STAFFORDSHIRE SOUTH WEST GITIZENS ADVICE BUREAU (a company limited by guarantee) REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 March 2024 Company No. 8261002 STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU Charity No. 1150796 CONTENTS Page Trustees and Directors Report 4-13 Statement of Trustees and Directors Responsibilities 14-15 Audit Report 16-19 statement of Financial Activities 20 Balance Sheet 21 Cash Flow Statement 22 Notes to the Financial Statements 23-34
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) TRUSTEES, AND DIRECTORS, REPORT For the Year Ended 31 March 2024 The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their report and audited financial statements for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities,. Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. REFERENCE AND ADMINISTRATIVE INFORMATION Charity number: Company number. 1150796 8261002 Authorised & regulated by the Financial Conduct Authority FRN: 617752 Registered office: 1 a & 1 b St Mary's Place Stafford ST16 2AR TrusteeslDirectors The trustees who served during the period and up to the date of this report are set out below.. Mrs E Robinson (Chair) Mr D Mee (Vice Chair) Mr M Cumberlidge (Treasurer) Mr M Wallbank (resigned October 2023) Mr A Scales (resigned October 2023) Mr P Weetman (resigned as Vice Chair October 2023) Mr P Wilkinson Mr J Preston Mr J Davies Mr W CLJrrie (Vice Chair) Mr I Crawford (resigned October 2023)
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) Management team J. Marker (CEO) (resigned June 2023) C. Davis (CEO) (from June 2023) L. Hitchcock (Head of Services) T. Argent (Contracts & Partnerships Manager) N. Hessar (Business Support Manager) (resigned June 2023) D. Stanton (Business Support Manager) (from July 2023) Bankers Unity Trust Bank plc Nine Brindley Place Birmingham B12HB Independent Auditors Dains Audit Limited Suite 2, Albion House 2 Etruria Office Village Forge Lane Stoke-on-Trent Staffordshire ST15RQ
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la company limited by guarantee) TRUSTEES, AND DIRECTORS, REPORT For the Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity was formed as a company limited by guarantee in October 2012 (Company Number,. 8261002). The full name of the charity is Staffordshire South West Citizens Advice Bureau and was registered with the Charity Commission in October 2012 (charity Number.'110796). The Organisation has an operating name of Citizens Advice Staffordshire South West (otherwise referred to as CASSW in these accounts). It is governed by its Memorandum and Articles of Association. Recruitment and appointment of trustees The charity is governed through a trustee board. Trustees (Directors of the Charity) who have held office during the year are listed on page 2. The Articles of Association provide for a minimum of three and a maximum of twenty-five trustees. The trustees meet 4 times per year with additional quarterly meetings for the sub-committees listed below. Trustees are elected to the Board for a three-year period and are appointed by a resolution of its members at an AGM. The board has powers to co-opt members who shall retire at the following AGM and may offer themselves for re-election. Citizens Advice appoints a representative who Is Invited to attend the Board as a non-voting member. The board is supported by a network of sub-committees, covering Finance and Resources, Quality and Performance and a Board Executive group. The trustees who have served during the year can be seen on page 2. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The organisation is coordinated from its main office at la and 1b St Mary's Place, Stafford, having relocated from Eastgate Street, stafford in January 2024. Trustee induction and training New trustees undertake an induction on their legal obligations ullder charity and company law, the content of tkie Memorandum and Articles of Association, the committee and decision- making processes, the business plan and recent financial performance of the charity. They also meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the understar)ding of their role.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVIGE BUREAU (a company limited by guarantee) Organisation Structure CASSW is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureaux, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Board of Directors in order to fulfil its charitable objects and comply with the national membership requirements. The Chief Executive of the organisation has been appointed by the trustees to manage the day-to-day operations of the charity. In addition, there is a Senior Management Team and Service managers to support the Chief Executive. The organisation has an experienced team of paid staff and volunteers who are key to the service offered by the charity. Decisions are made by the trustee board in line with the Business Development Plan and are reviewed at least annually. The Senior Management Team meets regularly to review progress against targets and the Charity's financial position and to discuss issues referred to them by the trustee board or the Executive group. Reports and recommendations are then taken to the full board for approval, and their implementation is organised by the chief executive and the staff team. There are regular staff, volunteer meetings and management team meetings which ensure that progress is being made against targets, There is an Annual General Meeting, which involves the staff team, volunteers, trustee board, members, and other stakeholders.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a company limited by guarantee) STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) Pay and Remuneration of Key Management Personnel The trustees consider that the board of trustees and the senior management team (SMT) comprise the key management personnel of the charity, The charity's senior management team are all paid in line with associated pay scales as used in the sector and, as with all paid staff, salaries are reviewed annually. Any increases are approved by the trustee board. The chief executive's salary is reviewed and approved by the trustee board separately but in line with the policy set out above. Key risks and Uncertainties The trustees having had consideration to and are mindful of the risk factors for the charity identify the following.. Securing funding remains a serious challenge not only to maintain but also to expand our service. We understand that the next few years are critical for us in terms of our sustainability and ultimately our long- term survival, the Trustees are taking this risk very seriously and are responding accordingly. The funding climate is not getting any easier, nor do we expect it to improve any time soon coupled with this demand for our service is increasing rneaning that we risk being unable to carry on meeting our client's needs and experience reputational risk as a result In order that we can continue to deliver it is essential that we maintain our volunteer base. We, along with many other Local Citizens Advice, are finding it harder to attract suitable volunteers. Trustees plans and strategies for managing these risks, A fundraising strategy that helps the organisation to broaden our approach to income generation, we are working towards building our unrestricted income to allow us to create a cushion should we face further reduGtions in our funding levels. set of SMART key performance indicators that help to monitor performance and identify areas of concern and potential risks. A clear Business Plan that identifies the service delivery and development for the next three years with financial forecasting to support the organisations progress. Factors that are likely to affect the financial performance or position in 2024125 and further years.. As the service is reliant on core funding from Local authorities it is subject to volatile and uncertain economic conditions. Core funding is currently received from the Local Authority in the form of a grant, we are anticipating a possible move towards a commissioning model in the form of a contraGt in the future. Contracts generally provide a longEr-term offer than grants (generally 3-5 years), and contracts will go out to open tender and there is therefore a risk. In 2024 there was a further reduction by one of ou r Local Authorities who have reduced our core grant, which without contract funding to help subsidise our overhead costs, will directly impact on the general service provision we can deliver to residents.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) The political environment remains uncertain, the impact of key national developments is still very much an 'unknown quantity, but has the potential to impact on our position. Continued increased competition in an ever-changing voluntary sector marketplace we know that the voluntary sector is becoming a much more competitive sector, particularly as funding becomes ever harder ta access, as a result we are seeing organisations diversifying their service offer and moving further towards our 'core market,. OBJECTIVES AND ACTIVITIES Objects The charity's purposes, as set out in the objects contained in the Company's Memorandum of Association, are to promote any charitable purpose for the benefit of the whole cornmunity of staffordshire (and beyond) ("the area of benefit") by the advancement of education, the protection of health and the relief of poverty, sickness and distress. The charity's objects are defined as above. Our aims are focused on- To provide the advice people need for the problems they face, and To imprc)ve the policies and practices that affect people's lives Our service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. We value diversity, promote equality and challenge discrimination. The charity has developed its own Mission Statement to reflect more accurately its purpose and role.. to establish CASSL41 as a centre to provide a free, Gonfidential and impartial seNice of advice, support, training, information and cciunsel for the public and for th8 implementation thereof ' Ensuring our work delivers our aims We review our aims, objectives and activities each year. The annual review seeks to examine our achievements and outcome. Together with the success of individual key projects and the benefits that result from them. In carrying out the review we are ensuring that our aims, objectives and activities are in line with our stated purpose. Our main objectives for the year have been developing our service so that it really meets the needs of the clients we are trying to support. Key activities have included: Making sure our service delivery is cost effective and yet person centred. Continually reviewing, and Improving where necessary, the quality of the advice we deliver to all our clients. DiversifyiNg our approach to funding to minimise the risks associated with holding reduced funding streams Continued partnership working with other organisations to help develop initiatives to improve access to quality advice, information and support services.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT Our main activities and who we try to help are described below. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The board of trustees have had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011. ACHIEVEMENTS AND PERFORMANCE Advice and Information Services The main areas of charitable activity are.. the provision of general advice and information services the provision of specialist advice and casework services in the debt, housing and welfare benefits categories of social welfare law, and Guidance on the new pension regulations. In addition to the generalist advice service available CASSW also provided specialist advice as follows: A debt and welfare benefit casework service A specialist service for clients with enduring mental health issues A Housing options referral service across two districts Staffordshire and Cheshire wide Pension wise service A Victims Gateway service A Help to Claim, Universal Credit service Energy Advice projects A specialist service for patients receiving support from NHS services A specialist services for NHS staff employed by MPFT CASSW delivers its services from five offices across Staffordshire and outreaches and venues in neighbouring towns and Gounties in partnership with other LCA'S Service Delivery review Following the Covid Outbreak in 2019, the organisation conducted a full service review and adopted a Hybrid working model for all staff and volunteers, This is reviewed each year to ensure that we are still meeting client needs, ensure that all client groups can access the service, and to ensure Ihat all groups are achieving good outcomes. We continue to offer face to face services where needed. The extension of digital services has continued to develop and are now an Integral part of our service model.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) All staff and volunteers are equipped to work both from the offices, outreaches and home, enabling flexibility for both stafflvolunteers and clients. This flexibility means that clients can choose an access route to services that best suits them and also arrange appointments that fit better with worklhomelcaring commitments. The Trustee Board and Senior Management Team were committed to retaining a local service presence across all three local authority areas, but were also very conscious of the increasing premises and overhead costs and impact on the budget. Large, costly offices would no longer be necessary under a hybrid working model and premises savings could be used to develop digital and front line services. The Trustee Board and Senior Management Team therefore revised its Business plan in light of the new landscape and seNice model. An updated three year plan was launched in 2021 setting out a new future service delivery plan that included the relocation of some of our offices into smaller shared spaces and the re-establishment of more outreach sites to create more flexible access far residents across the three local authority areas that CASSW cover. A move to smaller office premises in Stafford took place in early 2024. The plan has been reviewed annually, CASSW reserves are in a strong position with no indication of any threats to our income or business model so far, but are aware that the changed landscape, the move to more digital services and the recommissioning of some of our major contracts mean that we need to be proactive in our developments to retain our position of remaining a strong competitor for future funding. CASSW embraces the change in service access and is working closely with funders, partners, staff, volunteers and our clients to develop a continued service meeting need and supporting the community in this very challenging and changing environment. Contribution of Volunteers and Paid Staff The charity success could not have been achieved without the hard work 2nd dedication of volunteers and staff. The trustee board and senior management team recognise the tremendous contribution made by the charity's volunteers in advising the public and administering the service without which the service could not operate. Throughout 2023124 the service employed 46 paid staff and 38 volunteers delivering some 14 projects including the core service. Volunteers represent the indispensable core of the seNice for without them, there would not be a Citizens Advice service. Over the last year volunteers have contributed, on average, 242 hours per week. This may be expressed as an annualised value of £363,309. However, their value is inadequately expressed in monetary terms. The difference that Citizens Advice volunteering makes to volunteers, local offices and other key stakeholders (such as the NHS and economy) in the following three arenas: volunteering time skills development and employability. and the health and wellbeing of volunteers.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) Indeed, volunteers bring many skills to the service and very often the experience gained helps individuals return to full employment. We have actively sought to recruit new volunteers and Increase the volunteering opportunities that we can offer, This has been successful and we are currently training new groups of volunteers. Who used and benefited from our services? During the reporting year l 0,056 clients benefited from the services of CASSW generating 47,680 issues. We support people on any issue that they may face however our most common enquiry areas are benefits, (including Universal Credit), debt and financial services and capability. In total the service was presented with £10,238,137 worth of debt, rescheduling or reducing the debts to make peoples, lives rnore sustainable. The service generated a total of £9,968,358 in additional income for its clients, primarily through our income maximisation work. Clients continue to present with multiple problems and on average clients are presenting with issues each. On average clients are presenting 3 times each before their issues are resolved, 39,101 activities were recorded. Factors Affecting the Achievement of Objectives Maintaining sufficient funding to continue delivering the service remains a continual challenge. We are making sure that we explore alternative fundraising and continue to diversify our approach to ensure we are delivering the most cost-effective service we possibly can. This isn't about simply cutting costs., it is about delivering a service that genuinely meets clients, needs to make us as cost effective as possible. The complexity of the issues that clients are facing, and the additional challenges that clients are experiencing, places additional demands on the service. The support networks that were previously in place for people are changing and we are asked to offer support that falls outside the remit of direct advice. Where people are vulnerable, it is essential that we offer support in a person-centred way and whilst necessary this can be resource intensive. 10
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a company limited by guarantee) FINANCIAL REVIEW The availability of funding in the charity sector remains difficult a rapidly changing and challenging environment. The charity is focused on providing added value to Its funders from a base of sound financial management and ensuring that our services remain relevant to the strategic objectives of stakeholders at local and national level. The charity is working hard to deliver a cost-effective service that genuinely meets the needs of our clients. In the reporting period, the charity had a surplus of £43,622 (2022123.. £63,446) from a total income of £1 ,380,377 (2022123. £1,298,934) and expenditure of £1,336,755 {2022123.' £1,235,487). Principal Fundlng Sources Project specific funding was received from the Money and Pension service (MAPS) for the Money Advice and Pension wise services, Staffordshire Police & Crime Commissioners office (OPCC) to support victims of crime, the Henry Smith Charity helping people with enduring mental health issues, and The Department for Work and Pensions (DWP) to deliver support for those claiming Universal Credit. Although project income has remained stable during the year, we are aware that this is changing following the Covid pandemic and the current difficult economic environment and the government and thus our main funders will need to balance the costs arising from the cost of living crisis, inflation and rising interest rates alongside the changing needs across society. Recommissioning of some of our main income streams is ongoing, primarily Government funding of services such as Debt, Universal Credit and Pension wise are being reviewed with a view to making financial savings whilst still retaining national service delivery. Digital services are deemed to be cheaper and more cost effective, thus increasing Gompetition across the open market. CASSW were successful in retaining both the MAPS debt and DWP Help to Claim service, but both will be recommissioned again over the next two years as the Government endeavours to find a comprehensive, but cost effective model, Our Pension wise service, currently extended, will asso be recommissioned, so (he organisation rnust stay alert and work proactively to ensure our service model can be competitive in future recommissioning rounds CASSW believes that the need for services such as aurs will be in even more demand going forward and we feel that although this has been recognised by fullders, the development aiid success of the digital service platform will lead to a different service specification in the move to save costs.
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a company limited by guarantee) Investment Policy As required in its Memorandum, paragraph 4.17, in furtheranco of its objects, and for no other purposes, the Company has the power to Invest or deposit funds in any lawful manner (but to invest only after obtaining professional advice and having regard to the suitability of investments and the need for diversification). Reserves Policy CASSW is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. The trustees consider that it would be prudent to set aside an amount equivalent to three months, operating expenditure. The value of this will be calculated using an average of 3 months running costs based on the current annual budget. This is reviewed on an annual basis. The total available reserves at the end of this financial year stand at £730,120 and the net current assets of £684,453 give a sufficient safety net to ensure the continuation of the organisation into the future. Going Concern After making further appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. FUTURE PLANS Developing a sustainable service that meets the needs of our clients remains a priority of the trustee board. The charity will build on the work completed in the previous financial year to develop diversified funding streams to increase our sustainability and enable us to build a diverse service that is responsive to client needs. The revised Business plan outlines a plan that sees the reduction in its five offices and a move to relocate its front line delivery sites to shared premises with partners, outreach venues and an introduction of remote access points. ThS will help us to not only retain our local footprint but also to extend it and deliver more flexible services. Outreach services and shared premises have also been identified and the successful relocation of our South Staffs office into the new South Staffordshire Council Hub, has provided us with a good model of how well this relocation can work. The move to a Hybrid working model for staff ar)d volunteers has also proved successful. We have worked closely with staff and volunteers, partners, stakeholders and funders to ensure that such a model would support their ideas and plans and protect loss of revenue streams. We are also piloting the addition of remote video conferencing for clients which will add to the physical face to face service and we will retain and develop our digital service offer. 12
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) The plan is an ambitious plan and will take time to achieve. However, in consultation with partners, clients, stakeholders and funders, this is a model that is being developed by many organisations and it is therefore important to be proactive in helping to develop and implement such a model collectively for the benefit af our clients across the communities. Now in its third year we are starting to identify the benefits of the new plan and more importantly can see that our clients are also adapting to a new model, with client numbers increasing and new client groups accessing the service. We believe that our position, credibility and our commitment will help us to fully achieve this new service strategy and help us to retain a service that meets demand, supports our clients and continues to provide essential services, The charity will continue to work to ensure that it delivers a cost-effective service, meaning that we are not only offering value for money to our existing funders but that we have a viable offer, whilst never compromising on the high-quality seNice that our clients expect and deserve, Having reviewed the risks the charity is facing, the trustees are satisfied that CASSW is in a relatively strong position, although acknowledging that competition for contracts is strong and the loss of contracts can have a widespread impact across the organisation. With this in mind, the board recognises the need to he in a strong viable position to PLJrsue appropriate contracts and have adequate contingency measures in place, with risks carefully monitored. During the year 2024125 we will continue to improve our internal monitoring mechanisrns ensuring that we have a clear understanding of each element of the service, the benefits of that are many- we can ensure that we are achieving as much as we can possibly achieve and delivering an excellent service to our clients and our funders, and we can also understand our business offer and can market our service accordingly. The annual report was approved by the trustees of the charity on signed on its behalf by; 2yid/.".t.......... and GL£ Elaine Robinson Chair 13
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) STATEMENT OF TRUSTEES, AND DIRECTORS, RESPONSIBILITIES The trustees and directors are responsible for preparing the Annual Report and the financial statements for the year ended 31 March 2024 in accordance with applicable law and regulations. Company and charity law require the trLtstees and directors to prepare financial statements for each financial year, Under that law, the directors have eleGted to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Company law requires that the trustees and directors must not approve the financial statements unless they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently- make judgements and estimates that are reasonable and prudent" state whether applicable accounting standards have been followed subject to any material departures disclosed and explored in the financial statements- d. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business., e, that the trustees and directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charity and that enables them to ensure that the financial stat8ments comply with the Companies Act", f. that the trL(Stees and directors are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities,. and that, where appropriate the trustees and directors are responsible for the maintenance and integrity of the corporate and finanGial information included on the charity's website. statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our trustees, annual report.. There is no relevant information, being Information needed by the auditor in connection with preparing their report, of which the charity s auditor is unaware, and The trustees, having made enquires of fellow directors and the charity's auditor that they ought to have individually taken, have each taken all steps that helshe is obliged to take as a director in order lo make themselves aware of any relevant audit information and ta establish that the auditor is aware of that information. 14
'STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) Auditors The auditors, Dains Audit Limited, have been appointed in accordance with section 445 of the Companies Act 2006. reparing this report, the Trustees have taken advantage of the small company's exemptions 'ded by section 415 the Companies Act 2006. .. ¥. / C. /..z¢...and signed on its behalf by.. pro App ove th of the charity on David Mee (Tru Date. 2}fr/lc)/£*,....... 15
'STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la conipany limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE NtEMBERS OF STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (A company limited by guarantee) Opinion We have audited the financial statements of Staffordshire South West Citizens Advice Bureau (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Staternent and notes to thé financial statements, including significant accounting policies. The finanGial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared accordance with the requirements of the Cornpanies Act 2006. Basis for opinion We Gonducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities under those standards are further described in Ihe Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern I n auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial staternents is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve ry)onths from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. other information The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of as8urance conclusion thereon. Our responsibility is to read the other information and, in doing so, coiisider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 16
'STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (CONTINUED) (A company limited by guarantee) Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit . the information given in the trustees, report for the financial year for which the financial statements are prepared is Gonsistent with the financial statements-, and the trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not ideritified material misstatements in the trustees report. We have nothing to report in respect of the following matters in reSatior) to which the Companies Act 2006 requires us to report to you if. in our opinion. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not iri agreement wlth the accounting records and returns" or certain disclosures of directors, rernuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regirne and take advantage of the small companies, exemptions in preparing the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees, responsibilities statement set out on page 14, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation af the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is ngcessary to enable the preparation of financial statements that are free from malerial misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenGe the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with12ws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. 17
"STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la company limlted by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (CONTINUED) (A company limited by guarantee) Qur approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations., we identified the laws and regulations applicable to the charitab5e company through discussions with directors and other rllanagement, and from our commerclal knowledge and experience of the sector., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the financial reporting legislation, Companies Act 2006, Charities Act 2022, taxation legislation, anti-bribery, employment, and environmental and health and safety leg islation., we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondenGe,' and identified laws and regulations were Gommunicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by". making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actua1, suspected and alleged fraud., and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of contmls, we: performed analytical procedures to identify any unusual or unexpected relationships- tested journal entries to identify unusual transactions. assessed whether judgements and assurnptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias., and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statement disclosures to underlying supporting documentation. reading the rninutes of meetings of those Gharged with governance" enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with HMRC, relevant regulators and the charitable company's legal advisors. 18
'STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la company limited by guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {CONTINUED> IA company limited by guarantee) Because of the inherent limitations of an audit, there is a risk that we will not detect all irreg ularities iricluding those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www,frc.org.uklauditorsresponsibilities. This description forms part of our Auditors, report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 Df the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and foi no other purpose. To the fullest extent perrllitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Sirnon Hawkins (Senior Statutory Auditor) For and behalf of Dains Audlt Limited Statutory Auditor Chartered Accountants Suite 2, Albion House 2 Etruri8 Office Village Forge Lane stoke on Trent Staffordshire STI 5RQ Date.... 19
'STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES Including income and expenditure account For the year ended 31 March 2024 Notes Unrestricted Restricted Total 2024 Unrestricted Funds £ Funds £ Funds £ Restricted Funds £ Total 2023 Income from. Donations and legacies Charitable activities Generaled funds Investments Other 426 464,787 1,249 1,675 812.902 1,377,689 32 4S1,461 32 1,2g8,115 836,654 1,Q13 1,013 53 733 53 733 Total income 466,226 914,151 1,38Q,377 462,279 836.654 1,298,g34 Expenditure on: Raising funds Charitable acttvilies 414,159 922,596 1,336,755 464,382 771,105 1,235,487 Total expenditure 414,159 922.596 1,236,755 464,382 771,105 1,235,487 Net incomel{expenditure} before transfers 52,067 (8,445) 43,622 12.1041 65,550 63,446 Transfers between funds 13 (21,900) 21,900 24,649 (24.649) Net movement in funds 30,167 13,455 43.622 22,545 40,901 63,446 Reconclliation of funds: Total funds blf 13 8OS,764 79,735 686,499 584,219 38,834 623,053 Total funds clf 838,931 S3,190 730,121 606,764 79,735 686.499 The statement of financi21 activities include5 all gains and losses in the year, All income and eypenditure derive from continuing activities. The notes on pages 23 to 34 form part of these financial statements. 20
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) BALANCE SHEET As at 31 March 2024 Charity number. 1150796 Company number: 8261002 2024 2023 Notes Fixed assets Tangible assets 10 45,668 Current assets Work in progress Debtors Cash at bank and in hand 11 94,039 675,656 51,072 789,516 769,695 820,588 Liabilities Creditors.. amounts falling due within one year 12 {85,242) {134,089) Net current assets 684,453 686,499 creditors.. amounts falling due after more than one year Provision for liabilities Total net assets 730,121 686,499 Funds of the charity Unrestricted funds - general Designated funds RestriGted funds 13 543,508 g3,423 93,189 513,341 93,423 7S,735 13 Total charlty funds 730,121 686,49g These financial statements have been prepared in accordance with lhe provisions applicable to small companies within Part 15 of the Companies AGt 2006, For the financial year ended 31 MarGh 2024, the charily was subject to a statutory audit in accordanc8 Wlth the Charities Act 2011 and Companles Act 2006 rela g to srn811 companies. The financial statements on pages 20 to 34 behalf by.. ere ap ov y the tru Elaine Robinson Trustee David Mee Trustee The notes on pages 23 to 34 form part of Ihese financial statement5, 21
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) CASH FLOW STATEMENT For the year ended 31 March 2024 Notes 2024 2023 Cash flows from operating activities: Net cash provided by operating activities {44,784) go,842 Cash flows from inve5tSng activiti&s: Interest income Purchase of tsngible fixed assets 1,013 {50,089) 53 Net cash provided by investing activities (49,076) 53 Increase l (decrease) in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (93,860) 90,894 769,516 678,622 Cash and cash equivalents at the end of the reporting period 675,656 769,516 Reconciliation of cash flows from operatlng activities 2024 2023 Net (expendilurelk income for the reporting period Add.. Depreciation charge Less: Interest income Decreasellincreasel in debtors Increase l{decreasel in Greditors 43,622 4,421 {1,013) (53) (42,967) (40,448) (48,847) 67,896 63,446 Net cash provided by operating activities {44,784) 90,842 Analysis of net dobt At 1 April 2023 Cash flows 31 March 2024 Cash at bank and in hand 769,516 769,516 93,860 93,860 675,656 675,656 The notes on pages 23 to 34 form part of these financial statements. 22
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Statutory Information staffordshire South West Citizens Advice Bureau is a company limited by gL*arantee incorporated and domiciled in England and Wales. The charity qualifies for section 60 exemption under the Companies Act 2006. The members of the Charity are the Trustees named on page 2. The registered office is la & Ib St Mary's Place, Stafford, Staffordshire, ST16 2AR. Accounting Policies Basis of preparation The charity constitutes a public benefit enlity as defined by FRS 102. The financial statem8nts have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard appliGable in United Kingdom and Republic of Ireland (FRS102), the Charities Act 2022, the Companies Act 2006 and UK Generally Accepted Accounting Practice. Assets and liabilities are initially recognised at historical cost or Iransaction value unless otherwise stated in the relevant accounling policy. The finance statements are prepared on a going concern basis under the historical cost Gonvention, modified lo include certain items at fair value. The finance statements are pres8nted in sferling which is the functional currency of Ihe charity and round to the nearest £. The significant accounting polici8s 8pplied in the preparation of thesg financial st81emenls ars set out below. These policiss have been Gonsislently applied lo all years presented unless othenvise staled Financial Instruments The Charity only has finanGi21 assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at the present value of future cash flows (amortised cost). Financi81 assets held at amortised cost comprise cash at bank and in hand and debtors excluding prepayments, Financial liabilities held at amortised cost comprise creditors excluding deferred income and taxation payable. Financial liabilities that are provisions are held at fair value. No discounting has been applied on the basis that the periods over which amounts will be 5ellled are such that any discounting would be imm2terial. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Designated funds are unreslricted funds earmarked by the trustees for particular purposes. Reslrictecl funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of Gach restricted fund is set out in the notes to the finanGial statements. 23
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Income All income is included in the statement of financial activities when the charity is entitled to the funds and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period Volunt2ry income is received by way of grants, donations and gifts, including gift aid income where applicable, and is included in full in the statement of financial activities when receivable. Donated seNices and facilities are included at the value to the charity where this can be quantified 2nd is material. The value of services provided by volunteers has not been included in these accounts in accordance with the Gharities SORP {FRS102). Grant Income Income from grants, where rel8led to perform8nce and specific deliverables, 8re accounted for when it is probable thal the income will be received and the amount can be measured reliably and is not deferred. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company, this is narmally upon notific8tion of the interest paid or payable by the Bank. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, alld is r8POrted as part of the expenditure to which it relates. Expenditure on raising funds,, comprise the costs associated with attracting voluntary income, Charitable expenditure comprises those costs illcurred by the chariiy in the delivery of its activities and senlices for its beneficiaries. The primary functional activity of the charity is the giving of free and confidential advice to the public. It includes both costs that can be allocated directly lo this activity and those costs of an indirect nature necessary to support them. Support costs includes all those overhead costs of office and bureau accommodation, utility services, and other seNices and costs, which are in support of the activity. They also include those costs not associated with the other two headings and includes costs of meeting the constitutional and statutory requirements of the charity, the audit fees and costs linked to the strategic managemenl of the charity. They have been allocated to activity cost categories on a basis conslstent with the use of resources. Operating leases and hire purchase agreements The charity classifies the lease of properly, printing and telecommunications equipment as operating leases,. the title to the property and equipment remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease. Taxation The charity is 8n exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definition of a charitable company for UK Corporation tax purposes. 24
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 2.10 Tangible fixed assets and depreciation All assets costing more than £1,000 are capitalised. Tangible fixed assets other than freehold land are st8ted at cosl less depreciation. Depreciation is provided at rates calculated lo write off the cost less eslimaled residual value of each asset over its expected useful lrfe, as follows: Property Office equipment Computer Equipment Furniture & Fittings Lease period 250/0 Straight line basis 33 % straight line b8SIS 15% slraight line basis 2.11 Debtors Trade and other debtors are recognised at the settlement 2mounl due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.12 Cash at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a short m2turity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.13 Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in Ihe transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due, 2.14 Penslons and retirement benefits The charity operates a defined contribution scheme. The amount charged ta the statement of financial activities in respect of pension costs and other post-ielirement benefits is the contributions payable in the year. Differences between contributions payable In the year and conlributions paid are shown as either accruals or prepayments in the balance sheet. 2.15 Going Concern The Trustees believe they hav& adequate resources whlch will enable the charity to meet Its liabilities as they fall due for the foreseeable future (minimum 12 monlhsl- For this reason, they continue to adopt Ik¥e going concern basis i preparing the financial statements, 2.16 Critical accounting estImates and areas of Judgements Estimates and judgements are conlinually valued and based on historical experience and other factors, including exp8ctations of future events that are believed to be reasonable under the cirGumsl8nc2s. Deferred income Included wSthin other creditors is £41,552 (2023: £103,318) of deferred income. This income relates to contracts Gompleted during the 31 March 2024 year. However, due to underspend rnanagement believe that the amount will be recouped. 25
STAFFORDSHIRE SOUTH WEST CITIZENS ADVIGE BUREAU {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Donations and legaclès Unrestricted £ Restriclttd £ Total 2024 £ Unreslrlcted £ Resldcied £ Total 2023 Donations and gifts 426 1,249 1,675 32 32 Income from ¢h3rilable activities Grant and contract Income Receivabl8 for GharitaL)le activities Unrestricted Restricted £ Total 2024 Unrestrlcted £ Reslricled Total 2023 General Advicè,. Cannock Chase Council Slafford Borough Council South Staffordshire District Council Hedn&sford Town CouncAL Ci112ens AdVI- other Henry Smith Charil Citizens Ad Staffs North 8 Stoks IVGI Fuel Bank Midlands Partnership NHS Trust Ghaiityworks Kickstart Citizens Adv1¢$ West Mercla The National Lottery Communlly Fund 124,916 60,000 31,974 5,000 8.168 124,916 100,070 31,974 5,000 8,168 59,300 149,393 153,666 60,000 43,000 1,000 12,959 153,666 90,053 43,000 1,000 12,959 58,700 112,636 40,617 82.500 15,083 40,070 30,053 59.300 31.125 58,700 118,268 112,636 40,617 22,500 15,083 45,000 so.000 105,000 60,000 23,681 3.539 23,681 75.000 71,461 464,787 217,715 682.502 461,461 148,753 610,213 Debt Advice.. Cliiz&ns Advice- Money Advic 119,459 119.459 146,671 146,671 Benefits Advice-. Citizens Advice- Help to Clalrn 189,161 189,161 191,355 fj91,355 Pensions Guldance & F5nan¢lal Capablllty.. Clb7ens Advice- Pension Wise Cilizers Advice- Energy 8esl De81 354,992 28,645 354,992 28,645 316,969 27.571 316.06a 27,571 383,fj37 383,637 344,540 344,540 Other Trust Fund Pawenls 2,930 2,930 5.336 5,336 Total income from charitable activities 464,787 912,902 1,377,689 461,461 836.654 1,298,116 26
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a cormpany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Investmènt income Unreslri¢ted Restricted £ Total 2024 Unreslrlcled R$stricled Tota5 2023 Inl8resl récelved 1.013 1.013 53 53 Expendlture on charitable 8cllvilles Charitablè Activity Unrestricted £ Restrlcted £ Total 2024 £ Unresliicled £ Reslrictecs £ Tolal 2023 Salaries, Employer's National Insuyance & Pénsion cosls Siaff & volunteer ¢osls offi costs Premises cosis Governance & L8gal Costs Other costs Subconlraclor p8yments 336,168 653,575 989,743 350.454 512,965 863,419 6,778 23,309 27,661 13,120 7,123 2,519 44.762 47.643 13.100 12.704 150,293 9,297 68,071 75,304 24,220 19,827 150,293 6,159 25,238 25,517 14,252 5,145 40,617 3,303 37,199 42.060 12,590 7,243 155.744 9.462 62,438 67,577 23.843 12,388 196,361 Totsl Expenditure on charitable activities 414,159 922,596 1,336,755 464,382 771,105 1,235,487 Auditor's Remuneration The fcillowing information relates to remuneration of auditors of lhe charity durtng the financial year. 2024 2023 Auditor's f8e 6,750 4,600 Trustees, and key management personnel remuneration and expenses The total amount of employee benefits received by key management personnel is £154,730 (2023.. £1 S7,5701- The charitable company considers its key management personnel compromise the management team as descrlbed on page 3. During the year no remuneration or benefits for services as a direGtorltrustee have been paid or were payable, directly or indirectly, out of the funds of the charitable trust to any trustee or to any persan known lo be connected with them. During the year ended 31 March 2024, trustee expenses of £326 (2023.. £110) have been incurred by 1 trustee (2023., 2 trustees). 27
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Employees 2024 2023 Full Time Equivalent The average numbar of employees: Permanent staff Volunteers 46 38 43 39 2024 2023 Employment CDSts Wages and salaries Social securtty costs Other p8nsion costs 908,410 62,985 18,349 787,245 60,414 15,760 989,743 863,4qg No employee received remuneration amounting to more than £60,000 in the period {2023', none). Pensions CASSW has contributed £18,34g (2023: £15,760) lo the personal pension schemes of employees. Contributions lotalling £3,874 (2023., £3,707) were payable to the fund at the balance sheet d8le. 28
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 10 Flxed Assets Equlpment Computer Furniture & Fittings Property Total Cost At 31 March 2023 Addilic>ns 6,758 15,213 5,089 8.549 4,525 45,000 35,043 50,089 At 31 March 2024 6,756 20,301 8,549 49,525 85,132 Depreciation Al 31 March 2023 Charg8 for th& year 6,756 15,213 497 8,549 4,525 3,924 35,043 4,421 Al 31 March 2024 6,756 15,710 8,549 8,449 39,464 Net book value At 31 March 2024 4,S91 41,076 45,668 At 31 M8rch 2023 Debtors 2024 2023 Accrued income l Other debtors Prepayments 90,025 4.014 49,392 1.880 94,Q39 51,072 12 Creditors.. amounts falling du& within one year 2024 2023 Taxatlon and social security costs Other creditors Accruals Nel Pay Pension creditor 21,2g3 49,942 10,129 16,859 106,316 7,207 3,874 3,707 85.242 134.089 29
STAFFORDSHIRE SOUTH WEST CITIZENS ADVtCE BUREAU {a company limitèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 13 Net Movement in funds- currentyear Balance at Net 31 March Incorne 2023 Net Expenditure Transfers between funds Balance at 31 March 2024 Unrestricted funds General FLJnds 513,341 52,067 (21,900) 543.508 Designaled Funds: Buildings mainlenance Staff protection 51,667 41,756 51,667 41,756 Total Designated Funds 93,423 93,423 Total Unrestricted Funds 606,764 52,067 {21,900} 636,931 Restricted funds Energy Advice CitA - ¥qelp to Claim Henry Smith MASDAP MPFT Financial Wellbeing CitA- Pensionwise SBC Debt Project Trust Funds Adviceline The National Lottery Community Fund Energy Redress (879) {14,427) (681) 879 14,427 51,185 50,484 397 (397) 10,628 (5,617) (6,991) 5,009 6,991 14,212 3,732 3,661 566 10.155 17,873 4,298 10,155 5,370 5,370 Total Restricted funds 79,735 20,150 (28,595) 21,900 93,189 30
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU {a company Iimifed by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 13 Net Movement In funds - previous year Balance at Net Net 21 March Income Expenditure 2022 Transfers between funds Balance at 31 March 2023 Unrestricted funds General Funds 490,796 (2,104) 24,649 513,341 Designated Funds: Buildings maintenance staff protection 51,667 41,756 51,667 41,756 Total Designated Funds 93,423 g3,423 Total UnrestrtGted Funds 584,219 (2,104) 24,649 606,764 Restricted funds Energy Advice GitA- Help to Claim Henry Smith MASDAP MPFT Financial Wellbeing CitA- Pensionwise SBC Debt Project Trust Funds (2,540) 2,540 37,205 13,960 27,189 10,626 51,185 {27,189> 10,628 14,212 2,103 14,212 3,732 1,629 Total Restricted funds 38,834 68,090 (2,540) (24,64g) 79,735 31
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU la company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Fund Descriptlons General Funds These are the accumulated unrestricted funds of the charity. Designated Funds These fLfnds have been set aside out of the unrestricted funds by the trustees for specific purposes. Suildings Maintenance - This fund is to meet future premises repairs, refurbishment and maintenance costs. staff Protection This fund is to ensure that adequate funds are available to pay staff any potential redundancy entitlement. Restricted Funds MAS Citizens Advice Staffordshire South West has a grant for delivery of the Govemments Money Advice Service {DIAS), This service delivers specialist money advice and debt services. Citizens Advlce - Pension Wise Cit12ens Advice Staffordshire South West (CASSW) is a designated access point and centre for delivery of the Governments Pension Wise Service. The grant contribution received covers staffing costs and provision of accommodation for the external provider. CASSW identifies potential clients in need of the senjice and provides the referral mechanism and accommodation for delivery of the project. Energy Advice / Energy Redress A short-term project fund to deliver energy saving advice to people on low incomes and having difficulty ma nag i ng their utility bills. Henry Smlth A specialist service for clients with enduring ment21 health illness, working in the community alongside health professionals. Citizens Advice - Help to Claim The Help to claim service places advisers working in local Job Centres with DWP staff and assisting clients making claims for Universal Credit. Trust Funds This fund is to facilitate the payment of grants from charitable organisations following applications made by CASSW on behalf of clients. MPFT The service is to provide advice and support directly to people with enduring Mental health issues from the Gommunities in Staffordshire via the Access Service within MPFT to support underpinning challenges that are related to financial instability and challenges. 32
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Adviceli'ne National phone service providing generalist advice, aiming to resolve the issue at the first point of contact, and only referring the client to their local office where the issue cannot be resolved on the first contact. National Lottery Community Fund A grant towards the expansion of community services, to support people with the cost of living and protect low-income households from rising costs, 33
STAFFORDSHIRE SOUTH WEST CITIZENS ADVICE BUREAU (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 14 Analysls of n&* assets between fundts Unrestricted Restrlcled Designated Total 2024 £ Unrestricted Reslri¢led Designaled Toial 2023 £ Fund bglanc88 al 31 March 2024 are represenled by,, Fixe(5 assets Nel current assets 45.868 497,840 45,668 S84,453 93,189 93,423 513,341 79,735 93,423 686,499 Total 543,508 93,189 93,423 730,121 513,341 79,735 93,423 686,499 Commitments under operating leases As at 31 March 2024, the company had commitments under non-cancellab18 operating leases as follows- 2024 2023 Within one year Bebmeen iwo and five years After five years 34,843 79,449 27,972 51,132 1%,OQO 114,292 90,104 16 Relatecl Parties & Trustees TFiere were no related party transactions during the year. Details of trustees remuneration and expenses can be found in note 7 of these financial statements. 17 Status Staffordshire South West Citizens Advice Bureau is a charitable company limited by guarantee, therefore having no share capital, incorporated in England and Wales. As at 31st March 2024 there were 8 trustees (2023 - 11). Each trustee is obliued to contribute to the company a sum of £1 in the event of tlie company being wound up whilst he or she is a trustee, or within 1 year after they cease to be a trustea. 34