MAIDSTONE CITIZENS ADVICE BUREAU (A company limited by guarantee) REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity No. 299055 Ccrnpany No. 02234220 CONTENTS Page Charity Reference and Adffjinislralive Details Trustees Annual Repotl Independent Auditors Report lo the Trustees Slatemernt of Financial Activities Ba13nce Sheet 14 Slalernenl ul Cashflow Note5 to the Accounts MAIOSTONE CITIZENS ADVICE BUREAU REFERENCE AND ADMINISTRATIVE DETAILS The Maidslone Cilizens Advice Buredu 15 a cornpany 5imiled by guaranlec and 2 regislered charily governed by its Mcmorandum and Article5 01 AssOCi8lion Icharily number 299055, Company nuynber 022342201 Cili2ens Advice Maidslone Is the operating name of Maidslone Ci112tns Advice Bureau. The Boaid uf Trustees The Trustees ol Ibe charitable cornp3ny 8re ils direclors fur IhE purposes of cornpany law and Ihroughoul this report are collectively referred lo as the 'Trusioes'. The member5 of the Board ol Trustees who s￿￿ed during the year were 3s follows.. ElÈtted Trustee5 Mr S Bonny Malholra Ichairl Mr P J Slonely Ivice-chairl Mr O Parnsh IHon Treasurer) Mr R Bird Mr A Breen Mr J Cobbett Ms L FrenGh MrlROwen J S Woods Mr D Thapa Magar lappoiDled 17 Jdnuary 20241 Mrs W Foster Iresi9ned 18 March 20241 Co-opted Members Cllr P Harper Ms L Mason staff Representatives Nlr P Hardy Mrs Jonos Mrs T Weber Senior Leadership Team Mr P Hardy- CEO Mrs S Smith Advice Miinager Mr I Park Service Manager Project Mrs T Weber- Operations Mlaridger Registered Office and Principal Atldre55 2 Bowor Terrace, Tonbridge Road. Maidsione, Kent. ME16 8RY Statutory Audltors Azeis Audil Services. Globe House. Eclipse Park, Sittingbourne Road, Maidslone. Kent, ME14 3EN MAIDSTONE CITIZENS ADVICE BUREAU TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Truste88 present Ihpir rpport and the audited Iinancial slalemenl8 for the year ended 31 March 2024 The Twslep.s confirm that Ihe annual reF>Ort and finanpial slalemenls of Cilizer15 AdviLe Maidstone cr)rnply wilh current 51alulory requirements, the requircmcn15 uf CiliLEris Advice Maidslone's qoverning document dFid IhÈ provisions ul tlie Slalemenl ol Rccommended Practice Acc.oiJnling and Rcporting by Chariiics ISORP FRS 1021. ObjÈttives and activities Citizens Advice IMaie51one provides Independent frce, confidential, Itnpartial advice lo everyone regardless of their race, gender. SeXLJalily or disability. Ciliiens Advice Maidslofie aims lo ensure Ihal Indivieua15 do not suffer through a lack of knowledge ol their rights and reskTronsibililies or of the service5 available lo them, or through an Inability lo exprp.55 their needs effeclively. The Cilizcns Advire Maidsione also aims lo exercise a responsible InnuentÈ uii the oewelopmenl of social poli¢ip.s and services both locally and llalion3lly through tho work of the Résearch and Campaifjn Icam. Public beneflt Thp Trusiees confirm thil they have ¢tsrnplièd Wllh the duty in section 4 of the Ch3rilies Acl 2006 to havg due regard to Ihp guidance conlained 111 th& Charity Commisqinn's general guidance OD Ihe public benefii when reviewing the lotal office airlls and objectives and In the planriing of lulurÈ aclivili85. Achievements and performance Our g031 is lo empower clients solving Iheir problems by Ihemselve¥.- olher8 requifing more support do reivivtr further help Ihrniigh detailed work conducied by our specialis15 and generalist volunlccr advisers. Cilizens Advice M3idslonc provides free, Independent. confideiilial and Inipartial dLvice lo everyone on their righls and resyuiisibililies. Thp organisalion vèlue5 diversity.. promotes 8quily & inclusion and challcnges discnrninalion. This essenlial work Is professionally carried out by our team of paid and voluntary staff helping peDple lo solve Iheir problems and ch3nging their lives. In order lu provcnt finr Ihe bpnEfil DI Ihe local community. Th￿ value we gel from working with volunleers Is greater than just our ability ID provide a quality a(Jvice service. In addition. our Inveslrrenl In developing volunteers. and enabling Ihem tD volunteer In their local area. has tangible benefits for the individual. communily, society al large This Is an Hdditional bÈnefil ID the community, created through Ihe Way we deliver our service. Al the erid Lif the 2023124 fin8ncial year, we have eslab115hed a new Wdy of working after being faced with perhaps our tr>iggesi challenge yel ICovid-191, how lo continue toi deliver our Fnu¢h-needed seNice, a lifeline for so many. In the wake We adopted Ihc "be51 of what we had le2rnod and Ihtr best ol what did to work In very different ways 3nd provide the vast rnaiority nf our services rernolely, VIA Ipleph()ne well as digital means, and reserving F3ce 2 Face for the vulnerable, and cornplex c3ses. Furtun21ely. our staff and volunleers adapted lo the new regitne exlretnely well afjd Il Is a credit to their dedication and CQTllrnllrnenl that In this rTIDsI demanding of limes we have helped many more cliLnis with much lower level of rp5oufce. Data We give advice to people who need help. but we also collett slalislical data on all th8se issues. Fof exami)le. we can how attendant issues affecting perjple who come lo us with problems arDund council tsx. As a result. we are better able lo ascertain Ihe rnusl efficient way5 lo help poople undersiand their problems more Loryiplelely. For councils an councillors. th15 data Is powerful. 11 Cdn help address failure demand. facililale the consideration nf Flew service options and provide adeitional insight lo thp scrutiny process. Gounci15 are Increasingly working together lo deliver seNices In ncw w3ys and save ¢osiS, wh?Iher In shared seNice arr3ngemenls or In combined authorities with devolution deals. Th15 can 3150 uTrlock fundin5 and address long-standing problpm5 across the LO￿nty. We want lo be ablp la wr)rk with Olir local government InforFn dobale with our dald and client slorics More than this, we can provide Innov31ive servic25 Ihat mesh closely with those Trffered by public aulhorilies Cili2eris AdviLe Is working nationally lo make this as easy a5 P0551ble, with new data produc15 for potnbining oulpul and Irnpact ddld dEfLTrSS variable geography as well as direcl support lo area5 of Innovation across nur nelwark. Social Exclusion People r.an suffer social exclusion whtn they face a series of probleyrs such as poor skills. low incnrnos. Dad housing and family breakdown. As a resull nf Ipieir experiences and developrp.er.i ai Ci112ens Advice Maidslone, our volunteers 3re bellp.r equipped and More confidefjl in their èbililieb. and hence are rn0￿ likely lo move Inlo employment. Thi5 has a true value 10 50ciely, by ITioving people r105p.r In Ihp labour market. which ￿aY rcducc IhLir need 10 claim benefits fclaled lo unemployrnLnl. 11 rnay also reduce ullier LO8ls to the slate dssocidled willi sustained unemploymenl ie menlal heallh, especidlly for youi)g people not In employment, education or training. Equally, comrnunily volunlcpring enables unemployed Individuals lo make a lorrn ol eLonomic contribution lo society. the value of which rnHy be lacloreu Into lulure national GDP and Citizens Advice has 2 major impact uii peupl*> s Iiv&s, particularly Ihp most vulnerable In sociEly. Our service Is be5.. known for solving problems Ihrough advice, but we 8150 tnake a dirference by solving Ihe undL'r1y￿ng causes ol Iliese prnblerns through uur research and camp31gns vnluvleers. Our work has a150 cDnirihuicd to vital Policy changes Ihal will help more peoplp mdko ETIGS meet MAID5TONE CITIZENS ADVICE BUREAU TRUSTEES ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfoimance Icontinuedl Ppn5ion Wis8 Cilizenq Advice M31dslDne 15 one of the LCAS who have been delivering the govemmenl's Pension Wise service for Ihe la515even year5. Launched in April 2015. Pension Wise was a new guidance service sel up lo help p&tsple understand Ihcir uplions under Ihp pension frcedoms. Citizens Advice Maidstanp dp.Iivers Pension Wisp appointments Naliunally During 2023124 we haiie delivered Pension Wise appuirilTnents by telephone arid far.e to Face. lu people aged 50 and over wilh a defin&d conliibulion pension. Key statistlC5 IPWI During 2023124. demand has rerridiried very high. Sinre the service started, people havè continued to value Ihe high- quality guidance and SUPPDrt they rcctive Satlsfaclion scores have relnained ovcr 95./. Money Advice National researrh shows Ihal just over a quarter ol adults say Ihal they do not rnn51der Ihem5elves ID be gDDd al anaging money and one third say Ihal they would prefer not 10 think aboul planning Iheir finances al all Many pcople have poor financial skills and this often leads them lo make Ill.Inlomied decisions on their rnoney mallers. CilizeDS Advice has found Ilidl the negalivE effecls of a lack ol financ181 dwdreness especially In Ilie c051 of living crisis, can be compounded by limited or poor-qualily consumer informAlion and Inadoquate advice Peoplc can miss out on the growing rangp of financial products availablo ane fail lo make Ihp best usp nf Government Iiiilidlives However, building Ihe necessary confideiiLe In financial Services Is an uphill task. CIliLens Advice Maidslone hL'lps p?ople re5Dlve their money. leg31 and other problems by pruvidiiis Inforrnalion and advice as well as by Influencing policymakers. Our serviGe is Itte large51 provider ol free monL'y advice In Ihe Borniigh of Maidslone We prvvide SPEGia1151 level mUTiey ddvice services, helpinq people resolve a range of money dnd debt Issues 8y providing advice and inluriTldlivn aboul Thoney In Iho hpart Dr our comwunily. we help people resolvc a range of debt and personal Iinance-relaled problems The CiliLens Advice service is a network of independenl, Ioc81 charilie5 th31 helps people resolve IhÈir money. legal and other problems The scrvice is the large51 provider of free advice In the UK. Citizens Advice also uses evidenie ul clients, rnDney problems lo campaigii for ihaiige and Is cunlribuling lo the Governrrieril's plan lo provide all UK ddu115 wilh access lo generic fifjanc131 advice Citizens Advice wanls peoplo lo have the skills, knowlcdgc and confidence io makc informed doc15ions across a range of personal Tll()ney rnallers. We work wilh a range ol partiier ageniies lo improve the Financial fikills training can change behaviuur participants beporne beller al budgeliny. Llio¢Jsirig Iinancial producis, saving aTid making their money oo further and these ch3ngo5 pcrsist over time. Developing financial skills ntrl only boosls financial well-bein9 bui also confidence and general peace ol tnind. Tenants who dn gel Into financial diflicully know where lo Ivrn lo for ￿le1p, seek uul suppori sooner and 3S 3 resull, are beller equipped lo cape Prison Work Citizens Advice Maidslone'5 strategy aims lo incrèase Ihe capac.lty of our p31¢ and voluntary staff lo de81 wilh our clicnls, debt and nlher money problpms In order lo preveTrl the financial problpmF 18ced by many people bELoThing major crisÈÈ. Th15 SUPPLiris our wider foGus of encouraging our learn lo work with wore vulner3ble groups such as offendeis 10 mool their Iiiiancp. hp.nefil debt needs In rcl8lion Ir) offendp.rs, Ciliiens Advice Is clpar that personal ¢ebl aiid olher fiiiaTIC131 prnblem5 C3n be a Laube ol an individual offending ITr the first place, and such problems cali iTILrease the likelihood of reoffending on release. Being ahle lo manage debt and other financial oroblems duriiig a prison sentence or upon relp.ase into the comrTiunily iould help lu reduce re-offeiiding Many oHÈnders with f3milies may 1811 into rent or nortgage arrears caused by a reduction of Income during Iheir prison sentence. Stable acLuinrno4ation can help reduce rE-offcnding by providing a sccure environmgnl In which lo live. endDling Ihpm lo open a bank account r2ccive hpnefilE and find regular emplnyrnenl Timely access ID AdviLe can. arnoiig other Ihinqs, secure acconiTrioddlivn fDr an offender ur their family on release, ensure access lo btnefils for Ihe paymeril uf ronl and advocate on behalf the family Il Inoy a￿ rÉlu.EeO support from the local authority Such seNices czn greaiiy reduce Ihp. risk of re-offending Debt can a150 present prohleFns for olfeiiders arid Ili¥ir fdfTiiliÈs bola during Iheir 88nlente dnd aller release. MAIDSTONE CITIZENS ADVICE BUREAU TRVSTEES ANNUAL REPOR T ICONTINUEDI FOR THÉ YEAR ENDED 31 MARCH 2024 Achievements and perforrnance Icontinugdl Risk Managernent Trustees regularly meet lo consider the financial and other risks relaliTrg tts tho aelivilies of Ihe charity and 13ke appropriate action as and when required A comprehensive risk register Is maintained and rcviowed al every Trustee meeting. Planniny for the future The bu51ne55 StraI￿￿Y adopted by the Truslep 8nard is lo safegU3rd the CDre service with free generalist advice covering a full rdnge uf issues This service has hitherto been lunded by 3 Grani from Maidsloiie Borough Counril. We are rnosl graielul lor the Council's continuing support. Cilizens Advicc MaidslonÈ seeks addition81 funding from other 5ourGes In Drder tu shore LJP Ihe cure service and providp nlher services If il 15 findnBially prudent lo do so Ci117en5 Advir MaidstonÈ's managemcnl has been successful In securing such funding Irom a variety of source5, Including national CiliÉen% Advice MAPS Ipe.n.%ion Wisel Henry Srnith Cnlyer-Fergusson and grants Irom local chanlies. The managomeni continues lo develop new and Innovalive partfierships with a wide 51ak&liulder group In respon%e lo steadily dwindling financial resources. FinonGial rÈ¥lew The nel surplu5 for th￿ year amounted lo £11.OOQ 12fl23 £26,9811- There was a surplus of £21.969 In rclalion lo urireslricled aclivilies befo￿ transfers. As al 31 March 2n24 geiieral unreslrictpd ￿serveS arnounl to t278.38012023 £257.2081. de51gna18d rescryes amount 19 £34.48212023 £34.4821 and lulal reslricled reserwes amounted lo £48,269 12023-. £58.4411. R8serv£s Policy The Board of Trugiecs regularly reviews the firidiices and reserve5 Of Cilizens Advice Maidsluiie. Each revicw encompas52s 1112 nature Df the inGUINC arid expenditure streams and the need lo rnalch Vdriable income with fixed r.omrniltnenls and the nature of reserve5. Citizens Advice Maid51one se15 3sidc reslncted funds as Sel out In IhE funds IinEpÈnl in a particular Iinancial year arc allocated rP£P.￿p￿ in slalulory accoun15 al Ihe end of the finaiicial year and will bo allocated lo that reglricted activity Iproiecll during Ihc courso of the following financial yesrorwhen the activity end5. Re51rictÈd funds al 31 March 2024 were £48,26912023 £58.4411. Trustee5 have disru55ed levEls uf unreslricled reserve5 and are agreed Ihal In all Eir¢um8lances Citizens Advice Id51one's core 5eFvices musl be secure. A minimum surN of SIK month5 unreslri¢led (corel expenditure with a onlingenry of 10 1u will ensure Ihal this aspiration Is prc5erved a5 an 3lluc3lion for corE management activities lo cover certain Fnembers of our projccl slaTf whD %iipport all aspects of the 8ureaiJ's aclivilies. Therefarp. Ihe lolal ￿Se￿eS the trustees still aim lo hold is £270,00012023 £270,000). As al 31 March 2024 unrestricted gcneral reseryes are £278.3801?D23 £257,?081 and de51gnat&d ￿serveS are £34,482 12023 £J4,4821. MAIDSTONE CITIZENS ADVICE BUREAU TRUSTEES ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Going concern The Tiuslees are 8aiiglied Ilidl IIiL' ch3rily has sufficient resources lo meet ils Iiabililie8 as they fall due lor a period nf ai lea51 twelve monibs frorn Ihc dalc of $1gning ol these financial slate.menls. Accordingly. Ihc TruSlBes confirrn that they consider th31 the going Concern basis rprnains appropriate. Stiucture. goverllance and management Ci117ens Advice Maidslone 1s a mpmber of Ci:1Zen￿ A(Ivir.e, which prDvides a Iramework fr)r sland3rds of advice mAna9emenl as well d5 rnoniloring progres5 Against these slandards. The Board of Trusiees produces aiTr dnnual r&port delailiiig Ci112ens AdviLe Maidslone's aclivilies during the year. The repurt Is available on reque51 from the cffice. Method of appointment or election of Trustees |FTr accordance with the Articlps of Associ31ioii Ir&vised 23 Seplember 2013 ID brinq our Mernorandurn and Articles of Assocird lu appraise fiiidficidl reoorls and retommcnd action lo the Trustee 8oar(t. Trustees, responsibilities in relation to the financial 5taternents Thè Trustèes as director5 are rest>onsible for preparing the Trustees REporl and the financial slalemenls In 3ccordance with applicable law and rogulaliori. Company law requires the Trusteeg to PlLparE financial slalpmp.nls for each financial year Under that law IhL, Truslees have eltrcled ID prepare the fin3ncial slalemenls In 8r.cordance with United KingG'UITI Generally Accepted Accountin4 PraLlice (Lniled King(Inm Accounting Standards and applicable lawl- Undpr Lompany law Ihc Trustees musl not 3pprove the financial slalempnls iJnles5 Ihcy 3re s3115fied that they give a true and fair view the 51dle ol affairs Df the chariiy dnd of Iho resul*6 of the chanly for that pefioij. In preparing Ihcse finan¢ial slalemen15, the Trustee5 are required lo select 5ui12ble accounting policies and then apply Ihern consislpnlly, ke jud0￿MentS and e51imales Ilidt drE reasonable 3nd prudenl, ofL.pdr￿ Ihp. fiTranGial 51alement5 on the goiriy Lonierri bds15 unless Il is In3pprotsriHlc lo prcgumc that the r.harily will continue in businLss The Tru51ees are responsible fnr kpcpin9 adequale accounting re.cords th81 are suffitienl lo show and oxplain the charily 5 Iransac.Iinns and disclose with redsoriable accuracy al any Iirnp Ihe financial posilion of the charily diid eriablg Ihpm lo ensure Ihal Ihe financial sldlernenls comply wilh CoTripanies Act 2006 and the Chariiies Aci 2011 They are also resoon8ible lor salegijarding Ihe a5se15 of the charity hence for taking reasonable slpps lor the MAIDSTONE CITIZENS ADVICE BUREAU TRUSTEES ANNUAL REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of information to a￿dItOrS In accordance with company law. as Ihé chanty s trustee, we confirm Ihal.. so far as we are aware. IherÈ is no relevant dudil Information of which Ihp charity's audilors arÈ unaware., as the Iruslees ol the charity, we have taken 311 the slep5 th31 we ought lo have 12ken in order lo make ourselves aware of any relevanl audit Information and lo establish that the charity's auditors are aware of thai Information. ON BEHALF OF THE BOARD OF TRUSTEES MR P J STONELY Reglstered office 2 Bower Terrac Tonbridge Road Maidstone Kent ME16 8RY 30 September 2024 MAIDSTONE CITIZENS ADVICE BUREAU INDEPENDENT AUDITORS, REPORT TO THE MEMBERS FOR THE YEAR ENDEO 31 MARCH 2024 Opinion We have audited the financial Slalernenls of Maidstone Citizens Advir.e 8ureau Ilhe 'charilak)le corrp8ny'l for Ilie yedr eneed 31 March 2024 which compribe Ilic SldtLmLnt ul Financial AGIIvilies, the B313nce Sheel, the C3sh Flow S131emenl ane Ihe related notes. The Iin2ncial reporting Irarnework thai has been applied In their preparation Is applicable18w and Unilecl Kingdom Accouniing Sldndard5. Including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" (Uniled Kingdom Generally Accept￿￿ Accounting Piacliccl give a Irue and fair vi?.w nl Ihe slate of the charilablc company's 8ftairs as al 31 March 2024 and of Its InrJ)Tning resuurLLS and application of rpsnurr.es, inc.luding ils income arid experidilure, fur Ilip ye3r then ended.. have been propLrly prepared In accordance with Uniled Kingdom Generally Accepied Accounliny Practice., and have bcen prepared In atBordanco with the requirements of the Companie5 Act 2006. Basis for opinion We conducted Dur audit In accordance Wilh Iniernational Standards on Audilinq IUKI IISAS IUKII and applicable law. Our responsibililies under Ihose st2ndards are further described In the Audilor's responsibilitie5 lor the audit of the Iinanci31 statements section of our report We are IndÈpendenl Df the charitable company In accordance with the elhir.al requirernenls Ihdl are relevanl lo ()ur dudil of the financial siaiements In the UK, Including Ihe FRC'S Elhical Slandard. aiiL' we have luifilled our nlher elhic31 responsibililles in accordance with these requirements. We believe thal Ihc audil evidence wc hdve 06iaiDed Is sufficipnl and appropriate lo prowde a bésis lor our opitiiun. Conclusions relating to going concern In aLJdiling the finanLial slatemcnls. we have toncluded Ilial the Tru51ee5' use of the going concern basis of accounlinq In the preparation ol the financi81 stalemenis Is appropriai Based on Ihe work we Iiave performetl, we have iiot idcfilificd any material uncertainties relaling to events or conditions Ihal, indivi¢ually or collectively. may cast significant doubl on the ch3nlable company's ability lo continue as a going concern for a period of al ledst twelve mDnlhs frorn when the lindncldl sldlgtnenls 3re aulhorised for Issue. Our responsibilities and the responsibilities of Ihe Truslees with respect lo going concern are described In Ihe relevant sections of this rpport. Other information The olhpr Inlorrnalion comprises Ihe Inlormalion ir)cluded In the Truslcts Anriudl Report. olher Ihan the financial stalemen15 and our auditor s report thereon. Ihc I rustees are responsible for the other Information containcd wilhin the annual report Our opinion on the financial slalemenls does not cover the other Information and, except lo the exlenl olhernvise explicitly 51aled in our report we do not express any form of assurance ¢on¢lu51un Ihvrgan Our respon51bilily Is lo read Ihp alher Informaiion and. In doing so. consider whether Ihe other InfDrmalion Is rp.aleriHlly incon£iElenl wilh Ihp financ131 slalpmp.nls or our knowledge obldiri¥d In the course ol Ihe audit or ulherwise appedrs lo be rn3:erially missldled. If we IdeDlIfy such material inconsislenci88 or appar￿rit rTialeiial rn1551alemen15, aro roquircd lo delerffline whclher this gives rise la a material missialemenl In Ihc finanF.ial slalernenls Ihern5elves If, based on the work we have. perfOr￿ed, we conclude Ihtil ther& is a m81erial misslaiemenl uf Ihis olher ITiformdlion, WE ère required lo report that We have nothing lo report In this regard Opinions on other Matters prescribed by the Companie5 Act 2006 In our opinion, based on the work undertaken In Ihe course uf IhE audil. the IDformalir)ll given In the Trustees, Repori and Ihe Incorporated Slralegic Report prepared for the purpose of company law for Ihe finanLial yedr for which Ihe Iinancial slalements are prepared is con51slcnl with Ihc financial Slalements, and Ihe Trustees, Report and the incorporaled Slraiegic Repvrt have been prepared in accordance with applic3ble leg31 requirements. MAIDSTONE CITIZENS ADVICE 8UREAU INDEPENDENT AUDITORS, REPORT TO THE MEMBERS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Malters on which we are required to report by exceplion In the light of Ihe knowledge and undersldndirig of Ihe charitable company and Ils eiivirunmenl obtained In the cnurse of the audit. we have nol Identified mtlerial miss131emenis In the Trustees. RÈpDrt and the Incorporated Strategic Report. We have nothing lo report in respect of Ihe lollowinq ffl3iiÈrg where the Companies Acl 2006 r&quires us lo report lo you adeqLJale 3ccounlifig records have nal been kept. Dr return5 adequale lor audit have not bpen rpceived fro branchos not visited by us-. or the financial slalemenls arp. not In dgreemeni with the accounting records and return5, or certain disclosures oTrl Trustees remuneration specified by law dre not made. or wc have not received 211 the Information and cxplanations we require for our audit. Respon5ibilitie5 ol Tru$t¢es As 2xplained more fully In the Slalemenl of Trustees, responsibilities sel out on page 15, the Trusioos Iwho are also the directors ol the charilable corripdny Ivr Ilie purposes of company lawl are responsihlp fnr the preparation of Ihe financial slalemenls and lar being sa115fied Ihal Ihvy give a tru8 arid lair view, and for such Inlernal control as the Trustees delermine Is nece55Ary lo cnable Ihe preparation of financial gIBlemenls that are free from rnalprial missialemenl, whethL'r due to Iraud or error In preparing the linancial slalements. the Tru51ees are respon51ble for assessing Ihe charilable company s ability to continue as a going concern. diselosing, as applicable. mallers related lo goinq concern 3nd using Ihe going conLern bas15 of accnijnling ijnless the Trdstees either Intend lo liquidate the charitable cornpany or lo Ced5￿ operations. or have AudStor'5 rE5POll51bilities for the audit of the financial staternents Our objeclives are lu oblairi reasonable assurance aboul whplher the Iiri8nLial s13lemenls as a wholo arc free Irtsm tnalpridl mi$8latEmenl, whether due lo fraud or error, and to Issue an auditors repnrt Ihal Include5 Dur opinion. Reasofiablo assurance 15 a high level of assurance, bul Is not a guarantee that an audit cnndupled In accordance Wllh ISAS IUKI will dlways d&iecl a malorial misslalement when il exisls. Misslalemenls can arise from fraud or error and arc conside￿d m21erial If, Individually or in the aggreqale. they could reasonably be experled ta Influence the economic docislOn5 01 us￿r5 tak￿￿ vri Ilie basis ol these financ131 statempnls. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularilie5, Including fiaud. drE Insldnces of non-compliance with 13Ws ana rcgulalirjns. We design procodurcs In Iinc with our responsibilities. outlined above and on Ihe Financial Reporting Gouncil'5 website. lo detect material tnisslalemEnis In rospeci ol irregularities. Including fraud. We oblain and update our unde1518iiding of the entity, ils activities, ils c()nlrol envifonmenl, and likely fulure (levelDpmenls, Including 111 re121ion lo the Icgal and regulatory framework applicable and now the entity Is corTiplying with Ihal framework Based nn Ihi8 understanding, we Idenlily and assess Ihe risks of maierial m155131emenl of Ihp financial si8lemerils, whether due lo fraud or erior. de51gn and perforTTI dudit procedures responsive l() Ihiise risks, and obtain audit evidence Ihal 15 5ulficienl and ApprupridlL to provide a bas15 lor our opinion. This Includes Bon5ideralion ol the n5k ol acls by the enlily Ihal wErt Gonirary to applicable laws and regulalii)Fis. inLluding fraud. In response lo the risk DI IrregiJ12riliÈs and non-complianeo with laws anL r8gulalions, Including frauij. we dpsignod proCed￿reS whic.h Included Eiiquiry uf Illdlldgemenl and Those charged Wllh snvprnance around actua1 and poientldl Iiiigaiion and claims as well as aciual. Suspecied and alleged Iraud, Reviewin9 minutes of mpeling4 nf those charged. with 9overnance-. Assessing thè extent ol compliance with the laws and regulations consideied lo have a direcl rn31grial effecl on thp. financial slalemÈnis or Ihc operations ol the company through enquiry and Inspection, eviewing financial 51alernenl (J15Llusures arid Igstirig lo supporlir,g documenlalian In asses5 coTnpliance. wilh app11c3ble laws aTrd regulation5. Performins audit work ovpr Ihp risk of ￿￿￿39CMent bias ane override ol controls, Inclu(Jing lesling of iaumHI enlries and olher AdiuslmeTI15 fDr approprialeDe55. evalualing the busiriess rationale of signilic.anl transactions ou151de Ihe norrnal course of business and rovicwing aCLuuriliiig eslimales for indicaloTS of polenlial bias. MAIDSTONE CITIZENS ADVICE BUREAU INDEPENDENT AUDITORS, REPOR T TO TIIE MEMBERS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 lea¢ing lo a material misslalemenl In the financial slatempnls Dr non-CQfnpliance with rpgulalion This risk Increases the rnore that compliance with a law or regulatlon 15 rernoved IroFn Ihe evEn15 and IraTr53clion6 reflected In Ibe fin3ncial slalemen15, as we will be less likely lo become aware of InstdnGeS nur,-cumplianLe The risk of not delecling a rnalcrial tnisElalemenl resijlting from Iraijd is higher than lor one re5ulling frorn error, a.E fraud may Involvp collusion, forgery, As part ol an audit In accordance with ISAS IUKI, we exercise profession81 judgment 2nd maintaill profes￿10￿81 sccpIIci8m Ihroughoul Iho audit. Wp a150. Idei)lify 81id assLSS Ilic risks of rnaleTial m15slslemenl of the financial slalemenls, whether due lo fraud Of error. design and perfonn audit procedures responsive .0 those risk5, and obtain audit evidence that Is sufficient and appropriate lo provide a basis for our opinion The risk of nol Oelecling a tnalenal m15s1alemenl resulting from fraud Is higher than lar one resulling from errvr. a5 fraud Tnay Involve collusion, forgery. Intentional 0rn1ssion5, fflisreprcsenlalions. or Ihe override ol Inltsrnal tonirol. Obtain an undersldnL'ing ul InlerTral control relevant lo the Aijdil In order lo desiqn aijdit prncediires th31 are dppropriale In the Lircurnslances bul not lor the purpose ol expressing an opinion on the effectiveness ol the charilablc cornpany s Iniernal tonirol. Evaluate the appropridleiiess ol accounting policies used arid Ilie reasonablen2ss of ac(￿U￿ting estimAles and relaled disclosures made by 11)e TrusieL'S Conclude on the appropfialeness of Ihc Trusitres. use 9f the going concem b351s of accounting and, based on the c]udil evidence obiained, wheiher a rndlerial uncertainly exists related lo even15 or condiliDllS Ihal may cast 519nific3nl doubi on the chantable company s abilily 10 coniinue as A going CDncern. If we r.onclude that a rnalerial slalefflenls or. if such disclosures drc IriddLuualL. lo modily our opinion. Our £onclu510ns are based on the audit evidence obtained up lo the date of our auditor'9 repurt Huwcvcr. fuiurc evciils or Eondiliuns may cause Ihe charitable comi)dliy 10 ce85e 10 conlinue as a going conccrn EvdluAle the overall presentation. slruclure and eonlenl of the financial slatemenls. Including th& distlusurÈs, dnd hclher the financial sialemenls represent the underfying IransaLlions and even15 In a rnanner that achieve5 fair presentation li.e. gives a Irue and fair viewl. We curnmunicalo with Ih05p chargpd with governance regarding among other mallers. th¥ planned scopè an(J timing our audil. Use of our report Thig report Is mdde SDlely lo tho charilablc cornp3ny'5 members. as 3 booy In accoreance with Chapter 3 of Part 16 01 the Compani￿5 Act 2006 Our audit work ha% bp.pTr ijndertaken so Ihat we mighl 51ale lo the charitable company's embers those mailers we arp. requircd to slaic lo Ihcffl In an aueilor's report and for no other purpose. To the fullest exteni permilled by IBW, Ive do nol accept nr assume re5ponsibilily lo anyone olher than the charitable company the ch8rildblc Lornpany s rnernhers A budy. for our 3udit work. lor this report. or for the opinions we have lormcd. Sarah Jennings FCA ISenioT Statutory Auditor) for and on behalf of knets Audit Setvices 3 October 2024 statutory Auditor Globe House, Eclipse P3rk Sillingbourne Rtiad Maidsianp Kent ME14 3EN MAIDSTONE CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES IINCLVDING INCOME ANO EXPENDITURE ACCOUNTI FOR Ttr+E YEAR ENDED 31 MARCH 2024 Unrestricted funds Restricted funds Total 2024 Total 2023 Notes INCOME.. DoTratiovs and legacies 464 183.100 3,490 464 829,058 3,490 505 804,150 968 645,958 Invcstmtnts TOTAL INCOME 187,054 645,958 833,012 805.623 EXPENDITURE.. 166,846 656.927 823.773 780,515 TOTAL EXPENDITURE 166,846 656,927 823,773 780.515 Npl incomellexpenditurel before gains on pension scheme 20,208 110,9691 9.239 25.108 Gains on pension scheme 18 1.761 1,761 1.879 Net incomellexpeThditurel before transfers 21.969 110,9691 11,000 26.987 Tr8nsleis between funds 17971 797 NET MOVEMENT ON FVNDS 21,172 110,1721 11,000 26,987 Total lund5 311 April 2023 291,690 58.441 350,131 323, 144 Total fund5 at 31 March 2024 312,862 48,269 361,131 350,131 All income and expenditure derive frDrn continuing 3clivilies. Tho Slalcmenl of Financial Activities includes all gains and Ioss8s recognised during the year. The notes on pages 16 10 24 form part of IhEse financial slaleTnenls. MAIDSTONE CITIZENS ADVICE BUREAU STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME ANO EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Comparative year information Year ended 31 March 2023 Unrostricted funds Re5trlctEd funds Total 2023 Total 2022 Noles INCOME- Donaiions and legacies SD5 150.660 968 505 804.150 968 gss 804,629 47 653,490 Inveslmenls TOTAL INCOME 152.133 653,490 805,623 805,631 EXPENDITURE.. 124.660 655,855 780,515 758,097 TOTAL EXPENDITURE 124,660 655,855 780,515 758,097 Net surpluslldeficitl before gains on pension schem? 27,473 12,3651 25,108 47.534 Gain5 on pension scheme 1,879 1,879 21,422 Net 5urpluslldeficitl before transfers 29,352 12,3651 26,987 68,956 Transfers between fun¢s 15.8921 5.892 NET MOVEMENT ON FUNDS 23,460 3,527 26,9e7 68,956 Total funds al 1 April 2022 Total funds at 31 March 2023 268,230 291,690 323,144 254, 188 58,441 350,131 323,144 MAIDSTONE CITIZENS ADVICE BUREAU BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 TANGIBLE FIXED ASSETS CURRENT ASSETS Accrugd Intome and prep2ym8nls Cash al b2nk and in hand Current asset inveslmenl 32,905 302,305 45.000 14,338 368,901 380.210 383,239 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 17.536 29,804 NET CURRENT ASSETS 362,674 353,435 Provision for liabilities and chargES 1B 11,5431 361,131 13,3041 350,131 NET ASSETS Cenoral unrestricted fund5 Designated funds Restricted fund5 12 13 14 278.380 34,482 48.269 257,208 34.48? 58.441 15 361,131 350 131 Approvèd by th& Board of Trustees on 30 September 2024 and are 51gned on 115 behalf by MR P J 5TONELY VICE CHAIR OF THE BOARO OF TRUSTEES MR D PARRISH MEMBER OF THE BOARD OF fRUSTEE5 Cornpany No. 02234220 hc notes on pages 16 tD 24 lorrn parl DI Ihese Iinancial statem￿nIs. 14 MAIDSTONE CITIZENS ADVICE BUREAU STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2024 Nots5 2024 2023 Cash flow5 from operallng actlvities Net cash Inllowlloufflowl from operatlllg 17 125,0861 34,741 125,0861 24,741 Investlng actlvllles Intere51 received 3.490 968 Net cash ganerated frorn Inv•sting 3,490 968 Net Ideerea5ellincre8se in c8sh and cash equivalÈnts 121,5961 35,709 Cash and cash equivalents at b89inning of year Cash and Gash equivalents at end of year 368,901 333,192 347,305 368,901 The notes on page$ 16 10 25 form p£rt of these financial statement$. MAIDSTONE CITIZENS ADVICE BUREAU NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies al Basis of accounting The Maidslone Citizens Advice 8ureau Ilhe 'charily'l is 3 charilahlp Cornpany limited by ouaranlèe, registered vlilh Ihe Charity Commission in England & Wales. The addres5 of the registered atfice Ig given In Ihe charily Inf￿r￿all0rn on page 1 01 these financial 518lemcnls. The nature of the charily'È opcraiions and principal aclivilie5 are delailEd in 2 of Iliese financial slaternenls The r.harily conslilules a public benefit Enlily ds defincd by FRS 102. The financial 51alem¥nls have been prepared ill accordanpe with Ihp Arrounling and Reporting by Cli&nlie8' Slalemeni of Recammended Practice applicable lo charities preparing Iheir accounls In aceordancc wilh the Financial Reporting Slaneard applicable In the UK IFRS1U21 Issued In October 2019. Ihc Financial Reporting Standdrtj dppIiLable in Ihe United Kingdom IFRS1021. the Charities Act 2011 and UK Generally Accepted Practic& The financial sl2lemenls are prepdred In sterling which is Ihe functional currency of the charity and rounded lo Ihe nearest £1. The significant accounling policies applied in the preparation of Ihe5e financial slalemenls are SEI Dul beluw. These polic188 hav8 been cons151ently 8pplied lo all years presented unles5 olheFwise 51aled. The charity ha5 availed IlsL'lf ol Pdfdgrdyh 4111 of Schedule 1 of the Small Compdnie5 and Groups IAEcounls and Directors, Report81 Regu5alions 2008 and adapted thc format of the financial SL31emenlS lu rLflL'tt Ihe special nature of the charity's ar.livities. bl Going Concern Th&se findneial slalements are prepared on the going c.oncern b￿lS15 as the Truslees believe thai no m21erial unccrtainlies ex151. The Tru8lecs havc considered Ihe level ol rese￿e8 and expepled l&vel of Incorne and expcndilurL' arid are sdiisfied that the charity has sufficient resource5 to rneel 115 liabilities as they fall duc for a period of al least Melve nionlhs fr()rn the dale of signing of these financial s131emenls. Acr.ordingly, Ihe financial $18lerrieiits bre prcparcd on a going concern basis and do nDI Include 3ny adiuslTnen15 which would be nccessary If this basis of prep3ralic>n w35 inappropriate cl Fund accounting unreslrir.led funds are those available for use al the disF.reliDn ol the Truslee5 ITI Ihe furtherance of the gener31 obieclives of Ihe charity whi('.h have nol been Ilesignaled lor olher purposes DLsigndlert funds are unreslricle legally rÈquired to meoi their share of the scherne deficil on an annuity purchase b3515 on withdrawal from the scheme. A full actuarial v21ualion for the scherne was carried out at 30 SepteTnber 2020. This valuation showed 3S5els of £800.3rn, 113hililies 01 £831.9m lind a defiGil of £31.6rti. To eliniinale Ihis funding shorif311, the Trustee hd5 asked Ihc participating employers 10 P3y 3ddiiion31 contributions to Ihc sclicme as follows.. Deficit contributions From 1 April 2022 10 31 January 2025. t3,312.000 per annum (payable monlhlyl. Unless a conces51on has bep.n agreed with IhE Truslee the lertn lo J1 January 20?5 applies Notc that the scheme's previou5 valualion was Garriod out Wllh ari efleclive dale of 30 September 2017. This valuation Showed assels of 1794 9m, 112hililics of £926 4m and 2 eelicil 01 £131.5m To eliminate this fLJnding shortfall, the Tru51ee. askpd the participaling employers tD pay 3ddilional conliibulion5 tu Ihe schome as follows. DÈflclt contrlbutions From 1 April 2019 10 30 Spplember 2025 £11.243 000 per annum (payable monthly and Increasing by 3.10 each tin The recovery plan contributions are allocaitd 10 èach participaling employer In line with their eslimaled share DI Ihe Series 1 and Seripq 2 scheme li3bililies. Whcre the scheme Iq In dp.ficit and whprp Ihe charity has agrcod ID a deficit funding arrangoment the charity recognise.% a Iiahilily lor th15 obligation The amount recognispd Is the nel present value of Ihe delicil reeuclion conlribulions Pdyabltt urider the agreemenl Ihai relale5 lo the deficil. The i)rpsenl value Is calculated usiiig Ill discouni rate detailed Iii Ihcse disclosures. The unwinding of Ihe discount rale Is recogn15ed as a finance cost ??- MAIDSTONE CITIZENS ADVICE BUREAU NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 18. Pension commitments Icontinuedl Present values of provision 31 March 2024 31 March 2023 31 March 2022 Presenl value ol prDvisiori £1,543 £3.304 £5.183 Reconciliation of opening and closing provision 2024 2023 Provision al start of period Unwinding of the discount factor linterÈsi expensel Deficit contribution paid Remeasurements- Impact of any Bhange In assumptions Remeasuremenls- amendrnenls lo contribution schedule 3.304 126 11.8881 5,183 97 11,8881 18AI Provision al end of period 1.543 3,304 Income and expendlturÈ Impact 2024 2023 Inleresi expense Remeasuremen15- Impact of any change in a5SUTnplion5 RemEasuretnenlS- amendrnenls lo conlnbution schedule 126 97 18BI 127 Assurnption5 31 March 2024 31 March 2023 31 March 2022 Rato of discount (per annuml 5.31U/. 5.52° 2.35 1D The d15counl rate5 shown dbove are Ihe &quivalÈnt single discounl rates which, when used lo discount the future recovery plan contributions duc. would give the same r2sulls as u51ng a full AA corporate bond yield curve lo discount the same recovery plan toniribuliuns Deficit contributions schedule The following schedule details tho defitil contributions agreed between the charity and the scheme al each year end pp.riod 31 Mar¢h 2024 31 March 2023 31 MaTch 2022 Year 1 1.574 1,888 1,888 Y8ar 2 1.SK4 1,888 Year 3 1,574 Year 4 Year 5 23 MAIDSTONE CITIZENS ALIVICE BUREAU NOTES TO THE ACCOUNTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 19. Analys18 ol changes in net debt Balance at 1 April 2023 Other non- Balanc8 at Ca5hflows cash changes 31 March 2024 Cash 368,Sf11 121,5961 347,305 20. Related party transaGtlons No transactions with related parties wer8 undertaken during the year 12023 none), other than those slipulaled In Note Y. -24- MAIDSTONE CITIZENS ADVICE BUREAU DETAILED INCOME AND EXPENDITURE ACCOUMT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds Restricted fund5 Total 2024 Total 2023 Income Maid5tone Borough Council Colyer Fergusso Pension Wise Donations Deposit account InlerES1 Golding Homes Energy advice Carbon Monoxidè Advice Project Henry Smith (MDS Pn8onl Universal Credil- Help ID Clai South East Water FDrum Other projects 133.100 133.100 10.000 368.398 464 3.490 133,100 10.000 368.398 418,018 505 968 7,500 17,545 17.190 56,000 142,237 2.500 10,060 464 3,490 3,077 45.000 56 000 163.483 3,077 45,000 56.000 163.483 so,000 50.000 187,054 645,958 833.012 805,623 Expendlture Schedule Establishment expenses 789 38,656 39.445 58,455 Adminislfalion expenses 164,036 603,428 767,464 711.896 Sundry expenses 2,021 14,B43 16.864 10,164 168,846 656,927 823.773 780,515 Net income before galn5 Qn penslon 5chernp 20,208 119,9691 9.239 25,108 Gains on pension schernE 1.761 1,761 1,879 Surplus for the year 21,969 110,9691 11,000 26,987 -25- MAIDSTONE CITIZENS ADVICE BUREAU SCHEDULES TO THE DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds Reslricted lunds Total 2024 Total 2023 Establishment expEnse$ Renl Insurance - prÈmise8 Waler Gas Eler.iricIIy Repairs and renewa15- premises Cleafiing and cleaning materials 575 23 28.175 1.126 563 1.838 3.598 1.375 1.981 28,750 1.149 575 1,876 3,671 1,403 2,021 26,660 994 421 2 129 2.995 23.77fi 1.480 38 73 28 40 789 3B,656 39,445 58,455 Administration expenses S313ries and sncièl security costs Pension scheme Gontribuiions Travel cosls 137,342 25,463 482.201 52,749 2.933 484 391 14.178 15,118 3.015 819 195 7.936 1.016 3.U46 1,728 5,922 8,000 619.543 78.212 2,984 494 399 14.468 15,442 3,077 836 199 11,966 1,OJ7 3,108 1,763 591,105 70,505 1908 741 566 10,912 16,745 1,8BO 859 377 7,735 2,351 2.872 eallh and safEIy BoDk5. Infarmalion and IT syslom5 Telephone Printing 3nd 51alionery P0513ge Advertlsing and publicily Cornpuler and ofFice expenses Other Dffice c051s Insurance Equipwenl Hire Hire of room The Blackthorn Trust bupport Univers31 Credil- Citizen5 Advice 290 324 62 4,030 62 35 2.142 8,000 164,036 603,428 767,464 711,896 Sundry expenses Bank Lhafges Auditors, rcmuneration AGM and other meetings Professional fees 204 10,376 911 3,352 208 10.588 S30 5.138 212 8,403 81C) 770 1.786 2.021 14.843 16.864 10.164 -26-