Company Registration No: 2265182 Registered Charity No: 800012
Unaudited Report and Financial Statements
Milton Keynes Citizens Advice Bureau
(A company limited by guarantee and not having a share capital)
For the year ended 31 March 2021
Acorn House 361 Midsummer Boulevard Central Milton Keynes MK9 3HP
Milton Keynes Citizens Advice Bureau
| Contents | |
|---|---|
| page | |
| Report of the directors (trustees) | 1 – 13 |
| Report of the independent examiner | 14 - 15 |
| Statement of financial activities | 16 |
| Balance sheet | 17 - 18 |
| Statement of cash flows | 19 - 20 |
| Notes to the financial statements | 21 - 35 |
| Detailed statement of financial activities | 36 |
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees) For the year ended 31 March 2021
The directors (trustees) have pleasure in presenting their report and financial statements for the year ended 31 March 2021.
Reference and administrative details
Registered charity name: Milton Keynes Citizens Advice Bureau Charity number: 800012 Company number: 2265182 Registered and principal office: Acorn House, 361 Midsummer Boulevard, Central Milton Keynes, MK9 3HP Bankers: Barclays Bank plc, PO Box 170, Winterhill, Milton Keynes, MK6 1AL Unity Trust Bank, PO Box 7193, Planetary Road, Willenhall, WV1 9DG Independent Examiners: Mazars LLP, The Pinnacle, 160 Midsummer Boulevard, Milton Keynes, MK9 1FF Directors and trustees: The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees serving during the year and since the year end were as follows: Christopher Parsons (Chair) (Appointed Chair 09 November 2020) Charlotte Derry (Treasurer) Anthony Ashmore Alan Batley (resigned 09 November 2020) Jenny Brighton (Chair until 09 November 2020) Robert Hill (resigned 09 November 2020) Tariq Raja (appointed 26 April 2021) Vanda Ranyard Naomi Webb (appointed 26 April 2021)
All directors are members of the charitable company and stand as guarantors of the charitable company in the sum of £1 each. None of the directors have any beneficial interest in the charitable company.
Bureau Director: Ben Thomas Company Secretary: Kevin Smith
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Structure, Governance and Management
Governing document
Milton Keynes Citizens Advice Bureau is a company limited by guarantee governed by its Memorandum and Articles of Association.
Appointment of Trustees
Milton Keynes Citizens Advice Bureau through its equal opportunity policy is committed to ensuring that people from different communities and backgrounds are not disadvantaged by their gender, race, ethnic origin or colour, by a disability, by their sexual orientation, their marital status or by their age. It aims to recruit and select trustees that recognise the diverse society in which it operates.
The number of trustees is limited to a maximum of twelve and a minimum of four. Trustees are either elected at the annual general meeting, nominated by member organisations or co-opted by the Trustee Board (provided that the total number of co-opted and nominated trustees does not exceed four).
All elected trustees shall retire from office at the third annual general meeting following the annual general meeting at which they were elected, but they may be re-appointed.
Trustee induction and training
Upon appointment a programme of induction and training is prepared for new trustees. As well as a locally prepared programme there is also a programme of induction and training provided through the National Association and new trustees undertake both.
Organisation
The trustees are selected and appointed in accordance with the Articles of Milton Keynes Citizens Advice Bureau. They meet every two months and produce formal minutes of their meetings.
The Chair and Treasurer meet with the Bureau Director on a monthly basis to review budget and performance information.
Indemnity insurance
The charity purchased professional indemnity and public liability insurance during the year to indemnify employees against liabilities arising as a result of negligence. The cost of this insurance was £1,572 (2019/2020: £1,572).
The charity also purchased directors and officer liability insurance to indemnify trustees against legal liabilities. The cost of this insurance was £319 (2019/20: £312).
Related parties
The charity’s wholly owned subsidiary Milton Keynes Citizens Advice Bureau (Trading) Limited is currently dormant.
It is the aim of the directors that the company will receive income and carry out activities which are compliant with the objects of the parent charitable company, Milton Keynes Citizens Advice Bureau. Any surplus generated from these activities is donated to the Charity under the Gift Aid Scheme.
The Bureau remains an associated member of the National Association of Citizens Advice Bureaux to which it pays an annual fee.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Remuneration
The Bureau operates a remuneration policy whereby an annual percentage award is considered for all directly employed staff, from 1st April each year, and that the individual percentage be so calculated to include:
a) Personal performance of the employee, during the year under review; and b) Financial performance of the Bureau as a whole during the year.
Given the size of the Organisation, the trustees do not believe that a set salary scale for each post is appropriate or beneficial.
The average employee headcount during the financial year was 21 (full-time equivalent was 16.9). No employee earned in excess of £60,000 and the total remuneration paid to one key management employee during the year was £40,000.
Risk management
The trustees are aware of the need to ensure that all major risks to which the charity is exposed, in particular, those related to the operations and the finances of the charity are assessed. The trustees use a formal risk management process to assess these risks and implement risk management strategies.
The trustees monitor the changing circumstances of the Bureau on a continual basis so that new risks can be identified and addressed. This involves identifying the types of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
The key risks during this year have arisen from the continued and sometimes escalating Covid-19 pandemic and actions to mitigate these risks have been undertaken throughout the year. These actions have included following all Government and National Association guidance and resulted in:
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Suspending all face-to-face client appointments and using only telephone and digital services
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Staff working from home with limited office working reintroduced when allowed and with changes introduced to ensure social distancing and safe working.
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Provision of masks and hand cleansing sanitiser for staff coming into the office.
Regular risk assessments were undertaken and issued to all staff and volunteers.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
The trustees have identified the following key risks for the organisation along with the mitigating actions to be undertaken:
| Potential Risk | Mitigating Actions |
|---|---|
| Funding of the organisation | The Bureau will continue to apply for grants and contracts that align with its mission, objectives and Strategic Business Plan. The trustees will ensure that all future work undertaken by the Bureau does not result in a depletion of its unrestricted reserves. |
| Loss of key staff | The trustees are aware that the future success of the Bureau is dependent on both its staff and volunteers. The Bureau will continue to develop its strategies for succession planning along with appropriate HR policies and procedures. |
| Board development | The Board has commenced action to expand the Board in size and skill base to reflect the Bureau’s mission as a diverse and inclusive organisation. This action will continue in the coming year. |
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Objectives and activities for the Public Benefit
The objects of the charity are:
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To provide the advice people need for the problems they face;
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To improve the policies and practices that affect peoples’ lives;
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To ensure individuals do not suffer through lack of knowledge of their rights and responsibilities or through an inability to express their needs effectively.
Milton Keynes Citizens Advice Bureau has referred to the guidance in the Charity Commission’s general guidance on Public Benefit when reviewing its aims and objectives and planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set for the organisation, thus ensuring public benefit continues to be delivered.
The principal activity of the charity continues to be the provision of a free, impartial service of information, guidance and support, and to exercise a responsible influence on the development of social policies and services both locally and nationally. Any activities which are provided outside the geographical surroundings of Milton Keynes are carried out by the charity’s trading subsidiary. It is the intention of the trustees that the residual surplus of the trading subsidiary will be donated to the charity under the gift-aid rules. At present, no such activities are taking place and the charity’s trading subsidiary is dormant.
Milton Keynes Citizens Advice Bureau supported 7447 people with 16151 subject enquiries during the financial year. Welfare benefits, debt problems and housing enquiries continue to be the major subject areas dealt with by the Bureau and constitute 64% of all enquiries, the Covid-19 pandemic also saw a 43% increase in Employment Law related enquiries as the effects of furlough and redundancies were felt across the local area. The Bureau collects evidence of clients' problems and uses this to campaign for changes in national and local policies and services. It plays a key role in speaking up for clients, raising issues brought into the Bureau, contributing to public debate and informing legislation. The charity’s research and campaign work covers a huge range of issues including consumer, debt, housing, benefits, immigration, employment, legal matters and health. Locally and nationally the charity works with policymakers, regulators, MPs, Local Government and service providers.
Achievements and performance
Milton Keynes Citizens Advice Bureau is a medium sized urban advice bureau servicing a growing metropolitan borough with a current population in excess of 260,000.
The Bureau provides generalist and specialist advice, guidance, support, digital skills training and advocacy to individuals in need, many with complex financial, legal or personal problems. During the financial year the organisation suspended all its face-to-face services both at its main office and at its network of 16 outreaches across the metropolitan borough of Milton Keynes. This was in line with government guidance to ensure the risk of virus transmission was kept low and that staff, volunteers and clients who were medically vulnerable, could continue to work or access services safely. Accordingly, advice has been delivered throughout 2020/21 via a mixture of delivery channels including telephone, video call, webchat, email, and text. Throughout the pandemic, the service continued to take third party referrals from all its key partner agencies across the city including medical centres, hospitals, adult social care, community homeless teams and other voluntary sector groups.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Achievements and performance (continued)
The charity is the primary provider of advice services in Milton Keynes and historically has been funded by Milton Keynes Council. In 2020/21 we continued under our working arrangement with the Customer Services department at Milton Keynes Council to provide generalist advice to individuals with debt, housing, and benefit problems. This arrangement is renewed each year on an annual basis. The expenditure on this service reduced Local Authority debt enforcement costs, reduced benefit administration costs, and ensured revenue owed to the council was recovered. Annually, this funding is worth £100,000 to Milton Keynes Citizens Advice Bureau with savings in excess of £250,000 accruing to Milton Keynes Council.
Milton Keynes Citizens Advice Bureau received project funding in excess of £557,506 from six key funders which taken together enabled a wide range of advisory services to be provided based upon extensive accreditation, experience, knowledge and information systems.
At the end of 2020/21 we were advised that funding from the local authority to operate a dedicated advice service for vulnerable adults was being extended for a further 24 months to June 2023. The service allows for continued collaboration between ourselves, adult social services and community mental health teams to resolve practical issues for people who are vulnerable and disadvantaged. The additional income from the local authority of £39,351 meant that 42% of our funding came from Milton Keynes Council during 2019/20.
In the 2020/21 financial year we advised 7,447 people about 16,151 issues. 41% required specialist casework interventions and 59% were resolved through triage or brief intervention. Unlike in previous years, client contacts were managed only through the telephone and new technology such as secure video call and webchat as a direct result of the successive national lockdowns and covid-19 restrictions.
Across the borough 18% of the child population lives in a low-income household. At least 3 in 4 of local working people seeking advice from Citizens Advice are in the bottom-half of the income distribution, with a household income of less than £24,600 per year. Income data suggests that £23,300 is the average income per local taxpayer.
Despite the continuing uncertainty, created by Covid-19 and its impact on the economy, the Bureau continues to develop and deliver responsive, high quality services which are independently monitored and evaluated, and which remain free, independent, confidential, and impartial to everyone regardless of age, race, gender, disability, sexuality or religion. Advice and help will be given on any subject without any preconceived attitude on the part of the Bureau.
To redress inequalities, Milton Keynes Citizens Advice Bureau seeks to provide a variety of access routes to services, thereby encouraging social inclusion and well-being for those who live and work in Milton Keynes. Following our contribution made in 2019 to the Milton Keynes Child Poverty Commission we now have representation at the Milton Keynes Child Poverty Partnership which has been set up to look at ways of addressing the issues highlighted across Milton Keynes by the commission report.
The Bureau suspended its network of outreaches funded by local parish and town councils, in 2020/21 and explored interim arrangements for remote delivery as well as working to develop future ‘post covid’ models of service in some of the most deprived areas in Milton Keynes.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Achievements and performance (continued)
In addition to its core services, and despite the pandemic, the organisation provided support for cancer patients and their families via a remote version of its Cancer Information and Advice Project, normally delivered at both Milton Keynes and Stoke Mandeville Hospitals. During this financial year, funding for the advice service was extended by Macmillan Cancer Care to December 2021. The Bureau kept access to advice available for people with mental health problems through a virtual form of its GP Surgery Outreaches at Whaddon House and Water Eaton Medical Centre .
Our Specialist Money Advice Service has continued to support people across Milton Keynes with serious debt and financial issues. During 2020/21 we successfully applied for ‘Increased Capacity Funding’ from the Money and Pensions Service (MaPS). This meant that with effect from November 2020 the bureau employed 3.0 FTE Debt Advisers, up 1.0 FTE from 2019/20.
The bureau did not use the services of professional fundraisers or commercial participators to assist with its fund-raising activities during 2020/21 and no complaints have been received regarding its fund-raising activities.
Milton Keynes Citizens Advice Bureau uses every opportunity to promote volunteering but during 2020/21 volunteer numbers declined drastically from around 80 to 30 over the 12-month period. This has been driven by several factors – shielding and covid safety chief among them. Many volunteers also felt that the implementation of new technology and working methods in response to the pandemic had changed the volunteering experience for them considerably and in some cases enough to step away to pursue other opportunities.
Financial review
The results of the charity for the year are set out in the financial statements on pages 16 to 35.
Total revenue for the year was £725,980 (2019/2020: £631,667). The net movement in funds for the year was a surplus of £150,080 (2019/2020: surplus of £114,915), which included a surplus in unrestricted funds of £128,605 (2019/2020: surplus of £77,777) and a surplus in restricted funds of £21,475 (2019/2020: surplus of £37,138).
The principal funders during the year are as follows:
Big Lottery Fund Macmillan Cancer Support Milton Keynes Community Foundation Milton Keynes Council The Money Advice Service National Association of Citizens Advice Bureaux
The Bureau delivered the Milton Keynes Council General Advice Service between April 2020 and March 2021. Funding was renewed for a further 12 months from April 2021.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Financial review (continued)
The Bureau will be delivering the National Association of Citizens Advice Bureaux’s Universal Credit Help to Claim Service between April 2021 and March 2022 – the grant allocation remains unchanged from the previous 2 years. The Help to Claim funding required the bureau to continue contributing an agreed number of staff and volunteer hours (in 2020/21) to a national telephone helpline and webchat service for claimants of Universal Credit.
This third year of delivery will be the last directly granted to National Citizens Advice as the Department for Work and Pensions (DWP) will be placing the Help to Claim contract for 2022/23 into a tendering process and inviting expressions of interest (and ultimately bids) from other potential providers. National Citizens Advice has confirmed that it will be bidding for the contract, however at a local level we have little influence over the success of the bid itself and so the uncertainty about this funding continuing beyond March 2022 represents a significant strategic and financial challenge.
During the year ended 31 March 2021 Milton Keynes Citizens Advice Bureau received funding of £112,330 from the Money and Pensions Service Face to Face Debt Advice project (MaPSDAP) , which was in partnership with the National Association. These funds were used to deliver free debt advice during the pandemic to people experiencing financial hardship and those with a level of personal debt that meant their household budget ran at a deficit. As we have already alluded to, the project had to delivered differently due to the pandemic, and some of our normal targets were adjusted to reflect this. Overall, the service has performed successfully during this time, but at the end of 2020/21 we were advised that the funding arrangement with National Citizens Advice is being reviewed and the contracts across the UK are being recommissioned at the end of the financial year 2021/22. As with Help to Claim we have no direct influence over the course of the recommissioning process except to provide the national body with management and performance information relating to the contract and its employees. This process also represents a future period of uncertainty and risk for the financial year 2022/23
In November 2019 we were invited to develop a proposal to deliver specialist money and housing advice to residents as part of Milton Keynes Council’s Homelessness Prevention Service and secured an agreement at the end of 2019/20 to deliver a pilot project in 2020/21 worth £118,200 per year. Due to the Covid-19 emergency, we were unable to begin delivering the proposal until midway way through the financial year in October 2020. The Homelessness Prevention Support Service (HPSS) had taken 80 referrals at the end of 2020/21 and will continue to run until the pilot ends in October 2021. We are hopeful of an extension beyond this date, especially as MKC acknowledged that the project hasn’t had an ideal start during the pandemic and the moratorium on possession orders and evictions meant that demand was lower than anticipated.
All office space currently occupied by the organisation continues to be let at our landlord’s subsidised rate for voluntary groups. The office is not currently open to the public due to the Covid-19 restrictions. We plan to reinstate Face to Face services in a limited way in the second half of 2021, however it is unlikely that clients will use the premises in great numbers. Staff attend the office on a rota basis in line with our Covid-19 risk assessment. As a response to some of the financial risks to the organisation in the coming 18 months, the management and board may need to explore if it remains cost effective to continue maintaining an office on the current scale, given the advances in technology that have made homeworking easier and more achievable.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Financial review (continued)
Our Strategic Business Plan also set collaborative working with another local charity as one of its main strategic objectives. In 2019/20 we and Works for Us (a local employability charity) were awarded a combined grant of £487,000 by the National Lottery Community Fund (NLCF ), over 3 years, to set up an Integrated Support and Advice Project (ISAP), that would support people in unstable and low-income employment. Covid-19 has affected some of the project’s objectives and targets due to the change in delivery methods, however both agencies have continued to advise the NLCF of the measures taken to reprofile the project and grant funding has been unaffected during this time. The trustees and senior management of both charities are jointly reviewing our partnership arrangement to ensure that ISAP continues to be delivered effectively to our clients.
Investment powers and policies
Under the Memorandum and Articles of Association, the charity has power to invest in any way the trustees wish.
The trustees, having regard to the liquidity requirements of operating the Bureau and to the reserves policy have operated a policy of keeping surplus funds in interest bearing deposit accounts and to seek to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index.
Reserves policy
It is the policy of the charity to aspire to maintain unrestricted funds, which are the free reserves of the charity, at a level that equates to six months unrestricted expenditure. The trustees agreed that the growth and development of Milton Keynes Citizens Advice Bureau’s activities made it prudent to aim to have this level of reserves whilst accepting that the main purpose and function of the service should at no time be compromised or jeopardised in pursuit thereof. The trustees also agreed that the Bureau will continuously strive to make improvements to the services it provides whilst delivering these services as cost effectively as possible.
The actual reserves are £408,192, which includes unrestricted funds of £348,448. This equates to nine months unrestricted expenditure. Within the unrestricted funds, the trustees have designated funds of £91,101 (2019/20: £62,862). These were set up by the trustees to deal with future potential statutory financial commitments such as redundancy costs totalling £34,700 (2019/20: £29,900), the potential costs of having to relocate the operations of £33,000 (2019/20: £33,000) if funding decreases significantly and the write-down of fixed assets of £23,400 (2019/20: £nil) currently held by the Bureau. With the increased uncertainty over funding in the next two years the trustees are clear that this level of unrestricted reserves is necessary.
The Bureau’s reserves include restricted funds of £59,744, comprising funds received by the bureau for the Integrated Support and Advice Project (£32,860) and Digital Drop-In project (£26,884).
The trustees are confident that the Bureau is able to continue to meet its liabilities as they fall due for the next year and that the accounts should be prepared on a going concern basis.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Plans for future periods
This plan considers many of the known external factors and challenges that impact on both the service and the lives of local people and, for 2021 at least, we know that Coronavirus will be the greatest of these.
This plan, like those before it, seeks to meet the emergent needs of the community and follow wider developments such as increased take up of welfare benefits, rising unemployment and unstable work, local population increase, housing shortages and the increasing role of digital technology in the lives of ordinary people. Above all we believe our objectives are crucial in helping us to improve and advance inclusion and accessibility across the service.
Discussions with Works for Us on the future of the Integrated Support and Advice Project are continuing and the Trustees of both charities believe that the best way to ensure that an effective and integrated service continues to be provided to our clients in Milton Keynes is for the charities to merge during the 2021-2022 year. We believe that for CAMK it will both provide additional financial stability and opportunities in the future plus provide additional staff with skills and expertise in employment and employability. Employment is already an area where we are receiving more requests for assistance from clients. Work on the merger will continue and will be fully reported in the next Annual Report.
In addition to the above we will remain alert to opportunities that are not strictly in alignment with our strategic priorities but if secured will aid our fundamental charitable objectives. The plan also seeks to meet the strategic priorities of the National Citizens Advice service in general, as well as address local issues such as the increase in the number of people living in temporary accommodation, and the increasing numbers of children under 14 who are living in poverty in Milton Keynes.
To date, the single biggest contract that the Bureau operates is the grant with National Citizens Advice/DWP via our Help to Claim Service. Renewal of this funding is subject to negotiations undertaken on our behalf by the National Association. This has so far been on an annual basis and to an extent is influenced by central government’s policy on the continuing development of welfare reform and Universal Credit. Our main influence over the continuation of this funding is to ensure compliance with the main KPIs for delivery of Help to Claim in relation to client volumes and quality of advice and service. As mentioned, the forthcoming recommissioning process presents us with a challenging situation over which we have very little control. The loss of this funding would require us to undertake a major restructure of the organisation.
Milton Keynes Council has yet to provide any further information surrounding its long terms plans (if any) for independent generalist advice services. This remains an area of funding where the local authority appears to have no clear long-term strategy. It has instead focused on areas of more specialised support to more vulnerable groups of people. In this instance we have enjoyed success with the extension of AISVA to 2023 and the launch of HPSS in October 2020. We aim to inform the council’s strategy on delivery of these services in the longer term through our robust and comprehensive monitoring and data, research, and client testimony. Our immediate priority is to secure an extension of the HPSS after October 2021.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Plans for future periods (continued)
The Bureau re-established its ‘Friends’ organisation in 2015 to develop annual fundraising activities. Several small-scale activities have taken place each year including a swimathon and collections at local events such as firework displays. The events of the last year have seen community fundraising decline across all the charity sectors. We have undertaken no such activities in 2021/21 but looking ahead to 2021/22, the bureau will celebrate its 50[th] Anniversary at the end of the forthcoming financial year and this may present an opportunity to restart some of these activities should the situation with Covid-19 have improved.
As the NHS continues to search for ways to make efficiency savings and explores the potential of social prescribing, the Bureau has tried to position itself as a trusted partner that is best able to divert a number of unnecessary enquiries away from frontline medical services through a cost effective delivery model. A pilot project – ‘’Advice on Prescription’’ ran initially throughout 2018 /19 and then again in 2019/20 involving two GP Surgeries in Milton Keynes – both surgeries funded this service directly and decided to extend a remote version of the service during the pandemic. A further 4 GP Surgeries in the East MK Primary Care Network began discussions with us at the end of 2020/21 about purchasing an advice service in 2021/22.
Following a continued strong performance on our Macmillan Project, the Bureau succeeded in securing funding from Macmillan until December 2021 which allowed us to continue operating our service to help people with cancer and their families. We have been advised that a longer-term funding agreement should be reached in the Summer of 2021.
The Director is involved in discussion with the local Community Infrastructure provider, Community Action MK, who are leading discussion around the development of a local Voluntary Sector Alliance amongst local charities and social enterprises in Milton Keynes. The alliance might, in theory, become a vehicle to bid for and attract larger amounts of funding into the local voluntary sector and this collaborative model aligns with our wider ambition to build on the track record of recent partnership working and improve services for local people.
The Director, Head of Service, Casework Manager, Service Engagement Officer and Trustees, are all aiming to expand the bureau’s levels of representation at local stakeholder forums and partnerships. These include but are not limited to:
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Milton Keynes Homelessness Partnership (Member Agency)
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Milton Keynes Mental Health Partnership Board (Member Agency)
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Milton Keynes Health and Wellbeing Board (In Attendance)
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Milton Keynes Child Poverty Partnership (Member Agency)
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Milton Keynes Voluntary Sector Alliance – Steering Group (In Attendance)
The Bureau will continue to apply for other grants and contracts that align with its overall mission and objectives. Beyond the ‘core work’ of the organisation there continue to be opportunities and grants that support divergence into more preventative areas of work that broaden the range of services to the benefit of the local population. These include - digital inclusion, energy advice, community cohesion, employability and skills, and support for people with mental health problems. The Bureau has taken steps in the last 12 months to align itself closer to these objectives and has referenced many of these in its 2021 -24 Strategic Business Plan. We will continue to develop these themes as part of our future service provision.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Trustees’ responsibilities in relation to the financial statements
The trustees (who are also directors of Milton Keynes Citizens Advice Bureau) for the purposes of company law are responsible for preparing the Report of the trustees and the financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the charitable group for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with 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 financial statements are published on the Milton Keynes Citizens Advice Bureau’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of consolidated financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Milton Keynes Citizens Advice Bureau’s website is the responsibility of the trustees.
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Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees)…continued For the year ended 31 March 2021
Disclosure of information to the independent examiners
So far as the trustees are aware, there is no relevant information of which the company’s independent examiners are unaware. The trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant information and to establish that the company’s independent examiners are aware of that information.
Appointment of independent examiners
A resolution will be proposed at the Annual General Meeting that Mazars LLP be reappointed as independent examiners to the charity for the ensuing year.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved and authorised for issue by the board on 19 July 2021 and signed on its behalf by:
Christopher Parsons Director (trustee) Date: 29 October 2021
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Independent Examiner’s Report to the members of Milton Keynes Citizens Advice Bureau
I report on the primary financial statements (statement of financial activities, statement of cash flows, balance sheet and related notes) for the year ended 31[st] March 2021 set out on pages sixteen to thirty-five.
This report is made solely to the members, as a body, in accordance with Section 154 of the Charities Act 2011 (the 2011 Act). My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees, as a body, for my work, for this report, or for the opinions I have formed.
Respective responsibilities of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants in England and Wales.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under Section 145 of the 2011 Act;
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to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
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to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
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Independent Examiner’s Report to the members of Milton Keynes Citizens Advice Bureau
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Vincent Marke FCA
for and on behalf of Mazars LLP, Chartered Accountants
The Pinnacle 160 Midsummer Boulevard Milton Keynes MK9 1FF
Date: 9 December 2021
15
Company Registration No: 2265182
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Statement of financial activities For the year ended 31 March 2021
| Unrestricted funds Notes £ Income and endowments from: Donations and legacies 6 10,163 Charitable activities 6 512,521 Investments 8 95 Total income 522,779 Expenditure on: Raising funds 9 15,170 Charitable activities 9 439,401 Total expenditure 454,571 Net income 68,208 Transfers between funds 60,397 Net movement in funds 20 128,605 Total funds brought forward 20 219,843 Total funds carried forward 20 348,448 |
Restricted funds £ - 203,201 - 203,201 - 121,329 121,329 81,872 (60,397) 21,475 38,269 59,744 |
Total 2020/ 2021 £ 10,163 715,722 95 725,980 15,170 560,730 575,900 150,080 - 150,080 258,112 408,192 |
Total 2019/ 2020 £ 9,446 621,733 488 |
|---|---|---|---|
| 631,667 | |||
| 15,177 501,575 |
|||
| 516,752 | |||
| 114,915 - |
|||
| 114,915 143,197 |
|||
| 258,112 |
16
Company Registration No: 2265182
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Balance sheet As at 31 March 2021
| Notes Fixed assets Tangible assets 15 Current assets Debtors 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Provisions for liabilities 19 Net assets Income funds Unrestricted Advice Services Designated 20 Restricted 22 |
2020/2021 £ 23,392 23,392 31,819 365,546 397,365 (8,185) 389,180 (4,380) 408,192 257,347 91,101 348,448 59,744 408,192 |
2019/2020 £ 25,075 |
|---|---|---|
| 25,075 | ||
| 43,891 226,024 |
||
| 269,915 (36,878) |
||
| 233,037 | ||
| - | ||
| 258,112 | ||
| 156,981 62,862 |
||
| 219,843 38,269 |
||
| 258,112 |
17
Company Registration No: 2265182
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Balance sheet As at 31 March 2021
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for:
(a) ensuring that the company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006; and
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved and authorised for issue by the board on 19 July 2021 and signed on its behalf by:
Christopher Parsons Director Date: 29 October 2021
The notes on pages 21 to 35 form part of these financial statements.
18
Company Registration No: 2265182
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Statement of cash flows For the year ended 31 March 2021
| Cash flows from operating activities: Net cash provided by operating activities Cash flows from investing activities: Dividends, interest and rents from investments Purchase of property, plant and equipment Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2020/2021 £ 155,039 95 (15,612) (15,517) 139,522 226,024 365,546 |
2019/2020 £ 123,716 |
|---|---|---|
| 488 (23,051) |
||
| (22,563) | ||
| 101,153 124,871 |
||
| 226,024 |
Reconciliation of net income / (expenditure) to net cash flow from operating activities For the year ended 31 March 2021
| Net income / (expenditure) for the reporting period Adjustments for: Depreciation charges Dividends, interest and rents from investments Decrease in debtors (Decrease) in creditors Net cash provided by operating activities |
2020/2021 £ 150,080 17,295 (95) 12,072 (24,313) 155,039 |
2019/2020 £ 114,915 7,061 (488) 98,634 (96,406) |
|---|---|---|
| 123,716 |
19
Company Registration No: 2265182
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Analysis of cash and cash equivalents For the year ended 31 March 2021
| Cash in hand and at bank Cash deposit accounts Total cash and cash equivalents |
2020/2021 £ 285,719 79,827 365,546 |
2019/2019 £ 146,197 79,827 |
|---|---|---|
| 226,024 |
Analysis of changes in net debt For the year ended 31 March 2021
| Cash in hand and at bank Cash deposit accounts TOTAL |
At start of year Cash flows £ £ 146,197 139,522 79,827 - 226,024 139,522 |
At end of year £ 285,719 79,827 |
|---|---|---|
| 365,546 |
Comparatives for analysis of changes in net debt
| Cash in hand and at bank Cash deposit accounts TOTAL |
At start of year Cash flows £ £ 45,044 101,153 79,827 - 124,871 101,153 |
At end of year £ 146,197 79,827 |
|---|---|---|
| 226,024 |
20
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
1. General information
Milton Keynes Citizens Advice Bureau is a registered charity and company limited by guarantee, incorporated in England and Wales. The address of its registered office and principal place of business is disclosed in the company information on page 1.
The principal activity of the charity is to provide free, confidential, impartial and independent advice for the benefit of the local community.
The financial statements are presented in Sterling and this is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
2. Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable company’s financial statements.
(a) Basis of preparation
The charitable company is the parent undertaking of a small group and, as such, is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the charitable company and an individual undertaking and not about its group.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Milton Keynes Citizens Advice Bureau meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The principal accounting policies adopted in the preparation of the financial statements are set out below.
(b) Going concern
The financial statements have been prepared on a going concern basis since the Trustees are confident that the Bureau is able to continue to meet its liabilities as they fall due for the next year after the accounts have been signed.
21
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
(c) Judgements in applying accounting policies and key sources of estimation uncertainty
In applying the company’s accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
The key estimates and assumptions made in these accounts are the allocation of central support costs which are allocated on a basis using an estimated time and effort percentage.
(d) Income
Income including donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with reasonable reliability. Such income is only deferred when:
-
The donor specifies that the grant or donation must only be used in future accounting periods; or
-
The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Investment income is recognised on a receivable basis.
Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.
(e) Volunteers and donated services and facilities
The value of services provided by volunteers is not incorporated into these financial statements.
Where services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is based on the value of the contribution to the charity.
22
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
(f) Expenditure
Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.
-
Charitable activities are the costs of operating the Milton Keynes Citizens Advice Bureau excluding governance costs.
-
Governance costs include those costs incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements such as audit fees.
(g) Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
(h) Operating leases
Rentals payable under operating leases are charged on a straight-line basis over the term of the leases.
(i) Investments
Financial investments are held at market value. The overall net gain or loss on revaluation is shown in the statement of financial activities. Investments in subsidiaries are shown at historical cost.
(j) Cash and Cash equivalents
Cash and cash equivalents are cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(k) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction values and subsequently measured at their settlement value.
23
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
2. Accounting policies (continued)
(l) Tangible fixed assets
All assets costing more than £250 are capitalised at cost and depreciated. Assets other than computer equipment are depreciated over periods of three to five years on a straight-line basis. Computer equipment is depreciated over two years.
Assets that are acquired with the aid of specific capital grants are capitalised and the relevant grant treated as restricted income.
(m) Funds structure
Restricted funds are funds where the donor requires that a donation must be spent on a particular purpose or where funds have been raised for a specific purpose. The permanent endowment fund is a particular type of restricted fund which must be held permanently and the capital of the fund maintained. All other funds are restricted income funds.
(n) Pension costs
Contributions payable to the defined contribution pension scheme are charged to the profit and loss account in the period to which they relate.
3. Legal status of the Milton Keynes Citizens Advice Bureau
The charitable company is limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1.
4. Activities in furtherance of the charity’s objects
All revenue, net income before taxation and net assets is derived from the charity’s principal activity, entirely in the UK.
24
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
5. Statement of financial activities for the year ended 31 March 2020
| Unrestricted funds Notes £ Income and endowments from: Donations and legacies 6 9,446 Charitable activities 6 440,341 Investments 8 488 Total income 450,275 Expenditure on: Raising funds 9 15,177 Charitable activities 9 394,898 Total expenditure 410,075 Net (expenditure) / income 40,200 Transfers between funds 37,577 Net movement in funds 20 77,777 Total funds brought forward 20 142,066 Total funds carried forward 20 219,843 |
Restricted funds £ - 181,392 - 181,392 - 106,677 106,677 74,715 (37,577) 37,138 1,131 38,269 |
Total 2019/ 2020 £ 9,446 621,733 488 |
|---|---|---|
| 631,667 | ||
| 15,177 501,575 |
||
| 516,752 | ||
| 114,915 - |
||
| 114,915 143,197 |
||
| 258,112 |
25
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
6. Income
The following schedule sets out information concerning the major revenue grants received in the year:
| Charitable activities Milton Keynes Council Revenue and Benefits Service Milton Keynes Council Advice and Information Service – Vulnerable Adults Milton Keynes Council Homelessness Advice & Information Service Milton Keynes Council Covid 19 grant NACAB Universal Credit – Help to Claim NACAB BEIS grants NACAB Energy Best Deal GP Surgeries Parish and Town Councils Macmillan Outreach Funding Money Advice Service Face to Face Debt Advice Restricted Fund Big Lottery Fund – Community Fund Restricted Fund Big Lottery Fund – Integrated Support and Advice Project Restricted Fund Milton Keynes Community Foundation – The Mix Transformation Project Restricted Fund Milton Keynes Community Foundation – Digital Drop-In Restricted Fund The David Family Foundation – Digital Drop-In Project Restricted Fund Bletchley & Fenny Stratford Town Council – Digital Drop-In Project Restricted Fund Milton Keynes Council – Integrated Support and Advice Project Restricted Fund Milton Keynes Community Foundation – Integrated Support and Advice Project Restricted Fund Milton Keynes Community Foundation – Anglian Water Fund Restricted Fund Other |
2020/2021 £ 100,000 48,744 59,100 7,980 212,026 41,365 - 3,125 5,727 34,434 113,992 - 55,119 5,326 20,930 3,300 4,534 - - - 20 715,722 |
2019/2020 £ 100,000 49,189 - - 206,562 - 583 6,500 41,076 34,272 88,166 8,944 27,802 11,500 - - - 25,000 15,000 4,980 2,159 |
|---|---|---|
| 621,733 |
26
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
6. Income (continued)
| Donations and legacies Donations 7. Analysis of Movement in deferred income Balance at 1 April Net movement for the year Balance at 31 March 8. Investment income Interest receivable on cash deposits 9. Expenditure Raising funds Staff costs |
2020/2021 £ 10,163 2020/2021 £ 5,625 (5,625) - 2020/2021 £ 95 2020/2021 £ 15,170 |
2019/2020 £ 9,446 |
|
|---|---|---|---|
| 2019/2020 £ 101,833 (96,208) |
|||
| 5,625 | |||
| 2019/2020 £ 488 |
|||
| 2019/2020 £ 15,177 |
27
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
9. Expenditure (continued)
| Costs of activities in furtherance of the charity’s objects Staff costs Premises expenses Telephone Printing, postage and stationery Office Equipment Staff training and travel Costs of volunteers Publications, subscriptions and insurance Computer expenses Finance Support and Agency costs Professional fees Publicity and Marketing Independent Examiner fees Depreciation Disbursements Irrecoverable VAT Other expenses 10. Net income for the year Net income for the year is stated after charging: Independent Examiner’s remuneration Depreciation Operating lease rentals - Land and buildings - Other |
2020/2021 £ 403,434 44,401 8,567 8,048 6,952 7,845 461 8,183 13,193 17,948 720 2,294 2,000 17,295 - 16,345 3,044 560,730 2020/2021 £ 2,000 17,295 34,405 6,202 |
2019/2020 £ 319,305 51,614 9,942 14,681 6,790 10,419 8,856 8,489 15,187 19,295 644 5,997 2,000 7,061 803 16,183 4,309 |
|---|---|---|
| 501,575 | ||
| 2019/2020 £ 2,000 7,061 35,647 5,824 |
28
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
11. Employees
| Staff costs Wages and salaries Social security costs Pension costs |
2020/2021 £ 386,869 23,404 8,331 418,604 |
2019/2020 £ 309,635 18,350 6,497 |
|---|---|---|
| 334,482 |
No employee received remuneration of more than £60,000 (2020: Nil).
The total remuneration of one key management personnel was £40,000 (2020: £40,000).
12. Trustees/directors remuneration
The trustees/directors are not remunerated (2019/20: £nil). No trustees/directors were reimbursed expenses during the year (2019/20: £404).
The charity purchased professional indemnity and public liability insurance during the year to indemnify employees and directors against liabilities arising as a result of negligence. The cost of this insurance was £1,891 (2019/2020: £1,884).
13. Staff numbers
The average number of persons employed by the charity (including directors) during the year was as follows:
| Full-time equivalent Employed staff |
2020/2021 2019/2020 Number Number 16.9 13.5 21 18 |
|---|---|
14. Taxation
As the charitable company is a registered charity, its income under schedule D is exempt from taxation, subject to the provisions of section 505 of the Income and Corporation Taxes Act 1998.
29
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
15. Tangible fixed assets
| Cost At 1 April 2020 Additions At 31 March 2021 Depreciation At 1 April 2020 Charge for the year At 31 March 2021 Net Book Values At 31 March 2021 At 31 March 2020 |
Leasehold Improvements £ 46,528 - 46,528 38,260 1,907 40,167 6,361 8,268 |
Fixtures, fittings and furniture £ 19,942 2,635 22,577 17,281 1,921 19,202 3,375 2,661 |
Telephone and computer equipment £ 69,247 12,977 82,224 55,101 13,467 68,568 13,656 14,146 |
Total £ 135,717 15,612 |
|---|---|---|---|---|
| 151,329 | ||||
| 110,642 17,295 |
||||
| 127,937 | ||||
| 23,392 | ||||
| 25,075 |
16. Other investments - Company
The charitable company has a dormant trading subsidiary – Milton Keynes Citizens Advice Bureau (Trading) Limited, a single member company limited by guarantee. The sole member of this company is Milton Keynes Citizens Advice Bureau, and this charitable company stands as guarantor to the sum of £1.
17. Debtors
| Trade debtors Other debtors Taxation Prepayments and accrued income |
2020/2021 £ 3,942 19 1,471 26,387 31,819 |
2019/2020 £ 29,136 54 1,353 13,348 |
|---|---|---|
| 43,891 |
30
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
18. Creditors: amounts falling due within one year
| Trade creditors Other creditors Social security Accruals and deferred income |
2020/2021 £ 4,158 90 - 3,937 8,185 |
2019/2020 £ 22,009 180 5,798 8,891 |
|---|---|---|
| 36,878 |
19. Provision for liabilities
The trustees/directors have set up a provision of £4,380 (2019/20: £nil). This represents one month of the Bureau Director’s salary costs that would be paid if they were to leave the Bureau.
20. Analysis of movements in funds
Balance at 1 April 2020 Net income for the year Transfers for the year Balance at 31 March 2021 |
Unrestricted income funds £ 219,843 68,208 60,397 348,448 |
Restricted income funds £ 38,269 81,872 (60,397) 59,744 |
Total £ 258,112 150,080 - |
|---|---|---|---|
| **408,192 ** |
Transfers from Restricted Funds
Provision is made in the majority of restricted funding projects for management and administration costs. These costs are borne by unrestricted funds and then an appropriate transfer is made in accordance with the funding contract on an annual basis.
31
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
20. Analysis of movements in funds (continued)
Comparatives for analysis of movements in funds
Balance at 1 April 2019 Net income for the year Transfers for the year Balance at 31 March 2020 |
Unrestricted income funds £ 142,066 40,200 37,577 219,843 |
Restricted income funds £ 1,131 74,715 (37,577) 38,269 |
Total £ 143,197 114,915 - |
|---|---|---|---|
| 258,112 |
21. Analysis of net assets between funds
Fixed assets Current assets Current liabilities Provision for liabilities Balance at 31 March |
Unrestricted income Funds Restricted income Funds £ £ 23,392 - 337,621 59,744 (8,185) - (4,380) - 348,448 59,744 |
Total 2021 £ 23,392 397,365 (8,185) (4,380) **408,192 ** |
Total 2020 £ 25,075 269,915 (36,878) - |
|---|---|---|---|
| 258,112 |
The unrestricted fund includes designated funds of £91,101 (2019/20: £62,862). These were set up by the trustees to deal with future potential statutory financial commitments such as redundancy costs totalling £34,700 (2019/20: £29,900), the potential costs of having to relocate the operations of £33,000 (2019/20: £33,000) if funding decreases significantly and the write-down of fixed assets of £23,400 (2019/20: £nil) currently held by the Bureau.
Comparatives for analysis of net assets between funds
Fixed assets Current assets Current liabilities Balance at 31 March |
Unrestricted income Funds Restricted income Funds £ £ 25,075 - 231,625 38,290 (36,857) (21) 219,843 38,269 |
Total 2020 £ 25,075 269,915 (36,878) |
|---|---|---|
| 258,112 |
32
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
22. Analysis of restricted funds
| Money Advice Service Face to Face Debt Advice Integrated Support and Advice Project The Mix Transformation Project Anglian Water Watersure Fund Digital Drop-In |
Balance as at 01 April 2020 Incoming Resources £ £ - 113,992 31,419 55,119 1,870 5,325 4,980 - - 28,765 38,269 203,201 |
Outgoing Resources £ (71,929) (40,449) (7,070) - (1,881) (121,329) |
Transfers £ (42,063) (13,229) (125) (4,980) - (60,397) |
Balance as at 31 March 2021 £ - 32,860 - - 26,884 |
|---|---|---|---|---|
| 59,744 |
Restricted funding continued to be received for the Money Advice Service Face to Face Debt Advice project, which was in partnership with the National Association. This supports the delivery of free to client face-to-face debt advice in the most financially excluded geographical areas and to the most financially excluded social groups.
Restricted funding was received from the Big Lottery Fund for the Integrated Support and Advice project. This project aims to support people in unstable and low-income employment.
A restricted grant was received from Milton Keynes Community Foundation for The Mix Transformation Project. This project aims to create development and sustainability for the Mix through the use of the Bureau as the parent charity.
A restricted grant was received from Milton Keynes Community Foundation Anglian Water Watersure Fund to provide community outreach to vulnerable and disadvantaged people who are possibly struggling financially or in need of special assistance.
Restricted funding was received from Milton Keynes Community Foundation, The David Family Foundation and Bletchley and Fenny Stratford Town Council for the Digital Drop-In project. This project will enable people in Milton Keynes to access one of the Bureau’s advisers via a secure video platform, without a prearranged appointment. It is designed to work in tandem with the Burreau’s improved and expanded advice services which have been delivered by telephone , email and webchat since the pandemic began.
33
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
22. Analysis of restricted funds (continued)
Comparatives for analysis of restricted funds
| Money Advice Service Face to Face Debt Advice Integrated Support and Advice Project The Mix Transformation Project Anglian Water Watersure Fund Big Lottery Fund (The National Lottery Community Fund) The Jim Marshall Charitable Trust |
Balance as at 01 April 2019 Incoming Resources £ £ - 88,166 - 67,802 - 11,500 - 4,980 - 8,944 1,131 - 1,131 181,392 |
Outgoing Resources £ (59,512) (29,184) (8,013) - (8,837) (1,131) (106,677) |
Transfers £ (28,654) (7,199) (1,617) - (107) - (37,577) |
Balance as at 31 March 2020 £ - 31,419 1,870 4,980 - - |
|---|---|---|---|---|
| 38,269 |
Restricted funding continued to be received for the Money Advice Service Face to Face Debt Advice project, which was in partnership with the National Association. This supports the delivery of free to client face-to-face debt advice in the most financially excluded geographical areas and to the most financially excluded social groups.
Restricted funding was received from the Big Lottery Fund, Milton Keynes Council and Milton Keynes Community Foundation for the Integrated Support and Advice Project. This project aims to support people in unstable and low-income employment.
A restricted grant was received from Milton Keynes Community Foundation for The Mix Transformation Project. This project aims to create development and sustainability for the Mix through the use of the Bureau as the parent charity.
A restricted grant was received from Milton Keynes Community Foundation Anglian Water Watersure Fund to provide community outreach to vulnerable and disadvantaged people who are possibly struggling financially or in need of special assistance.
A restricted grant was received from the Big Lottery Fund for a Volunteer Mediators Project to cover volunteer and training expenses.
A restricted grant was received from The Jim Marshall Charitable Trust to cover the cost of new IT equipment for the Bureau.
34
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2021
23. Pension costs
In October 2015, the Bureau launched a NEST pension scheme to comply with its Auto Enrolment obligations. Amounts paid by the Bureau during the year totalled £8,331 (2019/2020: £6,497) and amounts owed at the year end were £nil (2019/2020: £nil).
Contributions are charged to the charitable activities on which the employee has been engaged during the financial year.
24. Financial commitments
At 31 March 2021 the charity was committed to making the following payments under noncancellable operating leases in the year to 31 March 2022:
| Land and buildings 2020/2021 2019/2020 £ £ Operating leases which expire: Within 1 year 9,126 9,126 Between 2 and 5 years 2,282 2,282 |
Other 2020/2021 2019/2020 £ £ 5,390 5,665 9,432 2,832 |
|---|---|
24. Related party transactions
Advantage has been taken of the exemption conferred by section 33 of FRS 102 not to disclose all transactions with other group companies.
25. Post balance sheet event
Discussions with Works for Us on the future of the Integrated Support and Advice Project are continuing and the Trustees of both charities believe that the best way to ensure that an effective and integrated service continues to be provided to our clients in Milton Keynes is for the charities to merge during the 2021-2022 financial year. Work on the merger of the two charities is continuing and, at present, it is not possible to estimate the financial impacts of the merger on the Bureau.
35
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Detailed statement of financial activities For the year ended 31 March 2021
| Unrestricted funds Restricted funds £ £ Income and endowments from: Donations and legacies 10,163 - Grants and contracts 512,521 203,201 Investments 95 - Total income 522,779 203,201 Expenditure on: Salary related costs 306,440 112,164 Premises expenses 43,402 999 Telephone 7,955 612 Print, post, stationery 7,821 227 Office equipment 6,952 - Staff training and travel 7,521 324 Volunteer costs 461 - Publications etc. 8,183 - IT costs 10,400 2,793 Finance and agency 14,117 3,831 Professional fees 660 60 Publicity and Marketing 2,195 99 Depreciation 17,295 - Independent Examiner fees 2,000 - Disbursements - - Other expenses 2,824 220 Irrecoverable VAT 16,345 - Total expenditure 454,571 121,329 Net income 68,208 81,872 Transfers between funds 60,397 (60,397) Net movement in funds 128,605 21,475 Funds at 1 April 219,843 38,269 Funds at 31 March 348,448 59,744 |
Total 2020/ 2021 £ 10,163 715,722 95 725,980 418,604 44,401 8,567 8,048 6,952 7,845 461 8,183 13,193 17,948 720 2,294 17,295 2,000 - 3,044 16,345 575,900 150,080 - 150,080 258,112 **408,192 ** |
Total 2019/ 2020 £ 9,446 621,733 488 |
|---|---|---|
| 631,667 | ||
| 334,482 51,614 9,942 14,681 6,790 10,419 8,856 8,489 15,187 19,295 644 5,997 7,061 2,000 803 4,309 16,183 |
||
| 516,752 | ||
| 114,915 - |
||
| 114,915 143,197 258,112 |
This page does not form part of the statutory financial statements
36