ |
||
| 6 | Total | 343,150 | 127,292 | 470,442 | 468,118 |
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||
| Net (expenditure) / income | (56,210) | 51,728 | (4,482) | (46,763) | |
| For the year | |||||
| Transfers between Funds | 58,736 | (58,736) | - | - | |
_______ |
_______ |
_______ |
_______ |
||
| Net Movement in Funds | |||||
| For the year | 2,526 | (7,008) | (4,482) | (46,763) | |
| Balances brought forward at | |||||
| 6 April 2022 | 300,467 | 36,324 | 336,791 | 383,554 | |
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_______ |
_______ |
_______ |
||
| Balances carried forward | |||||
| at 31 March 2023 | 302,993 | 29,316 | 332,309 | 336,791 | |
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The notes on pages 9 to 15 form part of these financial statements
-7-
CITIZENS ADVICE MID LINCOLNSHIRE
Company Number 05449108
Balance Sheet as at 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | |||
| Fixed Assets | |||||
| 8 | Tangible assets | 2,880 | 4,981 | ||
| Current Assets | |||||
| Cash at bank and in hand | 363,292 | 357,090 | |||
| Prepayments | 1,900 | 942 | |||
_______ |
_______ |
||||
| 365,192 | 358,032 | ||||
| Creditors | |||||
| 9 | Amounts falling due within one year | 35,763 | 26,222 | ||
_______ |
_______ |
||||
| Net Current Assets | 329,429 | 331,810 | |||
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_______ |
||||
| Total Assets Less Current Liabilities | 332,309 | 336,791 | |||
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||||
| 10 | Funds | ||||
| Unrestricted | 153,493 | 170,967 | |||
| Designated | 149,500 | 129,500 | |||
| Restricted | 29,316 | 36,324 | |||
_______ |
_______ |
||||
| 332,309 | 336,791 | ||||
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
-
(a) ensuring that the charitable company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 : and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 financial statements, so far as applicable to the charitable company.
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.
The financial statements were approved by the Board of Directors on 12 October 2023 and were signed on its behalf by:
Simon Bradford
Chairman
The notes on pages 9 to 15 form part of these financial statements.
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023
1. STATUTORY INFORMATION
Citizens Advice Mid Lincolnshire is a private limited company, limited by guarantee, registered in England and Wales. The company’s registered number and registered office address can be found on the Company Information page.
2. ACCOUNTING POLICIES
Basis of Preparation of Financial Statements
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 (FRS102) effective January 2015 – (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.
Income
Grants are included on the accruals basis, being recognised in the period they are intended to cover. Grants received before their period of designated expenditure are accrued as deferred income. Donations are included on a receipts basis.
Expenditure
All material categories of expenditure are included on the accruals basis. Other costs include all expenditure not directly related to the charitable activities.
Taxation
The charity is a registered charity and the accounts are prepared on the basis that its activities are not liable to income tax or corporation tax. The bureau is registered for value added tax and has a partial exemption status. Assets, income and expenditure are shown in the accounts net of any VAT payable or recoverable.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Values of less than £500 are not capitalised. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives. The trustees have reviewed the policy and have adopted the following bases of depreciation:
Furniture & equipment 5 years straight line Computer equipment 3 years straight line
Operating leases
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessee, are charged against profits on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
3. INCOME FROM CHARITABLE ACTIVITIES
| 2023 | 2023 | 2022 | 2022 | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Restricted | ||
| £ | £ | £ | £ | ||
| Government and Local Government | 196,111 | 10,000 | - | 8,875 | |
| Other | 47,149 | 163,743 | 213,851 | 176,684 | |
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_______ |
_______ |
_______ |
||
| 243,260 | 173,743 | 213,851 | 185,559 | ||
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||
| 4. | OTHER INCOME | ||||
| 2023 | 2023 | 2023 | 2022 | ||
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Sundry income | 3,508 | - | 3,508 | 12,404 | |
| Boston College Kickstart | - | 5,277 | 5,277 | 2,210 | |
| National Citizens Advice | 6,875 | - | 6,875 | - | |
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_______ |
_______ |
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| 10,383 | 5,277 | 15,660 | 14,614 | ||
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| 5. | EXPENDITURE- UNRESTRICTED | ||||
| 2023 | 2023 | 2023 | 2022 | ||
| Charitable | Other | Total |
Total | ||
| Activities | Costs | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Salaries | 250,226 | - | 250,226 | 236,999 | |
| Training and travelling expenses | 5,018 | - | 5,018 | 3,973 | |
| Office costs | 24,319 | - | 24,319 | 34,816 | |
| Premises cost | 44,273 | - | 44,273 | 42,382 | |
| Other expenses | 6,418 | 108 | 6,526 | 2,773 | |
| Depreciation | 4,281 | - | 4,281 |
8,065 | |
| Independent examiner’s fees | - | 1,954 | 1,954 | 1,714 | |
| Trustees meeting expenses | 531 | - | 531 | - | |
| PAYE interest | - | 65 | 65 | 14 | |
| Bank charges | - | 182 |
182 | 193 | |
| National Citizens Advice fee | 5,625 | - | 5,625 | - | |
| Donation | 150 | - | 150 | - | |
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_______ |
_______ |
_______ |
||
| 340,841 | 2,309 | 343,150 | 330,929 | ||
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
5. EXPENDITURE - RESTRICTED
| EXPENDITURE- RESTRICTED | ||||
|---|---|---|---|---|
| Charitable | Other | |||
| Activities | Costs | |||
| 2023 | 2023 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Salaries | 115,918 | - | 115,918 | 127,463 |
| Training and travelling expenses | 1,766 | - | 1,766 | 1,411 |
| Office costs | 2,264 | - | 2,264 | 3,060 |
| Other expenses | 7,344 | - | 7,344 | 5,255 |
_______ |
_______ |
_______ |
_______ |
|
| 127,292 | - | 127,292 | 137,189 | |
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The charity holds public liability, professional indemnity and employee liability insurance, the cost of which is included in the above.
6. TOTAL RESOURCES EXPENDED
| Staff Costs | Depreciation | Other Costs | Total | Total | |
|---|---|---|---|---|---|
| £ | £ |
£ |
£ |
£ |
|
| Charitable activities | 366,144 | 4,281 |
97,708 |
468,133 | 466,197 |
| Other costs | - | - |
2,309 |
2,309 | 1,921 |
_______ |
_______ |
_______ |
_______ |
_______ |
|
| 366,144 | 4,281 | 100,017 |
470,442 | 468,118 | |
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|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Staff costs consist of: | |||||
| Wages and salaries | 336,841 | 335,893 | |||
| Social security costs | 20,635 | 19,935 | |||
| Other pension costs | 8,668 | 8,634 | |||
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||||
| 366,144 | 364,462 | ||||
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No employee earned £60,000 per annum or more. Pension costs are in respect of defined contribution schemes.
| No | No | |
|---|---|---|
| The average weekly number of employees was | 18 | 20 |
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|
| No trustee received remuneration. |
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted | Unrestricted Restricted | Total |
|
|---|---|---|---|
| Funds | Funds | Funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Income and endowments from | |||
| Charitable activities | 213,851 | 185,559 | 399,410 |
| Donations | 7,308 | - | 7,308 |
| UK Bank interest | 23 | - | 23 |
| Other income | 12,404 | 2,210 | 14,614 |
_______ |
_______ |
_______ |
|
| Total | 233,586 | 187,769 | 421,355 |
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|
| Expenditure on: | |||
| Charitable activities | 329,008 | 137,189 | 466,197 |
| Other costs | 1,921 | - | 1,921 |
_______ |
_______ |
_______ |
|
| Total | 330,929 | 137,189 | 468,118 |
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|
| Net income for the year | (97,343) | 50,580 | (46,763) |
| Transfers between Funds | 22,639 | (22,639) | - |
_______ |
_______ |
_______ |
|
| Net Movement in Funds | |||
| For the year | (74,704) | 27,941 | (46,763) |
| Balances brought forward at | |||
| 6 April 2021 | 375,171 | 8,383 | 383,554 |
_______ |
_______ |
_______ |
|
| Balances carried forward | |||
| at 31 March 2022 | 300,467 | 36,324 | 336,791 |
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
| 8. 9. |
TANGIBLE FIXED ASSETS Computer Furniture & Equipment Equipment Total £ £ £ Cost At 1 April 2022 36,529 15,820 52,349 Additions 2,180 - 2,180 Disposals - - - _____________________At 31 March 2023 38,709 15,820 54,529 ═════════════════════Depreciation At 1 April 2022 31,548 15,820 47,368 Charge for year 4,281 - 4,281 Re disposals - - - _____________________At 31 March 2023 35,829 15,820 51,649 ═════════════════════Net Book Value At 31 March 2023 2,880 - 2,880 ═════════════════════At 31 March 2022 4,981 - 4,981 ═════════════════════All fixed assets are used for charity purposes. CREDITORS– AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 £ £ Creditors 1,878 3,537 Accruals 1,954 1,709 Taxation and social security 7,765 7,130 Deferred income 24,166 13,846 ______________35,763 26,222 ══════════════ |
|---|---|
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
| 10. 11. |
FUNDS Balance at Movement in Resources Balance at 01.04.22 Incoming Outgoing Transfers 31.03.23 £ £ £ £ £ Restricted funds 36,324 179,020 (127,292) (58,736) 29,316 Designated funds 129,500 - - 20,000 149,500 Unrestricted funds 170,967 286,940 (343,150) 38,736 153,493 ___________________________________336,791 465,960 (470,442) - 332,309 ═══════════════════════════════════ANALYSING NET ASSETS BETWEEN FUNDS 2023 2022 Unrestricted Restricted Total Total Funds Funds Funds Funds £ £ £ £ Fund balances at 31 March 2023 are represented by: Tangible fixed assets 2,880 - 2,880 4,981 ════════════════════════════Current assets 335,876 29,316 365,192 358,032 Current liabilities (35,763) - (35,763) 26,222 ____________________________Net current assets 300,113 29,316 329,429 331,810 ════════════════════════════Total net assets 302,993 29,316 332,309 336,791 ════════════════════════════ |
|---|---|
Restricted funds represent grants received for projects, less expenses paid for direct charitable services and administration under the restrictions imposed for these grants.
Unrestricted funds noted above are unrestricted general funds, which represent the free funds of the charity which are not designated for a particular fund. The designated fund is a fund that has been designated by the trustees to cover future costs as follows:
| Balance at | Transfers | Balance at | |
|---|---|---|---|
| 01.04.22 | in year | 31.03.23 | |
| Immediate closure/running costs | 127,000 | - | 127,000 |
| IT & office | 2,500 | - | 2,500 |
| Premises provision reserve | - | 20,000 | 20,000 |
_______ |
_______ |
_______ |
|
| 129,500 | 20,000 | 149,500 | |
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CITIZENS ADVICE MID LINCOLNSHIRE
Notes to the Financial Statements for the year ended 31 March 2023 cont.
12. TRANSACTION WITH TRUSTEES
During the year trustees had travel expenses reimbursed of £NIL (2022 – £NIL).
13. JOINT VENTURE
Citizens Advice Mid Lincolnshire is a participant, with two other county Bureaux, in a joint venture, Citizens Advice Lincolnshire.
Citizens Advice Lincolnshire is a charitable company limited by guarantee, incorporated on 12 October 2012.
The Bureau received £68,911 (2022 £68,911) from the joint venture.
As at 31 March 2023 no amounts were due from/to Citizens Advice Lincolnshire.
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