Sudbury & South Suffolk Citizens Advice Limited {a company limited by guarantee) Unaudited Report & Financial Statements for the year ending 31 March 2024 Charity number: 1123466 Company number: 6051096 Sudbury & South Suffolk Citizens Advice Limited (a company limited by guarantee) Unaudited Report & Financial Statements for the ear endin 31 March 2024 Page Report of the trustees (including Directors, Report) for the year ending 31 March 2024 Independent examinerfs report to the trustees for the year ending 31 March 2024 Statement of financial activities (including income and expenditure account) for the year ending 31 March 2024 Balance sheet as at 31 March 2024 10 Notes to the financial statements 11 Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 The Trustees {who are also the Directors of the Company for the purposes of company law) are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 31 March 2024 which are also prepared to meet the requiremenls for a directors. report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the Charities Statement of Recommended Practice {"Charities SORP") (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland- (FRS 102) issued in October 2019. CHAIR'S REPORT OBJECTIVES AND ACTIVITIES Objectives and aims for the public benefit The principal objectives of the charity, as set out in the Articles of Association, are to: "Promote any Gharitsble purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of povety. sickness and distress in particular, but without limitation, for the benefit of the community in Sudbury and surrounding areas". The board confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The charity carries out these objectives through the involvement of our staff and volunteers in a very wide range of activities reflecting the many kinds of issues that trouble members of the community on a daily basis. Significant activities We provide free, independent, confidential, and impartial advice to everyone on their problems, rights and responsibilities across a range of topics that extends across 18 classifications and more than 250 sub- classifications. These include benefits, consumer issues. debt, discrimination, employment, family and relationships, health, housing, immigration. and legal issues. Our experience is that many clients in difficulties are facing several issues that are connected and need resolution together. So, we continue to support our clients with advice and guidance until all their problems are resolved or they have a clear pathway they can follow. The benefits of our support extend beyond the practical resolution of clients. issues to their peace of mind and significant health and well-being improvements. National research shows this brings measurable fiscal benefits and wider gains in social and economic terms. PERFORMANCE AND IMPACT In our report for the year 2022-23 we observed that we had focused on the emergence of our operations from the restrictions of Ihe pandemic. This year (2023-24) has seen us further re-build capacity. assure quality and start to prepare a plafform for a long-term sustainable fulure. The Board is pleased to report that we suslained our economic benefit to our community during the year, returning £1.052 million {vs £1.061 million last year). Within that total the income gain was £701.000 (vs. £746,000 last year). The benefits of our debt services to clients totalled £229,000 (vs £230,000 last year). Other areas of benefit such as compensation and recoveries of deposits totalled £122,000. Our clients numbers increased by 6 % to 1,870 and the issues they presented with increased by 17°/0 to 10.479. This reflects the increase in workload and complexity faced by the organisation. Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 PERFORMANCE AND IMPACT Continued Citizens Advice, nationally. uses an HM Treasury agreed model to estimate the multiplier of societal value versus our costs: that suggests that the wider gain in temis of health and well-being is 30 times the investment by funders in our services - a totsl of £8.2 million During the year we continued to recruit, train and organise lo service increasing demand arising from the cost-of- living crisis. Including Trustees. we now have 48 volunteers- alongside our employed staff team., together they work to support out community. We cannot thank them all enough. The monthly clients contacting us increased to record levels and the number of their issues rose faster,. the increasing the Gomplexity of our work reflects the challenges that many of our clients are faGing. The board constantly monitors the statistics of our demand and benchmarks our experience with national figures. We have been able (so far) to cope with the increase in demand which has been the exponential trend seen elsewhere in the country. LOOKING AHEAD From this, ever more stable. delivery platform. the Board is focused on the financial stability of the organisation alongside its ability to increase our reach in the community- To this end we have re-branded the organisation to Sudbury and South Suffolk Citizens Advice. upgraded our web and social media presence, reached out through schools and foodbanks, and socialised our ambitions with local government and funders. We have prepared a corporate fundraising programme during the coming year to supplement our historic fundraising channels. There are strong signs that this programme is going to be successful. PRINCIPAL FUNDING SOURCES The charity is principally funded by grants from various bodies detailed in the reports and accounts. The charity did not have any borrowings from either a provider of funding or other sources at the Balance Sheet date. OUR THANKS We are extremely grateful to our many supporters for their funding and especially the Babergh District. Town and Parish Councils, Suffolk County Council, and the National Lottery. We appreciate their confidence in what we do, and the increasing funding horizons some of them are providing. We are committed to working with them on reach and engagement with our community and in alliance with other Citizens Advice organisations across Suffolk. Our staff and volunteers are the comerslone of our work. On behalf of the trustees, they all have our greatest respect and sincere thanks. RESERVES POLICY The directors believe that the Bureau should set aside financial reserves to ensure that it can Gontinue to operate and meet the needs of clients in the event of unexpected contingencies including a cessation or interruption of part of its funding. In addition, the Bureau needs to be in a position to meet its contractual commitments. Under the agreed reserves policy reseNes of £212.118 are set aside within unrestricted reseNes. Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 RESERVES POLICY Continued In addition to the above, the Bureau will maintain restricted reserves where funds are restricted by the donor or funder and cannot be used for general purposes. At 31 March 2024, total unrestricted reserves were £224.941 {2023'. £276.389) and restricted funds were £nil12023.' £nill. REFERENCE AND ADMINISTRATIVE DETAILS Charity name: Sudbury & South Suffolk Citizens Advice Limited Charity number.. 1123466 Company number.. 6051096 Principal office and registered office: Keyse House, Acton Lane, Sudbury, Suffolk, C010 1QN The charity changed its name from Sudbury & District Citizens Advice to Sudbury & South Suffolk Citizens Advice Limited by a special resolution agreed by members on 11 th October 2023. Our advisers Independent examiner.. Moore Green Chartered Accountants 22 Friars Street. Sudbury, Suffolk. C010 2AA Bankers.. Lloyds Bank PIC 30 Market Hill, Sudbury, Suffolk, C010 2EL Directors and trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The tNstees and officers serving during the year and since the year end were as follows: Alan Braithwaite (Chair) Janice Osborne (Trustee} Murat KiraG (Trustee)- resigned 23.05.23 Paul Sweeny {Trustee) Dave Watts (Trustee) Sarah Bartlett (Treasurer) Riham Aboushousha (Trusteel Martin Royal (Trusteel Mr Matthew Martin - appointed 12.07.23 Mr Piers Roberts - appointed 12.07.23 Chief officer: Colleen Sweeney Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Sudbury & South Suffolk Citizens Advice Limited is a charitable company limited by guarantee, incorporated on 4 April 2008. The Company is govemed by its Memorandum and Articles of Association. In the event of the company being wound up every member (including members who ceased to be members within one year prior to such winding up) would be required to contribute to the company's assets an amount not exceeding £1. The company is a registered charity with the Charity Commission. Trustee recruitment and appointment Trustees are either initially co-opted by the Trustee Board and then elected to the Board at an Annual General Meeting within three years of co-option or, allematively, elected directly at an Annual General Meeting. The charity seeks nominations for trustee vacancies in regard to having the need to have a broad mix of skills and experience. Trustee induction and training New trustees are briefed on their legal obligations under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the strategic business development plan and recent financial performance of the charity. They also meet key employees, volunteers and other trustees. Trustees are encouraged to attend appropriate extemal training events where these will facilitate the understanding of their role. Organisational structure The trustee board is responsible for setting Ihe strategic direction of the organisation and the policy of the charity. The trustees cary the ultimate responsibility for the conduct of Sudbury & South Suffolk Citizens Advice Limited and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet quarterly as a minimum, and delegate the day-t(Hlay operation of the organisation to a paid chief officer. The trustee board is independent from management. A register of members, interests is maintained at the registered office and is available to the public. Related partles and CO￿peratIOn wlth other organlsatlons Sudbury & South Suffolk Citizens Advice Limited is a member of Citizens Advice, the national association for the Citizens Advice seNice. From April 2015 Citizens Advice Bureau became known as Local Citizens Advice ILCA). The charity also cooperates and liaises with many other advisory services, local charities, trusts and social services departments on behalf of clients. Pay policy for senior staff The directors Gonsider the board of directors, who are the Trust's trustees and the chief offiGer, the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All directors give of their time freely and no director received remuneration in Ihe year. Details of directors, expenses and related party transactions are disclosed in note 15 to the accounts. The pay of the senior staff is reviewed annually and normally increased in accordance with average eamings. In view of the nature of the charity, the directors benchmark against pay levels in the public sector. Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 Audlt process The charitable company is annually audited by Citizens Advice using a Perfomiance and Quality Framework. Every three years the LCA receives a full audit to ensure compliance with the Advice Quality standard IAQS) and the Money Advice servi￿ Debt Advice Quality Framework (MASDAQF). The RedlAmbertYellow and Green (RAYG) scoring system is used to mark each of the five key areas: Quality of Advice Assessment. Client Experience., People Management" Leadership. Financial Health Monitoring. Quality of AdviGe Assessment - every quarter the LCA self-assesses a selection of cases which are then checked by a Citizens Advice auditor for the quality of the self-assessment and quality of advice. Client Experience a selection of clients is contacted by email or text after Ihe advice process to assess their satisfaction with the service and the advice provided. People Management - an annual survey is sent to all staff and volunteers to ask people about their experiences, identify what's working well and see where improvements can be made. Leadership - the Trustees annually self-assess how well the charity is run and whether it is delivering good quality services. The self-assessment is checked by an auditor from Citizens Advi￿. Financial Health - quarterly financial reports are provided to Citizens Advice which are assessed against the budget and the Reserves PoliGy. A comparison is provided against LCA in the family group. Risk management The board has a formal risk managemenl policy. The principal risks to which the charity is exposed have been identified and appropriate controls are in place to provide reasonable assurance against fraud and error. To this end the board has put in place a documented fomial risk assessment which is reviewed and updated on a regular basis. Trustees, responsibilities in relation to the financial statements The charity trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing a Twstees, Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources for that period. In preparing the financial statements. the trustees are required to: Select suitable accounting policies and then apply them consistently- Observe the methods and principles in the Charities SORP", Make judgements and estimates that are reasonable and prudent; State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and Prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. Sudbury & South Suffolk Citizens Advice Limited Report of the trustees (including Directors. Report) for the year ending 31 March 2024 Trustees, responsibilities in relation to the financial statements - continued The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial infomation included on the charitable company s website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The trustees. annual report was approved on 16 October 2024 and signed on behalf of the board of trustees. A W Braithwaite (Chair) Trustee th 16 October 2024 Sudbury & South Suffolk Citizens Advice Limited Independent examinerfs report to the trustees for the year endin 31 March 2024 I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 9 to 20. Responsibilities and basis of report As the charity trustees of the company (and also ils directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your companls accounts as carried out under section 145 of the Charities Acl 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 examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair vieW which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Vincent Chandler FCA FCCA Institute of Chartered Accountants in England and Wales Moore Green Chartered Accountants 22 Friars Street Sudbury Suffolk C010 2AA Date.. 28.10.2024 Sudbury & South Suffolk Citizens Advice LTmited Statement of financial activities includin income and ex nditure account for the ear endin 31 March 2024 2024 2023 Unrestrieied RÈstrieted Total funds Total funds funds funds Note Incom& Grants and donations Other charitable activities Inv8Stment income Total incomè 109.553 100,383 209,936 99 4,319 214,354 249,785 166 1,186 251,137 4,319 113,971 100,383 EX￿ndItUr• Charitable activities Total •xpenditur• 130.015 130.015 135.787 135.787 265,802 265,802 275.247 275,247 Net incomellexpenditurel for the year Transfers betwe8n funds for the y8ar Net movement in funds for the year 116.0441 35.404 51.448 135.4041 35.404 151.4481 124,1101 21 51.448 24,110 Reconciliation of funds Tc)tal funds brought for¥ward Total funds carried forward 276.389 224.941 276,389 224,941 300.499 276.389 The statement of financial activities indudes all gains and losses recoJnised in Ihe year. Nl in￿rne and expenditure derives from continuing aclivilies. **Sudbury & South Suffolk Citizens Advice Limited Balance sheet as at 31 March 2024** |||**2024**|**2023**| |---|---|---|---| ||Note|£|£| |**Fixed assets**|17|9,137|| |**Current assets**|||| |Debtors|12|715|1,898| |Cash at bank and in hand||276,617|307,478| |**Total current assets**||277,332|309,376| |**Liabilities**|||| |Creditors: amounts falling due within one|||| |year|13|(61,528)|(32,987)| |**Net current assets**||215,804|276,389| |**Total assets less current liabilities**||224,941|276,389| |**Creditors:**amounts falling due after more|||| |than one year|||| |**Net assets**||224,941|276,389| |**Funds of the charity**|14||| |Restricted funds|||| |Unrestricted funds||224,941|276,389| |**Total charity funds**||224,941|276,389| For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors' responsibilities: - The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements; - These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime; The notes at pages 11 to 20 form part of these accounts. These financial statements were approved by the board of trustees and authorised for issue on 16 October 2024 and are signed on behalf of the board by: A W Braithwaite (Chair) Trustee S Bartlett (Treasurer) Trustee -10- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 1 Accounting policies The principal accounting policies adopted. judgements and key SoU￿S of estimalion uncertainty in the preparation of the financial statements are as follows= Basis of preparation The financial statemenls have been prepared in accordance with the Charities.. Slatement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019} - (Charities SORP (FRS 102)}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Sudbury & District Citizens Advice meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othetwise stated in the relevant accounting policy note{s). Going concern The accounts have been prepared on the going concem basis and the trustees believe that no material Un￿rtaIntieS exist. The trustees have considered Ihe level of funds held and the expected income and expenditure for the next 12 months when authorising these financial statements. The budgeted income and expenditure are SLrfficient with the level of reserves for the charity to be able to continue as a going concem. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charIt￿S purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by Ihe donor or through the terms of an appeal and fall into one of two sutFclasses.' restricted income funds or endowment funds. Income All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable, and its amount Gan be measured reliably" income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value,. - donated facilities and ServI￿S are recognised in the accounts when received if the value can be reliably measured.. no amounts are included for the contribution of general volunteers. -11- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 1 Accounting policies - continued Expenditure Expenditure is recognised on an accruals basis as a liability is incu￿ed. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates= expenditure on raising funds includes the costs of all fundraising activities, events, non-charitsble trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term. on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated deprecialion and impaimient losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. offi￿ equipment: 25 % - 33% Straight line Impainnent of fixed assets A review for indicators of impaiment is carried out at each reporting date, wilh the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Debtors Trade and other debtors are recognized at the settlement amount due. Prepayments are valued at the amount prepaid. Cash at bank and in hand Cash at bank and cash in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are nomially recognised at their settlement amount after allowing for any trade discounts due. -12- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 1 Accounting policies - continued m Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party lo the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the presenl value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. 2 Legal status of the company The charity is a company limited by guarantee. None of the trustees have a beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. 3 Income from donations and grants 2024 2023 Donations Grants (note 4 } 5.513 204,423 209.936 6.646 243,139 249,785 The income from donalions and grants was £209,936 (2023: £249,785) of which £109,553 was unrestricted 12023.. £144,247) and £100.383 restricted (2023: £105.538). The Trust benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP IFRS 102), the economic contribution of general volunteers is not recognised in the accounts. 4 Income from grants 2024 2023 Unrestricted Sudbury Town Council Suffolk County Council Hadleigh Town Council Babergh District Council National Citizens Advice Sudbury Municipal Charity 8,500 19,800 1.200 73,540 8,500 38,881 900 73,750 15,500 250 137,781 1.000 104,040 -13- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 4 Income from grants- continued 2024 2023 Restricted Ganzoni Charitable Trust Suffolk County Counal - LWAS Suffolk County Council IMF Suffolk Community Foundation - Benefits Specialist Suffolk Community Foundation- SuNiving Winter Suffolk Community Foundation- Over 65s The Befriending Scheme - Cookery project Rope Trust - Benefits Specialist Citizens Advice - EAP 1,000 12,080 26,040 1,000 2.000 3,850 1.176 1.226 4.587 262 Lottery Fund- IT Equipment Reaching Communities Lottery Fund - Community Development Project Babergh District Council - Community Development Project Babergh District Council - offi￿ chairs Lottery Fund- Debt project Suffolk County Council - Debt project Suffolk Family Carers- CFH 10,000 49,897 12,372 11.667 322 25.382 499 8,333 25,074 8,974 105,358 100.383 Total Grants 204,423 243,139 5 Income from other charitable activities Unrestricted funds Unrestricted funds 2024 2023 Fundraising events 99 166 6 Investment income Unrestricted funds Unrestricted funds 2024 2023 Bank interest re￿1vable 4.319 1,186 -14- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 7 Expenditure on charitable activities 2024 2023 Staff costs Wages and salaries staff training and travel 204,889 4.640 209,529 211,075 8,017 219,092 Office costs IT equipment and support Office equipment Insurance Payroll and accounting fees Postage Printing and stationery Telephone and communication Other 7,020 32 12,287 1,991 2,486 4,107 472 2,283 4.788 637 2.575 3,388 2.156 22,879 1,032 3,418 933 26,726 Premises costs Rent Rates 15,211 2,483 8.912 1,442 28,048 15,113 1,813 1,298 3,926 22,150 Light and heat Cleaning and maintenan Governance costs Independent examine¢s fees Other 1.200 550 1,750 1,320 5,738 7,058 Other costs Publicity and promotion Miscellaneous Depreciation 518 32 3.046 3.596 189 32 221 Total expenditure on charitable activities 265,802 275,247 8 Net income Net income is stated after charging= 2024 2023 Depreciation of tangible fixed assets 3,046 -1& Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 9 Independent examinerfs fees Net income is stated after charging- 2024 2023 Fees payable to the independent examiner for independent examination of the financial statements 1.200 1,320 10 Employee costs The total staff costs and employee benefits for the year are analysed as follows.. 2024 2023 Salaries and social security costs Pension costs 199,176 5,713 204.889 205,897 5,178 211,075 The average headcount of employees during the year was 13 (2023: 14) No employee received employee benefits of more than £60.000 during the year (2023.. nil) 11 Trustees, remuneration and expenses No trustee received any remuneration during the year. The charity reimbursed trustees for expenses during the year amounting to £nil (2023: £nil) 12 Debtors 2024 2023 Prepayments and accrued income 715 1,898 13 Creditors- amounts falling due after more than one year 2024 2023 Accruals and deferred income 61,528 29,418 3,569 32,987 Social security and other taxes 61,528 -16- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 14 Analysis of charitable funds At 1st April 2023 Nel movement in fur)ds Transfer between funds At31sl March 2024 Unrestricted funds General funds 276,389 {16,044} 135,4041 224,941 Rostricted funds Suffolk County Council - LWAS Suffolk CoLJnty Council IMF Suffolk Community Foundation - Benefits Specialist Suffolk Community Foundation - Surviving Winter Suffolk Community Foundation - Ad￿￿ for over 65s The Befriending Scheme- Cookery project Rope Trust- Benefits Specialist Citizens Advi¢e - EAP Lottery Fund- IT Equipment Lollery Fund- Community Development Project Lottery Fund- Reaching Communities Babergh District Council - Community Development Project Babergh District Council - offi￿ chairs Suffolk County Council - Laptop Lottery Fund- Debt project 19,570> 9,570 (3.550) 3,550 10,000 110,0001 {3,907> 11.191) 322 3,907 1,191 13221 {4991 27,508 35.404 499 {27,508} 135,4041 Total funds 276.389 51.448 224,941 Incoming resources Resources expended Movement in funds Unrestricted funds General funds 113,971 1130,0151 116,0441 Re$lricled funds Suffolk County Council - LWAS Suffolk County Coun¢il IMF Suffolk Community Foundation - Benefrts Specialist Suffolk Community Foundation - Surviving Winter Suffolk Community Foundation - Advice for over 65s The Befriending S¢heme- Cookery project Rope Trust- Benefits Specialist Citizens Advice - EAP Lottery Fund- IT Equipment Lottery Fund - Community Development Project Lottery Fund- Reaching Communities Babergh District Council - Community Development Project Babergh District Council - offi￿ chairs Suffolk County Coun¢il - Laptop Lottery Fund- Debt project 26.040 1,000 2,000 3.849 1.177 1,226 4.587 262 10,000 12,372 126,0401 {1,0001 111,5701 {3,8491 11,1771 {1,2261 18,1371 {2621 19,5701 13,5501 10,000 112,3721 13,9071 112,8581 13,9071 11,191) 322 11.667 322 499 25,382 100,383 499 {28,0071 135,4041 153,3891 1135,7871 Total funds 214,354 265.802 51,448 -17- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 14 Analysis of charitable funds Icomparatlve5) At 1st April 2022 Nel movement in fur)ds Transfer between funds At31sl March 2023 Unrestricted funds General funds 268,406 17,109 {9,1261 276,389 Rostricted funds Suffolk County Council Babergh Dislrict Council Citizens Advice Suffolk Family Carers Ganzoni Trust Debt Lottery Fund Community Lottery Fund 32.093 132,0931 1,879 {1.879} {38,122) 11,2181 {41.219) 38,122 1,218 9.126 32.093 Total funds 300.499 24.110 276,389 Incoming resources Resources expended Movement in funds Unrestricted funds General funds 145.779 1128.6701 17,109 Rostrictod funds Suffolk County Council Babergh Dislrict Council Citizens Advice 12.080 8,333 112,0801 {8,3331 Suffolk Family Carers Ganzoni Trust Debt Lottery Fund Communty Lottery Fund 8.974 1.000 25,074 49,897 105,358 110,8531 {1,0001 163,1961 151,1151 1146,5771 11,879) {38,122) 11,2181 141.219) Total funds 251.137 275.247 24.110 15 Related party transactions There have been no related paty transactions in this or the prewous reporting year. 16 Employee benefits obllgatlons The Bureau is a participating employer in The Pensions Trust's GrovAh Plan. which comprises Series 1 10 4. The plan is funded and is not contracted out of the stste scheme. Series 1 10 3 constitute a mulli-employer pension plan, where the assets are ccFmingled for investment purwses, and benefits are paid out of the plan's total assets. It is not possible in the nomal course of events to identify on a reasonable and consistent basis the share of the underlying assets and liabilities belonging to individual participating employers. A full actuarial valuation for the scheme was carried out at 30 Seplember 2020. This valualion showed assets of £800.3m, liabiltties of £831.9m and a deficit of £31.6m. Employers participating in Series 1 and 2 of Growth Plan are being required to make additional contributions lo help lo eliminate this deficit. The Bureau has never participated in these Series. Whilst unlikely, it cannot totally be ruled out that such contributions may arise in the future in respect of the Bureau's past membership of Series 3 of the growth plan. -1 Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 17 Tangible fixed assets Plant and machinery Fixtures and fittings Computer equipment Totals Cost At 1 st April 2023 Additions At 31st March 2024 8,982 371 322 693 13,068 11.860 24,928 22,421 12,182 34,603 8.982 Depreciation At 1 st April 2023 Charge for the year At 31st March 2024 8.982 371 80 451 13.068 2.965 16,033 22,421 3,045 25,466 8,982 Net book value Al 31st March 2024 At 31st March 2023 242 8.895 9.137 18 Financial commitments Total commitments under non-cancellable operating leases are as follows: 2024 2023 Amounts due wthin one year Amounts due between one and five years 15.000 22.500 37,500 15,000 22,500 37,500 19 Contlngent Ilablllties The Pensions Act 2011 retrospectively altered the definition of Series 3 of the Growth Plan so that it became categorised as a 'defined benefrf arrangement. As such, it is anticipated that employers such as the Bureau which participated in Series 3 will be liable to meet a share of the deficit on a buy-out basis if they leave the Growth Plan. The Bureau's estimated debt on withdrawal at 30th September 2023 is £2,509. The Bureau has not provided for this liability in these financial statements since it has no demonstrable commitment to withdraw from the Growih Plan. If immediate withdrawal from the Scheme were to be made, then suffiGient cash reserves are held to settie the contingent liability, without impacting on day-to-day operations. 20 Analysis of assets by fund type 2024 Restricted funds Unreslricted funds Total funds Fixed assets Debtors Cash at bank and in hand Creditors.. amounts falling due within one year Net assets 9,137 9.137 715 276,617 61,528 224 941 715 52.984 53,699 223,633 7,829 224 941 -19- Sudbury & South Suffolk Citizens Advice Limited Notes to the Financial Statements 20 Analysis of assets by fund type - continued 2023 Reslricted funds Unrestricted funds Total funds Fixed assets Debtors Cash at bank and in hand Creditors.. amounts falling due within one year Net assets 1,898 289,771 (15,280) 276 389 1,898 307,478 (32,987) 276 389 17,707 (17,707) 21 Transfer between funds A funder can specify the activities for which a donation or grant can be used. In these instances, the funds received are restricted funds. Where funds are received for a specific project and costs of that project exceed funding received the deficit is made up by a transfer from unrestricted reserves to restricled reserves. -20-