**REGISTERED COMPANY NUMBER: 07448288 (England and Wales) REGISTERED CHARITY NUMBER: 1139926**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2021
for
Bridgend County Borough Citizens Advice Bureau
Ashmole & Co First Floor 1 St John's Court Upper Fforest Way Enterprise Park Swansea SA6 8QQ
Bridgend County Borough Citizens Advice Bureau
## Contents of the Financial Statements for the Year Ended 31 March 2021
||Page|
|---|---|
|Report of the Trustees|1 to 6|
|Independent Examiner's Report|7 to 8|
|Statement of Financial Activities|9|
|Balance Sheet|10 to 11|
|Cash Flow Statement|12|
|Notes to the Cash Flow Statement|13|
|Notes to the Financial Statements|14 to 28|
|Detailed Statement of Financial Activities|29 to 30|
Bridgend County Borough Citizens Advice Bureau
## Report of the Trustees for the Year Ended 31 March 2021
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) '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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Public benefit, objectives & activities**
The constitutional objectives of the charity are to promote any charitable purpose for the benefit of the community in Bridgend and surrounding areas. This is mainly achieved by the provision of centres within the Bridgend County Borough to enable the community to receive advice. The trustees have had due regard to the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning their future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Page 1
Bridgend County Borough Citizens Advice Bureau
## Report of the Trustees for the Year Ended 31 March 2021
## **STRATEGIC REPORT Achievement and performance**
## **Charitable activities**
What a year! Like the rest of the country, the charity was impacted by the effects of the global Covid-19 pandemic, at a time when the demand for our services was increasing. The majority of staff were redeployed to work from home, with a huge effort on the part of the management team and our IT service provider, ITCS, to whom we are especially grateful. We had to move way from a face-to-face service to additional phone and web solutions. Our staff stepped up to the plate magnificently in circumstances which were also personally difficult and worrying. We continued to have positive discussions with all of our funders, who committed to maintaining our sources of funding, whilst endorsing necessary changes in the way we had to deliver some services and the re-designation of some service priorities.
We continued to receive funding from Bridgend County Borough Council towards the charity's core charitable services. This accounted for around a quarter of grant funding received in the year, for which are extremely grateful, and has enabled the continuation and extension of our core information and advice services even within the constraints imposed by the pandemic. For example, we introduced an initial triage system and a client booking system which allow us to deal with emergencies and quick contact issues whilst scheduling appointment slots at generalist and specialist levels. Increased capacity combined with training for new staff enabled more appointments for people requiring help to apply for benefits such as PIP. There has been a shift in demand for our services during this time, with many more people seeking advice on employment and benefit matters, and the complexity of issues being magnified. We have also seen an increase in the number of clients with long term health conditions accessing our services.
## Specific projects in the year included:
- From 1 January 2020, we were successful in gaining grant funding from the Welsh Government's Single Advice Fund as part of a regional Cwm Taf package in collaboration with our brand partners in Rhondda Cynon Taf and Merthyr Tydfil. This funding replaced a variety of funding streams, and was initially for twelve months but has been extended for a further two years. This has enabled advice services under specialist debt and other services, and more generalist community-focused advice, to be established. Staff who were previously employed within the Better Advice Better Lives (BABL) and Money Advice Service (MAS) schemes were redeployed to the new projects, branded as Advicelink Cymru, and further recruitment continued throughout the year.
- Funding from Bridgend CBC from the Communities First legacy fund for provision of a Financial Advice & Support Service [FASS] commenced on 1 October 2018 initially for 18 months, but its success has led to further annual extensions. The scheme assists local service users, primarily those who reside within the former Communities First delivery areas of the Borough, who are in poverty or at risk of poverty.
- Funding via the British Gas Energy Trust to provide advice and assistance to beneficiaries aimed at enabling them to manage their debts and budgets, maximise their income and ability to afford to pay their bills, enabling people to have warm homes through improving energy efficiency and improving their health and wellbeing.
- Funding for a Help to Claim service, via national funding for Citizens Advice, to assist in people's initial claims for universal credit, from application through to first payment.
- Additional sources of funding were obtained during the year to facilitate efficient home-working but also to start the process of resuming an office-based service in the future. We are therefore becoming very well prepared for the hybrids new order of service delivery.
Page 2
Bridgend County Borough Citizens Advice Bureau
## Report of the Trustees for the Year Ended 31 March 2021
## **STRATEGIC REPORT**
## **Financial review**
## **Reserves policy**
The charity's financial reserves increased by £109,298 in the year, including net income of £27,027 on restricted reserves and £82,271 on unrestricted reserves, giving total reserves at the year-end of £464,536.
It continues to be the policy of the charity to maintain general unrestricted funds, which are the free reserves of the charity, at a minimum level equivalent to approximately three months', but ideally six months', expenditure, to provide sufficient funds to cover operating costs including management and administrative support costs, particularly as grant funding is often received in arrears. At the balance sheet date, free reserves for cash-flow purposes [i.e. unrestricted net current assets less designated reserves] had increased to £295,707, which equates to around five months' of budgeted expenditure.
The trustees regularly review their ability to meet obligations with the current level of reserves. The trustees also reviewed the levels of designated reserves which they have decided should be put aside for specific purposes, and have agreed to designate £122,689 to mitigate potential specific risks and to enable the further development of the service within financial constraints.
Page 3
Bridgend County Borough Citizens Advice Bureau
## Report of the Trustees for the Year Ended 31 March 2021
## **STRATEGIC REPORT**
## **Future plans**
The charity has been able to plan the coming year's activities with a firm funding programme, as set out above, with all projects due to operate until 31 March 2022. We will continue to seek to deliver services in innovative ways and to reach out to as many people as possible, as the demand for quality independent, impartial, free advice is still growing.
Following another successful audit of our services by national Citizens Advice in April 2021 which gave excellent results on all key service indicators, we have continued to review all key policies and risks, and a number of development sessions have subsequently been held between the trustees and the senior management team. This has enabled a newly structured medium term business development strategy to be developed, which has equality, diversity and inclusion (EDI) principles integral to all areas. Our vision is: "To be the go-to advice service within Bridgend County Borough, improving the lives of those within our community and empowering clients across every demographic by providing accessible, impartial, confidential and high-quality advice through multiple channels." We will drive service growth to meet demand with evidence-based flexible solutions for multichannel delivery, targeting hard-to-reach sectors of our community and meeting client need. We will work with local, regional and national partners to maintain, secure and diversify our funding services.
We are continuing to modernise and develop all aspects of governance, to continue to seek additional funding for projects, and to devise new ways of delivering core services. A new drive commenced to recruit additional trustees with the skills and ambition required to take the organisation forward, and trustee induction, development, mentoring and training will be developed further. We regularly review our governance structure in order to maintain effective support for and scrutiny of our staff and volunteers.
At the time of signing these accounts, the majority of staff continue to work from home. There has been a shift in demand for our services during this time, with many more people seeking advice on employment and benefit matters. We continue to have positive discussions with all of our funders, who have endorsed necessary changes in the way we have had to deliver some services, and the re-designation of some service priorities.
Consequently, the trustees have reassessed the charity's ability to continue for at least twelve months from the date that the accounts are signed, and have concluded that no material uncertainties exist which cast doubt upon the charity's ability to continue as a going concern.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is constituted as a charitable company limited by guarantee incorporated on 23 November 2010, and is governed by its Memorandum and Articles of Association.
## **Recruitment and appointment of new trustees**
The trustees are required to stand down upon 3 years of service, but may stand for re-election.
## **Structure, governance and management**
Day to day management of the charity is delegated to the Chief Officer. Much of the work of the charity is undertaken by valued volunteers, appropriate induction & training is provided for staff, volunteers and trustees.
Page 4
Bridgend County Borough Citizens Advice Bureau
Report of the Trustees for the Year Ended 31 March 2021
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
The trustees regularly examine the major strategic, financial and operational risks faced by the charity, and have established procedures to mitigate those risks. Financial risks will be managed by seeking to agree funding for both core functions and specific projects for periods longer than twelve months and by seeking to build up free reserves as indicated above. Operational procedures for project and financial management are regularly examined at trustee meetings.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
07448288 (England and Wales)
## **Registered Charity number**
1139926
## **Registered office**
Ground Floor 26 Dunraven Place Bridgend CF31 1JD
## **Trustees**
Mr P R Crocombe - Chair Mr M Gregory (resigned 23/7/20) Mr A W Dodd - Treasurer Councillor D Patel Mr M N Strange (resigned 25/11/21) Dr D P Carney Mr S D Hodgson - Vice chair Ms J C Lawton (resigned 16/1/21) Mr A J Rees (appointed 15/2/21) Dr I Gray (appointed 16/12/20) Ms L L Hill (appointed 16/12/20) (resigned 22/7/21)
## **Independent Examiner**
Ashmole & Co First Floor 1 St John's Court Upper Fforest Way Enterprise Park Swansea SA6 8QQ
## **Chief Officer**
The charity's chief officer is K Henson.
Page 5
Report of the Trustees for the Year Ended 31 March 2021
## Bridgend County Borough Citizens Advice Bureau
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Bankers**
Co-operative Bank, Business Direct, PO Box 250, Skelmersdale. WN8 6WT. Julian Hodge Bank, 29 Windsor Place, Cardiff. CF10 3BZ.
Coventry Building Society, Economic House, PO Box 9, High Street, Coventry.CV15 5QN. Monmouthshire Building Society, John Frost Square, Newport. NP20 1PX.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
.................................................................... Mr P R Crocombe - Trustee
Page 6
## Independent Examiner's Report to the Trustees of Bridgend County Borough Citizens Advice Bureau
## **Independent examiner's report to the trustees of Bridgend County Borough Citizens Advice Bureau ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Page 7
## Independent Examiner's Report to the Trustees of Bridgend County Borough Citizens Advice Bureau
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
D S Morgan FCCA Ashmole & Co First Floor 1 St John's Court Upper Fforest Way Enterprise Park Swansea SA6 8QQ
Date: .............................................
Page 8
## Bridgend County Borough Citizens Advice Bureau
## Statement of Financial Activities for the Year Ended 31 March 2021
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
277
**Charitable activities**
4
Charitable projects
181,602
Investment income
3
2,026
**Total**
183,905
**EXPENDITURE ON**
Raising funds
5
4,228
**Charitable activities**
6
Charitable projects
96,638
**Total**
100,866
**NET INCOME**
83,039
**Transfers between funds**
17
(768)
**Net movement in funds**
82,271
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
346,586
**TOTAL FUNDS CARRIED FORWARD**
428,857|Restricted
funds
£
-
536,449
-
536,449
-
510,190
510,190
26,259
768
27,027
8,652
35,679|2021
Total
funds
£
277
718,051
2,026
720,354
4,228
606,828
611,056
109,298
-
109,298
355,238
464,536|2020
Total
funds
£
3,969
551,837
2,721|
|---|---|---|---|
||||558,527
4,137
500,145|
||||504,282|
||||54,245
-|
||||54,245
300,993|
||||355,238|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 9
## Bridgend County Borough Citizens Advice Bureau (Registered number: 07448288)
|Balance Sheet
31 March 2021
Notes
**FIXED ASSETS**
Tangible assets
13
**CURRENT ASSETS**
Debtors
14
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2021
£
10,461
103,472
371,461
474,933
(20,858)
454,075
464,536
464,536
428,857
35,679
464,536|2020
£
6,263
10,922
351,599
362,521
(13,546)
348,975
355,238
355,238
346,586
8,652
355,238|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 10
## Bridgend County Borough Citizens Advice Bureau (Registered number: 07448288)
## Balance Sheet - continued 31 March 2021
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr P R Crocombe - Trustee
............................................. Mr A W Dodd - Trustee
The notes form part of these financial statements
Page 11
## Bridgend County Borough Citizens Advice Bureau
|Cash Flow Statement
for the Year Ended 31 March 2021
2021
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
26,152
Net cash provided by operating activities
26,152
**Cash flows from investing activities**
Purchase of tangible fixed assets
(8,316)
Interest received
2,026
Net cash used in investing activities
(6,290)
**Change in cash and cash equivalents in**
**the reporting period**
19,862
**Cash and cash equivalents at the**
**beginning of the reporting period**
351,599
**Cash and cash equivalents at the end of**
**the reporting period**
371,461|2020
£
55,504
55,504
(6,517)
2,721
(3,796)
51,708
299,891
351,599|
|---|---|
The notes form part of these financial statements
Page 12
Bridgend County Borough Citizens Advice Bureau
## Notes to the Cash Flow Statement for the Year Ended 31 March 2021
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
||**ACTIVITIES**||||
|---|---|---|---|---|
||||2021|2020|
||||£|£|
||**Net income for the reporting period (as per the Statement of**||||
||**Financial Activities)**||109,298|54,245|
||**Adjustments for:**||||
||Depreciation charges||4,118|667|
||Interest received||(2,026)|(2,721)|
||(Increase)/decrease in debtors||(92,550)|1,858|
||Increase in creditors||7,312|1,455|
||**Net cash provided by operations**||26,152|55,504|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1/4/20|Cash flow|At 31/3/21|
|||£|£|£|
||**Net cash**||||
||Cash at bank and in hand|351,599|19,862|371,461|
|||351,599|19,862|371,461|
||**Total**|351,599|19,862|371,461|
The notes form part of these financial statements
Page 13
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements
## for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011 and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item of income have been met or are fully within the control of the charity, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Support costs relate to functions that assist the work of the charity but which do not directly relate to undertaking charitable activities. These costs are allocated between costs of raising funds and expenditure on charitable activities, on the basis of staff time devoted to those activities.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost Computer equipment - 33% on cost
Tangible fixed assets are stated at cost less accumulated depreciation. Only assets costing more than £700 are capitalised, unless specifically required by grant funders.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside for specific purposes.
continued...
Page 14
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objectives of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. DONATIONS AND LEGACIES**
|Donations
Room hire
Sundry income
**3.**
**INVESTMENT INCOME**
Deposit account interest
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Charitable projects
Grants received, included in the above, are as follows:
Bridgend CBC - Core funding (unrestricted income)
Better Advice Better Lives
Money Advice Service Debt Advice Project ( MASDAP)
British Gas - Warmer Wales
Financial Advice Support Service
Help to Claim
Advice Link Community Focus
Advice Link Specialist Debt & Other
Bridgend CBC - Citizens Advice - Transition Funding
MASDAP - Redundancy Liability Grant
Carried forward||2021
£
277
-
-
277
2021
£
2,026
2021
£
718,051
2021
£
180,802
-
-
19,869
100,000
72,408
165,919
102,260
-
-
641,258||2020
£
1,073
1,874
1,022
3,969
2020
£
2,721
2020
£
551,837|
|---|---|---|---|---|
|||||2020
£
180,556
65,581
38,987
19,841
100,000
73,171
40,566
24,593
3,500
5,042|
|||||551,837|
Page 15
continued...
## Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **4. INCOME FROM CHARITABLE ACTIVITIES - continued**
|Brought forward
Helping More People
Meeting More People
Community Foundation Wales - Post Covid Grant
BAVO
Partnership Research
Building Debt Capacity
Employment Upskilling
**5.**
**RAISING FUNDS**
**Other trading activities**
Staff costs
**6.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 7)
£
Charitable projects
507,380|2021
£
641,258
16,000
17,860
15,000
1,000
800
6,300
19,833
718,051
2021
£
4,228
Support
costs (see
note 8)
£
99,448|2020
£
551,837
-
-
-
-
-
-
-|
|---|---|---|
|||551,837|
|||2020
£
4,137
Totals
£
606,828|
Page 16
continued...
## Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|Staff costs
Rent, water and premises levy
Insurance
Light and heat
Telephone & communications
Printing, postage & stationery
Advertising
Staff travel
Staff and volunteer training
Staff recruitment
Subsistence and refreshments
Other staff expenses
Premises cleaning,repairs and maintenance
Reference materials etc.
Office IT and consultancy
Office equipment
Translation services
Service partner contributions
Depreciation|2021
£
378,858
24,311
1,879
5,619
9,138
3,060
1,001
6
1,190
1,727
1,372
1,014
15,490
7,696
11,205
36,903
27
2,766
4,118
507,380|2020
£
318,360
24,964
2,053
7,575
8,367
5,265
207
3,371
6,056
-
845
1,565
4,399
7,144
8,696
13,983
150
4,737
667|
|---|---|---|
|||418,404|
**8. SUPPORT COSTS**
|**SUPPORT COSTS**||||
|---|---|---|---|
||Human|Governance||
||resources|costs|Totals|
||£|£|£|
|Charitable projects|96,116|3,332|99,448|
continued...
Page 17
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **8. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
||**Human resources**|||
|---|---|---|---|
|||2021|2020|
|||Charitable|Total|
|||projects|activities|
|||£|£|
||Staff costs|96,116|76,499|
||Payroll support|-|612|
|||96,116|77,111|
||**Governance costs**|||
|||2021|2020|
|||Charitable|Total|
|||projects|activities|
|||£|£|
||Trustees' expenses|-|207|
||Independent examiner fee|2,520|2,519|
||Professional fees|799|1,550|
||Sundry|13|97|
||Trustee development costs|-|257|
|||3,332|4,630|
|**9.**|**NET INCOME/(EXPENDITURE)**|||
||Net income/(expenditure) is stated after charging/(crediting):|||
|||2021|2020|
|||£|£|
||Depreciation - owned assets|4,118|667|
continued...
Page 18
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
No expenses were paid to the Trustees during the year.
|**Trustees' expenses**
Trustees' expenses
**11.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other costs
Pension costs
Key management personnel
Salaries and benefits
Key management personnel comprises the Chief Officer.
The average monthly number of employees during the year was as follows:
Management and support staff
Advisers|2021
£
-|2021
£
-|2021
£
-||2020
£
207|2020
£
207|
|---|---|---|---|---|---|---|
||||2021|||2020|
||||£|||£|
||427,960||||359,246||
||33,143||||23,817||
||-||||2,917||
||15,909||||13,015||
||||||||
||||||||
||477,012||||398,995||
||||||||
||||||||
||||||||
|||42,282|||41,367||
||||||||
||||||||
||||||||
||||||||
|||2021
6
15
21|||2020
6
14
20||
No employees received emoluments in excess of £60,000.
continued...
Page 19
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
funds
£
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,969
-
**Charitable activities**
Charitable projects
184,056
367,781
Investment income
2,721
-
**Total**
190,746
367,781
**EXPENDITURE ON**
Raising funds
4,137
-
**Charitable activities**
Charitable projects
137,915
362,230
**Total**
142,052
362,230
**NET INCOME**
48,694
5,551
**Transfers between funds**
(2,429)
2,429
**Net movement in funds**
46,265
7,980
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
300,321
672
**TOTAL FUNDS CARRIED FORWARD**
346,586
8,652|Total
funds
£
3,969
551,837
2,721|
|---|---|
||558,527
4,137
500,145|
||504,282|
||54,245
-|
||54,245
300,993|
||355,238|
continued...
Page 20
## Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **13. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020
Additions
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020|Fixtures
and
Computer
fittings
equipment
£
£
9,651
26,800
-
8,316
9,651
35,116
9,553
20,635
98
4,020
9,651
24,655
-
10,461
98
6,165|Totals
£
36,451
8,316|
|---|---|---|
|||44,767|
|||30,188
4,118|
|||34,306|
|||10,461|
|||6,263|
Only assets costing more than £700 are capitalised, unless specifically required by grant funders.
**14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Grant debtors
Other debtors
Prepayments|2021
£
95,472
2,606
5,394
103,472|2020
£
7,945
1,163
1,814|
|---|---|---|
|||10,922|
continued...
Page 21
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Social security and other taxes
Other creditors
Accrued expenses
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
10,461
Current assets
439,254
Current liabilities
(20,858)
428,857|Restricted
funds
£
-
35,679
-
35,679|2021
£
9,448
-
11,410
20,858
2021
Total
funds
£
10,461
474,933
(20,858)
464,536|2020
£
7,589
2,195
3,762
13,546
2020
Total
funds
£
6,263
362,521
(13,546)
355,238|
|---|---|---|---|
## **16. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
continued...
Page 22
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Staffing Contingency
Premises Reserve
Capital Equipment
Service sustainability & development
fund
**Restricted funds**
British Gas - Warmer Wales
Financial Advice Support Service
Help to Claim
Money Advice Service Debt Advice
Project Redundancy
Advice Link Community Focus
Advice Link Specialist Debt and Other
BEIS Helping More People
Meeting More People
Community Foundation Wales
BAVO
Domestic Violence
Building Debt Capacity
Employment Upskilling
**TOTAL FUNDS**|At 1/4/20
£
255,460
29,100
24,000
9,000
29,026
346,586
-
-
-
5,042
3,610
-
-
-
-
-
-
-
-
8,652
355,238|Net
movement
in funds
£
83,039
-
-
-
-
83,039
(364)
(37)
(230)
-
(3,648)
(98)
10,251
16
953
(1)
9,093
891
9,433
26,259
109,298|Transfers
between
funds
£
(32,331)
7,563
24,000
-
-
(768)
364
37
230
-
38
98
-
-
-
1
-
-
-
768
-|At
31/3/21
£
306,168
36,663
48,000
9,000
29,026|
|---|---|---|---|---|
|||||428,857
-
-
-
5,042
-
-
10,251
16
953
-
9,093
891
9,433|
|||||35,679|
|||||464,536|
continued...
Page 23
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
British Gas - Warmer Wales
Financial Advice Support Service
Help to Claim
Advice Link Community Focus
Advice Link Specialist Debt and Other
BEIS Helping More People
Meeting More People
Community Foundation Wales
BAVO
Domestic Violence
Building Debt Capacity
Employment Upskilling
**TOTAL FUNDS**|Incoming
resources
£
183,905
19,869
100,000
72,408
165,919
102,260
16,000
17,860
15,000
1,000
10,000
6,300
9,833
536,449
720,354|Resources
Movement
expended
in funds
£
£
(100,866)
83,039
(20,233)
(364)
(100,037)
(37)
(72,638)
(230)
(169,567)
(3,648)
(102,358)
(98)
(5,749)
10,251
(17,844)
16
(14,047)
953
(1,001)
(1)
(907)
9,093
(5,409)
891
(400)
9,433
(510,190)
26,259
(611,056)
109,298|
|---|---|---|
continued...
Page 24
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Staffing Contingency
Premises Reserve
Capital Equipment
Service sustainability & development
fund
**Restricted funds**
WG: Better Advice Better Lives
Money Advice Service Debt Advice
Project
British Gas - Warmer Wales
Financial Advice Support Service
Help to Claim
Ford Britain Trust
Money Advice Service Debt Advice
Project Redundancy
Advice Link Community Focus
Advice Link Specialist Debt and Other
**TOTAL FUNDS**|At 1/4/19
£
211,672
26,311
24,000
9,016
29,322
300,321
-
-
-
-
-
672
-
-
-
672
300,993|Net
movement
in funds
£
48,694
-
-
-
-
48,694
(279)
(774)
(357)
(908)
(96)
(672)
5,042
3,610
(15)
5,551
54,245|Transfers
between
funds
£
(4,906)
2,789
-
(16)
(296)
(2,429)
279
774
357
908
96
-
-
-
15
2,429
-|At
31/3/20
£
255,460
29,100
24,000
9,000
29,026|
|---|---|---|---|---|
|||||346,586
-
-
-
-
-
-
5,042
3,610
-|
|||||8,652|
|||||355,238|
Page 25
continued...
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
WG: Better Advice Better Lives
Money Advice Service Debt Advice
Project
British Gas - Warmer Wales
Financial Advice Support Service
Help to Claim
Ford Britain Trust
Money Advice Service Debt Advice
Project Redundancy
Advice Link Community Focus
Advice Link Specialist Debt and Other
**TOTAL FUNDS**|Incoming
resources
£
190,746
65,581
38,987
19,841
100,000
73,171
-
5,042
40,566
24,593
367,781
558,527|Resources
Movement
expended
in funds
£
£
(142,052)
48,694
(65,860)
(279)
(39,761)
(774)
(20,198)
(357)
(100,908)
(908)
(73,267)
(96)
(672)
(672)
-
5,042
(36,956)
3,610
(24,608)
(15)
(362,230)
5,551
(504,282)
54,245|
|---|---|---|
Page 26
continued...
Bridgend County Borough Citizens Advice Bureau
## Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS - continued**
## **Purposes of Restricted Funds:**
**Money Advice Service Debt Advice Project Redundancy** - funding provided to finance redundancy cost following withdrawal of MASDAP funding.
**British Gas - Warmer Wales** - funding from October 2018 to March 2021 from the British Gas Energy Trust to provide advice and assistance to beneficiaries aimed at enabling them to manage their debts and budgets going forward, maximise their income and ability to afford to pay their bills, enabling people to have warm homes through im proving energy efficiency and improving their health and well being. **Financial Advice and Support Service [FASS]** - funding from October 2018 to March 2021 from Bridgend County Borough Council, predominantly from the Communities First legacy fund, together with some housing benefit funding, in order to assist service users who are in poverty or at risk of poverty due to any number of reasons, which may include debt problems, financial difficulty, unemployment (claiming benefits, including Universal Credit), inability to budget or manage finances effectively and those experiencing 'in work poverty' or requi ring information and support to undertake employment. **Help to Claim** - funding for 2020-2021 from national Citizens Advice via the Department of Work & Pensions [DWP] in order to assist claimants to access support via telephone, web chat, online or face-to-face when making an initial claim for Universal Credit, up to time of the first payment.
**Advice Link Cymru -Community Focus & Specialist Debt & Other -** funding for two new projects which took over from the Better Advice Better Lives and the Money Advice Service Debt Advice schemes from January 2020, following the decision by Welsh Government to recommission advice services across Wales to improve the quality and availability of advice services and to encourage greater collaboration between advice providers. One project delivers debt and other specialist advice, whilst the other is concerned with more general community focused services .
## **BEIS (Department for Business, Energy and Industrial Strategy)**
Funding awarded via Citizens Advice to support local offices to respond to Covid at the outset of the pandemic to build general capacity to help more people.
Pot 2 for IT support and equipment
Pot 3 Helping more people - this grant, to be spent by March 2022, is to be spent on building capacity to help more people (e.g. equipment, desks, Covid compliance, safety, staffing to answer more calls, and training).
**Domestic Violence** - part of Advicelink Test and Learn, sub contracted by RCT Citizens Advice. In 2020/21 this was the Partnership development funding allocated to resources to build partnerships relating to our chosen regional area of focus (DV services) and set up Refernet. Additional to the £8,500 there was £1,500 for partnership equipment. A further funding agreement in 2021/22 is for delivery of Test and Learn.
**Building debt capacit** y - funding via Citizens Advice to increase capacity and upskill staff and volunteers - speciali st training etc. in debt advice in light of rising demand due to Covid. **Employment upskilling** - funding to increase capacity to deal with employment enquiries due to Covid. **BAVO -** £1k grant to respond to Covid emergency at outset of pandemic.
**Community Foundation Wales** -awarded via the Wales coronavirus resilience fund and Citizens Advice for activities relating to Covid safety and compliance.
continued...
Page 27
Bridgend County Borough Citizens Advice Bureau
Notes to the Financial Statements - continued for the Year Ended 31 March 2021
## **17. MOVEMENT IN FUNDS - continued**
## **Purposes of Designated Funds:**
**Staffing contingency** - redundancy provision in the event of loss of funding. **Premises reserve** - based on the unexpired lease terms of office premises. **Capital equipment** - primarily to allow for continued renewal of IT equipment and software. **Service sustainability and development** - to provide funding for the development of core service provision and support.
## **18. EMPLOYEE BENEFIT OBLIGATIONS**
The pension costs charged in the financial statements represent the contributions payable by the charity during the year.
## **19. OTHER FINANCIAL COMMITMENTS**
At 31 March 2021 the company had commitments under non-cancellable operating leases as follows:
||2021|2020|
|---|---|---|
||£|£|
|Amounts due within 12 months|27,141|27,141|
||||
||||
||||
||||
## **20. RELATED PARTY DISCLOSURES**
Apart from Trustee expenses (Note 10) and remuneration & benefits paid to key management personnel (note 11), there were no further related party transactions for the year ended 31 March 2021.
Page 28
Bridgend County Borough Citizens Advice Bureau
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Room hire
Sundry income
**Investment income**
Deposit account interest
**Charitable activities**
Grants
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Fund raising wages
**Charitable activities**
Staff costs
Rent, water and premises levy
Insurance
Light and heat
Telephone & communications
Printing, postage & stationery
Advertising
Staff travel
Staff and volunteer training
Staff recruitment
Subsistence and refreshments
Other staff expenses
Premises cleaning,repairs and maintenance
Reference materials etc.
Office IT and consultancy
Carried forward|2021
£
277
-
-
277
2,026
718,051
720,354
4,228
378,858
24,311
1,879
5,619
9,138
3,060
1,001
6
1,190
1,727
1,372
1,014
15,490
7,696
11,205
463,566|2020
£
1,073
1,874
1,022|
|---|---|---|
|||3,969
2,721
551,837|
|||558,527
4,137
318,360
24,964
2,053
7,575
8,367
5,265
207
3,371
6,056
-
845
1,565
4,399
7,144
8,696
398,867|
This page does not form part of the statutory financial statements
Page 29
## Bridgend County Borough Citizens Advice Bureau
|Detailed Statement of Financial Activities
for the Year Ended 31 March 2021
**Charitable activities**
Brought forward
Office equipment
Translation services
Service partner contributions
Depreciation of tangible fixed assets
**Support costs**
**Human resources**
Staff costs
Payroll support
**Governance costs**
Trustees' expenses
Independent examiner fee
Professional fees
Sundry
Trustee development costs
Total resources expended
**Net income**|2021
£
463,566
36,903
27
2,766
4,118
507,380
96,116
-
96,116
-
2,520
799
13
-
3,332
611,056
109,298|2020
£
398,867
13,983
150
4,737
667|
|---|---|---|
|||418,404
76,499
612|
|||77,111
207
2,519
1,550
97
257|
|||4,630|
|||504,282|
|||54,245|
This page does not form part of the statutory financial statements
Page 30