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2023-03-31-accounts

Citizens Advice Swansea Neath Port Talbot Ltd.

Annual Report

Annual Report and Financial Statements for the year ended 31[st] March 2023

Charity Number: 518825 A Company Limited by Guarantee Number: 01702827 Registered Address: City Gates, 50a Wind Street, Swansea, SA1 1EE

0

Index

Contents Page
Chair’s Statement 2
Introduction 3
Our Values 4
Impact report 4-5
Our Funding 6
Research and Campaigns 6
Volunteering 7
Wellbeing 8
Partnerships 9
Statement of Financial Activities 10
Future Plans 13
Financial Review 13
Reserves Policy 13
Statement of Trustees Responsibilities 14
Statutory Auditor’s Report 15
Summary income and expenditure account 19
Balance Sheet 20
Statement of Cash Flows 21
Notes to the Accounts 22
Statement of Financial Activities including comparatives for all funds 32

1

a

Chair’s Statement

In a world of shifting securities, abhorrent political decisions and growing number of families facing never before seen hardships it was more important than ever that our organisation was strong and able to effectively support the increasing number of people that needed our help. I’m very pleased to say that our organisation feels stronger and more secure than in previous years and continues to develop and grown through firm leadership and governance.

Thanks first must go to our amazing staff and volunteer teams, who went above and beyond at every level to ensure that those within our communities across Swansea and Neath Port Talbot were able to access the support and guidance they needed. Very often with complex issues in high stress situations. Thanks also to our trustees, for their time and commitment to the Citizens Advice Neath Port Talbot and their continued investment and enthusiasm. Thank you.

Three years on from the start of the pandemic and the effect of the global shutdown and the restrictions that were imposed on everyday life was still very much felt this year. Coupled with a cost of living crisis that forced many to choose between heating and eating and the huge pressures on our already stretched services was felt across the organisation. As home energy bills skyrocketed to unseen levels we saw demand for energy advice and support with bills increase and the call for food vouchers double on previous years. The cost of living crisis will continue and the importance and strength of our partnership working cannot be emphasised enough. Through close working with other third sector organisations across our community we were able to provide a holistic service for our clients and ensure that the relevant service and support could be accessed. Thank you to all of our partners and we look forward to working with you over the next year and beyond.

With the cost of living crisis set to continue and with no significant improvements to the UK economic outlook expected soon I think we can expect financial pressures for our clients to continue but also have a wider impact on our own funding as competition for funding pots will inevitably increase. I don’t think the importance of our service at this time can be overestimated and I would like to thank all of our funders and supporters, who ensure that we can continue our work.

On a personal note, I was proud to take over from our previous Chair, Chris Mann in October 2021 but family and work pressures have meant that I haven’t been able to commit as much time as I would have liked to the role and I informed the Board in January, that I would be stepping down following successful selection of a new Chair. I was very pleased to see Sonya Dougherty selected from the Trustee Board members and I know she will make an excellent Chair and I look forward to supporting her as an active board member.

I hope you enjoy reading our annual report and I hope you’ll agree that we continue to offer a fantastic service, even in these difficult times and will continue to provide for the residents of Swansea and Neath Port Talbot.

Thank you - Dylan Williams

2

Introduction

CASNPT has been assisting local people with their problems since 1939. It is a client-focussed organisation; a client will be given as much time as they need, but it is recognised that this may not be as much time as they want.

This Annual Report shows that we have delivered against contractual commitments and have brought added value through operating flexibly whilst delivering over and above that which has been expected of us. The feedback from clients and their real-life stories behind the financial data and statistics and the hard work of staff and volunteers is what underpins this report.

It also acts to pay tribute those that against all the odds; have worked so hard; with unprecedented demand to deliver the support and advice throughout our communities.

We work closely with several other local statutory and voluntary organisations to whom we may refer or signpost clients, if necessary, in order to secure further specialist support that they might need. They in turn refer or signpost to us.

The principal activity of CASNPT remains the provision of free, confidential, independent and impartial advice and information for members of the public. This is provided through one central office location in Swansea city centre and through remote delivery across the counties of Neath Port Talbot and Swansea. In addition to generalist advice the following specialist advisory services are provided:

As a member of the wider national Citizens Advice service we adhere to a common Performance and Quality Framework and our local services have consistently met Citizens Advice quality standards throughout the year. In all of our work, the broader aims of Citizens Advice at a national level are at the forefront of our thinking, ensuring that these aims inform our Vision, Mission and Values.

Our continued ambition is to always provide a quality advice service for communities across Swansea, Neath, Port Talbot, providing accessible, high-quality advice, advocacy and information services, which meet the changing needs of our geographically dispersed communities. To support this, we operate within the principles of our values

3

Our Values:

We’re Inventive.

We’re not afraid of trying new things and learn by getting things wrong. We question every idea to make it better and we change when things aren’t working.

We’re Generous.

We work together, sharing knowledge and experience to solve problems. We tell it like it is and respect everyone.

We’re Responsible.

We do what we say we’ll do and keep our promises. We remember that we work for a charity and use our resources effectively.

Impact Report

Over the past year we have seen 5,453 clients.

Client’s Ages 57.4% 282 were 15-24 1,455 were 25-39 1,490 were 40-54 0.1% 1,321 were 55-69 433 were 70-89 & 10 were 90+ 42.5%

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How Clients Contacted Us
Telephone 12,068 Email 7,930
Adviceline 1,304 In Person 944
Letter 936 Other 446
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Diversity of our Clients
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4

We have dealt with 20,711 issues.

7,249 cases of Benefits & Tax £3,446,384 in Income Gained Credits £1,838,223 in Debts Written 4,535 cases of Debt Off 1,861 cases of Universal £84,146 in Repayments Credit Rescheduled 1,573 cases of Utilities £480 in Reimbursements and Loans 1,238 cases of Housing £145,405 in Other Services 971 cases of Financial (Benefits Services maintained & debts stabilised)

We were able to give out 678 Foodbank vouchers and 680 fuel vouchers to our clients.

Here is what our clients have to say about our services.

I am so grateful for the service and could not have been successful in my application for PIP without CAB’s help. I also really appreciated a follow up phone call. Thank you very much indeed.

Having contacted Citizen's Advice for several problems I am very happy with all the assistance and advice I have received. The various assistants have all been very kind and patient and have helped enormously.

Excellent service I don't know what I would have done without they help. I have mental health and so understanding. Thanks, from the bottom of my heart.

And what staff have to say about working at Citizens Advice Swansea Neath Port Talbot.

5

Our Funding

Our Annual Report highlights the positive differences we have made to communities across Swansea Neath Port Talbot during the year 1st April 2022 to 31st March 2023.

We work with partner organisations within the public and voluntary sector to make a positive change on people’s lives. We contribute to Wales wide and National campaigns and undertake research on issues affecting residents of our region. We liaise with a range of organisations and participate in local, regional, and national networks, with the aim of making a real difference to residents of Swansea Neath Port Talbot that need our help. We would not be able to do this without the support of our funders and partners to whom we would like to extend our gratitude.

Research & Campaigns

Contributed to the cross sector steering group aimed at making Mid and West Wales a real Living Wage region.

We were actively promoted Anti-racism and Black History 365.

Started a long-term study into the impact of the cost of living crisis on our clients. Publishing the first stage June 2023.

Participated in the launch of the Swansea Poverty Truth Commission and the launch of Swanse: Wales' First Human Rights City.

Lobbied all our MPs asking them to support an increase in welfare benefits based on the rate of inflation.

Collaborated with Heriot Watt University on the Joseph Rowntree Destitution in the UK survey.

Completed research for the Welsh Government NRPF guidance, published in July 2022. https://gov.wales/no-recourse-public-funds-nrpf-guidance

6

Volunteering

The recruitment and involvement of volunteers continues to bring a range of benefits to the organisation and 2022-2023 has seen increased activity. Volunteers are an important part of resourcing our service and we remain grateful for the commitment of all concerned.

7

Wellbeing

At CASNPT the overall mental, physical, emotional, and economic health of our employees is paramount and we aim to support these in any way possible. Investing in our teams ultimately leads to better service for our clients.

Aimed to create a work culture in which employees can develop supportive relationships with their colleagues.

Ensured all roles are paid at least the Real Living Wage.

Introduced new job roles, providing progression pathways

Delivered ten 2-hour online wellbeing sessions led by one of our Team Leaders providing a few tools for well-being.

Provided up to 6 sessions of structured counselling when needed.

Subscribed to an Employee Assistance programme providing 24/7, 365-day access to compassionate support whatever challenges are faced.

Held a series of Wellbeing Wednesday online sessions, covering topics such as Work Station Ergonomics, The Menopause and solutions to common sleep problems.

Provided mental health awareness training for all employees within their first year of employment.

Offered the opportunity for Mental Health and Suicide First Aid Training.

8

Partnerships

Over the year we have worked hard to strengthen our reputation with key stakeholders and build a wider range of strong and effective partnerships, with existing and new partners to service client needs. Ensuring that CASNPT is a trusted voice for community-based service provision. During the year it has been our pleasure to develop new and further relationships with:

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Trustees' report for the year ended 31 March 2023

Statement of Financial Activities

Reference and administrative details of the charity, its trustees and advisors

The trustees during the financial year and up to and including the date the report was approved were:

Name Position Dates Sonya Dougherty Chair from April 2023 Dylan Williams Chair to April 2023 Dr. Richard Baylis Treasurer David Jones Geoffrey Lee Chris Mann Nita Sparkes Guy Wendon resigned June 2023 Sandra Beveridge resigned April 2023 Alexander Latham-Gambi resigned July 2022 Nicola Matthews resigned February 2023 Chief Executive Officer Caroline Newman Charity number 518825 Registered in England and Wales Company number 01702827 Registered in England and Wales

Registered and Principal Address

Second Floor, City Gates, Wind Street, Swansea SA1 1EE

Statutory Auditors

Bevan Buckland LLP

Bankers

CAF Bank Charities Official Investment Fund (COIF)

Structure, governance and management

The charity is a company limited by guarantee and was formed on 25 February 1983. It is governed by its memorandum and articles of association, as amended on 6 September 2017. It was registered as a charity on 30 June 1987. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1. At 31 March 2023 the company had 24 individual members and 1 organisational member (2022 - 34 and 3).

Organisational Structure

Citizens Advice Swansea Neath Port Talbot (CASNPT) is governed by its trustee board which is responsible for setting the strategic direction of the organisation and for monitoring and scrutinising its progress and performance against agreed objectives. The trustees carry the ultimate responsibility for the conduct of CASNPT and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet at least quarterly and delegate the day-to-day operation of the organisation to the Chief Executive Officer (CEO) and a senior management team. The trustee board is independent from management.

A group of trustees, known as the 'Officers' Group', comprising the Chair, Vice Chair and Treasurer and another trustee on rotation, meets in between each board meeting and reports back recommendations for consideration on issues delegated to it by the trustee board on specific areas of the organisation's business. The Officers' Group has Terms of Reference which are regularly reviewed.

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Trustees' report for the year ended 31 March 2023 (continued)

Recruitment and Appointment of Trustees

The trustees are elected from the local community and must either reside, work or have an interest in the areas covered by the service. A selection panel comprising trustees and the CEO, and chaired by the Chair of trustees, undertakes the interviewing of all potential new board members. A separate process agreed by the trustee board is followed for the election of Chair, which may include co-options from outside of the board itself. Each panel then reports its recommendations for co-option or election at the following trustee board/AGM for approval. No other persons or bodies external to the charity is entitled to appoint persons to the trustee board.

Induction of Trustees

Newly appointed trustees are provided with an induction to CASNPT through meetings with staff and the Chair, and mentoring by established trustees. All trustees have access to Citizens Advice online services and information, and are encouraged to attend national Citizens Advice meetings and conferences and to partake in training.

Related Parties

CASNPT is a member of Citizens Advice, the operating name of the National Association of Citizens Advice Bureau, which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of CASNPT in order to fulfil its charitable objects and comply with the national membership requirements.

The charity also co-operates and liaises with a number of other advisory services, local charities and local authority departments on behalf of clients. Where one of the trustees holds the position of trustee/director of another charity, they may be involved in discussions regarding that other charity but not in the ultimate decision- making process.

Risk management

CASNPT operates a corporate risk management process, with a risk management strategy and risk register agreed and regularly reviewed by the trustee board. The trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end CASNPT continually monitors and manages its risk, reviewing the corporate risk register and ensuring action plans are in place to mitigate clearly defined risk areas.

A major external risk is that of the loss of funding. The effects of this are mitigated by the procedures in place, including diversification of funding streams. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Objectives and activities

The charity's objects

The Charity’s objects are to promote any charitable purpose for the public benefit by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress in particular, but without limitation, for the benefit of the community in the City and County of Swansea and Neath Port Talbot County Borough Council and surrounding areas (the ‘area of benefit’).

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Trustees' report for the year ended 31 March 2023 (continued)

The charity's main activities

CASNPT provides free, confidential, impartial and independent advice and information as part of meeting the two service wide aims:

While this involves providing advice and information to members of the public, an essential aspect of the role of Citizens Advice is to exercise a responsible influence on the development of policies and services and to ensure individuals do not suffer through a lack of knowledge or an inability to express their needs effectively, through research, media and campaigning work.

Public benefit statement

The trustees have paid due regard to the Charity Commission’s guidance on public benefit in deciding the activities undertaken by the local Citizens Advice service during the year. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements.

The principal activity of CASNPT remains the provision of free, confidential, independent and impartial advice and information for members of the public. This is provided through one central office location in Swansea city centre and through remote delivery across the counties of Neath Port Talbot and Swansea. In addition to generalist advice the following specialist advisory services were provided:

Advisory services are provided through telephone consultations, video calls and email throughout the area of benefit. Face-to-face consultations have been re-introduced gradually since June 2022.

12

Trustees' report for the year ended 31 March 2023 (continued)

Future plans

Financial Review

The net deficit for the year was £25,901, including net income of £60,341 on unrestricted funds and a net deficit of £86,242 on restricted funds, after transfers.

At 31 March 2023, total reserves were £788,845, of which £283,583 represented balances on restricted funds, (2021/22: £814,746 total with £369,825 restricted).

Reserves Policy

It is the charity's policy that funds not presently committed or invested in tangible fixed assets should be maintained at the equivalent of a minimum of four and a maximum of six months' expenditure in general unrestricted funds in order for CASNPT to continue to pursue its activities should there be a period of reduced income. This is also considered prudent in the light of funding which is received in arrears.

The Charity’s free reserves excluding fixed assets, at the year-end were £499,290 (2021/22 £435,615). Of these trustees have previously resolved to designate £40,000 towards the future relocation of its Swansea premises. At 31 March 2023 therefore, general unrestricted reserves amounted to £459,290. This amounts to just over 4 months' budgeted expenditure, and further funding opportunities will be sought to increase general free reserves to remain above the lower threshold of the reserves policy.

13

Trustees' report for the year ended 31 March 2023 (continued)

Statement of trustees' responsibilities

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.

Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.

Signed on behalf of the board 23 August 2023

Name: Sonya Dougherty (Chair)

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14

Report of the Independent Auditors to the Trustees of Citizens Advice Swansea Neath Port Talbot Limited

Opinion

We have audited the financial statements of Citizens Advice Swansea Neath Port Talbot Limited (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to Going Concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion 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 is 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

15

Report of the Independent Auditors to the Trustees of Citizens Advice Swansea Neath Port Talbot Limited (continued)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to 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 respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud.

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

16

Report of the Independent Auditors to the Trustees of Citizens Advice Swansea Neath Port Talbot Limited (continued)

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and regulations, our procedures included the following:

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

17

Report of the Independent Auditors to the Trustees of Citizens Advice Swansea Neath Port Talbot Limited (continued)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………………………………………………………………. Michael Jones (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP Chartered Accountants and Statutory Auditors, Ground Floor,

Cardigan House, Castle Court, Swansea Enterprise Park, Swansea. SA7 9LA

18

Statement of Financial Activities including (summary Income and expenditure account) for the year ended 31 March 2023

Notes
2023
Unrestricted
funds
£
Income and endowments from:
Donations and legacies
(2)
100
Grants - Charitable activities
(3)
87,721
Investments
(4)
5,807
Other
350
Total income
93,978
Expenditure on:
Charitable activities
58,301
Repayment of grants
(8)
-
Total expenditure
58,301
Net income / (expenditure)
35,677
Transfers between funds
24,664
Net movement in funds
60,341
Fund balances brought forward
444,921
Fund balances carried forward
(8)
505,262		 2023
Restricted
funds
£
-
1,184,010
-
25
1,184,035
1,111,234
134,379
1,245,613
(61,578)
(24,664)
(86,242)
369,825
283,583		 2023
Total
funds
£
100
1,271,731
5,807
375
1,278,013
1,169,535
134,379
1,303,914
(25,901)
-
(25,901)
814,746
788,845		 2022
Total
funds
£
400
1,270,084
119
51
1,270,654
1,141,917
-
1,141,917
128,737
-
128,737
686,009
814,746

All incoming resources and resources expended derive from continuing activities.

19

Balance Sheet – as at 31 March 2023

alance Sheet – as at 31 March 2023
Notes
2023
Unrestricted
£
Fixed assets
Tangible assets
(9)
5,972
Total fixed assets
5,972
Current assets
Debtors and prepayments
(10)
17,063
Cash at bank and in hand
(11)
519,067
Total current assets
536,130
Current liabilities:
amounts falling due within one year
Creditors and accruals
(12)
36,840
Total current liabilities
36,840
Net current assets / (liabilities)
499,290
Net assets
505,262
Funds
General unrestricted funds
465,262
Designated funds
40,000
Restricted funds
-
Total funds
505,262		 2023
Restricted
£
-
-
-
298,583
298,583
15,000
15,000
283,583
283,583
-
-
283,583
283,583		 2023
Total
£
5,972
5,972
17,063
817,650
834,713
51,840
51,840
782,873
788,845
465,262
40,000
283,583
788,845		 2022
Total
£
9,306
9,306
44,584
815,405
859,989
54,549
54,549
805,440
814,746
404,921
40,000
369,825
814,746

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the board of trustees on 23[rd] August 2023

Signed: ………………..…………. (Chair) Signed ............................................ (Treasurer)

Name: Sonya Dougherty

Name: Dr. Richard Baylis

20

Statement of Cash Flows – for the year ended 31 March 2023

Cash flows from operating activities:
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Dividends and interest
Purchase of tangible fixed assets
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Repayments on borrowing
Cash inflows from new borrowing
Net cash provided by (used in) financing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at beginning of the reporting period
Cash and cash equivalents at end of the reporting period
Reconciliation of net movement in funds to net cash flow from
Net movement in funds for the reporting period (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
Interest received
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by (used in) operating activities
Analysis of cash and cash equivalents
Cash at bank and in hand
Notice deposits (less than 30 days)
Total cash and cash equivalents		 2023
£
(3,562)
(3,562)
5,807
-
5,807
-
-
-
2,245
815,405
817,650
2023
£
(25,901)
3,334
(5,807)
27,521
(2,709)
(3,562)
2023
£
817,650
-
817,650		 2022
£
282,928
282,928
119
(10,002)
(9,883)
-
-
-
273,045
542,360
815,405
2022
£
128,737
696
(119)
206,380
(52,766)
282,928
2022
£
815,405
-
815,405

21

Notes to the Accounts – for the year ended 31 March 2023

1 Accounting policies

(a) Basis of accounting

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.

(b) Going concern

The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.

(c) Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.

Grants receivable

Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources.

Grants received for a specific purpose and subject to conditions specified by the donor are treated as restricted funds. Revenue grants are credited directly to the SoFA. Capital grants are released over the life of the assets in line with the depreciation policy.

Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance

Bank interest

Bank interest is included in the SoFA on a receivable basis.

Other income

Sales of services are included in the SoFA in the period to which they relate. Other income, including donations, gifts and covenants, is included as it is received.

Gifts and intangible income

In addition to the above, the charity also receives help and support in the form of voluntary assistance in advising the public. This help and support is not included in the financial statements, but its value to the charity is acknowledged and disclosed in the trustees' report.

Deferred income

Grants received in advance of the period to which the funder requires the expenditure to be applied are reflected in deferred income within the balance sheet. Income is released to the SoFA in the reporting period in which the conditions which limit recognition are met.

22

Notes to the Accounts – for the year ended 31 March 2023 (continued)

1 Accounting policies (continued)

(d) Expenditure and liabilities

Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.

All expenditure related to the provision of advice services is included within charitable expenditure.

Costs allocated between expenditure categories are on a basis designed to reflect their resource usage. Some costs are allocated directly to activities, other costs are apportioned, for example by staff time spent on the activity, or another equitable usage measure.

(e) Taxation

As a charity the organisation benefits from rates relief and is generally exempt from corporation tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.

(f) Tangible fixed assets

Tangible fixed assets costing more than £2,000 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt.

Depreciation is provided on such tangible fixed assets at rates calculated to write off the cost on a straightline basis over their expected useful economic lives as follows:

Computer equipment: over 3 years

Website: over 3 years

(g) Pensions

The charity operates a defined contribution scheme for the benefit of its employees, compliant with autoenrolment legislation. The costs of contributions are recognised in the year they are payable.

(h) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. The use of such funds is at the trustees’ discretion.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

(i) Leases

Rental costs under operating leases are charged on a straight-line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.

23

Notes to the Accounts – for the year ended 31 March 2023 (continued)

1 Accounting policies (continued)

(j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(l) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(m) Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

24

Notes to the Accounts – for the year ended 31 March 2023 (continued)

2 Donations and legacies
General donations
3 Grants for charitable activities
City & County of Swansea:
- core funding
- Refugee Resettlement
- Fuel Poverty
Neath Port Talbot Borough Council - core
Welsh Government:
- Advicelink - Debt & other specialist advice
- Advicelink - Community Focus
- Advicelink - Test and Learn
- Advicelink - Pension Credit
- Advicelink - Employment Advice
Swansea Bay Health Board - health outreach
Big Lottery - Making Sense of Money
NHS Charities Together
Claim What's Yours
Partnership Work
Dementia project
Moondance Foundation
Age Cymru partnership
Basic Income Pilot
Citizens Advice - Help to Claim
LIPSS partnership
NRPF
Miscellaneous small grants
4 Investments
Interest receivable		 2023
Unrestricted
funds
£
100
100
2023
Unrestricted
funds
£
-
-
-
87,721
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
87,721
2023
Unrestricted
funds
£
5,807
5,807		 2023
Restricted
funds
£
-
-
2023
Restricted
funds
£
153,008
18,164
8,000
-
301,016
398,202
-
-
-
27,395
9,970
18,359
36,000
20,000
35,214
47,450
26,936
84,296
-
-
-
-
1,184,010
2023
Restricted
funds
£
-
-		 2023
Total
funds
£
100
100
2023
Total
funds
£
153,008
18,164
8,000
87,721
301,016
398,202
-
-
-
27,395
9,970
18,359
36,000
20,000
35,214
47,450
26,936
84,296
-
-
-
-
1,271,731
2023
Total
funds
£
5,807
5,807		 2022
Total
funds
£
400
400
2022
Total
funds
£
142,935
11,804
25,000
84,185
289,438
382,887
60,000
30,000
10,000
27,395
-
55,078
13,500
15,000
-
-
-
-
73,374
32,650
15,775
1,063
1,270,084
2022
Total
funds
£
119
119

25

Notes to the Accounts – for the year ended 31 March 2023 (continued)

5. Staff costs and numbers
Gross salaries
Social security costs
Employment allowance
Pensions		 2023
£
841,715
74,522
(5,000)
48,060
959,297		 2022
£
820,839
67,585
(4,000)
45,824
930,248

The average number of employees during the year was 38 (2022: 38).

There were no employees with emoluments above £60,000.

The average number of employees during the year analysed by function was:

Advisers
Managers
Support and administration
Defined contribution pension scheme
Costs of the scheme to the charity for the year
Amount of any contributions outstanding at the year end		 2023
£
28
4
6
38
2023
£
48,060
6,432		 2022
£
28
4
6
38
2022
£
45,824
6,021

The charity contributes up to 6% of pensionable earnings as part of an auto-enrolment scheme to People's Pension which is open to all employees. There is no final salary scheme.

6 Trustee expenses

Travel expenses of £104 were paid to one trustee during the year (2022: nil)

7 Key management personnel

The key management personnel of the charity comprise the trustees and the Chief Executive Officer only. All trustees give their time freely and no trustee remuneration was paid in this or the previous year. The total employee benefits of the key management personnel of the charity were £56,167 (2022: £53,903).

26

Notes to the Accounts – for the year ended 31 March 2023 (continued)

8Charity funds
Swansea - general advice
Swansea - Refugee resettlement
Swansea -
fuel poverty
Welsh
Government:
Welsh Govt. - Advicelink -Debt & other
specialist advice
- Advicelink - Community Focus
- Advicelink - Test and Learn
- Advicelink - Pension Credit
- Advicelink - Employment Advice
- Advicelink - Claim What's Yours
- Better Advice, Better Lives
- Communities Focus
- Frontline Advice
- redundancy reserve
SCVS - Integrated Care Fund
Swansea Bay HB - health outreach
Citizens Advice - Help to Claim
Community Foundation - Covid fund
BEIS - remote working fund
Big Lottery- Making Sense of Money
People's Postcode Lottery
LIPSS partnership
NHS Charities Together
Partnership Work
Age Cymru partnership
Age Cymru - Dementia project
Basic Income Pilot
Moondance Foundation
Total Restricted Funds
Unrestricted Funds
Total Funds		 Balance
b/f
£
61,878
3,949
-
51,284
55,993
41,331
30,772
2,279
2,113
16,547
4,244
9,568
17,898
705
15,810
41,463
847
691
-
1,643
135
5,674
5,000
-
-
-
-
369,825
444,921
814,746		 Incoming
£
153,008
18,164
8,000
301,016
398,227
-
-
-
36,000
-
-
-
-
-
27,395
-
-
-
9,970
-
-
18,359
20,000
26,936
35,214
84,296
47,450
1,184,035
93,978
1,278,013		 Outgoing
£
87,804
17,594
7,261-
297,085
394,832
-
-
-
34,118
-
-
-
-
-
41,772
-
-
402
10,098
-
-
17,079
19,808
20,202
35,152
84,836
43,192
1,111,234
58,301
1,169,535		 Repaid
£
-
-
(26,723)
(30,460)
(30,706)
-
-
-
(12,568)
(4,044)
(2,954)
-
-
-
(26,924)
-
-
-
-
-
-
-
-
-
-
-
(134,379)
-
(134,379)		 Transfers
£
-
-
-
739
-
-
-
-
(3,979)
(200)
(6,614)
-
(14,539)
-
-
128
-
-
-
-
540
-
(24,664)
24,664
-		 Balance c/f
£
127,082
4,519
-
28,492
28,928
10,625
30,772
2,279
3,995
-
-
-
17,898
705
1,433
-
847
289
-
1,643
135
6,954
5,192
6,734
62
-
4,258
283,583
505,262
788,845

27

Notes to the Accounts – for the year ended 31 March 2023 (continued)

8A Charity funds - previous year
Balance b/f
£
Swansea - general advice
44,281
Swansea - Refugee resettlement
2,205
Swansea - fuel poverty
-
Welsh Govt. - Advicelink -Debt & other
29,877
- Advicelink - Community Focus
40,167
- Advicelink - Test and Learn
30,706
- Advicelink - Pension Credit
20,919
- Advicelink - Employment Advice
-
- Advicelink - Claim What's Yours
-
- Better Advice, Better Lives
25,858
- Communities Focus
4,244
- Frontline Advice
9,568
- Money Advice Service
9,758
- redundancy reserve
17,898
SCVS - Integrated Care Fund
2,770
Swansea Bay Health Board - health ou
13,510
Citizens Advice - Help to Claim
20,629
Community Foundation - Covid fund
11,269
BEIS - remote working fund
3,433
Big Lottery- Making Sense of Money
2,781
People's Postcode Lottery
1,643
LIPSS partnership
-
NHS Charities Together
-
Partnership Work
-
Total Restricted Funds
291,517
Unrestricted Funds
394,492
Total Funds
686,009		 8A Charity funds - previous year
Balance b/f
£
Swansea - general advice
44,281
Swansea - Refugee resettlement
2,205
Swansea - fuel poverty
-
Welsh Govt. - Advicelink -Debt & other
29,877
- Advicelink - Community Focus
40,167
- Advicelink - Test and Learn
30,706
- Advicelink - Pension Credit
20,919
- Advicelink - Employment Advice
-
- Advicelink - Claim What's Yours
-
- Better Advice, Better Lives
25,858
- Communities Focus
4,244
- Frontline Advice
9,568
- Money Advice Service
9,758
- redundancy reserve
17,898
SCVS - Integrated Care Fund
2,770
Swansea Bay Health Board - health ou
13,510
Citizens Advice - Help to Claim
20,629
Community Foundation - Covid fund
11,269
BEIS - remote working fund
3,433
Big Lottery- Making Sense of Money
2,781
People's Postcode Lottery
1,643
LIPSS partnership
-
NHS Charities Together
-
Partnership Work
-
Total Restricted Funds
291,517
Unrestricted Funds
394,492
Total Funds
686,009		 Incoming
£
142,935
11,804
25,000
289,438
382,887
60,000
30,000
10,000
13,500
-
-
-
-
-
-
27,395
73,374
-
-
-
-
32,650
55,078
15,000		 Outgoing
£
125,338
10,060
25,222
268,031
362,081
49,375
20,147
7,721
11,387
9,311
-
-
-
-
2,065
25,095
52,540
10,422
2,742
2,793
-
32,515
49,404
10,000		 Transfers
£
Balance c/f
£
-
61,878
-
3,949
222
-
-
51,284
(4,980)
55,993
-
41,331
-
30,772
-
2,279
-
2,113
-
16,547
-
4,244
-
9,568
(9,758)
-
-
17,898
-
705
-
15,810
-
41,463
-
847
-
691
12
-
-
1,643
-
135
-
5,674
-
5,000
291,517 1,169,061 1,076,249 (14,504)
369,825
394,492 101,593 65,668 14,504
444,921
686,009 1,270,654 1,141,917 -
814,746

28

Notes to the Accounts – for the year ended 31 March 2023 (continued)

8b Fund name Purpose of restriction
Swansea - general advice provided by the City and County of Swansea to support local Citizens
Advice delivery within the county.
Swansea - Refugee resettlement delivery of welfare benefits support and debt advice as part of the
refugee resettlement programme.
Swansea - fuel poverty funded by Swansea Council Tackling Poverty Team and administered
by CASNPT only applicable to residents living within the City and
County of Swansea;covers issue of emergency vouchers for those on
pre-payment meters.
Welsh Government:
Advicelink-Debt & other specialist to ensure people have access to specialist advice and support in
advice relation to services providing benefits, debt, housing, employment
and discrimination rights advice.
Advicelink - Community Focus for the delivery of social welfare information and advice up to and
including generalist advice.
Advicelink - Test and Learn welfare benefits take-up campaign to raise awareness around
income maximisation and access to information and practical
support.
Advicelink - Pension Credit supporting a Pension Credit uptake campaign with
overarching reach across Local Authority and third sector
services.
Advicelink - Employment Advice preparation and delivery of financially focussed employment advice
training to young people and advisers.
Advicelink - Claim What's Yours Welsh Government campaign to support clients with
income maximisation and benefit take-up.
Better Advice, Better Lives ceased December 2019 - to provide advice in health
centres on benefits take-up.
Communities Focus ceased December 2019 - to fund advice work delivered in
former Communities First clusters.
Frontline Advice
ceased December 2019 - to fund specialist welfare benefits advice.
The balance of the above three funds has been transferred, by agreement of the funder, to unrestricted
reserves.

29

Notes to the Accounts – for the year ended 31 March 2023 (continued)

8b Fund name Purpose of restriction
Redundancy reserve redundancy liability reserve following cessation of previous money
advice service.
Swansea Council for Voluntary
Service to work in four GP cluster areas with a focus on awareness early
-
Integrated Care Fund		 intervention, prevention and wellbeing.
Swansea Bay Health Board provided by Swansea Bay University Health Board to deliver advice
-
health outreach		 services in local health centres.
Citizens Advice - Help to Claim to provide support for Universal Credit claimants up to their first
payments under that benefit. The balance has been transferred, with
Community Foundation - Covid the agreement of the funder, to unrestricted reserves.
fund to assist in making the charity's premises ready and safe for customers
and staff to return, when appropriate to do so.
BEIS - remote working fund to enable the purchase of new equipment and associated costs to
facilitate home working.
Big Lottery - Making Sense of to help children, young people and adults to understand and manage
Money their finances better.
People's Postcode Lottery to provide additional IT equipment and part funding of staff hours to
support people affected by the roll-out of Universal Credit.
LIPSS partnership Litigants in Person Support Strategy, to provide crucial legal services to
litigants in person.
NHS Charities Together to provide and expand our health outreach advice service.
Partnership work development of referral partners, encouraging use of ReferNet and
delivery of benefit awareness raising sessions.
Age Cymru partnership Single Advice Fund (SAF) funded partner previously managed by Citizens
Advice Cymru. Designated funds from Welsh Government allocated
with the purpose of delivering benefit to Age Cymru Clients.
Age Cymru - Dementia project West Glamorgan Regional Integration Fund (RIF) collaborative project to
provide holistic support and advice service to dementia clients and their
carers.
Basic Income Pilot variation of SAF contract providing additional funding to support care
leavers with financial capability.
Moondance Foundation to provide energy advice to clients as a result of cost of living crisis.

30

Notes to the Accounts – for the year ended 31 March 2023 (continued)

9 Tangible assets
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
10 Debtors and prepayments
Debtors (including accrued income)
Prepayments
11 Cash at bank and in hand
Cash at bank
Cash in hand
12 Creditors and accruals
Social security and other taxes
Creditors
Accruals and deferred income		 Website
4,980
-
4,980
138
1,660
1,798
3,182
4,842
 Leasehold
property
improvements
43,563
-
43,563
43,563
-
43,563
-
-		 Fixtures,
Fittings &
Equipment
£
52,004
-
52,004		 Computer
equipment
£
80,108
-
80,108
75,644
1,674
77,318
2,790
4,464
2023
£
-
17,063
17,063
2023
£
817,446
204
817,650
2023
£
9,566
6,432
35,842
51,840		 Total
£
180,655
-
180,655
52,004
-
52,004		 171,349
3,334
174,683
- 5,972
- 9,306
2022
£
14,911
29,673
44,584
2022
£
815,201
204
815,405
2022
£
16,290
6,021
32,238
54,549

13 Related party transactions

There were transactions amounting to £10,096 (2022: £10,096) between CASNPT and the National Association of Citizens Advice Bureau in relation to insurance, IT support and information services.

14 Operating leases
Expected future minimum lease payments over the remaining life
of the lease, analysed into the period in which the commitment
expires:
Land and Property
Within one year
In the second to fifth years inclusive		 2023
£
-
-
-		 2022
£
39,000
3,526
42,526

31

Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2023

Income
Donations and legacies
Grants - Charitable activities
Other trading activities
Investments
Other
Total income
Expenditure
Salaries, NI & Pension
Other staff costs
Recruitment
Staff - Training
Staff - Travel & subsistence
Volunteer - Expenses
Trustee expenses
Insurance - General
IT Equipment
IT Support
Office equipment expense
Other
Payroll/Acctg/Consultancy fees
Postage, printing & stationery
Reference materials, subscrptns
Telephone & Comms
Service Charge
Cleaning, repairs & maint'ce
Heat & light
Insurance - Property
Rates
Rent
Audit
Legal & professional fees
Translation costs
Bank charges
Depreciation
Partner payments
Disbursements
Publicity & Promotion
Repayment of grants
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward		 2023
2022
Unrestricted Unrestricted
funds
funds
£
£
100
400
87,721
101,023
-
-
5,807
119 -
350
51
93,978
101,593
45,419
54,484
-
2
-
-
142
838
46
14
-
18
6
-
398
598
31
8
116
169
99
122
-
-
250
363
486
787
857
1,345
731
1,051
1,629
1,430
688
472
1,105
324
565
400
147
25
3,518
2,744
350
397
1
9
1,451
1
3
9
187
58
27
-
-
-
49
-
-
-
58,301
65,668
35,677
35,925
24,664
14,504
60,341
50,429
444,921
394,492
505,262
444,921		 2023
Restricted
funds
£
-
1,184,010
-

25
1,184,035
913,878
103
1,138
5,259
981
1,970
98
6,708
1,438
3,795
1,879
30
4,204
8,316
15,378
12,261
16,729
7,847
11,358
5,807
1,518
36,140
6,250
353
-
69
3,147
43,499
-
1,081
134,379
1,245,613
(61,578)
(24,664)
(86,242)
369,825
283,583		 2022
Restricted
funds
£
-
1,169,061
-
-
-
1,169,061
875,764
6,318
52
7,397
226
1,583
-
6,596
3,145
4,469
8,680
216
4,003
12,284
21,233
12,608
19,224
6,261
4,279
5,288
324
36,256
4,621
109
1,441
87
638
33,000
76
71
-
1,076,249
92,812
(14,504)
78,308
291,517
369,825		 2023
Total
funds
£
100
1,271,731
-
5,807
375
1,278,013
959,297
103
1,138
5,401
1,027
1,970
104
7,106
1,469
3,911
1,978
30
4,454
8,802
16,235
12,992
18,358
8,535
12,463
6,372
1,665
39,658
6,600
354
1,451
72
3,334
43,526
-
1,130
134,379
1,303,914
(25,901)
-
(25,901)
814,746
788,845		 2022
Total
funds
£
400
1,270,084
-
119
51
1,270,654
930,248
6,320
52
8,235
240
1,601
-
7,194
3,153
4,638
8,802
216
4,366
13,071
22,578
13,659
20,654
6,733
4,603
5,688
349
39,000
5,018
118
1,442
96
696
33,000
76
71
-
1,141,917
128,737
-
128,737
686,009
814,746

32