Charity reglstration number 1141020 Company reglstration number 07513268 (England and Wales) CITIZENS ADVICE SOLIHULL BOROUGH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CITIZENS ADVICE SOLIHULL BOROUGH LEGAL AND ADMNISTRATIVE INFORMATION Trusts•s Ann Hunter arcus Brain Richard Maksymowcz Daniel Bliss- Chair Carole Hodson (Resigned 1s1 February 20241 Scott Berrie (Resigned 2yd August 20231 Hamell Dhillon IResigned 2W August 20231 Socretary Kerry Tumer Charlty number 1141020 Company number 07513268 FCA reglstratlon numb•r: 617566 Bankérs: Lloyds 88nk PLC PO Box 1000 Solihvll BX1 1LT Independent oxamln•r Erdingsw¢)rth 8usiness & Tax Advisors Ltd Unil 3 Cuckoo Wharf 427 Lichfield Road Birmingham 86 7SS CITIZENS ADVICE SOLIHULL BOROUGH CONTENTS Page Trustees report Independenl examiner's report 12 Slalemènt of financial aclivities 13 Balance sheet 14 Notes lo the financial slalem8nts 15-24 CITIZENS ADVICE SOLIHULL BOROUGH TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with Ihe company's financial statements for the year 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a trustee report and a directors, report under company law. The Trustees confimi that the Annual report and financial statements of the chariiable company comply with the current ststutory requirements, the requirements ofthe charitable companls governing document and the provisions of the Statement of Recommended Practice ISORPI applicable lo charities P￿parIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191. Since the company qualifies as small under section 382 ofthe CompaniesAct 2006. the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Report) Regulations 2013 has been omitted. STRUCTURE. GOVERNANCE AND MANAGEMENT Structurèi governanc•. and manag•m•nt •. Consti￿tIon Citizens Advice Solihull Borough incorporated as a company limiled by guarantee on 1 February 2011 and comrnen¢ed operalions on 1 April 2011. Citizons Advlce Solihull 8oTough is a Trgislered charity and a company limited by guar8nl8e. Each memberfs maximum liability is limiled io £1. On 31 March 2023, the ¢￿panY had seven members. Its MemorarKlum and Articles ofAssoclallon govern Citizens Advice Solihull Borough. Tho maximum number of Trustegs shall be frfieen, and the mlnlmum shall be three, being either., - electsd al Ihe annual general meellng Ilhere is no mora Ihan ten such elected Trust88s in lotall and who shall hold offsce Irom the conclusion ol that meeting or - e￿opted by the Trustee Board provided that on appoinlmenl, the totsl number of Co￿pted Trustees does not 8XGged ong third of the lolal number of Trust8es. The Iruslees who have served during the year can be seen atr•Jve. None of the truslees has any beneficial inleresl in the company. CITIZENS ADVICE SOLIHULL BOROUGH TRUSTEES REPORT (INCLUDING DIRECTORS. REPORn FOR THE YEAR ENDED 31 MARCH 2024 b. Recruitment and appolntmènt ol truste8s Individuals over the age of 18 who are interested in furthering the work ol the charity and are not paid or volunteer workers (CUrren￿Y or in the past) can a￿lY lo be a Trustee l Director (Trustee) of the company. The process starts wrth the r￿elp¢ of Iheir expression of interest. Our Ghalr contacts the candidate lo give detslls about the role and explain the next steps. A panel ma¢Je up ol fv40 Trustees and the Company Secretsry oversees an interview process. If the panel feels the candidate should be ¥ecommended lo the Board, references are sought. When references are T￿lVed. the pan81 makès a proposal lo Ihe Board. The Board votes lo accept the new Trustee" il musl b8 unanimous. Trusteès recruited following this process are automatleally given company membership. The Board sh811818cl from Trts number a Chair and Treasurer and may gle¢t ono of its number lo Vi¢8 Chair. Nèw Iruslèes are briefed on their legal obligations under charity aThJ company law. the content of the Memorandum and Articles ol Asswalion. the committee and decision-making processes, thè business plan, and the charty's recenl financial pgrformance. They also meet key employees and other Iruslees. Trustees are encouraged lo attend appropriate external training events, which will facilitale their underslanding of Ihèlr role. c. Oryanlsatlonal structura and de¢lslon4naklng pollclgs Cltlzens Advlce Solihull 8oTough is a member of Citizens Advice, the operating name of tho Nallonal Association of Citizens Advicg Bureaux. Citizens Advice provides a frarnework for standards of advice and casework management and monilors progress against these standards. The Board of D1￿ClorS independently determines operating pOI￿leS lo fulfil its charitable obSeclives and compty wth the notional membership requirements. CAS8 is governed by its Trustge Board which is ￿spons￿l le for setting the strategic direction of the organisalion and the policy ol the charity. The Trustees carry the ultimate responsibility for the conduct of CASB and for ensuring Ihal Ihe charity satisfies its legal and contractual obligations. Trustees meet monthly and delegate the ¢Jay-tW operation of the organisation to the Chief Execulive Officer ICEOI. The Trustee Board is independent from management. A register ol members, interests is maintained at the registered office. The Senior Management Team meets to review progress against targets and the Charity's financial position and discuss issues referred to them by the trustee board. CITIZENS ADVICE SOLIHULL BOROUGH TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Reports and recommerwjations are then taken to the full board for approval. and Iheir implementslion is organise(I by the CEO and the staff team. There are regular stsff and volunteer meetings. The CEO and senior management team megtings ensure progre55 agalnst targots. Pay and Remuneratlon of Key Managemenl Personnel The tnJslees consider that the board of trustees and the senior management team ISMTI comprise the key management personnel of the chanty- The charity's senior management team are all paid in accordance wilh a published s¢ale of grades used in the voluntary sector. Any increases lo these published grades are approved by the Irustge board. The chief executivè's Salary is rev￿Wed and approved by Ihe trustee board separately but in line with the policy sel out above. Koy rlsks and Uncertalntles The Iruslees having had consi¢Jeralion to and mindful of the risk factors for thè charlly Identify the following.. Securing lunding Tomains a serious challenge lo mainlain Ixjt lo expand our sorvice. W8 understand that the next lew years are critical lor us In terms of our sustainability and our long-lerm survival, the Trusloes are takin9 Ihis risk very seriously and are resp)nding ac¢ordirwJly The funding climate is not getting any easier. nor do we expeel il lo improve any time soon - coupled wllh this demand for our seNice is incr•8sir¥J moaning that we risk being unable to continue m8elin9 our cliènts, needs and experienc& reputat¢onal risk as a resuli. In ord&r thal we can continue to deliver it is essential that we maintain our volunteer base. We. along with other Local Citizens Advlcè. are finding it harder lo attract Suitab￿ volunteers. Trust¢es plans and strategies ts managing these risky. Afvndraising strategy has been devoloped for the next fisc31 year th81 broadens our approach to income gèneratson, we afe working towards bLtilding our unreslftcte(l income lo allow us lo create a c4Jshion should we lace further reductions in our funding levels. A fundraising strategy has been dovek)ped for the next fiscal year that broadens our approach lo incomè generation. We are working towards building our unrestricted income to allow us to create Some headroom should we face further reduclions In our funding levels. CITIZENS ADVICE SOLIHULL BOROUGH TrUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT (continued) Pay and R&muneration of Key Management P8rsonnel The Iruslees consider that the board of trustees and the senior management tearn (SMTI comprise the key management personnel of the charity. The charrty's SenIc￿ management le8m are all paid in accordance wilh a published scale of grades used in the voluntary sector. Any increases lo these published grades are approved by the truslee board. The ehief exeeulive's salary is reviewed and approved by the trustee board separat8ty in line with the policy sel out above. Key rlsks and Uncertalntlgs The trustees having had consideration to and rn1ndf￿ of Ihe risk factors for the charity idenlify the following.. Securing fundlng remains a sgrious challenge to maintain bul to expand our seTvlce. We understsnd that the next few years are critical for US in terms of our sustainability and our long- term survfval, the Trustees are taking thls rlsk very sedousty and are responding accordlngly The funding climate is not getting any easier. rKJr do we expe¢1 il lo improve any lime soon coupled wlth Ihis demand for our s&rMce Is increasing meaning that we risk being unable lo continue meeting our dienls. needs and experience reputational risk as a result. In order that we can continue to deliver il is essential Ihal we maintain our volunteer base. We. alon9 wllh other Local Citizens Advice. are finding it harder lo attracl suitable volunleefs. Trustees plans and strategies lor managing these risk& A fundraisin9 slralegy has been developed for the nexi fiscal year thal broadens our approach to income generation, we are workin9 towards building our unrestricted income to allow us to ¢r•alo a cushion should we face further reducts'ons in our funding levels. A fvndralsing slfalegy has been developed for the nexl fiscal year thal broadens our approach to income generation. We are working towards building our unreslricled income lo allow u5 to create soffle headroom shwltj we face further raduGlions In our fvrxling levels. A partnership approach has been developed with 3 Univetsrties. We are working with students who wish lo volunteer with us. The Trustees have W0￿ed wtih the university lo consider an approach to tralnlng and how best the charity ¢an engage with students. Thls arrangement Is proving successful. CITIZENS ADVICE SOLIHULL BOROUGH TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Factors that are likely lo affect the financial perforniance or position in 2023124 and further years.. Volatile and uncertain economic conditions. particulady towards th8 end of the year resulting from the pandemic and national lockdowns. A posslble increased compeb'tion in an ever of the 2011 Act. Ind•ptnd•nt examlner's $tat•m•nt Slnce the Charity's gross income exceeded £250.000 your examiner must b& a member of a body listed in section 145 of the 2011 Ad. We confimi that we are Qualified to undertake the examination because we are a member of the Association ofAccounting Tethnicrans IAATI. whi¢h is one of the listed bodies. We have completed our examinalion. We ¢onfifm that no mallefs have come lo our atlenlion In connection with the examination giving us cause to believe Ihal in any material respecl.. accounting records werg not kept in resFeCt ol the Charity as reqtjired by S￿li0n 386 of the 2006 Act., or 2. the financial slalemenl$ do not accord with these records-, or 3. the financial slatemenls do not comply with thè accounting requirements of section of the Act other than any requirement that the a￿)UnIS give a Irue and fair view whi¢h is not a matter considered as part of an independent examinalion.. or 4. Ihe financial statements have not been prepared in accordance with the methods and principles of the Slalemenl ol Recommended Practice for accounting and reporting by charities preparing their accounts in accordance wilh the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 102). We hav• no concerns 8nd have come across no othèr matters in connedion with the examination lo which attention should be drawn in this report in order lo enab￿ a proper understanding of the financial statements to be reached. Erdlngsworth Buslness & Tax Advlsors Ltd Unit 3 Cuck¢y) Wharf 427 Lichfield Road Birmingham B6 7SS Dated.. CITIZENS ADVICE SOLIHULL BOROUGH STATEMENT OF FINANCIAL ACTNMES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Totsl lund5 ds ICt23 fvnds 20 2024 2024 2023 Oonaiions andle8acie¥ Incom•from cha￿taLle 5.983 2&567 28567 138,177 195.645 333A22 131.691 209.564 341255 144.160 I95￿45 339AOS I￿.258 209.564 369A2Z •nd Charltable actlvk 2fy).710 172976 373.686 226,629 315.627 Gro>sTrin5fers tetween funds N•t In¢omo lor the yurl Net rnov¢menr In lunds 13JlOI 3,810 .550 33 75.070 Y,195 ZOA75 Fund balanc•s at l Awil 2023 349,f 17A33 36Y.03B 274.535 312,843 Fund b4￿￿¢¢51t51 M•r¢h 2024 333 157 367 The Stateff￿nt of finarti•l atthrit￿$ In£k￿$•I1 yinslnd b)5ses rrfow%d In the ￿?￿. JI inceme onoexpenditure de￿%* tromcontinuiry actibit￿s. The SlatemEnt of financialacthrit*s alsocory4*swtth IF* reWreff*nts fora•income ènd eXPe￿Ilr￿• aCco￿rt undert Companie5 Att 2Crt]6. CITIZENS ADVICE SOLIHULL BOROUGH BALANCE SHEET ASAT31 MARCH 2024 2024 Notes Ftled a55ets Tangible •$sets Curreni assèts Oebtors Cash ht bank in hand 112.957 229,340 342,297 IL6,635 268,766 385.401 Crtdilors.. amountsfèllln8 due ¥Jlthlft oneyear io 9.140 k8.363 Net ¢urreTrt assets 333.157 367￿38 Tolal assets kn curnt Ilab￿les 333 157 367￿38 In