citizens advice TEST VALLEY CITIZENS ADVICE BUREAU (Citizens Advice Test Valley) Financial Statements For the year ended 31 March 2024 Registered Charity No. Company No. 1156829 08933947
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Financial Statements For the year ended 31 March 2024 CONTENTS Report of the Directors and Trustees 3-10 Directors, Responsibilities 11 Independent Examinerfs Report 12-13 Statement of Financial Activities 14 Balan Sheet 15 Notes to the Accounts 16-22
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the 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 applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard 102. 1. REFERENCE AND ADMINISTRATIVE DETAILS Charity Name: Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Charity Registration: 1156829 Company Registration: 08933947 Registered Office: 1 st Floor Chantry House Chantry Way Andover SP10 1LZ Chief Executive: Ange Moon Bank: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ leporting Accountant Mark Wall Unit 5, Basepoint Business Centre Caxton Cl East Portway Andover SP10 3FG
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued The following people were directorsltrustees of the charity on the date of approval of the report: Directorsrrrustees Role Date Elected Date Resigned Roger Clift Stephen Bowden Stella Coulthurst Andy Gunn Stephen Hart Elizabeth Leather Alexandra Gladwell Linda Thorpe Katie Gray (nee Dutton) Trustee Chair Trustee Vice Chair Treasurer Trustee Trustee Trustee Trustee 01106114 24104118 24104118 02112120 02112120 18101122 18101122 17101123 18104123 26101124 26101124
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued 2. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing Document Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) is a registered charity and a company limited by guarantee. Test Valley Citizens Advi Bureau is also known and referred to as Citizens Advice Test Valley. The maximum liability of each member is limited to £1. On 31 March 2024 the company had 7 members. Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) is governed by its Memorandum and Articles of Association. Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) was incorporated as a company lirnited by guarantee on 11th March 2014. The charity commenced operations on 1 St June 2014 at which date the assets and liabilities of the incorporated Andover and Romsey Citizens Advice were acquired. Recruitment, Appointment of Trustees Trustees, who are also Directors of the Company, are elected from the local community. A working group made up of Trustees and chaired by the Chair is established to oversee the elections process for Board appointments. A separate process agreed by the Trustee Board is followed for the election of the Chair. No other persons or bodies external to the charity were entitled to appoint persons to the Trustee Board. Induction of Trustees Newly appointed Trustees are provided with a comprehensive induction to Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) through the provision of training courses and mentoring by established trustees. We are currently carying out a recruitment drive having lost two trustees in early January. Organisational Structure Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of the -harity. The Trustees carry the ultimate responsibility for the conduct of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet as a minimum quarterly and delegate the day-to-day operation of the organisation to senior management. The Trustee Board is independent from management. A register of members. interests is maintained at the registered office and is available to the public.
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued ... Related Parties Test Valley Citizens Advice Bureau (Citizens Advi Test Valley) 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 detennined by the Trustee Board of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) in order to fulfil its charitable objects and comply with the national membership requirements. The charity also co-operates and liaises with several other advisory services, local charities, and social services departments on behalf of clients. Where one of the trustees holds the position of trusteeldirector of another charity they may be involved in discussions regarding that other charity Jut not in the ultimate decision-making process. Major risks Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) has worked on a Corporate Risk Management exercise. A risk management strategy and risk register were agreed by the Trustee Board. The Trustees recognise that any major risks to which the charity is exposed needs to be reviewed and systems put in place to mitigate those risks. To that end Test Valley Citizens Advi Bureau (Citizens Advice Test Valley) is continually monitoring and managing its risk, reviewing the corporate risk register, and ensuring action plans are in place to mitigate its key risks. Included in external risks is that of the loss of funding. The effects of this have been reduced by the procedures in place, which have resulted in funding being secured from a variety of sources. The charity continues to seek to diversify its funding sources. Internal risks are minimised by the implementation of prOdureS for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed by the Chief Officer and Trustee Board to ensure that they ",till meet the needs of the charity.
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued 3. OBJECTIVES AND ACTIVITIES Objects The charity's objects are to promote any charitable purpose for the benefit of the community in Test Valley, by the advancement of education, the protection and preservation of health and the relief of poverty, sickness, and distress. Objectives, Strategies and Activities for the Year Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) aims to provide free, confidential, impartial, independent advice and infonnation for the benefit of the local community, to exercise a responsible influence on the development of social policies and ser]CeS and to ensure individuals r do not suffer through a lack of knowledge or an inability to express their needs effectively. We have been working with the Romsey Foodbank offering advice and assistance at the Foodbank premises since 2021 . Funding for this was secured by a joint application to the Trussell Trust. The project has been extended for three years, ending in at the end of 2024 - new funding is being sourced for the continuation of this service. In January 2023 we secured funding from Test Valley Borough Council to do a similar project at the Andover Foodbank. This is funded until May 2024 but we have an application pending with the Trussell Trust. In March 2023 we began to host a debt project that is managed by Citizens Advice New Forest. The project is aimed at vulnerable clients in debt and offers help within the Test Valley and Winchester areas - funding for the project runs to end of 2025. Public Benefit Required The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken by the local Citizens Advice during the year. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements. The principal activity of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) remains the provision of free, confidential, independent, and impartial advice, information and counsel for members of the public. This is provided through one local Citizens Advice in the Test Valley with two offices located in Andover and Romsey. Advisory services were provided through face-to-face consultstions, telephone advice lines, email and various outreach services at community ntreS throughout the borough.
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued Contribution of Volunteers The charity receives help and support in the form of voluntary assistance in advising the public and administering the charity. 44 volunteers contributed over 20,000 hours of work to the local Citizens Advice during the year. We estimate the value of this help at £424,889 in respect of the current year (2022123- £453,657). 2. ACHIEVEMENTS AND PERFORMANCE Charitable Activities We have continued to have our demand increased which has challenged the service due to the ",ost of living crisis. We have continued to work with our clients by phone and email and have enhanced our face to face interaction with clients providing both drop in and appointments during our opening times. We have fully populated both our offices with our volunteers and the paid staff. The key achievements in the year were accessing two pots of money made available from Citizens Advice (head office), allowing us to work in partnership with 3 other offices to provide a dedicated paid telephone service. The work with the New Forest has proved incredibly successful. We continue to be a Hate Crime reporting Centre as well as promoting Restorative Justice. We were also fortunate to receive funding from the Clothworkers Charity to help enhance our IT systems within our offices We continue to offer support to the Andover Charities. Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) had a total of 18,281 client activities with 15,548 issues in 2023124 (2022123 16,755 client activities with 12,278 issues). The Local Citizens Advice assisted in the recovery of £453159 on behalf of clients (2022123 £414,336) Fundraising Activities . otal charitable activities income for the year was £447.860 compared to £307,814 in 202212023. We also received project funding for the Romsey Foodbank Casework post, the Andover Foodbank Caseworker role and some paid telephone advisers as well as a number of small grants have helped us through the last year. Investment Activities The charity does not currently hold material investments. Factors Affecting the Achievement of Objectives The charity is aware of the financial pressures experienced by its major funders, and in view of this has taken active measures to seek additional sources of funding for its services.
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued ... 3. FINANCIAL REVIEW Financial Position Total incoming resources in the year were £457,301 (2022123 £325,239) of this £133,364 (2022123 £38,733) related to project restricted activities. A surplus of £10,055 (2022123 of £5.192) was made in the year. Reserves Policy It is a recommendation from the Charities Commission that ReseNes should be sufficient to cover a period long enough for a Charity to decide on a way ahead should it lose its major funding. Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. The local Citizens Advice will maintain a projection of income for at least 3 years ahead and will ensure that this continues to be derived from as wide a variety of sources as possible. They will take all necessary steps aimed at ensuring that at no time within this period would it be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation that it could not be managed so as to continue to provide a best value advice serlice. In reviewing the potential costs that could arise should a significant reduction in income be incurred the Trustees have determined that 'free' reserves of 314 months normal operating expenditure should be maintained. Any other money held in the account is designated for ongoing IT costs and any increase in the cost of living. Our lease in Andover is for 5 years ending 2025, and in Romsey 2028 so there is also anticipation of a move to be considered. Principal Funding Sources The Directors extend their gratitude to Test Valley Borough Council who continue lo support the core operating capacity of the charity. Funding from Citizens Advice Hampshire, Clothworkers Charity and Big Lottery has added to the income streams, as well as funding from Citizens Advice and Hampshire County Council. The charity did not have any borrowings from either provider of funding or other sources at the balance sheet date. Funds in Deficit At 3110312024, the following funds were in deficit: 2024 2023 Andover Foodbank Core Donation Enham Trust Romsey Foodbank {4,291) {5,546) (£49) (£1.954) (£4,721) (13,746) These fvnds in deficit are supported by general funds.
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Report of the Directors and Trustees continued ... 4. FUTURE PLANS Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) aims to continually improve access to its service and intends to extend its service to an even wider number of the community through continued increased provision of telephone advice. Since 2020, we have opened new channels to work with clients: a national email service, local email and we have enhand our offer on the adviceline system. We have also continued to provide the service at the Romsey Foodbank and the Andover Foodbank to help clients in greatest need. With help from extra funding from Citizens Advice we have now increased the number of paid staff fj to 16 (8.65FTE) and continue support the community of Test Valley. Both our offices provide some face-to-face contact via our drop in service. 10
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) DIRECTORS, RESPONSIBILITES Company Law and Charity Law require the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) and of the surplus or deficit for that period. In preparing those financial statements, the directors are required to: (a) select appropriate accounting policies and then apply them consistently (b) make judgements and estimates that are reasonable and prudent, (c) state whether applicable accounting standards have been followed, and explain where they haven't been followed, and (d) prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The directors are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) and to enable them to ensure that the financial statements comply with the Companies Acts 1985 to 2006. The directors are responsible for ensuring that the company maintains an adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against material loss or unauthorised use and to prevent and detect fraud and other irregularities. This report has been prepared in accordance with the Statement of Recommended Practice - Accounting and reporting by Charities and in accordance with the provisions applicable to company's subject to the small companies, regime. Signed.... Chair of Trustees Mr Stephen Bowden Date
Independent examiner's report to the trustees of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024, which are set out on pages 14- 22. Responsibilities and basis of report As the charity's trustees of the Company (and also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Ihe 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination, I have followed the Directions given by the harity Commission under section 145(5) (b) of the 2011 Act. Independent examiner's statement The company's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of the Certified Public Accountsnts Association in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention which give me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the Charities SORP (FRS 102). 12
Independent examiner's report to the trustees of Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Continued. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached Signed Date 4/712LP Mark Wall Unit 5, Basepoint Business Centre axton Cl East Portway Andover SP10 3FG 13
Test Valley Citizens Advlce Bureau (Cltlzens Advice Test Valley) Statement of financial actlvltles for the year ended 31 March 2024 Incorporating the Income and Expenditure Account Unrestricted Restrictod funds funds Total funds Noto 2024 2023 Income from: Donations and legacies Charitable activities Other (inGluding fundraising) Total 1,243 315,496 7,198 323,937 1.000 132,364 2,243 447.860 7,198 457.301 11.788 307,814 5.637 325,239 133,364 Expendlture on: Charitable activities Total Exp¢ndlture 298,170 298,170 149,076 149,076 447,246 447.246 320,047 320,047 Net incomel(expendlture) before transfers 25,767 (15,712) 10,055 5,192 Transfers between funds 2.634 {2.634) Net movement in funds for the year 28,401 (18.346) 10.055 5.192 Reconciliation of funds: Balances brought forward 2023 145,206 23,245 168,451 163.259 Balances carrled forward 2024 173.607 4,899 178,506 168.451 There are no recognised gains or losses in the year, other than those included in the statement of financial activities. All activities derive from continuing operations. 14
Test Valley Cltlzens Advice Bureau {Citizens Advice Test Valley) Balance Sheet as at 31 March 2024 Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Not& Current Assets Debtors 6,464 6.464 5,535 Cash at bank and in hand 180,617 24,779 205,396 185,109 187,081 24.779 211,860 190,644 Creditors- amounts falling due within one year 13.474 19.880 33,354 22.193 Not Current Assets 173,607 4,899 178,506 168,451 Net assets 173,607 4,899 178,506 168.451 Represented by: Funds of tho Charlty Unrestricted General Funds 173,607 173.607 145.206 Restricted Funds 4,899 4.899 23.245 173,607 4,899 178,506 168,451 For the year ending 31st March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. I"he members have not required the company to obtain an audil of its accounts for the year in question in accordan with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to company's subject to the small companies, regime and in accordance with FRS102 SORP. The financial statements were approved by the Board on . and signed on their behaw by: Chair Mr Stephen Bowden Treasurer................... Mr Steve Hart Company Registration No- Charity Registration No: 08933947 1156829 15
Test Valley Cltlzens Advice Bureau (Citizens Advice Test Valley) Notes to the financlal statements for the year ended 31 March 2024 Accounting policies Accounting basis The financial ststements have been prepared under the historical cost convention and are in accordance with the Companies Acts 1985 to 2006. and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011. b) Incoming resources Grants receivable Grants made to finan the activities of the local Citizens Advice are credited to the income and expenditure account in the period to which they relate. Bank interest Bank interest is included in the income and expenditure account on receipt. Other income Sales of services are included in the income and expenditure account in the period to which they relate. Other income, including donations, gifts and covenants are included as they were received. iv) Gifts and Intangible income In addition to the above, the charity also receives help and support in the form of voluntary assistance in advising the public. This help and support is not included in the financial statements. However, its value to the Charity has been estimated and disclosed in the directors, report. Deferred income Grants received in advance of the period in which the funder requires the expenditure to be applied will be reflected in deferred income within the balance sheet. 16
Test Valley Citizens Advice Bureau (Cltlzens Advice Test Valley) Notes to the financial statements for the year ended 31 March 2024 Accounting policies (continued) Resources expended All expenditure is accounted for on an accrual's basis. All expenditure directly related to the provision of advice services is included within charitsble expenditure. Other costs incurred have been allocated between fundraising and publicty and management and administration as appropriate. Where such costs relate to more than one functional cost category they have been split on an estimate of time or floor space basis. as appropriate. d) Fixed assets and depreciation Equipment is written off in the year of purchase The depreciation policy has been reviewed and no change has been made from the previous year. Restricted funds Income reiVed for restricted purposes is included in a separate restricted fund against which appropriate expenditure is allocated. Designated funds Designated funds are allocated out of unrestricted fvnds by the trustees for specific purposes. The use of such fvnds is at the trustees, discretion. g) Pension The charity operates a defined contribution group personal pension plan for its employees. Payments are charged to the income and expenditure account in the period in which they are incurred. h) Leases Rental costs under operating leases are charged to the statement of financial activities in equal amounts over the period of the leases. 17
Test Valley Citizens Advice Bureau {Citizens Advice Test Valley) Notes to the financial statements for the year ended 31 March 2024 2 Donations and legacies Total 2024 Total 2023 Unrestricted Restricted Voluntary Income Donations 1,243 1,243 1,000 1,000 2.243 2.243 11,788 11.788 3 Income from Charltable Activities Total 2024 Total Unrestricted Restricted 2023 Premises and Parking provided by the local authority at no cosl Test Valley Borough Council SLA Citizens Advice Home & Wellbeing Citizens Advice FPP Admin Citizens Advice HSF Test Valley Bourough Council Volunteer Recruitment 39,340 243.312 140 39.340 243,312 140 39,340 229.851 90 2,083 13,833 2.083 13,833 16,000 16,000 Citizens Advice Gambling Awareness Grant CANF Citizens Advice Board Attendance Hampshire County Council - Cllr Cooper Grant Romsey Town Council Grant Andover Foodbank Core Donation Healthwatch Romsey Foodbank Whitchurch Outreach Enham Trust Help to Claim 500 788 150 500 500 2,500 6.961 108.875 1.150 11.928 3,450 6,961 108,875 1,150 11,928 3,450 2,550 23,252 3.000 5,581 315,496 132,364 447.860 307,814 18
Test Valley Cltlzens Advice Bureau (Citizens Advice Test Valley) Note5 to the financial statements for the year ended 31 March 2024 4 Other Income Total 2024 Unrestricted Restricted Activities for generatlng funds Fundraising events Gift Aid 2,353 351 2,353 351 2,704 2,704 Investment income Bank Interest received 2,970 2.970 Mlscellaneous income Miscellaneous income 1,524 1.524 Total Other Incomè 7,198 7,198 5 Analysis of expenditure on charitable activities General Advicè and Note Infomiatlon Ander Core Foodbank tlonatitin Romsey dtch Foodbank Whltchurch Ehnam Trust 2024 Charitable Activities Staff costs Other direct costs 190,173 6.828 23.804 241 15,788 1,088 237.922 Support costs {below) 107,997 4.375 90,617 120 5,165 1,050 209.324 Total Expenditure by Activity 298,170 11.203 114,421 361 20.953 2,138 447,246 G•neral Advice and Inlonnatlon Andover Core Foodbank Donatlon Health- Rom$ey dtch Foodbank Whitchurch Ehnam Trust Support Costs 2024 Staff & volunteer expenses Office. IT & communications 18,997 895 2,845 12 680 400 23.809 42,221 1.707 5,140 51 2,201 308 51.628 Premises 44,163 1.675 5,376 54 2,176 323 53.767 Govgmance 2,288 86 278 112 17 2.784 other 328 12 76,978 16 77,336 Actlvlty Total 107,997 4.375 90,617 120 5.165 1,050 209,324 19
Test Valley Cltlzens Advice Bureau (Citizens Advice Test Valley) Notes to the financial statements for the year ended 31 March 2024 6 Information regarding Trustees. Directors and Employees 2024 2023 Wages and salaries Social security costs Pension costs 218,913 13,731 5.278 182,545 5,699 4,104 237,922 192,348 The average number of employees. analysed by function was: 2024 16 2023 Charitable purposes Fundraising & publicity Management and administration of charity 10.0 10.0 No employee received remuneration of more than £60,000 No Trustee was remunerated for any senfices. All payments were by way of reimbursement for expenses. The local Citizens Advice paid £2.312 (2022123: £1,182) in the year ended 31 March 2024 for various insurance services including professional indemnity. 20
Test Valley Citizens Advlce Bureau (Citizens Advlce Test Valley) Notes to the financial statements for the year ended 31 March 2024 7 Debtors Total 2024 Total 2023 Prepayments Accrued Income 5,415 1,049 4,563 972 6.464 5,535 8 Creditors - amounts falling due within one year Total 2024 Total 2023 Other creditors including tax and social security Accruals Deferred Income 9,483 4,025 19.846 3,008 4.185 15,000 33,354 22,193 21
Test Valley Citizens Advice Bureau (Citizens Advice Test Valley) Notes to the financial statements for the year ended 31 March 2024 9 Movement in funds At1 April 2023 Expandltur Transfor At31 March 2024 Income Unrestrictad Funds Generalist Advice and Information 145,206 323.937 {298,170) 2,634 173,607 Total Unrestrlcted funds 145,206 323,937 298,170 2,634 173,607 Restricted Funds Andover Focébank Core Donation Healthwatch Romsey Foodbank Whitchurch Outreach BEIS Enham Trusi Help to Claim N Baddesley (49) 6,961 108,875 1.150 11,928 4.450 (11.203) {114,421) (361) (20.953) (2,138) (4,291) (5,546) 23,363 (13,746) 5,119 22,574 {4,721) 2,807 4,155 {1,954) (4.155) 1,954 433 {433) Total Restrlcted Funds 23,245 133.364 149.076 2,634 4,899 Total funds 168,451 457,301 447.246 178,506 10 Purposes of restricted funds Andover Foodbank - Caseworker with foodbank Core Donation - Paid Telephone advice Romsey Foodbank- Caseworker with foodbank Whitchurch - Outreach Service 11 Taxation The charity is exempt from tax on income and gains falling within sections 466 to 493 or the Corporation Tax Act 2010 (CTA 2010) to the extent that these are applied to its charitable objects. 12 Pension Costs A pension scheme for employees is operated on a defined contributions basis. The scheme is open to all employees at any time. The company contributes between 3 % and 6.5°/o of pensionable earnings and the employees between 3 and 50/.. The assets of the scheme are held separately from those of the company in an independently administrated fund. The fund administrators are NEST and the scheme is NEST. 22