Charity registration number 701882 Company reglstratlon number 02366214 (England and Wale51 CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN LEGAL AND ADMINISTRATIVE INFORMATION Trustees B Jordan K Oakes R Bradley EFOX L Higson-Bliss M Blanchard V Burrows P Johnson D Parkln8on B Caren D McKeoivn IAppoinled 5 December 20231 (Appointed 5 December 20231 IAppolnled 5 December 20231 (Appolnlgd 19 March 20241 IAppcsinl8d 19 March 20241 IApw>int8d 26 March 20241 Secretary L Kidslon Charlly number 701882 Company number 02366214 R•gistèrèd offic• Magnum HoLJSè 33 Lord Slreet Suite 2,1 Leigh Lanca5hire WN7 1BY Independent examlner J8, Accountants & Bu$lna88 Advisors Limll&d Jamas House Stonecross Busin8ss Park Yew Tree Way Warringlon Ch$shirg WA3 3JO Bank•r8 Nèlional Wastminstèr Bank plc 4 Slondishgate Wigan Laneayhire WN1 1UE CAF Bank 25 Kings Hill Avenue West Mall'ng Kent ME19 4Ja
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN LEGAL AND ADMINISTRATIVE INFORMATION Natwork m•mbershlp Citizens Advice 3rd Floor North 200 Aldersgate Street Londoii EIA4HD Membership numbèr 3510033
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN CONTENTS Page Trustees. Ipport Ind8p8ndent exatnlner's report Stslemenl of financial activlties 9-10 Balance sheet Slalemenl of Cash flIyNS 12 Notes to the financial statements
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 trust885 pr8sent Ih8ir r8pDrt and accoun15 for the year ended 31 March 2024. The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out in note I to the fin8nci81 slatetnenls and cotnply wilh the charity's governing document. the Cornpanies Acl 2006 and 'Accounts"ng and Reportsng by Charities." Staletneni of Recorntnended Practice applicable to charitie5 preparing their account5 in accordance wlth the Financial Reporling Standard applicable th8 UK and R8public ol Ireland IFRS 1021 leffecllve 1 Jamary 20191.. Objectives and activitie The Charitable Company'9 obl8cllvo8 are lo prDmole any ¢harllablo purposo 1?r th8 publlc bengflt by Ihe &dvanc&monl of education. the protection and preservation of h8allh and the relief of poverty, sickness and distress in particular. bLrt viithout limitation. for benefit ol the community in the Boiou9h of Wigan and surrounding areas. The trustees have had r9gard lo tho Charlty Commlsslon guldance on publlc bgngflt. Vlslon and Ml$$Son Our Vision 15 that p8ople acGe85 our service easily and havg the knowledge and conl5denGe they nggd lo find a way forward, whatever the problem, What we will do to achieve this ig 3el out in our mi3Jion stotemenl which 13.. To support our communities health and wellbeing through the provision of quality advice which empower5 people to overcom8 thair probl•m$. and to spgak up lor those who arg Ir•alod unjustly, championing aqual, divarse and inclusive policy and practice. Publ1¢ B9n9flt Wo r8vlow our alms. obj•ctlv8s activit'ès each y•ar. W8 hav8 r8l•rrad to tha guidanc& conialn•d in the Charity Commisslon's ChArill8s ènd PLJbllc Bènefit documént. All ol our charitablè activltiès focus on tha prornotlon of rèsaarch, charitable and youth prol6cls for thè bènèlll of thts communlly. Ov•rvlow of S•rvS¢*8 The Cilizen$ Advice Service in the 8orough ol Wigan provideg a Bcrough-wide advice service throu 8 range of fflglhods ol delivery and seeks to rnake It5 services available for all sections ol the comrnunity in the Borough and lo provide sorvlc9$ Ihot org r91gVont to Ihglr needs. ser1¢$ org thg $ubl9Ct of DgIIvgry Plon$. agrotrd wllh Ihg maln funders. Thg. sprvir.p 1.8 frp.p., indgp?ndpnl, impartiHI Slnd mnfidp.nlial. It 1$ Apr.p.qgihlp. tn anynnp, rpoHrdlpg8 nf Ythgp. rArB., qpx, pthnir. orfgin, sexu41 orlen¢alion. dl$ablllly or religlous bellel. The voluntsry contrilxrt•on The Charitable Cornpany relies on volunteers undertaking advice viork, administrative support and 9ovemance to enable US lo delivor our Services, The Continued comrnilmenl anrl dedication ol our volunteers is iecognised with appreciation, The Charitable Company's volunteers provided 1,338 administrative suppori hours and 7,440 advi hours during the year. The monolary valu$ ol the voluntary conlribulion lo the Charitable company is $81imaled al £105,554 for lh8 year, This is not recor(Jed in ihese lir)ancial slatemenls.
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevgments and perfomiance The Charitable CoMpY has mel the performance requirermenls under contracts and seNice level agre8rn8nts and good progresa h83 eontr'nued to be m8de on the Business Development Programrne. Durlng the year wa hav8.. Supported 13,7?2 unique clients wllh 45,140 issues • HAlp8d OLJr c.liant8 gain nr maintain inc.nma Élqualino ta £ti,q70,q.97 Ihaqp.d nn an annuali8Ad pquivalantl Continued Io Work with partner organisations for Ihe benefit of client5 Continued to piovide advice and casework support lo clients in debt. resulting in ov8r £1.3 million of d•bt writ8 off and promoting money management through budgets'ng advic8 Su¢¢essfully bid lor continued funding to provide energy advl¢e to luel poor hoLJsoholds under Ihe Energy Advl¢e Programm8. This funding enablèd u$ to provide advice and assistance to 346 individuals wth Switching trnergy suppli8rs, application5 for grant5 and inlormtilion about energy saving tIsUre5 Received funding to provide income maximis8tion support lo clients struggling to rnan8ge with lh8 eost ol living • R8C8ived funding to provide energy saving sessions to 50 residents in Ihe community who wouldn't normally access support Coniinuecj deliv6rlng pensic>ns ould8nee under the Govemmenl's Pension Wlse service Conts'nu•d to FYovid8 g8n8ral advic8 In d8bt and w811ar8 benèfits and suppoM8d clienls with W8Karo Benafit Trfbur)al hèartngs via conferencè calls, In pèrson and vla wrlttèn submlsslons Worked with Vi'igan Courtil lo provide eosl ol living, incorne maximisation 8nd energy &Yvice lo re6idènls in comrnunily localions Continued suprM)rting clients to claim Unwersal Credit, under the Universal Support Help lo Claim servi Conilnu•d supportlng people v151Ung Atherton & L8lgh foDdbank5 to Improv8 th8ir flnancial sltuallon by ch8cklng eligibility for b8n8fits, supportlng lo apply, provbling anergy affici8ncy advice and r8f•rrlng Into our débt advice sèrwleè Continued lo dellver Macffdllan w8Kar# b6n8fltS 8dvlc8 and casawork lo people Ilvlng wSlh ¢an¢8r • H81d a Busin8ss Planning session with trustees and staff to review progress against our strategic priorities Underiook c8mp8igning 8¢tivitie$ 8im8d al incxegsing knowledge and uptake of Healthy Slarl Vou¢hers and continued our communications to k88p residents informed about cost ol living 5UPPDrt and other advice matters • Succ8sslully bid lor th8 r8commissiDn8d Council t8nd8r whlch will start in April 2024. Feèdbaek rie6ivttd from Clients showèd Ihal.. 90010 rèspondents said we helped them lind a way lorward with their issue 99 /0 respondents WOU recommend our seThiices lo others As a member of Citizens Advl¢e, the Charitable Company operates 8nd irnplemenls the equ81 opportunilles policies of the Association, and reuuesls that all employees. voluiile)e>rs and Board member5 accept ani act in line wilh the policies. The Charltabl Company op#rats an on-going cultural rnnitoring guN*y ol Itg elièntg. Covering dlsabillty. ethnielly and gender groups.
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A summary ol lh8 resutts lor 2023,'24 is provid8d below.. Client Prafile for 2023124 Ethnlclty 89°/o Whit8 40/. Blad( 1°A Mixed 3°/. Qlher G•nd•r 55Q/¢ fem818 45% male Dlsablllty l Long Terrn Health Condltlon 52°k clients with a disability l LTH Condition Fa¢tor8 affKting th• $•rvi¢e As we move forward, we continue lo lace sotne significant thallenge8, Resid15 are Still struggling lo tnanage financially and fuel debts were the lop debt Issue we supported clients with during 2023124. Client queries are ever more complex and limé consuming and morè p8up18 arè struggling lu liiid allordabl8. quality housing which is suitabl• to Ih•ir ri&&ds. Alongside this, Static and reduced funding led to a large Scale restructure at the end of the financial year, which saw a staff 105s of 5. This raises concerns about the health and welbeing of our 51aff. and a greater emphasis on suppDrtin9 client5 10 sglf hglp wherg posslblg. Vvg arg also up agalnsi larggl offlres In th9 south ol England who ale ablg lo ¥N)Id hlghgr salaries, irnpacting staff retention. A numbèr ol long axlsllng lundlng straams arè dua lo c8as• al the &nd of Nlarch 2025 and we do nol yét know ol the rtscornmlssloning Intenllons ol thé lundérs. It is likely that W8 wlll bè requir*1 to submit a règlon31 bid with olh8r local CitSzanJ Advice offlees In Grèat•r M•nch•sl•r, Additlon•llyb w• hov• l•$$ $urplus r•wrv•s lo r•ly on, whleh limlt$ our ability to recruit addl.onal staff. Strategic priorities Our priorities for Ihe planning period centres around 4 key theme5. which ar& Organisational Health, Advice. Advocacy and Inclusivlty. OLJr priorities over the next 12 months are.. Improvlng organlsallonal sustalnablllly and Incre891ng staff relenllon Retaining the Advice aualily Standarcl, through passing the Citizens Advice audil Improving our ability lo rneet demand. Ihrough the recruitment ol volunteer advisers Supporling mor4 r•sidonts to s•lf h•lp whgro apwopriato Roll out problem noticer training lo partners across the borough, enablrig Ihern 10 8UPPOrt residents 10 8elf help or make referrals into our service when required Increasing staff gngagemenl with rtsoar¢h and ¢an)paigning ¥¢tivilies and Sharing our knoWedg¢ with tt)0sg who can eftect change To ensure Ihat our engagement actiwlies Bre accessible to all comrnunities within the borough Acknowledgements The Trustee Board gralefully ackn)wledges the suprx)rt of our lunders. In 2023124 these were.. Wlgan Councll National Association ol Citizens Advic8 Bureaux lin Partnership with the Money and Pensions Service, The Guardian, the National Grid and the Department k>r Business and Trade, BEIS and the DWPI Alherton and Lei9h Foodbank (funded by the Trussell Tru811, Macnillan
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal revlew The Staiemant of Fin8naal Activities provides a Summary of the Charity's Inrne and Exp&nditure during 2023124 Whilst th8 8conornic environrnenl r8mained extrem81y challenging in the past year, th8 Charity's Managetnènt Tea worked hard to secure and maintain sufficient funding to ensure that we could continue ta provide hah quality services to clianls. This hard work paid off in January. whan Wigan Council, our largest singlg providèr of debt advice funding, awarded CAWB a new conlracl frorn 1 April 2024. For th8 y8ar-end8d 31 March 2024 our total incon8 was £999,828, up by £18, 191 on the previous year. The increase wa5 driven mostty by additional one-off funding from cth.zens Advice, rèsultlng Irom a grant provlded by The Guardlan nèws, alongslda the full-yaar bènèfit of fundlng from Macmlllan and Atherton and Leigh Foodbank, as w811 as high8r inv851m8nt incorne a5 we w8r8 ab18 lo take advantag8 ol the ris8 in bank interest rates. This additional income helped lo offset reductions in income from key projects such as Pension Wise and Help To Claim. Th•r• were no naw on4Joing projecl funding sourc•s in the yaar.8nd 31 March 2024 bul id•nlilying now sources r8rnains a prtorlty into th8 naw Ilnancial y8ar. The growth in annual iicome enabled the Board of Trustees to support an increased investment in charitable activities resulting in a rise In lolal expenditure of £16,445 to £1,026,153, with staff costs for the year growing by £47,479 10 £867,243. An element ol this laiier increase related lo redundancy and termination payments 1£13,3411 following the organisalional restructure Isee 'Factors Alfecting SeNiGe' abDvel however salary costs relating lo the direct Jelivery of services also increased by £34,1381+4Vol. For the year ended 31 March 2024, employrnenl costs represented 84.5V¢ of Total ExpeThlrture12023'. 81.2'/01. Other exppndilure decrea88d in the year by £31,034 10 £158,910 as invesltnpn15 in IT infra51ruclure and office furniture mado last year did not need lo be repealed Such investments to support the health and wellbein9 01 our stsff and our oualily sarvice dalivary will bs kèpl undèr rèvigw in tha nèw financial year. Going forwaid we anticipate furthgr pressures on s0¢ial-lunding budgets as tho cost of living crisis and tho wid•r global economlc challeng8s CDnlinu8 to squ88ze available Inv8Stm8nt In charitable activitl8s. Thls, coup18d wlth the n88d lo keep staff s81aries in Ilne with market r8tes, means there remains a rlsk to both the Ch8rity's In¢ome and profil8bilily in Iha new financial year. The 8oard ol Truslaes and the managernenl learn remain committed to id8nlifying new sources of funding and strategic investments in the Charity to ensure our business model is sustainable and that we can continue to provide OLJr vitally Important sorvic6S to Ihoso who nègd th¢rn in th¢ lo¢al ¢omrnunily. Slruclure, govemance and management Cltizèns Advicè Sèrvlc8 In th Borough of Wlgan Is a charftabl8 company Ilmii•d by guarantéè, and was r#gistr8d as a charity on 10 August 1989, The Company was established under a Memorandum of Ass)cialion, and incorporated on 29 March 1989. The Articbs of AssoEiation wer9 arnend8d by special re501ution dated 20 September 2022, superseding all previous arnendments. Notiee ol thesè 8cIal rèsolutlons hav8 bèèn fl18d at Companies House and th# Charlly Comrnission,
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Th8 Truste8s, who are a150 the dir8Ctor5 lor th8 purpose of company law, and who served during the y8ar and up lo th8 date of sign8ture of the financi815taternents were.. D Anderton G Bretherton B Jordan G Stnith I Wright J Fagan C Gr&&nhalgh K Oak¢s R Bradley EFOK L Higson-Bliss l Blanchard V Burrows P Johnson D Parkinson B Caren D McK8own (Resigned 24 October 20231 IResigned 18 July 20241 {R8sign8d 24 Oclob8r 20231 (Resigned 24 October 20231 IResigned 1S March 20241 IResigned 14 Jun& 20231 IAppolnt$d 5 De¢8mber 20231 IAppoinled 5 Dec8mber 20231 IAppointed 5 December 20231 (Appoii)ld 19 Marcli 20241 IAppoinled 19 March 20241 IAppoint8d 26 March 20241 Nallonal A$so¢latSon ol Cltlz•n$ Advl¢g Bureaux {Cliln$ Advl¢$l The Gharitable Company is a member ol the National Association ol Citizens Advice Bureaux Ilrading a8 citen5 Advice) and is subject lo the terms and conditions ol the Mernbership A9reement entered into with Citizens Advice. R•Grultm•nt and Appolnlm•nt of th• Trugtg•5 The Articl8s ol Association provide that the Trustèès sh811 ¢on5181 of mernbers who arè elteléd, representativè and CO•OPt8d. All elécted Trust•es musl r8lir8 fiom offic8 al the third annual g8n8ral m88ting following th8 annual g8n8ral m88ting al whlch they wèr8 818cl8d. but than may b8 r8-8lècled. All co-opte¢Y Tru3t888 must retire from office at the third annual general rn8eting following the rn881ing of lh8 Trust88 Board at which th8y wèrè appoint, bul Ihérn may bè elèctèd or re-appolnted. Th8 Trustees retain overall responsibility and control of th8 process for recrulting m8rnber$ ol the Board. Prosp8ctiV8 trustees are selected lor their ability to make an efferlive contribution to thè Charitable Company through Iheir skills, knawlèdoè and axp>rl&nrè. In 8dditiDn. tonsKlèratithn 14 olvèn as tn how r&pra$anlativa thg Rnard Is ol thA tommLinity.
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Organlsatlonal structurg The Trustse Board is Tesponsible for.. the overall ¢ontiol and condud ol the affairs ol the Charitable Company., • eslablishing the strategic direction and the stralegic objectives of th8 Charitable Company,. the determinab'on of the lemis ol reference and the comwsilion ol Committees,. the review of Board Membership in a¢cord8n¢e I1th the Mernorandum 8nd Artides ol Associalion., the financial viability ol the Charitsble Company, including financial polic4es and control.. and. monitoring the pertormanee ol all the Chafitable Company's functions, lo ensure that il perfomis in aecordance with legislative and regu181¢>ry requirements, and lo the highest standards of probity, efficiency, effe¢liveness, and setvice. The Trustee BoardlManag8menl Cornmhlee may appolnt eommltteos lo und&rtako varlous agpecls of ils work, but r8sponsibilily lor malters that ar8 80 delegated remains with th8 lull Board. The Board ol TrusleeslManag8menl Committee ensures that the commitlee structure ol the Charitable Company is appropriate to the scope and nature of its op&rallons and 18 capabl6 of ensurlng that lis rtssponsibllllies can be propèrly conlrolle(l and conducted, There ar6 no separate commitle8s al the present lime. Th• d•l•g•lion of man8g•rial authority The Trustees Board has resolvgd that the operational management of the affair5 of the Charilatje Company shall be elegaled to the Chief Officer of the Charitable Company IL Kidstonl with the Chief Officer being responsible to the Board fur 1118 prop8r conduct ol tli¥ Charitablé* Corn?any's upgialions. The Chief Offl¢er musl assisl Ihe Tru$l¥¥ Buar¢ to en$urg that the Charflable Companys objectivès are achieved. Rlsk Managernent The Tru51ee Board has considered the signific8nl risks which the Charitable Cornpany lace5. These 8re incIed in the Company Risk Registar and Busin8ss Conts'nuity Plans. The Trustee Board tOgnIseS that 8 b818nce needs lo be 8¢hleved between benefits Énd risks.. that is. between beino conc8rned not only lo pr8v8nt adv8rs8 situations frorn happ8ning, but also to 8nsur8 thai worthwhi18 changès do happen and are not prevented by a disproportionate asses5rnent ol posslble dlth¢ullie$. The resourceg exnded In rniligating a risk mu51 be in proportion lo its probable impact on the service. In Managlng rlsks, th8 Trustèè Board.. id&i)lifi08 tre risks which apply lo tho charity detemiines the likelihood and impact ol the risk rnaterialising considers how they ¢an rnitigate 8g8insl each risk ensures effective conlrols 8re in place regularly review3 its risks throu9hout the year Statement of Internal Control Tha board ol trustoas ovorsees the Informatlon security ol all personal Informallon of our cllgnts, staff, lund8rs and slrategic partners which 15 proce55ed. The Trustee Board holds joint re5ponsibilily for cli8nt data thal 15 held in 115 Case rnanagernenl System, with the nathjnal Citi2en5 Advice Service. An infOrma'On assurance rnanagement team eyi5ts to ensur8 that tha confid8ntlality, intwJrity and avallabS1ity ol all personal and sènsltlva data Is maSntsln6d lo a18vo1 whSch Ss compliant with th8 r8quirements ol th8 UK Gener31 Data Prol8Ction Regulation and Data Proleclion Act 2018. Porfomian¢g & Qual Managgm•nt The Chsriiable Companys quality program is appl lo tneel ils responsibilil18s to clients, the wmmuTrly and its lunders and other stakeholders to provide g(xxJ quality advice and support services for Wigan Borough whith are cost effgcllvg. fairly dglivorecl and relgvanl lo Ihe cDmmunSly's ngeds.
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Re5ervo5, Deposltlng and Dgslgnated Fund The Articlès of A8socialion ol lh& Charitable Company make provision foi thè Trust88 goard 10 inve81 moni88 not imm8diat81y r8quir8d In such inwestmf>nts or othèr assets as th8 Board in its compl8t8 discretn thinks lit, SLJbj8Ct nevertheless to such ¢onditions and consents as may be irnposed or required by law. In establishing its policy on the hOing ol reserves, the Trustee Board considers Ihe followin9'. In¢tsme and eXndItUre fo¢&$t$ for the year Redundancy liabilities A risk assessment covering financial and operational matters. including the dependability ol income sources. and the level and nature of expenditure commilmenis • The Charitable Company's Sirdlegic Plan and sewice d8velopmenls arising under Cit128ns A(Jvice requirements. The Tru81ge Board has agrg8d lo hold an amount In unr681rlcl8d r8$erv85 equivaltrnl lo three months 8alarS88 and olher running costs (equates to £205.218 ba88d on current known expenditure lor 20241251. Th8 Trustee Board has also con81derèd 118 financlal r88ponslbllliies lor r6dund8n¢y provlskjn and has d8eméd11 prud8nt lo sel aside an amount for redundancy cos16 01 £84.728. In addition, an amounl equating lo £500 01 unrestricted lund8 has been set aside as designated funding to help the Charilable Company meel its Health and Safely dut'es in respecl of cov8ring the co81 of &y¢ tests lor those siaff who spend a large proportion ol Ihèlr Ilme looklng al Display Screén Equipment. Th8 Iruslftf&8 rfipnrt was approvf*d hy thfl Bnard ol Tru81afis. B Jordan Trustee Dated., 2 Se?lember 2024
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN I report lo the Trustees on my examination ol th8 linanaal slat8m8nls ol Citizens Advice Service in th8 Borough ol Wig8n (the charity) for Ihe year ended 31 March 2024. Ro$pon$lbllltl&$ and b¥sl$ of roport As Ihe Trusl&es ol the charity land also ils directors for the purposes of company lawl you are rèsponsible for tha pr8paralion ol lh8 lina1 slal8m8n15 in accordanc8 with the r8quir8rn8nt5 01 lh8 Cotnpani85 Act 20J6 lthe 2006 Actl. Having satisfied myselllhal Ihe financial slalemenls of the charily a not required Ir> be 8udiled undèr Part 16 rf the 2006 Act 8nd are eligible for Indeprdent ey8minakn'on. I report in respect ol my exarninaiitsn of the charrty's financial statements Carried out Ljnder seati)n 145 al the Charities Act 2011 Ithe 2011 Acll. In carrying out my examinaticn I have followgd all th9 appli¢oblg Dir$¢lions 9ivgn by Charity Commisskin und9r $e¢lon 1451illbl of Ihg 2011 Ad. Ind•p•nd•nt •xamln•r's stat•m•nt Slnce th8 charlty'5 gross Incorne exceeded £250,000 your 8xarnln•r musl b8 a rn8mb&r ol a body Ilsl8d In sectSon 145 ol the 2011 Act. I confirm that l am qualified to und&rtak8 the 8xaminalion b8c3usa l am a m8mb8r ol ICAEW, which is onè ol thè listed bodies. I have completed my examinolion. I confirm Ih8t no maltprs have come lo my Otten'On in connection with the examination giving me ¢3us6 lo b&ligv& Ihal in any material resp8ct'. 8¢counling records were not kept in respe¢l of the charity as requirèd by section 386 01 th¢ 2006 Act,. or the financial stalernent5 do not accord with those records., or the financial slalements do not comply with the accx)unting r8quirements ol section Jyb ol the 2UUb Act other than any requirement that the accounls give a true and fair view which is nol a matter considered as parl of an Independent oxamlnallon". or the financial 5talemenl5 have not been prepared in accordance with the melhods and principles of the Stslement ol Re¢Dmmended Practice for a¢untIng ond reporting by charities oppli¢oble lo ¢harili¢s preparin9 Iheir accouDt5 in accordance with the Finunool ReportitYJ Stondord applicable in the UK ond Rgpublic ol Ireland IFRS 1021. I have no conc8ms and have comè across no othèr matt8rs In connectlon wllh thè examlnatlon to whleh attentlon should be df8wn in this report in tsrder lo enable a proper undorsl8nding of Iho finarn¢ial stslemenls lo be re8¢h*A. Peter Atkinson F.C.A. JS, Accounlanls & 8usine8s Advisors Lirnlled James Hou$9 Stonecross Business Park Yew Tree Vbay Warringlon Ch$shirg WA3 3JD Dated., 11 September 2024
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN STATEMENT OF FINANCIAL ACTtVlTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current linancial year Unre5tr1GtEd lund$ 2024 Re5trlGtEd funds 2024 TDlal Total 2024 2023 Nots8 Incorne from: Donallon5 and legacl85 Charitable aclivrtiÈs Other trading activi.S Investments 468.436 468,436 513,024 8,080 10,288 446,830 503,473 27.536 3.798 513.024 8.08D 10,288 Total Ineom& 486.804 513,024 999,828 981,637 endilure on: Charitoble oclivbt19$ 505,938 520.215 1.026,153 1.009,708 Other 13 1.9)2 Total expenditure 505,938 520.215 1,026,153 1,011,610 Transfers between funds 17,1911 7,191 N•t •xp•ndltur• far th• y•arl Net movement In funds 126,3251 126,3251 129,9731 Fund balances al 1 Aprll 2023 443.0SD 443,050 473,023 Fund balances at 31 March 2024 416,725 416,725 443,050 Th8 stal8ment of financial a¢livili85 includes all gains and108ses re¢ognis6d in the yèar, The staternenl of financial activities also complies with the requirements for an income and expenditure account under the Comp8nies Acl 2006.
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN STATEMENT OF FINANCIAL ACTtVlTIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Urire5trlGtEd funds IlestrlGled funds 2023 Total 2023 2023 Notes Incorne from: Donallon5 and legacl85 Charitable aclivrtiÈs Other trading activi.S Investments 446,830 446,830 503,473 27.536 3.798 503,473 27,536 3.798 Total Ineom& 478,164 503,473 981,637 endilure on: Charitoble oclivbt19$ 502.395 507,313 1.009,708 Other 13 1,902 1.9)2 Total expenditure 504.297 507,313 1,011,610 Gro55 Iranslers between funds 7,928 17,9281 N•t •xp•ndltur• far th• y•arl Net movement In funds 118,2051 111,7681 129,9731 Fund balances al 1 Aprll 2022 461,255 11,768 473,023 Fund balances at 31 March 2023 443,050 443,050 Th8 stal8ment of financial a¢livili85 includes all gains and108ses re¢ognis6d in the yèar, The staternenl of financial activities also complies with the requirements for an income and expenditure account under the Comp8nies Acl 2006. 10-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN BALANCE SHEET AS A T 31 AIARCH 2024 2024 2023 Noteb FlxÈd 8gse18 Tangib18 asse18 14 2,578 4,307 Currènt a88•t8 Debtors Cash at bank and In hand 15 10.565 438,314 21,334 403.739 448,879 485.073 Cr•dilor8= amount$ f811ing du• wllhln on• y•8r 16 134,7321 146,3301 N•t curmnl a860ts 414,147 438,743 Total as8•ts1•88 currnnl Ilabllltl•s 416,725 443,050 N•t ass•ts oxcludlng p•nslon Ilablllty 416,725 443.050 The fvndB of the charity Unraslriclad funds,. General unrèstricted funds Designated funds 331,497 85,228 352,834 90.218 19 416,725 443,050 Th8 cornpany is ented to the exemption from the audit requirement contained in s6clion 477 01 the Companies Act 2006, lor the year ended 31 March 2024. No memb8r ol tha company has deposited a notice, pursuant to section 476, requiring an audlt of these fin8nei31 s18tem$nts. The dir¢¢lor a¢knowlodges his ro8pongibililies for cornplying wlh tho rgquiremgnls of the Compani$s A¢1 2006 with respe¢lto ccounling records and the preparation of financial slatemenls. The members have not required the MpanY lo obtaln an audll of its fln8ncl81 slal8m&nis lor ihe year in quesllon In accordance with section 476. These financial slalernenls have en prepa in accordan with the provisions applicable lo cornpanies subject lo the small companies reg1ff. The financial slatements were approved by the Trustees on 2 September 2024 B Jordan Tru$tg9 Company registrotion number 023B6214 (England and Wales) 11
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notss Cash flows from operatlng actlvltl•s Cash (absod byyg8n8raled from operation 23 135,7131 90,341 Inve8tlng aetSvltles Inveslrnent incomg received 10,288 3,798 N¢t cash g•n¢rat*d from inv$$ting a¢tiviti08 10,288 3,798 N•t c•$h usèd In flnanclng a¢tlvltlo4 N•t Id•cr•a8•lllncr•ai• In cash and cash •qulval•nt8 125,4251 94,139 Cash and cash equivalents at beginning of year 463,739 369,600 Cash and cash equlvalenlB at end of year 438,314 463.739 12-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountSng pollcle8 Ch8rity infowmation Citizens Advice Service Sn th8 Borough of Wigan Is a prlvato company lirnit•d by guaranl8e incorporatod in England and Wal85 and a registered chaiily In England and Walés. Th8 règisl&red offic8 is Nlagnum HoJs&, 33 Lord Slre8t, Suite 2. 1. Leigh, Lanca5hire, WN7 1BY. 1.1 A¢¢ountlng convontlon The accounts have been prepared in accordance with the charity'5 Memorandum and Articles of Association, the Companies Acl 2006 and 'Accounling and Reporting by Charities., Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021" (effectivé 1 January 20191. The charity Is a Public Benefit Entity as défined by FRS 102. The financial slalements are prepared in 51erfing. which is the functional currency ol the charity. Monetary amounts in Ih9sa financial stAlamants *a round&d to thè nearest £. The countS have been prepared under the hist(yical cost convention. The principal accounting policies adopted are sel oul below. 1.2 Going concem Al the lirne of approving the financial slalern8nt8, the Trustees have a reasonabl8 expectation Ihal the charity hag adequate resources lo continue in operational existence lor the foreseeable lulure. In making this assessment the Trustees have ¢onsider8d ctrnlr8¢t$ ¢urrenly in place and the duration remaining and reviewed budgets and ¢3shflows for the forthcoming year bul a8 detailed in the Truslees report are mindful ol and aniicipale further pressure on social funding budgets. Thus the Trustees Con'nUe to aeopt the going concern basis ol accounting in preparing the financial slalements. 1.3 Charltable fund¥ Unr851ricled funds are avallable for use at the discretion ol the Trustees In furtherance of their charKable objecllve8. D88ign3led funds ¢omprls8 funds whlch havè been sel asldé at th8 dl8¢18llon ol the Trusleé8 for sp8dlS¢ purposes. The purpo¥¥8 u38¥ ol the dosignal8d funds ar8 $8t out in tha note8 lo the financi81 ¥t81&ments. Restricled fund5 are Subject to specbfic conditions by donors or grantors Bs to how they may be used. The purposes and ustrs ol the roslricled funds arg Sel out in the nolos lo the linano81818lernenls. 1.4 Ineorno Income is re¢o9nised when the charily is legally entitled lo il afler any perform8n¢e ¢onditions have been met, the amounts Can b8 7)easured reliably, and il is probable that incorne will b8 r6ceived, Cash donations are r8cogni38d on receipt. Other donations ar8 recognis8d once the charity has been notified of the donation, unlèss ptrrtttrmancè conditions r•quir• d&ftrrral of th8 amount. Incom8 tax t0rabIa in rtrlation to donations received under Gift Aid or deeds of covenant is recognised al Ihe tirne of the donati. Trading ac1w1.S relate to sludtsnt plaeEm8nts ane rtrlmbursemenls madtr from other Cltizens Advice Bureaux for shared costs. Bank interest is accounted for when received into tre thariV8 bank account. 13-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies Icontinutdl 1.5 Expendituro Expenditure Is rOgnised On there is a legal orconstructive obligation to transfereconomic benefit to a third paty, it is probablo that a tr8nsf¥r ol oconomic bongfits will bo roquired in setugmgnl, and Ihe amount of the obligation can b$ measured reliably. Expendiliire. including irre¢overable VAT is re¢ogni$Èd on the accrual basis In particular, the policy for including items wrthin charitable actwits'es is as follows.. Charitable activth8s Comprisa thos& costs incurr8d by the charity in lh8 dtrlivtsry of its 8¢1ivities and services for its beneficiaries. It inc.IiJ(J88 both the costs that can be allocated directly lo such activities and costs of an indirect nature necessary to support Ihem. All costs are allocated between the expenditure categories of the staletnt ol Financial Aclivi*'es on bases designed lo reflect the uses of partiCLJlar resour¢es. Costs lating to 8 Particular activity ore allo¢ated dire¢lly, while others are apptsrtioned on an appropTi818 basis. 1.6 Tanglbl• Nx•d ass•ts Tangible fixed assets ar8 initially measured al cost and subsequenly measured at cost, nel ol depreciation and any impairment losses. Only assets with a valuè 01 £1.000 or mor& will bè ¢8Plt81ised. Doprociation is r¢¢ognisod so as to wriic Ciff Ihc cost of OSGOt$ Icss thoir rosidual voluos ovcr thoir usoful livcs on tho following bases.. Fixtures ond fillings 20% per annum $lro1ghl line Thè gain or Ios8 arising on the dispo981 of 8n 8sset is det8rminad 88 the differencè bètwèèn the sale proc••dJ and the carrying value of the 855et, and is reco9nised in Ihe statement of financial aclivities. 1.7 Impalrmfynt of fixgd a$$&ts Al each rèptsrtlng end data, the charity reviews the carrylng amounls of Its langibl8 ass61$ to dit8rmln8 whether therè is any indication Ih81 tho88 88sels h8V6 yuffarod gn imptyirm8nt loss. 11 any such indication èxists. the recoverable amounl of the as68t is esilmalèd in order to delerrnine the extenl of the Impalment loss lif anyj. 1.8 Cash and caBh ?quivalent$ Cash and cash 6¥ulval&nls In¢ludg ¢a$h In hond. deposlts hdd 01 call wth banks. olh9r $hort-1grm Ilquld inv9Stmonls with original maluriligs of three months orlgss, and bank overdrafts. Bank overdrarts are shown within borrowings in current liabilities. 1.9 Flnancl31 Instrum&nts The charity has elected lo apply the provisions of Section 11 'Basic Financial Instruments. and Section 12'01her Financial Instwrnenls Issues, of FRS 102 to all of its financial instruments. Financial inslruments are recognised in the charity's balance )heel when the charity becomes party to the contractual provisions of Ihe inslrLJmenl Financial assets and liabilities are offset, with the net arnounts presented in the financial stalemenls, when there 18 a Iggally enforceable dghl lo sg1 off the re¢ognlsed amounts and Ihgre Is an inlonlion lo sfrllle on a n?1 basis or lo reallse th8 asset and seille the liablily simultaneously. 14-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ounting policies Icontinutdl Basie financial •J*ets Basic financial assets, which include debtors and cash and bank balenc£s, are inili£lly meaSUd at transaction price induding Iransadion wsts and are subsequently ¢arrigd at amortis8d ¢osl using th& 8ffe¢tivg inlertrst method unless the arrangement constitutes a linanGing Iransaclion. where the transaction is rnea5ured al the present value of the future reip1S discounted al a rnarkel rate of interest. Financk?l assets classified as receivable within one year are not amorti99d. DerQglI10n of financi41 asset$ Fin8n¢ial assets are derecognised only when the conlra¢tual rights lo the cash flows from the asset expire or are settled. or when lh8 charity Iianslers th8 financial asset and substantially all th8 risks and rewards of ownership to anolh8r entity, or il some significant risks and rewards of ownership ar8 retained bui control ol the asset has Ir8nslerred to another paty that is ablÉ to $811 the a$sel In its entirely to an unrelated third p8rty. Bas1¢ fln4n¢lal Ilabllllles Basic financial liabilities, including creditors and bank loans are initially recogni5ed at transaction pri unless the arranggmenl ¢onslilules a finan¢ing transaction, wherg the d$bl instrum$nl is measured al Ihg prestrnl value ol Ihg future payments discounted al a market rale ol interest. Financial liabilities classified as payable within one year ar8 not amortised. Debt instrumen15 are subsequently carried al arnortised cost. using the effective intsre51 rale method. Trdde cxedlton8 8re obllgatlons lo pay for goods or servlc85 Ihal have been acqulred In Ihe ortllnary course ol operations from suppliers. Amounts payable are classified as current liabilities il payment 15 due wrthin one year or Ipss. 11 not, they are presented as non-¢urrent liabilities. Tr¢de Credilorg are recognised initially at tronso¢lion pri and subsequgnily rveasuied al amorti$gd $1 using the effg¢liv? inlerFsl rllglhod. D6rneognlllon olfinanclalllabllltlos Financial liabilib'es are d8recognised when the charity s conlraclual obligations expir8 or are discharged or cancelled. 1.10 Taxatlon The charity is exempl from corporation tax on its charitsble ath'vilies. 1.11 Employe• b•ntrfits The CDSI of any unused holiday enlitlemenl iy recogni1 in the period in which the employee's 5ervice5 are received. Tgimina1ion bgnefils arg recognised imrnedial¢ly as on gxpgn$g whtrn Ihg charity is dgmonstrably wtnrnillgd lo terminate the employment of an employee or to provide temiination benefits. 1.12 R•tir•m•nt b•n•fits The pension tosts charged In the accounts represent the conlributlDns payable by the charity during the period. The charity has also entared into a deliol funding agretrment and Ihtr company has racognised its liability lor thls obli9ation a5 disclosed in note 12. 1.13 Leases Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a slraighl line basis over the term of the relev8nl lease. 15-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accounung estlmates and Sudgements In the 8pplie8bon of the ch8rity'$ 8e¢ounting polioes, the trustees are required tts make judgennts. e$b"mgte$ and assumptions about carrying atnounl of assets and liabilities that ale not readily apparenl from other sources. Th8 estirnates and associated assumption5 are based on hi5torlcal expèrfence and other lactors that are consldered to be relevant. Actual iesulls may differ from these esllmates. Thp p.limAIp And ijndprfying A88iJmptinnq Arg. rp.vipwpd nn An nnonino hAqi¢ Rp.viinn* In Aernijnlino p.8lim2ip.8 Arp recogn159d in the perlod in which the estimate is rev158d where the revlsvjn affects only that perlod, or In the period ol the revision and Tutur8 periths where the revision aff8cls both current and future periods. The trustees consider th8 company's share ol the pension s¢heme lo be a oiitical area of judgement and estimation as it is nol possible lor Ihe comp8ny lo obtain sufficient inforrnalion lo &nable il lo aecount for the scharne as a defined benefit scherne as detaile in note 12. Th8 tuarial valuation, calculated by independent actuaries with input from managernenl, includes assumptions such a5 discount rates, annual rates ol relum and mortslity rates. Thesa assumplons vary Irom tlme to lime according lo pievailing economic conditions, The truslees have also assessed the estlm81¢d Costs of future potential redundancles 8nd have included this eSMate within d8si9nated funds in Note 19. Donationo and l&gacie8 Unr•strlct•d Unrestrfeted funds lundg 2024 2023 Donallon8 and g8 468.436 446,830 Donatlons and gllts Don81ion$ Gronls re¢frivgd for cor? servl¢e$ Parher payment aranl 216 397.420 70.800 98 376,732 70,CQO 468,436 446,830 Charbtable actl¥ltle5 2D24 2023 En8rgy Advicè Programmè ond Big En#rgy Saving Network Help lo Claim Money Advice Service Pen8ion Wise Macmillan 37,B03 135,135 155,303 126.919 41,952 15,912 35.525 144,476 151,852 146,718 17,TT3 7,129 Atliertull ¢irid Leiyli Fuud Bdrik 513,024 503,473 All Incomo for both yèars raktgs 10 r8slrictad funds. 16-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Othfji tradlng actlvltlos Unrestricted Unr•9trictèd funds lunds 2024 2023 Othtsr income 8,080 27.536 Inv•$tm¢nts Unr•8trlcl•d Unr•#trlct•d funds lund8 2024 2023 Interest re¢eivoble 10,288 3,798 17-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltable actotIes Unrestricted Restricted fund$ funds 2024 Unrestrictod Restricted Tololfunds funds 2024 2023 Total 2023 2024 2023 Siaff eoste Depreciation and impairrrenl 365,304 481,9JO 867,24J 378,424 441,J40 819,764 1,S35 8.552 17,962 17,907 S49 70,80D 194 1,648 13,918 18,687 40 1.729 10,200 31.880 36,594 589 70,800 2.114 8,844 25.782 15,519 12,2781 70,000 2,308 9.737 51,576 35.181 11,932 70,(X)O Stt and volunteer costs Office costs Pr¢miso¥ Costs Other A9e UK costs 1,093 25,794 19,662 14,210 502.609 516,426 1.019.035 498,205 502,293 1.000.498 Share of governance costs Isee noie 81 3,329 3,789 7,118 4.190 5,020 9,210 505,938 S20,215 1,026,153 502,395 507,313 1,009.708 An•ly¥i$ by lund UnreslrS¢18d funds Resliiclgd lundg S05,938 505,938 520,215 502,395 502,395 507.313 520,215 507,313 505,938 520,215 1,026.153 502,395 507,313 1,009.708 Support cost• Support ¢o¥t$ Governance costs 2024 2023 Independent exaniner fees Legal and prole55ional 5,000 2,118 5,000 2,118 4,190 5,020 7,118 7,118 9.210 Analy5ed between Charitable active$ 7,118 7,118 9.210 18-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movernent In funds 2024 2023 Th? net movamenl in fund$ 1$ ?taled after chorgirngllcredilingl,. Fges payable lor the independent gxaminalion of Ihg charity's linanri81 sl81gm8nls 5,000 1,729 4,190 2,308 1.g02 Depreciation of owned tangible fixed assets Los6 on disposal of tangible fixed assets 10 Tru$tg•8 Non¢ of tho Tr(Js1o lor any persons connected with them) re¢eiv¢d any remuneration, benefits or expenses from charity during th& y6ar. 11 Employws 2024 Nuinb•r 2023 NumIr Employees 35 Employm•nt cosis 2024 2023 Wages and salafl85 Social se¢udly 81S Other pension costs 772,580 65,984 28,679 733.TT8 58,052 27,934 867,243 819.764 Redundancy and lermlnallon payments lo¢alllng £13,341 w6re n)adg In the reporting p8ri0d. There wgre no 9p10Ye$ whose annual rernuneralitsn was £60,000 or morg. 19-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Penslon Scheme The company palicipates in the scheme, a multi-employer scheme which provides benefits to some 638 non-8ssocl8led partlclpaling employers. The scheme Is a deflnad benefit scherne In the UK.11 Is nol pos$lbl& for the company lo obtain sufficient information lo enable il lo 8ccounl for the scheme as a defined benefit scheme. Therefore it accounls lor Ihè scheme as a defined conlribution scheme. The scheme is subject lo the funding legislation outlined in the Pensions Act 2004 which came into force on 30 Dacembèr 2005. This, logèlhr wilh dijcurngnls issuad by the Pgnsions Ragulator and Tgd)nical Actuarial Standards 15sued by the Financial FlepDrting Counril, Sel oijl the Irarnework lor funding defined benefit oGrvpalional pension schemes in the UK. Th& schemo is ¢L9ssifiod as a'lasl-man standino arrangom6nt'. Thorolora tho comp8ny is potonlially liable for othor participating employers, obligations if Ihose employers are unab18 to meet their share of the sch8me delicil following withdrawal from Ihe scheme. Participating employers are legally required to rnèet thèir share ol the scherne deficit on an annuity purchase basis on withdrawal from th& scheme. A full a¢tuarial v8lu81ion Igr Ihg scheme was carrifjd out 0130 S&pl¥mber 2020. This valuation $howo¢J 4s$gts of £8QKJ.3m. liabiliti85 of £831.9rn and a d8ficil or £31.6m. To eliminate this funding shortfall, tlie Trustee has asked the participating employers lo pay additional COntributnS to the scheme os follows.. Deficit contribution8 From 1 April 2022 10 31 January 2025,. £3,312,000 per annum Ipay8ble monthly) Unless a Concession has begn agie8d with the Tru8189 the lem lo 31 J8nuary 2025 applies. Nolo that th8 schome's previous valuallon was carriod out wlth an eff8cIIv8 date of JO Sept8mr 2017. This valualSon showed assats of £794.9m, Ilabillti8s of £926.4m and a d81iclt of £131.Srn. To èllminattr thls lundlng shortfall, tha Trustee asked thè partiClP8ting employ8rs to pay addition81 contributions lo Ihe scheme as follows.. Deficlt conlrlbutSons Frorn 1 April 2019 10 30 Seplernber 2025.. £11,243,000 pèr annum Ipayabla rnonlhly and incre85ing by 3°/0 eaGh on 181 April) Thè recovery pl contributions arè allocalad to èach particlpalng èmploy8r in linè with Ih8lr estlrnatèd sharé of the S8rl8s 1 and Sert8s 2 schèma liabillties. Where the scheme 1$ in d6ficil and where the company has agreed lo a d61icil funding arrangemtsnl the company recognises a liability lor this obligation. The amounl recognised is the nei present value ol the deficit reduction contributions payable under the agreement that relates lo the deficit. The present value is calculaled using the discount Taltr Lk*iail¥d if) Ili¥sii disLlu¥urvs. Tli¥ uiiwiiidii)y vl disbuuiil ial¥ is as a fiiiaT)L¥ ¢usl. 31 March 2024 l£sl 31 March 2023 l£sl 31 March 2022 l£sl Present value of provision 281 601 943 ASSUMPTIONS 31 March 2024 % per annum 5.31 31 March 2023 per annLJm 5.52 31 March 2022 Q/0 per annum 2.35 Rale ol discount Thg discount rates shown above are the equivalent single discount rates which, when used lo discount the future recovgry plan ¢ontribLJtions due, would 9lV& the samo r9BuIts as (Jsing a full AA eorporate bond yield curve to diw)unt the same recovery plan conlribulions. -20-
CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Oth•i 2024 2023 Nel loss on disposal of tangible fixed assets 1,2 14 Tangible fixed aB8ets FIx¢ur•A an ffttlng8 Co•t At 1 Apdl 2023 11,541 Al 31 March 2024 11,541 Depr*¢lallon and Impalrment At 1 Ppril 2023 Depreciation Gh8rged in the ygar 1.729 At 81 M4r¢h 2024 8,3 Carrylng amount At 31 March 2024 2,578 At 31 March 2023 4,307 15 Dobtors 2024 2023 Amounts falling due within one year.. Tradt debtors Other debtors Prapaym¥nts and accruéd Incom8 1,335 8,471 759 13,722 4,630 2,982 10,565 21.4 16 Credllors.. amounts falllng due wlthln ono y&•r 2024 2023 Trade creditors Other taxation and Social security Other creditors AccruBls and deferd incorne 8.694 12,438 12,0 15.(K>Q 18,910 13,fj00 34,732 46,330 21
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CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Analysls of net assets between fund UnroJtri¢tod fund$ 2024 At 31 March 2024- Tangible gssels Current assetsl{Iiabilitiesl 2,578 414.147 416.725 Unrè8tri¢tgd funds 2023 At 31 March 2023: Tangible assets Current 8sstttsllliabililiesl 4.307 438,743 443,( -24-
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CITIZENS ADVICE SERVICE IN THE BOROUGH OF WIGAN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Operatlng leg49e commltments Al th$ reporting &ntl dale the charity had outstanding Commilwents for fulura minimum lease paymanls under non-cancellable operating16a8&s, which fall du8 a8 follows= 2024 2023 Within one yèar Bgtw8en two and five years 21.480 48.330 21.480 69,810 69.810 91,290 21 Rolat•d party transa¢tlons There were no related party transactions during the year12023.' none). 22 Control The charity 18 controlled by kne trustees. 23 Cash g•norat•d from op•ratlons 2024 2023 Delicil lor the year 126.3251 129,9731 Adjuylment8 for.. Investrnenl incorne r8cogni*d in statent ol frnan¢ial ecfjvities (Gainilloss ori disposal ol tdngible fixed assets Depreciation and irnpairment of tangible fixed 85sets 110,2e81 13,7981 1.9)2 2,308 1,729 Mov¢menl$ in working capital.. Dtrcreas¥ in d¥blors IDecrea5ellincrease in creditors 10,769 111,5961 108,772 11,130 Ca$h labsorbeil byllgener#t•d from opeiation• 135.7131 90.341 24 Analysls of changgs In not funds At 1 Aprll 2023 Cash flowi At31 M4rch 2124 Cash at bank and Sn hand 463,739 125,4251 438.314 463,739 125.4251 438,314 -26-
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