CITIZENS ADVICE BUCKINGHAMSHIRE LTD ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 COMPANY NO: 06693405 CHARtrY NO: 1126825 Citizttts Advic6 Buckinghamshlre Ltd Annual Report and Accounts 2023 CITIZENS ADVICE BUCKINGHAMSHIRE LTD Contents of Annual Report and Accounts For the Year Ended 31 March 2023 Page Legal and Administrative htomation Report of the DlrectorslTrust8es Statement of Financial Activitie5 Balance She 10 Cash Flow Notes to Ihe Financial Statements 12 Independonl Audrtors Report 22 Citizens Advice Buckinghamshire Ltd Annual Report and Accounts 2023 CITIZENSADVICE BUCKINGHAMSHIRE LTD Legal and Administrative Information Year Ended 31 March 2023 DirectorslTrustees'. Jane Mordue Farrukh Siddiqi li8 Dangi Philip Bnjce Diana Davis Julian Ingram Karen Satterford Susan Webster Lesley ¥Mlkin Tessa Ca511e Nahid8 Khatun Chair Treasurèr Company Secretary 18ppoint￿ 1st March 20231 lappointed 1$t March 20231 Ireslgned 27lh April 20231 Iresigned 9th August 20231 Russdl C8rp8nter Tony Bull (resigned 301h August 20221 (resigned 7th November 20221 Company S•crelary'. Russell Ca￿enter Lilia Dangi (resigned 201h August 2022) (appointed 1st March 20231 Chlef Offl¢w: Thalla Jervis Ir85igned 22nd Seplember 2023) Registered Office: 2 Pebble Lane Aylesbury Buckinghamshim HP20 2JH Gompany Number.. 06693405 Charlty Number: 1126825 Independent Auditors: A2els Audit Service5 Suites 8 & D Bumham Yard Beaconsf ield Buckinghamshire HPg CAF Bank Limited West Malling Kent WE8SITE: hll s.'Ilciliz advicebucks.o ukl Cilizens Advice Buckinghamshir8 Ltd Annual Report and Accounts 2023 REPORT OF THE DIRECTORsrrRUSTEES forthe yearended 31 March 2023 The d1￿CtorS of the charity present thdr reptsrt and attounts forthe year ￿￿ed 31 Mareh 2023 vthich also meet the requiromenls for 8 directors. ￿part and accounts for Companies Act pu￿OseS. The financial slalemerils Gomply with the Charilies AGt 2011, the Companies Act 2006. the Memorandurn of Association. and Accounts'ng ancl Reporting by Charities.. Statomenl of Recommended PractlC8 appIiG8ble io charities preparing their accounts in accordance with the Financial Rq)orting Standard applicable in the UK and R8pubtic of treland (FRS 1 D21 (Issued in October 2019}. STRUCTURE, GOVERNANCE AND MANAGEMENT Citizens AdviceBu¢king hamshire is registered as Citizens AdviceBuckinghamshire Limited, company rlumber 06693405} and ils registered charity number 1$ 1126825. tt was renamed followng the tnerger of the three previous Citizens Advice bodies in April 2021, havlng prevlously been named Citlzens Advlce Aylesbury Vale (20171 and Aylesbury and District Citi28ns Advic& Bur8au120081- The chwi18ble company w8s es18blished under 8 Memornndum of AssDCi8tion which set out its objectives and powers and is govemed under its Articles of Association. The Articles were updated in May 2023 to reflect chaMg&s in the Charities Act 2022. 1 is a member of the National Associalion of Citi2ens Advice Bure8ux (Qtizens Advice) and is subjeei to regular qualily audits as Part of its membership requirements. APPOINTMENT OF TRUSTEES The director5 of the company are also trustees of the chaity for the purposes of charity law as defined by section 177 of the Ch￿ilIeS Act 2011 ané under the Company's Artlcles are known as membws of Ihe Trustee Board. Under the requirements of the Articles of Association, elected dir￿torS seNe for a period of three years af ler Nthich they musl be re-elect&Y at the next Annual General Meeting. Directors who seNed during Ihe year are listed on the Adminlstrallve knfomatlon Page. They recrutt either f rom the previous, merged, organisalions or by advertising vacancies through a specialist website arKI personal contacts. All were interviewed by existing meTnbers of the Irusl88 board. New direGtors receive induclion training. which coveTS CRizens Advice services and ils aims, principles and policies. Tnjstees 8re glven inlroduclory infonyjation 8nd can spen(I tlme meeting with staff and volunteers. There are explanations of the Tr)le of a di¥eGtOTltnJtstee, Ihe board. the stralegy and business developmerrt plan, and issues including funding. They undertake mandatory trainirKJ as necessary. PRINCIPAL ACTIVITY The principal activity of the company was the operation of a Citizens Advice service with offices in Amersham. Aylesbury, Bucklngham. Chesham and High Wycombe, wth some oulrwh and a growng seryice on11ne. CA Bucks gives freg, indepgndent and confidential ?dviGe to members of public and is in a unique posilDn lo campaign for change social injuslices arise, based on real time irrfomiation on OU￿ent iSSU8S. RELATED PARTIES Citizens Advice Buckinghamshire is a member of the National Association of Citizen5 Advice BureaLLK, company number 01436945 and registered charity no. 27W57, known as Citizens Advice. VISION, MISSION AND VALUES Vision To bulld a betlw Bucks, a canng communlly that responds %then peopl8 need help. We kt70w our servSce8 can transf om our cli8nls' lives- practically, financially and emotionally. An(J if ourclienls, lives are better, our communilies. both urban and rural. are beller and so is our county. Crtizens Adv￿ Buckinghamshire Ltd Annual Repjrt and kcounts 2023 MivJion To focus help on those most in need, at risk. deprpled most vulnerable. To help our clients resolve as many issues as we can by empowering them where possibb and supporting where there Ès need. To raise money to fund our services to meet the demand across the county. To use technology to help us meet oui clients, needs ff*)r8 efficiently and effectively. Values Professional- Respect- Kind - Friendly- client￿ent[ed. REVIEW OF YEAR 2022-23 This year saw the coming lo fruition of OLtr merger, realising the benefits of having one tsam across 8uck1nghamsh1￿. Expertise and resource based in one location is now shared more widely. to help our clients and also to support our own staff and advisers better. Known as CA Bucks. the organrsation moved into'business as usual, mode. just as events here and abroad conSpi￿d to ramp up the pressure. Cost-of-living anrj soaring intstson saw a relen￿esS increase in demand for our seryiees. Even in 'leafy Buckinghamshire,, thal people who had few resources to fall back on were hit hard. There were large increases in debt and housing issues as well as food bank vouchers. Financial C8pabilrty topped the list with 8 26% rise driven mainly through the Pensionwise contract. Child p)verty is an issue here wth nine wards which have an above average percentage of children in povety- In 2022r23 we saw 1,945 clEnts from these wards who tse￿een them required advice about 10,064 issues. We helped them receive £860k in income gains, have £244k debts written off and reCe￿e £11k worth of food bank vouGhers. Sudden rises in inflation hurt many people, tefore beneffts were increased. and even now the advisers struggle to help clients gel back in the black. This puts a strain on advisers themselves and we are gratefvl lo all for their dedication and commitment. The board agreed a system of mental health champions to prowde support to staff and volunteers. One big win was that volunteer numbers returned to pre-pandemi¢ levels. Thi$ helped CA Bucks see a third more clients in March 2023 than in March 2022. This year highlighted the thallgnge of helping those most in need of our seNices as against simpl8 demand the serv¢ce is open tc all. Clients were presenting from a wider social demogrdphi¢- those in work and those in higher socic-economic groups were facing sudden financial shocks. The board and senior management team agreed a new strategy to channel demand by increasing the focu5 on need. First. it agreed 4 strategic prioriti'es by which to measure options.. Prevention. Issues, Need and Empowerment. Next it agreed a model to match the clientto the right service channel. So, ernF￿ering people with information where possible enabling them to resolve their issues for themselves and providing more intensive interventions for those who needed them including a retum to frace to lace for the most vulnerable - although some still preferred the phone. Another benefit of countywide VK•rking has been our ability lo seek funds from targer ¢hartbes as well as working in partnership with other Bucks organisations including ctharities and the NHS. The group 'Charities Togetherf is a good example of this. Fomed to tackle financial insecurity, CA Bucks joined Age UK Buck& Carers Bucks, Community Impact Bucks. Connection Support and Youth Concern. Funding is from the Anson Charitable Tru$l, Heart of Bucks Community Foundatton, Rothschild Foundation and the Tony & shee1￿h Williams Found*ion. FINANCIAL REVIEW Overview As set out in the Statement of Financial ActNities, total inwme for the year ended 31 March 2023 was £1,493,828. The totsl expenditure was £1.$94.651 resulting in a deficit for the year of£100,823. Citizens Advice Buckinghamshire Ltd Annual Report and A(tounts 2023 Reserves Total funds of the Chaiity at 31 March 2023 amount&J to £656,156, comprislng of Un￿stnCted reserves of £636,248 and ￿skncted reserves of £19.908. Citizens Advice Bucks rese￿e$ wlicy aims to maintsin un￿Strided reserves whiGh reflect the cash needs of the 3 year business plan and aims to maintain unrestrictive reserves of btheen 3 and 6 months of the forecast 8xpendilure. Investhient pollcy The directors aimed to maximise the Inte￿$t eamed on charty funds by minimis1￿ current account balances and maximising the amounts held on deposit. Going Concern After reviewing the organisation's budgets and bu$in8ss plan, taking account of the current economic dimate and its reserves position, the diieclors have a reasonable 8xpectation that the organisation has adequate resources to continue in operational existence for the forèseeablè ftrture. They continue to adopt the going concem basis in preparing Ihe financial statements. Principal Risk and Uncertainty The directors are responsiblefor risk management. A comprehensive annual planning and budg8kn.ng prc¢ess is approved by the board, durin9 which a thorough assessment of our key extemal and internal risks is undertaken, together with how these risks affj being managed. In additson. the board [￿e1Ved regular reports from the Finance and Risk Committee wh￿h receives risk registers from senior management. They assess the adequacy of intemal conlrol syslems and risk management processes in place. The board review5 quarterly the key strategic risks, the adequacy of the actions being taken to address them and the advent of any new risks. As an integral part of the risk management approach the board considers the foilowng to be the principal risks and uncertainties for CA Bucks and the acb'on we lake to manage those risks. Failure to maintain a strategic ￿￿￿S.. miligated by our business plan., effective ljoard management and perfomance monilonng and a strategic transformation pLan. This year 4 strategic crtteria were added to aid assessment of new strategic options presented in a faster moving environment. Change management resulting in loss of staff and volunteers.. mltigated by good communication of strategy.. stafflvolunteer engagement., recruitment and training,. involvement in strategic planning. Thls yeara push oft ¥olunleer re¢rufmenl increased the numberofvolunteers back to prwandemic leveb. P¢)or qualty of advice resutting in ￿pUtatIonal damage. complaints. action-. mitigated by wel developed training plans.. appropriate suppo¢ action taken to address poor qualty advice and consistent quality checking processes. This year the risk rab'ng was reduced to refiect ongoing go¢)d standards. Failure to meet needs of stakeholders resulting in bss of fundir¥J'. milvjated by effectNe engagement effective perft)rrnance rrEasure. This year further devebpment of fund4aising saw a steady base of funding achieved despite challenging extemal conditions. Not meeting fvnding targets and needing to use reseTves.' mthgated by the fLtnd-raising team and clear financial planning. aim to develop multryear ftJrKling and diversifution of courseslopportunitl8S', effectwe service delivery planning. This risk was increased to refiect the funding environment and current forecasts. Mitsgations to include review of recruitment 8rKI Gosts. PRINCIPAL FUNDING SOURCES The principal sources of funding received in the year was £543.130 frcrfn Buckinghamshire Council. and a diverse range of funding from other sources. PUBLIC BENEFIT The directors confinn that they have complied with their duty to have due regard to the guidance on public beneff( published by the Charity Commission in exercising their pows ￿ dubes. Citizens Advic8 Bucking hamshire Ltd Annual Report and Accounts 2023 ACKNOWLEDGEMENTS We are tremendousty grdteful to every funderwho has made Dur work possible this year and would especially like lo thank the follovKng". Buckinghamshire Council. National Lottery Community Fund, the DWP. Santander UK Foundation, The Rolhschild Foundation, Chiltem Foodb#nk. Paradigm, Oxford Hea5thcare Trust, The Ctare Foundation. BACAB. The Heart of Bucks Community Foundatlon. The Thomas Hickman Charity and many mor8. We would 81$0 like to thank each of the Parish and Town Councils hav2 recognised the importance of maintaining our setvice in their community and supported us including Winslow Town Council, Madow Town Council, The fvers Partsh Council, High Wycombe Town Commille2, Groat Missenden Parish Council and Buckingham Town Council. STATEMENT AS TO THE DISCLOSURE OF INFORMATION TO AUDITORDS So f ar as the diractars are 8W8re, there is no relevant infomialion of which the charitable company's audito ar8 unavrdre each director has taken all the steps that they ought to have taken a5 a dIr￿lor in order to make thern aware of any relevant aud it information and to establish thot the charitable company s audito are aware of that information. APPROVAL These financial stat8rn8nts have be¥Jn prepared in accordance with the Companies Act2006 and the Charities SORP {FRS102). Approved by the Board of Tw$lees on 8th November 2023 and signed orb their behalf by Jane Mordue Chairrnan Dated: r ￿kn202r Qlizens Advice Buckinghamshire Ltd Annual Report 8nd Accounts 2023 STATEMENT OF TRUSTEE RESPONSIBILrriES The directors are responsible for prep8ring the directors. report and the accounls in accordance wth appliGable and United Kingdom ACCO￿LIng Standards (Uniled Kingdom Generdlly Accepted Accounlirg Pr8¢1i¢e). Company law requires the directors lo prepare accounts f or each financial year sthich gwe a Iw8 8nd fairvi8w of the state gf affairs of tho Gharity and of the incoming resources and application of resourcgs, including the income and expenditure, of the charitable company for that year. In preparing these accounts, the directors are required to.. Select suitable accounting policies and then apply t￿M consistently nbseNe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent Prepare the accounts on Ihe going GofiGem basis unless il is inappropriate lo presume that the charfty ill Continue in operdlion The directors are responsiblef orkeeping adequate accounting rerolds thal disGIDse vhih reasonable accuracy at any time th8 financial position of the charity and enable them to ensure that the accounts comply wth the Companies act 2006. They are also responsible for saf8guarding the assets of the charity and hence lor laking reasonable steps for the prevenllon and detection of f raud and olher iThegul8rities. Qtizens Advice Buckingham8hir8 Ltd Annual Report Accounts 2023 Cltizens Advice Bucklnghamshlre Ltd Stat8ment of Financial Activities for the year ended 31 March 2023 Unrestriited Restrlrted TOTAL 202112022 Funds Funds Notes INCOME AND EXPENDITURE In¢omlng Resource5 Incomlng resour£es from generated funds.. Grants 600.352 866,423 IA66,775 1,332,494 Donations and Fundraislne Assets donated from CA High Wycombe ssets donated from CA Chiltem 18,099 1&099 13,233 17 330,380 17 248,647 VcALJntary income totsl Investment income 618.451 866A23 1.484.874 1,924,754 &663 421 other income 2.291 2.291 440 Total Incoming Resour¢es 627.405 866.423 1,493.828 1,925,615 Resouffès Expended Charitsble acuvltles Payroll Support costs Charitable activities totsl 461,246 776.819 1.238.065 1,077,407 163,423 172,749 33&172 397.302 624.669 949 1.574.237 1,474,7D9 Governance costs 9.537 10077 2Q414 12.37Q Total Resources Expendèd 634.206 960N45 1.594.651 1,487,079 Nrt In£ome/EMpendlture 194,Q221 IIOQ823) 438.536 Translers between funds {61.3431 {68,1441 132.6791 61,343 Nèt Movements In Funds IIOD,823) 438,536 Total Funds brouBht forward 15 704.a92 52.587 75&979 318,443 Total Fund5 carrled forward Is 636.248 19,908 65&156 756.979 Cit12ens Advice Buckinghamshire Ltd Annual Report and Account$ 2023 Cltizens Advlce Buckinghamshire Ltd Statsment of Financial Activities for the year ended 31 March 2022 Unrestrlcted Restrlcted TOTAL 202012021 Funds Funds Notes INCOME AND EXPENDITURE Intomln8 Resources Incoming resources frL¥n generated funds: Grants 47S,141 857,353 L332,494 442,799 Donatlons and Fundralsing Assets donated from CA High Wcombe Assets donated from CA Chiltem 7,810 5.423 ia,23a 7,921 17 308.341 22.039 330.380 17 195.958 52,689 248.647 Vduntary income tctsl Investment income 987,250 937,504 1,924754 450.720 421 421 1.1)06 Other income 27,386 Total Incomlng Resources 988.111 937.504 1.925.61S 479.112 Resour¢es Expended Charitsble acknvities PayToII Support costs Charitsble actimties totsl 391.346 686,061 1.077,407 233,760 133.684 263,618 397,302 171.957 525.030 949.679 1.474.7119 405,717 Govemance costs 12,370 12.370 2,270 Total Resources Expended 537.400 949,679 1.487.079 407,987 Net IneomelEMpendlture 450.711 112,1751 438.536 71.125 Transfer5 between funds Net Movements Sn Funds 450,711 112,1751 438,536 71.125 Tot41 Funds brought forward 15 253,681 64.762 318A43 247.318 Total Funds carried forward 15 71Ys,392 52,587 756879 318,443 Citizens Advlce Buckinghamshire Ltd Annual Report and Accounts 2023 Citizens Advice Bucklnghamshire Ltd Company Number 06693405 Balance Sheet at 31 March 2023 2022123 2022123 2021122 2021122 Notes FIXED ASSETS Tangibl e assets CURRENT ASSETS Debtors 78.061 148,965 Cash at bank and in hand 826,697 839,304 904.758 988,269 CREDITORS Amounts falling due wthin one year io 248.602 231,290 NET CURRENT ASSETS 656,156 756,979 TOTAL ASSETS LESS CURRENT LIABILITIES 656,156 756,979 THE FUND5 OF THE CHARITY Unrestricted funds -general reserve 15 636,248 704,392 636,248 704.392 Restricted funds 15 19,908 52,587 656,156 756,979 These accounts have been prepared In accordance wth the provlssons applicable lo compani8s subjecl lo the small compani&s' regim& The accounts were approved and authorised for Issue by the Board of DifBCtors on 8th NOv￿ber 2023 and were signed on its bthalf by.. Jane Mordue- Chaiman Farrukh Sidiiiqi - T￿aSurer Citizens Advice Buckinghamshire Ltd Annual Report ￿ Accoutrits 2023 Citizens Advlce Bucklnghamshire Ltd Statsment of Cash Flows for the year endod 31 March 2023 2023 2022 Cash flows from operating lrtlvltles Net income for the reporting period 1100,8231 438,536 las perthe ststement of financial actiwitiesl Depreciation char8es Dividends, interest and rent from investments 16,6631 70,904 14211 194,7351 Ilncreasel/decrease irr debtor5 Increase/ldecreasel in creditors 17,312 72.386 Net cash {used Inl operatlng activities 119,2701 415,766 Cash flows from investing activities: Dlvldends, interest and rent from investments 6.663 421 Proceeds from sale of fixed assets 14Jrchase of fixed assets investments Net cash (used In) Investlna actlvltles (han8e in cash and cash equivalents in the year 6,663 421 112,6071 416,187 Cash and cash equlvalent5 at the beglnnlng of the year 839,304 423.117 Cash and tash equfvalents at the end of the year 826,697 839,304 Citizens Advi￿ Buckinghamshire Ltd Annual Report and Ac£ounts 2023 Notes to the Financial Statsments 1. COMPANY STATUS Citriens Advice Buckinghamshire Ltd {fomerly Citizens Advice Aylesbury Vale) is a private company. limited by guarantee, registered in England and Wales. The companys registered number and registered can be found on the Company infomatKJn page. The presentatton currery of the fin8ncial statements is Poun¢J Slerling {£). 2. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key Sour￿ of estimation and uncertainty in the p￿paratIOn of Ihe finanGial statements are as follows.. Accounting convention The charity constitutes a public benefft entity as defined by FRS 102. The financial statements have been prepared in acGord8nce with Accounting and Reporting by Charities.. Statement of Recommended Practs'ce applicable to charities preparin9 their accounts in accordance wrth.. the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (issued in October 20191, Charities SORP {FRS 102), the Charities Act 2022. and the Companies Act 21X)6. Preparatlon of the accounts on a going Concern basis The Board ha$ considered the future of the organizalion and assessed the financial p05ilion on 31Et Marth 2023. Given the current ￿Ve1 of reseNes, the continuing service level agreementfor2023124 and the expectation that Ihe main sources of funding will continued without any significant ￿duction. the Board is ¢onfident that th8 organisation will continue to be a going con￿rn the 12 months after these ac￿Unts are approved. Recognition of income and èxpenditure All incoming resources a￿ included in the st*ement of financial activities when the charity is enth'tled to. and virtually certain to receive, the income and the amount can be quantifEd wth ￿0$onable accurxy and all perfotrnance criteria have been met Expenditure is recognised on an accrual basis as 8 liability is incuTred. Irrecoverable VAT is charged against the activity for whth the expenditure was incurred. Allocation of Support Costs Support costs are those functions which support the charty in carrying out its main activities. Accorrjingly each lunded a¢tNity has to bear a proportion of these support costs to reflect the full cost of undertaking the work. Support cost are allocated to actThiities based on staff time and any spe¢ific cost items ag￿ed with the funder. Pension contributlons The charity operates a defined contribUth￿ pension scheme. Contributions payable tothe scheme are charged to the Statement of Financial Activities in the period to which they relate. Tangible fixed assets Fixed assets are items costing over £1,000. Items with value of less than £1,000 are expensed in full in ttle year of xquisition and items over £1,000 are fully depreciated in the year of the acquisition. Cash at bank and in hand Cash at bank and in hand refers lo anv)unts which are held by the business in the form of notes and coins le.g. pety cashl or which are held al a bank in the fomi of on4emand deposits such as current accounts and savings accounts. Debtors Debtors and wepaymenls are recognised at the settlement amount due or pahj. Creditorn Credf(ors and provisions are recognised where the Charity has an obltgation which will result in the transfer of funds to a third party and the amount can be measured or eslimated wrth reasonable a￿UracY. Defe￿ad income is income recerved in advance of the associated work being performed 12 CitizensAdvice 8uckingham5hir8 Ltd Annual Report and Accounts 2023 2. ACCOUNTING POLICIES (continued) Redundancy and tsrnilnatlon paymonts Redvndan¢y and termination payments are recognised when formal notice has been given tothe employee(s) ¢on¢8rned. Operating Leasos Rentsls payable under operating leases are charged on a straight line basis over the term of the lease. Gov&mment grants Govemmentgrants are recognised in the incorne statementso as to m*h them with the expenditu￿ towards which they a￿ intended to contribute. Rostrictsd Funds Funding re￿IVed for a parliGular project 15 kept in a restricted fund and spent on salar*s and associated costs relating to that proje¢L In addition support costs are allocated as noted above. 3. MAJOR FUNDERS Buckinghamshire Council 8uckinghamshire Council, as the suttessor to the Districl CouncAls, provides the core funding for the advice servi￿. This has ￿een rolled foNMrd to end of March 2024. The National Lottery Community Fund - Money Matters and Future of Advice The fvnding for these debt advice projects is provided by the Nats"onal Lottery Communrty Fund under the programme RC London and South East Region. The funding for these projects help deliver rjebt advice and build financial capability a$ well as building volunteer and advice capacity and funding digitsl Iransformation. Pension Wise Pension Wise provides free. impartial pensions guidance on clients. pension options. MaPS (Money and Pension Service) This service provides dients aC￿S to money. pensions and debl ajvice. Santsnder UK Foundation Funding for digital and finanoal empowerw*nt and response to cost of INing crisis. The Rothschlld Foundatlon Funding for debt advice and debt casework. Parlsh and Ttr*n Councils A number of local councils (town and parish) have also provided funds hvhich in tum has enabled outreach and other services to be delivered in various locations. Fundlng from other local oryanlsations Other funding for spectfic services comes from other Ic￿1 organisations. such as Paradigm Housing, Oxford Healthcare Trust. Chi￿eM Foodbank, Buckingham Area Community Advi￿ Bureau. The Clare Foundation. The Tony & Sheelagh Williams Charitabfe Foundation. The Heart of Bucks Communty Foundation. and The Williarn Harding Charity. Unrestricted Funds Other matsrial grants and funds reGeNed are unrestriGted a5 to purpose and have teen used to provide the Core Services. 13 Citizans Advice Bjjckinghamshire Ltd Annual Report and Accounts 2023 OPERATING SURPLUS 2023 2022 The net income resources is stated after charging.. Audit 20,100 10,800 Accountants - payroll service5 operdting lease rentals Trustees expenses 2,400 960 60,607 59,890 212 35 Travel expenses of £212 were paid lo three Iwslees during the year {2022-. £35 to one trustee). No tpustee r8ceived ar7y emoluments or other benefits during the y&ar {2022.' £nill- 5. TAXATION The company 15 a regislered charity and is exempt f rom corporation lax. 14 Citizens Advice Buckinghamshire Ltd Annual Report and Accounts 2023 & INCOME 2022123 2021122 restrict d Bucks Council - Corp Advice SeThice 495,780 430,780 Assets acquired from High Wycombe and Chiltem CABS on merger Other income 504.299 122.671 52,171 618,451 987.2SO Restrirted Money Matters 122,423 117,340 Money and Penslons Service Pension Wise 36,381 75,717 269,215 216.974 NL Adviceline (Future of Advice) Heart of Bucks 192,889 7.166 Benefits Advice (formerly Outreachl- NHS Oxford 45.CrfJ) 33,750 Debt Advite - BC Trailblazer 25.000 25,000 Debt Advice {formerly Debt Capacity Buildingl lincl. Rothschild E60,9371 Debt Advice Iformerly Advicelinel -The Clare Foundation Debt Advice {formerly Morley Adwcel - We are Digital Debt Advice IfonTrerly Money Advice) - Paradigm Energy Advice Other restrTCted funds 60,937 94,063 20,(K)O 20,000 338 12,056 30,¢X 30,OCM) 8,390 9.780 28,980 Chiltem Fiiodbank 13.268 Santsnder 8,334 BC - Cost of Living Talkback 22,350 2,332 Cardiomyopathy Money Advice - People's postcode lottery Money Advice - BC Caseworker 19,446 6,566 Money Advice - Winslow Town Counci Outreach & home advice {forme￿V Home Visitiri81- BACA8 Adwceline-other 12,500 25,000 ,000 Help to claim Iformerly Univers31 Credit/Supportl Assets acquired from High Wtycombe and Chiltem CABS merger 120,604 74.728 866.423 937,504 Total voluntary income 1,484,874 1,924,754 15 Citizens Advice B￿kinghaMShire Ltd Annual Report and Accounts 2023 7. CHARITABLE ACTIVITIES 2023 2022 (AI STAFF COSTS Salaries 1,103,898 973,150 Social security costs Pension costs 83.773 67,117 50,394 37,140 1,238,065 1.077,2107 The average monthly number of employees during the period was 55.1 {2022". 54.81. One employe8 was pak in excess of £60,000 d￿Ing the year (2022.. one). Kay management personnel received a lot81 employmert benefits of £167,26012022.. £142,343). No redundancy payments were made during the year {2022.' £25,150). 181 SUPPORT COSTS Telephone. IT and infomiatlon Consultancy & payroll fees Rent. rates and water 80,019 118,299 63,482 78,305 60,808 74,584 statlonery, equipment & office expenses Cleaning, repa￿ and maintenance Recuitment. travel and trnining 23,565 44,561 29,975 26,335 47.552 24,051 Insurance. heat, light & storage Publicity & Promotion 19,058 12,817 8,567 Sundry expenses Legal and professlonal fees Bank charges 1.143 14,367 1,890 3,778 113 205 336,172 397,302 16 Citizens Advice Buckingh8mshire Ltd Annual Report and Accounts 2023 8. GOVERNANCE COSTS 2023 2022 Audit 20,100 10,800 Trustee expenses 212 35 Other 102 1,535 20,414 12,370 9. DEBTORS 2023 2022 Debtors Zl.215 Other debtors 33.329 Prepayments and accrued income 23.517 148.965 78,061 148.965 10. CREDITORS 2023 2022 Trade creditors 9,250 Deferred income 156,614 114.178 Taxation and soclal security 33,218 19,434 Pension creditor 9,085 5,338 Staff holiday pay accrual Other creditors and accruals 13,561 15,135 26,874 77,205 248,602 231,290 otizens Advice BUCkingh￿n$hire Ltd Annual Report and Accounts 2023 11. DEFERRED INCOME Income was deferyed in respect of furKling received %th8re th8 wort on the undeAying activities was not ompleled in Ihe financid year and th8 income was potenliajly relumable. 2022123 2021/22 Balance at l Apri12022 IN,178 109,506 Additions durin8 the year 156.614 170,047 Amounts released to income 1114,178} 1165,3751 Balance at 31 March 2022 156.614 114,178 12. PENSION COSTS Employees of the th￿ltY are entitled lo join a defined eontribution money purchase scheme. The charity's contribution is restricted to the conirfbutions disclosed in note 7 as "Other pension costs". The outstandirvJ contributions al the year4nd are disclosed in note 10. 13. OPERATING LEASES Annual minimum lease payments operating leases f811 due as Tollows: Annual minimurn lease payments underoperating leases fall due as follows.. 2023 2022 Within one year Within two and five years In more than five years 47,226 30.3 12,(100 These relate to the lesse of the cornpany's offices in Amersham, Ay18sbury, Buckingharn, Chesham aThJ High Wycombe. 14. RELATED PARTY TRANSACTIONS Durfng the year the Cha￿tY reGWV8d ro donatlDns wthout conditlons from other related parties (2021122.. rlll and none from Twsteas (2021122: £5,000). Ln fft Ln Eh LD r4 to ￿ Ln Ln r4 N co m Ln Lt) LTr Ln ¢oty or4 0 5 4X ¥ en Lft m o v m m r4 CJ e4 M m fn ¢ LQ r¥i ￿ Oi Ln r4 rrt O Lr) Ln Ln Jn 0 or& o CQ Lli Ln- )￿￿￿0 m Ln ) ¢J) Ln o ￿ c r¥i ¢ oi ¢ i w r Lrt O Ln o o r*) o o O I Uin O UCL £J tsa L Citizens Advi¢e BuGkinghamshire Ltd Annual Report and Accounts 2023 16. ANALYSIS OF FUNDS Bank and Cash Debtors Icreditors) Total Restrirted funds Unrestrftted funds -designated "general reseNes At 31 Marth 2023 7& 78.￿1 124&602) (248.6021 826,697 f&,156 At 31 March 2022 839,304 148,965 {231,29)) 756,979 17. MERGER ASSETS On the merger of the three Buckinghamshire bureaus. there were oneaoff a$set donations of £330,380 from CA High Wcomb8 and £248,647 from CA ChilEem in th8 Period 202112022. 18. MEMBERS LIABILITY Each member of the charity undertakes lo contribute such amount as may be requir￿, not exceeding £1, 10 the charity's as6ets if il Should be wound kFP while they are a member o r within one year after they cease to be a member. 21 Citi2ens Advice Buckinghamshir8 Ltd Annual Report and Accounts 2023 Independent Auditor's Report to the membe￿ and Trustees of Citizens Advice Buckinghamshire Ltd Oplnion We have audild the linancial statements of Citizens Advice Bucklnghamshire Ltd Ilhe 'charitable company'l for the year ended 31 March 2023 which comprise th2 Statement of financial activities, the balance sheet, the statement of cash flows, and the notes to the financial slatemenls, including a summary of signifiGaTrt accounting policies. The f Inancial reporting f ramework that has been applied in their preparation is applicab law and United Kingdom Accounting Standards, including Financial Reporting Standard 102.. The Financial Reporting Standard appllcable in the UK and Republic of Ireland Iunlted Kingdom GeneTally Accept&i Accourting Praclicel. In QUT opinion. the financial statements.. give a tTue and f airview of the slate of the charitable company's aff al￿ a5 at 31 March 2023 and of its incoming resources and application of resources Including ils incoffle 8nd expenditure for the year then ended; have been property prepared in 8ccord8nce with United Kingdom Generally Accepted Accountirg Practice., have beèn prepar￿ accord8nce ￿th the requlrements of the Compani8s Act 2006. Basls for opinion We conducted our audit in accordance wth Intemational Standards on Auditing {UK) IISAS IUK)) and applicable law. Our responsibilities undertho5eslanda￿lS are further described in th8 Audilorfs responsibilitie5 for Ihe audit of the financial statements section of our report. We are independent of the charflable company in accordance wth the ethical requirements th¥t are relevant to our audit of the f inancial statements in the UK, including the FRC'S Ethical S18ndard, and we have fulfilled our other eihical responsibilities in accordance Mrith thesp requirements. We believe ihal th8 audit evidence we have obtained is suff icient and appropriate to provide a basis for our opinion. Condusions relating to golng concern In auditing the financial statements, we have Concluded that the trustees, us8 of the going concem basis of ac¢ounting in the preparation of the financial statements is appffJpriate. Based on Ihe WO￿ we have perfomied. we have not identlfied any materfal uncertalnlles relating to events or condltions that, individually or colleGtively, may cast slgnWIGanl doubl on the chwtable company's ability to continue as 8 going concom fora period of 01 leasl twelve months frorn when the fln8nclal statements are 8Uthorised for issue. Our responsibilities and the responsibilities of the trustees wth r8spect to going ooncem are described in the relevant 5eGtions of thi5 report. Other information The Injstees are responsible for the other inlDnnalion. Th8 0th8r inf ormalion comprises the infomiats'on inGluded in the annual report other than the financial statements and our audilorfs report Ihereon. Our opinion on the financial statements does nol cover the other infO￿allOn and, except to the exlenl olherwse explicit stated in our report, do not express any fomi of assurance GonGIusiDn Ihereon. In connection vAth our audit of the financial ststements, our responsibih'ty is lo read the other infomiation and, in doing su, consider whether the other inf omiation is mateiially inconsistent wth the financial statements, or our knovledge obtained ill the audit or otherwise appear5 to be materially misstated. If we identify such material inGonsislonci05 or apparent material misstatements, ￿ are required to deterrnine whether there is material misslalemenl in the [inar￿la1 statements or a Tnalerid misslatemenl of the other information. tf, based on the work we have perfoTTn8d, we GonGlud8 that there is a mal8rial ntisslatement of this Oth￿ infornalio W8 rgquir8d to report that fact. Wa hav• nothing to report in this regard. 22 Citizens AdviG6 Buckinghamshire Ll Annu81 Report ￿ AccoL*nts 2023 Oplnlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the COLtrse of the audit.. the infomiation given in the InJslees' report {incorporaling thè dir8Ct0￿, report) for the financial year for which th8 f inancial statements are prepared is consistent wth the financial slatemenls- and the Iwslees, report (incorporating the di￿GtOrs, reporl) has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not idenlified material misst8tements in the twstees. report. We hav& nothing to report in respect of the f ollowng matters in relation to thich the Companies Act ￿)( requires us to report lo you if. in our opinion.. adequate and suff icient accounting tBcords have not been ke4Jt, or retums adequate for ouraudit have not been ￿ceiVed from branches not visited by us,. or the financial statements a￿ not in agreemenl wth the accounting records and rtums. or certain disclosures of tntstees, remuneration specified by law are not mad6', or we have not obtained all the information and explanations necessary for the purposes of our audit. or the tTUStees were rKJI entitl￿1 to take advantage of the small companies, exemptions in preparing the Injslee's report and from the requirement to prepare a slTrtegic report. Responsibilities of the trustees As explained more fully in the trustees, responsibilities statement, the twslees are responsible for the preparation of the financial statements and forbeing satisf led that they give a tNe and fairview, and forsuch Intemal control as they detemine is necessary to enable the prepar8tlon of flnanclal st8tements that 8r8 f ree f rom material misstatement, whether due to fraud or e￿or. In preparing the financial stalemenls, Iwstees are responsible for assessing the charttable company's ability to continue a8 a going concem, disclosing, as applicable. mallws related lo going concem and using the going toncem basis of accounting L5ntess the tru51ees èither Intend lo liquidate the chBritable compary or lo cease operdlions. or have no realistic aftemalive but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whelher the financial slalements as a Mthol8 arg fr8e Irom m8teFial misstst8ment, thether du8 to fraud or error, and lo issue an audilorfs report that includes our opinion. Reasonable assurance is a high ￿e1 of assurance, but is not a guarantee that an audit conducted in accorcsance wth ISAS IUKI wll always detect a mgterial misstalemenl when it exists. Misstatements can aris8 f rom freud or error 8nd are considered material if, individually or in the aggregate, Ih8y could reason8bly be expected to influence the economic decisions of u8er3 taken on Ihe basis of thesej financial stalement3. A further description of ourrB3ponsibilities forthe audit of the financial statements is located on the Financial Reporting Council's websile al: vMw.f rc.org.uklauditorsresponsibilities. This description fomis part of our auditorfs report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance wlh laws and regulalions. We design procedures in line ￿th our responsibilities. outlined above and on the Financial Reporting Council's website. to éetect material misststements in respect of irregularities, including fraud. We obtain and update OurUnde￿1andlrrfj of the charitable Company, ils activities, rts control environment, arKI likely futtjre developments, including in relation lo the lega and regulatory frameworf( applicable and how the entity is complying wlh that f ramewortt. Based on this unéerslanding. we identify and 88$6ss the risks of malerial miSstatem￿t of the financlal slatements, whether dLJe lo f raud or error, deslgn and perform audit procedures responsrve to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of ihe risk of acts by the charitsble company that were contrary to applicable law5 and regulations. including fraud. In response to the risk of iryularities and rFoll-compliance with laws and regulations. including fraud, we designed pioCedu￿ bthich included." Enquiry of management and those charged with govemance arouThl actual and potential liligationand 23 Cilizens Advice Buckinghamshire Ltd Annu81 Report and Accounts 2023 clam5 as well as actual, suspecleé and alleged fraud-, Reviewing minutes of meetings of those charge(I with govemance., Assessing the exlenl of compliance with the laws and regulations Gonsidered to have 8 direct materfal effect on the financial slalements or the operations of the Gh&ilable company through 8nqulry and ir￿pectiOn., ReviewThJ financlal statement disclosur8s and lesllng to supporting docurnentalion to assess compliance with applicable laws and regulations.. Perfonming audil woth overthe risk of management bias and override of controls, Including leslro of joumal 8nlries and other adjustments for approprialeness. evaluating the business r8tionale of signrficanl Irans8Ctions outside the nomial course of business and rBviewing accounting estimates for indicators of potential bias. B￿ause of the inherent limitations of an audit, there is a risk that we wll not detect all ijregularities, inclLtd ing those leading lo a material misslatemenl In th8 financial statements or non