Company Rogistration No: 2265182 Reglstered Charlty No: 800012 Unaudlted Report and Flnanclal Statements Milton Keynes Citizens Advice Bureau (A company limited by guarantee and not havlng a share capital) For the year ended 31 March 2022 A¢orn House 361 Midsummer Boulevard Central Milton Keynes MK9 3HP
Milton Keynes Citizens Advice Bureau Contonts Report of the directors ltrusteesl 1-14 Report of the independent examiner 15-16 Stalgmenl of financlal acllvlues 17 Bal8nce sheet 18-19 Statement of cash flo 20-21 Notes to flnancS8l Btatsmgnls 22-37 08tslled staloment of fin8ncial act5183 38
Milton Keynes Citizens Advice Bureau (a charitable company limlted by guarantee) Report of the directors (trustees) For the year ended 31 March 2022 Th¢ dircclors {trustee8) have pleasure in presenting their report and financial stale]nents for the year ended 31 March 2022. Referenet And administrAtlve d¢t4118 Registered charity name: Milton Keynes Citizens Advice Bureau Charity number: Company number.. 800012 2265182 Re8i5tered and principal office: Acorn House. 361 Midsummer Boulevard, Cenlral Milion Keynes. MK9 3HP Bankers,. Barclays Bank plc, PO Box 170. Winlerhill. Milton Kwies, MK6 IAL CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Mollin¥, ME19 4JQ Unity Trust Bank, PO Box 7193, Planetary Road, Willenhall, WVI 9DG Independent Examiner: David Hoose, Mazars LLP, The Pirmacle, 160 Midsvmm¢r Boulevard. Milton Kcyncs, MK9 1 FF Directors and tru$ltt8', The director8 OF the charitable ¢ompAny (the charity) are its tru8lee8 for the purpose of charity law and throughout this report. are collectively r¢ferr¢d lo as the trustees. The trustees Serving durin¥ the year and 8ince th¢ year end were as follows: Christoph¢r Parsons (Chairl Chorlolle Derry (TaSurer) Anthony Aslllllore {re8i¥ned 08 November 2021) Jenny Brighton TAriq Raja (&ppoint¢d 26 April 2021) Vanda Ranyard {resigned 22 April 2022) Naomi Webb (appointed 26 April 2021) Alexa Wilkinson (appointed 28 mUb 2022) All directors members OF the charitable company and stand as guarantors of the charitabl¢ Gompany in the sum of £1 each. None of the directors hBve any beneficial interest in the charitable company. Bureau Dtre¢tor.' Ben Thoma8 Company SecretAry: Kevin Smith
Mllton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .Gontinued For the year ended 31 March 2022 Structure, GovernAnee and Manxgement Governing do¢t4pn8n¢ Milton Keynes CilizeTJ8 Advice Bureau is a company limil¢d by guarantee governed by ils Memorandum ¥nd Articles of Associalion. Appf)in¢pnenl of Tn4&te Milton Keynes Ciliz¢n8 Advice Bureau through its equal opportunity policy is committed to ensuring that p¢ople froin different c()mmunities and backgrounds ar¢ not disadvantaged by their gend¢r. race, ethnic origin or colour, by a di8abilily. by their sexual oricntaiion, their mariial status or by their age. li aims lu ruit, select and retain Irusi¢es that rOgnIse the diverse so¢i¢ty in which it operates. The llUTnkr of truste¢8 15 limited 10 a maximum of twelve and a rniThimum of four. Trn8tees are ¢le¢ted al the annual general mccling or co-opted by thv Trustee Board (provided ihat the lofal number of COwQPted nd nominaied trusl¢¢s do&8 not exceed four). All ¢]led trustees shall retire from office at the third annual general m¢eting following the annual general meeting at which Ih¢y were elected, bul they m&y be re-appointed. Trustee8 may not serve more than a toial of nine years unl¢ss there are exceptional ¢iwumstanccs. Trlee induclinn and ir(iinirtg Upon appoinlment & pro¥ramm¢ of induction and training is prepur¢d for new trustees. As well as a locally pr¢pared progrumme (hcrc is also a programme of induction and training provided through the Naliunal A850rialion And new truslee8 undvrtake l)oih. Trustee8 al80 undertake regular training each year. Organlsatinn The tnjstees are selecied and appointed in accordance wilh th¢ Article8 of Millon Kcyna Citizens Advice Bureau. They meet as a Board approximately every two rnonths ond produce fornial minutes of Ih¢ir meetlDgS. In addition, suOup5 are appointed to consider sp¢¢ifi¢ issues And report back to the Board with recomtnendalions. Th¢ Chair and Treasuw meet with the Bureau Director on a monthly basis to review budg¢t and perfom]an¢e infonnation. The Treasur¢r r¢wrts the outcome to the next Board meeting. Indemnity iPLsurance The charity purchased prof¢s8ional indemnity and public liobility insurance during the year lo indemnify employees against liabilities arising as a result of negligence. The cost of this insurance was £2.280 (202012021.. £1.572). Th¢ ¢harity also purchased dir¢ctors and officer liability insuran¢¢ lo indemnify trustees against legal liabilities. The cost of this insuranc¢ was £340 {2020121.. £319).
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .continued For the year ended 31 March 2022 Rela¢edpartie The charity's wholly owned subsidiary Milton Keynes Citizens Advice Bureau (Tradin8) Limited 18 currently domianl. It is the aim of the directors th&1 the company will receive income and carry out activiiies which are compliant with the obje¢ts of the parent charitable company, Milton Keynes Citizens Advice Bureau. Any surplus generated from these activities is donaled to the Charity under the Gift Aid Scheme. The Bur¢au remains an a5sociat¢d membcr of the National Association of Citizens Advice Bureaux lo whioh il pays an Annual fe¢. R¢muneralion The Bureau operal¢s a r¢tnui)eration policy wh¢reby an unnual percentag¢ award 15 consid¢r¢d for all directly employed staff. from 1st April each year. and that the individual percentage be 80 calculated ¢0 include.. a} Personal perfonnance of the employee. during the year Under review: and b) Financial perforniance ofihe Bureau &5 a whole durin8 the year. Given the siz¢ of the Organisation, th¢ tru81ees do noi believe that a Sel salary gcale for each post is appropriate or beneficifil. The average employe¢ h¢adcount during the financial year was 26 (full-lime equivalent was 20.6). No employee earn¢d in excess of £60,000 and the lotal remuneration paid io one key management empluyee during the year was £45,(KM). Ri.Ik pnunagemenl The tntett are aware OF the need lo ensure that all major risks to which th¢ ¢harily is cxposed, in particular, Ihose related lo the operations and the finances of the chdrity a a$s¢s$ed. The Iruste¢s usc a fornial risk manAg¢ment proce8S to ass$ risks and implement risk management 8trate8ies, The trustees monitor the changing circumstances of the Bureau on & corttinual b&sis so that new risks can be identified And addressed. This involves identifying th¢ types of risks the charity fac, priorili5ing them in ternis of tentIal impact and likelihood of o¢rurr¢nce, and identifying mcans of miti¥8ting the risk8. These pro¢¢dur¢s are periodically reviewed lo cn5ure that they still meet the needs of the charity. The key rtsks during this year have arisen from thc E4ftennath of the initial Covid-19 pandemic and 8ub8equent outbreaks of th¢ that have caus¢d disruplion to the servi¢¢g and operations delivered by the organi$ation. Action to mitig81¢ these risks have been undertak¢n ihroughout the year. These actions hav¢ in¢luded following all Governmcni and NBtionai Association Euidance and resulied in.. Risk a85essing and limiting all fa¢e-tO•fac¢ ¢lienl appointments and expanding telephone and digital services Staff working within a hybrid system that Mb]neS hom¢ as well 48 office-based working and that can bc adjusted at short notic¢ lo mitigate the risk of Vin transmission within th¢ workplace during so called 'virus peaks, Provision of masks and hand cl¢an8ing sanitiser for staff and visitors coming into the offic¢. Regular risk assessments were undertaken and issued to all staff and volunteers.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .continued For the year ended 31 March 2022 Th¢ trustees have identified the following key risks for the or8anisation along wilh th¢ mitigating actions to be undertaken: PoteDtifil Risk Funding olthe organisation Mltl atln A¢tlon$ Thc Bureau will continue to apply for grAnts and contra¢t8 thal align with its mission, obje¢tiv¢s and Sirat¢gi¢ Busines8 Plan. The ttuslees will ensu thai all future work undertaken by the Bur¢au does not regult in a depletion of its unre5tiiclcd resetv¢s. Loss of key staff The trustees are aware that the futur¢ su¢c¢ss of the Bureau is dependent on both ils staff and volunteers. Th¢ Bureau will continue to develop ils strategies for su¢cession planninbt along With appropriate HR policies and procedur¢s. Board dev¢lopment The Board has commenced action to expand the Board in size ai)d skill base to reflect th¢ Bureau'5 miysion as a diverse and inclusive organisalion. This &clion will continLie in the Coming year. ObJeetlve• #nd A¢tlvlties for the Publ1¢ Beneflt The obje¢ls of the charity ar¢: To provide th¢ udvice people need for the problems th¢y face; To improve rhe policies and pracli¢cs that affect pcoples, lives; To ensure individuals do not suffer through lack of knowledge of their rights and re8ponsibililie8 or through an in2bilily to exprcsy their needs effectivcly. Milton Keynes Citizens Advice Bureau has referred lo the guidance in th¢ Charity Commission's general guidance on Public Benefit when rcvicwing ils aims and obj¢¢lives and planning its future activili¢s. In particular, the tNslee$ ¢onsider how plann¢d a¢tivitie5 will contribut¢ to ihe aims and objectives they have 8el for the orgAnisE4tion, thus ¢nsuring publi¢ b¢nefit continues lo k delivered. Theprincipal artivity of the charity wntinues to be the provision of & free, impartial service of infornL8tion, guidan¢¢ and support, and lo ¢xercise a responsible influence on the development of social policies and servi¢e8 both locally and nationly. Any a¢lLVities whi¢h are provided outside lh¢ geographi¢al surrounding8 of Milton Keynes are carried out by the charity's trading subsidiary. It is th¢ intention of the trustees that th¢ rcsidual surplus of the trading subsidiary will be donated tu the ¢hority under the gift-aid rules. At present, no su¢h activities are takin8 place and the charity's tradingF subsidiary is dorniant.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees)...continued For the year ended 31 March 2022 Objectives and Activities for the Publle Benefit (continued) Milton Keynes Citizens Advice Bureau 8llPPOrted 8,149 people with 19JOI 8ubJect enqulrlcl during th¢ financial y¢ar. This r¢pres¢nted an increase in both ¢li¢nts and enquiries on the previous year. Welfar¢ ben¢fils, debt problerns and housing enquiries ntinUe to be thc major subject areas dtrdlt wilh by th¢ Bureau and constitute 72Q/o of all enquirits. Thc Bureau collects evidenc¢ of cli¢nts' proble]ns and uses this to carnpaign for changes in national and local policies and services. It plays a key role in speaking up for clients. raising issues brought into Ihe Bur¢au. conlributing to publi¢ debate und inforniing legislation. The charity's r¢sear¢h and campaigTJ work covers a huge range of issues including con5Limer, debt. housing, benefits, immigration, emplOnent, legal matters and health. Locally and nationally th¢ ¢harily works with poli¢yinakeTS, regulators, MPS, Lo¢al Gov¢TNncnt and service providers. Achlevements and perform4nce Milton Keyn¢s Citizens Advic¢ Bureau is a medium sized urban advice bureau Servicing a 0wIng rnetrop)lilan borough with a Cuent pU[all0n in exces8 of 260,000. The Bureftu providcs generalist and specialisi advice, guidan¢¢, supp)rt. digital Skills training and advocacy lo individuuls in need, Inany with complex financial. legal or pttsonal probl¢ms. During the financial year the organisation began Ihc gradual process ol reop¢ning some of its lace-to-face service that forn) part of 118 network of16 outreaches acr08s the melropolilan borough of Milton Keynes. This was in line with government guidance implemented over the year io 'unlock' the country frorn the majority of Covid r¢lat¢d re8triction8 and took account of m08t UK adults particltIng in a national vaccination pro8ramm¢. During the pandemic p¢riod, the day-to4lay use of our main office al Acom House lias hanged substantially. This meani that w¢ did not resume face to face $¢rvi¢¢s in the ¢ily ¢entre. opting lo use the premises for the delivery of advice via good quality. well-resourced alternativ¢ channels. Accordingly, advi¢e has Continu to be delivered throughout 2021122 via a mixture of delivery channels including lel¢phone, video call, webchat, email, and lexl, with the first face to fa¢e s¢s$ions resuming in the Aumn of 2021. A8 in previous years, the servicc continues to take third party r¢f¢rrals from all ils key partner agencies across the city including medical centres, hospitals. adult social care, COrnTnunily homeless teams and other voluntary sector ¥roup8. The charity is the primary provider of advice services in Milton Keyn and hislori¢ally ha8 been fundryj by Milton Keynes Council. In 2021122 we continued under our working arrdngcmcnl with the Customer Services department at Milton Keyn¢¥ Council to provide generalist advice lo individuals with debt, housing. 8ndb¢nefil problems. This otTan8em¢nt is renewed each year on an annual basis. The expenditure on thi8 service reduced Local Authority debt enforc¢TDcnt C08t6, reduced F*nefit admini51ralion 513, and ensured revenue owed to the Council wa5 recovered. Annually, this lunding is worth £IOO,000 to Milton Keyne5 Citizens Advice Bureau with savings in excess of £360.000 accruing to Milton Keynes Council. Milton Keynes Citizen8 Advic¢ Bureau received project funding in excess of £761.000 from five key funders which taken together ¢nAblcd a wide range of advlsory s¢rvices lo be provided based upon extensive accreditation, aperience, knowledge and inforniation system8.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees)...continued For the year ended 31 March 2022 A¢hievements and performance (contlnued) Al the end of 2021122 we were advised that funding from the local authority to operate a Homelessness Prevention Support S¢rviee (HPSS} was bein¥ exlended for a further 6 months from October 2021 to Maych 2022. The service Allowed for continued ¢ollaborntion between our8elves. Housing Support Ol¢Cr8 and Adult Social Care Icamg, lo r¢solve practical issues for people who are threatened with home1¢s8n&%s due lo severe financial problems and complex family ¢ir¢umstances. The exlension of thig projeet which had begun in October 2020, meant additional incomc from the local authority of £59,(M)O in the fin&1 two quarters of ¢hiJ finan¢i81 year. Taking this, and other council fundin¥ into consideration, 32•/o of our lunding came trom Milton Keynes Council during 2021122. In the 2021122 financial year w¢ advised 8,149 people about 19.301 issues. 470/0 required specialist Lasework inteentionS and 53 /u were resolved through IriA&y¢ or brief intervention. As wiih th¢ previous year, clievl Contacts were managd mainly through the telephone and video call channels as a di¢¢ r¢sult ol. Lonlinuing ¢ovid-19 restrictlOll8. Face lo face service8 did begin io resume on a risk asse88ed basis by S¢pt¢mber / October of 2021. Acr08s the borough alm03t 200/• of the child p)pulalion live8 in a low-income household. Ai least 3 in 4 of local workin8 people seeking advice from Citizens Advi¢¢ are in the ix)ttOTn-half of ¢h¢ in¢oine disiribulion, with a household income of less than £24.600 per year. Income data suggesis that £23,300 is Ihc average incomc p¢r locul taxpayer. De8Plte the continuin8 un¢¢rtainly created by Covid-19 and its wider impact L)n the ¢¢onomy the Bureau ontinues to develop and d¢liv¢r responsive, high-quality servic&s which are independ¢nily monitored and evaluated, and which retnaiv free, independent, confidcntial, and impurtial to everyon¢ regardless of age race> gender, disability, sexuality or religion. Advice and help will IK bTiven on any Subject without any preconceived attitude on the part of the Bureau. To redress inequalitie5, Milton K¢Yn Citizens Advice Bureau seeks to prnvide a variety of a¢¢¢ss rout&8 to servi¢¢$, thereby encouraging social inclusion and wcll-being for those who live and work in Milton Keynes. Following our contribution mad¢ in 2019 to the Milton K¢ynes Child Poverty Commission w¢ continue to play an active role in providing r¢prGsentation to the Mlllon Keynes Chlld Poverty Pllrtnershlp which has been $¢t up to look at way8 of addressing the issues highlighi¢d across Milton Keynes by Ihe commission report. Tackling inequalities 18 a broad area of work andin¢lud¢s many of the di8parili¢8 thal can be found among81 ople using health smiicu. fjHtalth IDequality' is ultimately about differences in the status of people's health, bu¢ the terni is also used to r¢fer lo differences in the Ca that people receive and the opportuniti¢8 that they have had to leod healthy lives - both of which can contribut¢ to their health status. Typically these opportunities (or a )k of them) are shaped by socio-economic factors such as where they liv< wh¢if they WO and how secure their accommodation and finances are. We've joined the Ml]ton Keynes Ment41 Ele8lth Alliance (iVLKMHA) which is a group of voluntary sectororganisations whose overarchingF aim o(collaboration is tneant to shift the focus of the health sysletn and comrnissi0ne onto the main so¢io-¢conomic factors that detemiine health inequalily. By doing this we hope to build together a Commiinity of Practice to Iranslaie Shar learning inw local action and attract sustainable funding to support the alliance m¢mbers.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .contlnued For the year ended 31 March 2022 A¢hievement8 and performance Icontinued) In line with the ¢ommilment lo tackle inequality a¢ro8s a range of areas, including h¢alih. the organi8ation provided support for cancer patients and ih¢ir f&milies via a remole version of it8 Cancer Inforniation and Advice Projccl, nomially delivered at both Milton Keynes and Stoke Mand¢ville Hospitals. Durin¥ thi8 financial year, tuftding for th¢ advice service was extended by Mocmlllan CAncer C8r¢ to D¢e¢rnb¢r 2025 and w¢ were advised that we could apply for an incr¢gs¢ in overall funding sometime in FY 2022123. The Butrau rein$laled a face-to-face version of 11$ GP Surgery Outreaches (Advlce on Prelcrlptlon) at Whaddon House and Water Eaton Medleal Centre. We were also approa¢hed by East MK Prlm4ry Care Network (PCN) a group of 4 GP surgeries in the city who asked lo join Ihc scheme and supplied us with grunt funding from (kiober 2021 lo fund routine advic¢ ss1On5 for Ihcir palients. Our Specialisi Mon¢y Adyice Service has Lontinued lo $upport people across Milton Keynes with seriou8 debt and financial issues. This was despite some uncertainly about the recommis8ioning of this service, details of which can be found in the Financial Review. t)uring 2021122 we Lonlinued lo receive 'lncreased Capacity Funding, from the Money and Pen$lons SenFlce {M4PS) maintaining 3.0 FfE Debt Advib¢f8 for the majority of the year. Nolwith8tandin8 th¢ achievements outlined abov¢ , the most 8i¥nificant development occurrin¥ thi8 year and the on¢ Ihal ab80rbed the most m8nag¢menl and trustee time w88 our merger wllh Work8 for Us (WFU). Both or8ani8aliony have a history of ¢ollaborative working a¢ross the Milton Keynes urea, spanning the asl 20 years. In that time. w¢ have long since established a 'shared ¢li¢nt group, made up of users of both 8ervice8 and who er¢ predominanily people that are ¢iilier long ivnn unemployed or in low income, often un8tsble, employment. This led both organisation8 to apply for joint. multi-year funding from the National iAltt¥ry Community Fund {NLCF) in 2018-19 to address thr many changes in the world of work that affected our cli¢nls i.e. short-tcrni contracts, digilisalion, &nd skill gAps. The appli¢alion was cventually succ&ssful, and a grant was awarded to us over a 3-ycar period, beginning in (kiober 2019, and launching our 'lntegrated Support 4nd Advlee P#rtn¥rshlp' (ISAP). One of the underlying principles of th¢ ISAP, was that both orggnisations would establish & Proj¢¢t Board (drawing on staff and volunteers from each orggni8alion) ¢0 explore whether eICienC]eS could k made over the lif¢lime of the project that would lead to a gMler level of integr&lion between the two ChilleS. Toward8 the end of the proj¢¥'t the board would look at whether it was fca8ible lo recommend a Full m¢rg¢r of the two organisations ora level of closer co-operation based on th¢ success of the ISAP and the out¢omes it delivered for locAI p¢opl¢. Th¢n Covid happened. We were barely 6 months into our joint project and the world changed. The pandemic hos, understandably. required both WFU and CAMK lo develop new delivery mod¢ls and organise themselves in ways that differ, from those envisaged at the inception of th¢ ISAP back in 2019. Th¢ measures taketL during 2020121 and 2021122 have r&8pond¢d lo the immediate and longer-terni ¢hall¢ngcs caused by Covid-19 and sei both organisations on a cours¢ to improve on those changes furth¢r, as one service.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .¢ontinued For the year ended 31 March 2022 Achlevements and performance {contlnued) At the start of 2021. th¢ CEO of WFU announced She would k retiting in Octobcr of that y¢ar and that many of their tNstees wcre reaching the end of their ¢urr¢nt tem)s, with several not seeking r¢-election. Th¢ impelus to proceed with 8 m¢rger became slrongttr as discussions continued into the Spring. and the two board8 finally agreed to open talks on & full merger in Jun¢ 2021. The guiding principl¢ was to 8ecurg the future of the WFU service. bul within & larger organisAtion that Possessed a greater, local reach {CAMK). This in turn would help lo enhance the overall offcr of CAMK to thc local population. M¢r¥¢r talks began formally in June 2021 with both Lliarili¥y sigiiiiig u M)lorand1n of b'nderstanding. Negotiations and financial due diligence continued through Ihe summer involving both boards of irust¢¢s and a core merger group compriscdof senior siaff and irust¢es Irom charity. A full transferY48reemcnl. and vesting de¢laralion &s well as the TUPE of employees to Ciiizens Advice was drawn up for agreemertl by both boards and foTm8lly ¢ompleted in February 2022. The bur¢au did not use the servi¢es of professional fundraisers or comincrcial particip&tors lo assi81 with it8 fund-raising activities durin¥ 2021122 and no coinplainls have been received r¢¥Arding its fund-raising activiiie5. In quarter 4 of thi8 ycar, the board of trusleey reviewed th¢ organisation's business plan and agreed to trial Ihc Servi of a fundralslng consultant to support the Director with incom¢ g¢n¢ralion in 2022123. Milton Keynes Citizens Advice Bureau uses every opporlunity to promole volunteerlnR bul with th¢ first year of ihe pandemic. this year hus continued to see relatively low number of voluiitttrs workin¥ within the service. In 202012I volun¢e¢r numbers decliTJed dra$iic8lly from around 80 to 30 over the 12- month period. This has not recovered during the pust 12 months wih the avera¥e number of volunteers between April 2021 and March 2022 being 28 at &ny one time. Increasing th¢ overall number of op¢ralional volunl¢¢rs remains & 81ralegic priority for u8 in 2022123. During 2022-2023 the Bureau aims to re¢ruil additional volunt¢¢r8 a8 they are a key element of the Servi w¢ provide. Flnanclal revlew The results of the charity for the yegr 8re set out in the financia] stacemenls on pages 17 to 37. Total revenue for the year was £843,992 (202012021.. £725,980). Th¢ nel movement in funds for lh¢ year was a surplus of £131,187 (202012021.. sury)lus of £150,080}, which includ¢d a Surplus in unreslricted funds of £122,777 (202012021: surplus of £128,605) and a surplus in reslricled funds of £8,410 {202012021; surplus of £21.475). The principal fiJndLYs during th¢ y¢ar Hre as follows.. National Lollery Community Fund Ma¢millan Cancer Support Milton Keynes Council The Money Advice Service National Asso¢i8tion of Citizens Advice Bureaux The Bureau delivered the Milton Keynes Council G¢n¢ral Advice Service bclw¢en April 2021 ayjd March 2U22. Funding was renewed for a fvrther 12 month8 from April 2022.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trusteesl...continued For the year ended 31 March 2022 Flnancial review (continued) The combination with the Workg for Us Charity was completed on 14 February 2022. As a result, the assets and liabilities of Works for Us were transferred into the control of Milton Keynes Citizens Advice BLireau at nil consideration. As ihe fair value of the ass¢ts received exceeded the fair value of ihe liabilities assuined by £50,630, this gain has been recognised as a ¥ift within income. The Bureau delivered th¢ National Association of Citizens Advice Bureaux'5 Help to CIAlm Serv1¢¢ between April 2021 and March 2022- the grant allocolion was unchanged from the pr¢vious 2 year8. The Help to Claim funding required the bureau to ¢ontinu¢ contributing an agreed nUMr of staff and volunteer hours (as in 2020121) to a national lel¢phon¢ hclpline and webchat servic¢ for ¢laiinants of Universgl Credit. This third y¢qr of d¢liverymarked the last direct grant made lo National Citizens Advi¢,¢ by the Departmenl for Work and Pensions {DWP), a5 under coinpetition ru1¢5 il had io place the conlra¢t for Help lo Claim's fourth year (2022123) inlu a tendering pro¢ess and invited expressions ol- interest (and Liliimalely bids) Irom other potential providers. Citiz¢ns Advice bid for the contract in November 2021 (the Ydlue of which had reduced by 400/0 compared lo previous years) and su¢¢eeded in securing funding for the next financial year. As the total grant was sinaller, not all oftice5 would benefit from a direct grant made to them by the national oifice. Instead, a competitive process wa5 introduced and oftices whu believed th¢y could deliver the new contract were invited to apply. W¢ We one of 4 oftices. out ol'the 9 in our region. lo bid for the contracl lo run Help to Clairn across Bucks, Oxon and Berks, but we were unsliccessful and therefore decommissioned our Help to Claim service on 31 March 2022. During the year we received funding of £147,467 from th¢ Money and Pensions Service {MaPS), whi¢h has a partnership with the National Association. These funds were used once to deliver free debt advice to p¢opl¢ experienLill¥ financial hurdship And those with a level of personal debi that meant their hous¢hold budget ran at ll deficit. At th¢ end of 2021122 MaPS too op¢n¢d ils r¢¢omrnissionin8 process which overlapped with that of H¢lp lo Claim. As with that pr(eSS. w¢ had liiilc lo no direct influence over the course of the recommissioning proce58 except to provid¢ the national body with manA¥emenl and perfonnance data r¢laling lo Ihe contract and its employees. The MaPS recommissioning proccss wll8 poorly mana¥ed by the funder, Opening in October but collap8in8 by December 2021 as providers across the UK (including Citizens Advice) struggled to put supply chains log¢iher that met the funder's criteria. The nature of the contr4¢1s had also fundamentally changed- having previou81y been grant based but now potentially moving lo a paymcT)I by results model which would have caused diffi¢ulii¢s for most or¥ani8Rtions in lernis of budget 8et(ing and forward planning. Following the collaps¢ of the proc8 MaPS agreed an extension of all provAdeyJ existing funding to January 2023. A8 explained, Th¢ Homelessness Prevenlloll Support Servlee {IIPSS) ran for it8 original 12-monih pilot before being renewrd for a further 6 months in October 2021. In quarter 4 of Ihis ye8r, we were advi8ed that the service had been r¢¢ommended for further commissioning in 2022123 bul that its focus may b Changed to reflect challenges aroiind the emergin8.cosl of living crisis, caused by rising inflation and huge increases in hous¢hold energy costs.
Mllton Keynes Citizens Advice Bureau (a charitable company Ilmited by guarantee) Report of the directors {trustees). .continued For the year ended 31 March 2022 Flnan¢lal review (continued) Thc merg¢r b¢tween CAMK and WFU also requir us to renegotiatc the ternis and conditions of our grant with NLCF. Following submi88ion of our merger plans lo NLCF and a rational¢ for A revised version of ISAP, the fund agreed to consolidate both grants into one payment for Citizens Advice with effect fro Nov¢mber 2021. The underspend on th¢ grant reported by WFU was rcprofiled Along with the rem&ining gr&ni payments to give us what is effectivdy a fourth year of ISAP deliv¢ry, moving the projeol ¢nd date froTn October 2022 to October 2023. All office spac¢ Currently occupied by the organi5ation coniinues io be lei ai our landlord's subsidised rul for voluntary group8, we will need lo apply for a new rent r¢du¢tion at the start of 2022123. The office is now b¢ing u8ed differently to the way il was pre-2020. We hav¢ agr¢¢d to review the current space within Ihc building and potentially reduce thi8 somerime in the next financial year to reflect the changed working environment and deliver somc savings a8 a response lo some of the financial challenges the or8anisalion had to over¢ome in the tinal months of this year. IAve.f¢mentpowLJr,% andpnliL'ie.f Undcr the Memorandum llnd Articles of Association. the charity I8 power lo inv¢st in any way th¢ trustee8 wish. The trustee8, hhving r¢gard to Ihc liquidily requiremenis of Urating ihe Burcau and lo the reserves policy have operalcd a policy of keeping 8urplus funds in interest b¢aritig dep0511 a¢¢ounts and to seek to achicv¢ a rat¥ of deposit int¢r¢g1 which matLhes or excgeds inflation as measured by the retail priLets index. ReservL& policy It is the policy of the charity to aspire lo maintain unSIr1Cted funds, which are the free reserves of the chaNty. al a l¢vel that equates to six months unrestricted expenditure. The trust¢es agreed that the growth and development of Milton Keynes Ciliz¢ns Advice Bureau's activities made it prudeni lo aim to have this lev¢1 of reserves whilst accepling that the main purp05c and fiinction of the Service should al no lime be compromised or jeopardised in pU1t thereof. The trustees a150 agreed that the Bureau will continuously strive to make improvement8 to the s¢rvice8 it provid¢y whilst delivering the services as Cost effectively as possible. The actual reserves Are £539,379, whicli includes unrestricted funds of £471.225. This equates to ten Tnonihs unrestricted expenditure. Within the unrestricted funds, the Iruslees have de8ignated tunds of £88.914 (2020121: £91,101). These were set up by the trusfres lo deal with tulure potential slatulory rinancial commilm¢nls such as redundan¢y costs totalling £44,00012020121'. £34,700), the potential costs of having lo relocate th¥ operations of £33,000 {2020121.. £33,000) if funding decreases significantly and the wrile-down of fixed assels of £11,900 (2020121., £23,40U) currently h¢ld by the Bureau. With the increased uncertainty over funding in th¢ next two years the trustees are clear that this l¢v¢l of unrestri¢ted reserves is necessary. The Bureau's reserves include r¢striLted funds of £68,154, comprising fund$ received by the bureau for the Integrated Support and Advice Project (£48,198) and two r&stricted lunds that w¢r¢ transferred into the ontrol of the Bureau following the combinaiion with the Works for Us charity in FebNary 2022; Milton Keyn Community Foundation (£2,529) and Milton Keynes COU11 (£17.427). The trustees are confident that the Bureau is able to continue lo meet its liabilities as Ih¢y fall due for the next year and that the accounts should be prepared on a going concem basis. 10
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors {trusteesl...continued For the year ended 31 March 2022 Plans for future periods This plan considers many of the known external factor8 and challenges that impact on both the service and the liv¢y of local people and, for 2022-23 at least, we know that the aftcrmaih of Coronavirns, aDd th¢ cmcrging cost of living crisis. will b¢ amongst the gryealest of th¢. This plan, like those before it, beeks to meet the emergent needs of the community and follow wider development8 su¢h as increased take up of welfare knefits, rising unemployment and un$table wotl(, local population incrcase, housing shortages and the increasing role of digilal technology in the lives of ordinary people. Above all we believe our obje¢live8 are crucial in helpin¥ u8 to Improve and &dvAn¢e inclusion and accc55ibility across the service. Completing our m¢rg¢r with WFU Sets Citizens Advice Milton Keynes on a new eours¢ a8 il enlcrs its 50 year of service in Milton Keynes. Coming together will strengthen our financial position and creat¢ Opportuniti for future fundin81 and has already provided additional , highly skilled staff with expertis¢ in ¢mploymenl and employability. We hav¢ rLachcd out to many exigling slakcholders to promote this tL¢W dimen8ion io our work. and w¢'ve been encouraged by discussions with Macmillan and Paradigm Housing As50Ciation - both existing funders, who would b¢ willing to fund additioiial proje¢ls forused on work, trainingF, and skills. We'r¢ also exploTing developm¢ni of a bid lo the UK Shured Prosperiiy Fund which has allocated £3m to MK COLillLiI over tli¢ next 3 years as part of the govemmenl's levellin8 up agenda. In addition lo th¢ above we will remain alert lo opportunities that are not strictly in alignmenl wilh our slralegi¢ priorities but if secured will hid our fundainenlal Lh4rilable objectives. The plan also seeks 10 m¢¢1 th¢ slr&ie¥iL priorities of the National Citizens Advi¢e service in ¥eneral, a8 well as addre&q local isgues such as the increase in th¢ number of people living in i¢mpor&ry accommodation, and the in¢rea8in8 numbera of childr¢n under 14 who are living in poverty in Milton K¢yn¢s. Renewal of MaPS funding is subje¢l lo n¢gotialions undertak¢n on our behalf by the N&tiOnl A9SOCiAtion. This has so far been on an annual basis and lo an extent is influeneed by central govemment's poli¢y on the continuing development of 8ttvices to support people who ar¢ financially disadvAntaged. Our Tnairt influence over the conlinualion of this Fundin¥ is lo ensure coinpliance with the main KPIS for delivery of MaPS in relation lo ¢li¢nl volumes and quality of advire and service. As m¢ntioned earlier, the postponed recommi88ioning proce55 presents us wilh a chullenging situation over which we have very little control. The Current extension of grant8 uritil Januuary 2023 was w¢lrome but we have little or no infomjalion About howlwhen a new servir¢ model will be commission¢d at th¢ liine of prepanng this rep)rt. The loss of this fundin8 would require us to undertake a major restnicture of the organisalion if replacement bjnding from ¢18ewhere was not available. Milton Keyne8 Council has y¢1 lo provide any further infornialion surrounding its long terni8 plans (if any) for independent generall$¢ advice Services. This remains an area of funding where lh¢ local authority appe8rs to have no clear long-terni strate, despite hinting at a forn)al commi8sioned process for 2023, no further infomiation has b¢¢n released to date. It has continued to focu5 on areas of more $p¢¢ialis¢d support to more vulnerable groups of people. In this in3tan¢e we have enjoyed succ¢ss with the extension of AISVA to 2023 and th¢ continuation of HPSS from October 2021. We aim to inform the council's strat¢gy on delivery of tbese services in the longer terni through our robust and comprehensive monitoring 8nd data. r¢s¢ar¢h. and client testimony.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .continued For the year ended 31 March 2022 Plan8 for future periods (continued) The Bureau re-eslablished ils 'Friends' organisation in 2015 to develop annual fundraising activities. Several small-$cale activilics have lak¢n place each year including a swimathon and collccliotts at local events such as flrework displays. 'fhe events of the last 2 years have seen community fundraising d¢oline a¢ross all the charity sectors. We und¢rtook no such activities in 2021122 but looking ahead to 2022123. the bureau will celebrate its 50fj1 Annivcr8ary and this may psent an opwrtunity to re8tart 80m¢ of the8e clivilies should the gilualion with Covid-19 have improved. As the NHS ¢ontinues io search for wftys io make efficiency saving>8 uyid ¢xplur¢b Llie poteiitial of social prescribing. thc Bureau has tried to position itself as a irust¢d partner that is bes¢ able to divert a number of unnecessary enquiries away from frontline medical servi¢¢g through a cost effcctiv¢ delivery modcl. A pilot project 'Advice on Prescription" ran initially throughout 2018119 and then again in 2Q19120 involving two GP surgeri in Milton Keynes- both surg¢ries nded this service directly and decided io extend a remote version ot. th¢ service during the pand¢mic. A further 4 GP Surgeries in lh¢ EAyt MK Prlmary CMr¢ Network joined the s¢h¢me this year and at the time of preparing this report a 7 ' surgery approached us for infornialion about Costs for a similur servi¢¢. Following a continucd Strong perforniance on our Mucmillan Project, Ihe Bureau su¢¢e¢d¢d in securing funding from Macmillan until Decetnber 2024 which Allowed us lo coniinue operating our y¢rvice to help people with canccr and their families. At the end of thi8 financial year, wv w¢r¢ ndvigcd thAI we could apply to Ma¢mill8n for an additional amount of inve51menl in the seIce, with the potential to incr¢a$# th¢ Dumber of rrL from I to 3. When ¢tsn.%idering the increase in overheads and managwem¢nl costs, this would represent additional income of £811,500 per year. An applicaiion for this investment will become a priority for 2022123. The Dire¢lor is involved in dis¢us8ion with the local Community Infraslrueture providcr, Communlty Action MK who ar¢ l¢ading di$¢u8sion around the development of a local Volunlary Seetor AIIIAnce amongst local charities and sucial cnlerpris¢s in Milton Keynes. The alliancc is developing toward8 becoming a vehicle to bid for and attract larger amounts of funding into the local voluntary sector and this collaknralive model aligns with our wider ambition lo build on the track r¢wrd of recent partnership working And improve services for local peuple. The Director, Head of Service, Casework Mana¥er. Service EngagNnent Ofyicer aDd Trustees, are all aiming¥ to ¢xpand the bureau's levels of represenlalion at Ial slak¢hold¢r forums aiid partnerships. These include but &r¢ not limited to: Milton Keyne8 HOMelsneSS Partnership (Member Agency) Milton Keynes Mcnlal Health Partncrship Board (Member Agen¢y) Milton Keynes Health and W¢llbein¥ Board (In Attendance) Milton Keynes Child Poverty Partnership {Member Agency) Milton Keyn¢s Voluntary Seclor Alliance- Steering Group (ln Attendan) 12
Mllton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees). .continued For the year ended 31 March 2022 Plan5 for future perlod$ (¢ontlnu¢d) The Bureau will continue to apply for other grants and contrlS that align with it8 overall mission and objectives. Beyond the 'core work, of the organisation there continue to be opportunities and grants that suppon divergence into more preventative gr¢as of work that broaden the rang¢ of s¢rvi¢es 10 th¢ bcnefit of Ihc local population. Th¢s¢ in¢lude digital inclusion. energy advic¢, community cohesion, employability and skills, and support for peopl¢ with menlal health problems. Th¢ Bur¢au has taken steps in thc la8t 12 months to allgn itself closer lo these objectives and has referell¢ many of these in 11$ 2022125 Strategic Business Plan. We will continu¢ lo dev¢lop these themes as part of our future gffvi¢e provision. Trust¢cs' rejponsibilitjes ID relglion lo the IlTh*n¢l#l slatementj The trustee8 (who ar¢ a180 dire¢tor8 of Milton K¢ynu Citizen8 Advice Bureau) for the putpose8 of ompany law ar¢ r¢8ponsible for preparing the Report of the ¢ruslee8 and the financial stalemenlb in a¢wrdan¢¢ with applicable law and regulations. Co]npany law r¢quir¢s the Iru8¢ees lo prepare financial 8tatemenls for each financial year. Under thot law the tru8lee8 have elected to prepare the financial statements in a¢¢ordAnce with applicable law and United Kingdoin Accounting Siandardg {Uniled Kingdom Genernlly Aecepicd Accounting Practice), includin¥ Financial Reporting Standard 102 'The Financial Reporting Standard applicable in th¢ UK and Republi of Ireland,. Under ¢oinpany law the trusitt8 musl no¢ approve the financial statements unless they are s#lislied that they ¥ive a true and fair view of the slate of affair8 of the company and of the profil or10sS of ihe charitable group for that period. In preparing these financial stat¢menl8. the truylecs are rcquired to: selecl suirable accounting policies and Ihen Apply them con818tentlyy make judgements and a¢couniing estimates that are SOnable and prudent. State wh¢iher applicable UK Accounling Standard5 have been followed. subje¢l to any material departure8 disclosed and explained in the financial statements; and prepare the fin&n¢ial $ta¢cmen15 on the goin¥ concern bagis unlcss il 18 inappropriate to presum¢ that the ¢ompany will continue in bu5ine&8 The Iru8teu are responsible forkgeping adequate accounting records that are 8ufficienl to show and explain Ihe charitable company's transactions and disclose with r¢asonabl¢ a¢curacy at any lime the tinancial position of the ¢ompany and enable them to ensur¢ that the financial statements comply with the Companies Act 2006. They are also responsible for Safeguarding the As8¢ts of the charitable Company 8nd hence for taking reasonable Steps for the prevention and d¢te¢lion of fr&ud and other irregularitiu. The financial slal¢mcnts are published on th¢ Milton Keynes Citizens Advice Bur¢au's website in accordance with legislation in the Unilcd Kingdom governin¥ the pr¢parnlton and di88emination of onsolidated financial slal¢m¢nls, which may vary from legislalion in other jurisdictions. The maintenAnce and integrity of the Milton Keynes Citizens Advice Bureau's w¢bsile 15 the responsibility of th¢ tru31¢es. 13
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee)
Report of the directors (trustees) ... continued For the year ended 31 March 2022
Disclosure of information to the independent examiners
So far as the trustees are aware, there is no relevant infonnation 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 infonnation and to establish that the company's independent examiners are aware of that infonnation.
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 10 October 2022 and signed on its behalf by:
Christopher Parsons Director (trust�e� Date: l � QG� 2022
14
Independent Examiner's Report to the members of Milton Keynes Citizens Advice Bureau I report on the primary financial st8tem¢nts of Milron Keynes Citizens Advice Bureau (statement of financial activities. statement of cash flows, balanee she¢1 and rclaled notes) for the year ended 31 March 2022, which are sel out on pages 17 10 37. Respective responsibilities of trustees and examiner The Iruslees {who are a150 the directors of the ¢ompany for the purp05e5 of company law) ar¢ responsible for the preparation of the finan¢ial statements in accordance with the requirements of the Companies Act 20061'the 2006 A¢t'). Having satisfied myself that the financial sl&lemenls of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for indcp¢ndent examination, I report in respect of my examination of the chArity's finan¢ial slalemenls as carried out under Section 145 of the Charities Act 201 I (the 2011 Act). In Carrying out tny examination I have followed the Directions given by Ihe Charity Commission under section 145(b) ol'lhe 2011 Act. Thls report, including my slat¢m¢nl, has been prepared for and only for the Charity's Iruslees as a IN)dy. My work hgs en undertaken $0 that I might state lo the charity's trustees those matters l am required to slate lo them in an independent examiner's report and for no other purpose. To the fullest extent permitted by IAW, I do not accept or gssume responsibility to anyone other than the charity and the charity's trustees as a body for my examination work. tor this report, or tor the statements I have rnllde. Basiy of the independent examiner's report My cxamination was Caled out in accordan¢¢ with th¢ General Directions ¥iven by the Ch8rity Commission. An examination in¢lud¢¥ a r¢view of the accouniing records kept by the charity and a comparison of th¢ R¢¢ounts pr¢senled wilh fhose rerds. It a180 includes consideration of any unusual items or disclosures in the fj¢counls, and Seeking explanations from you as trnst¢es ¢on¢¢ming any such matters. Th¢ pro¢¢dures undenak¢n do not provide all the evidenLe that would be requir&1 in an audit. and Consequently no opit]ion is givcn as (o whether ihe accounts present a 'truc and fair view ' and the report is limited to those matters set out in the $lal¢ments below. Independent examiner's st4tement Sin¢¢ lh¢ ¢harity's gross in¢ome exceeded £250,000* your examiner musl be a member of a body listed in se¢lion 145 of the 2011 Act. I cunfirm that l am qualiti¢d lo undertak¢ the examination by being a qualified member of the Institute of Chartered Accountants of England and Wales which is one of the listed bodies. 15
David Hoose (Oct 20, 2022 10:51 GMT+1)
Oct 20, 2022
Company Reglstration No: 2265182 Milton Keynes Citizens Advice Bureau {a charitable company limlted by guarantee) Statement of flnancial activities For the year ended 31 March 2022 Unres¢rlcted fund) R¢$trt¢ted fund8 Total 20211 2022 Tot*1 20201 2021 NiJte8 Ineome and endowments from: Donations and legacies Charitabl¢ activities Other income Invulmenls Tot•1 Income 7,025 541,017 29.344 35 577,421 7,025 786,302 50.630 35 843,992 10,163 715,722 245,285 21.286 95 725.980 266,571 Expendlture on: Raising funds Charitable activities Total expendlture 17,114 526 920 544.034 17,114 695 691 712,805 15,170 168.771 575,900 Net Ineome 33,387 97,800 131,187 150,080 TrAnsfer8 between funds (89 390 Net movement In fund 20 122,777 8,410 131,187 150,080 Total fijnds brought forward 20 408 192 258 112 Total fvnd8 carried forward 20 471225 539379 408,192 17
Company Registration No: 2265182 Milton Keynes Citizens Advice Bureau (a charitable Gompany limited by guarantee) Balance sheet As at 31 March 2022 202112022 202012021 Note6 Flxed A88ets Tangible ossets Investments 15a 11,922 350 23,392 Current Ais¢ts Debtors Cash al bank and in hand 17 30.947 525 595 556,542 31,819 365 546 397,365 Credltors: #mounts fAIUng due wlthln one yeAr 18 Net ¢urr¢nt assets 531487 389 180 Provi8ion8 for liabilities 19 (4.380) (4,3EO) Net 178ietJ 539,379 408,192 Income funds Utwestricled Adviie Servi¢e8 Dcsignal¢d 382,311 257,347 20 471,225 348,448 Re8tri¢t¢d 22 68,154 59,744 539 379 408 192 18
Company R•gistration No: 2265182 Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Balance sheet As at 31 March 2022 The chgritsbl¢ ¢ompany 18 entitled lo exemption from audit under S¢¢tion 477 orth¢ compani Act 21M)6 for ihe ycar end 31 March 2022. The members have not required the c4)mpany to obtain an audit of it8 financial statements for the year ended 31 March 2022 in accordanc¢ with Section 476 of the Companies Act 2LK)6. Th¢ trustees a¢knowledge their re8ponsibililie8 for.. (a) ensuring that the company keeps accounting rewrds that ¢omply with Selon8 386 and 387 of Ihc Cotnpanies Act 2006; And (b) preparing financial statements which give a trne and fair view of the stE4te of affE4iTS of the company as at the end of ¢a¢h financial year and of its surplus or deficit for each finan¢ial year in ac¢ordan¢e wirh the r¢quirements of Sections 394 and 395 and whieh otherwise comply with thc rwuiremenl8 of Ihe CoMpani¢s Art 2006 relating to financial statem¢nts. so far as applicable lo thc compaTJy. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to Small compani¢8. Approved and author18ed for16$Ut by the board on ithoL by: 2022 and slRned on Its behalf Chrlstopher Parsons Dlrector Date: irfk o&) 2022 The notes on Wages 22 to 37 forni pail of these financial slalemenls. 19
Company Registration No: 2265182 Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Statement of cash flows For the year ended 31 March 2022 202112022 202012021 Cash flows from operadng Aetlvltlei: Nel cash provided by operating activitid¥ 165,058 155 039 CA¥h flow8 from Inveiting Actlvltle$: Dividends, intercst and rents from investments Purchase of property, plant and equipment Purchase of fixed a88et invcstment Net cash provlded by (used In) InvlIng ctlviti¢• 35 95 (4,694) 350 {15,612) Ch4ng¢ In caih and cA8h equlvAlenti In the reportlng perlod 100,049 139,522 Cash and caih equlvAlents at the beglnnln8 0( the reportln8 perlod 365,546 226,024 C8h *Dd ¢ash equlval¢nts at the end of the reportlng perlod 525,$95 365,546 Reconciliatlon of net Income l (expenditure) to net cash flow from operating activltles For the year ended 31 March 2022 202112022 202012021 Net Income l (expenditure) for the reportlng period Adjustments for: Depreciation ¢har8 Divldends, interest athd rents from investments Drease in debtors Increase l {Decrease) in creditors Net cAsh Provided by operating activitie$ 131,187 150,080 16.164 (35) 17,295 (95) 872 12,072 165058 155 039 20
Company Registration No: 2285182 Milton Keynes Citizens Advlce Bureau (a charitable company limited by guarantee) Analysis of cash and cash equlvalents For the year ended 31 March 2022 202112022 202012021 Cash in hand and at bank Cash dewsit &ccounl8 Total ¢4sh and cash equlvllents 445,768 79,827 525 95 285.719 79,827 Analysls of changes in net debt For the year ended 31 March 2022 At start of year Cash flows At end of year Ca8h in hand and at bank Cash deposit accounts TOTAL 285,719 79,827 365 546 160,049 445,768 79,827 525 595 cOmprat(Ve5 for an•ly818 of ehangeB In net debt At start of year Cash Ilowa At end of yeAr Cash in hand and at bank Cash deposit accounts TOTAL 146.197 79,827 226 024 139,522 285,719 79.827 139 522 21
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 GenerNI informatlon Milion Keynes Citizens Advic¢ Bureau 18 a rcgistered charity and company limited by guarantee, incorporAl¢d in England and Wales. The addr¢$s of its registercd offi¢¢ ond prin¢ipal place of business is disclosed in th¢ company inforniation on page l. The principal activity of the charity is to provide free. confidential, impartial ond independent advice for th¢ benefit of the local community. Tile fiiiartcial stAtements ar¢ pr¢s¢ntcd in Sicrling and this is the functional cum¢y of the charily. Monetary amounts in ihese financial statements are rounded to the nearest £. Aecounting pollcles Th¢ following accounting policies have been applied con815tenily in dealing with ilem8 which ar¢ considered rnaterial in relation lo the charitable L'ompany's financi slaiemenls. (*) B#$l8 of preparatlon The chilable Company is the pareni Undertakin of a small group And, as such, 18 not required by the Coinpaniu Act 2006 to prepare group accounts. These financial statements therefor¢ present infomialion AUt the charitablecompany and an individue41 und¢rtakin¥ and not about its group. The financial stal¢m¢nts have been prcpared in accordance with Accounting and Reporting by Charitie8: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial RertIng Standard appli¢&ble in the UK and R¢public of Ireland IFRS 102) (effective l January 2019) - {ch8ritiu SORP {FRS 102)), the Finan¢if¢l Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies A¢t 2006. Milton K¢yne8 Ciiizens Advice Bureau mect8 the definition of u public knefit entity under FRS 102. Assets and liabilities ar¢ initially re¢ognis¢d at historical cost or transaction value unless oihenvise Stated in lh¢ relevant accounting wli¢y not4s). The prin¢ipal accounting policie8 adopted in th¢ preparation of the financial statements are set out below. (b) Golng eon¢ern The financial stal¢m¢nts have been prepared on a going ¢oneern basts since th¢ Trustees are onfident that the Burcau is able to continue lo m¢¢1 its li&biliti&q a8 they fall due for the next year after the account8 h8v¢ b¢¢n signed. 22
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Aeeounting poll¢les (contlnued) (C) CombInAOn The combination with th¢ Work# for U$ ¢harity wks ¢omplcted on 14 February 2022. A8 a rcsult, the a8S¢ts and liabilities of Works for Us were transferred into the Control of Milton Keynes Citizens Advice Bureau at nil consideration and w¢re in substancc a gift. As the fair value of the sSets received cxcccdcd th¢ fair value of the liabilitie5 assum4 a gain was recognised and shown separately within income. (d) Judgement8 In 8pplyln8 a¢¢ountlng po15¢le8 and key 80uree8 of e8tlmatlon uneertAlnty In applyingth¢ ¢ompany's accounting policies. the director5 are required io make judgemenls, estimates and Assumptions in detem]ining the carrying ainounts of a55Cts and liabilities. The direLtors' judgem¢nls, estima1¢5 and abyumplions are based on ihe best and most reliable ¢viden¢e available al the time when the decisions are made, and are based on historical experience and other fA¢tors that are considered to be applic&ble. Due lo inher¢nl subjectivity involved in making such judgements, estimates and assumptions, th¢ octual results and oulcomc8 may differ. Th¢ cslima¢cs and underlyin¥ assumptions are reviewed on an ongoing basis. R¢vision8 10 accounting estirnates are recognised in th¢ p¢riod in which the estimate 18 revis, if the revision affects only thlll period, or in th¢ p¢riod of the revision and futtwe periods. if the revision Affects both cutTent and future periods. The key estimates and assumptions mad¢ in Ih¢s¢ accounts are the allocation of central support CO8tg which ar¢ Allo¢al¢d on a basis using an cslimatcd timc and cfrorl percentage. (e) Ineome Income in¢luding donation3, gifts and legacies and grants that provide core fiJnding or are of general nature are recognised where there is entitlement, probability of receipt and the amount can b¢ measur¢d with r¢#sonabl¢ rcliabilily. Such income 18 only def¥rred when: The donor ¥pecifiu that the grant or donation must only be used in future &¢¢ounting p¢riods' or The donor has imp08ed conditions which mu8t be met before the charity ha8 unconditional enliilemenl. Investm¢nt inwme is r¢¢ognised on a receivable basis. Income from charitable Activities includ¢s income received under contract or where entitlement to grat]t funding is subjrxt lo specific perfonnance aclivilies and 15 recogn13¢d wh¢r¢ thcre is entitlement, probability of receipt and tbe amount Gan b¢ measured with sufficient reliability. 23
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Aetountlng pollcles (¢ontinued) (fj Volunteers Ind donated servlces and f4¢llltles The value of seryices provided by volunteers is not inCoOr&Ied into th¢s¢ fLnancial slatemenls. Wh¢re seIceS are provided lo th¢ charity as a donation that would nornially be purchased from suppliers, this contribution t8 based on the value of the contribution to the charity. (g) Eipendlture Expenditure is re¢o¥nised when a liability IB in¢urr¢d. Contractual &rrang¢ments and perforniance related grant8 are rognISed Bs goods or 8eNi¢es are Supplied. Other grant p&ymcnls are re¢ognised when a conslruclive obligation arises thatresuli in th¢ payment being unavoidable. Charitablc a¢liviliu are the costs of operating the Milton Keyne8 Citizens Advice BUrU ¢xcluding governance costs. Govemon¢e costs include those costs incurred in the governance of ihe charity and its assets and are primarily associated with ¢on8tiMlional and statu(ory requir¢Tnenis su¢h as audit fees. (h) IrreeoverAble VAT All resources expended are Classified under activity headings that aggregate all ¢os¢s rolal to the ¢alegory. Irr¢coverable VAT is charged against the cate¥ory of re80urc¢s expended for which it was incurrcd. (i) Oper*ting lea$e$ Renr&ls payable under operF4ling leases are charged on a 8lraighi-lin¢ basis over the lern) of th¢ l¢ase8. U) Invegtments Non.financial investments are m¢a8ured initially al cost and subs¢qu¢ntly measured 41 fair value unlc48 fair value c8nnot be measured reliably in which case it is measured at cost less impainnent. 24
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Accountlng pollcles (¢onthived) (k) Cash and C*gh equlv4lents Cash and cash equivalents ar¢ ¢a$h and short terni highly liquid investments wtth a short maturity of three months or less from th¢ d81¢ of 8cquisition or opening of the deposit or similar account. O) FlninelAI Instruments The ¢harily only has financial a8sels And finan¢ial liabilities of a kind that qualify as basic rinancial in$truments. Basic financial instruments arc initially recognised at trongaction value8 and subsequently megsured al their settlement value. (m) TAnglbl¢ flxed assets All assets costing more than £250 are capitalised at cost and depreciaied. Assets other than computer equipment are depr¢cial¢d over periods of three to fiv¢ years on a slrai¥hi-line basis. Computer equipm¢nl is depre¢ial¢d over two yeaTS. Assets thai are acquired with the aid of specific capital grants are ¢apilalised and the relevant Branl Ir¢al¢d as re81ricled income. (n) Flxed Aiset Invutments All fixed a88et investments are held in the UK at eost. (o) Funds strueture R¢slricted fund8 are ndS where the donor requires that a donation mu81 be spent on A particular purpo$e or whcrc funds have been raised for a specific purpose. The perni8n¢nt endowment fund is a particular typ¢ of r¢$lricled fund which musl b¢ held p¢miancnily and the CE4Pital of the fund maintained. Unrestricted funds can b¢ used at the discretion of the Trustees in furtherance of the Charity'5 ob ecls. Designated fund5 are monies earn)arked by the Trustees for specific pro ecls in furtherance of the Charity's ob ects. The balances at the balance sheet dale represent amounts still to be ulilised. Ip) Pen$lon eosts Contributions payabl¢ lo th¢ defined ¢onlribution pension $¢heme are char¥ed to the profit and1088 account in the period lo which ihey relate. Legal status of the Milton Keynes Cltlzen8 Adilee Bure8U The charitable company is limited by guardlltee and has no share capital. The liability of each member in the event of a winding up is limited to £1. 25
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Activitiey In further&Dee of the ¢harlty'$ objects All revenue. net income before taxation und net asset8 is derived from the charity's principal activity. enlircly in the UK. Stitement of finanelAI actlvltles for the year ended 31 March 2021 Unrestrlcted lunds Re8trld¢d fundfj Totsl 20201 2021 Notei Income ind endowmenti from: Donations and le¥a¢i Charilable activities Investments Total Income 10,163 512,521 95 522,779 10,163 715.722 95 725,980 203.201 203,201 Kxpenditure on: Raising bjnds Charitable activities Total expendlture 15,170 15,170 560 730 575,900 121 329 121,329 454.571 Ntt (expendlture) I Income 68.208 81,872 150,080 TrAD8fer8 between fundg Net movement In funds 20 128,605 21,475 150,080 Total funds brought forward 20 219843 258 112 Total fund8 rIed fonvard 20 408 192 26
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Income The following schedule sets out information conMIng Ih¢ major revenue grants received in the 202112022 202012021 Milton Keynes Coun¢il Revenue and Benefits S¢Niee Advice and Inforniation Service- Vuln¢rabl¢ Adults Homelessness Advice & Infomalion Service Covid 19 grant Universal Credit- Help lo Clglim BEIS grants 100.000 100,0 Milton Keynes Council 48,744 48,744 Milton Keynes Council 118.100 59,100 Milton Keynes Council NACAB 7,980 212,026 212,576 NACAB GP Surgcrie8 Parish and Town Coun¢i1g Maonillan Outreach Fundin The David Family Foundation Money Ad7¢¢ Scrvt¢e Face lo Fa¢e Debi Advice Big Lottery Fund- Inte¥raled Support and Advic¢ Proj1 Milton Keynes Community Foundation- The Mix Tran8fomiation Projcct Milton Keynes Community Foundation- Digital Drop-ln The David Family Foundation- Digital Drop-ln Proj1 Bletchley & Fetmy Strlliford Town Council- Digital Drop-ln Proj¢ct Other 41.365 3,125 5,727 34,434 8,750 12.137 36.757 3,850 147,467 Re8tiicted Fund 113,992 Restricted Fund 97,818 55,119 Re8lricled Fund 5,326 Restricted Fund 20,930 Restricted Fund 3,3(KJ Rastrt¢1 Fund 4.534 103 786,302 20 715,722 27
Milton Keynes Citizens Advice Bureau (a charitable company Ilmlted by guarantee) Notes to the financial statements For the year ended 31 March 2022 Income (continued) 202112022 202012021 Donati ns Other 7,025 10.163 Works for U8 combination fair value Works for Us cMbInation fair vAlug 29.344 R&8tricted Funds 21,286 50,630 Analyslj of Movement In deferred incomt 202112022 202012021 Balance al l April 5,625 Nd movanent for the year 8,750 (5,625) Balance at 31 March Invejtment Income 202112022 202012021 Int¢rest receivable on cosh d¢posils 35 95 Expendlture 202112022 202012021 in Staff costs 28
Milton Keynes Citizens Advice Bureau {a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 Expendlture (contlnued) 202112022 202012021 Costs of activities in furtherance of the c 's ob'ect Staff rosl8 Partner8hip c08ts Premises ¢xp¢n T¢lephon¢ Printing. posiage and stotionery Officc Equiprncnl Staff training and travel C05t8 of volunteers Publications, subscriptions and insurance Compul¢r expenses Finance Support and Agency cosi8 Profe88ional fee8 Publicity and Marketing Independent Examiner fees Depr¢¢'iation Disbursements Irr0Verab]e VAT Other expense8 505,556 10,989 38.)9 10,819 6,372 7,459 8,255 2,171 13.l59 10.632 31,156 7,809 6,993 2,000 16,164 717 13.218 3,313 403.434 44,401 8.567 8,048 6,952 7,845 461 8,183 13,193 17,948 720 2,294 2,000 17,295 16,345 695 691 560 730 10. Net Income for the year 202112022 202012021 Net income for the year is Stated after ¢harging'. Independent Examiner's remuneration Depreciation Operating le¥8e renta18 Land and building3 - Other 16,164 17,295 30,926 34.405 29
Milton Keynes Citizens Advice Bureau (a charltable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 11. Employees 202112022 202012021 Staff costs Wages and salaries Social security costs Pension costs 479,645 30,893 12,132 386,869 23,404 8,331 522 670 418,604 No employee received remuneration of more than £60.000 (202012021.. Nil). The lolal remunernlion of one key management personnel was £45,000 {202012021.' £40,000). 12. TruJtee8ldlrectorJ remuneratlon The trusteesldireclors ar¢ not remunerated {202012U21: £nil). One trLLSteeldirector was reimbursed expenses of £27 during the year (202012021; £nil). The charity purchased professional indcmnily and public liability insurance during tho year lo indemnify ¢mployees and directors against liabilitiw arisiiig as a result of negligence. The co3¢ of this insurance was £2,620 (202012021.. £1,891). 13. Staff number The aver&ge number of p¢rsons employed by the chArily (including director8) durin8 the year was as follow8.. 202112022 Number 202012021 Number Full-time equivalent 20.6 16.9 Employed stsff 26 21 14. Taxatlon AB the charitable company is a registered charity, its illcome under schedule D is exempt from taxation, subject to the provisions of section 505 of the Income and Corporation Tax&9 Act 1998. 30
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 15(4) Tanglble fixed a88ets L¢as¢hold Improvements Fixture8, fitting$ nd furnlture Telephone and eomputer equlpment Total Cost At l April 2021 Additions 46.528 22.577 1,042 82,224 3,652 151.329 4,694 Ai 31 March 2022 156 023 Deprecladon Ai l April 2021 Charge for the year 40.167 1,907 19,202 1,899 68,568 12.358 127,937 16.164 Al 3l March 2022 Net Book Values At 31 March 2022 At 31 March 2021 IS(b) Flxed A8Jet Investmenti 202112022 202012021 Balance gt l April Net movement for the year 330 Balance at 31 Mar¢h 350 Unli81 investments 350 All fixed a$8cI invcslm¢nts arc held in the UK al cost. The investment is a painting purchased at a cost of £350 that was transferred into the control of Milton K¢yn¢$ Citizens Advi¢e Bureau following the ombination with the Works for Us charity in Febnry 2022. 31
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 16. Other investments- CompAny The charitable company I a domiant trading subsidiary- Milton Keynes Citizens Advi¢¢ Bureau {Trading) Limited, a single member ¢ompaThy limited by guaTant¢¢. The sole member of this company is Milton Kwe8 Citizen8 Advice Bweau, thi8 charitable company stsnds as guarantor tothe sumof£l. 17. Debtors 202112022 202012021 Trade debtors Other debtors Taxation Prepayments and a¢mied income 12,197 55 1.075 17,620 3,942 19 1.471 26,387 18. CredltorJ: amount$ falllng due wlthln one year 202112022 202012021 Trade creditors Other ¢redilor8 Socilll security An]ll]S and deferred income 7,472 561 20 17,002 4.158 90 3,937 19. Provlslon for Il*bllltle8 The trusleesldire¢tOTS have set up a provision of £4,380 {2020121.. £4,380). This represents one month of the Bureaii Director'5 galary costs that would be paid it they were lo leav¢ the Bureau. 32
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 20. Analyiis of movements In funds Unrestrlcted Income fullds Restrlcted Income funds Total Balanc¢ at l April 2021 348,448 59,744 408,192 Nel in¢ome for the ycar 33.387 97.800 131.187 Transfer8 for the year 89,390 (89,390) B414n¢¢ at 31 m¢ 2022 471225 Transfer8 frnm Re6trletod Fund Provision is made in th¢ majority of restricted funding projects for managem¢nt and administration costs. Th¢s¢ rosts arc borne by unrestricted funds and then an oppropriale transfer is made in accordan¢e with the funding contract on an annual basis. Comp*ratlve8 for analyil8 of movements In fund8 Unre$trl¢ted Ineome funda Restrlettd Income funds TotAI Balance at l April 2020 219.843 38,269 258,112 Net tncome for the year 68,208 81,872 150,080 Transfers for the year 60.397 (60,397) BAlanee 4t 31 M4r¢h 2021 33
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 21. Analysls Df net Assets between funds Unrestrlct¢d Restrlcted Ineome Income Funds Funds Total 2021 Total 2021 Fixed assets cUent as8e¢$ Current liabililies Provision for liabilities Balan¢e at 31 MArch 12.272 485,051 (21,7181 12,272 556,542 125,055) 23,392 397,365 (8,185) 71,491 (3,337) 471225 539.379 408 192 Th¢ unrestricted fund includes deSigned funds of £88.914 (2020121.. £9I,101). The8e were 8el up by the trust¢e5 to deal with future potcntial staiulory fingncial commitments Buch 08 r¢dUndeY costs totalling £44,0(2020/2l. £34,700), the potential co81s of having to reloc8te the opcralion$ of £33,00012020121.. £33,000) iffunding decreases significantly and th¢ write4own of fixed a38et5 of £l1,gX> (2020121.. £23,400) currently held by th¢ Bureau. Comparatlves for anilyJlJ of net assets between funds Unre8trlcted Restrleted Incom¢ Intome Funds Fund8 Total 2021 Fixed as8ets Current assets Current liabiliti Provision for liabilities BalAnee at 31 March 23,392 337,621 (8,185) 23,392 397,365 (8.185) 59,744 348 448 408 192 34
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 22. AnAIy819 of restricted funds Bo14nc¢ Ineomlng a8 At Resourees 01 Aprll 2021 Outgolng Re8ourcey Transfers Balance as At 31 MAr¢h 2022 Money Advice Service Face lo Face Debt Advice Integrated Support and Advice Projecl Digital DropIn Milton K¢yn¢8 Community Foundglion Milton Keyne5 Council Working Wardrobe Cowop Lloyds TSB Foundation 147.467 {111.998) (35,469) 32,860 26,884 98,303 {38,843) {]7,2) (44,122) (9.882) 48.198 3,039 17,845 30 2,327 (510) (418) 2,529 17,427 (30) (2,327) 266 571 168 771 Restricted fundin¥ Continu io be received for the Money Advice Service Fac¢ to Fa¢¢ D¢bi Advi¢¢ project, whi¢h was in partnership with the National A880Cigtion. This gupports th¢ deliv¢ry of free lo ¢lienl fa¢c-lo-facL dLbt advicc in the most financially excluded ¥¢ographi¢al areas and to the most financially excluded Social groups. Reytricted fundin¥ wus r¢]Ved from the National Lollery Community Fund for the Integrated Support and Advice proj¢¢l. This project aims to 8UPW)rt oPle in unstabl¢ and low-in¢ome employm¢nt. Restricted fundin¥ was received from Milton Keynes Community Foundation, The David Family Foundation And Bletchley and Fenny Stratford Town Council for the Digital Drop-ln project. This project will enable people in Milton Keynes to access one of the Burcau'5 advisers via a secure vid¢0 platform, without a pr¢arrang¢d appointtnent. 11 is designed to Work in tandem with the Bureau's improved and expanded advice services which have been delivered by telephone, email and webchat since the pandemic b¢gan. Th¢ following 5 Reslrirled funds were transferred into the control of Milton Keynes Citizens Advice Bureau following the combiDE4tion with the Wotk8 for Us charity in F¢bn)ary 2022: Funding was provided by Milton Keyne$ Community Foundation fora Supported Volunteer PrOJt. Fundin¥ was provided by Milton Keynes Council for the Women and Work project to support women acce58 work during the COVID pandemic. The Co-op Foundation provided a grant towards computer equipment and softwar¢. Also, fvnding was provided for the Working Wardrobe project to provide good quality interview clothe8. The Lloyds TSB Foundation for Englftnd and WAI¢$ proyidd fvnding for a part-lime inforniation, advice and guidan work¢r lo provide one to one advice. 35
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 22. AnAlysis of restrl¢t¢d funds {continued) ComparAtlve8 for •nalysl8 of restricted fund¥ Balin¢¢ Incomlng As at Resouree8 01 April 2020 Out2olng Resource8 Transfers Bal*n¢e AJ at 31 March 2021 Money Advi¢¢ S¢rvice Face to Fa¢¢ Debt Advice Inlegraled Supporl and Advice Projccl The Mix Transfornlarion Project Anglian Water Wgltersure Fund Digital Drop-ln 113,992 (71.929) (42,063) 31,4l9 55,119 {40,449) (13,229) 32.860 1,870 5.325 17.070) (125) 4,980 (4,980) 28,765 203 201 38,269 121329) R¢5tricted funding conlinu¢d lo bc receivcd for the Money Advice Service Face lo Face Debt Advi¢¢ project. which was in partnership wilh th¢ National Association. This supports the delivery of free to client face-to-face debi advice in the most finan¢ially ¢x¢luded geographical arcas and lo the Inost financially ucluded social groups. Restricted ndIng was re1ved from the Big Lottery Fund for the Integrnted Support and Advice project. This project aims to support peopl¢ in unslobl¢ and low-income eMplOent. restricted grant wa8 received from Milton Keynes Community Foundation for The Mix Trnnsfomialion Project. This project aims to create development ynd sustainability for the Mix through the use of the Bureau as the parent charity. reslTiCted grant wa8 rrfeived from Milton K¢yn¢8 Community Foundation Anglian Water Wal¢r3ure Fund to providc community outreach lo vulnerable and disadvantaged people who are possibly Stru1n8 finclaI]Y or in ned of special assistance. Restricted funding wa8 r¢¢eived from MiltOD K¢yne8 Community Foundation, The David Family Foundation and Bletchley and Fenny Stratford Town Council for lh¢ Digital Drop-ln project. This project will Enable people in Milton Keynes to acce55 one of the Bureau's advisers via a secure Yideo platform. without a prearranged appointm¢nt. It is designed to work in tandem with the Bureau's improved and expanded advice servic¢s which have been delivered by telephone, email and webchat since the pandemic began. 36
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2022 23. P¢n8fion eoAts In O¢iober 2015. the Bureau launched a NEST pen8ion scheme. In addition, following the ombination with Works for Us in February. the Bureau also has a Ttue Potential pension scheme. Both of these schemes are in plAC¢ in order that the Bureau complies with its Auto Enrolment obligations. Amounts paid by the Bureau during the year totalled £12,132 (202012021: £8,331) and amounts owed at the year end were £471 (202012021.. £nil). Contribution8 Are charged to the clwitable aciivilies on which the employee has been engaged during the financial year. Flnanelal ¢ommltm¢nts Ai 31 March 2022 th¢ charity was committed lo making the following pAymen18 under non- cartcellable operating leases in the year to 31 March 2023.. Land and buildlngy 202112022 202012021 Other 202112022 202012021 Opernting leases which expire.. Within l year Between 2 and 5 year8 2 282 82 25. Related party trAn$8¢tlon$ Advanloge ha$ b¢cn taken of the exemption conferred by s¢clion 33 of FRS 102 not lo di8¢1ose all transactions with othcr group companie5. 26. Comblnatlon Th¢ combination with the Works for Us charity W&8 Mpleted on 14 February 2022. A8 a result, lhc assets and liabilities of Works for Us w¢re Irun8f¢rr¢d into the control of Milton Keynes Citizen8 Advice Bureau at nil consid¢raiion and were in substance & ¥ift. As the fair VAlue of the &8$¢1s received exceeded the fair valu¢ of th¢ liabilities assumed by £50,630, this gain ha$ been r¢cognised as a donatioft and Shown separately within in¢om¢. 37
Mllton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Detalled statement of financial activities For the year ended 31 March 2022 Unrestrlcted fundfj Restrlctcd funds Total 20211 2022 Total 20201 2021 In¢ome and tndowment8 from: Donations and legacies Grant8 and ¢onlracts oihcr income Investinents Total Income 7,025 541.017 29,344 35 577,421 7,025 786,302 50,630 35 843,992 10,163 715.722 245,285 21,286 95 725,980 260,571 Expendlture on: Salary related cos18 Pgrtnership costs Premises expenses Telephone Print* Post. stolionery 0]ce equipment Staff training and travel Volunteer costs Publications etc. IT costs FinaDf¢ and agen¢y Professional fee8 Publicity and Marketing Depreciation Ind¢p¢nd¢nt Examiner fees DisburmentS Other expere8 ItTecoverable VAT TDt41 expendlture 386.266 136,404 10,989 240 612 522.670 10,989 38,909 10,819 6,372 7,459 8,255 2,171 13,15Y 10,632 31.156 7,809 6,993 16,164 2,000 717 3,313 13.218 712,80S 418,604 38,069 10.207 6,372 7.355 6,575 2.171 12,895 8,586 16.184 6,459 6.993 16,164 2.0 607 3.313 13.218 544,034 44,401 8,567 8,048 6,952 7,845 461 8,183 13,193 17.948 720 2,294 l7.295 2,000 1,680 264 2,046 14,972 1,350 iio 3,044 168,771 575,900 Net Income 33J87 97,800 131,187 150.080 Transfer8 between fund Net movernent In funds 122,777 8,410 131,187 150.080 Fund& at l Aprll 348.448 59,744 408,192 258,112 Fundy at 31 M#r¢h 471225 539 379 408.192 This page does not form part of the statutory financial 8talement8 38