Charlty reglstration number 1151790 Company raglstratlon number 083672791England and Walgs) CITIZENS ADVICE COUNTY DURHAM ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CITIZENS ADVICE COUNTY DURHAM LEGAL AND ADMINISTRATIVE INFORMATION Trustee8 Mr M Smith Mr J Scollen Mr J WTaylor Mrs V Kmlklnson MrA Shield Mr D Blackwell Mrs J SmurthvMSte Ms A Bamett {Appointed 13 September 2023) (Appolnted 12 September 2023) (Appointed 23 January 2024) fvlrs A K4 Fahey Mr P Topplng Charlty numbor 1151790 Company number 08357279 Rog18terod offlco 71 Hlgh Street Spennymoor County Durham DL16 68B Audltor Allen Sykes Llmlted 5 Henson Close South Church Enterpri8e Park Blshop Auckland Co Durham DL14 6WA CITIZENS ADVICE COUNTY DURHAM CONTENTS Page Tru8te88' report Independent audftorfs report 7-10 statement of financlal actlvltles 11 Statement of flnandal F￿ltiOn 12 Statement ofea8h 13 Notes to the financlal 8l*ements 14-27 CITIZENS ADVICE COUNTY DURHAM TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 trustee8, who are also the d1￿CtorS for the PUTPO8es of company law pre8ent thetr annual report arKI financ5al stat&nents for the year ended 31 March 2024. Tho flnancl•l statements have been prepared In accordance wlth the accountlng policles 8et out In note 1 to the Ilnanclal 8tatemerrtB and comply with the Companles Act 2006 and "Accountlng and Reporting by Ch8rltle8.' ststement of Recommended Practlce 8pplicable to charities preparfng thelr 8ccourit8 in accordarbce wlth the Financial Reporting Standard applicable In the UK and Republic of Irelarml (FRS 102)" (effectlve 1 January 2019). ObJectlv•8 and actlvJtlo8 Cllzen8 Advice County Durham (CACD) provldes free. confidentlal, Impartial and Indopendenl advlce and Irrformatlon to beneflt the Ioc81 communlty, campaigning for change and to ensure Individua18 do not suffer through lack of knowledge or an inabllEty to expre88 thelr needs effectivety. These objectlves are shared by all mémbers of Citizen8 Advlce 88 per th8 twtn alm8: 1. To provlde advlce that p￿P1a need for the problem8 they face. 2. To Improvo pollci•8 and practlc•8 that affect people's Ilve8. Our alm8 and objoctlv•8 wlll be r•vlewed annually to en8ur8 that our actlvltl88 r•maln focu8•d on the 8taled purpo8e8. The truotees hav& pald due regard to guldance 188ued by the Charlty Commlg8lon In decldlng ￿et aCtIv￿leS thè charity 8hould undertak•, slgnfficant aGtlvltlo9 Our prlncipal acts'vlty remalned the provislon of free, conlldontial, Impartlal and independent a￿￿ee to cllentl In County Durham and acr0$8 the county to empower I1￿M to move forward. Some of our actmty was focusgd in our locaKty, with other key contra¢t8 belng dellvered on a natlonal basis. We have been able to fo¢u$ more on Ihe advice we give In our local communhl88. ensurlw a mix of local and remote advlc8 88nAce8. had an acfjve R8888rch and Campalgns team and a lot of work had beon done during th18 perlod to re-bulld and Improve cur approach to researth and campalgns. We understood the scale of potantlal Impact that 80dal change could have on the re8ldents of County Durham. Therefore, we prforftised research and campalgns 88 a key actlvlty and have bMn worklng on Gampalgn8 that affect ￿t loGal communlty bLrt a180 tho8• that have a broader UK Impacl. Volunt••rn We are grateful for tha 80 volunteers that glve thelr time to help people In both thelr communitK?s and the wlder population of County Durham. The 8oclal value of the Ilme they glve Is estimated at over £750,000 which18 more than the total statutory funding we receive for th18 8er¥ice. Achlev•monts and porfommnca 2023r24 has allowed u8 to rebulld our advice presence acroBs County Durham. rallonallstng the locations that use a8 ba888 and utili8ing other organisotions premlse$ to dellver advice in the local communty. We have tried to en8ure we have a local presence in all of the major tovms 88 well as outreaGhes in more rural locations. Acms the projects that Involve u3, the following summarlses our key 8Ctlvltles and beneffts we had achieved for people, both in County Durham and nationally: CITIZENS ADVICE COUNTY DURHAM TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Key Statistics Couniy Our17a,'ii Ime.mtserl Clfiiert5 Summary Issue8 1&19 >J42 &47$ Iir dIgnt(￿la￿Itr 3.￿fj 1A9r4 1.4b¢ 714 6YA& .JYr L•*b I.ILltii)nieo, 4 4U¥JJ Tr74 If.13Y,IIIJ r441)52 89 11 941 £40.gJO. f 1.1.3.47 6T1 IC¢.1¢4 £1¢m.or4 Tq> b¢nofft18sues Gonder 10.. i¥'?t F•nL•I• ?8&r￿ [7. ro *r4*d•luneN Dlsablllty l Lcr¥a-temi hgallh Top debt Is*u•a 11 Ethnldty FJ 91thh￿Oe 13Cmth' &¢hyui•d•L4 1 20 l Y1￿¢￿ 111 U.'•Ck IK ify( CITIZENS ADVICE COUNTY DURHAM TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Fknanclal revlew In 2023r24 the total Income decreased by 23% due to a slgnlffcant redudon In funding from Cltlzens Advlce. Total fund8 at 31 March 2024 were £1,298,035, made up of unr88trlcted fund6 and restricted funds. The re8tricted fijnds aB at the year end were £125.670 which r•flected the level of unspent funding r8cogni8ed in Ihe year as Sncome which would be spent in 2024125 or retumed to th8 funder If unspent. Tot81 unrestrlcted funds as at 31 March 2024 were £1,172,365, 8 reduction of £501,874 from the previou8 year. Re8ervo8 polky have ration81188d both the 8ervice8 we provlda arKI the facilitte8 that we require throughout the year. We now employ 80 staff and hail contractual re8pon81bllllies lor 4 premises. As 8uch, w8 needed 8 r888ni88 pollcy to b• able to; run e888ntlal 8orvlces for p8ople of County Durf￿M In the event of fvndlng Ios8; hold fvnd8 In case of unplanned closure of projects; fund m8Jor unplanned work8 to capltal 8888t8 ¢)wr*d by us. Tho valu• of free re8erv•s requir•d to achlwe th889 goals wa8 wvaluatad tsvlc• y8arfy by the Fhanc& Sub Cornmlttea and recommended for approval by the Tru8t86 Board. The r8serfft8 thrgat 8gr8ed In February 2024 was £540,000. Unrestrfcled free reserv￿ h81d by CACD 31 March 2023 were £513,389 whlch is below the target 18vel In tr company'B above re8eNe pollcy. However, appropriate Cost lxrttlng mea8ure8 have been implem8nt8d to enable the charlty to try to increase Its free r88erves to the tsrgeted level In Ihe future. R18k The risk regi8t•r w88 revlewed quarterfy by the ex•cutlve team and annually by tha Tru8ts0 Board. held bi-monthly Infonnatlon Rlsk Management meellng8 vlth a S6nlor Infomiatlon Risk Offlcer and Senlor Manayement Te8m. In th18 meetlng, we fevlewed data b￿Ches, data impact a8se8$m•nt8, be8t pracllce and the inforniatton rl8k asset regl8ter, We 8180 had a risk managemant strategy whlth was reviewed regularly by the executive team and annu8lly by the Trustee Board. Polici88 and procedures were revlewed on an annual basls or In r08pon8e to Ghange8 wSlhln the dwrty or external factors such 88 legislation. Plans for luturn ￿rfOd¥ Short femi (< l y•ar) Adapt the balance of local, reglonal and national advice service8 that we provlde. Respond to the DCC Advlce Revlew proce88 With a robust solution that works in partnership wlth other10¢81 advice agencie5 to provlde the bést possible support for people of County Durham. Continue to Implement new ITAelecommunications systarns to support future tlexible development of services. Methum Term (1- 3 yearn) Implement strategy to addre88 change8 (Includlng known, expethd and unexpected 8cenario8) to the extemal landscape. Ensure resources are at sultabla leve18 to enable optimised delivery of advlce, acro88 multlple channe18 (face to face, email, phone, vldeo. etc.). Be at the heart of alllance working and collaboration. contribu11r￿ to Shared intslligence in the COLmty. structure, governance and management were established under a memorandum of a880datlon whlch ouulned the objects and powers of the ch8rSlabl8 company and are govemed under ts artlcles of association. adopted an UFLlated goveming documerrt In 2022r23. which Is based on the model Cltlz6ns Advlce govemance method. CITIZENS ADVICE COUNTY DURHAM TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who ar8 also the direGior8 for the purp06e of compary law, and 4*tt0 6er¥ed during th8 year and up to the date of signature of the financt81 stat8ments were: Mr M Smith MrA J PenBom MrJ Scoll Mr J WTaylor Mrs V Wllkinson MrA Shleld Mr D Blackwell Mrs J Smurthwaite Mr8 J Wrigley Mr8MARoe (Reslgned 12 Septembar 2023) (R•8lgned 28 August 2023) (Appotnted 12 September 2023 and reslgned 12 October 2023) {Appolnt•d 13 September 2023) (Appolntad 12 September 2023) (Appolnled 23 January 2024) MsABamett Mrs A M Fahey Mr P Topplng RecNlkn•nt and appolntm•nt of tru8to•• TnJ8tee8 8re openly recrutt8d wllh 8p8crftc 8klll8 ar￿ 8xperien¢8 targeted accordlng to Th18te8 Board n86d. Potentlal tru8t0•8 gra a8ked to submlt a CV and are Subsequently intervlewed by a panel ry)n8iStlng of at least two 8x18tlng tru8t868 (¢)ne ¢1 whorn Should b8 tha chalr) arxl head of resources. Tru6tee8 are appolnlgd at the annual general meetlng Ixrt may h ¢D-QPtod by the Trustee Board throughout the year where approprfate. None of the tru8taa8 has any benofici81 Inter88t In the company. All of th8 trust808 are memberB of the company and guarantee to contrlbute £1 In thè ￿ent of a wlndlng up. Orqanl•atlonal structur• We we governad by a Tru8tee 8oard of direclor8 who are 8180 th• th8rity'8 truste68, Sul>commlttees Indudi Personntsl, Research and C8mpalgn8 and Finance report to the Trustee Board wlth t88k and finlsh committees fornied 88 requSred. Trustee Board usually meet on a bl-monthly ba81$ with more regular meetlngs held as and w￿n need dlctateB. The day-to-day runnlng of the charlty 18 delegated to the executlvo team led by tho chief executive officer. The Tru6tee Board is independent from the managemerrt of the charlty. Inductlon and tralnlng of tru•ts•8 All newty-appolnted trustees are glven a detsiled SnlrodLKUon to the charws work and are supplled with relevant documents such a8 governing documents and annual accounts. They are al80 Invlted to m8et wlth existiThJ Stall and tnJstees end vlslt servlces %%tsre suitable. They are also encouraged to undert8ke relevant tralnlng opportuniUe8 8nd rnust undertake certain mandatory tralnlng 8uch as Data Protaction. are 8 rnemb8r of Cltlzens Advice, th• oper￿Ing rAme of the National Association of CItLzen8 Advlce Bureaux which provide8 SUPPOrt, guidance and training to memb8rs. They also provide a national case managemenl and Infcffmation system. A condition of membership 18 to meet and maintain natlonal advice and management standards which are audlted regularly. Vve meet Ihe Advice Quality Standard and are registered with Ihe Informat#)n Commi881oner's Office (ICO) and the Financlal ConductAuth(xity (FCA). We are 8 fv11 membar of the Advlce in County Dutham (ACD) partnershlp, ￿ttich works with all the advlce woviders in the county to enabla effectlve referrals into approprlate services, upsklll the advlce sector and encourage collaboration. CITIZENS ADVICE COUNTY DURHAM TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Rlsk managemont The trustses had a duty to Identlfy and review the rlgks to ￿[ch we are exposed to and to erwre approprt8ts controls are in place to provlde reasonable a88urance agalnst fraud and error. Pay Pollcy lor 8enlor Stsff Th8 pay of the senlor Stsff is reviewed ￿nUallY by the Trusleo Board v￿thOUt staff belng presenL statsmont of tru$tee8' rn8pon•lbllltlo8 Tha tnistees, who arè also the directorg of Cltlzens Advice County Durharn for the purpose of compaw law. are responsible for preparing the Trustees, Re￿ and the fin8nclal st8tÉments in accordance wlth appllcable law United Kingdom Accountlng Standards (United Kingdom GeneralWAccepted Accountlng Practice). Company Law requires the trustees to prepare ffianclal statements for éach financial year ￿th[ch give a truè 8rKI lalr vlew of the 8tste of affalrs of the charlty and of the Incoming resourceB and appllcafjon of r¢8our¢e8. Includlng the Income and expendlture, of thè charhablo company for that year. In preparing the88 InancS81818tomentB, tho tru8tee8 are r•tyir￿ to: - select 8ultable accountlng pollcles and than apply them ¢on8I8tentty; . ob8eNo the methad8 and prfnclples frn the Chartt188 SORP., . make Judgements and estlmates that are re8s0nable and prudent; - slate whethar appllcable UK Accountlng Standard8 have beon followed, 8ubJeca to any mater181 departur88 dl8clo8ed and explained In thg fin8nclg18tat•merrt8; arKI - prepwe the flnanclal statements on th• golng concern bas18 unle88 It18 Inappr¢prlat¢ to presume that Iho charrty wlll contlnue in operation. The truste88 are re8pon81ble for keeping ad8qua18 accountlng records that di8d086 wlth r888onabl& accuracy at any tlme the fnanclal p085llon of the charlty and enable them to enswe that the financlal 8tatements Comply wlth the Clynpanies Act 2006. They are a180 r8spon8lble for safeguardlng the a88ets of the charlty and hence for taklng reasonable 8taps for Ihe prev•ntion and datectlon of fraud and Ot￿r Irregularitio8. Audltor In 8c¢ordance wlth the companW8 artlcles, a resolution proposlng that Allen Sykes Llmlted be re8r4x>lnted 88 audltor of the compary wfjll ba put at a G•nar81 Meetlng. 8rnall company provl8lon• Thls report ha8 been prepared In accordance wlth provlslons appllcable to Gompanles enllt*i to the small comp¥k8 &Yemption. CITIZENS ADVICE COUNTY DURHAM TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 DISCI￿￿r• of Inforniallon to audltor Each of the trustee8 haB confltm8d that there is no information of whlch they are aware wflch 1$ rèhvant to the audit, but of which the audltor is unawaTe. They have further confirnied Ihat they have taken appropriate Sleps lo identify such relevant Informauon and to establish that the audltor Is aware of such infonnation. The trustees, report was approvad by tha Board of Tru$tee8. MrJ Trustse len CITIZENS ADVICE COUNTY DURHAM INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CITIZENS ADVICE COUNTY DURHAM Oplnlon have audited the finanual statements of Crtizens Advice County Durham (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activitie8, the sL3tement of financlal posltion, the statement of cash flows and notes to the flnandal 8tatements. induding 8lgnlficant accounting policies. The financial reporting framewoth that has been applled in thelr preparation 18 appkable law and United Klngdom Accounting StandardB, IrKludlng Financlal R8POrtlng Standard 102 The Financlal Repo￿ng Standanl appllcable In the UK and Republk ol lTrland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the finandal 8t8tem&nts: give a true and fair view of the state of the charitable company's affalrs a8 at 31 March 2024 and of ts Incomlng resource8 and applicatlon of reS￿rces, for the year then ended: have been propety prepared in accordance with United Klngdom Generally Accapted AccountiNJ Practio; and have been prepared In accordance ￿th the requirements of the Companles Act 2008. 8a81s for oplnlon We conducted our aud￿ In accordance wlth Intematlonal &andard8 on Audltlng (UK) (ISA8 (UK)) and appllcablo law. Our re8pon8ibilltl&8 under thos6 8tsndard8 are furth8r descrfbed in the Audltof8 responsibilitle8 for lh8 audft ol the financl81 statements section of our report. We ar8 Independent of the chaty In accordance whh th8 ethlc81 requlFements that am relevant to our audlt of Ihe financlal statement8 In the UK. InGluding the FRC'B Ethlcal Standard, and we have fvlfllled our other ethlcal respon8lbllltl88 In accordance wlth these requlrement8. belleve that the 8udlt evldence we have obtalnod18 8uffiGient and approprFate to provlde a basi$ for our op1r￿On. Con¢lu•lonB rnlatlng to golng concorn In audltlng the tlnancial 8tatement8, we have conduded that the tru8tee8' Use of tho going concèm ba818 of accountlng In the preparation of the ffln8n¢lal 8tat8men18 18 approwlate. Ba8&1 on the work we have performed, w• have not Identlfied any materlal uncertalntles relallng to •venl8 or condltlon8 that, indlvldually or collectively, may cast 8lgnfficanl d￿bt rm the charty'8 abillty to contlnue as a going concem for a perlod of atleast tyielve months frnm when th8 flnancial 8tatements ara authorited for i6sue. Our r08pon81bllltl68 and th• re8pon8ibilltle8 ol the trustee8 wlth r•8pect to golng con¢em are de8crlb8d In the relevant 88Cllon8 of thli rewt. Oth•r Informatlon The other Informatlon compri888 the Infomiatlon Included in tho annual report other than the finK￿l81 8t8tem8rt8 and our audltovs report thereon. The tru8tee8 are responsible for the other Informatlon contained wthSn the annual rewt. Our opinion on the financlal statements doe8 not cover the other Informatlon and we do not expre98 any fomi of a88urance conclusion thereon. Our responslbllity Is to read the othar infomiation and, in doing 80, conslder whethw the other Infomiatlon 1$ matsrlally inconsistent wlth th• flnandal statements or our knowledg8 oblaln8d In the course of the audit, or otheNiisè appears to be materially mlsslatad. If VM Identlfy such matertal inconslstencles or apparent materlal mlgStatement8, we ar8 required to determine whether this gives rise to a matetsl mls8tatem8nt In the ffinancial 8tatement8 themselves. If, based on the WO￿ we have perfomed, we conclude that there Is 8 terial mlsstatement of th18 other infonnation. are requlred lo rewt that facL We have nothlng to report in thi8 reg8rd. Matters on vthlch we aro rnqulred to rnport by 6x¢eptlon We heve nothing to report in respect of the following matters kn relalion to which the Charikn'es (Accounts and Reports) Regulations 2008 requlre us to report to you rf, in our opinion: the Inft>miation given in the financial 8tat8ments Is Inconsistent in any material respect vthh the tTUStee3' sufficient accounting r8cord8 have not been kep( or the financlal statements are not In agreement with the accountlng records; or we have not roceived all the Infom)atian and explanations VI￿ requlre for our audit. CITIZENS ADVICE COUNTY DURHAM INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE COUNTY DURHAM Re8pon8lbllltle8 of trustee8 As explained more fully in the StateM￿t of Iru8tees' respor￿1b1l1tses, the truste88. who are also the directors of the charity for the purp)se of company18W, are re8ponsibJe fy the preparatlon of the Ilnancial Statements and for being satlsfied that they glve a true and falr vlew, and for such intemal control as the trustees determine Is necessary to enable the preparation of finarKial S￿ements that are free from materlal misstatsment. whether due to fraud or error. In preparing the financlal statements, the tru8te88 are re8ponsible for assesslng the charity's abilty to continue as a going concern, discloslng, as applicable, rnatt￿6 relaled to going concem and using the going ccmcern basi8 of 8ccountlng unle88 the tru8t888 either Intend to Ilquidate the th8rftable company or to ¢ea88 OP8r8tions, or have no realistic ahematlve txrt to do so. Audltorfs rn8pon81bllllle8 for th• 4udlt of the Ilnanclal 8tstsm•nts We have been appolnted as audltor under sectlon 144 of th• CharilAe8 Act 2011 report In accord&nce wlth the Act and relevant regulations made or havlng effect ther￿nder. Our obJedive3 are to obtain reasonable a88ur8nce about whether th8 finarKial 8tatements as a whole are free from material mi88taternent, whether due to fraud or error, and to 588ue an 8udttorf8 report Ihal include8 our opirNon. Reasonable a88urance 18 a high level of a88urance but 18 not a guarant86 thal an audll corKluGted In accor(lance wllh ISA8 (UK) will always detect a materlal misstatement ￿en It 6x18ts. M588talements can aflge from traud or error and are con8ldered mateTlal If, Indlvldually or in the aggregate, they could rn860nably be expected to Influence the econc￿lC d8ci8lon8 of user8 tsken on ba818 of the8e financlal Statements. Irtegularllles. Including fraud, are in8tance8 of non-compllance with law8 and regulatlon8. d￿19n procedur88 In Ilna wlth our re8pon8lbS1Stle8, Outlined above. lo detect mat•rlal mi38tatements In respect of irregularltles, ind￿lIng fraud. The extent to which our procedur88 ara capable of dat•ctingI￿egUIaTrtIeS. Including fraud 13 dotsiled below: CITIZENS ADVICE COUNTY DURHAM INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CITIZENS ADVICE COUNTY DURHAM Our apwoach to identlfylng and assessing the risks of materlal misstatement In respect of Irregulariti88. indLxling fraud 8nd non-complian￿ wlth laws and regulations. wa8 as follM'. the engagement partner ensured that the engagement team coll8Ctlvely had th8 appropriate compotono, capabilities and skills to Iderrtlfy or recognise non-compliance wlth applicable laws and regulation8' we identiffied the laws and regulations applicable to the c Charter•d Accountants statutory Auditor S Hen50n C108e South Churth Entertyise Park BIshopAuckl￿d Co Durham DL14 6WA -10- CITIZENS ADVICE COUNTY DURHAM STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unre8trlctsd R•strlctsd fund8 2024 Total Unrestrlctsd Restrlct•d fvnds fund8 2023 2023 Total 2024 2024 2023 Nots8 Income from: Donat￿n8 and legacies Charitable actlviti89 Inv88tm8nt8 411 411 1,481.271 1.236,342 2,717,613 31,163 31,163 1,515 1.515 849,470 2,696,860 3,546,130 34.981 34,961 Total Incomo 1,512,845 1,236,342 2,749,187 885,948 2.696,860 3,582,606 Expondlthrn on: Choritablo actlvltle8 2,031,493 1,381,W 3,412,557 1,061,589 2,472,627 3.534,216 Total •xpondltur• 2,031,493 1,381,oe4 3,412,557 1.081,589 2,472,627 3,534,218 Not Incom•l{•xp•ndltur•) {518,648) (144,722) (663,370) {175,e43) 224,033 48,390 Tran8fer8 betvmen 13 {65,226) 65.228 70,263 (70,263) Othw recognl•od galns and10¥•o¥: Revaluation of tangible fixed assets 82,000 82,000 Net movoment In funds (501,874) (79,496) {581,370) {105,380) 153,770 48,390 Reconclllatlon of funds: Fund balanc&$ at 1 April 2023 1,874,239 205,186 1,879,405 1,779,819 51,398 1,831,015 Fund balanc08 at 31 March 2024 1,172,365 125,670 1,298,035 1,674,239 205,168 1,879,405 The statement of financlal 8Ctlvltla8 Include8 all galn8 arKI10&8es recognlsed In the year. All Income and expendiiure derive from continuSng actlvltles. 11 CITIZENS ADVICE COUNTY DURHAM STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Fixod a88ets Tanglble assets 14 658,976 582,103 Curr•nt a38ets Debtor5 Investrnents Cash at bank and In hand 15 16 176,341 11,285 607,849 208,789 85,772 1,235,259 795,475 1.529,800 Crodltor8: amounts falllng du• wlthln on• year 17 (156,418) 32,498) Net current a888ts 839,059 1297,302 Total a8s•ts l•s• curr•nt Ilabllllle• 1,298,035 1,879,405 Incomo fund8 Restrlcted fur￿6 20 125,670 205,186 D081gnatsd fundg Gen8r81 unre8tricted fund8 Revaluation re8eTve 21 587,098 503,267 82,000 491.878 1,182,561 1,172,365 1,674,239 1.298.035 1,879,405 Tho comp8ny18 entitl•d to th• •x¢mptlon from the audlt requlremerrt contalned In Bection 477 of the Compan1•8 A¢t 2006, for the year ended 31 March 2024. although an audlt has boon Gqfrled oul under sectlon 144 of the Charltle8 Act 2011. Thè dlrector8 aCkn￿edge th8lr ra8pon81bllftle8 for compEying with the requlrements of the Companles A¢t 2006 vdth respect to accounting records and the preparatlon of fin￿¢la1 statements. The members have not requSred the company to obtaln an audlt of Its tlnanclal Statements under the requirements of the CompanlesAct 2006. for the y8ar in question in accordan￿ with section 476. These financial ststemerrt8 have been prepared In acCOrdar￿ with the provlsion8 applicable to companies subpct to the small companles reglme. The tlnanGial Stat￿llents were approved by the Tru8tee8 on . . . i o IkcwbJ 20LIp Mrs V Wlkinson Trusts0 Company regkntratlon number 08357279 12- CITIZENS ADVICE COUNTY DURHAM STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash ftow8 from 0￿rntIng actlvltlos C88h ab80rbed by Operations 25 (733,C60) (137,815) Investlng actlvltl•s Inveslmert Income received 31,163 34,981 N•t cash gonernted from Inve8tl actlvltle8 31,163 34,981 Flnanclng actlvltl•s Repayment of borrowing• {101,994) N•t ¢a•h u••d In flnanclng •Gtlvltlo8 (101,994) Net docrea8• In cash and cash oqulval•nts (101,897) (204,848) Ca8h and c88h aqulvalents at beglming of year 1,321,031 1,525,879 Ca•h and ¢a$h •qulval•nt• at ond of year 619,134 1,321,031 Relatlng to: Cash at bank and In hand Short term depoglt$ IndLKled in C￿Prrt a88et investmer 807,849 1,235,259 11,285 85,772 619,134 1.321.031 13- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcl•8 Charlty Inforniatlon Citizens Advice County Durharn is a PTivate company limited by guarantee Incorporated Sn England and 188. The registorad office Is 71 High Stree( Spennymoor. CoLmty Durham, DL16 6BB. 1.1 ACCI￿ntIng convontlon The financial 8tat8m8n18 have. b88n prepared In accordance with thè Companle8 Ad 2006, FRS 102 Tr Financial Reportlng Standard ap￿1¢able in the UK and Republlc of Iraland" ("FRS 102.) and the Charities SORP "Accounting and Reportlng by Charities: Slatement of Recommended Practlce applicable to charitie8 preparlng thelr account8 in accordance wth the Flnancl81 R8PC)rting Standard appli¢able In the UK and Républic of Ireland (FRS 102)" (effectlve 1 January 2019). Tha Charity is a Publlc Benefft Entty as definad by FRS 102. The flnartlal ststements are prepar•d in Sterling, whlch 18 the functlonal currency of the Charity. Monetary arno￿ts In thesè financial statements w6 round8d to the n8ar88t £. The financlal 8tatemènt6 have beèn prepared under Ihe hlstorical cost convondon, modmed to Include th8 revaluatlon of freehold propartl88. The princlpal accountlng polides adopted are 8et out below. 1.2 Oolng conc•m At tho tlma of approvlng the fln8nclal ststernents. Ihe trust¢e6 have a reasonable expectatlon that the charlty ha8 adequate re80urce8 to conwnue In operational eXi81ence for the foreseeabla futur6. Thus th& tr￿tee6 corfnue to adopt the golng concem ba81s of accountire kn preparfng the finandal Statements. 1.3 Charftable funds Unrestricted funds are avallable for use al the d18cratlon of the trustO88 in ftjrtherance of their Charitable Objectives. R88trlcted funds are Subject to specific condition8 by d￿0T5 or gr8ntors 88 to how they may be used. The purpo8•8 and u806 ol th8 rostrlcted funds are Set out Sn the notes to the financi81 stetements. Endowment fund8 are 8ublect to speclfic condtion8 by d￿Or6 that ihe Gapltal mu8t be malntsSned by the 8rfty. 1A In¢om8 Income 16 r6cognlsed when the charlty18 legally entftled to It after any perforniance condldon8 have been mat, the amounts can be measured rnliably, li is probable that income wlll b8 recelved. Cash donations are recognised on re￿ipl. 0￿r donation8 are recognised once the charity has been notified of the donation, unles8 performance wnditions require deferral of the amourrt. Income tax recoveiable In relation to donation8 received under Gift Aid or de8d8 of covenant Is recognised at the time of the donation. Legacies are recognised on recèipt or otherwise rf the charity has been notified of an impending dBtrlbutlon, the amount is known. and recelpt IB expected. If the amount 18 not known, the legacy is treated as a contingent asset. -14- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ac￿UntIng pollcles Icontlnued) 1.5 Expendltur• Expenditure Is recognlsed once there is a legal or constructlve obligatlon to transfer economlc benefft to thlrd party, Itfs probable that a transfer of •conomSc benefits will be requlred In settlement, and the amount of Ihe Obliga￿On can be mea8ured rellably. ExperKltture 18 ¢la88ttled by actmty. The ¢08ts of each activlty are mada up of the totsl of dlr&t Costs and ghared costs, including 8UPPOrt costs Involved in undert8klng each activity. Direct costs attrfbutaI￿e to a single actlvity are allocated dlreclly to that aGtivity. Shared costs which contribut8 to more than one activity and 8UPPOrt costs which are not attributable to a 81ngle actlvity are apportioned be￿een those aCti￿tkn on a ba818 consistent wlth the use of r880urce8. Central staff costs are allocated on the basis of time spent, and depreciatlon charges are allocated on th6 portk)n ol Ihe a88et'S U8e. 1.6 Tanglblo flx•d a•set• TangSble )Ixed assets are Inltlally megsuied at C08t and 8ub88quantly measured at cost or valuatlon, not of depreclatlon and any Imp8lrnient1088e8. Freehold land and bulldings are carrled at falr value at tho rewdng date. Changes In fair value ar• recognl8ed In n•t IrKomel(•xpenditure) for the year. Depreciafjon18 recognlsed 80 a8 to write off the co3t or valuatlon of a880ts les8 thelr resldual values over thelr U8eful live8 on the foll￿￿ng ba8e8: Freehold land and bulldlng8 Leasehold property Improvem•nt8 CompLrter & office equlpment not dapreciated 10% 8tra¢ght line 25% straight lino The galn or loss arising on the dlsposal of an a88et1s deternilned as thè d￿rence betsveon th• 8ale proceed8 8rMI the carrying valu• of the a888t, and18 recognlsod in the 8tatomont of financlal activities. 1.7 Impalmmnt of flxod a980ts At each reporting end date, the charity revi8W8 th& carykng a￿￿UnIS of Its tanglble as8ets to detemiS ether thera 18 any Indlcallon thal thoBe a88ets h8VO suffered an impaimient 1098. If any 8uch indicatlon exists. tho recoverable amount of th• 8888t 18 e8tlmated In order to detemino the extent of the impalrrmrrt loss (rf any). 1.8 Ca•h and ca8h aqulvalonts Cash and ca8h equivalent8 Include Gash In hand, deposlts held at C811 with bank8, Qther short-temi Ilquld Investments with original maturities of three month8 or less, and bank overdrafts. Bank overdr8ft8 are shown hln borrowln98 In current158bllltte8. 1.9 Flnanclal In8tfuments The charity has elected to apply the prov18ions of Secllon 11 'Baslc Flnanclal Instruments, and SeGtion 12 'other FinarKial Instruments Issues. of FRS 102 to all of Its financAal instwments. Flnandal instrurnents are recognlsed In the charlty's balance she8t when the charlty beGome6 party to the c￿traCtUal provisions of the instrument. Financial assets and Ilabllllles are offset, with ts net amounts presented in the finandal statements, when there is a legally onlorceable right to set off Ihe recognlsed amounts and ther8 16 an intantion to settle on a net basis or to realise the asset and settle the liability simultaneously. 15- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounllng poll¢l•s (Contlnued) Basle financlal amets Baslc flnancial a8Sets, whlch Ir￿lUde debtorn and cash and bank balance8. are Inltlally mea8ured at tran8action wlce IndLKllng transadlon costs and are subsequenuy carried at amortlsed ￿¢t using the effeC￿ve interest method unless wran9ement COr￿tiluteS a financing transaclion, where the transaction is measured at the present value of the fulura r8ceipts discounted at a market rate of interesL Flnanclal assets cl838llled as receivable ￿thin one year are not arnothed. Baslc flnanclal Ilabi7ft1 Basic flnanclal liabilities, including credltOf8 and bank loans are initially recogni88d at transxtlon prlce unle88 arraThJement constitutes 8 financiTVJ transaction, where the debt Instrument is measured at the present Value of th& fvtur8 payments dIsco￿thd 8t a market rate of interest. Financial118bilities dassmed a8 payable wrthin one year are not amortl8ed. Debl In8tNments are 8ub8equ•nty Carried at amortl8ed cost, uslng the effectlva Intere8t rate meth¢xl. Trade credltor8 w• oblSgatlon8 to Pay for good8 or 80rvic￿ that hav• been acquSred in the ordlnwy cour8e ot operatlon8 frorn 8uppller8. Amourrt8 payabla are clas8lfied 88 current Ilabllltles bf payment Is due wlthln one yaar or less. If not. they are PT888nted 88 fK)n4urrent liabSlltSe8. Trade credlt¢)rs are recognlsed Inltl8lly at tran88Ctlon price and 3ubsequently measured at amortlsed cost U8lng the effectlve interest method. Derncognftlon of flnanclal Ilabllftles Flnancial 11obllStle8 arn derecogn18ed when the charity'8 corrtractual obllgatlons 8xplre CY are d18charged or cancdled. 1.10 Employeo benoffts The cost of aty unused hollday entld8ment Is recogni8ed in Ihe perlod In whlch t￿ omployee's 8ervlces are recelved. Tenninalion ben6flts ar• recognised immedlately a8 an expen88 when the charlty18 demonstrably committed to termSnate Ihe ernployment of an employee or to provlde tsmiinatlon benefits. crftlcal accountlng •811mato8 and Judg•m•nts In the appllcatlon of tha charity's a¢¢ountlng pollcte8, the trustee8 are requlred to make luthJements, a8￿mateS and a88umptions about the caThylng amount of asset$ 8nd liabilitie8 thal are not T8adity apparent from other 80urce8. The estlmates and associated aGsumptions are based on hlstorlcal experfence and other factors that are considered to be relevant. Actual results may dlffer from th88e 88tlmat88. Thè estimatss and underlying assumption8 are reviewed an ongoing basis. Revlsions to accountlng esllmates are recognised in the Peri￿ in vthich the estimate Is revised where the revisi¢)n affects ￿lY that period, or in peri(xl of rev18ion and future peTlix18 whwe the revlsion affects both current and future perfods. Company Umlted by Guarantse The company is limited by guarantee. At 31 March 2024 there were 10 members (2023- 9 members) each of whom had urKlertaken to contrlbute an amount not exceeding £1 In the event of the company wirKling up. 16- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomo from donatlons and legacies Unrestrlcted Unrnstricted funda fund8 2024 2023 Donatlon8 and glfts 411 1,515 Charltablè actlvltl Infonnatlon Informatlon & Advlco & Advlce S•NIG88 Servlces 2024 2023 Perfomi8nce related grants other Income 2,714,521 3,538,060 3,092 8,070 2,717,613 3,546,130 An8ly818 by fund Unre8trlcted funds Re$trlcted fund$ 1,481,271 849,470 1,236,342 2,696,660 2,717,613 3,54e,130 Fundlng Analys18 Durham County Councll Fundlng citlzan8 Advice Funding European Social Fund Fundlng Other Fumllng 591,e83 T12.863 1,869,772 2,448,845 89,907 226,646 283.088 2,714,521 3,538,080 Incomo from Investments Unrn4trlct•d Unr•8lrlcted funds fund8 2024 2023 Rental income Bank Interest receivable 19,333 11,830 18.750 16,211 31,163 34,961 17- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINIJED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charftablo acllvltlos Inforniatlon Infornmtlon & Advlce & Advlco Servkes Servlces 2024 2023 Dlroct CO8t¥ Staff c08ts Other costs 2,592,006 153,620 2,699,189 228,753 2,745,626 2,927,922 8hare of 8qlPPOrt and governor￿• colts (8•e not• 8) Support Govemanc8 650,424 16,507 593,606 12,688 3,412,567 3,534,216 Anaty•h by fund Unre8th'ct•d funds Restrlcted fund8 2,031,493 1,381,064 1,081,589 2,472,627 3,412,557 3,534,21e Support Costs allocated to actlvltl88 2024 2023 Staff c08ts Depredation Othèr staff coBts Offlce co8t8 Premises C08t8 Other costs Govemanca c08ts 297,634 5.127 12,203 164,401 145,967 25,092 16.507 295,357 7,958 21,110 111,586 1312(K) 26,395 12.888 666.931 606294 Analys￿ betwe8n: Infomiation & Advlce Servlce8 8e6.931 606.294 18- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support Costs allocated to actlvltlo8 (Contlnuedl 2024 2023 Governanc• costs comprls•: Audit fe88 Leg81 and professional Othèr govemance costs 5,729 2,428 8,350 5,605 290 6,793 16.507 12.888 N•t mov6mont In funds 2024 2023 The net movement In fund8 18 stated after ch8rglngl(cradltlng): Fee8 payable for the audIt of the Charity's financlal 8tatements Depr•clation of ovmed tsngible fixed assèts 5,729 5,127 5,605 7,958 10 Tru8ts88 None of the trustee8 (or any per8on8 Gonnected wlth thwn) recelved any remuneratlon or benefits from the charity durlng the year. 11 Employees The average monthly number of ernploye•s durlng the year wa8: 2024 Number 2023 Numbèr 121 129 Employmont co•t• 2024 2023 Èges and 8al8rie8 Social securfty Costs Other penslon costs 2.597.348 195.240 97,052 2,684,797 217,080 112,e69 2.889,640 2,994,528 The averaga number of full tlme equivalent employee8 during the year was 121 (2023- 129). There w&r8 no employees wlM)se annual remunoratlon wa8 more than £60,000. 19- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employe08 Icontlnued) Remunoratlon of key m•nagoment per80nn•l The remuneration of management per80nnel was as foll0v￿. 2024 2023 Aggregate compensation 58,104 59,475 12 Taxatlon The charity 18 exempt from laxatlon on Its acti¥itie6 becau8e all Its income is applied for charitable purposes. 13 Tran810rn The fund transfers r8lat8 malnly to transfers from restrlcted fund8 to unrestrkted fund8 where non monetary expendlture {e.g. management charges, et¢) has been released durlng the year. The transfers have been made In ordèr that the restrlcted funds shown in the balance shaet at the year end shows the total anount ol fundlng remalnlng which has been restrlcted in ts purp088. In some In8tanc8s transfers from unrèBtrfct8d fvnd8 have been made to re3lriGled fund8 where the expgndlture wa8 greater than Ihe income recalved. 14 Tanglble flxed a88at8 Frnohold land L•a8ehoW CoMput•r a and Iwlldng• propty offl¢• Improvement• •quI￿¥Tht TolAI Co•t or valuallon At l April 2023 Revaluatlon 575.000 82,000 98,391 117.931 791,322 82,000 At 31 March 2024 857,000 98,391 117,931 873,322 Depreclallon and Impalrniont At 1 April 2023 Depreciation Gharged in the year 94,061 2,354 115,158 2,773 209,219 5,127 At 31 March 2024 96,415 117.931 214,346 Carylng amunt At 31 March 2024 657.000 1,976 858,976 At 31 March 2023 575,000 4,330 2,773 582.103 The freehold property includes property et High Street, Spennymoor and AmistorKJ House, Durham. The8e are carried at the far value. The directors have assessed their market V81ue based on valu*'orts undertaken by McGillivrays Chartered Sur4veyors on 12th August 2024 and Graham S Hall Charter8d SuTveyrn on 23nl September 2024 respectivety. At 31 March 2024, had the revalued assets been carrled at hlstorfc cost less accumulated depreclatlon and accumulated impairment 108888, thelr carryin9 amount would have been approximatety £456.460 (2023 - £461.491). CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 D6btors 2024 2023 Amounts falllng duo wlthln one year: Trade debtors Other debtor8 Prep8ymnts 28,5eo 116,958 30,823 122,252 55,843 30,674 176,341 208,769 16 Current auot Investmènts 2024 2023 Investrn￿l bank 8ccount8 11,285 85,772 17 Cr•dltor8'. amounts falllng due wlthln one yoar 2024 2023 Other taxatlon and 60cial 8ecurEty Deferred funding income Trade creditor3 Other Gredltus Accruals 37,334 19,635 65,440 12,986 31,021 57,144 21,704 62,878 44,189 46,583 18 166,416 232,498 18 Governmont grant8 Deferred Income18 InclLthd in the financlal 8tatemants 86 follow8: 2024 2023 Defe￿ad Income18 Included withln: CLwrent Ilabiliti8s 19,635 21,7D4 Movements kn the yew,. Deferred Income at 1 April 2023 Released from pr8ViOU8 Period8 Resources deferred In the year 21.704 (21,704> 19,635 148.284 (141.784) 15,204 Deferred IncL¥ne al 31 Ma￿h 2024 19,635 21,704 -21- CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Retlrement bgngflt %heme8 Defined contrlbudoft Schemes Charge to profit or1088 in re8r￿& of defined contribution schemés 97,052 112,669 Tr8 charlty OP8rate8 a defined contribution pension 8Gheme for al qualifylng employee8. The 888ets of the 8cheme a￿ held 88parately from those of the charlty In an Ind8P8ndently administered fund. ¥x 88 I I OpC> i ¢0 Q (4 rfj g£sE' I { *25211° EE SE I I Iiill E I 1 s¥Rilai:'Ili, 1 1 2 88wLUolu CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Unrostrlctad lunds The unrestrlcted fund8 of the charty compri88 the unexpended balances of donaoons and grants which aro rb)t subject to specific conditions by donors and grantors as to how they may be used. These include designatsd fund8 which have been set aslde out of unrestricted funds by the tru8te88 for speclfic purpo8e6. At l Aprfl 2023 Incomlng R880urc ro8OIIIC•8 expnd Tran8fer8 Galn8 and At 31 M•rch 2024 Capltal Fund Revaluatlon R888rve General fvndl 491,678 (5,12n 18,547 505,098 82,000 82.000 585.287 1,182,561 1,512.845 {2.026,368) (83,773) 1,874,239 1,512,845 (2,031,493) (65,226) 82,0 1.172,365 Prnvloui y•ar. At 1 Aprll 2022 Incomlng R•source$ rewur¢oS •xpend•d Tran8f•r• Qaln8 and At 31 March 2023 Capltal Fund Gener81 fund8 499,638 1,279,983 (7,958} {1,053,631) 491,878 1,182,681 885,946 70,263 1,779,619 885,948 (1,061,589) 70,283 1,874,239 22 Analys18 of not 8888ts b•tWo•n funds Unrestrlctsd funds 2024 R•strlct•d funds 2024 Totsl 2024 At 31 March 2024: Tanglble assets Current assetsl(Ilabllitie8) 858,976 513,389 658,976 639,059 125,670 1,172.365 125,670 1,298,035 Unrnstrlcted Restrfctad funds funds 2023 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl(liabilitios) 582.103 1.092,136 582,103 1297,302 20S,1e8 1,e74.239 205,166 1.879,405 CITIZENS ADVICE COUNTY DURHAM NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Optratlng l•asè commltmonts Le88ee At the reportlng end dat• the cherfty had outstandlng commllments for future mlnimum18a8e payments Lmder non-cancellable operatlng18agag, whlch f811 due as follows: 2024 2023 Wthln ona year Between two and five years 20,500 46,321 20,500 20,500 6e,821 24 Relat8d party transactlons There were no disclosable related paty transadon8 duriw the year (2023 - none>. 25 Ca8h g•nérat•d from 0￿ratIOn8 2024 2023 {Dollcttysurpu3 for the year (863,370) 48,390 Adju8tments for. Inv88tmant Income recognl8ed In 8t8tam8nt of financial actlvlll88 Depreclation arKI impalmient of tsngible fixed a68el8 <31,163) 5,127 (34.961) 7.958 Movements In worklng capltal: Decreasel(h¢rease) in debto (De¢r•a8e)1Sncrea8e In credltors (Decr8898) In deferred Income 32,428 (74,013) (2,069) {80,111) 47,489 (126.580) Cash absorb•d by owratlon8 (733,060> (137,815) 26 Anatysl• of chang88 In net lund• The charfty had no matwlal debt durfng the year. -27-