Charity reEistratiou number 1121I96 Company registration nuThber l)63170SJ (England **d Wales) BROXBOURNE CITIZENS ADVICE BUREAU ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR EISDED 31 MARCH 2022 IIIIIMIII •ABA￿6N* 1pJoer2022 cO￿pANIEs HOUSE #73 BROXBOURNE CITIZENS ADVICE BUREAU LEGALAND ADMINISTRATIVE INFORMATION Trustets D. Smith N. Thomas A. Clarke {App)inted 31 August 2021) Cbief Exetutive Off*et M. Bromyard ChY4rity Dumber 1121196 Company Dumb¢ 06317053 Principal addre&8 The Hub 275 H0]dbr￿k Court Holdiyook South Walthwn Cmss EN8 7SL Registered offict 28 Plumpton HOL Plumpton Road Hertfordshire ENII OLB IndepeDdeD¢ ex•rniner 28 PlumptsTrn House Plumplon Ro•J Hcrtford5hire ENII OLB B*ttkers HSBC 34 Broad Walk HaTIoiv CM20 IJA BROXBOURNE CITIZENS ADVICE BUREAU CONTENTS Tru5*el rep)rt Independent &xamir*$ rew)rt Statementof fir￿ncIal activities Balance $htei Notes to thc fLnanciaJ 5tstcmcnt5 9-17 BROXBOURNE CITIZENS ADVICE BUREAU TRUSTEES, REPORT UNCLUDING DIREcfoKs' REPORT) FOR THE YEAR ENDED 31 MARCH 2022 The trustccs pre5tnt their annual rc4KYt and financial staternt￿ts forthe year en￿ 31 March 2022. The financial statements hav¢ been prep3re4 IEJ a¢cordanr¢ with tht accounting rA)licie5 5Ct out in note I to the financial statem￿tS and comply with tht charity's memorandLLm and articles of association, the Companies Act 2(X)6 ar "Accounting and Rewrting by Charities.. Stxternent of Recommcnded Pradicc applicable to charitie5 pr¢paring their ac¢ounts in accordance with thc Financial R4￿ing Stsndard aFvlicable in the UK and Republic of Jrtland IFRS 102}" (a5 amended for a￿OUntIng periods ￿Mm￿¢7ftg l J•wary 2016) Objectives *•d *¢tivitxs Th¢ tharity's obj¢rt5 are to promotc any charitable purwse for the public F*nefJt by the advancement of education, the prottciion and presejvatton of health and the telief of w>verty. sickn¢s5 and dIStr￿S in pdrticular, but without litni¢a¢ion, for the kD¢fit tsf the community in Broxbourne and 5wrounding area8. Wision.. The charity seeks a future where the residents of B¥oxb)wne *¢ well informed snd sufficiendy wnfidtnt to oddress theirown adw¢e needs and without the for third party advocxy or rewe5￿18t10Th. Mission.. The ¢h&rity provides frt< Inde￿[￿je￿L confidetrtial and impdrtiaj ￿VIce and advow to the residents of BroxErf>urne. The trustees hav¢ paid du¢ regard ￿ 8uidan¢¢ issued by the Ch*ity Commission in decid5tsg what ¥tiviii¢s the ¢h8rity should undertake. Achlevtments And perfOr￿a￿¢t Ciiizens Advice BrnxFMTrurne continued to deliver supm and advite to the reSid￿ts of Bmxtr￿u￿t. Hoddesdort, Chtshunt and Waltham CTOSS. Ai the start of the year, we wert delivering advice by ielephone tsnly. due to ¢ontinuing Covid re5triction5 and the lack of 5Uitable prernises. In May. we moved into new premise5 at the Holdbrwk Hub in Waliham Cross. provided free of charge by our fLmder and p￿tTh￿ B3Living. The Hub is very well 4)winted and pn)vides lls with a base right in th¢ heart of the community in a ward whtte we have rnany clients in need ofour supporL and we are very grateful to B3Livin8 for this facility. As the year [￿￿ed. w¢ cau(iously steps to open up the Hub for face-to-fac¢ eli¢ni appointsnents, and in March we resthrt¢d an OLEtT¢a¢h for ra￿t0•face advicc at the WoJTnley Community Centre, in partnership ivith Wowmley and Tumford Big Lo￿] (WtBL). This h*J previously been closed due to Covid. We have been operatllJ8 this outreach a trial b&sis to 8au8e demand and have w( in a joint furtding bid ivith wfBL to coniinue the s¢rvir£ in th¢ next yw. We h&ve plan5 to o￿n a Similar Wtrrach in Hryjdcsdon. In Febnjary, w¢ moY¢d all our 3dvi%rs on tts th¢ national Citizen5 Advice ttl¢pF¥)n¢ platforn Advi¢elin¢, using a dedicated freephone number for Broxb)umc residents. This impTovcd ac£ess io our service be£au5e outside the hour5 Work￿ by our advisers, C￿[$ tan be answered ort the same number by other I(￿] Citizens Advic¢ offi¢es or the national backtsp eentres. Clients may receive immediate help. but if ih¢y need Iwaj advice they are referred on to us for a call back. Sorne of our advisers also take calls for Oth￿ Ciiizens Advkce office5 and w¢ prticipate in wnses to emails in the national queue, as part of our Citizeffj Advi¢e ￿em￿r$hip commitsnenL Although ihe rnajorkty of our advice c(pntirtues LO ￿ delivered by telcphonc. we Can prnvide face-to-face advice where this is ntded. and thanks to funding the Nationaj Lollery Awards for All. we will trK developing other channels. in¢ludin8 vid¢0 And ¢mail advi¢¢, over th¢ n¢xi ye8r. Personnel The organisaiion coounues to be l¢d by an 3¢tive tnjstee board ivhich holds bi•mo#thly medings. Following her resignation in January 2021, CEO Jo O'Boyle Itft our employment at the end of April 2021. At the time, we were actively Seeking to merge citi￿￿$ Advice BroxlyM]rne with awther Hertfordthir¢ L￿al Citiz¢n5 Advir¢ (LCAI. CAtitttss Advice appointed a Straie8ic Changc Consultant to as5i5t us through thc procw. We apr￿ached three LCA5 ID totsl. and had some v d¢tail¢d m¢¢ting8 but ultimat¢ly no suc£ess. The tru4ee i*)ard met to ci)nsider our owions and thided that ive would need a CEO for a minimum of four days per week ID fvlfil the Tole cffcctively. However. wc were *uteJy awaTe that our CO￿ funding level would not support this and we were rcludattt at the time to use our rtserva. BROXBOURNE CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YE4R ENDED 31 NL4RCH 2022 In May w¢ made contsrt with BroxlxJU￿* Borou8h COU￿11 and wese 8iven the Op￿EbJ￿Ity to preseTht our foTh¥ard 5trate8y and outputs. We met virfuajly with Jeff Stack. CEO, and Sandra B¢¢k, Director of Finance. Our aim was to $eCUTe additional £x)re fut)thn8 in the re8iOA of £SO,000 per annum to enable us lo recruit a new CEO. Unfortunately, the Couneil w¢r¢ unablr lo rnake that commitrnenL but did 3gr¢¢ to our other suggestion of part-funding a Business D¢Velopm￿t Mana8er IBDMI wth additional fimdin8 of £40,OLM) ovu 18 months. Karyn Jone5 ivas app)inted a5 our BDM and started work with us in Sept¢mkr. With Th) immedia* replacement for the CEO. the de¢i$ion was tsken by the Board to form a three-w8y seoior management team to lead the operational aaivity and plan for the future. The (earn corLSi5ted of Gillie White, Charity Advice and Operations Manager. M￿1n¢ Bromyard Clwity Business Manager and Neil Thom￿ Chair. Cilizens Advice Broxbourne continued to fijnction well during this ￿riod with outputs improving and the numbers of clients incrt45ing. To prepare lor the future, we needed kn UFdate OUT Strate8ic plan. We were assisted in thi5 task by the Strate8ic Chanse Consultant from Citizens Advice. We held an "away day" ai the Hub in Waltham Cross durLII8 Noweml*r, irtcluding the trustee knTd and repre5cntatiVe5 from volunteers and paid staff. The day wa5 well stnKtured. with inputs from everyone. The oUt￿t was a four-p)int plan for the nexr three years focusing on the four comernones of service delivery, fund raising, gov¢rnanc¢ and equality and div¢T5ity. Tht plaJL ha5 t¢en CTY4fttd inlo & docu￿￿1 that is publi5hd on our web5jte and revisited in sections at each Board meetin8. In January, the Board mel to consider tht next stage in OUT deveiopmenL Wrth reference to thc strategic plan, we decided to recruLt internally For a new CEO on a J2 month e4)ntract. This was in no small way due to the success Karyn had in securing extra fi]ndin& whi¢h in¢r¢ased ¢tsnfideno in futwe bids. Th¢ Bowd apFxov¢d the use of sorne of the reserv￿ to k u5cd in the event that the Projected fvnd5 didn'i Matu]￿lse. M&Yine Bromyard w&$ appointed a5 our new CEO and commenced her dutses in February. Covernantt At the end of 2021 Citizens Advice BroxiKX￿n¢ ¢arri¢d out a leadership self-ass¢ssm¢n¢ (LSA) exercise. Thi5 is a requirement of our membership of national Citiztns Advice. 11 consists of a rigorous audit that examines nint different are&s of leadership artd helps the trustees to m￿tsTe how well thry, and the o￿aniSatIOn are wfomiing. It also ide#tifies where improvements can be introdu¢ed. This ytsr the LSA w4$ in Year 2 of a 3-year ¢y¢le and consiste41 tsf a telephone rcvicw followin8 ihe Submission of reports compiled by the senior marta8em￿t tram and Board. The assessmeni w&s good Ove￿1. but updates ivere reqlli￿ irt Nvo spttifie areas. These were addrew41 and following an addititsnal ¢all, Cilizens Advice BToxbJurne 5COTed ycllow in P￿th Lc4dttship and Equality Lethrship. indicating that we had fully met the standard and are passp)rted 10 external quality marks. Advice Giviog In the year ￿ 31 Mareh 2022, CA BroxlM)urne delivered free, inthrthdenL imp￿la1 and confJdthLial advice and casework Suptort to 1,802 clicnts. Thi$ entailcd dealing with 5.(K)6 scwJrdte issue5. The ser¥ict is quality a55urcd and advice h& been 8iven on mat)y topics, mainly housin8, deb4 knefit and cmjiw universal credii financial services and capability, r¢latstsnships and farnily. legal advice. h¢a]th apd S￿181 ¢3r< ts)nsumeT and immigrtion. The provision of such *dviee has generated a financial benefit of approaehin8 £1.545,IXM> to Broxknurne residents. Prineipal Funding Source5 The major sources of fiJndirt8 durin8 2021-2022 for the i)perdtI(￿ of CitittnsAdvice Broxlx)ume are Broxbourne Coun¢il, B3Living. Hertfordshire County Council (Crisi5 Prevention via the Hcrtfordshirc Citizen5 Advice Service HCASI. the Monry and Pertsion Servi¢¢ {MaPS}. Citizws Advi¢¢ for Help to Cloim, and the Postrode Plxes Trusi to all of whom we are extremely grateful. We wtre very thanktiil to be chosen by the Rotary Club ot" Stort Valley. along with the other rrine Hertfordshire LLA5 and Hertford4hire Hospices, as the bett¢fKiaries of their H¢lping He￿ fiLndraising initiative. We enjoyed the fuDdr3ising activitl¢s, particulaTIy OUT SP)n50Ttd which w&$ Ofganised by In￿£¢ Annie C1￿ke and 5UFPJrtcd by Morrisons ple and the Deputy Mayor. We re¢¢iv¢d a totsi of £10,450. whi¢h will be US￿ duting 2022-2023 ￿ ith¢rease our opentrig IKJurs for 2dvi¢e $0 we can help mort l¢xal people. During the ye&r. were sorne chan8e5 to the trusttt In July. Trtawrer Marlene Mandat resigned, and she w&8 replaced in Augu$1 by new Treasurer Sajad Mar￿￿Or. In Mar¢h 2022. Luke Newrnan. who had served for alm05t two years. r&signed. Active recnjitment Is on801ft8 for new ￿5*¢$ w de¥¢lop the tKwd'5 LXPaCLty. BROXBOURNE CITIZENS ADVICE BUREAU TRUSTEES, REpoi¥f (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 h£4RCH2022 A hu8e thank5 8¢XS out to each aNI ¢v¢ry on¢ of our stsff and volwjtem WIKJ Q)ntinu¢ to give so mu¢h time and dedicatio ¢0 d¢Jivery of o quality service for the pwile orBroxl￿Me. Financial r¢view Income increased from £215,897 in the Y￿ ￿ 31 Mareh 2021 ￿ £232,848. Shtsrt-ierm fvnding to assist through the Covid pandemi¢ in 2020-21 ertded and was partly rcpl*cd by additional fvnding from HcrtfordshiTC County Council throu8h HCAS to help clients through the Covid recovery penod, pwticularly durin8 the winier months. The key irterwe was the BDM grartt from BroxtN)Lhrne Bomugh Coun¢il. and with Karyn Jones in we se¢ur¢d £27.WO of which we are carying fon¥ard around £22.000 ¢0 complete the projects we havc srarted with these funds. As well 8$ £30,000 u)re fi￿din& the £20.000 BDM gr*nt and a fiErther £7.5￿ Covid Recovery 8fdnt from BmxFA)urne Borough Council. the charity receiv￿ income from the Winter GT2nt Fwid via HCAS, B3Livin& Hertfordshire Courtty Council Crisis Prevention Ivta HCAS). Citizens Advie¢ (Help w Claim UnivcTsal CrediL ond MaPS debt advice), the Police and Crime Commissioner, Hertfor(tshire Cornmunity FounthtiTrs the Postcode Places Trust a￿￿ ihe National Lottay Awards forAII. Expenditure tothlltd £190.53 1 in Ihe year 10 3 1 March 2022 ￿mPared ￿ £170,738 for the previous year, the increase primarily du¢ io the employment of the BDM from September and a full of ttnployment under the MaPS debt advice proje¢t for our debt ¢rnirtee. offset by reduced spmding on infrastructs1￿ following the Covid rwt¢ workin8 setup period. As a r¢sul¢ of in¢om¢ ¢x¢¢gJing expen¢thtswe. fiEnd balan¢e$ illLYea5ed by £42.317 to £2029)5 in the ye4rto 31 March 2022. The tnjstees have detemiint4 ￿ retain a minimum level of res￿¢$ ￿ med unexkvted evthts (such as a signif)¢ant loss of funding). Th¢ amount of reserv¢5 has E¢¢n cJlculated as a PTOP)rtion to cover r￿tructur¢ and redundancy costs and thc F￿ainin8 amount to maintsin the seRvJce &$ 3 80in8 concern whilt arvlyin8 foff replacemtnt fundin8. The truste¥ conside thai a level of between 4 and 6 months of operatinB tosw b85¢d OD the av¢Age monthly expenditure ID th¢ 2021-22 a¢counts. should be held in reserve. The ca]eulation of ￿serveS 1$ after ¢k5]g￿ting funds forthe following purFose5: CEO SaJary- the Core fundin8 does not suprA)rt the tmployment of a CEO. a ￿ considcred essential to lead the service and deliver the strategic plan. A gnnt application h&$ therefo￿ been made ￿]1 a tsision 1$ not tspe¢ted witil Octob¢r 2022. In the interim, £20,0(L> of rescrve5 has bcen designa￿ to fund the CEO'5 salory from April 2022. People inveS￿ent - in order for the setvice u) increase capacity and thke on new Projects through successfvl fundin8 applications, investmenr 15 needed in P)Sts LO SUPW¥rt the increased requiremertt for tock oifirt functions such operation5, administration and HR managemtni. This fund will ensure that these new ￿sts can be filled gnd provide a 501id foundation for the service to grow. Trustees have designated £20,(KKJ lor this ￿nd. lrtfrastTU¢ture investment- Thi5 15 es5ClItTal eXpffiditt￿e io supwrt our growing infraStrU¢ftt￿ as we t&keon new Fwjects. It includey investment in new offjce wemises and IT infr&%truth. We have desi8nated £15,(*￿* for thÉs fijnd. The highcT res¢ryes p)li¢y figure at 31st MaTrh 2022. iwed on averdge monthly ¢xp¥)diDJre in 2021-22. equates to £95.268. At the same datt. 8eneral unrestricted tunds were £114.739. Subtracting Ihe fixed asseL8 of £6,241 8ive5 net UllTestri¢trd resetwes of £108.498 which ex¢¢as the hi8h¢r reserye5 p)li¢y by around 14Y•. Trust￿5 consideT this is acctptable in the fa¢e of ¢ontinuing uncertainty ovw futwe l¢vels of core fundin& Aside from retaining ￿Serves eath ycar. rn0￿ of the ¢hority'S fimds are 5F¢nt ¢)n its ¢haritsbl¢ aims and thert are no fvnds for long term tnve5tmeTht. Cash flows are woactively managed to maximise the benefjt of short and medium ￿mi interest The chaTity has a risk mana8¢meo¢ stTOtw which comprise5 Of: li) An annual review of risks ivhich the charity may h3vc to face. (li} The establishment of systems and proce41ures to mitigate th(v risks- and (iiil The implementation of kYocedure5 designal to ort ajjd minim1￿ any ￿￿118[ imFAtt on th¢ tharity thould any of those risks materialise. Structurei goverTh¥DC¢ xnd m*Dagement The thaTity is a recognised charity and is a wmFMny limited by guarantee. BROXBOURNE CITIZENS ADVICE BUREAU TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 hlARCH 2022 The trastees, who are also the directors for the puryw of company law. arKI who seTvtyJ during the ye4r and up to the date of signature of the financial ststements were.. D. SJDith N. Thomas A. C13Tke S. Manzoor L. Newman (AFP)inted 31 2021) (R¢S1￿¢d 29 Mar¢h 2022) The charity confornis to the Citizens Advice n*ional service rttruitmen( rffrttss and newly elected Iru5tecs attend inductiort training offered by Cilizcns Advice and thereafter tre actively encounged to an¢nd fvrth¢r trnining s¢ssiorts. They are a]so en¢oura8ed ￿ attend and particl￿e in the national AGM and other fonllns ¥¥hett they c4n tske p¥t in discussi￿5 8Fx)ut the dirrdion of the 5wic¢ nationally. All serving trusttts are required to declare actual or TX)ttnt131 Conflicts of intcrcst. Record5 of these are maintained by the ¢ompany setretary. Skill$ audits of the Board are rtglllarly tarried out to ensure that the Board continues io mairttain and develop the necessary knowled8e and experience required to effeaively fulfil its legal and strategic functions. Th¢ ¢harity is gov¢rnd by a Board of Tnst¢es whi¢h f(pm)aily mttts regularly during th¢ year and also communicated by email, with decisions Atified by full Eoard meetings. There is ￿$0 an exe¢utive ¢4)mmitt¢e 10 SUPP)rt the str*¢gic maT￿ement of the charity. The Chicf Executive Offjcer of the organisation 15 ap￿)rtted by the trusttt5 to manage the d&Y4(￿Y O￿TatiOnS of the charity. The Chief Execytiv¢ Officer's pay is set and yeviewed by the tnjstre tK*rd. usin8 a tr*nchmark agairtst pay levels tn other L¢¢al Cilizens AdI￿¢t offices of a similar siz¢ across the DeThvork. The Current Chief Exe¢utive Officer is M. Bromyard. port was aFpmved by the Bo¥d of Trtts*es. N.Th Trustee Date: .......... BROXBOURNE CITIZENS ADVICE BUREAU INDEPENDENT EXAMINER'S REpoi¥r TO THE TRUSTEES OF BROXBOURNE C￿1ZENs ADVICE BUREAU I rerK*rt w the trustees rm my examination of the financial st&tern￿ts of BroXl￿￿￿ CitizensAdvice Bureau (the ¢harityl for the year ended 3 l March 2022. R¢s￿)n51b]ll11es and basi5 of report A$ the tNstees of the charity (and 2150 lis directors for the puryx)ses of company law) you are rtsp)nsiblc for the preparation of tht financial statements in accordance with the requirements of the CornpaniesA¢t 2Tr)6 (the 2Tr)6 Atil. Havin8 satisfied myself th* the fjnartcial statements of the charity are not required to bt audited utth Part 16 of tht 2006 Act and tre eligible for indqKndeni Gxaminalion. J rew)rt in respect of my examination of the charity's fingncial statements Carried out under section 145 of the Chanties Act 2011 (the 2011 A¢t). lrt ¢anyiDg out my ¢xamination I have followed all the applicable Directions ￿¥¢￿ by the Charity CommissioN unts section 145(5Xb) of thc 201 I ACL Inde￿￿￿ett¢ ¢x*min¢r'$ $l¥t¢m¢tsi J have compl¢ted my uamin3tsOD. l a¥nfJnn that Th) matt¢ts have rome lo my altcnllon in ronn￿tion with the ￿aMInatiOn ving me cause to believe that in any matcrial re5rKct'. accounting Tecord5 Were not ke0 in re5r*ct of the tharity as requirtij by ￿tIOn 386 of the 2(%>6AcL or thc financial statements th) not accord with thosc records: or the fJn¥ncial statem￿ts do not comply with the ac¢oun¢in8 rquirernents of section 396 of the 2006 Act other than sny requirement that the accounts 8ive a and fair view whi¢h is mot a m4tef ￿tI$l4￿￿] &5 part of an independent ¢x3mirtaiion' the finan¢5al stsiements hav¢ Mi been prelwul in a¢¢orduKC with the rnethoth And pritt¢iples of the Stsiement of Kr￿mmended Practice for accoun¢ing and rqyNthng by charities ar4)lic4ble to charities preparing thcir accounts in aco)rdartc¢ with the Firtartcia] Re¥￿ing Standard applicable in the UK and Republi¢ of Ir¢land (FRS 102). I have tKJ concerns and have come across M othu matters in u)nrte¢tiM with the examin¥ion to which attention should be drawn in this rtp)rt in order ¢0 enable 8 undern￿￿8 of the financial 5tatm¢nts to be r￿h￿. HB At¢ountAnt$ 28 Plumpton House Plumpion Road Hoddesdon Hertfor(tshire EN) I OLB Dated.. BROXBOURNE CITIZENS ADVICE BUREAU . STATEMENT OF FINANCIAL AcrIvrriLs INCLUDING INCOME AND EXPENDITiJRE ACCOUNT FOR THE YE4R ENDED 31 MARCH 2022 Current fiDaDei41 year Unrtstrirtexj Uurestrirt¢d Restri¢¢¢d fund$ funds Cuuds dulg￿ted 2022 Tot•1 Tot•1 2022 2022 2022 2021 Donations and le8acies Charitable acltviiies Investments Other inlttyme 10.457 73,121 23 10,457 222J68 23 7,403 208,431 44 19 149247 To¢#1 ineomt 149247 232,848 215,897 e￿￿lI￿r* on- Charitable activities 43, 147.071 190.531 170.738 Incomlng resollrces btforn tr*nsftrs 40.141 2.176 42317 45.159 incomlng resollttes befoTr transfers 40.141 2,176 42,317 45.159 Gross trnnsfers betwcen fvnds (36.935) 25,( 11.935 Net Incomt for tht yvdrl Net movement ID 321JS 25, 42.317 45,159 Fund bolan¢¢s at i April 2021 111.533 30,IKXJ 19.055 160,588 115,429 Fund balltttu ¥t 31 M#r¢h 2022 114.739 55.IXXJ 33,166 202.905 160,588 The Statement of fjnanciai aaivitics Ir￿l￿deS all 8airLry and losses re0)￿]￿3 in the year. All income and expenditurt derive frorn continuing x*ivitie5. The ststem¢nt of fiDan¢i¥l activities also wnplia with th¢ r¢qUlrtrnt￿ts for an income and expenditure account under the CompanicsAct 2￿. BROXBOURNE CITIZENS ADVICE BUREAU STATEMENT OF FINANcIALA￿[vITlEs {coNfiNUED) INCLUDING INCOME AND EXPENDrruRE ACCO FOR THE YEAR ENDED 31 MARCH2022 Prior financial year Uarestricted Unrestricted Restricted fuDd5 fuDd5 fund5 de5iEnated 2(121 Total 2011 2021 2021 r4otes Income and eDdowmtDt from. Donations and l¢gacies Charitable activities Investmertrs Other income 6,1￿) . 44,750 1213 163,681 7,403 208,431 19 19 Total income 5 1.¢N)3 164.894 215.897 Charitable ¥tivitie$ 14.121 156,617 170.738 Net Incomwg resotsrces befort transfers 36.882 8277 45.159 Gr05s transftrs betwetn funds (10.778) 10.778 Ntt income for the yearl Net movement in funds 26.104 19.055 45,159 Fund balaDc¢s ot l April 2020 BS.429 30,0(KJ 115.429 bgl•wt¢s #t 31 M•rtlJ 2021 111.533 30,orK) 19,055 160.588 BROXBOURNE CITIZENS ADVICE BUREAU BALANCE SHEET ASA T31 I￿RcH2o22 2021 2021 Nrf¢s Fixed assets Tangible assets 6241 7,892 Current 85$ets Debtors Cash at bank and in hand 12 12.396 I93,￿7 41.064 130,265 206,303 171,329 CreditOTS- #mounts falliug due wfjtbin oo* year 13 (9.639) (18.633) Net wrenl &wtS 196.664 152,696 Th¢al assets le55 eurreDt liabilities 202.905 160.588 Jo¢ome funds Restri¢ted funds nrestricted fun Desig]iated funds General ￿n￿Stricted fvnds 14 33,166 19,055 Is 55.( 114,739 30,000 169.739 141,533 202.905 160.588 The company is entitled io the eXeM￿lOn from the audit requirement COThtsjn￿ in section 477 of the Companies Act 2006, ror the year ended )1 March 2022. The direc￿r$ acknowled8e their resrx)nsibilities for complyin8 Wtth th¢ rquirements of the Companies Act 2(K16 wth rc5p¢cI to accounting r¢wTds and thc wcparJtion of fiThaDciaJ s¢atuncnts. The Mem￿r5 have Th)t rfquired the (ompany to oirfain an audit of its firwi¢i¥J tst¢mcnts for the yr4r in question in accordance with section 476. These financial statements have F*en prepared in ￿cord￿￿ whth the prtsvision5 8ppli¢able to companie5 subject to the small companies regime. efl ancia Statements were approved by the Tn￿¢¢8 on .. Trust Comp8ny r¢gistr*tiou uuThber063170S3 BROXBOURNE crnzENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MARCH2022 Actounting polieies Charity iDfoTrnalioD Broxtroumc Citizens Advice Bureau is a pyivatc cornpany limiied by guardntte incorwratcd in EnBJand and W8lts. Aeeounting Co￿ven￿O The fin2rteial statements have be•x prepred in a¢c4Ydancc wth the chaT¥tys *rti¢les of associatiot), the Companies Act 2006 and "Accounting and Retx>rting by Ch￿itIeS.. Statrment of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Finarteiai R¢porfing Stsndard applirable itj th¢ UK and Republic or Ireland (FRS 102)" {a5 amended for accounting FfriOLis commencing from l January 2016). The charity is a Public Bentfii Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applyin8 FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The fjnancial statements are Prepared in sttrlin& which is the filnctional C￿r￿CY of the charity. Monetsry amounts in these finoncial statemen¢S ¥e rounded to the neaTest£. The fin#JJciaJ thtements have been Wep￿￿j undu the histori￿1 a)st convenuon. The principal accounting ￿liCIeS adopted are set out ￿lOw. ia Coing eODtern Ai the tirne tsf opproving the finonriol st•temen￿ the trustees have YA reasonablc cxpcctation that the charity h&8 adequate resource5 u) continue in ormtional existence fot the foreseeable fvDJre. Thus the tnts5tees continue to adopi the 80in8 concem basis of accouniing in prepann8 the financial skternents. IJ Charitable funds Unrestricted funds are available for use at the discretion of the trustees in fvrthennct of thtir charitable objective5. Rtsiricled fund5 art 5ubjcct to 5pccifJc c4)nditions by ¢J)nors to h)w they may be used. The PUTW and u5¢5 of the restricted funds are sei out in the Mte5 to the financial swements. Endowment funds are subittt to sittific corKlition5 by dotyys that the capittl mLL5t t¢ maintained by the charity. Income 15 rwised wht4L the charity is 1¢83Jly ￿titled ￿ it after any [￿orManCe conditions have iwi meL the amounts can ￿ mtssured reliably, and it is tmtrAble that inrfjrtje will b¢ rtteival. Donations are rcco8nised once the charity ha5 Fttn ￿Lif7ed of the donation, unless ￿rOMIance conditLon5 rquire deferral tsf the amount. In¢orne tsx r¢¢overable in relation to th)nation5 rffelved under Gift Aid is re¢ognised ot the time of the donation. 1.5 Expenditure Expenditure is accoun￿ for on an xuua15 EA5L5. 1.6 TaDgible fixed *55¢ts Tangible fixed assets aTe initially measu￿1 * cost and subscquently measured at cost or valuation, net of depre¢iaiion a￿1 any impainntnt losses. Dq)Teciaiion is r¢¢o8nised so as w writ¢ off the o)st or valuation of assets less their rtsidual values over iheir us¢fiJl lives on the following bases= Fixtures and fittings 33% ￿th¢ing bolan¢t BROXBOURNE CITIZENS ADVICE BUREAU NOTES TO THE ￿NANCIAL STATEMENTS (CONTINUED) FOR THE YE4R ENDED 31 MARCH2022 Ateourtting polieies (toffjtlty¥ed) The gain or loss arising on the disposal of an assd is deL¢miithed as the difference tthveen th¢ sal¢ proceeds and the carryin8 value of the &8seL gnd 15 rcco8nised in the staterntnt of finan￿al activities. 1.7 Impairnient of flled 855ets At e&h reporting end d3t¢. the rharity revie1￿ the carying *nouThts of ILS tangible &%sets to de*rmine Mthether there is any indication that those &%sets have 5uffercd an imwdiThCmt loss. Jf any such indi￿tion exists. the Teeoverdble amount of the &set is estirnoted in order to dd¢mine the ekneot of the tmpainnertl lo$$ (if any}. 1.8 Cish and oa$h equlvalents C&%h and wh equivalents irKlude in l*nd. dwits held at ￿]1 with bank& other short-tCTm liquid investments with origina] rnaturiti¢s of thre¢ months or l¢54 ¥od baok ovtsthatts. Bat)k ov¢rdralts Show￿ within bom)wings in current liabiliiie5. 1.9 FID#nt141 itt$trum¢nts The charity h&$ eltcttd to apply the tmvisions of Sectton I I 'Ba5ic Financi￿ Instrumcnts. and Section 12 '0thu Finan¢ial Instrwn¢nts Issues. of FRS 102 to ajl of its finan¢ial instwm¢nts. Finanthal instruments are I￿gnised in th¢ tharitys tAlance sheet th the charity F*comes party to the contractua] provisions of th¢ it￿trUmenL Financial ￿ets and li3biliiiw ale offs¢L the net amourtts prtsented in t]* financia] staiemenLS, when th¢ff is a legally enforcc4ble right to set off the recognised arnounts artd thff¢ is an int￿tIOn to settle a nel ba5rs or to reali the and vttie the liability sÈmultaneously. B41è¢fin4n5es'. Movement ill funds Resour¢e5 nsources expended Bala•ce at I Aprll 2•21 Tr*D5fen Balance *t 31 MAreh 202Z B3Living Crisis Pr¢vention Covid Recovery Help to Clatm Scams Awareness Money ar)d P¢nsiotts S¢rvi¢e BEIS Equipm¢nt Vaccirte Inequality Fuel Top-tsps Awards forAII Postcoth Plac&s Tnw BOB Covid 2.414 5.014 9.063 15,0 28,034 125.222) 130201) (6,829) {18.586) 7.808 2,847 2.234 18,088 41.436 {44.494) {1.005) {5.509) (2.¢KKI) (2.133) (3.530) (7.562) 3,058 ,559 5.OlY) 5LYJ 9.412 17.777 7.5￿j 7.279 14.247 62 19.055 149.247 (147.071) 11.935 33.166 Where any re5trided furMIs ue ne￿￿1vE these bajances are transferred w 8Jeral fvnds. 15- BROXBOURNE CITIZENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 h£4RCH2022 14 Restricted (£￿tin￿ed) The purrKJ5e5 for which restricted funds are held are as follow5.' Crisis Prtv¢nlion.' To provid¢ short-temi t3ilor¢d Sup￿rt to Broxi￿1￿¢ yesidenLS facin8 ¢risis siThJations. Awards forAII.. Projecl to deliver new website and &ssociated email and video advice. Postcodc Places Trust.. Proje¢¢ to pmvidr g¢rJern]is¢ advice. ScamsAwartness." To provide awarenes5 of scams. Covid Recovery.. The fund represents the nd iKKbk Val￿ of ofTt¢e equipment wr¢ha￿l uttder this PToje¢t. BEIS Equipmeni.. The fund represents the net FxM>k value of office equipment PUrch￿td under thi5 project. 15 Designated f•nd$ The income funds of tht charity includc the followin8 d&s18T￿ fiJThJs which have been set aside out of ￿n￿striCted funds by the tNstrts for sptcifi¢ purp)s¢s.' MoverneDt in f¥*ds Trtllrftrs l April ZOM April 1021 Jl Mvth 1022 Sp¢¢iai reserv¢ 30,(K#) 30.0(KI 25,CKK) 55,000 30,( 30,0(KI 25,000 55.000 Th¢ spccial rtseryc is the amount set aside for the 5Fttific pul￿5¢5 dctrrmined by the trustee5. whith are CEO salary, people investment al￿ infrastrucwre inVeS￿e￿l. 16 An#ty5is of nel assets CentT*I Desigu¥ted R¢stric¢ed funds fuDds 2•22 2022 Total Totsj 2022 2022 2021 FUNJ balances at 31 March 2022 are represented by: Tangible assets Current a5setsl{liabilities) 1980 112.759 4.261 28.905 6241 190.664 7,892 152.696 55.(NY) 114.739 SS.OCrf) 33.166 202.905 160.588 16- BROXBOURNE crfIzENS ADVICE BUREAU NOTES TO THE FINANCIAL STATEMEiYfs (CONTINUED) FOR THE YE4R ENDED 3J MARCH2022 17 R¢l•ted pirty tran5actio•s Remvneration of key management per50nThel The remuneration of key Management personnel ts as follows. 2022 2021 A88reEate coMpen￿10n ,737 24.000 There wer¢ ￿) oth¥ dis¢losabl¢ relat￿ prty tr¥nsadions thrin8 theyear (2021- none). 17-