## **CITIZENS ADVICE BUCKINGHAMSHIRE LTD**
## **ANNUAL REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
**COMPANY NO: 06693405**
**CHARITY NO: 1126825**
Citizens Advice Buckinghamshire Ltd
Annual Report and Accounts 2024
## **CITIZENS ADVICE BUCKINGHAMSHIRE LTD**
Contents of Annual Report and Accounts
For the Year Ended 31 March 2024
||Page|
|---|---|
|Legal and Administrative Information|2|
|Report of the Directors/Trustees|3|
|Statement of Financial Activities|8|
|Balance Sheet|10|
|Cash Flow|
11|
|Notes to the Financial Statements|12|
|Independent Auditors Report|22|
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Citizens Advice Buckinghamshire Ltd
Annual Report and Accounts 2024
## **CITIZENS ADVICE BUCKINGHAMSHIRE LTD**
## Legal and Administrative Information
Year Ended 31 March 2024
## **Directors/Trustees:**
Jane Mordue Chair Farrukh Siddiqi Treasurer Philip Bruce Diana Davis Julian Ingram Karen Satterford Susan Webster Lesley Wilkin Lindsey Fealey
(appointed 15[th] November 2023)
Tessa Castle Lilia Dangi Nahaida Khatun
(resigned 27[th] April 2023) (resigned 29 September 2023) (resigned 9[th] August 2023)
## **Chief Officer:**
**Chief Officer:** Thalia Jervis Alice Copping Alice Copping Craig Glynn **Registered Office:** 2 Pebble Lane Aylesbury Buckinghamshire HP20 2JH **Company Number:** 06693405 **Charity Number:** 1126825 **Independent Auditors:** Azets Audit Services Suites B & D Burnham Yard Beaconsfield Buckinghamshire HP9 2JH **BANK:** CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ
(resigned 22[nd] September 2023) (appointed 8[th] November 2023) (resigned 31[st] March 2024) (appointed 1[st] June 2024)
**WEBSITE:** https://citizensadvicebucks.org.uk/
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Annual Report and Accounts 2024
## **REPORT OF THE DIRECTORS/TRUSTEES for the year ended 31 March 2024**
The directors of the charity present their report and accounts for the year ended 31 March 2024 which also meet the requirements for a directors’ report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2022, the Companies Act 2006, the Articles of Association, and Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Citizens Advice Buckinghamshire is registered as Citizens Advice Buckinghamshire Limited, company number (06693405) and its registered charity number is 1126825. It was renamed following the merger of the three previous Citizens Advice bodies in April 2021, having previously been named Citizens Advice Aylesbury Vale (2017) and Aylesbury and District Citizens Advice Bureau (2008).
The charitable company was established under a Memorandum of Association which set out its objectives and powers and is governed under its Articles of Association. The Articles were updated in May 2023 to reflect changes in the Charities Act 2022. It is a member of the National Association of Citizens Advice Bureaux (Citizens Advice) and is subject to regular quality audits as part of its membership requirements.
## **APPOINTMENT OF DIRECTORS/TRUSTEES**
The directors of the company are also trustees of the charity for the purposes of charity law as defined by section 177 of the Charities Act 2011 and under the Company’s Articles are known as members of the Trustee Board. Under the requirements of the Articles of Association, elected directors serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
Directors who served during the year are listed on the Administrative Information Page. They were recruited either from the previous, merged, organisations or by advertising vacancies through a specialist website and personal contact. All were interviewed by existing members of the trustee board.
New directors receive induction training, which cover Citizens Advice services and it aims, principles and policies. Trustees are given introductory information and can spend time meeting with staff and volunteers. There are explanations of the role of a director/trustee, the board, the business development plan, and issues including funding. They undertake mandatory training as necessary.
## **PRINCIPAL ACTIVITY**
The principal activity of the company was the operation of a Citizens Advice service with offices in Amersham, Aylesbury, Buckingham, Chesham and High Wycombe, with some outreach and a growing service online. CA Bucks gives free, independent and confidential advice to members of the public and is in a unique position to campaign for change when social injustices arise, based on real time information on current issues.
## **RELATED PARTIES**
Citizens Advice Buckinghamshire is a member of the National Association of Citizens Advice Bureaux, company number 01436945 and registered charity no. 279057, known as Citizens Advice.
## **VISION, MISSION AND VALUES**
## **Vision**
To build a better Bucks, a caring community that responds when people need help. We know our services can transform our clients’ lives – practically, financially and emotionally. And if our clients’ lives are better, our communities, both urban and rural, are better and so is our county.
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## **Mission**
- To focus help on those most in need, at risk, deprived and most vulnerable.
- To help our clients resolve as many issues as we can by empowering them where possible and supporting where there is need.
- To raise money to fund our services to meet the demand across the county.
- To use technology to help us meet our clients’ needs more efficiently and effectively.
## **Values**
Professional – Respect – Kind – Friendly – Client-centred.
## **REVIEW OF 2023-24**
This year saw our best results for the service we provide to Buckinghamshire residents since merger. Volunteer numbers remained good and quality levels were high. The challenge continued to be unrelenting demand for our advice and a very competitive funding environment.
Cost-of-living and inflation continued to pressure our clients who were already behind the curve from the previous year. There was a 27% increase in the number of issues which clients presented with, and a 71% increase in successful outcomes for them. We achieved an income gain of £2,716,049 for our clients, an 84% increase on the previous year. Most importantly, clients told us that 83% of them would not have been able to sort their problem without our help; and only a third felt that we had not helped them feel better, mentally and physically.
In other words, we are doing what we hoped, getting people’s lives back on track, helping them back into the community to be active and positive. And lessening the pressure on all public services be it health, adult and child social care or even the justice system.
All this would not have been possible without our hard-working and highly trained volunteers and we are grateful to all for their dedication and commitment. Supported by staff in more specialist case work and by supervisors to ensure we get it right, our volunteers are the backbone of what we do. This also includes wider roles for volunteers in administration and fund-raising.
Buckinghamshire Council confirmed that the grant with them would cease from summer 2024 and we would need to bid for support for our debt and benefits work. There will be a full report on this in the next year’s Directors’ report but suffice to say, our bid was subsequently successful, providing us with a firm basis going forward.
## **FINANCIAL REVIEW**
## **Overview**
Total income: £1,646,251 Total expenditure: £1,691,540 Surplus / (Deficit) (£45,289)
## **Reserves**
Unrestricted Reserves: £604,185
Citizens Advice Bucks reserves policy aims to maintain unrestricted reserves which reflect the cash needs of the 3 year business plan and are likely to be for 3 months of forecast expenditure.
## **Investment policy**
The directors aimed to maximise the interest earned on charity funds by minimising current account balances and maximising the amounts held on deposit.
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## **Going Concern**
After reviewing the organisation’s budgets and business plan, taking account of the current economic climate and its reserves position, the directors have a reasonable expectation that the organisation has adequate resources to continue in operational existence for the foreseeable future. They continue to adopt the going concern basis in preparing the financial statements.
## **Principal Risk and Uncertainty**
The directors are responsible for risk management. A comprehensive annual planning and budgeting process is approved by the board, during which a thorough assessment of our key external and internal risks is undertaken, together with how these risks are being managed. In addition, the board received regular reports from the Finance and Risk Committee which receives risk registers from senior management. They assess the adequacy of internal control systems and risk management processes in place. The board reviews 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 following to be the principal risks and uncertainties for CA Bucks and the action we take to manage those risks.
- Failure to maintain a strategic focus: mitigated by our business plan; effective board management and performance monitoring and a strategic transformation plan. This year 4 strategic criteria were added to aid assessment of new strategic options presented in a faster moving environment
- Change management resulting in loss of staff and volunteers: mitigated by good communication of strategy; staff/volunteer engagement; recruitment and training; involvement in strategic planning. This year a push on volunteer recruitment increased the number of volunteers back to pre-pandemic levels.
- Poor quality of advice resulting in reputational damage, complaints, action: mitigated by well-developed training plans; appropriate support; action taken to address poor quality advice and consistent quality checking processes. This year the risk rating was reduced to reflect ongoing good standards.
- Failure to meet needs of stakeholders resulting in loss of funding: mitigated by effective engagement; effective performance measure. This year further development of fund-raising saw a steady base of funding achieved despite challenging external conditions.
- Not meeting funding targets and needing to use reserves: mitigated by the fund-raising team and clear financial planning; aim to develop multi-year funding and diversification of courses/opportunities; effective service delivery planning. This risk was increased to reflect the funding environment and current forecasts. Mitigations to include review of recruitment and costs.
## **PRINCIPAL FUNDING SOURCES**
The principal sources of funding received in the year was the grant for Core Advice Service of £545,050 from Buckinghamshire Council, and a diverse range of funding from other sources.
## **PUBLIC BENEFIT**
The directors confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.
## **ACKNOWLEDGEMENTS**
We are tremendously grateful to every funder who has made our work possible this year and would especially like to thank the following:
Buckinghamshire Council, National Lottery Community Fund, the DWP, Santander UK Foundation, Rothschild Foundation, Chiltern Foodbank. Paradigm, Oxford Healthcare Trust, The Clare Foundation, BACAB, Heart of Bucks Community Foundation, The Thomas Hickman Charity, The William Harding Charity and many more.
We would also like to thank each of the Parish and Town Councils who have recognised the importance of maintaining our service in their community and supported us including Winslow Town Council, Marlow Town
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Annual Report and Accounts 2024
Council, The Ivers Parish Council, High Wycombe Town Committee, Great Missenden Parish Council and Buckingham Town Council.
## **STATEMENT AS TO THE DISCLOSURE OF INFORMATION TO AUDITORS**
So far as the directors are aware, there is no relevant information of which the charitable company’s auditors are unaware and each director has taken all the steps that they ought to have taken as a director in order to make them aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.
## **APPROVAL**
These financial statements have been prepared in accordance with the Companies Act 2006 and the Charities SORP (FRS102).
Approved by the board on 14[th] August 2024 and signed on their behalf by
…………………………………… **Jane Mordue** Chairman
Dated: 14[th] August 2024
.
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Annual Report and Accounts 2024
## **STATEMENT OF TRUSTEE RESPONSIBILITIES**
The directors are responsible for preparing the directors’ report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, 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 them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- Prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **Citizens Advice Buckinghamshire Ltd Statement of Financial Activities for the year ended 31 March 2024**
|**Citizens Advice Buckinghamshire Ltd**
**Statement of Financial Activities**
**for the year ended 31 March 2024**||
|---|---|
|**Notes**
**INCOME AND EXPENDITURE**
**Incoming Resources**
Incoming resources from generated funds:
Grants
6
Donations and Fundraising
6
Investment income
Other income
Total income - Core Service
Pension Wise
18
**Total Incoming Resources**
**Resources Expended**
Charitable activities
Payroll
7
Support costs
7
Charitable activities total
Governance costs
8
**Total Resources Expended**
**Net Income/Expenditure**
**Transfers between funds**
**Net Movements in Funds**
**Total Funds brought forward**
15
**Total Funds carried forward**
15|**Unrestricted**
**Restricted**
**TOTAL**
**2022/2023**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
**717,867**
**569,264**
**1,287,131**
1,197,560
**44,423**
**-**
**44,423**
18,099
**15,219**
**-**
**15,219**
6,663
**2,018**
**-**
**2,018**
2,291|
||**779,527**
**569,264**
**1,348,791**
1,224,613
**-**
**297,460**
**297,460**
269,215|
||**779,527**
**866,724**
**1,646,251**
1,493,828|
||**539,995**
**784,244**
**1,324,239**
1,238,065
**157,817**
**191,313**
**349,130**
336,172|
||**697,812**
**975,557**
**1,673,369**
1,574,237
**8,700**
**9,471**
**18,171**
20,414|
||**706,512**
**985,028**
**1,691,540**
1,594,651|
||**73,015**
**(118,304)**
**(45,289)**
(100,823)
**(105,078)**
**105,078**
**-**
**-**|
||**(32,063)**
**(13,226)**
**(45,289)**
(100,823)
**636,248**
**19,908**
**656,156**
756,979|
||**604,185**
**6,682**
**610,867**
656,156|
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Annual Report and Accounts 2024
## **Citizens Advice Buckinghamshire Ltd Statement of Financial Activities for the year ended 31 March 2023**
|**Notes**
**INCOME AND EXPENDITURE**
**Incoming Resources**
Incoming resources from generated funds:
Grants
Donations and Fundraising
Assets donated from CA High Wycombe
17
Assets donated from CA Chiltern
17
Voluntary income total
6
Investment income
Other income
**Total Incoming Resources**
**Resources Expended**
Charitable activities
Payroll
7
Support costs
7
Charitable activities total
Governance costs
8
**Total Resources Expended**
**Net Income/Expenditure**
**Transfers between funds**
**Net Movements in Funds**
**Total Funds brought forward**
15
**Total Funds carried forward**
15|**Unrestricted Restricted**
**TOTAL**
**2021/2022**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
**600,352**
**866,423**
**1,466,775**
1,332,494
**18,099**
**-**
**18,099**
13,233
**-**
**-**
**-**
330,380
**-**
**-**
**-**
248,647|
|---|---|
||**618,451**
**866,423**
**1,484,874**
1,924,754
**6,663**
**-**
**6,663**
421
**2,291**
**-**
**2,291**
440|
||**627,405**
**866,423**
**1,493,828**
1,925,615|
||**461,246**
**776,819**
**1,238,065**
1,077,407
**163,423**
**172,749**
**336,172**
397,302|
||**624,669**
**949,568**
**1,574,237**
1,474,709
**9,537**
**10,877**
**20,414**
12,370|
||**634,206**
**960,445**
**1,594,651**
1,487,079|
||**(6,801)**
**(94,022)**
**(100,823)**
438,536
**(61,343)**
**61,343**
**-**
-|
||**(68,144)**
**(32,679)**
**(100,823)**
438,536
**704,392**
**52,587**
**756,979**
318,443|
||**636,248**
**19,908**
**656,156**
**756,979**|
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Annual Report and Accounts 2024
## **Citizens Advice Buckinghamshire Ltd Company Number 06693405 Balance Sheet at 31 March 2024**
|||**2023/2024**|**2023/2024**|2022/2023|2022/2023|
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|||**-**||**-**|
|**CURRENT ASSETS**||||||
|Debtors|9|**82,816**||78,061||
|Cash at bank and in hand||**687,556**||826,697||
|||**770,372**||904,758||
|**CREDITORS**||||||
|Amounts falling due within one year|10|**159,505**||248,602||
|**NET CURRENT ASSETS**|||**610,867**||656,156|
|**TOTAL ASSETS LESS CURRENT LIABILITIES**|**TOTAL ASSETS LESS CURRENT LIABILITIES**||**610,867**||656,156|
|**THE FUNDS OF THE CHARITY**||||||
|Unrestricted funds||||||
|-general reserve|15||**604,185**||636,248|
||||**604,185**||636,248|
|Restricted funds|15||**6,682**||19,908|
||||**610,867**||656,156|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The accounts were approved and authorised for issue by the Board of Directors on 14[th] August 2024 and were signed on its behalf by:
## Gane Wlordiw
**Jane Mordue - Chairman**
**Farrukh Siddiqi - Treasurer**
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Annual Report and Accounts 2024
## **Citizens Advice Buckinghamshire Ltd Statement of Cash Flows for the year ended 31 March 2024**
|**Cash flows from operating activities**
Net income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash (used in) operating activities**
**Cash flows from investing activities:**
Dividends, interest and rent from investments
Proceeds from sale of fixed assets
Purchase of fixed assets investments
**Net cash (used in) investing activities**
**Change in cash and cash equivalents in the year**
**Cash and cash equivalents at the beginning of the year**
**Cash and cash equivalents at the end of the year**|**2024**
**£**
(45,289)
-
(15,219)
(4,755)
(89,097)|2023
£
(100,823)
-
(6,663)
70,904
17,312
(154,360)
6,663
-
-
-
15,219
(139,141)
826,697
687,556|(19,270)
6,663|
|---|---|---|---|
||15,219
-
-|||
|||||
||||(12,607)
839,304|
||||826,697|
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Annual Report and Accounts 2024
## **Notes to the Financial Statements**
## **1. COMPANY STATUS**
Citizens Advice Buckinghamshire Ltd (formerly Citizens Advice Aylesbury Vale) is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office can be found on the company information page. The presentation currency of the financial statements is Pound Sterling (£).
## **2. ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of the financial statements are as follows:
## **Accounting convention**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with: the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019), Charities SORP (FRS 102), the Charities Act 2022, and the Companies Act 2006.
## **Preparation of the accounts on a going concern basis**
The Board has considered the future of the organization and assessed the financial position on 31st March 2024. Given the current level of reserves, the continuing service level agreement for 2024/25 and the expectation that the main sources of funding will continued without any significant reduction, the Board is confident that the organisation will continue to be a going concern for the 12 months after these accounts are approved.
## **Recognition of income and expenditure**
All incoming resources are included in the statement of financial activities when the charity is entitled to, and virtually certain to receive, the income and the amount can be quantified with reasonable accuracy and all performance criteria have been met. Expenditure is recognised on an accrual basis as a liability is incurred. Irrecoverable VAT is charged against the activity for which the expenditure was incurred.
## **Allocation of Support Costs**
Support costs are those functions which support the charity in carrying out its main activities. Accordingly each funded activity has to bear a proportion of these support costs to reflect the full cost of undertaking the work. Support cost are allocated to activities based on staff time and any specific cost items agreed with the funder.
## **Pension contributions**
The charity operates a defined contribution pension scheme. Contributions payable to the 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 and are depreciated on a straight line basis over the useful life of the asset. Items with value of less than £1,000 are expensed in full in the year of acquisition.
## **Unrestricted Funds**
Unrestricted reserves are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
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## **2. ACCOUNTING POLICIES (continued)**
## **Cash at bank and in hand**
Cash at bank and in hand refers to amounts which are held by the business in the form of notes and coins (e.g. petty cash) or which are held at a bank in the form of on-demand deposits such as current accounts and savings accounts.
## **Debtors**
Debtors and prepayments are recognised at the settlement amount due or paid.
## **Creditors**
Creditors and provisions are recognised where the charity has an obligation which will result in the transfer of funds to a third party and the amount can be measured or estimated with reasonable accuracy. Deferred income is income received in advance of the associated work being performed.
## **Redundancy and termination payments**
Redundancy and termination payments are recognised when formal notice has been given to the employee(s) concerned.
## **Operating Leases**
Rentals payable under operating leases are charged on a straight line basis over the term of the lease.
## **Government grants**
Government grants are recognised in the income statement so as to match them with the expenditure towards which they are intended to contribute.
## **Restricted Funds**
Funding received for a particular project is kept in a restricted fund and spent on salaries and associated costs relating to that project. In addition support costs are allocated as noted above.
## **3. MAJOR FUNDERS**
## **Buckinghamshire Council**
Buckinghamshire Council, as the successor to the District Councils, provides the core funding for the advice service. This has been rolled forward to end of March 2024.
**The National Lottery Community Fund - Money Matters and Future of Advice**
The funding for these debt advice projects is provided by the National Lottery Community Fund under the programme RC London and South East Region. The funding for these projects help deliver debt advice and build financial capability as well as building volunteer and advice capacity and funding digital transformation.
## **Pension Wise**
Pension Wise provides free, impartial pensions guidance on clients’ pension options.
## **Santander UK Foundation**
Funding for digital and financial empowerment and response to cost of living crisis.
## **The Rothschild Foundation**
Funding towards core costs.
## **The William Harding Charity and The Thomas Hickman’s Charity**
Long term supporters providing funding to support to support residents living in Aylesbury.
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## **Parish and Town Councils**
A number of local councils (town and parish) have also provided funds which in turn has enabled outreach and other services to be delivered in various locations.
## **Funding from other local organisations**
Other funding for specific & core services comes from other local organisations, such as Paradigm Housing, Oxford Healthcare Trust, Chiltern Foodbank, Buckingham Area Community Advice Bureau, The Clare Foundation, The Tony & Sheelagh Williams Charitable Foundation and Heart of Bucks Community Foundation.
## **Unrestricted Funds**
Other material grants and funds received are unrestricted as to purpose and have been used to provide the Core Services.
## **4. OPERATING SURPLUS**
|**4. OPERATING SURPLUS**|||
|---|---|---|
|The net income resources is stated after charging:|||
|Audit|18,000|20,100|
|Accountants - payroll services|2,400|2,400|
|Operating lease rentals|60,300|60,607|
|Trustees expenses|-|212|
No travel expenses were paid to the trustees during the year (2023: £212 to three trustees). No trustee received any emoluments or other benefits during the year (2023: £nil).
## **5. TAXATION**
The company is a registered charity and is exempt from corporation tax.
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## **6. INCOME**
|Unrestricted
Bucks Council - Core Advice Service
Other income
Restricted
Money Matters
Money and Pensions Service
NL Adviceline (Future of Advice)
Heart of Bucks
Benefits Advice - NHS Oxford
Debt Advice - BC Trailblazer
Debt Advice (formerly Debt Capacity Building) (incl. Rothschild £60,937)
Debt Advice (formerly Adviceline) -The Clare Foundation
Debt Advice (formerly Money Advice) - We are Digital
Money Advice (formerly Debt Advice) - Paradigm
Energy Advice
Chiltern Foodbank
Santander
BC - Cost of Living
Talkback
Cardiomyopathy
Cita Funding
National citizens Advice - remote service delivery
The Clare Foundation
Fairhive Thriving Communities Fund
Shanly
Mobbs Memorial Trust
National Lottery Cost of living grant (plus £32,500 in unrestricted)
BC Household support fund (Money Advice)
Thames Water Trust via Citizens Advice West Northampton and Cherwell
Total income - Grant, Donations and Fundraising|**2023/24**
**2022/23**
**£**
**£**
545,050
495,780
217,240
122,671
**762,290**
**618,451**
51,202
122,423
-
36,381
91,342
192,889
17,415
7,166
45,000
45,000
-
25,000
-
60,937
-
20,000
-
338
38,850
30,000
-
8,390
32,375
13,268
50,000
8,334
44,700
22,350
27,980
2,332
5,600
2,400
17,000
-
31,125
-
3,300
-
10,000
-
2,500
-
2,000
-
42,500
-
50,000
-
6,375
-
569,264
597,208
**1,331,554**
**1,215,659**|
|---|---|
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Annual Report and Accounts 2024
## **7. CHARITABLE ACTIVITIES**
|**(A) STAFF COSTS**
Salaries
Social security costs
Pension costs|**2024**
**2023**
**£**
**£**
1,176,895
1,103,898
84,355
83,773
62,989
50,394
1,324,239
1,238,065|
|---|---|
The average monthly number of employees during the period was 57 (2023: 55). No employee was paid in excess of £60,000 during the year (2023: one). Key management personnel received a total employment benefits of £180,194 (2023: £167,260). Included in the payroll costs are ex gratia payments of £12,750 (2023: _£0)._
|**(B) SUPPORT COSTS**
Telephone, IT and information
Consultancy & payroll fees
Rent, rates and water
Stationery, equipment & office expenses
Cleaning, repars and maintenance
Recruitment, travel, training and events
Insurance, heat, light & storage
Fundraising events
Publicity & Promotion
Project expenses
Sundry expenses
Legal and professional fees
Bank charges|**2024**
**£**
74,319
51,424
69,447
21,350
34,688
68,138
17,049
3,260
1,861
2,400
4,145
935
114
349,130|**2023**
**£**
80,019
63,482
60,808
23,565
29,975
47,552
19,058
-
8,567
-
1,143
1,890
113|
|---|---|---|
|||336,172|
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Annual Report and Accounts 2024
## **8. GOVERNANCE COSTS**
|Audit
Trustee expenses
Other|
|**2024**
**£**
18,000
-
171
18,171|**2023**
**£**
20,100
212
102|
|---|---|---|---|
||||20,414|
|**9. DEBTORS**||||
|Debtors
Other debtors
Prepayments and accrued income|
|**2024**
**£**
**38,923**
**26,682**
**17,211**
**82,816**|**2023**
**£**
21,215
33,329
23,517|
||||78,061|
|||||
|**10. CREDITORS**||||
|Trade creditors
Deferred income
Owing to/(from) payroll
Pension creditor
Staff holiday pay accrual
Other creditors and accruals||**2024**
**£**
**6,366**
**73,184**
**26,809**
**8,242**
**15,181**
**29,723**
**159,505**|**2023**
**£**
9,250
156,614
33,218
9,085
13,561
26,874
248,602|
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Annual Report and Accounts 2024
## **11. DEFERRED INCOME**
|Balance at 1 April 2023
Additions during the year
Amounts released to income
Balance at 31 March 2024|**2023-2024**
2022-2023
**£**
£
**156,614**
114,178
**73,184**
156,614
**(156,614)**
(114,178)
**73,184**
156,614|
|---|---|
Income was deferred in respect of funding received where the work on the underlying activities was not completed in the financial year and the income was potentially returnable.
## **12. PENSION COSTS**
Employees of the charity are entitled to join a defined contribution money purchase scheme. The charity’s contribution is restricted to the contributions disclosed in note 7 as “Pension costs”. The outstanding contributions at the year-end are disclosed in note 10.
## **13. OPERATING LEASES**
Annual minimum lease payments under operating leases fall due as follows:
|Within one year
Within two and five years
In more than five years|**2024**
**2023**
**£**
**£**
49,550
47,226
49,500
12,000
-
-|
|---|---|
These relate to the lease of the company's offices in Amersham (lease terminated March 2024), Aylesbury, Buckingham, Chesham and High Wycombe.
## **14. RELATED PARTY TRANSACTIONS**
During the year the charity received no donations without conditions from other related parties (2022/23: nil) and £5,500 from Trustees (2022/23: nil).
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Annual Report and Accounts 2024
## **15. MOVEMENT OF FUNDS**
|**Restricted Funds**
03 NL Money Matters (Money Advice & Financial Capability)
10 Money (formerly Debt) Advice
05 Pension wise Pension Advice)
06 NL Advice (Telephone Advice & web Chat)
07 Heart of Bucks (Benefits & General Advice)
09 Benefits Advice
13 Chiltern Foodbank (Food vouchers, Benefits & Debt Advice)
14 Santander (Digital & Financial Capability)
15 BC Cost of living DC bridging (Debt Advice)
16 Talkback (Benefits & General Advice)
17 Cardiomyopathy (Benefits Advice)
18 Cita Funding (Generalist Advice & telephone)
19 National citizens Advice - remote service delivery (Generalist Advice & Telephone)
19 The Clare Foundation (Generalist Advice)
19 Fairhive Thriving Communities Fund (Money Advice)
19 Shanly (Disability benefits access)
19 Mobbs Memorial Trust
20 National Lottery Cost of living grant (Generalist Advice)
21 BC Household support fund (Money Advice & Benefits)
22 Thames Water Trust (Money advice)
**Unrestricted Funds**
General:
General reserves
BC - Core Advice service|**Balance**
**Income Expenditure**
**General**
**Balance**
**b/fwd**
**subsidy**
**c/fwd**
**£**
**£**
**£**
**£**
**£**
479
51,202
(60,083)
8,402
-
11,093
44,683
(62,386)
6,610
-
-
297,460
(339,340)
41,880
-
8,336
91,342
(100,782)
1,104
-
-
11,582
(13,799)
2,217
-
-
45,000
(44,693)
-
307
-
32,375
(37,775)
5,400
-
-
50,000
(55,963)
5,963
-
-
44,700
(46,468)
1,768
-
-
27,980
(37,333)
9,353
-
-
5,600
(7,044)
1,444
-
-
17,000
(19,202)
2,202
-
-
31,125
(40,267)
9,142
-
-
3,300
(3,300)
-
-
-
10,000
(12,000)
2,000
-
-
2,500
(2,500)
-
-
-
2,000
(2,000)
-
-
-
42,500
(47,648)
5,148
-
-
50,000
(52,445)
2,445
-
-
6,375
-
-
6,375|
|---|---|
||19,908
866,724
(985,028)
105,078
6,682|
||636,248
234,477
(135,007)
(131,533)
604,185
-
545,050
(571,505)
26,455
-|
||636,248
779,527
(706,512)
(105,078)
604,185|
|||
||656,156
1,646,251
(1,691,540)
-
610,867|
The core service was funded by the Buckinghamshire Council service level agreement. The council also contributed to specific services and balances by £97,560 in 2023/24 (2022/23: £54,890).
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Annual Report and Accounts 2024
## **MOVEMENT OF FUNDS - PRIOR YEAR (2022-23)**
|**Restricted Funds**
08 Advice line
12 Projects restricted
03 NL Money Matters
10 Debt Advice
11 Energy Advice
04 MaPS
05 Pension wise
06 NL Advice line
07 Heart of Bucks
09 Benefits Advice
13 Chiltern Foodbank
14 Santander
15 BC Cost of living DC bridging
16 Talkback
17 Cardiomyopathy
**Unrestricted Funds**
General:
General reserves
BC - Core Advice service|**Balance**
**Income**
**Expenditure**
**General**
**Balance**
**b/fwd**
**subsidy**
**c/fwd**
**£**
**£**
**£**
**£**
**£**
-
-
(1,799)
1,799
-
2,160
-
(2,962)
802
-
1,001
122,423
(122,945)
-
479
40,000
136,275
(165,182)
-
11,093
2,653
8,390
(11,461)
418
-
-
36,381
(42,950)
6,569
-
-
269,215
(313,951)
44,736
-
6,773
192,889
(191,326)
-
8,336
-
7,166
(7,522)
356
-
-
45,000
(47,586)
2,586
-
-
13,268
(14,537)
1,269
-
-
8,334
(8,441)
107
-
-
22,350
(24,774)
2,424
-
-
2,332
(2,357)
25
-
-
2,400
(2,652)
252
-|
|---|---|
||52,587
866,423
(960,445)
61,343
19,908|
||704,392
131,625
(121,571)
(78,198)
636,248
-
495,780
(512,635)
16,855
-|
||704,392
627,405
(634,206)
(61,343)
636,248|
|||
||756,979
1,493,828
(1,594,651)
-
656,156|
The core service was funded by the Buckinghamshire Council service level agreement. The income also contributed to specific services and balances by £54,890 in 2022/23 (2021/22: £38,566).
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Annual Report and Accounts 2024
## **16. ANALYSIS OF FUNDS**
|Restricted funds
Unrestricted funds
-designated
-general reserves
**At 31 March 2024**
At 31 March 2023|**Bank and Cash**
**Debtors**
**(Creditors)**
**Total**
**£**
**£**
**£**
**£**
6,682
-
-
6,682
-
-
-
-
679,080
57,384
134,073
-
602,391|
|---|---|
||**685,762**
**57,384**
**134,073**
**-**
**609,073**|
||826,697
78,061
248,602
-
656,156|
## **17. MEMBERS LIABILITY**
Each member of the charity undertakes to contribute such amount as may be required, not exceeding £1, to the charity’s assets if it should be wound up while they are a member or within one year after they cease to be a member.
## **18. PENSION WISE**
Pension Wise is a subcontracted initiative, which is distinct and operates independently from Citizens Advice Bucks (CAB) core services.
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Annual Report and Accounts 2024
## **Independent Auditor’s Report to the Members and Trustees of Citizens Advice Buckinghamshire Ltd**
## **Opinion**
We have audited the financial statements of Citizens Advice Buckinghamshire Ltd (the ‘charitable company’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows, and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2024 and of its incoming resources and application of resources including its income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
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Annual Report and Accounts 2024
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the trustees’ report (incorporating the directors’ report) 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 identified material misstatements in the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and sufficient accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees’ remuneration specified by law are not made; or
- we have not obtained all the information and explanations necessary for the purposes of our audit; or
- the trustees were not entitled to take advantage of the small companies’ exemptions in preparing the trustee’s report and from the requirement to prepare a strategic report.
## **Responsibilities of the trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the charitable company, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the
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Annual Report and Accounts 2024
entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the charitable company through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **David Green MA (Cantab) FCA Senior Statutory Auditor For and on behalf of Azets Audit Services**
## **Chartered Accountants Statutory Auditor**
Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH
Date: ...........................
24