Company number. 829)395 Charltynumber. 1171817 citizens advice Citizens Advice SORT Group Ltd Group report and financial statements for year ending 31 March 2023 *ACIX9P81* 2W1212023 COMPANIES HOUSE #17 Citizens Advice SORT Group Ltd References and administrative information for the year ended 31 March 2023 Trustees Brendawarrington. Chairperson appointed 5th Oaober 2D22 Peter Alen. Chair of Finance. Risk and Assurance Commrttee Margaret Anne Bradbury appointed 4th August 2022 Martyn Beauchamp, Chair of Transf0M￿lOn Committee Sarah Diller Emily hjlen, Chair of People Committee an Whitfield Damd Trafford Rthard Coaton Phil AsF*n Annete aowes Atif Hafeez resigned 8th t*cember2022 resigned 31s(Juty 2022 resigned 30rh lune 2022 restgned 9th September 2022 resigned 21st April 2022 Fr￿(Ine Ftyan Prlnclpal staff Jonathan Yats Chief ExecutNe Officer eve Hughes. ChiefOperain8Officer resigned 3(kh November 2023 Prlnclpal address Huckletree. The Express Buildin& 9 Great Ancoat5 Street. m￿thester, M4 SAD Company number Charitynumber 1171817 Bankers Santander PLC Bridle Road. Bootte. Merseyside. LX14GB Royal of5cotland PLC Drummond House, l Redheughs A￿)Ue. Edinburgh. EH12 9JN Lloyd5 PLC 58Yorkshire Street, Rochd*, Lancashire. OL6 18N Yorkshire Bank 47 Markd Fyace. Oldham. OL13AB The Charity Bank Limited 182 HEh Street. Tonbadge. KenL TN9 1 BE Auditors ade & Cooper Ltd Beeh￿ Mill. ￿rSeY Street,*ncoats, Man(hester, M4 ￿G Citizen5 Advice SORT Group Ltd Trustees. Annual Report for the year ended 31 March 2023 The trusrees, who are directors for the purposes of company I￿. present the annual report. together with the financial statements and audrtorg report of the charitablegroup ending 31 March 2023. About Citizens Advice SORT Group The charity's objects are to promote any tharitable purpose for the publK b￿efit by the advancement of education. the protection and preservation of health and the rdief of poverty. sickness and distress in particular, but without limitation, for the benefil of the communiry in Greater Manchester and surrounding areas. The main attmties undertaken to furthw our (haritable purposes for public benefit are to prowde the advice people need for the problems that they face and impro* the policies and prattices that affect peoplés INes. Our highty trained people delwer information, adw.ce and guidance seNce% a mixture of paid staff and volunteers. prowding seNces predominantly in Stockport, Oldham. RoChd￿￿ and Trafford. The (harity also delwers specialist legal services in Halron. Warrington and Wirral. The trustees conf1rm that they referred to the infomiation contained in the Charty Commission's general guidance on public benefit when planning ￿Mr1e53nd sating polioes prN)rities forthe year ahead. Who we helped in 2022123 In total, we supported 16.xil peoplewith simple infomation and ath"c¢ and 17.050 people on&tO-one. by phone. email, web chat or in person with adwce and CaSe*￿rk. We dealt wrth 74.LXX) issues overthis period with the bEge5t five issue areas bwng: Benefits- Universal Credit Benefits &Tax Credits Debt Utilities &communications Financial 5erwces &capabilty In 2022123 the number of people tuming to our sefyice for infonnation. adwceand guidance increased compared to theyear before and is higher. in part because of thecost of Lmng Crisi% following the Cowd-19pandemic Despite a variety of Govemment support schrn to help people financhalty. people h￿turned to us for5UPPOrt in these challwgingtimes. W¥ve seen the highest number of web visits ther. more people are using our dEf(al serwices than e￿r before. and we started Seeing people at faC&to-f￿ appointments again. We answered more phone calls than ever, although we habe seen demand continue to rise. Citizens Advice SORT Group Ltd Trustees, Annual Report for the year ended 31 March 2023 Our value to society Each year. we givè thousands of people the knovledge and confidence to find a way forward. We do this by pro￿lding admce. education. support. and influencing policies and prartices that affect our dients. We su￿èY hundred5 of people yeady to give us the evidence we need to measure our impart. For e￿ry £1 of charitable expendr(ure We de1Th￿r £31 ofbroader economic and socd benefit We savè the go￿rnment and public sermces £4 We delivered an estimated £23 so(￿1 and economicvaue to society Our S￿￿Y resultswere as follov*S', Ease of access "How easy or difficu￿ did you find it to access the sermce 80% confinned it was either neutraL easy or easy to access our seTri Wayforward o what extenc did the 5eNce help you to find a way forwardP 86% confirrr*d wgd wther moderately, greaty or completely hdped them find away fO￿ard Problem re501ved o what extent 15 your problem now re501%Ed." 75% conf1rr￿1 wed either partty. mostly or completety resol￿d their problem Recommend "How likely would you be to recommend the seTrice." 88% confirmed they would likely or￿ry likdy recommend our sernce 6 in 10 peop￿ said they felt less stressed. depressed or anxiou5 a5 a dI￿rt result of our athrice Financial outcomes for the people we help For many people who turn to us for help, look ar how we (an maximisetheir income by ensuring they recei all the benefits they are entitled to. We helped people access an extra £82m in one-off and ongoing addrtional income for local people We wrote off and ￿chedUled £1.7m of debt Citizens Advice SORT Group Ltd Trustees. Annual Report for the year ended 31 March 2023 Our strategy recentty refreshed the charities strategy. Ourmsion for 2025 istha wdl help more people than ever before. This plan looks to refocus our attmty on three main xrategic theme> Advlce- wdl have met moredemand auoss all our adwce channds Sustalnability- w¥ll ha4e grown dwsrfied our business becoming more effetti￿ and efficient in a sustainableway. Culture- wéll be a great placeto work where people perform at their best As part of our xrategy. adopted a nav dient commitment.. Ivs easy to get support fram us- Our seNces wll be awdiia)lewhen you need them in a way that works foryou Our 5eryice will be joined up - You11 be able to access advice quick￿ and easily through our drfferent seNces and thannds Wrthout hwng to repeat yourself. We'll help you find a way forn7ard. whatever your problem - We ha4e the re50urce5, too15 and expertise to So1￿ your problan. If we cart hdp directly. wgll signpost you or make a smooth referral to a trusted partner. You'll get the level of sUPPOrt need- What￿r your situation. wdl take extra steps to make sure you have the best support foryour need5. You know that we'll Speak up for you- Well ath)(ate for thange in policy and industry praCtI￿Swhere they make lrfe harderforyou. Our values Wgre drfferent. ambr(ious and determined to delw quality service5 to ourcommunities. To be able to do this, we a set of valueswhi(h drwe usforward that all our colleagues champion.. We're inventhR - We question wy idea to make ￿ better, and we change when things arent working. W￿re not afraid of trying neA things and leam bygettingthingswrong We're generous- We work together. sharing knowledge and experience to sofve problems. We tell it like it is and respect everyone We're re¥x•nsible- We do we well do and we keep our promises. We remember that wework for a tharity vseour resources effect Citizens Advice SORT Group Ltd Trustees, Annual Report for the year ended 31 March 2023 Equity, diversity and inclusion Equity. diversity and indu5w)n IEDII are at the centre of wthat W￿ do. and our charty aims are grounded in EDI principles. We value and embrace the diversity of ovr clients and ColleagL￿5 and work to eliminate discrimination. We belie we are all equal through our shared hvmanity. We'll strengchen our EDI W￿rk by: Taking a social justice approach to EDI Continuing to be an impartial charity Using our data to (reate stronger. indUS￿e ser¥ices Mainstreaming our EOI work Our fund ing and income generation strategy We take a Collaborati￿ and de￿lOpMental approach to fundraising deNeloping strategic rdationships With key partners and stakeholders. All management colleagues across the charity a￿ reskKJnsible for identifying and d￿0ping￿ndlng opportunities within theIr5p￿lf1C ￿eaS of worf(. Funding areas irKlude'. Grants and cOmm￿￿l0n1ng Indmdual giving Major donor Corporate Trust and Foundation Legacy All funding application bidlno bid decisions are algned with our mission. Msion and values the Citizens Adwce competr(ion protocol. Fundralstngstandards Inforniatl•Jn The ch3rr(y does not carry out signrficant fundraising attMt* Citizens Advice SORT Group Ltd Trustee5' Annual Report for the year ended 31 March 2023 Plans for the future In-line with our strategy, our ￿rtUre plans fall into three categorie& AAMce. Sustainability and Culture. We will continue to d￿￿0p our people offer, making the org￿lsatIon a great pl￿e to work and wlunteer but adopting a n&Y people str&e8y. Wgll work to di￿rsTfy our income streams with ne*V partnership and agreements and well continueto push forward creating a rnore equrtable and accessible serNice. Financial Review Flnanclal Posltlon Incoming resources in the year were Q6EAJ.574 (2021. Q8%.117J. Expendr(urewas a951.311 in 5UPPOrt of our charitable objettNesl2022'. Q783.5921. A 5urplu5 of £61426312022.. £1.013.575 surplus) reSU￿e￿ in theyearwhich indudes the in year gain on the defined benefit pension s(heme of£9)5.fXXJ. At 31st March 2023total fund ba1￿CeS￿ere £1,05&246 Reserves Pollcy The trustees b￿le￿ that the charity should hold financ￿1 reserbES in orderto ensure that the charity can continue to operate effectfftly and meet the needs of clients in the Èwit of unforeseen potentially damaging circumstances ari5in8. Trustees consider tha it is prudent to set aside Re5erve5 equating to 4 months opwating cost5which is reviewed annually. It may not be possble to reserve this amount fully ew year and a lower amount (an be set by the trustees until such time asthe appropriae l&tl of reser￿￿ have been reali5ed. As at 31 March 2023 our Unrestricted Funds fredy available (free reserbEg) were £gJ5,467 12022.. £1.077.9791 equating to 3.7 months of total operating expendrture. W¥re a￿eptIng this is lower than the policy at present. Citizens Advice SORT Group Ltd Trustees, Annual Report for the year ended 31 March 2023 Golngconcern The Trustees consider the charity to be a going concem. There [5 no immediate impaa on Going Concem from the Defined Benefit pension scheme. Any unfiJnded liablrt￿s that might arise would be undemitten by the local authoritie& who art as Guarantor. Funding is expected to continue at current *ls and continued efforts for cost redurtions further stren￿hen the casefor continued. sustainab￿5￿mces. Our structure, governance and management The charity is controlled by its goNÈrning document. a deed of trust. and constitute5 a limited company. limited by guarantee. as defined by the Companies Art 2(K6. The company was establshed under a Memoran(Jum of Associarion which esta￿15hed the objects and powe￿ of the tharitable company and is govemed under its Artides of Association. In e¥ent of the company being wountj up members are requyed to contribute an amount not exceeding £1. Trustee board Our trustee board sets the strategic Nision and gNes stratwc direction to the th&Ky. The board is committed to high governan￿ standards and complies with the principles and prattl￿ set out in the Chartty GOMernan￿ Code. Our Chief Execuri4e. Ch.￿f Operaring Officer and broader leadership group are responsible for del￿ring the str*e8y and day4¢>day operations. There are five formal trustee board rr*&ings each year. The board has one board development session each year and other rr￿tIr￿ and eNEnts to help trustees shape the organisation's Strategic dirertion and ￿lOp as a team. Therewere no rneMbe￿ oftheTnJstee Board in paid employment at CrtizenSAd￿te SORT Group. There were no ex-officio members who ser4ed as trustee dirertors duringthe year. Citizens Advice SORT Group Ltd Trustees. Annual Report for the year ended 31 March 2023 Committees Thefollowing committees gjpport thetrustee board in Ttswor*. Finance. risk and assurance committee The committee., mon￿Or5 and owsees the wrrent and futurefinancial sitUat￿n and assochated risks Has owsght of the internal and extemal audrt arrangements. including resourcin& of plans and reports Prowdes scrutiny. and assurance on the strategic signrficant operational and compliance risk5 Promdes assurance on required Standards, and statutory and regulatory requirements Provides oversight of govwnance arrangemenis in line wilh theAnicle5 of A550ciation PeterAJlen is the Chairperson of this commrttee and is supported by Mags Bradbury. Ajan Whitfidd, Sarah Diller. People commlttee The committee". Oversees the de￿Oprnent. ddNEry and moniiorbng ofthe ooani5ation's people strategy Oversees infomis and scrutinises the d•Aopment and irrp1￿1en(at1on of an ambrtious equity. diversity. indusion and bdonging strategy Leads on the recrvitment and selettion for appointmentsto the Board and committees Sets remew the annual performance and remuneration of the Chief ExecutNE and Chief Operating Officer Emily Allen is the Chairperson of this committee is supported by D•*id Trafford. Sarah th'ller and Mags Bradbury. Transformation and development committee The committee: Provides insight to and hdps deAop strategy proposalsfor the entire b0￿d Owsee5 agreed, large-scale transformation programmes that support the delw of agreed strategy and sioning objeal￿5 Acvs as a sounding board and prowdes direction on kw business d￿lopment artmty that impacts Champions and ensure continued focus on continuous impr0￿Ment. trarbsformation and innovation across all business areas. Citizens Advice SORT Group Ltd Trustees. Annual Report for the year ended 31 March 2023 Martyn Beauchamp is the Chairper59n of this commrttee and is supported by Emily Alen, Damli Trafford and Peter len. Recruitment, induction and training of trustees We recruit trustee dirertors and commr(tee members through an open and cornpetiti￿ pro￿$5 using social media, recruitment agencies. and our bwder network to find talented indmduals to promde strong leadership and experience. In 2022-23 we had 2 trustees terrns end and. inline with our articles of association, their terms were extended until 2025 w@11 be recruiting for nÉw trustees 0￿rthe coming year to alight any forthcomingvacancies. Trustees and committee members recefft a full indurtion. Indurtions indude meeting with the Chairperson and Chairpeople of committees. a meeting vmth all members of the leadership group and key management personnel. Inductions are tailored to meet indmdual needs and intere￿5 induding shadowing arKI Msiting different seNce5 provided. Trustees and commtttee members are w)lunteer5 but are reimbursed for reasonable expenses. The board annually r•ri&vs trustee board composrcion based on skills and experience - this forms part of the trustee board's annual appraisal. Following Charity Cornmi5si0n guidance and the Companies Act, we file an AP01 with Companies House wfchin 14 days of the appointment of a new trustee director. When details on that form change, form CH01 is completed and filled with Companies House. Where a trustee direaor rings. wefile a TM01 form- all in line with our statutory obligations. Memberships and quality standards W¥re a member of the Citizens Adm.￿ network. The MembershipAgreement sets out the relationship between member of the Citizens Admce ser￿￿ and a local Citizens Athce. including our re$pert￿ roles and responsibilities - some of which are shared. eg proteLtin& promoting and dtheloping the Citizen5 Admce brand. The Agreement sets out the hIgh-1￿15rd￿d8rd5 for membership {induding sern￿ and some precise requirements. including details of what happens if a local Citizens Advice br&iches the Weement. The Performance and Qualty Frarn￿rk is part of the MembershipAgreement and sets outthe standards all local Citizens Admce sermces must meet. The Performance Qualr(y Framework consLSts of4 parts.. Qualty ofath.ce assessment conduaed quarter aient experien￿ suThey, conduaed quarterty Leadership self4ssessment. condurtÈd annually People management surw, conducted annual Citizens Advice SORT Group Ltd Trustees. Annual Report for the year ended 31 March 2023 The Citizens Adm￿ audit team check co{￿lanCeWth the Performance Qualrty Framework. The Specialist Quality ma￿ (SQMI and the Adwce Qualty Standards IAQSI were renewed in Ottober 2022 and September 2020. respecti￿ for 3years. The Leadership Group. remuneration and development Our Leadership Group. which incorporates our key management personnel. are responsible for deliwing the trustee board's wsions and for the day-t(Fday OW&ion of the tharity. The Kw management staff who served during the reporting period are as foll Chief Executive Officer.Jonathan Yates ChieFOperating Officer. ste￿ Hughes Head of Bu5ine55 Odivery. 5tuwt Pearson Head of Busine55 Servc￿Jull￿ Sp￿cer The People Committee is responyble for. under ddegation from the trustee board, the appointment. remuneration and perfornian￿ manag￿lent ofthe Chief Execut￿ Offiw and Chiefoperating Officer. The board ewed the sal&ies of these kly personnd roles in 2021. with extemal benchmarking taking place. as per the Harris Hill salary report. Risks and internal controls Our trustees are responsible for effeaw managing risk and ensuring intemal controls are in place and operating as designed. The Finance, risk and assurance committee has delegated responsibility for risk and intemal controls. The commrttee interrogates quartedy risk reviews, a broader enmronmental and a quartedy summary is presented to the trustee board. Throughout the year, risk owners regulaty reviewed operational and strategic risks to assess the likdihood. impatt appetite for each risk. the plans for managingthem and the adequacy of those plans. Our core risks are categorised a5 financial, 8ovemance operational. extemal, compliance & regulation. Thetrustee board has an appointed risk lead who suppons the Head of Busine55 Se￿.ces. Thi5 role is responsible for managing our risk strategy and emironment. 10 Citizens Advice SORT Group Ltd Trustees, Annual Reportfor the year ended 31 March 2023 statement of responsibilities of the trustees The trustees (who are also directors of Citizens Advice SORT Grc4Jp Ltd for the purposes of company law) are responsible for preparing the trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accwnting Standard5 (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year whlch glve a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group ft)r that period. In preparing these financlal statements, the trustees are required to: Selett suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent state whether appllcable UK Accounting Standards and statements of recommended-wrattice have been followed. subjett to any material departures disclosed and explained in the flnanclal statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will contbnue in operation The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are als0 re5pon5ible for safeguarding the assets of the charitable company and hence for taklng reascnable steps for the preventlon and detectlon of fraud and other irregularities. In so far as the trustees are awa￿ . There is no relevant audit information of which the charitable company's auditors are unawa The tnJstee5 have taken all steps that they ought to have taken to make thernselves aware of any relevant audit information and to establish that the auditors are aware of that infomiation The trustees are responsible for the maintenance and integrity of the corporate and financlal information Sncluded on the charitable company's website. Legislation in the United Kingdorn goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Auditors Slade & Cooper Ltd were re-appointed as the charitable company's auditors during the year and have expressed their wllllngness to continue in that capacity. This report has been prepared in accordance with the provisions applicable to companies subject to the small comDanles' reoime of the ComDanies Art 2006. The trustees. annual report has been approve(I by the trvstees rjn behalf by and signed on their Name 8renda Warrin8ron Chair of Trustees Independent Auditorfs Report to the Member5 and Trustees of Citizens Advice SORT Group Ltd Opinion We have audited the financial statements of Citizens Advice SORT Group Ltd (the 'parent charitable company.) and its subsidiaries for the year ended 31 March 2023, which comprise the Consolidated Statement of Financial Activitie5 (including the income and expenditure account). the Balance Sheets of the group and the parent charitable company. the C￿S011dated Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. induding Financial Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnlon the finanoal statements: give a true and fair view of the state of the group's and charitable company's affairs as at 31 March 2023. and of the group's incoming resources and application of resources. including its income and expenditu￿. for the year then ended: have been properly prepared in actordance with United Kingdom Generally Accepted Accountlng Prattice. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Audltor's responsibilities for the audit of the financial 5tatement5 section of our report. We are independent of the group and charitable company in accordance viith 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. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the trustees. use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that. individually or collettively* may cast significant doubt on the group's or pa￿nt charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respert to going concern are described in the relevant sections of this report. Other inforniation The trustees are responsible for the 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. Our opinion on the finanaal 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 assurance concluson thereon. In connection with our audit of the financial statements, our responsibility Is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a 12 material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information. we a￿ requlred to report that fact. We have nothlng to report in this regard. Opinions on other n7atters prescribed by the Companies Art 2006 In our oplnlon, based on the work undertaken in the course of the audlt: the information given in the tru5tee5' report (incorporating the dirertors, report) for the financial year for which the financial statements are prepared is conslstent with the financial statements; and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and parent charttable company and tts environment obtained in the course of the audit, we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companles Att 2006 and the Charities Act 2011 requires us to report to you if. in our opinion: adequate accountlng records have not been kept by the parent charitable company, or retums dequate for our audit have not been re￿1Ve0 from branches not visited by us: or the parent charitable company's financial statements a￿ not in agreement with the accounting records and retums: or certain disclosures of director5, remuneration 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 p￿pare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemption5 in preparing the directors. report. Responsibilities of trustees As explained more fully in the tnJstees' responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to eriable the preparatlon of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements. the tllJStee5 are ￿sponsible for a55es5ing the group's and parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to golng concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations. or have no realistic alternative but to do so. Auditor's responsiblllties for the audit of the financlal statements Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fTrud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condvtted 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 13 the aggregate. they could reasonably be experted to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures In line with our responsibilities, Outlined above. to detect material misstatements in respert of irregularities. including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below- enquiry of management and those charged with governance around attual and potential litigatlon and claims. enqulry of the charity's staff, management and those charged with govemance to identify any instances of non-compliance with laws and ￿gUlatIonS. reviewing minutes of meetings of those charyed with governance. reviewing flnanclal Statement disdosures and testing to supporting documentation to assess compliance wlth applicable lavis and regulations. auditlng the risk of management override of controls. including through testing Journal entrie5 and other adjustments for appropriateness. and evaluating the business rationale of significant transactions outside the normal course of business. Because of the inherent limitations of an au(Jit, there is a risk that we will not detert all irregularities, Includlng 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 transartions refiected in the financial statements. as we will be less likely to become aware of instances of non-complbance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intenbonal concealment, forgery, collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at.. .frc. -assurance ta uidance-for- ors-res onsibili ies-for- This description forms part of our auditor's report. ion-of-auditors-res onsi ie5-for- Use of our report This report is made solely to the charitable company's members, as a body. in accordan￿ with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the chantable company's members and its trustees those matters we are required to state to them in an auditor'5 report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsbblllty 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. Christy Yun Hing Lau FCCA DChA CTA Senlor Statutory Auditor for and on behalf of Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG 21st Oecember 2023 Slade & Cooper Limited is eligible to act as an auditor in ternis of section 1212 of the Companles Att 2006 14 CITIZENS ADVICE SORT GROUP LTD COMSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 (INCLUDING INCOIAIE AND EXPENDITURE ACCOUNTI Unreytricted Re5tr•ct•d Funds Funds Tolal 2023 Total 2022 Not• Ineom• from: Dcftatb)ns & kga Fundsd)nthd frDrn Sbknpyt 4.1( 4.1 336,711 Charitsbb acbMbes Advi¢* •d 1.435.035 1,171.394 2,606,429 2,514,393 Otherincon 42.344 42.344 41.329 In%ethenl incomi 7.695 7.695 3,418 TOTAL IICOIAE 1.489.180 1.171.394 2,660,574 2,896,117 EXPENDITURE ON Charilabl• actmtteg Al¥￿t Inknna 1.765.881 1.185.430 2.951,311 2.783,592 TOTAL EXPEMDITURE 1,765.881 1.185,430 2,951.311 2,783,592 NET INCOhlEIIEXPENDIWREI. b•*)rn n•1 galnslOasses1 1276.701) 114.0361 {290,7371 112,525 Realsed 9a*WlkJssl c* in*sbnents Acbjaiial gainll105sI on dthed tenefil 12,050 9)5,000 889,000 MET INCOhlEII£XPENOITUREI 628,299 {14.0361 614.263 1.013.575 NET MOVEMENT IN FUNDS 628299 {14,0361 614.263 1.013,575 R•conci1kn1tlM of Funds FuThJslxoughl forward at 1 Awl ￿22 351211 92.772 443,983 1569,5921 Funth carrfed 31 Marth 2W13 979,510 78.736 1.058246 443.983 A comparative Statemènt of Fina￿81 Activrties is ftyJThJ in Ncie 3 The Statement of Finartial ActNities I￿ludeS JI gains and losses rwnised in the year. All ofthe Charitys xtiwties derive from ¢¢yth"nuing operab"ons. Actrvities of &"t1￿S Ad¥¢e Stc¢kwl and Citize Advicè Trafford have bèen transferred to the parent charity see rKrte 25. CITIZENS ADWCE SORT GROUP LTO BAL*J4CE SHEÈT A5 AT 31 MARCH 2023 ThÈGm 2023 Th•Charly 2023 2022 2022 FIXEO ASSETS T8ng** Assets Investmerrts 15 16 74.043 82.551 74.043 02.551 CUIIRENT ASSETS 19 189.219 403.593 014 5T0 1.418.163 327.230 150121 477.351 53,140 103 764 156,912 Cash at bwk li 1.106.239 CREDITORS: Amounts lalbng dug on• y•ar 1122.0361 25.7311 {22,8701 1457.3231 NET CURRENT ASSETS 1.192.432 454.481 1300.4111 TOTAL ASSETS LESS CURRENT UABILITIES I.OSB.246 1274.983 4S4.481 1300.4111 Net Assets EXCI￿11Th9 DelIt￿ P•W 1,051.246 1274.983 454.481 1300.4111 Defff￿ bentrfrt $¢kn￿e as* i{kat* 18311)001 TOTAL NET ASSETS 1.058.246 443.983 454.481 1300.4111 FUNDS Re5tit*ed incomefmd5 Unresirtied Inc￿ funds Generalf￿1 D￿19￿* fwxl Pensk￿ R•sw¥e 21 78.736 92.772 78.736 21 21 21 979A10 1.160.530 21.681 (831 AK￿) 375.745 I￿0.111> TOTAL FUIXIS 21 1.058.246 443.983 454.481 1300.4111 The Krtes ￿ pages 18. 35 frym part cdlhesexcow45. Thes¢ aciounts ¥e tyep3￿d in acc￿4]arte the 15 dthe CtynwMe5Act 2006 rewing to smal companie5 and constlute the annual ar￿u￿¢S reqw&J bytre 2W6 * arefwtirtuLg￿￿ ￿ mTrt*rs ofthe compaiw. name.. B￿nda Wanlr4J*)n ro*." Chairol Tw8tees nh D￿eMber2023 ompaThy R8gislTrtKJn N￿￿.. OB190395 (Erv4¥th1 & W•&) CITIZENS ADWCE SORT GROUP LTD CONSOLIDATED STATEMENT OF CASH FLCIVS YEAR ENDEO JI MARCH 2023 X123 202Z hYtmpl(Eywiditvrrl forthewfyj 614.26) 1,013575 Adjusted for.. DepreckltSanchavue 4X*,914 D￿￿Iends. intefe5t and rents Thtstments 17.6951 IGain511L055eson investments PenS1￿S￿erneh￿a￿tt tast 21( 310)J Pensi¢ns(hwDe5eTh*ecost 51C Pensi¢nsch*neiylnWc6S 5WJI D*reasè/I￿trWe)1Thde￿￿5 211374 I1￿.3?41 IDecreasellincrÈasein Cr¢drttys 1103M51 13L3321 Net ¢ash from operalln9 aCtivK C•5th Ilows fr¢•n inv9511ng activiti¢s O￿l￿¢￿d$. lrtere5r1￿ rents from uwesimert5 IIC6.2451 .371 1418 Dtsposal ofFiYedASSrtln¥tstrnerfs Stockpurt Fkned Assets ￿t bwkvJ￿eVl￿ me¢ IS62BI Net CJ5b fltrws fvom ifr4estiillattr1¢￿S l?&Q17 Ner irtreasellderrew5el (*hev*Alefits I￿SS0) CashiThY cash equhlknts at IAWII 1022 LOI4S Caxhand Cash È4ur¥a￿￿ts ètai Marth XJ23 917.020 L014,570 All oltheCashfknJsarèder￿e0lr￿￿ IhÈatwm)￿l￿S ￿lePt larCaShfiLwsfwc*trr6 Ad¥i¢e Si(Kkm andCitixn5Ath4ice TrJfforO.thetw05ut6M1iarie5 dtyedatthe per￿dend. 17 CITIZENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1. Atcounling P￿Ie1*S The ￿¥￿£¥Pai attourtin9 athjpknj. •*j￿￿rtS￿ll k*rf srwJr¢es ofestonBIkn in Ihe p￿parat￿￿ Oft￿ statw*rts *easfv*)*s". 8 sa￿% of preparntlo The Inanc4ai siatemerts h*e b88D wepwed in •kJ ReF¥xlkng harit*$' Statemenl of RecthmmerKied awicat*tOc*￿thts weparlig theiractr¥JrfS PI ra)rd￿ce wdh the Financ*1 Rewling SlandaTd appi*aw in the UK Wthe Repub* of Ir4**1 IFA$ 1021. secty* edth)- Oucto 2019 ICtsn1*5 SORP IFRS 10211. thE F#￿cIal RepJrtThJ s￿lef￿ appli¢aN8 *) the LIK am Ire￿Tr1 IFRS 1021 Crffipan*skt 7006 •kJ the VK General￿N￿￿d Pracw. Citizens Aty41￿ SORT Grwp Ltd rwts definlth ofa ba)eTI u￿1￿FRsTo2 As8818 ¥rtl liablit￿ arE Ir¥liaUy re(ognksed at h"st(￿r￿¢951 ortran5*Km WIESS L*h&wGe st*ed vi the acc￿￿11￿9 tdicy tth. Al Ihe ofihe ￿rI)d olthe *JtsbJk8rnsce48edkntr&Je. TheTrtye kn hwe irKknled Mi these ryl a IYeak-￿ basr&. b Group linan¢l•l 8t41oments The consol￿13te￿ fiTranc¥l st*wts irKrywale 5tat*r*rtsdthe crm>arry ent￿eS lind￿ling specol wrpose controleo grwp115 5ub5KI￿￿l. CCrf￿. ach*Y*J Ihe group has Ihe p)wer ty 904em lh¢￿Tr¢￿1 and (W"n9 of abentty >) asto Obtain benefts fr￿ rt8atap1￿8s. The ￿su11$ (rfsub&di¥riÈs acqu*ed ￿d￿poSed olom lthe kn tL*al tofftprefonsNe Iri￿ the etslr¥e date ofa¢4u*ix¥) aThl Up1)t￿ elear•eéate ofOsFwl. as appropriate usuw *ccountMg Cor&￿ent wikn tlthe parwl. I Inlrn*mup Ir&￿¥than* ba￿nceS. Income8￿ OX￿$e$ are consc*JatKffi. Irweslrnenls in ￿￿￿dIaneS are acuunl¥J tr IIE cn51125s irrwww*rt ￿ the f*wnc¥ stsl8meniS. Prep•v•tbn of thp •rcouniy on 9ulng concern ￿*1& The tru$lee5 cw5￿￿11￿t I￿re xe no Ma1￿1* wKertawth5 atrArt Ih2Grth￿s ab*y to as a going cO￿8m. Intho applK*M)n ofthe Charitys PLIthS. Ihe Tw5t*s are requi￿ 10 m*e pJthwmoNs. eslimates assurnptons the das5Ets ithiff*s th* are re*JhSf appareni fmm ￿her sow1￿5. The estunaltyy anL¢ 3s5rThled ￿Sumpt￿n5 ate based on hi*iwI exwrience 8nd ot￿r facbxs thai are ¢r￿S￿je￿dto be re*¥anL ￿£t￿ frL¥h these estimates. The E5tim*es and un¢Jethw)y assthyA•￿s 8r8 re¥w*d fyi an r*wr¥J bw. RV415K￿ Io e51¥nat*s are rwntsed in the estin*es are rKffjnL%d in INI inwhich the esthate is revised %¥here Ihe r￿y5￿ atl&ts P￿￿1. LY ￿ Ihe ￿￿)001 I rthfi8•)n and fulwe perirwjs wrt*re the Thk%p)n afkcts brAh (wr￿1 aThJ fvIU￿ The tru51vs do notcon5Klerlhat therE any sDUtes destimaiv)n U￿en8th 81 ts reythi dale th81 have 8 5igNfKanl risk dC¥￿rIa a ma* adiusbrbÈrttothÈ am￿￿1￿8$%￿S 113tslrf*S *iinin Ihe next repMwYJ 18 CITIZENS ADVICE SORT GAc￿lp LTD NOTES TO THE FINANCIAL STATEmEP￿s FOR THEYEAR ENDEO 31 MARCH 2023 d Income aN*hed tp the itemlsi ol Ir￿orne hayt been r￿1. rt bs pt*at* thaithe be a Ihe arnount can be TheaS￿Ed rEW. lftcorne frorn the poverrrnenl and rAhEfgr3nts.wWher'cawtsf 9￿150￿￿e¥ern* grdnts. 19cogn￿la when the charty has Ihe fwbJ5. any Perfuma￿er0￿Jrt￿ts *ta¢hedto the giants haye b*n prcknab* th•ttr* be a￿1 the ￿￿nICan be measured reliabty and is nrA deferred FDr ￿9aC￿$, entrferne￿I ts taken as the eart￿ oftr d* C￿ wtrKhelher". U* ch* ts ayaye lh* tttt Pfob4te been gfaTrtÈd. the estste has been fv*ed aNJ ha5 be￿ tythe exKulrylsl to Ihe chanty Ihal a 0151n￿￿on * receNed the ea*e. Rtteipi of a *gxy. in or In port. onty c(kTSidered pmbat4ewl*n amounl w t* meèsuted rew a￿1 I￿ Chanty has been nobfied oflhe eAectho¢s Inienlw)n 10 make a d&SlribLOth. Where1#9aw have t*en notified lo Ihe charity, orthe charity 1$ 8wart of oflhe pmbaie. ¥￿JthÈ ￿￿time recognfjj￿ h*e not m*. then1￿ *9xy ￿ a Ireaknj as a assets dixkwj mai8rial. como are moc o Oohathd $•T¥*•6 la¢llhl•% Drm8teJ pmre5S￿mI ser¥Ke5 aThJ donated fa¢4kliÈs a￿ wntsed as ir*tyme whenthÈthaThty has control ow the item, atyconditv)r6 as￿￿*&Y*1h the￿￿a￿l rtem ha¥e b2en I￿[ the of econumic tsenefilfrorn the use tythe chanty ofth¢ trn is wobabio aftd IhatecWD￿ b8￿Can measu￿￿ r￿la￿y. In atttrdaK¢wrth Chantss ￿Ap IFRS 1021. ger￿￿ vr*mieer 09n￿Ed.. reler tu tru5tees' ann￿4 mrme at#)Jl I￿r￿)￿*th. On rec&Fi. 0￿*80 prdtssx>nal soTriry5 arnj donated1￿￿￿ ￿ r6rc¥ntsed fyi the b8Si5 orthe vabe ofthe to ¢haitywttrh ts the am(xJntme cw wo￿0 h8ve beenwdling K¢ ptyto rl)ta*i Ser¥￿eS orfac0￿e$ of eqwva*nl onthe makei. a cMSp￿d￿￿j then in Ihe expe￿11￿8 trfrwit. f Int•re8t r•ul¥4bf• Inter851 on fiJnd$ L5 NJt*Jed wh* and the amrwJrtC4n be rrtasur•J IdKAbly Ghanty". th15 uk*)n no*r*aiKMI olthe cyp•￿ ty the 8&*. g Fuftd aceounllny UNests*ied fvnds Je 8vaikb* to SFend OTh athrffips thatfurtheranyufvw ofchar*. DesKJn8led fvnds are uNestrited funas charitywhth Ihetru5tees have atttr*r ¢JIscrth￿n ￿ set asth ￿ use for a speufic purfvxsse. RestriEle¢ funds are donab"Onsw￿h the donor has specffied be usedkn ¥eas ofihecharitrlstth orfor5pecth k¥f4e¢ts t*n9 tyU*tI**. 19 CITIZENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 l Exwndlui• •nd IrrKtyM*lp VAT Expenditure is fecogntsed once there ¢y r4)nStrA￿ lo make a paywl loa I p¥ty, rt Is prL*atr4*t￿ setU*n*N be required aThJ the amojrrt te me8surèJ rellably. Expendit￿8 isacccwrfed for￿ ￿ acuLkiLs ba515 aid has teen dassftd he•Jm95 890r¥Ja￿ 10 al cost rEkled to Ihe c*ewy. Where1￿ co#s cAn￿rt be ￿tr￿ed 10 headings Ih*y have Ix*n atrxaleil lts*lpA*s on a basisconststent*th the w ofte$￿rte$. 1￿Co¥0r8b* VAT as acost *3ani&the *¥wh￿h e>¥th￿re¥As inKred. l ￿lOcalI￿n ol go¥91￿￿¢• ¢￿ts Governance costs inc*Jde cost$ Lvthe POP**hin *d exam*￿*￿ ￿S￿￿(*y thè costs of trus￿& meetings and therA)5tof arty kgal athKeto try￿tee5 on G¢wemarre orrA]n5Wul#￿ m4ttv5. joptratlng lèaJÈa Operating ￿aseS we leasES th¢t£k•to IN• a55*. r￿￿￿5 c4rrtmEr51 rornpln with the kn550r. Rent* ¢JW￿ are t*515 I￿r￿l￿rn rflhe lease. k fan9lbl0 flxed •¥¥ets IndNidual r￿e￿ assets G05tir¥J £2000w 8¢ c05t estimated uselulecrffifym￿ts￿S 85 fc*>w5." Free￿￿] buikling Leasehc*J laTrl 2% 4% Str*gM Property impmvem8nts Fixlures, rit*wsaThl ewwm8 IO% str*JM I 10%-33% stra4M I l Flxed aJ5et knvejlrnents In¥esiw*rf$ in quoied ewiy ￿ryrnents are ff*asur•J at l•rvabJe. CWS in lar¥a& rec£¥Nsed In the sts*m**ofFNncAI At*v*S. m D•bto Trdde and ￿L￿nI￿e￿ at Il* Sqiu*￿t￿ aft* Ir*Je th'SC￿rt offered. Prepayment5 xe ¥alL*AJ at li* amow* wepahl •rry Ctsh att￿ bank amd ￿ h*Nt Cash at Ihe •)d cash ul Ihe ha￿1 cash aThJ IK]uAJ irNestffErts wth a Crgdltors and Prov￿￿on redrtoFs and kvo¥Lsw)ns ¥e reDyJnised the charty has a we5wI c*slIJatw￿ resuiry frtyn as pa51 event Ihal ￿11 prrA)abty rEsutt ￿ Ihetran51ertAfvndS *) a third *ld the b) seiiiè the oblgaic• w be rneasu￿ crf esbmaled reSabty. Cr&kn anL¢ pffjvBirffls are rwNsed at theii sett*meN afteraknbir*J fty aTrrfir*Je d￿5¢(￿$ due. CITIZENS ADVICE SORT GROUP LTD NOTES TO THE HNANCIAL STATEAIENTS FOR THE YEAR ENDED 31 IAARCH 2023 p Flh*nc￿l kn8trum•ttts The charbty onty has fThrKwl assets fmrK0110ti4l*S ofa k*KI thal ¢w* as fw*￿81 iDSlrumenlS Basic fmnc*l w￿rUments ar8 wwi*ed 81 Ir8rs*ty• ¥alue I￿1 measu￿￿ al their sell*ff￿I vauEwth Ihe eXL¥ti￿ of we rnP45yW al using lh2 ¢fffdp4e q Pen¥lor+ ¢o¥t •nd a¢lw po¥t-ve¢*emeTrt b•n•fft* Delkned bEn￿l pemlon p￿n The compary fecognise5 a ¢Jefined net bwefrt asset ￿l￿8t¥￿ li baL￿ sheei as Ihe n￿10181 of the present valueol its OW'0￿ 8rK1 thef*Yaiue crf F4an ass*s OLrt ofwhKh the O￿Vaa110nS a￿ to be Sett￿ A ¢Jefined benefrt Ik¥bikn* ts n￿sUre￿ ￿ a thscowtted ￿seNt value b8$ts using a rale delerThw￿ by refere￿e to market yidds at the ieportir*J dale oltioh quality co[pa￿te bDll(Is. equah1*5 and prryrty Defined t*￿fft ow4all¢￿ and the related ewnses are measur¢ts the ptojecled unrt credl m*hfyJ. Pl*) surpiL685 afe as a d•Swl tenefft a5sel On￿ to the ex1￿1 thai the surpkn eiV*TthwJh red￿cOntr*￿rt￿)￿ in Ihe luture orihwh ￿lunts frcm Ihe p￿Th. Changes In the nel defined ben¢rrt a5$8t or1okn.lty a￿TIj frryn ernK#tyee 5•yKe rec£43riwd oreyn¢ilure 85 a currerf sefyte cost where * Ser¥￿S ￿ the CLtyreni and as a past ser¥Ke cc6t where A retsies 10 setvres Costs T￿￿￿￿t0 F4an Instr￿1*￿￿, benefil ch8i¥Jes, curtailments and sertknierrts are rwr*d n irtomÈ•r Èynthrt in thÈ in Y4hth they 0￿r Net intsresi is d*erminÈd ty M￿l￿￿"r￿j Ihe nel be￿ Ir4b* Ihe rate, t4*h a5 ddèrmir*d atthe 5tsrt pfihe reprKtng Fwbj. of8ny changes m the net defin•J enefit Ikqbilty ¢*Jrfng the pefK#J as a **1 banth p•fftrfs. Nèt irtertst r8C(9Th58d in or expeTrJlwe OeHn¢d Cobthbutlon peh8iom pts Conlrknjith to delThed corrtthlKM p* are r8ccsrrised as an in wh¢h th8 r￿ated 1$ provided. Prepawj Conirthtsl￿S are wgnsed as an 8S$* 10t￿ extrrtthaithe w8payme￿ wii *•J th a re￿￿1￿￿ •)fLdwe ptymertsora cash rÈfrJThl. 2. Legal Status of th• Chaily The ch*ty ss a cornwty limrted ty rrysl•r•d in EThJW*J W*$ aTrJ ha5 r•5hare Captai. kn the Èventofthfy¢h4rty up. lhe10b.lty in ofthe guwardee i& lo £1 per memterofV* charty. The regtslered cffte 15 dxiosed th pap 1 21 CITIZENS ADVICE SORT GROUP LTD 3. COMPARATIVE CONSOLIOATED STATEIIENT ￿ FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MAACH 2022 IIIKLUOING INCOIIE EXPENDITURE ACCOUNTI Lknrestri¢ted ReStr￿ted Flthds Total 2022 In¢om•lrom'. 307. 29.151 336.711 Cthatd*k*#pA Adv￿8￿1 InlomAkn 1,418,632 1,095,561 2,514,393 Clhtrin 41.329 41.329 3.418 3.418 TOTAL NKOME 1.771.405 1.124.712 2.896,117 EXPENDffURE 011 Chirithblt acti¥d Ice￿ Infonna 1.767.869 1.015.723 2.78J.592 TOTAL EXPENDITIffiÉ 1.767.869 1,015.723 2.783.592 NEf NCOMWlEXPENDrri￿El. r 108.989 111525 R•al$¢dgarffkJsslonrye5trnw 12.OXI 12,OS> NET IK¢XIEIIEXPEMoifiiiEI 108.989 1.013.575 Trdrth P*t4w Fwd5 {lJ.Tr331 NET MOVEIIEllf 11 Fillos 924.679 1.013.575 Rtton¢liition olFuHd¥ Furth ￿mfO￿￿o* I W3)21 1573.4681 3.87fj 1569.5921 Fwd$¢•Twl8d 31 IAw¢h2Q2 351.211 92.772 443.983 22 elTIZEN$ADVICE SORT GROUP LTD NOTES TO ThE FIPIANCIAL STATEMENTS FOR TrE YEAR ENDED 31 IIARCH 3023 4. In¢om• Irom Donatitin$ ￿#l•9%1•￿ UDmstri¢tsd RqS￿ctqd Funds Toi•l Unre5trict•d R•strl¢t•d 2023 Fun F¥nd5 Total 2022 Oin*tit4)S Totsi 266 S. Incom• frrjrn Chai￿•￿10 Actsvikn Totsl Unre5tiicted Rostii¢thd 2023 F￿tt& Fund> To 2022 Funds Funots FuDd•r Aeoon Towth•r. &wortGr4nt To9eth•r. omèr 8rSnn*is*n ￿ Loc41 ¢th¥nsAdYuCo¥eD ¢thn$AdYiCe GreaterManches*rf cthns Adv￿ N*lwJMI. Costof c￿1**19 A6v*t N*tsnJt. Dva>tReco¥¢ry cthz•ns AdvK¢ Nel￿nd1- Enwgy Cibzens AdvK4 Notsnal. C￿lM Citii•ns Advpcg Nattonal. WS Citiz4ns Advrco ￿8￿￿¥1- Oth•r Cibzens Alw¢e NAtronAI-Yothshi(• Soti*ty Cibzens ￿vIce S*nY Cibzens ￿lIe￿I Cibzens T?rnes Cibieh$ Adwce Vthroharn En•ryy Sowng TM Fir*choK¢ H¢*n¢s èatrw4y RDchdaa and 8ury IA¥in V4l*YH￿j￿0 Ltyal AThY A9ency NlJcmilLin Cwcer &Jpport mulDp￿ S￿e￿￿$ Soc*ty 10.Tr)fy 10.QOO 1.000 15.$57 i.QLb) 213 21.276 15.9$7 19.m 15.1Tr)0 19.171 15.0fy) 370 )70 90 10.00$ 431.490 414.331 15.950 750 2.092 27.651 Z7.651 JM.658 338.6$4 316.$17 316.511 ss$ 17.250 10.005 431.4 414.J31 559 17.250 15.•50 750 2.092 J.4r 8.400 400 161. 161.9)B {10.$00) 156) 11.221) 127.1eoi 11Q.500) 00.749 60.749 177.836 375 118.639 177.US 31.191 51,155 1,943 113.444 2eo.ooo J5.858 Jo.000 11.938 400.171 26.746 15.QOO 4.$00 J75 11•.&Y9 343.>)0 1.983 IlJ.444 260.00 35.856 .0¢ OldhAm k4etMPOlthh 8￿0￿ C￿n￿. gv4rt Ol¢hprn AlebDpolitsn B￿gh C¢vn¢l. l)fft4th Po$thvg Sknps Purn InrtOYatonB ￿￿0111*￿ BOr0￿h Cvjn 19.029 19.029 18M38 4Cp).?71 26.748 Aorthd*e •tswopolitrTr Borowh c￿n<￿- Shaw &¢romp))n Pjrish Counc41 st0ckwrtF￿dbèthk StockportMetrt￿lrf#ti Bortrugh Caun41 Sto￿POrt￿￿e￿OFvIrtaft Borough Counol- Cob*J Borough CounLiI. H￿J$￿￿k• s￿G￿ 16.C 16.fm 1s.orp) 4.5 24.025 24.025 2WJ.( )￿.019 330.018. lJ.QOQ 42.000 16.OQD 42.OOD Th• H04aloy Trust Trdfford F¢Y)(fDank Trdfford No￿r￿j T￿$t. Srn*i Mekn Tnjii. Wann TrdI1￿￿ Trnfford m81￿￿￿an 8orwh PAetmpoliBn BDwh Couwl-Co¥id Tt*fiord BDrr￿h Couwl- Debt Trnffryd U•iT0￿lI0n Borwjh CouMI-W*brty Grnnl Tmflry4 Metropollan Borwjh Countl1-WntrrRe￿kn￿¢ 15.CO) 15.(th) 55.515 48.656 194.750 49ffi56 154.750 2tt.758 225.756 7,000 28,000 2.000 Z8.009 ioct) 51.943 Toi•l 1.4JS.C¢JS 1.171.391 2.6f6.429 .411.832 1.095.￿1 2,514,393 cmzENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR £￿E0 J1 IAARCH 1013 6. Othtrlrtom• Total 2022 FwKts FLW* F￿d5 Fund5 42.J44 42.3M 41.329 41,329 To 11.3Z5 7. In¥••tThbWrt In¢tyhe Total 2022 Furth FurYJS Ir￿me fmm bQrthde￿￿* 7.6JS 3.013 7695 FuTrJs FL￿¥ Athlc•& Inlonn*ton s•Thkqs: 1.Jfj4.907 w.e60 12617¢7 25.607 2&fj 259.952 fj47.Z1fj 24rn GrdrrtG Irth¢g1 t•Y Supm Cowi*J 307•4 117 1.765081 1.155.43D 1•51.311 T4x•I Costs +xat•J Suppthi Co*$(￿￿1*e $50.148 97.C 647.216 Prior yew Furrfjs 011È￿ Gi*th* pty*￿ Irth91 at&Y Supptyt 1.311.2&5 656.620 1.￿?￿$5 99.7•5 917$$ 241.861 M1437 17.451 5&11$ 4Jl.970 1.787. 1.015.729 1763.592 T¥x•I 22 (6ts Costs $25.496 137.311 16U37 g. ￿¥￿11 ￿ Gr•r*8 P•y•t4• 2023 25,607 Toi*l This i* atAiedaftwchwy"nW(cJthryX zo 0¢￿E(i￿aTr OFerwingLe•uu'. PraFety her AUOI Fee5 4Q974 J1032 1.403 10.780 CITIZENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEAIENTS FOR THE YEAR ENDED 31 IA*ACH 2023 11. Staft costs Tolal 2023 Total 2022 Wages & sa￿￿5 Sock11 Secwty Pen5bn Costs 2.031.175 174.011 1.851.703 156.1)48 86.026 36.868 2.322.￿5 2.1)93.7n OnE h•5 omtktyee benefts betr*e￿ E60.IW atsj EIO.OL¥J in **year(￿22". 21 Th2 average nUrnF￿ ofstsff •wbyed rA¥w¥J thepethlwas 93 {2022." 851 Ch*f Opr*ino off￿tr. The totl ￿F•￿ee t¢nefftsofip* kty martèoemtrrt pers(￿101￿* CP were £151.490 12022.. £144.2051 12. Trust•¢ R•mun•ratlon and •xp•wsts, and related party transxWon5 Nèrthertre Trustees nor any F¢Ix￿S COTh￿8d￿hth*x ￿e1%￿j any trre•knèJ expenses during Ihe year12022". Nir) No tntstee or ovv pew relthd to Ihecbarity had aty F*sthal *ry Iwsact*)n enter•J irrto ty the{￿. Ind￿Jin￿ durmw lh2 ￿￿.{2022 .. Niri There are no dDnabois from rdaled partes ¥Jtschare ¢xts*le oltAts#￿S r reslrKted tram r•¥led part*5. Ath*eTraf•)rd *d CitEens AdvKe SORT Grnup Ud 13. GoverThnent GT*ts Total 202J Tolal 2022 Oldham COU￿11 Rochdale CO￿￿$ Sltdw)rf Counc41 Trafford ￿rti1 343.200 295.856 441.919 I￿.0(￿) 168.701 I,￿6.478 8.750 T￿rew*re NJ ￿nIUh￿11￿ eoTrJitW allxhiNJtstrowts CITIZENS ADMCE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EPIDED 31 MARCH 2023 14. Corpof*lon tax The ¢W Is exemF4 from (typ¢r*¢￿ tax+Jn and gavbstsknJ ¥rfhin Char4¢r 3 <*P*i 11 falhe CwpNaiKJn Tax Act 2010 w SedKJn 256 cllhe TaNatK)n ofChargeat4e P Unrestrict•ws 22.COJ 79.000 18$9.OL¥JI {1.41S.f￿lD} {1,341.(K)01 1777.OCQI ChOng¢s intho pr¢sw* ¥¥￿t dthetsfinefj l*4wts￿ aro asfc*ws 207J 2022 benefft oblTraat Cts￿ent service cost Conlribulions ty schemE partir irtwesi cosl 8eneffts paid hanges in dèmogwhic asswnwbjr Other experence CharMJes in 4.888.1 s2.1￿) 5J13.CilO 79,000 12.000 Icfj.oDo 1113.0￿ ￿9.OC￿l 10.000 149J.W)I 131.0 (5.(wJOI 11.412.m)I 3.4a4.1 4.W.000 32 CITIZENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMEIWJ FOR THE YEAR ENDED 31 klARCH 2023 22. Emp1¢7ye• B•nefrt Obliwfjns leorti CPonoes in the f*rvalue rrflhe 8L**me assas areas knlk X123 2022 Far valueolscheme assets irt*esl 11K￿ne cL￿tribUth)ns ty Èmployer ContribulKin$ ty scherne partry•its Benths paid Other Eyrye￿e Reluin pkgn asse 4.057.OTrJ 3.705.t 73.0 42.LKYJ 12.(*J) 1113.Qto) 9.0 196.CWI 193.iD)I {21.WOI 338.L)YJ 3.994.0 4.057. The mofrYc*g￿eS of8cheme8saets as a sth*me 8s8ets are asknllm.. 2023 67% 15% 67% 15% Bonds Property Cash Prmp81 athuart8188sumptpMs at the t4*eshÉddate {Exwesw OSW4ht¢d ¥*i•qesi.' 2023 2022 rate Fthure salary increases Fut￿ pwsic•) increases 4.75% 2.70% 20D% rdlg5.' Yea Curyerf pensKmer5 at65- ma* Currert penSi￿ets at65- fema* Futu￿ peThsNThrs * 65. ma Futute p*tsKners at 65. kma18 18.3 24.2 21.7 25.0 201 232 21 0gltn•d Cortrfbuiion kh•m• The amtyJb% reccw*ad Mi or*W(f￿r¢ a5 an exp¢yO5e￿ to cWrtrii￿n t4ar* was £50,96412022.' £50.440) The pensb)n SCh*rts a¥aiiablÈ 10 StthY¢tynmw£¥¥J empty7￿1￿￿* Ihe ch*tyafter31StIAaKh 2005 are dÈfirtd contnbution schemes. adminÉlere¢ on t¢h8W￿lhe ctrarty ty A¥iv¥. P*)pies and knltth WKlrths. The Chanvs matGhir¢g cOntn￿￿0n rate 15 Capped * 3%. The erWyt25 r*¢ LS 3% 33 CITIZEPIS ADWCE SORT &gOUP LTD NOTES TO THE ￿NANCIAL STATEIIENTS FOR THE YEAR ENDED 31 AIAR¢H 2023 23. Analy515 01 net assets 118tV•8n lund5 Curr•nt wportlng pgrlod assets FixvJ a5881 invesmer nel cwrert assei81lk8bl￿eS) Crethlors more than one >*ar 74.OlJ 74.IM3 71.7)S I.iW,Z46 T￿ Pmioy5 r•porflng pqrfod T￿91￿8 ftled assets Fmed 85sei Inveslmerfs nacurrerrt assetsllliatrAthsl 82.551 i.on,•pg 21MI 1.192,132 1831. 18Jl.(1 {8Ji.o)JJ 21.ODI 92.772 445SO3 X2J Less than C￿ One 10 fj¥8 years over fweyears 71.rns 351 351 The ch8rtr's trAal mknimum ￿&Se *as85 is crfthe fc41owino per*)ds.' Lessthan one Oneto five yews erfh* yea 71.085 CITIZENS ADVICE SORT GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 25. Posi balan¢• sh••i•v•nts CitVL0￿ Na¥ic• Trafford Ic£ryany number 05027375. ¢h¥ity ThJrnÈer 11020031 Crt￿erts Advice Slr£kport IccrfTpany number 044933n. chwity nwrthr 10971071 bolh remov￿ frorn th• COTh￿ Re9iSter of Chaftbes on 14111ft023. bolh cory*any di$sdved via voluntary Strik￿[ on 07n 1r2023 A res01￿￿3n was passed by the l)oard oftruste•s ￿ 25ffj312U23. undertaken by the cits.zens Ad￿ce SORT Group Liwiied Partnt Comp3nn. thereby a¥oidiry Ihe need to cr05xharge and to ¢onsdi¢ale group a¢cx)urrts. and that rn￿h oltt* undèrtaken by the Company was alreaL1y being undertaken by Ihe Parenl Cornpany. It resdved that . al tan￿a￿e assests of the COTh￿y be transfwrnd tothe Partrt C¢%￿nY c(Ynpany from 1 April 2023 ..al affl￿nts standing to the crtdrt ol the conyrby in bank acC￿￿tS be translerre(I tothe pa￿rtt Conwany - ZH liabilit*s ofthe Ccthpany t* transler￿￿ toll* partntcompany - Ihe cornpany operations cease at mKlnghl 31 math 2023 Cilizerts Advic￿ SORT have Mertttshl￿ witlw'n Greater Manche5tsr Penson I'GMPPI lirtked to Citizens Advice Rochdale and Cibzens Advice Oldh￿. Both t￿ organrsabor6 had Iwstoiic links lo RLxhd*e Borough Council and Oldham Counol resr*th"vety. ThmughoL* 2023 Crfizens Adv￿ SORT has t*en in cOrThTh￿ti0n with both Cou￿15 arbj GMPF to upjale Ihe guaranteelsubsurTylion agreerrEnts pffjvided by the C￿J￿1$ in resp￿1 of Cthns Adwce SORTS part￿1pa￿.On in GMPF. Frorn 1 Decernter 2023 Rochdale Borough Counul ¢tyWeied the sub$umF4ion a9reement which accepts all past liats'litie5 lor defeN￿ peftyoner rnemt%r5 into th￿1 a(trrA's￿on in GMPF a5 of that date. The sub$urWion will also apWy to the last * a date ono they exr( or rgtsre. At thai point Citllen5 Ad*ce SORfs liats"Sty in respect of &tizen5 Advice RLKtsJa￿.s parbcipation In GMPF will cease. A siThilar a￿eer￿n1 h8s been w¢hed with cIdh￿ Counul lTh¥ever, as at Ihe date of Ihese wiunts thi$ has not b¢¢n Signed. An updated financia position rellectiThJ Ihese ¢har9e$wil ￿ av•laYe in the FRS102 Fension di$d05ures a5 at 31 March 2024. Given these a9reementS IIE Board d Citw15 Adbice SORT ha¥e decbjed Thot to recognise any surp￿$ W7KJunts thnbfied as part of Ihe 2023 FRs1￿1 disclosures. 35