Comparry registratFon number." 02114435 Charity regislrdtion number.. 1135396 CITIZENS ADVICE NEWCASTLE LIMITED (A company limited by guarantee) Annual Report and Finanal Statements for the Year Ended 31 March 2022
Citizens Advice Newcastle Limited Contents Reference and Administrative Detai TnJsl&es' R8POrt 2to8 Independent Audrtors, Report 91011 statement of Financial Activities 12 Statement of Financial Actimlies 13 Balance Shèet 14 Statement of Cash Flows 15 Notes to the Financial Slalements 16to28
Citizens Advice Newcastle Limited Reference and Administrative Details Chief Executlve Offlcer T Armstrong Trust•os K Reed. Cha l MaGkinlosh. Chair A L Crawley. Treasurer A Carver C Hall (resigned 23 May 2022} IRHarris C C Irving S Jaidka C M Purdon S Parker (appointed 10 May 2021) F Haider {appoinled 12 Juty 2021 and resign8d 18 July 2022 Key Management Personnel S Alexander. Chief Executive T Armstrong, Head of Advice Services C Iredale. Head of Customer Services G Dryden, Businèss Manager RÈgi$tered Ofllce 4th Floor Cty Library Charles Avison Building 33 New Bridge Street Newcasle Upon Tyne NE18AX The charity i% incorporated in England and Wa. Charlty Registratlon Number 1135396 Auditor Audrt Services Chart8rpd Accountant & statukny Auditor Bulman House Regent Centre Gosforth Newcasue upon Tyne NE3 3LS Bankers Unity Trust Bank plc 4 Brindley Plar Bimiingham B12JB Compafty Reglstratlon Number 0211443S
Citizens Advice Newcaslle Limited Trustees. Report The Irusletss, who are directors for the purposes gf company law, present the annual report logelh8r wilh the financial stalprnents and auditors, report of Ihe charitatrk wmpany for the year ended 31 March 2022. structure, governance and management Nature of governing documont Citizens Advice Newcastle is a Charitable Company Limited by Guafanlee. The charity was originally formed in September 1939. and incorporated as a not-for-profit limtted charity on 23 March 1987, All references lo the "Charity. or "CompanK refer lo the Charitae Company. The Company was established under a Memordndum of Association whth sel out the objects and powers of the Charitable Cornpany and is governed under its Artic ofAsaociatk)n, last updated May 2022. The Memordndum and Artsdes of Associaknn stale that the Companls main objectives are "the advancement of education, the protection of heath and the relEf of povety, sickness and distress. This is achieved through the provision of fr8e, confidential, impartial and frePendent advi and infomiation for Ihg bengfil of the COfTtmunty. and by inlluenung the d8velopmenl of s¢xial policies which ensure individuals do not suffer through a lack of knoedge. or an inabilFty lo express their needs effectively. The Charity is organised so that the members meet wularty to manage ts affairs. The Chief Execukn've, wtro also Company Secretary. is responsible for the day40-day administration of the Charity, together wtth the staff management team. The workforce comprises a eombirtalion of paid staff and VDlunteers, and th8y provide all the Charitys seNices and adivities. Recrultment and appolntment of trnstees Th9 directors of the Company are also Charity truslees for the purposes of charity law and untjer the Companys Articles are known as members of the Trustee Board. UrTrd8r th8 requirements of th8 Memorandum and Artides of Association the members of the Trustee Board are elected to servè for a ricKI of three years aftor which they must be re-elected al the next General Meeting. Our Vicè Chair lan Mackintosh had lo step down temporarily and Richard Harris stepped in to cov8r thg role until lan was able lo return to ijuties. The Truste8 Board seeks lo ènsurè that thé noèds of the Charilvs dients are apprDpriat&ly refiected and met through thè diversity of the Trustee Board whth IndLJdes members with local charitable and voluntary agency knowledge. sound trAJsirs skills, profe&8ional experienc6 ar knowledge of working with stalulory agencies. Trustees are drawn from a cross section of different cultural and community backgrounds, and indude m6mbers With dibilItS.
Citizens Advice Newcastle Limiled Trustees. Report Induction and training of tntstees All new Trustees are provided with an induction which= informs them about their roles. responsibilities and liabilities- infom them about the current work of the Charity, the bUs1r$S and devek)pment plans" financial and staffing resources,. service quality standards and perfomiance, and project fijnding requirements. enables them to idenlify and utilise the parli¢ular kno%edge. skdls and experience which theii particular contribution brings tp the Trustee boanl: id&ntifies any further infDmialion, training or support Ihey miqhl require to fulfil their roles. • SupF)Orts and encourages them to develop new ski115 and experti which will banefil the charity. Organlsatlonal structure The activities of the charrtab Company are overseen by the Board of Trustees Ise6 page 11 and the Company Secretary. The Trustees recetve no remunerdtion ft)r thèir services and no trusloes were reimbursed for any expenses incuffed in the year. I the trustees. as listed on page 1. have undertaken to c4)ntributè an amoLJnt nol exceeding £1 towards any defiut arising in the event of the Charitable Company Eng wound up. This guarantee applies during the period of membership and extends for one year after mBmbership ceases. New Trustees are elected by tha Board or by the memters of the Charity in a general moeting. New membars are encouraged to attend all regular Board meetings to ensure that Ihgy are fully informed about the objeclwes and current acbvilies of the Chartty. Eac*h Trustee is encouraged and supported lo regulady review and update their Trustee skills and knowledge so Ihal tY are fully awarg of Iheir spongibilities as a Trustee of the Charity. Major risks and managprnent of those rlsks The Directors l Trustees are responsible for keeping proper o(rounting records, and saf8guarding th8 assets of the Charity. They continuouY assess the mapr risks whicth the Charity exposed to 2nd put in plac8 mib'gation ID remove, minimise and manage se risks, in parb"cular thos8 rglaliry lo finance and to the health, safety and wellbeing of all staff. volunl8grs and clignts. The Trustees have appointed one Trustoè lo be their-Risk Champion" and he has compi18d a spgcific Risk Regist8r which he maintains. He provides an updated Risk R8gist8r r8POrt for all Trustees lo consider at Board meetings.
Citizens Advice Newcastle Limited Trustees. Report Objectives and activtties Objects and alms Citizens Advice NeWstle is established for the purpose of benefiting the community of the Metropolitan Disthcl of Newcastle upon Tyne and the wider North East region. The Charity achievès this by advanryng the education of the public in matters relakn.ry lo mental, physical and social welfare, and by lieVIng poverty and distress. Citizens Advi Newcastle prowdes free, confidential, impartial and independent advice and infDrmalion for the benefit Df the community. The Charsty PvIde$ advice lo everyone. regardsS of age. race. gender, sexuality or drsability. The Charity continues lo employ skilled and experienced staff in order to supply advice services lo dienls face-to-fac8, by telephone, e-mail and webchal. The Charity has r¥)1 m&de any material changes lo Ihes8 PDlicies in the last year. To obtain necessary knnding. applicat.$ wère made to various It1, regional and national providers of community finance. Fundraising dlsclosures The Charity is requireil to report how rt deaLs wlh fuNJrdising from the public. The Charity does not us& a professional fundrais2r or (x)mmertaal participator lo raise funds. Any monies raised direct fror the public are used for charitable acbvrlies, in accordance with the guidelines set out by the Charity Commission and UK law. We respect tha privacy and ujntact preferpnces of all public donors, inclu¢Jing those who chDose lo remain anonyTnous. Publlc benefit The trus188s confirm that they have o)mplied with the requirements of sectron 4 of the Chariti8s Act 2011 to have due regard lo the Publ benefit guidance published by the Charity Commission for England and Wal8S. Going concer The Trustèès are satisfEd that the organisation is able lo operate for the lorgse8ab18 futur8 on th8 basis of known and reasonable projgcted kvels of incomè and therefore the going concern basis of accounting is appropriate.
Citizens Advice Newcastle Limited Trustees. Report AGhipvements and performance The main objective of the Charity is the provision of free. impariial and independent advice to people who live. work or study in Newcastle upon Tyne. and to improve th8 poli(ies and practices which affect their Iiv8S. The Covid 19 pand8rnic in March 2020 still had an effect on our seNÉCgS in 2021-22 and our general sessions remained closed until June 2021. We did manage to see dients by appointmanl at Covid safe interview spaces on FkK)T 4 in early 2021. In 2021-2022 we htrlped over 7,000 unique dients with nearfy 18.000 drfferent problems achieving a income gain lo our clients of £2.1 Mill>n ba( to the Newcaslle cornmunity during very drffiGuII circurnstanGes. Working by appointmènt only had ils chall8nges making sure Ihal everyone was working in a Covid safe way and with Covid safe equipment. We acquired some Perspox weens SD that our clients, staff and volunteers fell safe and we thanged the total laywt of the interview and rec8pb.on area for staff safety. Our client numbers went back to pre-cowd levels and we managed the increase in demand through lol of glaff goodwill as our volunteer numbers were gallY red[d. During this lime, our volunteer advisors started lo relum bLrt on a very limited basis. We still were able to cover our advline and 2 of our volLJnteetE continued to assist clients with Personal Independence payment application forms over the phone. For the first part of the financial year staff remained in their bubb with an irKrease in office numbers to 10 each day. Some staff returned lo the office 5 days per week. bul the projects Continued to work frDm home attending the office one day per week. Our face lo face drop in sessions openJ in September 2021 and continued in a Covid safe way. Some of our outreach seNic8S Started advising clients al the outreach sessiorks in a safe Covid envirDnmenl. Our En8rgy Redress projeel is a project that knise5 dients who are having difficulties with their energy bills. will provide advi on ènergy 8ffi(iency and swttching providers. A5 part of this prDjecl tha adviser will carry out a benefit check and assist the client to claim those benefits, help with Ghallengos and generally make sure Ihal they are getting all they are enlilled to. Our ERF adviser achieved some.gr881 outcomes for dients and manag8d to SJ{6 income gains in the region of £190,000.00 Our Northem Powgrgrid pruject assistgj nearty 700 F0p with 1955 issues and an incom6 gèin of £47,678.00. The curr8nt contract endod in December 2021 aThJ a naw contract wa5 form8d with Leeds Gilizens Advicg to adwse people digitally wilh a new virtual private netrrk telephone service between the tr40 0rgan1sanS. The team ¢onlinued lo prowde energy vouchers throughout the year. In Fobruary 2022 we 18amed that our help to claim project woukj not be renewed for the following financial year which was a great loss lo our dients and the organisation. We also learnpd Ihat our fac&lowface debt advir* seNice was being recommissioned into a t9Phon9 and digilal service with the pot8ntial loss of the service altoggther. Our Mesothelioma Project worker was commission1 by Mesothdioma UK lo work for them diT8clly with the loss of that project in March 2022. With the energy cap set lo rise during 2022-2023 demand for our services 11 increase.we continue 10 $89 increasing numbers of clients in crisis, unablg to buy fo(NJ or al their homgs. Requosls for food bank vouchers continue on 8 daity basi$.We continue to provid8 the vouchers electronically.
Citizens Advice Newcastle Limited Trustees. Report Our partnerships with other agencies, indudirrfJ the WISE Group, Action for Chiklren and Northumbria University Law SchLK)I have continued successfulty. With the emphasis Dn child poverty in the region we are in eerfy discussions wth Action for chikjren lo kiok al outreach sessions in some areas of the City. Financlal review The overall surplus for the year is £19.181 {2021= £15.1201. The memorandum Df association does not provide for any distribution lo members. The trustees consider the reserves position lo be 5atisfaclory. 11 is the PDlicy of the Charity lo maintain unreslricted fvnds, whith are tree reserves of the Charity, al a 18vel which provides sufficaenl funds to cover manwJemenL adminstration and support costs. Furthgr detail is given under the ReseNos Policy headiw below. Pollcy on reserves This Reserves Policy is monitored and revIewj on an annual basis by the Trusle8s. The fruslees consider that the Charity should hold financial res8rv8s in order ID ensure that the Charity can continue lo operate and meet the needs of dients in the event of unforeseen and potentially damaging financial circumstances. The Charity operates with onty lim[tl financaal r8sources. The calculation of free r8s8rv@s is bas8d on th& definitson induded in the Charity Slatoment Of Recommended Practice ISORPI which provides recommendalK)r for accounting and reporttng for charities. The Trus18ès have examined the requirements of the charitable company to hold free reserves those reserves not inv8St8d in tangib red assets, excluding bng term liabilities, or designated for a particular purpos8. This exercise o)nsidered both the norn1 requirements for working capital and th& loss of incomè of a hypothelic81 bul reasonable reductK)n in the scale of the Charits op8rations. R8sulting from this. the Trustees consTrdered rt wtsukl be appropriate to hold the equiva18nl of threg months. unrestn'ceé running costs. Thus, COnsering the next 12 months expenditure of arca £700k - £800k. 3 months free reserves would equate to approximatèly £157k to £200k. As at 31st March 2022 fr8& r8s&rv8s were £260,93912021: £255,6581.The Trustees have d8signalgd reserves accordingly. bul continue to balance the ongoing prossures placed upon those freè reserves by the demand for the Charitys serwces, againsl fvtur& obligations. Therefore, the Trustees recognise that in the medium and longer lemi the Charity wll need lo continu8 to generate surpluses in order lo in a position lo meet those future obligatK)ns. Further, demand for the Charity's seNices continu8 lo grow each year, so the demand on future free reserves wll also be greater. The Charity will therefore seek lo securg Continued funding trom &xisb'ng sources. bul a150 dNersrfy the funding base by attracting for long term inv8slm8nl. Having consid8red the options available, the Trust88s d8cided to invest Mon1 in a high interest account. Movement in fix8d assets arn shown In the not8s to the accounts The Charitls assets are held in order lo faulitate Ihe gNing of free, Lyjnffidential and irmlependenl advice and their estimated value Ès not matenalty different from that shown on the balance sheet. The TrtJsl8&s consider that th8 Charivs assets are available and adequat& to fulfi'l th8 obligations of the Charity. Restricted funds are thosa which aro spgcifiealty restrFcted by the donor or ftjndgr for a particular project or aclivity and whith cannot be used for the general purposes of the Charity. Their exisleftce, and the sums of money therein. do does not imply that there has been an underspend. Thgy may have accrued through a wariety of circumstances includiNJ timing differenc beeen tho Charivs nancial year and the funding year of Ihe project concerned. Dètsils of these can be found in Note 18 to the financial statnts.
Citizens Advice Newcastle Limited Trustees, Report Investment policy and objectives Thg TrusteBs are cornmitted to relaining a prudent amount of re5eNes Within the Charitvs funds. However, most of these funds are sp8nl in th8 short temi so there are relatelY few funds available. Key Management Personnel The Board all give their lime freety and no Trustees received remuneratlDn in the year. They consider that the Key Management Personnel {KMPI of the charity ats those noted in thg R8ference and AdtninisÉralion section of this report. Together with the Board, Ihe5e KMP are those in charge of directing and conlrDlling, running and operating the aclmlies of the Charty on a day-104ay basis. Th8 pay of the KMP is reviewed annually and normally increased in accordance with the average cost of Iniing award. The Trusle8s benchmark salaries against the pay leveL8 of other comparable charities and sirnilar organisations within the advic8 sector. Pay levels are set using this infomation, together th th8 budget and forecasl figures to ensure that the Charity can afford any proposed incraases. The Board then agree any upltft in staff remuneration. Plans for future periods Aims and kgy obJe¢tives for future pèrfods To set up a fundlsIng group so that those staff Ihal are interested can be invofvod in some bids. The funding group lo maintain a funding spreadsheet to keep an eye on deadlin8s for funding bids. To refresh the Business and Devolopment Plan artd produce a fomial funding strategy. To work through an exit plan for the large contrydcts that are due to end. Finalising funding lo havB an adviser at the F(K)db8nk in Walkor.
Citizens Advice Newcastle Limited Trustees. Report Statgrnent of Trustees. Rosponsibililies The trustees (who are alsp the direclors of Cit[nS Advi Newcasue Limited for the purpos8s of company law) are responsible for pparing the trustees. report and the finan(ial 51al@menls in accordance with the United KingdDm Accounb'ng Standards (United Kinwlom Generally Accepted Accounting Practice) and applicable and regulations. Company law requires the Irusloes lo prepare fin8rtial statemts for each financial year. Under company law the trustees rnust not approve the financial stalernants unless they are satisfied that they gwe a true and fair view of the stslè tsf affai of the charitable company and of its incoming resources and application of resources. inrjuding ils income a1 expenditure, for that period. In preparing the ffnanual statements, the tnjslees are required lo" select suitable accounting policies and appty them consÈ5tenlly'. observe the mèthods and principles in the Charikne5 SORP-, makejudgements 2nd eslimales that are reasonable 8nd prudenl." slate whether apICable UK Ac£ounling Standards have been followed, subject lo any malorial departures disclosed and eXplaid in the finala1 stalemen19- and prepare the financial statements on the going concem basis unloss il is inappropriate to presume that the charitable wmpany will contir¢ue in business. The trustees are SPonSible for k88piro adequate accounting re(xJrds that are sufficient lo show and explain the charilablo companys transactions and disck)s8 Wth reasonable accuracy at any lime the financial position of the charttable company and enabl8 them to ensure that the financaal statements comply with the Companies Act 2(K)6. They are also respDnsibl8 for sal8guarding the 3ssets of the charitable company and hence for taknng reasonable st8ps for the prevention and dètection of fraud ar othèr IrrUlarities. Dlsclosurè of information to auditor Each trustee has taken steps that they ought to havè taken as a trusl8È in ord8r to make themselves awaro of any re18vanl audrt information and to establish Ihal the chariW5 auditor is aware of that information. Th8 trustees confirm that there is no r81evanl inforrnaln that they know of and of which they know the aLrditor is unawarè. Small Companies provlslon statement This report ha5 been prepared in accordance wilh Ihg small MPanieS regime under the Companiès Act 20D6. Reappointmènt ol auditor Azels Audit S8rv1¢9s Limited. trading as Azeis Audit SeNices. were appointed auditor to the company following their acquisition of the trade of Tait Walkèr LLP. trading as MHA Tail Walker, on 1 May 2022. In acrdanC& with section 485 of Ihe Companies Act 2006. a resolution for the re-appoinlmenl of Az&ts Audit Services as auditors of the charity is lo be proposed at the fortheoming Annual General M8&ting. The annual rèport was approved by the trustees of the charity ( behalf by.. ..and siJn&d on its K Reed Truste&
Citizens Advice Newcastle Limited Independent Auditor's Report to the Member5 of Citizens Advice Newcastle Limited Opinion W8 have audited the finanaal statements of Ciliiens Advi(£ Newcaslle Limtted Ilhe 'charity'l for the year ended 31 March 2022. which comprise the Statement tsf Financial Actwities. Balance Sheet. Slalement of Cash Flows. and Notes to the Financial Statements. induding a summary of significant acGounting policies. The financial reporting framework that has been applied in their preparation is United Kingdorn Accounting Standards. comprising Charilies SORP FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generalty Accepted Accounting Practice). In our opinion the financial statements= give a true and fair vw of the stale of the charlS affairs as at 31 March 2022 and of its incoming resources and application of resources. iThJuding ts income and expenditure for the year then 8nded., have been properly prepared in accordance with Unrtèd Kingdom Generally Accepted Accounting Practice", and have been prepared in a(xordance wth Ihe requirements of the Companbes Act 2(I)6. Basls ft>r oplnlon We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our rBstM)nsibilities under those standards 8re fvjrther described in the auditor responsibilities for thè audit of the financkgl slatemanls section of our rgporL We are independent of the charrty in accordan with the ethical requir8ments that 8re relgvanl lo our aLrt of the financial statements in the UK, induding the FRC'S Ethical Standard. and the provis)nS available for small entities, in the clrojmslanS set out in note lo th8 financial stalem&Trts. and we have fulfill8d our other ethical responsibilities in accordance wth these requireN*nts. We believe that the audit vidence we have oblaingd is SLJffiaent and appropriat8 lo provide a basis for our opinion. Concluslons rglating to going concom In auditing the financial slatoments. we hav8 u)ndLKled that the twslee5 uÈe of thè going concem basis of accounting in thè preparation of the ffnancial stalements is appropriate. Bas8d on th& work we have performad, we have rtot identified any material unCertaintS rglating to evènts or conditions Ihal, ir1vidUallY or collectivety, may cast significant doubt on the chartty's abilty to continue as a going concem for a p8ri(Ml of at least tsvelve months frL#m when the financial statements Wgre authorised for i&su8. Our responsibilities and the responsibilrties of th8 trustee5 With respect to g(¥ng concem ar6 dèscribed in th8 relevant sections of this repcwt. Other Information The truste85 are r8sponsibl& for the other infomiatton. The other inf0mtiOrn comprises the information included in th& annual report, other than the financ1 Statements and our audilorfs report thereon. Our opinion on th8 financial slatements does not cover the other infomiation and, except lo the 6xtent otheNise explialy stated in our rnport. we do not express any form of assuranc& conclusion ther#on. In connection with our audrt of the finarcial ststements, Dur rEsponsibility 15 to read the other infDrmalion and. in doing so, consid8r whether th& other inforniation is materially inconsistent with the rinancial statements or our knowledg8 obtained in the audit or otherwis8 app8ars lo be mat9rially misstated. If w9 identtty such material inconsislon(ies or apparent material missla18tn8n15, we arè required lo determine whether there is a material Mitatement in the financial slalements or material misstatement of Ihg other information. If, based on the work have perfom18d, we condude that there is a material misstslemenl of this other information. we are required lo report that fact. We have nothing to report in this regard.
Citizens Advice Newcastle Limited Independent Audltor's Report to the Members of Citizens Advice Newcastle Limited Opinion on other matter5 prescribed by the Companiès kt 2006 In our opinion. based on Ihe work undertaken in th8 course of the audit.. the ifbformalion given in the Trustees, Report for the financial year for which the finanThal statements are prepared is consistent with the finanryal statements.. and the Trustees, Report has been prepared in actx)rdance with applicable legal requirements. Matters on whlch we a requlred lo report by exception In the light Df our knoedge and understanding of the charity and its environment obtained in the course of Ihe audit, we have not identified material misstatements in the Tmstees, Report. We have nothing to report in respect of the followirKJ matters where the Compan8 Act 2006 requires us lo report to you rf, in our opinton= adequate accounting records have not been kept, or returns adequate for our audtt have not been received from branches not V15ited by us; or the financial statements a not in agreemenl wtth the a(xountirrfJ r8cords and reknms; or certain disclosures of trustees remuneration specified by law are not made,. or we have not received all Ihe information and explanations we Ul for our audrt. Responslbllities of trustèes As axplained more fulty in the Statement of TnJst68s' R&sponsibilib8s [s81 out on page 8], the trustees are responsible for the prgparation of the financial stat8mèrhts and for being satisfied that they give 8 true and fair view, and for such intemal control as the trustees delgmine is nesary lo enable thé prepardtion of finanual stslernenls that are free from material misstatement. whether due to fraud or error. In pr6P8ring the financial statement5, the trustees are responsi118 lor assessing the charity's ability to continue as a going corÈc8rn, disclosing, as applirable, matters r8lalgd lo goirKJ concern and using th& going con(r basis of accounting unless the trus188S 8ither intond to liquKiale the charity or lo ee8$0 operations. or have no r8alistic altematwe but to do so. Auditor responslbllities lor the audit of the financial statements Our obj8ctiv&s arg lo obtain rèasOmb assurance about whether the financial statements as a whole are fr89 from matèrial misstatement, wh&ther due to fraud or error. and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level ol assumnce. blrt is not a guarantee that an audit conducted in accordance with ISAS (UK) VAII alwa detect 8 material misstatement when it exists. Misslal8m9nts can ariso from ftaud Dr 8rror and ar8 consideffd material if. individually or in th8 aggr8gate, they could reasorsably be expected lo Influen the eo)nomic docisions of users takèn on th8 basis of thèse financial statements. Th8 8Xtent lo whh our procedures are capable of detectrng irregularities, including fraud is detali ed bekjw.. 10
Citizens Advice Newcastle Limited Independent Auditor's Report to the Members of Citizens Advice Newcastle Limited ErUIrIeS with managemenl about any known or suspected insthces of non-CDmpl1an with laws and regulations induding fraud- - Reviewing the most recent retK)rts tssued by regulators" Reviewing board minutes,. Challenging assumptions and judgements made by managernenl in their swjnificxnl accoutkting 8slimates- and Auditing th& risk of management ovarride of controls. induding through testing joumal entries and other adjustments for appropriateness. Because of the field in whith Ihe client operates. we enI[fied the k)Ilowng areas as those most likety to have a material impact on the finan(?al statements.. Health and Safety,. Employment Working Time arrangements,. and comlance wlh l)olh the UK Companies Act UK Charities Act. Owing to the inherenl limitations of an audit, there is an unavoidable risk that some material misstatements in the financial sfalements may not detected, even though the audit ig property planned and p8rfomied in accordan wth the ISAS (UK). For instance, the fvrther removed non•compliance is from the events and transaclions reflected in the financial statement5, the less likely the auditor is lo become aware of rt or to recognise the non•compli3nce. A furthèr description of our responsibilities is availaUe on the Financial R8POrtirKJ Council's w8bsit8 at.. www.fre.org.uklauditorsresponsibilities. This descripticffl fomis part of our auditor's rgport. Usè ol our report This report is made solely to the charitable companvs trustees, as a body, in accordance with Chapter 3 of Part 16 of the Compani6s Act 2006. Our audit work has bepn undertaken so that we might stale to the charity's trustees those matters we are required lo stale to them in an auditor's report and for olhar purpose. To the fullest extent peimilled by law. we do not accept or assume responsibility to anyon& other than the Charitab company and ts trustees as a body, for our audit work, for this report, or for the opinions we have formed. Simon Brown BA ACA DChA {Senior Stalulory Auditor) For and on behalf of Azets Audit Services Chartered Accountant & Stalulory Auditor 8ulman House Regent Centre Gosforth Nwcasll8 upon Tyn8 NE3 3LS Date:.. Is/u/kn. .. Azets Audit Services is a trading name ofAzets Audit Services Limited. 11
Citizens Advice Newcastle Limited statement of Flnancial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statsment of Total Recognised Gains and Losses) Total 2022 Total 2021 Unrestricted Restricted Income and Endowments from: Donations and lega(Mes Charitable aGtNilies Other trading activities Investment income 2.747 129,901 3.401 671 234.712 379,435 237,459 s,336 3,401 671 235,176 567,703 9,798 2,489 Total Income 136.720 614.147 750.867 815,166 Expendlture on.. Charitablp actNil]es {133,386 1598,300 731,6861 800,046 Total Expenditure 133.386 598.3001 731.686 800,046 Net income Transfers b&hYeen funds 3.334 442 15,847 442 19,181 15,120 Nel movèment in funds 3.776 15.405 19.181 15,120 Reconclliation of funds Total funds brought fonvard 318.163 10,319 328,482 313,362 Total funds carried forward 19 321.939 25,724 347,663 328,482 All of the charity's activities d8rive from continuing operalions durirNJ the above periods. 12
Citizens Advice Newcastle Limited Comparative Statement of Financial Activltles for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2021 unrestrict Restricted Income and Endowments from: Donations and legacies Charitabl@ activities Other trading aGtivilies Investment income 8.570 122,825 9.554 226,608 444,878 244 235.176 567.703 9,798 2,489 Total income 143.438 671,728 815,166 Expgnditure on: Gharilable actiwlie8 124.913 1675.133 800.0461 Total expenditure 124,913 675,133 8DO,046 Net incomellexpenditure) Transfers beeen funds 18,525 11.9051 {3.4051 11.905 15,120 Net movement in funds 6.620 8.500 15,120 Rgconciliation ol funds Total funds brought forward 311.543 1,819 313,362 TDtal furbds carried forward 19 318.163 10.319 328,482 13
Citizens Advice Newcastle Limited (Registration number: 02114435) Balance Sheet as at 31 March 2022 2022 2021 Note Fixed assets Tangible assets 14 1,606 Current assets Debtors Cash at bank and in hand 15 15.630 453.387 16.605 355,020 469,017 371,625 Credttors: Amounts falllng duewlthln one year 16 121.354 44,648 Net current assgts 347,663 326,977 Net assets 347.663 328,482 Funds ofth8 charity: Restrlctsd Income funds Reslricled funds 19 25.724 10.319 UnrnstrlGtsd incomo fvnds Unrestricted ftjnds 321,939 318,163 Total fund5 19 347,663 328,482 The ffinancA I statements on pages 12 to 28 were approved by the truslees, and authorisl for ISSU8 K Reed Trustee A L Crawley Twst89 14
Citizens Advice Newcastle Limited Statement of Cash Flows for the Year Ended 31 March 2022 2022 2021 Note Ch flows from operatlng activities Net cash income 19.181 15,120 Adjustm8nts to cash flows from non*ash items Depreciation Investment income 1,5 671 1,504 2,489 20.015 14.135 Worklng capltal adjustments Dècreasellincreasol in debtors Increase in credrtors Incr8aselld8cr8asel in deferred income 15 16 975 7,084 69.622 110,0451 777 1,417 Nel cash flows from operating aclMth8s g7.696 3.450 Cash flows from Investlng actlvltlos Interest receivable and similar incom8 671 2,489 Nel increase in cash and cash equants Cash and cash equNal8nts at 1 Apnl 98.367 5,939 355.020 349,081 Cash and cash equwa18nts at 31 March 453.387 355.020 All of the cash flows ar8 d&rived from ntinUIng operatnS during the aLK)v& periods. 15
Citizens Advice Newcastle Limited Notes to the Flnanclal Statements for the Year Ended 31 March 2022 1 Charty status The charity is limited by guarantee. irtcorporaled in England and Wales. and CDnsequ8ntly does not have share capital. Each of the trustees liable to Gontribute an awnount not exceeding £1 towards the assets of the charty in the event of liquidaliDn. The address of its registered office . 4th Noor Cty Library. Charfes Avigon Building. 33 New Bridge street, Newcastle Upon Tyne. NE18AX. 2 Accounting pollcles Summary of slgnlficant accounting pollcles and key accounting estimates The principal accounting policies applied in the preparatton of these financial 51alements are set out b8low. These policies havè been consislenty applied to all the JEars presented, unless olheNisè slated. statsmènt of compllance The financial s181ements have been prepared in accordan wth Accounting and Reporting by Charities.. Statement of Recommended Prath"ce applicable to thariti.as preparing thoir accounts in accordance wth the Financial Reporting Standard applicable in 1he UK and Republic of Ireland IFRS 102) leff8Ctive 1 January 2019)- {Charrties SORP IFRS 102)) and Ihe Charities Act 2011. Basis of prèparatlon The finanual slalements hav8 been prepared on the historical cost ba&s. The financial sla19m&nls hav9 been prepared in Stsdin9, which is the functional currenoy of the entity and round to Ihe nearest £. CitiZ8ns Advice Newcsstle Limited meets the definition of a public Lwnefit entity under FRS 102. Going concgm The Trustees have considered the rgsources availabk: taking account r83sonable p05sibl8 changes in performance and the potential impact on the level of donations received. Given the18vel of reserves and cash hd. and the ability to redu costs aCtrd1Y. the trustees consKl8r th&1 there ar6 no material uncertainties about thè charities ability to wntinue a5 0 going concem. 16
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 Estlmatlon uncertalnty and judgefnents The preparation of the financial slalements requires management to make judgements, estimates and assumpliorÈs Ihal affect the amounts reported. Management have approved depreciation, prepayments, accruals and Dther Gut-off adjuslrnents. Whilst managefflenl bolievo that these estimates and judgeMts are accurale, there is every liklihood that these wll not be exact. These estimates and judgements are conlinualty reviewed and are bas?d on experience and other factors. including expectations of tUre events that are bdieved to be reasonable under the circumstare$. Incomo and •ndowments l income is recognised oft the charity has entillemenl lo the inctsme, it 15 probable Ihal tho in¢orne will be receThied and the amount of the income receNable can b@ measLJred lIab. Donatlons and legacles Donations are recognised when tho chanty has been notifred in wrrling of both th6 8mount and settlèment dale. In the event that a donation is subject to conditions that require a level of performance by thè charity before the charity is entitled to the funds, the income is deferred and not recognised until either those cormlitions are fttlly met. or the fulfilmenl of those condib.ons is wholly Ydthin the control of the charity and it is probatle that these CondrtKl will be fulfilled in thg r&porbng period. Legacy income is rec(yJnised when receipt i8 probable and entitlement is 8Stablished. Grants Ofvable Grants are recognised when the charity has an entItent to the funds and any Gondilions link8d to the grants have been met. Where perfOrrnan conditions are attached to the grant and are yel to be met, the income is r9cognisod as a liability and Ined on the balance sheet as defèrred income to be released. Dèferred income D8f8rr8d income repr&senls amounts r6ceNed for fvture periods 2nd Is refèased lo incomlng r&sourc8s in the period for which. il has received. Such ineome only deferred when: -The donor spècifies that the grant or donation musl only be used in fuiur8 accounting periods., or -The donor has imposad conditions which must be mel befor8 th8 charity has uncondition81 &ntitt8monL Other tradlng activltl•s Income from other trading a¢tiwties is recxyJnisad when Wmls or servi ar8 sold. Charitsble activitfjos Income from contracts for the supply of Servi is recognised the delivery of thè contracted sarvic8. This is daSsifd as unrestricted funds unless thère a c%)ntractual requir&rnenl for it to be Spgnl on a particular purtx)se and r91umed rf unspent. in which case it may be regardpd as r¢slricted. 17
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 Expenditur? All expenditure is Cognised oncg there is a al or construcbve obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. Al costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed lo particular headings they have been allo(xted on a basis consistent with the use of resources, wth central staff costs allLtst on the basi5 of time spenl, and depreciakn'on charges allocated on the portion of the asset's L. Other support wsts are allocated based on th8 spread of staff costs. Charftable activitie5 Charitable expenditure comprises those costs incurred by the charty in the delrvery of rts activities and ServIS for its beneficiari@s. It indudes both costs that can be allocat8d directiy lo such activities and thos9 costs of an indirect nature necessary to support th8m. Support costs Support costs include central fijnctions and have been allocated to activity cost tegOrieS on a basis consistent with the use of resour. for example. allocaling propety costs by ffoor areas, or pef capila, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributablo lo the chariVs compliance wth nstitut)nal and statutory requirements, induding audit, strategic management 8nd trustees. meetings and r8imburs8d expenses. Taxatlon The charity is considered to P8ss the tests set out in Pardgraph 1 Schedul& 6 of thg Finance Act 201Q and therefore il meets the definition of a charitable MpanY for UK corporation lax purposes. Accordingly, the chartty is potentialty exempt from taxab.on in resp8ct of income or capital gains r8c&ived within categories covered by Chapter 3 Part 11 of th8 COrporan Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to th& 8xlenl Ihpl such income or gains aro applied exclusively to charitable purposes. Tanglble flxed assets Tangible ass8ts are inrtialty r8¢ordl at cort and subwuèntty slated al cost less ary aeeumulatgd depreciation and impaimienl loss8s. Assets which ar8 individualty18ss than £1,000 ar8 not typ1 capitalised. Depreciation and arnortisation DgprBciation is providèd on IaNJib flxed assets SD as to wrttè off Ihe cost. less any 6stimat8d rosidual valu8. over th6ir expect8d useful economic lrfe as follows.. Assfjt ¢la$s Computer equipment DeprKiation method and rate 25% stravJhl lin8 18
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 Trade debtors Trade and other debtors are rectsJnised al the settl6m&nl amount due after any Irade discount off&r8d. PrepayThents are valued at the amount pr&paid nel of any trade dis(x)unts. Cash and cash equivalents Cash and cash equivalents comprise (xsh on hand and 11 dew)sits, and other short-lerm highly liquid investments that are readily mnvertible to a known amount of cash and are subject lo an insignifficanl risk of change in value. Credltors and provlsions Creditors and provisiDns are recognised where the chanty has a present obligation resulting frgm a past èvenl that wll probably result in the transfer of funds lo a third party and the amount due to sett the Dbligation can be measured or eslimaled reliably. Credrtors and provisions are normally r8cognised at their settlement amount after allowing for any trdde discounts due. Fund Structuro Llnrostricted income tunds aTr general fund5 that are available [ use at the trustees, discli0n in furtheran of the objectives of the charity. D8signat8d funds are unrestricled hjnds set aside for specffic purposes at the discrelion of Ihg trus18as. R&slrictèd ineome funds are those donated for use in a parlicular area or for specific purposes. th8 usè of whi¢h is reslricled to that area or PUTPOSe. Leases Leasas in whith substantialty all the rtsks and rewards of ovmership arg r8tsin8d by the lessor ar8 lasstfied as operakn.ng leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term. Pensions and other post ret1ment obligations The company operate5 a defined contribution pensK)n stheme. Contn"butK)ns to defined contribution plans are recogntsed as an exp&nses in the period in which the related service is provided. Propaid CDntributions are recogni5ed as an asset to the extent that the prepaym8llt will lead to a reduction in future payments or a cash refund. 19
Citizens Advice Newcastle Limited Notes to the Financlal Statements for the Year Ended 31 March 2022 3 Income from donations and legacles urtr1ded funds Generdl Restricted fund5 Total 2022 Total 2021 Donations and legacies., Donations from individuals Grants, including eapilal grants: Grants from other charib'8S 2.747 1,000 3,747 2,270 233,712 233,712 232,9L)6 Total for 2022 2.747 234,712 237.459 235,176 Total for 2021 8,570 235,176 4 Income from charftablg acuvltlgs Unrestrlcted funds General Restricted funds Totsl 2022 Total 2021 Charitable aGtNilies 129.901 379,435 509.336 567.703 Total for 2022 129.901 379,435 509,336 567,703 TDtal fDr 2021 122.825 444.878 567,703 5 Incomè Irom other trading a¢livllles Unrestricted funds Generdl Restrlcted funds Total funds Total 2021 other incom8 from other trading activi118S 3.401 3.401 9,798 Totsl for 2022 3.401 3,401 9,798 Total for 2021 9.554 244 9.798 6 Investment income funds General Restrlcted funds Total 2022 Ttstal 2021 Intèrèst receivable and similar in¢omè,' Inler8St receniable on bank deposits 671 671 2,489 Total for 2021 2.489 2,489 20
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 7 Expèndlture on charitable aGtivtti UnrestriGted Totsl 2022 Total 2021 General Generalist Advice Support Costs 95,025 38,361 450.558 147,742 545,583 186,103 600.859 199,187 133.386 598,300 731,686 800,046 Activty support costs undertaken dlrectty 2022 2021 Generalist Advice Goveman(x Costs 545,583 167,507 18.596 713,090 18.596 780,484 19,562 800,048 545,583 186.103 731.686 8 Analysis of govemance and support costs Raislng tunds 8xp•nditure Support costs allocated to charltable activitiès Direct charitable Govemance Totsl 2022 Total 2021 staff costs Premises Communications and IT Staff and volunt8er Depreciation Office costs Audit foès Legal and professional other 71,854 23.034 42,356 2221 6.121 77,975 24,996 44,143 2.410 89,846 24,996 47.634 12471 1,504 28,003 3.550 860 3.041 1.787 189 20.481 3.586 4.455 3tKI 216 24,047 4.455 3,826 2.747 3.526 2,531 167.507 18.596 186.103 199,187 Total for 2021 19.562 179.625 199.187 Support costs indude central fvnctKJns and have bgén alk)Cated to ac*vity cost categories on a basis consisl8nt wilh th& use of resources. for example. allocab'ng propety costs by floor areas. or p8r capita, staff costs by the time spent and other costs by their usage. 21
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 9 Net Incomlngloutgoing rosources Nel incoming resourc&s for the year indude= 2022 2021 Audit fees Depreciab'on of fixed assets 3.550 1,505 3,550 1,504 10 Trustees remunerntion and expenses No Irugtees have retsived any reimbursod expenses or any other benefits from the tharty during the year. 11 Staff costs The aggregate payroll costs were as fL4Iows: 2022 2021 Staff costs durfng the year were: Wagès and salarips Social sècurity costs Pènsion wsts 542.914 47.279 15.630 598,927 47,066 16,584 605.823 662,577 The average number of persons (including s8nK)r marwemenl team) ernoYed by tha charity during the year was as follows.. 2022 No 2021 No Employees 23 25 No employ8& r9cewed Muments of more than £60.01)O during the year. The total èmployee benefits of th8 key management personnel of Ihe thrity wor8 £125,53312021 - £116.382). 12 Audltor8' remuneration 2022 2021 Audit of the finanal statements 3,550 3,550 13 Taxation Thè ¢harity is exempt from taxation in respect of incomé or capital gains received within categories coved by Chapter 3 Part 11 of the Corporation Tax Ad 2010 pr Section 256 01 the Taxation of Chargeable Gains Act 1992, to the extent Ihat suth Inrne or gains ar8 applied exclusively to charitable purposes.
Citizens Advice Newcastle Limited Notes to the Financlal Statements for the Year Ended 31 March 2022 14 Tangible fixed assets Computer equipment Total Cost Al 1 April 2021 6,017 6,017 At 31 March 2022 6,017 6,017 Depre¢iation At 1 April 2021 Charge for the year At 31 March 2022 4,512 1,505 4,512 1,505 6,017 6,017 Net book value At 31 March 2022 At 31 March 2021 1.505 1,505 15 Dèbtors 2022 2021 Trade d8blors PrepayThents Accrued income 6.750 5.657 3,223 2.151 14,454 15.630 16.605 16 Creditors: amounts falling duo within one year 2022 2021 Oth8r laxalion and social security Other cr&dilors Accruals Defernd incom& 19.379 2,470 5.800 93,7C15 12,834 2,356 5,375 24,083 121,354 44,648 2022 2021 Deferred incom8 at 1 ApTiI 2021 Resources deferred in the pericKI Amounts released from previous perrods 24,083 93,705 24,083 93.705 25,500 24.083 25,500 Deferred income at y&ar ond 24.083 23
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 17 Obligations under lèases and hirfr purchase contracts Thp lolal value of future minimum lease payTnents *as as follows" 2022 2021 Within one year In two to five years 6,936 5.780 7,379 12.716 12.716 20,0 18 Penslon and other schemos Defined contribution penslon sd)eme The charity operales a defined contribution pensi scheme. The penSn cost charge for the year represernls contributions payable by the charity to the scheme and amountgj to £15,630 12021 £16,584). Contribtrtions totalling £2.47012021- £2.} were payable to scheme al the end of the ya&r aNI are included in creditors. 24
Citizens Advice Newcastle Limited Notes to the Financial Statements for the Year Ended 31 March 2022 19 Funds Balance al 1 April 2021 Balance at 31 March 2022 Incoming resources Resource5 expended Transfers Unrestrtcted funds Gen8ral General funds 257,163 136.720 1133.386> 442 260,939 Designated Designated - service curtailment 61.OCKI 61,000 Total unrestri¢ted funds 318.163 136.720 133.386 442 321,939 Restri¢tÈd funds Monèy Advice ServKe Wise Group Project Millfield Hous8 Powergrid Carè NPG Hardship Help lo Claitn Help to Claim P&W Action for Children Me501halioma Energy Redress Scheme Client Hardship Fund Hong Kong 25B.326 1248.825) {36,685) {32,962) 1138.083) 12,978) (66,963) {19,392) 15.070) {25,422) {19,346) 12.574) (9,501) 1,460 {11:538} 12,583 123) 7,869 1958) 11,370} 2,565 11,509) {20> 44,500 125.500 10.000 59,091 20.350 6,440 22,857 20.855 8,319 15.318 406 10.OCM) 10.000 Total rtricted funds 10.319 614.147 598.3001 442 25.724 Total funds 328,482 750.867 1731,686 347,663
Citizens Advice Newcastle Limited Notes to the Financlal Statements for the Year Ended 31 March 2022 Balance at 1 April 2020 Balance al 31 March 2021 Incoming resource$ Re$our¢ps expended Transfers Unrestricted funds Gon•ral General funds 250,543 143.438 (124.913} 111,905) 257,163 Deslgn8tsd Designated - service urtailmont 61,000 61,000 Total unrestrlcted funds 311.543 143,438 124,913 11.905 318.163 RestTlcted Money Advice Seryice Wise Group Project Mil81d House Powergrid Care NPG Hardship Help to Claim Help to Claim P&W Action for Children Big Energy Week Mesolheliorna Northem Powergrid - Prospect Medical Group Energy ed$S Scheme Client Hardship FuThJ 326,274 33,686 34.597 125.410 10.000 58.495 20,022 (325,1031 {37,6041 {,674) {128,081) {3.477) 167.012) 118.813) 15.9461 (1,171) 3,918 1,077 2,671 123) 8.517 {1.209} 15541 19,0001 3.167 1.819 8,319 9.OLKTr 22,633 {25.8)1 7.917 17,194 17.286) {20,3371 (631) 3,143 2,000 2,000 Total restricted funds 1.819 671.728 675,133 11,905 10.319 Total funds 313,362 815,166 1800,046 328,482 26
Citizens Advice Newcastle Limited Notes to the Financial Stalements for the Year Ended 31 March 2022 Unrestricted Funds: Designatgd - $8rvlce curtailment In accordance w(ch the Charities Commission's guKlance, the trustees have provided for staff redundancy costs in the event that the charivs operatrons needed to cease. Whilst this ts not part of the future plans that trustees have for thg charity, it is pnjdent ID earmark against these potential osls. Restrlcted Funds: Money Advlce Servlce This is fvnding from National Citizen Advice tt> continue face to face debt athice. Wlse Group Projecl This fund is lo provide unemployed indivKluals Vth advice and supporL Miiifield House Funding to 8mploy a research and (xmpaigns officer. Powergrld Care This fund is lo prDvid8 vuln8rdble Individua with support in the event of power cuts. NPG Hard$hip This is to fund a project lo help vuln9rab customers, particulaty those affected by fuel povety, on all aspects of home energy, induding best energy dea15 and fuel effiuencies. Project lo be extended lo support patients al the chesl Clin of the Roydl Wthia Infirmary for whom efficierbt and affordable home eneryy is essential for their health. Help To Clalm This project. which helps pe¢¥)le to daim Univ8rs81 Credit and pr8par8 for their first P8ym&nt. continued for a further year. It is run as a su)ntraCt with Citizert5 Adv0, as part of a national service which i% funded by the D&partrn8nt for Wryk aThl Pens40nS. Action lor Chlldren This national charity funds us lo provide a s181 advksor for a weekly outreach session at their premises in the West End of Newcastle. Our advisor works dosely writh kcal famili&s, particularly from the Czech and Roma tt)mmuniti8S. Big Enèryy Week This funding is used to promde targeted home eneryy advu arKI guNJance during 8 nation81 ampaign organised by Ciliz8ns Advice. Mgsothelioma Since July 2019. this national charty has been fundiTrJ us to promde a stcialist welfare advisor to support P8oplè affected by Mesothelioma, an asbeslos-r8laled canc8r. across the North East region. Northern Powgryrid - Prospect Medical Group We have bèèn running a weekly home energy advice sasSn al the Prospect mlI(x1 Group, funded by Northem Powèrgrid. Eneryy Redress Scheme This project is a partnership with Stockton & District Advi & Infurrotion sewi lo providè energy advice to vulnerable people, this also inclucks home visits. 27
Citizens Advice Newcastle Limited Notes to the Financial Statemenls for the Year Ended 31 March 2022 Cliènt Hardship Flmd Ulilising a generoLJS donation from an ex-volunteer. this proje& provides funding to finance onevoff payments lo clients in crisis. partiwlarfy during Covid. Hong Kong Funding received for the Hong Kong British Nab'onal (Cerse3S) Welcome programme. During the year a IDtal of £442 was transfer1 from unrestricted to wtricted feseNes representing unrestricted furmjs used on specific projects. 20 Analysls of ngt assets between fvnds Unrestrlcted Total funds at 31 March 2022 General Designated Restricted Net cuffenl asselsllliabilities) 260,939 61,000 25,724 347.663 Unrostricted Total funds at 31 March 2021 General Designated Restrfcted Tangible fixed assets Net cuffenl a5selsllliabilitl8s) 1,505 255.658 1.505 325,977 61,000 10,319 Total n81 assets 257.163 61.000 10,319 328,482 21 Analysi$ ol net funds At 1 April 2021 Flnancing cash flows At 31 March 2022 Cash al bank and in hand 355.020 98.367 453,387 Nel funds 355,020 At 1 April 2020 98,367 Financing cash flows 453,387 At 31 March 2021 Cash al bank and in hand 349.081 5.939 355,020 N81 funds 349,081 5.939 355,020 22 Rglatfrd party transactlons There were relalgd paty transactions in the year.