BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED (a cornpany limited by guarantee) REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 Company No. 02202427 Charity No. 519639 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED CONTENTS Page Trustees'￿1rt¢torS, report 3-10 Independent Auditor's report 11- 13 Statemellt of finan¢ial aetlvltles 14 Balance shtet 15 Cash flow statement 16 Note$ lo the fmaneial statements 17-32 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'IDIRECTORS, REPORT For the year ended 31 Mareh 2024 The Trustees (who arc also directors of the charity for the purposes of the Companies Act) present their report and the audited fllmncial statements for the year ended 31 March 2024, The fllwicial statements coxnply with the Charities Act 2011, the Conwies Act 2006, the Memorandwn and Articles of Associatioo and Accounting and Reporting by Charities: Statement of Re¢onllnended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Rq)orting Standard applxcable in the UK and Republic of Ireland (FRS 102) (effeGtive l January 2019). REFERENCE AND ADMINISTRATIVE INFORMATION Charity number: 519639 Company number: 02202427 Authorised & regulated by the Flnanclal Condnet Authority FRPI: 617509 Registered office: First Floor Welliagton House 31-34 Waterloo Street Birnlingham B2 5TJ Trustee Directors: Paul Southon {Tesigned 16111123) Jill Lambert Councillor Gareth Moore Elizabeth Alvey Chaktali Desai Liam Brooker Sundeep Gill Lydia Stockdale Lucy VenMll Richard Burden Phil Marris Kay Burton-williams Dee Kundi Inderpr￿t Johal (ctropted 12107123. resiglled 1413124) Senlor Management Team: Janice Nichols (Chief EX￿Utive) Kelly Danks Samantha Catchpole Jane Priest Auditors: CKCA Limited No. 4 Castle Court 2 Castlegats Way Dudley DYI 4RH Bal￿er8. Unity Trust Bank PIC 9 Brindley Place Birmingham BI 2HB Sollcltors: DLA Piper UK LLP Victoria Square House Birniingham B2 4DL Gowling WLG (UK) LLP Two Snowhill Birminghatn B4 6WR BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES)mIRECTORS' REPORT For the year ended 31 March 2024 STRUCTURE, GOVERNANCE AIYD IWAGEMENT GoverlllDg document The Charity (which has the working narne of 'Citizens Advice Birn]ingham (CAB),) was fornied as a company limited by guarantee on 3 December 1987 (Company Number.. 02202427). The full name of the charity is Binningham Citizens Advice Bureau Service Limited and was registered with the Charity Commission on 15 December 1987 (Charity Number.. 519639). It is governed by its Memorandum and Articles of Association, as last Updat￿ on 8 November 2023. Ref ruitment and appoinlment of trustees The Charity is governed through a Trustee Board. Trustees who have held office during the year are listed on page 3. The Articles of Association provid¢ for a minimum of three and a maximum of frf*en Trustees. Ttustees are elected tr) the Board for a maximum period of three AGMS and are appointed by a resolution of its members at an AGM. The Board has powers to co-opt memE*rs. provided that on appointment the total number of co-opted trustees does not exceed one tbird of the total number of trustees. All co-opted trustees must retire by the tbird AGM after their appointment and may offer then￿elveS for election. The Trustee Board has two working committees, the Finance and Genernl Purposes Committee with responsibility for financial managemenl and premises and the Human Resources Committee with responsibility for personnel matters. Including the setting and monitoring of pay & remunerdtion of personnel and key managemeni against industry benchmarks, as well as Health and Safety and safeguarding matters. Other task and fmish groups are set up as necessary. The Board implements its decisions through an executive management committee that consists of the Chief Executive, who attends Board Meetings, and three operational managers, each with an individual area of responsibility, along with the new business developnlent nLanager and the financc manager. The organisatxon is Co-ordinated from its office on Waterloo StreeL BirniinghanL Trustee induellon and tralnlng New tn￿teeS are briefed on th¢ir legal obligations under clwity and Company law, the content of the Memorandum and Articles of Association, the committee and decision-rnaking processes, the busine&s plan, annual budget and recent fmancial perforn)ance of the charity, and the risk register. They also meet key employees and other trustees. Trustees all undertake GDPR and FCA mandated training, they are al%0 provided with annu￿ training and charity updat&8 where these will facililate the understanding of their role. They are also invikd to the full training PTogranllne for staff and volunteers and have access to online training via our national Citizens Advice online portal. Related parties Citizens Advi¢e Birniingham (CAB) is a member of The National Association of Citizens Advice Bureaux (Citizens Advice), the national charity (Charity Number: 279057) which sets oul a framewod( for standards of advice and case rnanagem¢nt and supports local officcs with an inforniation system, training and other services. Dwing the 2023124 fll)an¢ial year payments were made to Citizens Advice to the value of £11,438 (2022123: £10,453) in respect of subscriptions, accountancy support, trdining services, ststionery and sundries. Receipts from Citizens Advice for contracts and grant fi￿dIng totalled £887,954 (2022123.. £834,756). Councillor Gareth Moore is an elected member with Birmingham City Council. During the 2023124 financial year payments were made to Birnjingham City Council of £47,468 (2022123: £93,347} in respect of premises rentals, council taxes and business rntes. Receipts from Birniingham City Council for contracts and grant funding in the year totalled £370,750 (2022123: £346,500). BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'/DIRECTORS' REPORT For the year ended 31 March 2024 STRUCTURE, GOVERNANCE AIYD MANAGEMENT (continued) Background During the peri￿ covered by this repo¢ the UK has been in the grip of the largest cost of living crisis for decades. There has never been a more challenging time for CitizensAdvice Birniingham, both in ternjs of our ability to meet demand for our services and in dealing with the increasingly complex situations faced by our clients. Most of our services are de]iveTed by telephone but we also offer webchat and video calls via a mix of office based aod hojneworking. as well as face-l￿face appointtnents atoutreach locations acro￿ the city. This provides more convenience for our client as well as more efficiency for our staff, both paid and voluntary. Key risks and uneertslnlles Senior managers and tru51c¢s un(krtth an annual review of the business risks for Citi7A]s Advice BIrn]Ingh￿ tsking care to record all Si￿]ficant risks in a risk register. This is monitored througbout the year to ensure there has not been any nmjor change to individual risks. Considerdtion is given to the steps the organisation needs to take to mitigate risk by setting down actions thal can be tsken to reduce the like]thood an(Vor the of an individual risk occurring. The wincipal risk identified by the annual review of busine&8 risks is the uncertainty of ￿tUre fimding. In September 2023, Birmingham City Council (BCC) issued a Section 114 notice, ¢ffe¢tively declaring tR￿selveS banknipL This alerted Trustees to a potential risk if BCC fimditig were to cease immediately. Though BCC has now indicated it will continue to honour any existing contracted commilments, Trustees have undertaken a risk assessment. They have looked at the cuyrent level of BCC funding and concluded that if it werc to ce&se during the coming year thi5 could impact on the organisation's staff and service provision, but that the organisation has sufficient reserves to mitigate any losses thal cannot b¢ tranSf¢￿¢d elsewhere. for ex8mpl¢ r¢d¢ployment of staff to other projects. The situati(In has been further exacerbated by the cost of living crisis and the longer-terni impact on the economy of national and global events, all of which are likely to have a significant impact on the futtwe funding available to Citizens Advice Binningham. It is not anticipated that the uncertain funding environtnent will impmve in the immediate future. In parallel, trnstees continue to look for new funding streams and opportunities to collaborale with others to develop new projects. Citizens Advice Birmingham carries sufficient reserves to meet the obligations of the organisation should no ￿tUre funding be secured and takes sw)s actively io manage creditors to ensure there is a healthy cash flow in the bank. Other key risks are associated with the loss of experienced staff from, or the iT￿l]ity to SucrKssfi￿IY recruit to, key roles WAthin the workforce. To mitigate this risk. the orgatlisation undertakes succession planning by ensurmg that skills are shared, and roles are developed in the team to cover keyposts when required. Training and furtber development is offered where this can help to develop necessary skills. Where we have been unable to appoint to advisor roles, we are incrvdsingly 'growing our own, by appointing to trainee positions. We would like to seek fimding to develop trdinee C￿Orker roles in the future. TnL8tees take seriously the potential risks around inforntstion and dat4 and InfornWion Assuran￿ is another key risk detailed in the orgonisation's risk register. Stsff and volunteers are regularly reminded of their responsibilities around the stordge and handling of data as well &s undertaktng annual GDPR refresher trainiJAg. Citizens Advice Birmingham bas fifftber mitigatcd these risks by investing in its ICT estate. moving its data onto secure cloud stOTag¢ and installing additional verification checks for anyone acc￿]ng dala. Citizens Advice Birmingham gained Cyber Essentials accreditation in September 2023 Trustees The ttustees who l)ave seNfyl during 2023124 Can be srtn on page 3. None of the trusiees have any beneficial interest in the mpany. All the trustccs arc members of the Th)n)￿y and guarantee to contnbute £1 each in the event of a winding up. BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'/DIRECTORS' REPORT For the year ended 31 March 2024 STRUCTU￿ GOVERNANCE AND MANAGEMENT (Continued) Pay and remwieration of senior staff Levels of salary for Senior 8taff and key management personnel a￿ reviewed annually and the Trnsfre Board operates a HR Comnllttee which meets to discu&8 Staffing WDcems d￿)llE the year before reporting back to the Board. Salary leve]s are regularly benCbrna￿ed against comparable organisations. Volunteers We wtTently have 24 volunteers and we are making progress in building a strong volunteer team. which brings the added benefit of proving a wol from which to recruit to vacant paid posts. The majority of the volunteers work on the Telephone Advice Line or as part of the Volunteer Benefits Team. We also have one volunteer working on the energy affordability projecL one who provid&s IT supporL oll¢ who works with th¢ Macmillan Benefits Team and one who carries out campaigns and communication Fundraising activities The Charity had no significant ￿ndraising activities and costs in the year but raised funds from voluntary donations received from regular donors as well as donations received from clients and organisations that are supporting our work. OBJECTIVES AIID ACTIVffIES Citizens Advice Binningham (CAB) has twin aims: Provision of Inf0rn￿tion, advice and advocacy to the people of Bimin8ham' and Influence the development of social p)li¢y to ta¢kle injustice and reduce povety and social exclusion. The free, confidential attd impartial advice servi¢e is provided to the standards set by national Citizens Advice so that clients can understand their rights and responsibilities and thus enable them to make inforned choices about important aspects of their lives. Pollcles The policy that has bcell adopted to achieve the above aims is to follow the guidelines set down by national Citizens Advkce and includes the operation of office alld outreach serviccs within the geographical area. Tbe trustees achieve their aims by: Recruiting and training a local diversity of volunteers. Sustsining and assisting charitable b￿leeS by providing leams of managerial, athninistrative and specialist staff. Raising income by negotiating funding agreements widl various bodies, and obtaining donations and income from other b) d) Incurring expenditure, acquiring assets, entering into le&8es and other trdnsactions such that the service can operdte to a high stsndard in an efficient manner; and Controlling f￿￿1claI operations on a year-by-year basis by the appropriate use of a Business Development Plan and an Annual Budget. The cljarity also operates Health & Safety and Equal Opportunities policies for the benefit of all who Come into contact with the organisation. BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'IDIRECTORS, REPORT For the year ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (eolllfinued) HOW OUR ACTIVITIES DELIVER PUBLIC BENEFTT Citizens Advice Birniingham provides advice to clients across Binningham from lo¢ations including: Various Health Units within primary and secondary care settings Hospitals Job Centres, libraries, coiiiniiinity centres HMP Birniingham County Court Welfare Office Citizens Advice Birmingham provide8 inforn]alion and advice on a wide range ofissues to those living or w0￿]ng in the Birmirgham area. We provide public benefit through our services which are free, confidential, independent and Imparti￿ to anyone using them. Below we set out iti niore detail how we have provided tbese seNices over the1&8t year. The Board of Trustees h&8 had due regard to the ChaTity Commission guidance on public benefit and has complied with the duty in 8￿tIOn 4 of the Charities Act 2011. ACHIEVEMENTS AND PERFORMANCE During 2023124, Citizens AdvicL Birmingham delivered high qualty, targetel free advice to 16245 clients with 102,135 issues - an average of 6.3 i&￿eS per client (up from 4.4 issues per client in 2022123) which is a strong indication that people's problems are Etcoming more complex than ever. During the year ourwoTk resulted in total income gains foT our clients of £20,913249. The Generalist Advice Service assisted 9,661 clients Ivith 67202 issues. Our Universal Credit: Help to Claim Team achieved additional benefit inwme of £2.7 million for Clients and our Macmillan Benefits Team helped clients living with callcer to access over £12.5 million in welfare benefits. The Debt Team dealt with £6,822,962 wortb of debl of which 40 % was priority debt and the remaining 600/0 was non-priority debt, Debts V￿Itten off, whicb included Debt Relief Orders and write offs, totalled £785,769 and repayments negotiated, which included Debt Management Plans on clients, behalf and token offer payments, totalled £501,404. During the same perioLL our County Court Wekn Office deali with £2,790,400 worth of mortgage arrears and £1,777,651 of rent arrears. 810/0 of the clients we represented at court hearings were able to avoid repossession. Citizens Advice Birniingham regularly seeks feedback on its perforniance from clients. ov￿all, the vast majority of our cjients rated their experience of our service as positive or very positive. 9W/o of clients who were sUPPOrted by our Macmillan Benefits Team told us that they were satisfied or very satisfied with the service they received. 860/0 were less worried about their finances and 86 %, said that our assistance had helped to reduce their stress or anxiety. Of tbe Clients assisted by our Wellbeing Team, 941 said they were satisfied or very satisfied with the help they had received. All this could not have been achieved without the hard work and dedication of our stsff and volunteers, and the tn]8tee board thanks all volunteers and staff for their hard work and conunitment duritig another ¢I￿llenging 12 montbs. We Continue to work in parts]ership with other agencies including other local Citizens Advice, By keeping in touch with developments within local Citizens Advice from around the county we have been able to share experiences, lessons learned and new ways of doing things. We also continue to work with other Birmingham-based advice and support orsanisatlOnS to provide the best services we can to the citizens of Birningham. In sumrnary, whilst the operating environment continues to be difficulL demand is increasing and need is ever more cojnplex. Citizens Advice Birniingham has consistently aimed to ensur¢ its services r¢a¢h as many of those people who need help as possible with the r￿UrceS available. BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'IDIRECTORS, REPORT For the year ended 31 March 2024 REVIEW OF FLYANCIAL posfTIoN L)Luing the 2023124 fllwicial year CAB delivered a fllLgnciai sU￿lUS of £66,604 (2022123: fmat)¢ial surylus of £143282). This SUTpIus arose prin￿lY dye to increased funding to provide Cost of Living advice, and salary savings resulting from slow recruilment into vacantpositions. Income increased to £2,137,584 compared to £1,869,645 in 2022123, wbileoverthe sameperi(xl expenditure increased to £2,070,980 from £1,726,363 in 2022123. Jncome was b(K)Sted by the commencement of new projects, whilst expenditure includes the cost of our office relO￿tIOn. Expenditure on fixed &8sets capitslised during the year amounta to £N￿ (2022123: £NIL), in congruence with our capitslisation policy. Fi¥ed assets are used for ¢haritable pll4)o￿ and enable staff and volunteers to provide an optimum service to the public. There is an end of year restricted fundbalance of £76,110 (2022123: £42 J39). Mainly accounted for by £34,948 for NHS project& and £6,733 for The Henry Smith projecL £11,187 left for the Alzheimer's project. The funds are expected to be spent by March 2025. Restrl¢tlon$ and Investment Powers The Memorandum of Association authorises the charity to receive income by way of granls, donations, gifts and legacies provided it does not undertake any pernlanent trading activities in raising fimds for its primary objectives. The Memorandum of Association authorises investtn¢nt of surplus monies not immediately required. subject only to conditions and consents imposed by law. Reserves Policy The Trustee Board reviews and updates its reserves policy arjnually to ensure its compliance with Clwity Commission best practice. This requires reserves to be available to cover ￿tllre contingencies and liabilities. The Reserves Policy requires at least three months, expenditure to be held as unrestricted designated fimds, equating to £545,692 at budgeted 2024125 expenditure levels. The Charity also has a designated fund of £225,000 for tangible fixed assets (investments) and a fi￿ther £270,000 for other designated funds, the breakdown of which can be seen in Note 20 on page 27. The unrestricted and undesignated general free reserves at 31 MaKh 2024 are £147,080 (2023: £145,747) after designating reserves of £1,040,692 (2023: £1,009,193). Restricted reserves at the end of tbe year amount to £76,110 (2023.. £42,339). Golng Concern The Charity reported a cash outflow of £113,920 for the year as debtors were significantty lower at year end, the Charity expects to make an smaller outllow in 2024125. After making further appropriate enquiries, together with our reserves and expenditure control, the trustees have a reasonable expectation that the company has adequate resources to Continue in operationa] existence for the twelve months from the date of signing this report. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Polltl¢al Donations No donations of monies or donated go()ds were made to any poh'tical parties or political Campaigns in the year (202314: £ML). BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'IDIRECTORS, REPORT For the year ended 31 March 2024 FtrruRE PLANS Overall, funding continues to be short tenn and uncertain and is l]Trely to remain so for some years to come, which makes longer tern] planning difficult. The Trustee Board recognises this, and its commitment to diversify its search for other fullding includes seeking opportimities to work with other local Citizens Advice and other partners to collaborate on projects and share costs where possible. With traditional sources of funding looking less se￿￿¢, it is our intention to to seek a new fUlld￿ or new partnerships from a broader base, considering our clients. needs. CAB will offer its 'mainstream' access to our service by the most eificienl mean which remains the telephone- acTOSS all our projects when clients express a chanllel preference it is for phone services. Alongside tbe phone service we will continue to offer some Ill-pe￿on support for clients who need it via funding arrangements with pa￿eTS a]ready working with the client group. CAB WAll seek to larget services at those pei)ple who are identified as being in greatest need. We will also seek to design services around clients at points where they are undergoing life changing events. for example a relationsbip breakdown, a cancer diagnosis, a threat of eviction. This approach already describes some of our most successfid projects such as our Macmillan Welfare Benefit Service and our duty scheme at the ¢QUllty Court supp)rting clients at risk of eviction. We have also started to develop a service working alongside l(Kal partners to support particularly vulnerable women who are at iisk of being taken into the CTiminal justice system if they are not supported witb appropriate interventions. Our initial work has been funded by an iJJnovation fuad from national Citizens Advice, and it has demonstrated that there needs to be a different approach to delivering services for some clients- an approach which is slow and intensive but should have longer I￿ting impacts. This will require more staff than the single advisor we currently employ to fully dev¢lop this service. It is a priority for CAB to secure funding for more advksors and for a longer tenn commilment to this client group. Over the last year OT more we have also built on the successes of our longstanding services such as our debt service, where we have now added two qualified energy advisors to the team. We have also worked with Alzbeimer's Society to develop a phone service for their clients shaped by our Macrnillan Service experience. Both of these new developments indicate that we can widen our reach with new partne￿bIpS and new fiLnding. We are ajso in discussions with a local hospital to provide an advice service to patients with a sxckle cell condition. We will continue to use our knowledge and networks to consider other sitnilar developments in futyre. Much of this work will be underpinned by our long tern) commiiment to working with volunteers. This is crilical to CAB'S success both through the direct contribution that volunteers make to our work and also by providing a pipeline of people who are seeking work and can be recruited into our paid workforce. This means recruiting both volunteers who are seeking work, and those who are not and who we can retain long terni. The fundthg for our volunteer training and developtll¢nt officer runs out this year, but we will seek to renew this ￿nding as workfor¢e shortages across the advice sector makes this process of 'growing our own, an essential part of ensuring we have e a skilled and knowledgeable WOTkfoTce. We will also seek additional fvllding to employ another volunteer supervisor as this will ellable us to expand our phone service. We will continue to utilise teGbnology both to promote ours¢lves to fimders and to support more clients where po&sible. We will renew our website to ensure a more attractive web presence for clients. potential filndcrs, co￿orate sponsors, and job candidates. We will also work with otber local Citizens Advice andnational Citizens Advice (CA) to barness AI where it can make our r&sou go fiuther. The priorities laid out below cover a wide range of challenE¢S and opportunities in the next year and beyond: Continue to provide the people of Birniingham with high quality and accessible services Take steps to set our fjllances onto a more sustainable footing by continuing to seek new funding opportunities, having a more diverse ￿lldIng base and managing our costs Have the apprnpriate infrastructure to Provide high quality Services to our customers and ensure e￿1¢lellt ntsnagemenl of th¢ orgauisation Further develop our telephone and digitsl offer to ensure we reach &$ many clients as possille within QUT Jimited resources Raise the profile of Cilizens Advice Birmingbam with clients. fimders and tbird parties Use our dats to analyse and research issues to campaign for the benefit of our Clients and the wider comrnunity Explore collabordtive working with other I￿al Citizens Advice. particularly in the West Midlands region, in other Core Cities and with other third sector agenci Utilise reserves in line with policy. BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED TRUSTEES'IDIRECTORS, REPORT For the year ended 31 Mareh 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsi￿1¢ for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company aud charity law requires the trustees to pryare f]nancial statements for each financial y¢ar. Under that law. the directors have elected to prepare the financial statements in accordallce with United Kingdom Generally Accepted Accounting Prdctice (United Kingdom Accounting Standard8 and applicable law). The fllLqncial statements are required by law to give a In￿ and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those fmancial statements, the trustees are reAwired io: a) select suitable accounting policies and apply tbem consistently b) observe the methods and principles in the Charities SORP c) make judgements and estin￿leS that are reasonable and prudent d) stste whether applicable UK accounting standards have been followed, subject ￿ any material departures disclosed and explained in the fllwicial statements e) prepare the fmancial statement on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible forkeeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitsble company and to enable them to ensure that the fjnancial statements Comply with the requirements of the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the COTporate and financial inforniation included on the charitabl company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS The direGtOT8 who were in office on the date of approval of these financial ststements have confirn1e￿ as far as they are aware, that there is llo Telev8nl audit infOrn￿tiOn of which the auditors are unaware. Each of the dire¢tors have confimied that they have taken all th6 steps thai they ought to have taken as directors in order to make the￿￿1VeS aware of any relevant audit infonnation and to establish that it has been cou￿unIcated to the auditor. This report has bccn prq)ared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Clwities, preparing the accounts in accordance with the Financial Reporting Standard applicable in the United Kingdon] and Republic of IrelAnd IFRS102) and the Charities Act 2011. Auditors The auditors, CKCA Limited, have indicated their willingness to continue in office for the ensuing year. The Trnstees, re ort was approved by the board, authorised for issue on 31 July 2024, and signed on its behalf by: Liam Brooker Chair 10 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED Oplnlon We have audited the f]nancial statements of Birmingbam Citizens Advice Bureau Service Limited (tbe 'charitsble company,) for the year ended 31 March 2024 which comprise of the statement of fmancial activities, balance sheet, cash flow statenient and notes to the fllwicial statements, including a summary of significant accounting policies. The f]nancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Repubjic of Ireland" (United Kingdorn Generally Accepted Accounting Practice). In our opinion the finan¢iat statements: give a true and fair view of the state of the charitsble company's affairs as at 31 March 2024, and of its incoming Tes(M￿ceS and application of T￿Ources, including its income and expenditure. for the year then ended. have been properly prepared in accordance with United Kingdom Genernlly Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on AuditiDg (UK) (ISAS (UK)) and applicable law. Our responsibÉlities under those standards are further dewibed in the Auditor's responsibilities for the audit of the fmancial statements section of our report. We are independent of the clwitable company in accordance with the ethical requirements that are ttlevant to our audit of the fman¢ial statements in the UK, including the FRC'S Ethical Standarl and we have fulfilled our other ethical responsibilities in accordance with these requiren]ents. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a b&8is for our opinion. Conclu$lon8 relatlng to golng concern tn auditing the f￿anCial statements, we have concluded that the trnstees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. B￿d on the WOTk we have performed, we have not id¢ntifi¢d any material uncertainties relating to events or conditions that, individually or collectively, may cast Si￿lfiCant doubt on tbe charitable company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of thc trustces with rcspcct to going concern are described in the relevant Sections of this Teport. Other Informadon The trustees are responsible for the other infornlation The other infornLqtion comprisa3 the inforn]ation included in the report of the trustees, other than the fmancial statement5 and our auditOT'S report thereon. Our opinion on the fmancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our reporL we do llot express any forni of assurance conclusion thereo In connection with our audit of the fll]ancial state]nents. our responwTr)ility is to read the other infOrn￿tiOll and, in doing so, consider whether the other infOrn￿tiOn is materially inconsistent with the finallcial statwnents or our knowledge obtsined in the audit or otherwise appears to be materially n]i&stated. If we identify such material inconsistencies or apparent material misstatements., we are required to determine whetheT there is a material misstatement in the fmancial statements or a material misstatement of the other ijrfonnation. If, based on the work we have perfOnne￿ we conclude that there is a material misstatement of this other inforniatio we are requirnl to report that fact. We have nothing to report in this regar 11 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRMllNGIL4M CITIZENS ADVICE BUREAU SERVICE LIMITED (COI¥4T.) Opinions on matters prescrlbed by the Companies Aet 2006 In our Opinio￿ based on the WOTk undertaken in the course of the audit: the inforn)ation given in the report of the trnslees {incoryorating the directors, report) for the financial year for which the financial tstatements are prepared is consistent with the financial statements" and the trustees. report has been prepared in accordance with applicable legal requirements. Matters on which ive are required to report by exceptio In the light of our kllowledge and understanding of the chaTitable company 8nd its enviromnent obtained in the COUTse of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matter8 in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kepL OT returns adequate for our audit have not been received from branches not visited by us. or the fu￿ncial statements are not in agreement with the accounting T￿OrdS and returns. or certain disclosures of trustees, remuneration specified by law are not rnade; or we have not received all the inforniation and explanalions we require for our audit. or the trustees were not entitled to prepare the financial statements in a￿ordanCe with the small companies, regime and take advantage of the small companies, exemptions in preparing the Report of the Trustees and from the requirement to prepare a strategic report. Responsibilitie$ of trustees As explalned more fully in the tnLStees' responsibilities statement set out on page l O, the trustees (who are also the directors of the haritable company for the purposes of company law) are responsibl¢ for the preparation of the financial statements and for being satisfied that they give a tsue and fair view, and for such internal control as the trustees delerniine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the fmancial ststements, the trustees are responsible for assessing the chaTitable company's ability lo continue as a going concem, 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. Auditor'$ responslbllilies for the audit of the financial stalements Obj￿tiveS are to obtsin reasonable &ssutznce about thether the kncial statanents as a whole are free from material misststemenL whether due to fraud or error, and to issue an auditor's rerx)rt that includes our opinion. Reasonable assurance is a high level of &8sufdnce but is not a guarantee that an audit condu¢ted in accordan￿ with ISAS (UK) will always detect a material mi&8tstemenl when it exists. Mi>atemenis can arise from fraud or error and are consideted mataial if, individually or inthe aggregate, they could re&8onablybe ￿X￿ted to intluence the ecI)n￿C decisions of users taken on the basis of these finallcial statements. The extentto ￿lch ourprokn are capable of detethi￿ inwkn'e4 including fraud L8 detsiled below. Extenl to wbich the audit was considered capable of detecting irr￿u￿rAtieS iDcluding fraud We identified and assessed the risks of material misstatement of the fmancial ststements, in respect of I￿egulaTItieS whether due to fraud or error, or non-complianc¢ with laws and regulations and then designed and perfornied audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for OUT opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-¢ornplian¢e with laws and regulations, our procedures included the following: We obtained an understanding of the legal and regulatory frameworks that are applicable to the Company by discussion and enquiry with the directors and management team and our general knowledge and experience of the charity sector. 12 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED IIYDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED (CONT.) Audltor's responsfibllltles for the audlt of the finantial ststements (conL) We focused on specific laws and regulations which we considered may have a direct materlal effect on the fmancial ststements or the operdtions of the company, including the Companies Act 2006, taxation legislatioffj data protection. en]ploymenl and health and safety legislation. We assessed the extent of Compliance with the laws and regulations identified above through making enquiries of managemenL reviewing correspondence with relevant regulato￿. Audit response to ri5k5 identlfled We assessed the susceptibility of the Company's fmancial statements to material misstatement, including how fi7ud might occur. Audit procedures perfon]]ed included but were not limited to: DIscu￿10nS with director8 and rnanagcment as to where they considered there was susc¢ptibility to fraud, their knowledge of actual, suspected and alleged fraud. Confirming our understanding of controls by wforniing a walkth￿llgh test or observation and enquiry. Perforn]ing analytical procedures to identify any unusual or unexpected relationships. Identifying and t¢sting journal entries. Agreeing fi￿dIllg to underlying service agreements and ensuring in¢ome is recognised in the correcl period. Agreeing classification of funding between ￿StrIcted and unrestricted funds and ensuring amounts are spent for the purposes intended. Reviewing the allocation of direct and support costs and ensur1￿ comparable to previous petkods. Reviewin8 unusual or unexpected transactions. and Agreeing the fllwicial statement discjosures to underlying supporting documentation. Owing to the inherent limitations of an audit, there is an unavoidable risk thatwe may not have detected 50rne matsyial misstatements in the fllmncial statements, even though we bave properly planned and perfomied our audit in accordance with auditing standards. The more removed that laws and r¢gulations are from fJnaDcial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal Correspondence, if any. Material misstaten]ents that arise due to fraud can be harder to detect than those that arise from error a5 tbey may involve deliberate conceaIment or collusion. A thrther description of our responsibilities is available on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilities. This description fornis part of our auditor's r¢port. Use of our report This report is made solely to the charitable company's members, as abody, in accordance with Chapter 3 of Part16 ofthe Companies Act 2006. Our audit work has been undertaken so that we migbt state to the charitable company's members those matters we are required to state to them in all auditor's report and for no other purpose. To the fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's membeTS as a boty, for our audit work, for this report, or for th¢ opioions w¢ hav¢ forni¢d. Mark Nicholls FCA Dior Statulory Auditor for and on behalf of CK Audit 31 July 2024 Chartered Accountants Statutory Auditor No. 4 C&8tle Court 2 Castlegate Way Dudley West Midlands DYI 4RH 13 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED STATEMENT OF FINANCIAL AcfJvITIES (Including income and expenditure account) For the year ended 31 March 2024 Unrestrleted Restrieted Funds Funds Total Unrestricted Restricted 2024 Funds Funds Total 2023 l%ote Ineome from: Donations and legacies Charitabl¢ a￿1vitieS Activiti￿ ft)r generating fimds Investments 1,986 896,798 1,978 36399 7565 820,905 2,912 24,014 7565 986,274 1,807.179 27,975 30,887 24,014 1,175.069 25J54 2,071067 27J32 36J99 Total Income 937,161 1,2(M),423 2,137W4 855,396 1.014249 1,869,645 Expendlture on: Charitable activities Other expenditure 763024 69,484 1,206,276 31J96 1.970,100 IIJO,880 720,861 369 979,550 1,700,411 25.583 25,952 Totsl expendilure 833J08 1.237,672 2.070,980 721230 1,005,133 1,726,363 Net incomel(expenditure) before Éransfer 103,853 (37,249) 6fj604 134,166 9,116 143,282 Transfers between funds 20,21 (71,020) 71,020 (4,713) 4,713 Net movement in funds 32,833 33,771 66,604 129,453 13,829 143,282 ReeonciliAtion of funds: Total funds brought forward at 01 April 2023 1,154,939 42J39 1,197,278 1,025,486 28,510 1,053,996 Total funds carried forwY4rd at 31 Mareh 2024 1,187,772 76,110 1,263,882 1,154,939 42,339 1,197,278 The statement of fmancial activities includes all gains and losses in the wrrenl and comparative year. All income and eX￿}dItUre derive from continuing activities. The not&8 on pages 17 to 32 forn] part of these fllwicial slatements. 14 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED BALANCE SHEET As at 31 March 2024 2024 2023 Note Fixed assets Tangil)le assets Investments 14 14 225,000 225,000 225,IKMI 225,000 Current assets Debtors Cash at bank and in hand 15 26 31MI,645 939A94 309,083 1,053,514 1240239 1,362J97 IJabllitie8 Creditors.. amounts falling duc vjilhin one year 16 (121,357) {310J19) Net current assets 1,118082 1.052,278 Total assets le88 current Iiv4biJities IJ43W2 1277,278 Provtslons for lfiabilities 19 (80,0(KI) (80,000) Total net assets 1,263,882 1,197278 Funds of the charlty Unrestricted fimds: General fimds Designated Revaluation reserve Other Designated fim(Ls 20 147,IA80 53J57 987,135 145,746 53,557 955,636 1,187,772 1,154,939 Restricted funds 21 76,110 42,339 Total ¢harlty funds 22 1,263,882 1,197,278 The fllwicial statements for registered Company number 02202427. have been prepared in a¢¢ordancc with the prnvisions applicable to companies subject to the small companies, regi]ne and in accordance with the provisions of FRS 102 Section IA - srnall entities. accounts were approved by the Board, authorised for issue on 31 St July 2024 and signed on its behalf by, Liam Brooker The notes on pages 17 to 32 forni part of these fu￿1¢la] slatements. 15 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED CASH FLOW STATEMENT For the year ended 31 March 2024 Note 2024 2023 Cash flows from operating activiti￿. Net cash provided by operating aetivities 25 (150J19) 66.068 CAsb flow5 from investing aetivities: Dividenits, interest and rents from inveslments 36J99 24,014 Net cash provided by investing actlvldes 36399 24,014 Incre&se l (decrease) in cash and cash equivalents in the reporting period (113,920) 90,082 C&8h and cash equivalents at the beginning of th¢ rq)orting period 1,053,514 963,432 Cash alld cash equivalents at the end of the reporting period 26 939,594 1,053,514 The notes on pages 17 to 32 forni part of these financial statements. 16 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Ch2rltabk Company Inforn]adon Binningham Citizens Advice Bureau Service Limited is aprivate limited clwitable company. limited by gUa￿lltee, bynot having Share capital incoryorateo and domiciled in England & Wales. The registered office is First Floor Wellington Hou8e. 31.34 Waterloo streeL BiTmiDts, B2 5TJ and the Company registration number is: 02202427. Aeeounting Policies Basts of preparadon The fllMn¢ial statements have been PTepared in accorda￿e with Accounting and Reporting by C1Larities: Ststement of Recommended Practice applicable to charities Prepari￿ their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {efftctive l January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in tbe UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Birniingham Cilizens Advice Bureau Service Limited meets the defmition of a public benefit entlty under FRS 102. Assets and liabilities are recogniscd at historical cost or transaction value Ullless otherwise stated in the relevant accounting policy. The financial statements are prepared in Ster]ing and rounded to the nearest £1. Fund a¢¢ounting Genernl funds are unrestricted funds which are available for use at the discretion of the trustees in furtbeTance of the general objectives of the company and which bave not been designated for other purposes. Designated funds are unrestricted fimds earnjarked by the trustees for particular pury)oses. Restricted fi￿d8 are funds which are to be used in accordan¢e with specific restrictions imp08ed by donors or which have been raised by the company for particular purposes. The costs of raising and admini$Èring such funds are charged against the specific fimd. The aim and use of each restricted fund is set out in the notes to the fllwicial statements, 13 Ineome All income is inch￿ed in the slatement of financial activities when the charity As entitled to the funds and the amount can be measured with r¢&80nable certainty. Income is deferred only when the chaity has to fulfil conditions before bewming entitled to it or WI￿re tbe donor has specified that the income is to be expended in a futLWC period. Voluntary income is received by way of grants, donations and gift4 including gift aid income where applicable, and is ]￿luded in filll in the statement of fllwicial activiti￿ when re¢etvable. Income from govemment and other grants, where related to perforn￿l¢¢ and specific deliverables, arc accounted for when it IS Probable that the income will be received and the amount can be measured reliably and is not defeffed. Donated services and facilities are included at the value to the cl)arity where this can be qLwTrtified aud 18 material The value of services provided by volunteers has not been included in these accounts. Interest re¢¢ivable Intert8t on funds held on deposit is included when receivable and the amount can be measured reliably by the company. tbis is nornially upon notification of the interest paid or payable by the bank. 17 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting Policies (eonthiued) Resources expended Expenditure is recognised on an accrual basis as a liability is incufft being a registered chaTity with minimal trading income, has been granted exemption from t&x under Section 505 of the Income and Corw)ration T&xes Act 1988. No provision for taxation has therefore been made in these accounts. Tangible r￿ed assets and depreelatlon All assets individually costing more than £5,000 are capitalised. Tangible ￿ed assets other than freehold landare stated at cost less depreciation and any accumulated impairnleni losses. Depreciation is provided at rdtes calculated to ￿lte off the cost of each a&set over its expect￿ uthl lif4 as follows: Equipment Furniture 20 /0 on the sti7ight ]ine methi)d 200/0 on the straight line method Investmenl property Investment property is initially recorded at cost. which includes purchase price and any directly atlnl)utable exF¢nth'tllre. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised as income or eXt￿ndIt￿re. i.io Debtors Trade and other debtors are recognised at the settlement arnount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and sbort tem) highly Itquid investmenis with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 18 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Aeeounting Policies (eontlnued) 1.12 Credltors alld provision 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 paty and the amouni due to settle the oblÈgation can be measured or estimated reliably. Creditors and provisions are norn￿llY recognised at their settlement amount after allowing for any trade discounts due. 1.13 Pensions and retirement benefits The charity operates a defined contribution scheme. The amount c￿ged to the statement of financial activities in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contnbutions actually paid are sbown as either accTuals OT prepajinents in the balance sheet. 1.14 Financial instruments The charity only enters into basic financial instruments transactions that result in the recognition of fllwicial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts re￿1vable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the eff￿tive interest method. Finan¢ial assets and liabilities are offset and the net amount reporta in the Balance Sheet when there is an 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 simulÉaneously. 1.15 Judgements In YdpplyAng aceounthig polleles and key 8ouree8 of estimvdtion uneertalnty In preparing the Financial Statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available inforn]ation and application of judgement are inherent in the forniation of estimates, together with expectations of future events that are believed to be reasonable under the CircUn￿tance8. Actual results in the future could differ from such estimates. Investment ro - The trustees have evaluated the value of the property at the year end. They have based their valuation on valuation GaThied out by Charlotte Fullard MRICS on 20 November 2018. The directors consider that there are no significant areas of key judgement or estimation uncertainty other than those identified in the accounting ￿licieS above. 1.16 Going con¢ern After making fiwther appropriate enquiries, together with our reserves and expenditure control, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the twelve months from the date of signing this rern For tbis reason, they contitiue to adopt the going Co￿ern basis in preparing the fjnanoial statements. 19 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Donations and legacies Unrestricted Restrleted Funds Funds Total 2024 Total 2023 Donations and gifts 1.986 1,986 7,565 Income from eharltable Vdclfvltles Grants and eontract Income re¢eivable for charltable aetlvlty- advlce and informatlon Unrestricted Restricted Funds Totsl 2024 Total 2023 Gelleral Advlee: Birmingham CC- Advice Service Birmingham & Solihull NHS Universal Support- Help to Claim The Henry Smith Clwity Cadent Foundation Energy Saving Trust BArmingham Women & Chilthetk8 NHS Other grants 344,062 344,062 187252 281,632 49,250 43,117 37,958 42,764 48,441 272,500 160,296 302,057 48,250 7,084 21,198 14,138 187,252 281,632 49,250 43,117 37,958 42,764 47,229 1,212 345,274 689,202 1,034876 825,523 Debt Advice: Money Advice Service: Debt Advice Community Law Partnerslll'p {CLP} Other grdnts 503,017 48J07 503,017 48￿07 491,902 50266 551,524 SS1,S24 542,168 Benefit Advice: Binningham CC - Mental Health Macmillan Cancer Support Alzheimer's 37,000 365A98 83J69 37,000 365,498 83,369 74,0(K) 365,488 485067 485,867 439,488 Total ineome from eharltable actlvltley 896,798 1,175,069 2,071,867 1,807,179 20 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINAIYCIAL STATEMENTS For the year ended 31 Mareh 2024 Activities for generating funds Tot 2024 Total 2023 Funds Funds Other income 1,978 25054 27J32 30,887 1,978 25J54 27J32 30,887 Investments UnrestrA¢ted Restrieted Funds Funds Total 2024 Total 2023 Jnterest received. tnv¢stment propety rental income 21,155 21,155 15244 9,581 14,433 36J99 36,399 24,014 Expenditure on charAtable activities by fund unrestri￿ Restrfieted Funds Funds Totsl 2024 Total 2023 General Advice Debt Advice Benefits Advice 246,411 517,413 708,125 954,536 517,413 498,151 750,450 513,571 436,390 498,151 763024 1,206,276 1,970,100 1,700,411 21 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENrs For the year ended 31 March 2024 Analysis of expenditure on eharitable activities Basis of Allocation Ceneral Advice Debt Advice Benefits Advice Total 2024 Totsl 2023 Direct eosts: Saknies and wages Direct Staff and volunteers Direct Office costs Direct Premises costs Direct Other costs Direct 698,877 5,722 554 389J32 1,419 900 375,226 2.636 162 1,463,435 9,777 1,616 1240.540 5.770 16,011 602 365 705,755 391,651 378,024 1,475,430 1,262,750 Support eosts: Salaries wages Staff and volunteers StafflHrs Office costs Premises costs Governance costs Other costs 73,996 1887 93,031 72,694 5,454 719 37J19 1,462 47,087 36,789 2,746 359 35,792 la98 44,974 34,987 2,641 335 147,107 5,747 185,092 144,470 10,841 1,413 134222 5.129 157.572 124.551 14.994 1,193 StafflHrs StatVHrs 248,781 125,762 120,127 494,670 437.661 Total expendlture on eharltable aetlvltles 954036 517,413 498,151 1,970,100 1,700.411 Other expendlture Unrestricted Restricted Funds Funds Total 2024 Total 2023 Investment property expendilure CEO Fonlln Other expenditure O￿lCe Relocation 1,433 1,433 11,954 19,442 6&051 369 12,881 12,702 11,954 19,442 68,051 69,484 31J96 100,880 25.952 2024 2023 Net Ineomfing resources for the year This is ststed after charging Operdling leases- land and buildings Auditor's remuneration: Audit Depreciation and Impairnent Charges 130,293 91,819 8,967 8,700 22 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 io Trustees During the Current or previous year no remuneration or benefits for services as a directorltrustee bave been paid OT were payable, directly or indirectly, out of the fLJnds of the charity to any trustee or to any person known to be connected with them. Reimbursement of travel and incidentsl expenses to the trnstees came to £Nil during the year to 31 March 2024 (2022123: £Nil). Expenses related to ￿StS of Trustees, meetings inchlding the AGM totalled £1.382 (2022123.. £731). li Employees 2024 2023 FTE Number 2024 Head Count 2023 Number Count Number of employees The averdgc number of employees, at￿lysed by fimction was., Advice workers and support staff K¢y management peTsoJmel 43 37 47 42 48 41 S2 46 2024 2023 Employment costs Wages and salaTies Social security costs Pensions Costs 1,419,196 126,184 65,161 1,202,743 113298 58,721 1,610J42 1,374,762 No employee received remunerdtion anLounting to more than £60,000 in the period (2022123: ML) The key management personnel of the Charity comprise the Chief Executive Offlcer, three Operation￿ managers and a fllwice manager. The total employee benefits of the key managem¢nt personnel of the Charity were £236,175 (2022123: £187,745). During the CUTrent or previous year no remuneration or benefits for 8ervi¢es as a director/trustee have been paid or weTe payable, dire¢tly or indirectly, out of the fimds of the clwity to any trnstee or any person known to be connected with them. 23 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Mareb 2024 12 Pensions There is a defined contribution pension scheme for enwloyees. The basis for a]l(Ka1ing the employer expense between activities is b&8ed on the salary cost of staff working on that activity. The charity automatically enrol eligible jobholders into a qualifying scheme in accordance witb pensions legislation. The assets of the scheme are held sq>arately from those of the cOm￿Y in an independently athninistered fLmd. The fimd is a Group Personal Pension Scheme with Standard Life. The pension cost charg¢ f()r the y¢ar rq)r¢sents contributions payable by the clwltable company ￿ the fi￿d and amounted to £65,161 (2022123.. £58,721). The cost of the pension is allocated to each individual project within whith an employee works. At the year-end £10,553 was owed to the wion ￿herne (2022123: £8,199). 13 Volunteers The Trnstee Board and Senior Management Team recogntse the tremendous contribution made by our volunteers without whom the service could nol operate. While the rnajority of our volunteers are based within the telephone advice service, we also have volunt¢¢rs staftfmg the volunteer benefits team, providing IT and admin support, contributing to research and campai￿8 work, and workin¥ within our energy and Macmillan contracts. We Continue to develop OUT vohmteer offer and ate woTkn￿ oll a strategy for the Cxpa￿l0￿ of the volunteer team to staff our telephone advice line, and support other current and emerging nceds of thc business. 14 Ftsed A55ets InvestrneJ)t Propertles Equlpment Furniture To¢AI Cost At 31 Mawh 2023 225,(M)O 32.550 10,589 268,139 Al 31 March 2024 225,000 32,550 10,589 268,139 DepreelAdon At l April 2023 32,550 10,589 43,139 At 31 March 2024 32,550 10,589 43,139 et book value At 31 March 2024 225,000 225,000 At 31 March 2023 225,0(X) 225,000 The prnperty at Tyseley was transferred from freehold property to investment propety, after the property stopped being used as an office and becatne tenanted on 19 December 2018. The caTrying value of the freehold propety was transferred at this date. The investment propety was revalued by the trustees to its fair value based on a valuation Carried out on 20 November 2018 by Charlotte Fullard MRICS of Lambert Smith and Hampton which resulted in an increase in value of £53,557. The trnstees do not believe the fair value to have ¢l]anged significantly since that valuation. BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 15 Debtors 2024 2023 Grants receivable Prepayments Accrued income Other debtors 177,482 32,840 74556 11.767 196,432 31,140 81,511 31)0,645 309,083 16 Credltors: amounts falllng due within one year 2024 2023 Trnde ￿￿lÈorS Social security co*s Pensions ACcn￿8 Deferred income Other creditors 4135 132JOI 37.728 8,199 67,085 65,006 IOA53 61248 44203 218 121J57 310,319 17 Deferred income Deferred income comprises of i￿ome received for the following proJ￿ts for whiclL pcrforn]ance is expec*d in the following year. totalling £44,203 in 2024 (2023: £65,006): Mental Health NHS Project Others Balance as at 01 Awil 2023 Amount rele&sed to income earned Amount deferred in year 3,700 61,306 {61,306) 8,431 32,072 Balance as at 31 March 2024 3,700 32,072 8,431 25 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 Marcb 2024 18 Flnanelal lllstruments 2024 2023 FinallciAI assets Fi1￿CIal assets measured at fair value through profit & lo&s: . Cash at baDk and in hand Financial assets that are debt instsillnents me&sured at amortised cost - Grn)ts receivable - Accrued income 939,594 1.053,514 177,482 78,556 196,432 81,511 1,195,632 1,331,457 Flnanelal Ilabllfitles Firtaticial liabilities measured at amortised cosl: - Trdde creditors - Taxation and.8ocial security costs - Pensions - Accruals - Other creditors 5,135 132.301 37.728 8,199 67,085 10,553 01,248 218 77,154 245,313 19 Provision5 for liabllities 2024 2023 Dilapidations on leased premises 80,000 80,000 The dilapidations cost is payable as follows: Within one year BetweexA one and two years Between two and five years After five years 80,(KIO 80,000 80,000 80,0(K) Movement In prO￿810n$ 2024 2023 Dilapidations provision brought forward tncrea8el(d￿rea8e) in the year 80,IKIO 80,000 Provlslon carried forward 80,000 80,000 An increase in the dilapidations provision was made in 2016117 after a dilapidations review w&8 undertaken on 08.05.17 by Pollie Jelf8 fvIIUCS of Fusion Building COnsulL￿¢Y Limited. The expenditUTe is expected to incur during 2024125. 26 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 20 Ullrestrlleted funds Balance at 01 Aprll 2023 Transfer Between Funds Balance at 31 March 2024 Incomlng resources Resources expended General funds Designated funds: Reserves policy Designated funds: Redundancies fund Designated funds: Inveslment property Desigllated fiuLds.' Properties Improve￿ellts Desigllated funds: IT improve￿¢￿tS 145,746 514,193 150,OLK) 225,000 100,000 20,000 937,161 (833,308) (102,519} 31,499 147,080 545,692 150,000 225,000 loo,000 20,000 Total Unrestricted funds 1,154,939 937.161 (833,308) (71.020) 1,187,772 There is a designated fund of £225,000 for the investment propety at Tyseley {2022123: £225.000) as this amount is not readily available to spend on the cllaritable objects of the Charity. The freehold property was transferred to investment propety once it was tenanted on 19 December 2018. A further £545,692 is designated as per the ￿erVeS policy of 3 months, budgeted opeTating cost8 (2022123: £514,193), £150,000 for a redundancies fund for all staff (2022123: £150,000). £IOO.000 set &side for expected propety improvements within the next two years on properties the Charity owns or leases (2022123: £100,000) and £20,000 set aside for rr costs for equipment renewals (2022123: £20,000). Balance at 01 April 2023 Transfer Between Funds Balance at 31 March 2023 Incoming Resourc expended General funds Designated ￿nds. Reseryes policy Designated fimds: Redundancies fiind 81,485 449,001 150,000 225.000 100.000 20,000 855396 (721.230) (69,905) 65,192 145,746 514,193 150,000 225,000 loo.000 20.000 *Ji Designated funds.. tnvestment property Designated funds: Properties improvements Designated funds: IT improvements Total Unrestricfyj fluids 1,025,486 855,396 (721,230) (4,713) 1.154.939 There is a designated fund of £225,000 for the investrnent propety at Tyseley (2021122,. £225,000) as this amount is not readily available to spend on the cbaritsble objects of the Clwity. The freehold property was transferred to investmcnt property once it was tenanted on 19 December 2018. A further £514,193 is designatsd as per the reserves policy of 3 months, budgeted operating costs (2021122: £449,001), £150,000 for a redundancies fund for all staff (2021122: £150.000), £100,000 set aside for expected property itnprovements within the next two years on properties the Charity owns or leases (2021122.. £100,000) and £20,000 sel aside for IT Costs for equipment renewals (2021122: £20,000). 27 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 21 Restri¢ted funds The income funds of the charity inch)de restricted fimds con]prising the following unexpended balances of grants received for specific purposes: Balan¢e at 01 April 2023 Transfer Between Funds Balanee at 31 March 2024 Ineoming resource8 Resources expended Birn]ingham CC - Mental Health Binningham & Solihull NHS Macmillan Cancer Support The Henry Smith Charity Universal Support- Help to Claim Alzheimer's CEO Fonlln Cadent Foundation Energy Saving TNst Other 10,090 10,943 37,000 230,016 365,498 49,250 281,632 83,369 9,603 43,117 37,958 62,980 (31,856) (211,829) (394,113) (49,104) (330,008) (72,182) (11,954) (44,478) (34,091) {58,056) (15,234) 5,819 28,615 34,949 6,587 6,733 48,376 11,187 6,662 9,013 (3.136) 4,098 4.745 4,497 7,965 8,615 (1,053) Total 42,339 1,200,423 (1,237,671) 71,020 76,110 •Funds transferred into unrestricted funds from restricted funds represent a paying back of fLll]d8 transferred into these restricted fi￿d pmjects from PriOT years where funding was less than expenditure. Pnoryear eomparatsve Balance al 01 AprRI 2022 Transfer Betiveen Funds Balance at 31 Mareh 2023 Incoming resourees Resources expended Birmingham CC - Mental Health Birniingham & Solihull CCG Macmillan Cancer Support The Henry Smith Charity Universal Support- Help to Claim CEO Forum Cadent Foundation Energy Saving Trust Other 19,139 74,000 160,296 365,488 48,250 302,057 20,119 7.084 21,198 15,757 (83,049) (149,353) (353,341) {47,569) (318,917) (12,881) (10,220) (17,100) (12,702) 10,090 10,943 (12,147) 5.906 6,587 16,860 1,775 9,013 (3,136) 4,098 4,745 1,690 Total 28,510 1,014249 (1,005,133) 4,713 42,339 •Funds transferred into unrestricted funds fron) restricted funds represent a paying back of fimds transferyed into these restricted fund projects from prior years where fimding was less than expenditure. 28 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Restrieted Project Descriptlons Btrmingbam CAty Coulleii (BCC) - Mental Health This project provides specialist welfare benefits advice to clients. Appointments are offered either as telephone appointment or face to face appointmcnt at three outreach community mental health sites acm&8 Binningl]am and refe￿[S are received from the Con]munity Mental Healtb Teams based at those outreach¢s. The funding foT this contrdct ended on 30th September 2023. Birmingham & Solihull NHS OUT Wellbeing service provides generalist advice to the patients of 32 GP surgeries witbin the Binninghatn and Solihull Clinical Comjnissioning Group (CCG). Referrals to the Se￿iceS are via members of the Primary Health Care Team and clients via seJf- referrdl. The aim of the servic£ is for patients to be supported and advised on their non-clinical issues that may be impacting their health and wellbeing. tbus freeing Practice staff time to focus on clinical issues. This contract been extended until the end of March 2025. Our staff project delivers a generalist advice service to the staff of Birn]ingham & Solihull Integrated Care System (ICS) prinwily via a dedicated telephone hotline with follow up appointm¢nts either in person, or digitally, subject to stsff preference andlor when the complexity of the issues requires. Our project based at Bitmingham Women's and Children's hospital, involves an onsite presence to deliver a full-time service to patients and families. Each contract provides fulldmg for one FTE caseworker. Macmlllan Cancer Support This project otTers face to face appointments at numerous outreach sessions each week. These were delivered out of six hospitals. 2 hospirKs. 2 ¢onununity buildings and a CA office across Birmingham and Solihull. Client5 are also given the Option of a telephone appointment if they are unable to travel for a face to face appoinlmenL The project provides welfare benefits advice lo people affected by cancer. Referrals into the service are via ¢ltni¢al nurse teams, consultants, and other health and social care professionals. Clients can also self-refer through our dediGat¢d Macmillan helpline. The funding from Macmillan Cancer Support has been extended to 3 1st December 2025 UniversaI Support Citizens Advice nationally b&s contracted with Cittzens Advice Birmingham to assist people to make a new claim for Universal Credil from assessment of eligibility for the benefit up to receipt of their f￿st payment. The service includes staffjng the national Help to Claim telephone helpline. via which clients are assessed for eligibility for Universal CrediL and for the level of support they require to make the claim.. andpmviding Pfdctical supwrt where required by cli¢nt5 to submit the claim. This seryicc is fi￿ded until March 2025. The Henry Smlth Charlty We receive filading from The Henry Smith Clwity to wport a team of Six volunteers to deliver specialist welfare benefits and finallcial capability advice to Birn]ingham residents via telephone/video and in-p¢rson appointments. The contract began in Juty 2022 and is funded for three years. CEO Forll Citizens Advice Birniingharn holds funds for a national netWOTk of local Citizens Advice (LCA) Chief Executives who meet weekly online for peer-t(Fpeer supporl but also meet periodically face-to-face at event5. Funds are derived from fees from local Citizens Advice for the face-to-face events and from sponsorship from companies which work with LCAS. Fun&8 ar¢ then used to pay the ¢osts of future meetings. Energy Saving Trust The BiTmiDgharn Energy Affordability Project (BEAP) provide8 energy advice and advo¢acy for clients in vulnerdble situatiot)s, focusing especially on ￿e1 povety hotspols in the north and east of the city. Embedded within our Debt Service, the tea provides expert advice, in-depth supporL and end-to-end case nwiagement. Clients are assisted via in-person appointmen telephone 8nd emaivwebchat and all support is tailored to the individual's need. The contract en&8 318t August 2024, 29 Cadent Foundatlon We receive fijnding from the Cadent Foundation for one FfE caseworker to deliver specialist energy advi¢¢ and income maximisation support to clients experiencing fuel poverty. The ¢aSewo￿eT looks at individuals, circumstan¢es holistically and ensures they can access the range of services they nea to tackle fu¢1 poverty and fmancial hardship for the long term. The project is fvnded for until 31" March 2025. Alzhelmer's Society This project provides welfare benefits advice to people affected by dementi& Appointments are telephone based and refetrals are made by Alzheimer s Society Staff. Clients call be referred from anywhere in England, Scotland and Wales. The project is fiinded through to September 2025. Other restricted funds These funds relate to client grants received by the charity from other charities and trusts and held on trust for clients until they can be passed onto them. 22 Analysfis of llet assets behveen fimds Unrestri¢ted fwids Restrkted funds Total Fund balances at 31 Mar¢h 2024 are represented by: Inveslment propety Net current assets Provisions 225,0(KI 1,042,772 (80,000) 225,11 1,118,882 (80,￿0) 70,110 1,187,772 76,lJO 1263,882 Unrestricted fimds Restricted funds Total Fund balatwes at 31 March 2023 are represented by; Investment propety Net curnt assets Provisions 225,000 1,009,939 (80,000) 225,000 1,052,278 (80,000) 42,339 1,154,939 42,339 1,197,278 23 Commitments under operating leases As lessee: As at 31 March 2024, the cotnpany bad Commitments under non-cancellable operating leases as follows: Land and bufildlngs 2024 Other 2024 2023 2023 Within one year Between one and two years 51,000 61200 43,629 30 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMEiYrs For the year ended 31 March 2024 Related parties Citizens Advice Birmingham (CAB) is a member of The National Assocxation of Citizens Advice Bureaux (Citizens Advice). the national charity (Charity Number.. 279057) which sets out a framework for standards of advice and case management and sUp￿rts local offices with an Inforn￿tiOn system. training and other services. During the 2023124 financial year payjnents were made to Citizens Advice to the value of £11,438 (2022123.. £10.453) in respect of subscriptions, accountancy suppo¢ training service& slation¢ry and sundries. Receipts from Citizens Advice for contracts ond grant fundiDg totalled £887,954 (2022123,. £834,756). Councillor Gareth Moore is elected mernbeT with Binningham City Council. During the 2023124 financial year payments were made to Binningham City Council of £47,468 (2022123: £93,347) in respect of premÈses rentals, council taxes and busIn￿S rat&s. Receipts from Birniingham City Council for contracts and grant funding in the year totalled £370,750 (2022123: £346,500). 25 Reconciliation of cash flows from operating aclITr￿tieS 2024 2023 Net income / (expenditure) for the rq)ortinE period Add: Depreciation charg¢ Less: Dividends, interest and rents from investmenLg UnGrease} I decrease in debtors Inctcase / (decrease) in creditors and provisions 6A604 143282 (36J99) 8,438 (188,962) (24,014) (IOOJ34) 47,334 Net provlded by operating &ctlvltfies (150a19) 66.068 26 Analysis of cash and cash equivalents 2024 2023 Cash at bank and in hand 939J94 1,053,514 Total cash and cash equivalents 939,594 1,053,514 26A Analysis of changes in net debt At start of year Cashflow in year At end of year Cash 1,053,514 {113,920) 939￿94 1,053,514 (113.920) 939,594 31 BIRMINGHAM CITIZENS ADVICE BUREAU SERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 27 Members IlabAIIty The Charity (which has the working name of 'Citizens Advice Birniingham {CAB}') was fornied as a company limited by guarantee on 3 December 1987 (Company Number: 02202427). The name of the charity is Binningham Citizens Advice Bureau Service Limited and was registered with the Clwity Collllnission on 15 December 1987 (Charity Number., 519639). None of the trustees have any beneficial interest in the company. All of the trustees are menkn of the company and guardntee to contribute £1 in the event of a winding up. 32