Registered number: 05852220 Charity number: 1118465 EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guarantee) CONTENTS Page Reference and Administrative Details of the Company, its Trustees and Advisers Trustees. Report Trustees, Responsibilities Statement Indepondont Examiner's Report Statement of Financlal Activities 10 Balance Sheet 11- 12 Noto8 to the Financial Statements 13-24
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Llmited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mr N Conway. Chair (resigned 19h October 2023) Ms J G Wells, Chair fvlr l Allsop, Oeputy Chair Ms l J Bowen Ms N Goswami Mellor Ms D Lowry Mr S W Murray (signed 241h July 20241 Mr B Sarpal Mr R Bassett (resigned 51h July 20241 Ms V Manning-monro {appointed 19th October 2023) Company reglst•r•d number 05852220 Charlty reglstered number 1118465 Regl8t•red office Regus Epping The Civic Building 2n0 Floor 323 High Street Epping Essex CM16 4BZ Accountants Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL Bankern CAF 8ank Limited PO Box 289 Wesl Mailing Kent ME194TA Page I
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their Annual Report together with the Financial Statements of the Company for the year 1 April 2023 to 31 March 2024. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and Financial Stalements of the charitable company comply with the current statutory requirements, the requirements of the charitable company. governing document and Ihe provisions of the Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} (effective 1 January 2019) Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted The Charity also operates under the names Citizens Advice Epping Forest District. Objectives and Actlvltles a. Policies and Objectives The objectives of Citizens Advice Epping Forest District (the Charity) are to promote any charitable purpose for the public benefil of the community in the Epping Forest District and surrounding areas, by the advancement of education, the protection and preservation of health, and the relief of povety, si¢kness and distress. The charity provides a free, independent and impartial advice service to all people on their rights and responsibilities. It values diversity, promotes equality and ¢hallenges disGrimination.11 aims to provide the advice people need for the problems they face, and also to help improve the policies and practices that affect people's lives. The truslees have complied with their duty under section 4 of the Charities Act 2011 to have regard to the public benefit guidance published by the Charity Commission. The manner by which the truslees have delivered the charitable objectives for the public benefit is described below. Page 2
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achi8v8ments and Performance . Main Achlevements of the Company In 2023124 saSd we would: Continue to provide a full range of services to meet the needs of our clients and fulfil our public duties. As part of this commitment our goals were to.. Consistently achieve al least 70010 answered call rates on adVIlIne, even with rising client numbers. Pilot one new hub within one of the four super output areas within the district. Introducing a new fuel poverty team to provide energy advice and casework for clients struggling with the cost of heating their homes. Launching and growing the use of a dedicated website for clients to access advice and information. Develop a pilot to evaluate the impact of advice on people living with one of the Core 20+ health conditions to demonstrate the value of financial wellbeing on overall heallh. The effects of the cost of living crisis resulted in higher numbers of clients coming to us for advice and support. The key issues we dealtwith were benefits entitlements, housing and debt. In the year we supported 2,471 clients with 6,308 issues. This was a 130h increase on the number ofclients supported in the previous year. The financial impact for clients as a result of our advice was £1.3million. The telephone service continued to be the primary route to advice for our clients1450/0). However, a significant number of people contacted us through our email channel - with 26Vo of clients reaching us through this route. We expanded our in person oulreach support vnth the development of a new hub in Limes Farm, Chigwell. Togelher with the hubs in Waltham Abbey and Epping, 160/9 of clients were supported in person Our outreach services are partnership projects delivering advice alongside other organisalions who can provide holislic support to our clients - creating a "one slop" offer. We work alongside council teams from housing, revenue and benefits as well as community mental health teams and the Department of Work and Pensions staff. This means the key issues our clienls need support with can be dealt with in one place. With the rising costs in utilities, we trained a team of advisers to provide energy advice support to meet the growing need. In the year. we supported 69 people who were in, or at risk of, fuel poverty As a result of our comprehensive advice. we achieved ovef £96,000 of financial outcomes for these clients. We also worked with GP practices in the Waltham Abbey area to refer patients living with COPD to our hub to receive energy advice to ensure they could manage their additional energy needs and heat their homes. As well as providing advice to clients we also work to raise awareness of the issues people are dealing with and work in partnership within the community to ensure services are available to meet Iheir needs In the year we set out to,. Participate in two awareness raising campaigns linked to socio-economic inequalities within the District. Engage with external slakeholders and partners to ensure our charity is embedded in the community to the benefit of meeting our clients. needs holistically. Ensure staff and volunteers are supporte¢J to deliver services at a time of high demand and increasingly complex needs. Page 3
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Given the rising costs of living, we fo¢ussed our awareness raising a¢livilies to support campaigns related to financial wellbeing. We promoted Debt Awareness Week, Energy Advice Week and Talk Money Week through our services and social media aclivilies. Partnership work is critical to the success of our advice services as it enables us to provide a holistic advice service to clients to resolve their issues. Our team participates in local stakeholder meetings and events and our Chief Executive chairs the District Council's Socio Economic Action Group which feeds into the District, Wellbeing Strategy We also use the Frontline referral system lo both promote our services as well as receiving and making direct referrals lo partner organisations. This tool enables us lo share basic information about our clients, situation which means they don't have to cover the Same ground with different providers. It also enables us to see where our referrals are coming from which means we can forge stronger relationships with organisations that are working with clients that may need our independent advice Our staff and volunteer team has not been immune to the additional pressures of the cost of living crisis The increase in client numbers, coupled with the complexity of their issues can take its loll on our team. We therefore invested in a mental health first aid programme for all our team to help build resilience and provide them with tools to manage their own mental wellbeing, Even small charities have to work within governance frameworks We have lo comply with the standards set out by the Charity Commission, The Financial Conduct Authority, Advice Quality Standard, the Information Commissionerfs Office and the National Citizens Advice. This requires a committed board of trustees supported by a team of professional colleagues. During the year, we committed lo Maintain our Quality of Advice Standard through our annual National Citizens Advice audit proce8S. Undertake a review of our premises strategy and whether further efficiencies can be achieved within our operating budget. Ensure al least 500A of our income is achieved outside of our District grant Servlce Level Agreement. We are an independenl charity, with our own board of trustees and goveming articles. We are responsible for raising the funds needed to deliver our services We are grateful for the support of the District Council who provide us with a substantial annual grant, bul to meet the demand in the community we have to fun¢Jraise from a wide range of sources lo cover the costs of advice. Other funders in the year included West Essex ICB, Essex County Council, Loughlon Town Council and grants directed through the national Charity. Controlling cost$ is as irnportanl as raising income and in the year we undertook a review of our premises strategy The charity's $ervice$ are only operational 3 days a week and our in person support for clients is delivered through community outreaches. The use ofour premises in Epping was for administration only and was not being used to its capacity. With the rising costs of energy and other maintenance contracts, il was agreed the costs of maintaining such a large premises was not an effective use of funds and we took the decision to move to a small serviced office within the Civic building in Epping. Flnanclal Revlew a. Flnancial Position The resources of the chaflty were applied during the period to the provision of advice to individuals. The financial position as at 31 st March 2024 will allow the charity to continue its activities. The primary source of income for the charity is grants from public authorities - including county, district and town ¢oun¢ils. We have diversified our income to include funding from partners working in health and grants that support specific client needs such as fuel poverty. The trustees wish lo thank all our funding partners who generously supported us to maintain, and indeed grow. our services and ensure our governance structures are fit for purpose. Page 4
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income comes to the charity in Iwo main ways.. either w5thout restriction and available to be spent on Ihe day-to- day operation of the charity in meeting its objectives., or restricted where monies are used to deliver specific services or projects. The main cost of all operations is the salaries and overheads of paid staff. We ensure our staff are remunerated appropriately and introduced a pay and award policy to ensure salaries keep pace with inflationary pressures and that all pay and rewards are applied consistently and faidy. Risk Mana ement The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropnate controls are in place to provide reasonable assurance against fraud and error. The twstees continue to consider the major risks which may have a significant effect on operational performance (including risks to staff and volunteers) and achievement of the staled objectives During the year, trustees embarked on a review of the risk register and monitoring process to ensure our risk management procedures are embedded in all that we do and reflect the risks associated with achievement of our business objectives During the year, no days of service delivery were lost due to failure of systems. We did have an Employment Tribunal claim raised against us related to the transfer of our Help to Claim Contract to another provider. However, this was defended successfully. and the claim was not upheld. b. Reserves Policy The trustees review the reserves policy as part of the business planning and budgeting process and set the level of reserves that ensure the charity can continue to operate and meet the needs of clients in the event of unforeseen and potentially financially damaging circumstances arising. It has taken into consideration the reliability and continuance of future funding, timing of cash flows and working capital requirements, cover for unplanned emergency repairs and potential liabilities relating to slaff should there be closure of a particular activity. The board determined to continue lo hold sufficient reserves to cover essential expenditure needed to maintain the operating capacity of our local office. Development and investment (internall. This is an essential expenditure needed to maintain the operating capacity of our local office. We have aggregated amounls needed to spend on the ongoing renewal of IT to support the core advice delivery and maintain a hybrid staffing model and this comes to £5,000. The retention of three months operating costs to meet unexpected events (such as a significant loss of funding) The amount of reserves is Calculated from the annual operating budget (excluding salanes which are covered below) and amounts to £15.000. The retention of funds to cover the cost of payment in lieu of notice and redundancy for staff in the event of a crisis wind down of the charity The redundancy liability as at 31 $1 March 2024 amounted to £37,000. The reserves position will continue to be monitored and amended if appropriate to reflect any changes in funding cir¢umstan¢es. Page 5
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU {A Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 c Futuro Devolopmenls Our business plan for 2024125 locuses on meeting the continued demand for our advice services with professional leam of advisers. However, V also need to ensure we provide cost effective services as the funding environment becomes harder to navigate. As such our key areas for development are.. Maintaining our telephone first advice service as our pnmary channel for advice. Developing our volunteering strategy to provide a range of flexible volunteer opportunities to support our seNices and our infrastructure. Continue to develop our email advice channel to meet the grovrth in use of this access point by our clients. Work Yth partners to deliver hyper-local in person services in areas of highest deprivation. Achieve re-accreditation of our Quality Advice standard Continue to meet the demand for energy advice and foodbank and other charity referral¥. Continue to diversify and grow lundraising income to secure the future of our advice services. Work in partnership with stakeholders in the District to provide a holistic and seamless seiCe for our clients Maintain awareness of the charity and our services through continued awareness and campaigning aclivilies. Structure, Govornance and Managornent Governlng Document The charity is administered and managed subject to and in conformity with the provisions of the Memorandum and Articles of Association as amended in 2019. The charity is limited by guarantee and its operations are pnmarily the provision of advice to local citizens in need of help. The charity is a member of the National Association ol Citizens Advice. Appolntment of Board Membor• Trustees are appointed in one of the following manners.. elected at the AGM,. or by being co-opted by the Board. Certain outside organisations nominate representatives to attend meetings of the Board. Invostmont Pow•rs Investment decisions are taken by the Board. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Appr by ved by order of the members the board of TNstees on 12th November 2024 and signed on their behalf Ms J G Wells (Chair of Trustees) Page 6
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guardntee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees (who are also the directors of the Company for the purposes of company law) afe responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of Its incoming resources and application of re$our¢es. including its income and expenditure, for that period In prepanng these financial statements, the Trustees are required to, yelect suitable accounting policies and then apply them consistently, obSee the methods and principles of the Charities SORP IFRS 1021.. make judgments and accounting estimates Ihat are reasonable and prudent.. State whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy al any time the financial position of the Company and enable them lo ensure that the linancial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the Company and hence for taking reasonable steps for th8 prevention and detection of fraud and other irregularities. Approved by order of the members of the l)oard of Trustees on 121h November 2024 and signed on its behalf by.. J G Wells (Chair of Trustees) Page 7
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Llmlted by Guarantee INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to the Trustees of Epplng Fornst Dlstrlct Cltlzon8 Advlce Bureau I'the Company.) I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024 Re8ponslblliti08 and Basls of Report As the Trustees of the Company land it$ directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'i. 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 the Company's accounts Carried out under se¢tion 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 14515)Ib) of the 2011 Act Independent Examinerfs Statement Since the Company's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 A¢t. l ¢onfirm that l am qualified to undertake the examination because l am a member of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection wilh the examination giving me cause to believe.. accounting records were not kept in respect of Ihe Company as required by section 386 of the 2006 Act; or the accounts do not accord wrth those records.. or the accounts do not comply wth 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 conSided as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounling and reporting by Charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. 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. Page 8
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limitèd by Guarantee INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENOED 31 MARCH 2024 This report is made solely to the Company's Trustees, as a body, in accordance vnth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company, Trustees those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the lullest extent pemiitted by law. I do not accept or assume responsibility to anyone other tttan the Cornpany and the Company's Trustees as a body. for my work or for this report Signed.. 121h November 2024 P Thain FCCA Ha818r8 Chartered Accountants Old Station Road Loughton Essex IG10 4PL Page 9
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and grants 122,715 178,673 301,388 248. 154 Other trading activities 799 799 824 Investments 3,199 3.199 692 Other income 26 Total income Expenditure on: 122 715 182 673 305 388 249 696 Charitable activities 120,978 215,484 336,462 302, 363 Total expendlture 120 978 336 462 302 363 Net (oxpendituro)Ilncome 1,737 {32,811) (31,074) (52, 667) Tran$fef$ between funds 13 Net movement In funds Reconciliation of funds: Total funds brought fopward 248,343 248,343 301,010 Net movement in funds 1,737 (32,811 {31,074) (52, 667) Total funds carried forward The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 24 form part of these financial statements. Page 10
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guaranteo) REGISTERED NUMBER: 05852220 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Current assets Debtors 13,678 4,290 Cash at bank and in hand 253,398 274,407 267,076 278,697 Creditors.. amounts falling due wrthin one year 12 149,807) (30, 354) Not current a850ts 217,269 248,343 Total asset8 legs currnnt Ilabllltleg 217,269 248,343 Total net assets Charlty fund8 Restricted funds 13 1,737 Unrestricted funds 13 215,532 248,343 Totsl lund• 24a,34.3 Page I
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee REGISTERED NUMBER.. 05852220 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The Company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 01 Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 12lh November 2024 and signed on their behalf by.. Ms J G Wells (Chair of Trustees) The notes on pages 13 to 24 forni part of these financial statements Page 12
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Infomiation Epping Forest Dislnct Citizens Advice Bureau is a chantable organisation, registered in England and Wales, with a registration number 05852220. The address of the registered office is Regus Epping. The Civic Building. 2fiO Floor, 323 High Street, Epping, Essex CM16 48Z The principal objective of the charity is lo promote any chantable purpose for the public benefit of the community in the Epping Forest District and surrounding areas. by the advancemenl of education, the protection and preservation of health. and the relief of poverty, sickness and distress. Accounting policl 2.1 8asl8 of prnparatlon of flnanclal 8tatamonts The financial statements have been prepared in accordance with the Chanties SORP {FRS 102) - Accounting and Reporting by Charities Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Epping Forest Districl Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are inilially recognised at historical cost or transaction value unless othep*wse Slated in the relevant accounting policy. 2.2 Incom• All income is recognised once the Company has entitlement lo the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the penod is shovm in the relevant funds on the Balance Sheet. Where income is received In advance of enlillement of receipt, ils recognition is deferred and included in creditors as deferred income. Imiere entitlement occurs befo income is received. the Income Is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is cOgnised in the period in which it is receivable and to the extenl the goods have been provided or on completion of the service. 2.3 Exponditur• Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, rt is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated direGIIy to that activity Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistenl with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page 13
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.3 Expendlture Icontlnued Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.4 Debtorn Trade and other debtors are recognised al the settlement amounl after any trade discount offered. Prepayments are valued at Ihe amount prepaid net of any trade discounts due. 2.5 Cash at bank and In hand Cash al bank and in hand includes cash and short-term highly liquid investmenls with a short maturity of three months Of less from the date of acquisition or opening of the deposit or similar account, 2.6 Llabllltles and provl8lon8 Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debl or the amount it has received as advanced payment5 for the goods or services il must provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. ere the effect of the time value of money 1$ material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost 2.7 Flnanclal Instruments The Company only has financial assets and financial liabilities of a klnd Ihal qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 14
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Llmlt8d by Guarantoel NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles (contlnued 2.8 Fund accountlng General fLsnds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes Designated funds comprise unreslricled funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordarlce with specific reslriclions imposed by donors or which have been raised by the Company for particular purposes The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set oul in the notes lo the financial statements. Investment income. gains and losses are allocated to the appropriate fund. Income from donatlons and grants Restrlcted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Oonations 535 535 354 Grants 122,715 178,138 300,853 247. 800 Total 2023 9.8.08. 18.8.3.4.fi 248,154 Page 15
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other tradlng actlvltiès Income from non-charitable trading activities Unrestrlcted funds 2024 Total lund8 2024 Total funds 2023 Charity trading income- 100 Club 82.4. Total 2023 82.4 Inv•8tment Income Unrestrlcted fund8 2024 Totsl fund8 2024 Total lunds 2023 Investment income -.fi9 Total 2023 ..fi82 -692 Other Incomlng re8ourc•g Unrestrlcted funds 2024 Total funds 2024 Tolal funds 2023 Other income Tolal 2023 Page 16
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitablè activities Summary by fund type Restricted Unrestrictod funds funds 2024 2024 Total 2024 Total 2023 Expenditure Total 2023 Analysis of expondlturo by activities Activities undertaken directly 2024 Support costs 2024 Total nds 2024 Total funds 2023 Expenditure Total 2023 Analysis of direct costs Total funds 2024 Total funds 2023 Staff costs 216,227 207, 626 Other direct costs 32,390 28, 745 Page 17
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limitod by Guaranteo) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Analysis 018UPPOrt costs Total fund8 2024 Total funds 2023 Salary Costs 51,723 37,973 Staff Other costs 2,571 616 Repairs and Maintenance 1,438 1,997 Office Expenses 4,425 3, 746 Telephone and Communications 2,047 2,018 Computer Expenses 1,598 1,136 Insurance 1,602 1,685 Rent 10,149 7,200 Rates 659 1,149 Light and Heat 1,157 2,179 Audit, Legal and Professional 10,091 6,205 Other Expenses 385 88 Staff costs 2024 2023 Wages and salaries 267,951 245,599 245,59.9 The average number of persons employed by the Company during the year was as follows,, 2024 2023 No. Charitable purposes 11 io Management and administration of charity Page 18
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 No employee received remuneration amounting to more than £60,000 in either year. Pension Costs - Pension arrangements for employees is operated on a defined contributions basis and are open to all employees at any lime. The company contributes 6 /0 of pensionable earnings. The assets ofthe scheme are held separately from those ofthe company in schemes managed by Aviva and Standard Life The pension contributions shown in the year represent the contributions payable by the company. 10. Trustses. remuneration and expenses During the year, no Irustees received any remuneration or other benefits (2023- NIL). During the year ended 31 March 2024, no trustee expenses have been incurred (2023- NIL). 11. Debtors 2024 2023 Dua wlthln one year Other debtors 8,780 621 Prepayments and accrued income 4,898 3,669 12. Cr8dltors: Amounts falling due wlthln on8 year 2024 2023 Trade creditors 2,660 7,269 Other taxation and social secuflty 4,032 3, 034 Accruals and deferred income 43,115 26,057 Page 19
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13. Statoment of funds Statement of funds - current year Balance at 31 March 2024 Balanco at 1 April 2023 Transfers Inlout Income Expendltur• Unrnstrlcted fund• Deslgnated funds Property 20,000 120,000) Operations 18,000 13,0001 15,000 Redundancy 37,000 37,000 IT 5,000 5,000 80,000 (23,000) 57,000 General funds General Funds - all funds 21 Total Unrestrlcted funds 248,343 182,673 1215,484) 215,532 Restrlcted fund8 Cost Of Living 30,792 130,792) Waltham Abbey Outreach 47,932 147,932) Energy Advice Project 28,687 126,950) 1,737 Limes Farm Hub 15,304 115,304) 122,715 1120,978) 1,737 Total of funds Page 20
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Limited by Guardntee NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Purpose of Restrlcted funds Cost of Living Advice re¢eived funding from Essex County Council. to increase advisor hours to meet the significant growrth in client numbers due to the impact of the cost of living crisis. Waltham Abbey Outreach is a multi-agency advice and support hub supporting local residents experiencing poor financial and mental wellbeing CAEFD Is the lead partner for this programme which is delivered in conjunction with local stakeholders and cttarity partners The programme has also been supported by West Essex One Heallh partnership and the Epping Forest District Council. Energy Advlce Projoct received funding from the Nalional Citizens Advice to train a team of advisers who support people struggling to pay for their energy costs. Llmos Fami Outreach is a multi-agency hub supporting loul residents with issues primarily related to benefits, housing and debt. The project was funded by Epping FO$1 District Council. Purpo8• of Deslgnated funds Designated funds held are divided into three headings12023'. four), primarily to provide for the potential need to cover a reduction or withdrawal in funding resources where new sources of funding Cannot be found Amounls have been designated to provide for any salary and restructuring costs, against failure of vital IT or other equipment needin9 immediate repair or replacement and where the cost cannot be met from an in year budget Tr•n8fern between lund$ Revisions to the amounts designated in line with the reserve policy have been transferred from the unrestricted funds. Page21
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13. Statement of funds continued Statement of funds - prior yoar 88lance al 31 March 2023 8alance at I April 2022 Transfers in/out Income Expendrfure Unrestrlcted lunds Deslgnated funds Property(fomierfy Lease/Rates) 10,000 10,000 20,000 operatn5 18,000 18.000 Redund8ncy (incofj)oraling Salary) 20,000 17.000 37,000 Salary 20,000 (20,000) IT 5,000 5,000 50,000 30,000 80, 000 G•n•ral funds General Funds - 811 lunds 060 248 343 Re$trl¢ted lunds ECC COMF - Digilal resilience 692 (692) Wattham Abbey Oulreach 40,000 (45. 725) 5, 725 Kickstart 14,108 (12,778) (1,330) Multiply Project 692 59 808 5060 Total of funds Page 22
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14. Summary offunds Summary of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transforn Inlout Income Expendltur• Designated funds 80,000 (23,000) 67,000 General funds 168,343 182,673 (215,484) 23,000 158,532 Restricled funds 122,715 1120,978) 1,737 Summary of fund8- prlor year Balance al l April 2022 Transfer 8alance at in/out 31 March 2023 Income Expendrture Oesignated lunds 30,000 80, 000 General funds 250,318 189. 888 (236. 803) (35, 060) 168,343 Restricted funds 692 59.808 (65.560) 5,060 01.010 49.696 _13Ql.3.& -248,2_4 Page 23
EPPING FOREST DISTRICT CITIZENS ADVICE BUREAU (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15. Analy$FS of net assets between funds Analysis of net assets betwn funds - current year Rostricted Unrestrictod funds funds 2024 2024 Total funds 2024 Current assets 1,737 265,339 267,076 Creditors due within one year {37,708) (12.099) {49,8071 Total Analysis of net assets between funds - prlor year Restricted Unstricted funds funds 2023 2023 Total funds 2023 Current assets 278,697 278,697 Creditors due within one year (30.354) (30,354) Total 248,.343 24_8.l 16. Related party transactlons The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2024. Page 24