Company Registration No: 2265182 Registered Charity No: 800012 Unaudited Report and Flnanclal Statement8 Milton Keynes Citizens Advice Bureau (A company Ilmited by guarantee and not having a share capital) For the year ended 31 March 2023 Acorn House 361 Midsummer Boulevard Central Milton Keyn¢8 MK9 3HP
Mllton Keynes Cltlzens Advice Bureau Contonts Rewt of th8 dlr8clors Itru8tee8) Report of the Ind8pend8nt examin8r Statement of flnanclal actfvltles 13 Balar8 sheet 14-1S Statement of cash flow8 18-17 Notes to the flnanclal 8latemenl8 16-34 Delalled statement of flnanclal actlvlties 35
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantea) Report of the directors (trustees) For the year ended 31 March 2023 The director8 (trustees) have pleasure in presenting their report and financial statemcrLts for the year ded 31 March 2023. Reference and Admln15trative detallg Registered charity name: Milton Keynes Citizens Advice Bureau Charlty number.. Company number: 800012 2265182 Registered and principal office.. Awrn House. 361 Midsummer Boul¢vard. Cenlral Milton Keynes, MK9 3HP Banker5.' Barclays Bank plc, PO Box 170, Winterhill, Milton Keynes, MK6 IAL CAF Bank. 25 King8 Hill Av¢nuc. Kin8s Hill. West Malling. MEI 9 4JQ Unity Trus¢ Bank, PO Box 7193. Planetary Road, Will¢nhall. WVI 9DG Independent Examiners.. Mazars LLP, The Pinnacle, 160 Midsummer Boulevard. Milton Keynes. MK9 IFF Directors and tru3ttts'. The ditt¢lors of th¢ charitable company (the charily) are its trustee8 for the purposc of charity law and throughout this report are collectiv¢ly refe¢d io as the trnstees. The trustees serving during the year and since the year ¢[ w¢r¢ as follows: Christopher Parsons (Chair) Charlotle Derry (Treasurer) Jenny Brighton (resigned 14 November 2022) Toby Cooper (appointed 22 May 2023) Beihan Norfor (appointed 13 February 2023) Tariq Raja Vanda Ranyard (resigned 22 April 2022) Naomi Wcbb Alexa Wilkinson All director$ are memba3 of the clwitable company and sland as guarantors of the charitable company in the surn of £1 each. None of the directors have any beneficial interest in the chariLible company. Bureau Director. Ben Thomas Company Secretary.. KevirL Smith
Milton Keynes Cltlzens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees)...continued For the year ended 31 March 2023 Structure. Covernance &nd MAnAgemenl Gi)verning duLwmenl Milton Keynes Citizens Advice Bureau (CAMK) 18 a company limited by guarantee 8ovem¢d by its MemordDdum and Articles of Association. Appointment of Trn.iieeJ CAMK through its equal opportunity poli¢y is committed to ensuring that pcople from differcnt cnmmunities and ba¢kgrounds are not disadvantaged by their Kender. fdce, ethni¢ origin or colour, by a disability, by their sexual oricntation, their m&rilal statug or by their age. It aims to recruit, sclect and retain trustees that rQgnISC the diverse society in which it operates. The number of Iru5tees is limit¢d to a maximum of twelve and a minimum of four. Trustees are elected yt the annual general meeting or co-opted by the Trustee Board (provided that the total number of co-opted and nominated trustee8 does not exc¢¢d four). All elected trnstees shall retire from office at the third annual general meeting following Ihc atthual generAI meeting at which th¢y were elected, bul they may be r¢-8ppointed. Trustees may not serve more than total of nine years unle$8 there are exc¢p¢ional circumstances. Tn4stee induclii?n and training Upon appointment a programme of induction and Iraining is prepared for new lrnslecs. As well as a locally prepared programme Ihcre is also r¢ programme of induction and training provided through the Nalionml Association and new trusle¢s undertake both. Trustees also undertake regular training each year. Organi.falion The trustees are selected and appointed in accordance with Ihc Articles of Milton Kcyn¢s Citizens Advice Bureau. They meel as a Board approximalcly every two months and produce formal minutes of their meetings. In addition, sub-groups are appointed lo consider specific i55ues and report back to the Board with recommendations. The Chair and Treasurer meet with the Bureau Director on a monthly basis to review budget and perfonnanc¢ infomialion. The Treasurer reports the outcome to the nexl Board meeting. Indemnity insurance The charity purchased professional indemnity and public liability insurance during the ycar to indemnify employees against liabililies arising as a result of negligen. The ¢ost of this insurance wa8 £2,098 (202112022: £2,280). The cllarity al80 purchased directors and officer liability insurance to indemnify trnstees against legal liabilities. The cost of this insurance wa5 £357 (2021122.. £340).
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of the directors (trustees)...continued For the year ended 31 March 2023 Relatedparlies The charity's wholly owned sub5idi8ry MiltoN Keynes Citizens Advice Bureau (Trnding) Limited is currently domiant. It is the aim of the directors that the company will receive income and cary out activities which are eoTnpliant with the obJ¢S of the par¢nl Gharilable company. CAMK. Any surplus generated from these activitics is donated lo the Charity under the Gift Aid Scheme. CAMK rernains an associaied member of the National Association of Citizens Advice Bur¢aux ¢0 which it pays an annual f¢e. Remt4neralion CAMK operdles a rcmuneration policy whereby an annuftl percentage award is considered for all dir¢ctly employed slaff from I" April each year. This is subject to our overall financial siluatio and any individual award will take account of personal perforniance and the requirements of the work undertaken. All staff were awarded a 5.250/0 increase from I" October 2022 and all job descriptions are lo be reviewed and updated ag part of the 2023-2024 pay review. Jnfomiation relating to job grades and salaries across all bureaux is now available from national Citizcn5 Advice and Irustccs will u5ethis when deterniining salaries and grades in 2023-2024. The averdge employee headcount during the financial year was 26 (full-time quivRlent was 19.6). No ¢mploy¢¢ ¢arned in excess of £60.000 and the total remuneration paid lo one key management cmploy¢c during Ih¢ yr was £45.000. Risk management The trustees undertake regular reviews to assess all major risks to which the charity is exposed. This is undertaken using a fornial risk management process lo assess risks and implement mitigation strategies. Wl)cn revicwin8 risks all Government and National Association guidance is followcd and actioned. The trnslees have identified the following keys rtsks for the charity and also show the mitigating actions to be taken. Potentlal Rl$k Rcduclion in funding 8vailablc lo support th¢ work of the charity. Miti alin actions Continue to apply for grants and contracts which align with our mission and Stralegic Business Plan. Consider appropriate partnerships which may increase potential applications. Develop opportunities arising from th¢ merger with Works for Us. The present and future success of the Bure8U is dependent on having sufficiettt appropriately skilled staff and volunteers. The existing succession planning strategy will continuc to bc develo A programme to reple retiring trustces and appoint a minitnum of two additional trustees has been im lemented Loss of key staff Board dcvelopment
Milton K8yn8s Cltlzens Advice Bureau (a charitable company limited by guaranto•) Report of the directors {trustees)...continued For the year ended 31 March 2023 Objectlves and actlvities for tht Publlc Benefll The objec18 of the charity ar¢: To provide the advice people need for the probl¢ms they face- To iTnprove the policies and prllctices that affect peoples. lives. To ensure individuals do not suffer through lack of knowlcdge of their rights and responsibilities or through an inability to express their ne$ ¢ffectiv¢ly. CAMK has referred to th¢ guidance in the Lharity Lornmission's gencral guidance on Public Benefit wh¢n reviewing its aims and objectlVe5 and planning 118 fulur¢ 8cliviti¢s. In particular. the ItU8tees consid¢r how planned activities will contributeto the aims and objtIveS th¢y have set for the organisation. thus ensuring public benefil continues to b¢ delivered. The principal activity of the charity continLLCS to be the provision of a free, impartial service of informatio t11dAnCe And sunnftrt. and In exercise a resDonsible influence on the develooment of social Dolicies and seryices both locally and nationally. Any activities which ar¢ provided outside the geOaphICal surroundings of Milton Keynes are carried out by thc charity's trading subsidiary. li is the intention ofihe Irusteeg that Ihc residual surplus of the trading subsidiary will be donatcd to the charity under the gift-aid les. Ai presenl, no Such activities are taking place and the charity's Irading subsidiary is dorniaTht. CAMK was eontscted by 7428 people durfng the yeir and our advlsers helped them to Solve over 20.000 ieprte problems. I'he cosl-of_living crisis is the main driver for clients Conlacling us and needing support in areas such as welfare benefits. housing issues and debt problems including ergy. We collect evidence of clienls. problems and use this to conlribute lo public debate and lo campaign lor changes in national and local poli¢ie$ and services. Locally and nationally the charity works with policymaker$, regulators, MPS. Local Govemmenl, and service providers. Acblevements and performanc¢ CAMK is a medium sized urban advice bureau servicing a growing mclropolilan city with a current population in excess of 270.000. We wntinue to develop and deliver high quality services which are independently monitored and ¢valuat¢d and are available to everyon¢ regardless of age, race, gender disability> sexuality> or religion. In 2022 we celebrRted our 50 year as an establish¢d charity in Milton Keynes and we undertook a number of activities to raise our profile and extend the under$tanding of our work as a charity across the community. In (kiober 2022 we held our first public meeting sincc the Start of the pandemic and were pleased lo welcome Dame Clare Moriarty, Chief Executive of National Citizens Advice, as gucsl speaker, A5 this was part of our 50, celebrdtions we were also delighted to se¢, and hear from. some people who had becn involved in Citizens Advice when it first started work in Milton Keynes. The other major event as part of our celebrations was participation in the Rotary Club Swimathon in February 2023. This was an opportunity both to incrcase our profile and also to raise funds to support our work. Our thanks go to all Ihe staff and volunteers who helped with the organisalion and with taking part in the Swimathon on thc day. We are also tremcndously grate1 to all the people who made donations as we raised £10,000 from the event.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantoo) Report of the dlrectors (trustees)...continued For the year ended 31 March 2023 Achlevements and performance (eontlnued) CAMK provides both generalist and specialist servicc, guidancc, digital skills trainingi cmployment advice plus advocacy lo those in nee& many with complex financial, legal or personal problcms. S¢rvice5 ar¢ delivered through a mixture of channels including face to face appointments at several outreach eentres, telcphonc, video call, webchat, email, and text. The digital drop-in service conliThues lo grow and won th¢ Innovation of the Year award at thc National Citizens Advice annual conterence in 2022 which was a e8t achievement. We continue to work closely with key partner agencies across the city including mcdical cenlres, hospital$, adult social ¢are, and ¢ommunily hom¢less teams. Income for the year 2022-2023 amounted to £750,000 which enabled a wide range of advisory services to b¢ provided, som¢ rtyuiring accreditation and 811 requiring experience and knowledge. CAMK is th¢ primary provider of advicc Services in Milton Keyne8 and historically has been funded by Milton Keynes Council lo provide generalist advice to individuals with debt, housing, and benefit problems. This fvndin¥ has remained at £1 00,000 a year for several years and it also provides savings to Milton Keynes Council amounling lo some £360,000 a year. In addition, we received £118,000 from the Council lo operate a Homelessness Prevcnlion Support Service in collaboration with their Housing Support Officer8 and Adult Social Care teams which aimed to resolve practical issues for people with severe financial problems or complex family circumstances. We also received £49K lo provide an Advice and Inlorn)alion Service for Vulnerable Adults. We continued lo work with a number of Pari8h Councils offering an outreach service at their locations, and it is through the service al these location5 that we now offer most of our face.to-face appointments. We have also received enquiries from some additional Parish Counci18 wh¢r¢ w¢ cuffently do not operate service to dis¢u$5 the potential for 8 servi¢e, A core mission is to address Ihe problems of inequality and our work includes providin¥ rq)re5¢ntation lo Milton Keynes Child Poverty Partnership And working wilh health services. We are m¢rnbers of the Milton Keynes Mcnlal Hcalth Allian¢¢ which is a group of voluntary sector organisations aiming to shift the focus of the health system and commissioners onto the main socio-economic factors that detenninc health inequality. By doing this we hope lo build a Community of Practice to translate shared learning into local action and attract sustainable fimdin8 to Support Alliance membcr5. Wc also work with Macmillan Cancer Care to provide support for cancer patients and their families, and our funding from Macmillan has been increased to cxpand the service. We al80 extended our"Advice on Prescription" service at GP surgeries from 4 to 7 surgeries. Our Specialist Money Advice Service hYAS Continued to SUPPOrt people across Milton Keynes with serious debi and financial i8su¢s. Our funding forthe s¢rvi¢e has now been extended for this year and the following financial year. The merger with Works for Us {WtU) finally completed all its forn1 stages and is now fijlly absorbed within CAMK. Works for Us is a strong brand name in Milton Keynes and is bcing rdained to develop and deliver emplo)rynent and training services within the overall CAMK brand. Employment and training are ar¢as of growlK and the merger has opetLed up opportunitie5 to bid foraddilional funding and contraGts. The ex-CEO of Works for Us is providing consultancy support to our Director with ndIllg applications particularly in relation to employment and training.
Milton Keynes Citizens Advice Bureau (a charitable company limitod by guarantee) Report of the directors (trustees)...continued For the year ended 31 March 2023 Acblevem¢uts and perforniance {eontlDued) The Nalional tAyttery Community Fund grant awarded jointly to CAMK and Wtu in 2019 to enable our Integrdted Support and Advice Project lo be undertuken was ¢xl¢nd¢d unliL October 2023. Talks are due to take place in early summer 2023 with the National tA)ttery to see if there arc additional opportunitLe8 to obtain ndIng for a new project. CAMK uses every opportunity to promote voluule¢ring and we have recrnitoj a number of Irain¢c volunteers who will provid¢ significant support on complelion of training. We also entered into an agreemcnt with Buckingham Univcrsily aimed al their fvll-time 18W Students. Under this agreement. volunteering with CAMK will be a sclcctive module which will count towards the student's degree. There will be up to 10 sludents tn a 5ix-monih 8e8sion, and two sessions a year. so there is potential for up lo 20 sludenls over the year. The first students have completed their training with us and are now volunteering each month. This is an excitin¥ pak1nership which we are keen lo develop in the coming years. inanciai review Th¢ r¢$ults of the charity for the year are sel out in the financial slatcments on pages 13 to 34. Total revenue for the year was £749,549 (202112022,. £843,992). The net movement in funds for the year was a surplus of £13,140 (202112022.. surplus of £131,187), which included a surplus in unrestricted funds of £71,021 (202112022.. surplus of £122.777) and a d¢firit in restricted funds of £57,881 (202112022.. Surplus of £8,410). Thc principal fund¢rs during the year are as follows.. National Lottery Communily Fund Macmillan Cancer Support Milton Keynes Council Thc Money Advice Service Pari8h and Town Counci18 and Medical Centres CAMK delivered the Milton Keynes Council General Advice Service between April 2022 and Mar¢h 2023 and fvnding has been retiewed for a fvrther l2 month8 from April 2023. During the year w¢ again received fimding from the Money and Pensions Service {MaPS) which has 4 partnership with the National Association. These funds were used to provide free debi advice lo people experiencing financial hardship and lo those with a level of personal debt thal m¢ant th their household budgct ran at a deficit. In our last report we said that MaPS had confimied continuation of funding until JarLuary 2023 and this has now be revised and funding will continue until March 2025. This is excellent news because it means we will be able to continue to offer financial advice lo lh¢ Milton Keyne5 ommunity whilst also providing & measure of financial stability for us for the next two years. The Homelessness Prevention Support Service was extended and continued thrnugbout the 2022-2023 year and will now continue through 2023-2024, although th¢ focus may change slightly, while MKCC reviews Its overall setvice and funding arrdngejncnts with CAMK.
Milton Keynes Citizens Advice Bureau (a charitablo company limited by guarantee) Report of the directors (trustoes)...contlnued For the year ended 31 March 2023 FinAn¢lal review {¢ontiDued) Discussions were held with Macmillan Cancer service as they wished to increase the level of service we provid¢d and as a result we have received extra fvndin¥ to employ 2 additional members of staff lo increase thc service. The new agreement will continue until December 2025. The contraclual partnehipS with the wider health service have continued lo grow and this is an important element in our Business Plan stralegy of building upon our existing community business partnerships and extending our service. When the trnstee8 approved the annual budget for 2022-2023 1¢ showed a forecast deficit of £56K, to be fLded from unrestricted reserves. ThAnk$ to the hard work of the Direetor and his team in controlling expenditure and Successfully obtaining additional funds the final budget posilion shows a surplus 01£13K which 15 8 significant achievement. Investnientpowers andpolicies Underthe Memorandum and Articles of Associalion. the charity has power lo invesl in gny way Ihc tru51ees wish. The tNstees, having regard to the liquidity requirements of operating our servicc and to our re8¢rves policy, have operated a policy of keeping surplus funds in interest bearing deposit accounts. Reserves policy It is the policy of the charity to aspire lo maintain utwcstricted 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 8nd developmcnt of 115 activilic& made it prudent to aim to for this l¢v¢l of reserves whilst accepting that the main purpose and functiorA of ihe 8ervi¢e $hould not b¢ j¢opardis¢d by aiming for this. The actual reserves are £552,519. which includes unrestricted funds of £542,246 and thi8 equate$ to 7 months of budgetd ¢xp¢ndilur¢ in 2023-2024. With the increased uncertainty over future funding the Irustees are clear that this level of unrestricted reserves is necessary. The trustees are confident that CAMK is able to continue to meet its liabilities as they fall due for Ihe next year and that the accounts should be prepared on a going concem basis.
Milton Keynes Citizens Advice Bureau {a charitable company limited by guarantee) Report of the dlrectors (trustees)...continued For the year ended 31 March 2023 Plans for future perlods Thc 3-year Strategic Business Plan and its accompanying Strategic Implementation Plan are reviewed and revised every year in the light of known external factors and challenges that will impa¢l the local ¢ommunity (e.g. rising unemployment, cost of living crisis, housing shortages and rising mortgageslrents. plus population increasc), and thc scrvice we can providc {funding reductions. staff rectuitment difficulties And vOluntr shortages). The Plan s¢ls 6 key objectives.. l. Remain Financially Secure 2. Provide Resilienl Services 3. Build upon Successful Collaboration and PaTtnerships 4. Strengihen Reputation and Local Brand 5. Build the Best Team 6. r)evelnn F.mnlnvahilitv 8ervicc4. The trustees review progress against each objective al Board meetings and identify any ri8k8 which may affect progress and lake mitigaling action as necessary. The cornplelion ofthe mergcr with Works for Us has strengthened our ability across all objectives and has opened potential new opportunitiey to apply for fundy and grants, and has brought addilional, highly skillcd staff into the charity. The use of digital technology 18 increasing in all aspects of life and we have extended our training course offer to include digital training, which is proving very popular. This is an area of growth and will meet our charitable aim of helping to improve inclusion and accessibilily for Ihe people of Milton K¢yn¢s. Milton Keynes City Council remained unclear aknul its long-tenn plan8 for funding a generalist advice service, but we initiatd dis¢ussion8 and in Ihe next financial year intend lo provide Ihe Council with proposals on the services we could provide under a longer-t¢rn] financial agr¢¢m¢nt, The Plan also seeks lo meet the strategic priorilies of the National Citizens Advice, for example in campaigns lo influence government policy on homelessness or child poverty, both of which are also significant issues in Milton Keynes. As we said wli¢r in this Report, working in partnership with the health service is an importanl area of Service and we will continue lo develop and extend theses services acros5 different areas of Milton Keynes. Ai Ihe end of 2022-23 we mad¢ a suw¢ssful proposal to th¢ Crown Primary Care Network (PCN) to provide a Social Prescribing Service lo Iheir group of surg¢ri¢s in FY 2023-24, and we're hopethl that this will become an arca of gN)wth in subsequent years. In dev¢loping our business plans. the tntee8 and management have also considered the continuing growth of so ¢8ll¢d 'Greater Milton Keynes, i.e., those areas which are being developed for housing and commercial purposes at the city's Cuent boundarics. This rapid development, together wilh large new residential developmen¢s in the city centre, presents challenges for services like ours that are already dealing with record demand. The thousands of rLew homes created by this development, and the rise in overall population. will infonn our strategy around the Capacity and resourcing of futurc projects. We will continue to apply for grants and contracts which align with our overdll Mission and objectives and broaden the range of services we offer to the bencfLt of the local community.
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Report of tha directors (trustees)...continued For the year ended 31 March 2023 Trnstees, responsibilities In reladon to the fin*n¢ial $tatsmeDt The trustees (who are also directors of Milton Keynes Citizens Advice Bureau) for the purposes of company law are responsible for preparing the Report of the trustees and the financial slatements in accordance with applicable law and regulations. Company law requires th¢ ¢ru$ttts lo prepare financial statements for each financial year. Under that law the trustees have elected to prepare Ihe financial slalements in accordance with applicable law and United Kingdom Accounting Siandards (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 ttustees mltsl not approve the financial slAlementS LLnles5 they are salisfied that they give a tNe and fair view of the state of affairs of the company and of the profil or loss of the charitable group for that period. In preparing these financial 51alcmenls, the trustees are required to.. s¢lect suitable accounting policies and then apply them consistently. make judgements and accounting estimates that are reasonable and pnent. stale whether appliGabl¢ UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial staternents, and prepare the financial statements on the going con¢ern basi$ unlcss it is inappropriate to presume ¢hat the company will continue in business The tNslees are respL)nsible for keeping adequ81¢ a¢¢ounting records that are sufti¢ienl lo show and explain the charitable company's Iransa¢lions and disclose with 8$Ollabl¢ aUraCY at any tim¢ the financi81 position ol the company and enable them to ¢nsure that th¢ financial statements comply with the Companies Act 2006. They are also responsible for 58feguarding Ihe a5sds of the charilable company and hence for taking rea$onable 3l¢ps for the prevention and deleotion of fraud and other irregularities. The financial statements are published on the CAMK website in accordance with Icgislalion in the United Kingdom goveming the preparation and dissemination of consolidated financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the website is the responsibility of the trustees.
Milton Keynes Citizens Advice Bureau (a charitable company limitod by guarantee) Report of the dlrectors (trustees). .continuad For the year ended 31 March 2023 Dls¢lo$ure of InformAtlon to the Independent exanthiers So far as the trustees are aware, there is Llo relcvant inforniation of which the company's independent examiners are unaware. The trustees have taken all the $leps that they ought to have lak¢n as trustees in order to make themselves aware of any rel¢vant information and to tabliSh that th¢ company's independent examiners arc aware of that infonnalion. Appollltment of independent examlDerJ A resolution will be proposed at the Annual General M¢¢ting that Mazars LLP bc reappointed as independen¢ cxaminers to the charity for the ensuing year. This report has been prepared in accordance with the special provision5 of Part 15 of the Companies Act 2006 relating to small compani. 67 Approved And Autborlsed for158u¢ by the board on l ?/ / 2023 slgned on Its behalf by: Chrlstopher Par8on$ Dlrector (trustee) 2023 io
Independent Examiner's Report to the members of Milton Keynes Citizens Advice Bureau I rcport on the primary financial stalements (statement of financial activities, statement of cash flows, balancc shcct and related notes) for the year ended 31 Mawh 2023 sel out on pages Ihirtecn lo thirty-four. Respeetlve responsibilities of trustee5 and examiner The Irustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Aet 2006 ('Ihc 2006 Act,). Havin8 satisfied myself that ihe financial statements of the charity are not required to be audtled under Part 16 of the 2006 Act and are eligible for indq)endent examination, I report in respKt of my examination of th¢ charity's financial statements as carried out under section 145 of the Charities Act 2011 (Ihe 201 l Act). In canying out my examination I have followed the Directions given by the Charity Commission under section 145(b) of the 2011 Act. This pOrt, including my statement, has been prepared for and only for the charity's trustees as a body. My work has been uTJdcrtakcn 50 that I might state to the charity's trustees th05¢ matlers I am required to stat¢ lo them in an independent examiner's report and for no other purpose. To the fullest extenl perniitled by law, I do not accept or assume responsibilily to anyone other than the charity and the charity'8 trustees as & body for my examination work. for this report. OT for the 51alernenls I have made. Bas18 of the Independent tXAmlner'g report My ¢xaminalion was carried oul 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 comparisoll of the accounls present¢d with those records. It also includes consideration of any unusual items or disclosures in the accounls, and seeking explanalions from you as trustees concerning any such maii¢rs. Th¢ procedure5 undertaken do not provide all the evidence that would be required in an audit, and onsequently no opinion is given as to whether the accounts present a'lrue and fair view ' and the repotl is limited to those matlers set out in the statements below. Independent examlner's statement Since the charity's gross income exceeded £250,000, your exarniner must be a membu of a body listed in section 145 of the 2011 Act. I ¢onfirni thal I8m qualifi¢d lo und¢rt8k¢ the examination by b¢ing a qualified member of the Institute of Charterd AoUntantS in England and Wales which is on¢ of the listed iK)di¢s. In connection with my examinatiott which is complete, no matters have come to my &ttention which give rn¢ reasonable cause lo believe that in any material respect: accounting records were not kept in respect of Milton Keynes Citizens Advice Bureau in aocordance with section 386 of the 2006 Act; or the financial statements do not accord with those re¢ords; or th¢ financial StatnlS do not comply with the a¢counling requirements of sxtiorL 396 of the 2006 Act other than any requirement that Ihc financial stalcmerLts give a 'truc and fair, view which is not a matter considered as part of an indendent examination. or
David Hoose (Aug 15, 2023 10:04 GMT+1)
Aug 15, 2023
Company Registration No: 2265182 Milton Keynes Citizens Advice Bureau (a charftabla company limited by guarantee) Statement of flnanclal actlvltles For the year ended 31 March 2023 Unregtrlcted funds Restricted fundi Total 20221 2023 Total 20211 2022 ot Income and endowments from: Donations and legacies Charitable activities Other income Investmen18 Total ID¢ome 36,290 429.063 36.290 707.598 7,025 786,302 50,630 35 843,992 278,535 5,661 471,014 5,661 749.549 278,535 Expendlture on: Raising n(ts Charilable activities Total expendlture 17,189 490,075 507,264 17.189 719,220 736,409 17.114 695,691 712.805 229.145 229,145 Net (expendlture) I Income (36,250) 49,390 13,140 131.187 TrAngfer8 between funds 107.271 107 271 Net movement In funds 20 71,021 (57,881) l3,140 131,187 Total fund$ brought fonvard 20 471,225 68.154 539,379 408,192 Total fvnds Caled forward 20 542,246 10,273 552.519 539.379 13
Company Rogistratlon No: 2265182 Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Balance sheet As at 31 March 2023 202212023 202112022 Notes Flxed Assets Tangible assets Inv¢stm¢DIs 15a 15b 10.601 350 10.951 11,922 350 12,272 Current assets Debtors Cash at bank and in hand 17 60,759 519,664 580,423 30,947 525 595 556,542 Credltorj: amounlg falllng due witbin one year 18 34.475 25,055 Net current A8set8 545 948 531,487 Provi8ion8 for liabilities 19 (4.380) (4.380) N¢t a$8et$ 552,519 539,379 Income fundi Unrestricted Advice Services Deslgnated 444,296 382.311 20 542.246 471,225 Restiicted 22 10.273 68,154 552,$19 539,379 14
Company Registration No: 2265182 Mllton Kaynes Citizens Advice Bureau (a charltable company limited by guarantoe) Balanco sheot As at 31 March 2023 The charitable compaTJy is entitled to exemption from audit under Section 477 of the Companies Act 2(M)6 for the year ended 31 March 2023. The members have not required the ¢ompany to obtain an audit of its financial statements for the year cnded 31 March 2023 in accordan¢¢ with Section 476 of the Companies Act 2006. The trustees aCklw1edge 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 finart¢ial statements which give a trne and fair view of the $late of affairs of th¢ company Y15 al the end of each financial year and of its surplu8 or deficit for ¢a¢h finan¢ial year in accordance with the requirements of Sections 394 and 395 and which oth¢rwise comply with the rcquirements of the Companies A¢1 2006 relating lo financial slalements, so far as applicable to the company. The8e finftncial $talements have been prepared in accordance with th¢ splJI provision8 of Part 15 of the Companies Act 2006 relating to small compmnics. Approved and iuthorlsed forlgsue by the boArd 17 by: 2023 lod $l£ned oll Its behalf Christopher P*r4oDs Dlrector 2023 Th¢ notes on pages 18 to 34 form part of these financial statements. 15
Company Registratlon No: 2265182 Mllton Keynes Cltlzens Advice Bureau (a charitable company limited by guarantee) Statement of cash flows For the year Onded 31 March 2023 202212023 202112022 Cash flows from operntlllg activitie8: Net Cash provlded by operailng o¢rfleS Cash flows from Investlng a¢tlvhleg: Dividends, interest and rents from inve5tment8 Purchase of property. plant and equipment Purchas¢ of fixed asset investment 5.661 35 (6.392) (4,694) 350 14 Thnoi Change Ill casb And ¢*$h ¢qUIleTrts In the reportlng perlod (5.931) 160,049 Cash And CAsh equlv7dlents at ihe beglnnlDg of the reporting pcriod 525,$95 365J46 Ca¥h and cash equlvAlents at th¢ ¢nd of the reportlng perlod 519,664 323,593 Reconciliation of net income l (expendlture) to net cash flow from operatlng actlvlties For the year ended 31 March 2023 202212023 202112022 Net income l {expendlture) for the reporting period Adju8tm¢Dt8 for: Depreciation charges Dividends, interest and rents from investments (Increase) / Decrease in debtors Increase in creditors Net C745h provided by operatlng Activities 13.140 131.187 7,713 (5,661) 16,164 (35) (29,812) 872 165 058 16
Company Registration No: 2265182 Milton Keynes Cltizens Advice Bureau (a charitable company limited by guarantee) Analysls of cash and cash equivalents For the year ended 31 March 2023 202212023 202112022 Cash in hand and at bank Cash deposit accounts Total cagh and cash equlvilents 439,837 79,827 445.768 79,827 525 595 Analysls of changes In net dobt For the year 8nded 31 March 2023 At 8tart of ytar C•sh flow• At end of year Cash in hand and al bank Cash d¢posil account8 TOTAL 445,768 (5.931) 439,837 525 595 519 664 Comparatlvei for AnAlysl8 of changeg In net debt At start of yelr Caih flows At end of yeAr Cash in hand attd at bank Cash derrt)sit accounts TOTAL 285.719 160,049 445,768 79,827 525 595 365 17
Milton Keynes Citizens Advice Bureau {a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 CTenerAI Information Milton Keynes Citizens Advice Bureau is a registered charity and company limited by guaranlee. incorporated in England and Wales. The address of its registered otTice and principal place of business 18 disclosed in th¢ oompany infonnation on page l. The principal aotivity of the charity is to provide free, confidential. impartial and independenl advice for the benefit of the local community. The financial statemen15 are presented in Sterling and this is the fiCtiOnal currency of the charity. Monetary amounts in these financial slal¢ments are rounded to the neare81 £. Ac¢oundttg pollcles I IJ¥ kvlLvWLLI UWVUIILLII¥ WIlL¥> lidyf UffLA iiVVIiW ¥VII•i•L considor¢d material in relation to th¢ charitable company's fi¢1a1 $tatemenl8. (A) Basls of prep•r•tlon The ciiaritable company 15 the parent undertaking of a small group and, as such, 18 not required by the Companies Act 2006 t() prepare &Troup accounts. These financial stalcmeThls therefore presenl inforniation aboul the charitable company and individual undertaking and not abuut its group. The financial statements have been prepared in acconlance with Accounting and Reporting by Charilies.. Stalem¢nl of Recommended Practice applicable to charities pr¢paring their accounts in accordance wilh the Financial Reporting Standard applilable in lh¢ UK and Republic of Ireland (FRS 102) (effective l January 2019) - (charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Milton Keynes Citizens Advice Bureau m¢¢ls the definition of a publi¢ benefit entity under FRS I02. Assets and liabilities are initially r¢¢ogni8cd at historical cost or transaction value unless oth¢rwise slated in the relevant accounliNg policy note(s). The principal accounting policies adoplcd in the preparation of the financial statements are set out below. {b) Going Concern Th¢ financial slaletnents have been prepared on a going conc¢m basis since the Trustcc$ are Confident that the Burcau is able to continue to meet its liabili11 as they fall due for th¢ next year after the accounts have been 8ign¢d. 18
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to tha financial statements For the year ended 31 March 2023 Accounting policies (continued) (¢) Combination The combination with the Works for Us charity was completed on 14 February 2022. Al a result, the assets and liabilitie8 of Works for Us were transferred into the control of Milton K¢ynes Citizens Advice Bureau al nil c4)nsideration and w¢r¢ in substance a gift, As th¢ fair value of the assets reccived exceeded the fair valuc of Ih¢ liabilities assumed. a gain was recognised and shown separately within income. {d) Judgements ID apPIng accountlng polities #nd key sources of estlmation uncertainty In applying Ihc company'5 accounting policies, the direclors are required to make judgements. estimates and agsumplions ill detennining the ¢anying amounts of assets and liabilities. The directors, jud¥cmenls, cslimates and assumptions are based on the best and most reliable evidence available at th¢ time when the decisions are made. and are based on historical experience and other factors that are considered to be applicable. Due lo inherent subjeclivily involved in making such judgements. eslimales and agsumplions, thc actual results and outcomcs may differ. The Csiimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounlin¥ estimates are recogni8ed in the period in which the estimate is revised, if the revision affects only ihat period, or in the period of thc rcvision and future pcriods, if the revision affects both current and future periods. The key cstimales and assumptions madc in these accounts are the alloclllion ot centrnl support costs which are allocated on a basis using an estimated tim¢ and effort percenta8e. (e) Income Income including donations, gift5 and legacies and grants that provide corc funding or are of g¢ner81 naiur¢ rQgniSed where Ihere is entiilement, certainty of receipt and the amount Can be mea$uTd with r¢asonablc reliability. Such income is only deferred when: The donor specifies that the grant or donation musl only be used in tUre accounting p¢rtods,' or Thc donor has imposed conditions whi¢h must b¢ m¢t befor¢ the charity ha8 unconditional entiilcmcnt. Investment income is recognised on a re¢¢ivable basis. Income from Gharitable activiti¢s includes income received under contract or where entLilemenl to grant funding is subj¢th to Splf1¢ perfonnance activities and is recognised where there is entitl¢menl. certainty of receipt and the amount can be measured with sufficient reliability. 19
Milton Keynes CitiZ8ns Advica Bureau (a charitable company limitad by guarantee) Notes to the financial statements For the year ended 31 March 2023 AccouDtiDg poll¢les (coDtIDued) (O Volunteers Ind donated $ervlee8 aod fAcilities The value of scrvices provided by volunteers is not irtcorporated into these financial stalemenls. Where services are provided to the charity as a donation that would nomially be purchased from suppliers, this contribution is based on the value of the contribution lo the charity. (g) Expendlture Expendilurc is regniSed when a liability is incutTa. Contractual aTran8ement8 and perfotinan¢e rel&ted antS are recognised a8 8(H)ds or KrviGe$ are supplied. Other grnnt payments are recognised when 8 constructive obligation anses that result in the paymeni being unavoidable. Charitable activities are the costs of op¢rating the Milton Keynes Citizens Advi Bureau excluding governance costs. Governance costs include those costs incurred in the governance of the Charity and its assets and primarily associated with constitutional and stalutory requirements $uch as audit fees. (h) Irreeoveroble VAT All resources expended are classified under activity headings that aggregate all costs r¢lated to the category. Irrecoverable VAT is char8¢d against the category of re80urce8 expended for which it was InCued. (l) OperAIIDg lei$es Rentals payv¢bl¢ under operating leases a charged on a strnight-liThe basis over the terni of thc leases. U) Investments Financial investments are held at market value. The overnll net gain or loss on raluatIon is shown in the slatement of fllwicial aclivities. Investments in subsidiari¢s are shown at historical cost. Non-firLancial investments are measured initially at cost and sUbseqU¢1Y Measur at fair value unless fair value cannot be measured reliably in which Case it Is measured at cost less impaim)ent. 20
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantoe) Notes to the financial statements For the year ended 31 March 2023 Accountlng policles (CODtinued) (k) Ci8h and Cash equlvalents Cash and cash equivalen15 are cash and short terni highly liquid investments with a short maturity of three months or les8 from the date of acquisition or opening of the deposit or similar account. (I) FIDAnclAI Instruments The charity only ha8 financial assets and fina181 liabililies of a kind that qualify as basic financial instruments. Basic financial inslnunents are initially recognised at transaction values and subsequenily measured at their Settlement value. {m) Tlnglble (Ixed a$s¢ts All assds Costing more Ihan £250 are capilalised at cost and deprecialed. As8¢ts oiher than computer equipment are deprcciated over periods of three to five year$ on a slraighi-linc basis. Computer equipment is dq)recialed over two years. Assets that are acquired with the aid of splf1¢ capital 8rani8 are capitalised and the relevant l trcalcd as restricted income. (n) Flxed Asset Investments All fixed asset investments are held in the UK at cost. {0) Fundg strneture Re$tricted funds are fimd$ where Ihc donor requires that a donation must bc spent on a particular pUoSe or where funds have been raised for a specific purposc. (p) Penslon cogts Contributions payable to the defined conlribution pension scheme are charged to the profit and loss accounl in the period to which they relate. Legal 8tAtus of the Mllton Keylles Cltlxens Advlce Bureau The charitable ¢ompany is litnit¢d by guarantee and has no share ¢8Pltal. Th¢ liability of ¢h member in the ¢v¢nt of a winding up is limited to £1. 21
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to tho flnancial statements For the year ended 31 March 2023 Aetlvltles In furtherance of the charlty'8 objects All revenue, net income before taxation and ncl a5S¢ts is derived from the charity's principal actLVity, entirely in the UK. Statement of flnancial activities for the y¢•r ended 31 MArcb 2022 Unrestricted fund8 Restrlcted funds Total 20211 2022 Notes IncoD)e and endowments from: Donations and legucies Charitable activities Other income Investmenls TotY41 Income 7,025 541.017 29.344 35 577.421 7,025 786,302 50.630 35 843.992 245,285 21,286 266,571 Expendlture OD.. Raising funds Charitable activitie8 Total expendlture 17,114 526,920 544,034 17.114 695,691 712,805 168,771 168,771 Y4¢t (exp¢ndlture) I Income 33,387 97,800 131,187 Tran5fen between fund8 89,390 89.390 Y4et movemenl In funds 20 122,777 8,410 131,187 Total funds brought forward 20 348 448 408 192 Total funds carried forward 20 471,225 68,154 539,379 22
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 IDcome The following schedule s¢t5 Out infomlation concerning the major revenue grdnts received in the year. 202212023 202112022 Charitable activities Milton Keyn¢s Council Revenue and Benefils Service Advice and Infomialion Service- Vulnerable Adults Homelessness Advice & InfOrntiOn Service Universal Credit- Help lo Claim Cost of Living grant loo,000 100.000 Milton Keynes Council 48,744 48,744 Milton Keynes Council 118,000 118,100 NACAB (1,032) 212.576 NACAB GP Sur¥erie$ Parish and Town Councils Macmillan Ouireach Funding The David Family Foundation Money Advic¢ Servicc Face lo Face Debt Advice National Lottery Community Fund Integrated Support and Advice Project Milton Kcynes Community FouDdalion- Works for Us Transf0MtIOn Project NHS BLMK- Suicide Prevention National Lottery Community Fund Awards for All- Digital Drop-In Project Community Action: MK- PCN Project: Trdn8forn]ation Paradigm Housing Association- Debt Advice Other 15,000 27,500 40,450 75,047 2.000 124.952 8,750 12,137 36,757 3,850 147.467 Restricted Fund Restricted Fund 115,223 97,818 R¢strictcd Fund 3.600 Restricted Fund 4,157 Restricted Fund 8,103 R¢$tri¢t¢d Fund 10.500 R¢51ricted Fund 12,000 3,354 707,598 103 786,302 23
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to tho financial statements For the year ended 31 March 2023 Income (eondnued) 202212023 Z021n022 Donatio cies Other 36.290 Other Works for Us combinlon fair valu¢ Works for Us combination fair value 29.344 Restricted Funds 21,286 50.630 Analy$19 of Movement In deferred Income 202212023 202112022 Balance at l April 8,750 Net movement for the year 1.573 8,750 Balance al 31 March Investment Income 202212023 202112022 Interest receivable on cash deposits 35 Expendithre 202212023 202112022 in Staff co818 17,189 17,114 24
Milton Keynes Citlzens Advlce Bureau (a charitablo company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 Expelldlture (¢ontittued) 202212023 202112022 Costs of a¢livitie8 in furtherance of the charit Stsff costs Partnership costs Premises expenses Telephone Printing. postage and stationery Office Equipment Staff training and travel Costs of volunteers Publications, subscrtptions and insurance Computer expenses Finance Support and A8cncy costs Professional fees Publicity and Markding Independent Examiner fees Depreciation Disbursements I¢COverable VAT Other exp¢n8C8 513,547 505.556 10,989 38,909 10,819 6,372 7,459 8.255 2.171 13.159 10,632 31,156 7,809 6,993 2,000 16,164 717 13,218 3,313 55,318 9,879 7,987 6,047 6,406 2.569 12.719 12,196 51.231 6,543 2,700 2,200 7,713 540 17,212 4,413 719220 695 691 10, Net illcome for the year 202212023 202112022 Net income for the year is Stated after charging: Ind¢p¢nd¢nt Examiner's remunerntion Depreciation Operating lease rentsls Land and buildings - Other 2,200 7,713 2,000 16,164 39.621 30,926 25
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to tho flnanclal statements For the year ended 31 March 2023 11. Employee8 202212023 202112022 Staff costs Wages and salaries Social security CO818 Pcnsion costs 486.589 30,846 13.301 479,645 30,893 12.132 530 736 522.670 No employee received remuneration of more than £60,000 (202112022.. Nil). The total remuneration of one key management personnel was £45,000 (202112022: £45,000). 12. Tru$te¢$ldlr¢ctorg remuneratloD The trusle¢$/dire¢tors are not remunerated (202112022: £nil). None of the tru8tecs/dir1OrS were reimburs¢d expenses durin8 the Iinancial ycar (202112022.. £27). The charity pur¢hased professional indemnily and public liability insurance during lh¢ year to indemnify employees and directors against liabilities arising as a result of negligence, The cost of thi$ insurance was £2.455 {202112022'. £2,620). 13. Staff numben The average number of persons anployed by the charity (includin8 directors) during the yeftr wa8 88 follows: 202212023 LYumb¢r 202112022 Number Full-time ffjuivalent 19.6 20.6 Employ staff 26 26 14. Taxatlon As the charitable ¢i)mpany is a registered charity, its income under schedule D is exempt from taxation. subjtxt to the provisions of section 505 of th¢ Income and Cotporntion Taxes Act 1998. 26
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 15(a) TADglble fixed Assets Leasehold ImprovemeDtI Flxtureg, fittings And furniture Telepbone and computer equlpmeDt Total Cost At l April 2022 Addilions 46.528 3.742 23.619 750 85,876 1,900 156,023 6,392 At 31 March 2023 50,270 162,415 DepreelAtlon At l April 2022 Charge for the year 42,074 1.957 21,101 1,428 80,926 4,328 144.101 7,713 At 31 March 2023 22,529 85,254 151814 Net Book VAlues At 31 March 2023 At 31 March 2022 15(b) Flxed A8set IDveJtments 202212023 202112022 Balance at l April 350 Net movement for the year 350 Balance at 31 March 350 350 Fixed Asset investments 350 350 All fixed asset investments are held in the UK at cost. The inve51rnenl 18 a painting purchased at a cost of £350 that was transferred into the control of Milton Keynes Citizens Advice Bureau following the cotnbination with th¢ Works for Us Charily in February 2022. 27
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notas to the flnancial statements For the year ended 31 March 2023 l& Other InvestmeDts- Company Thc charitable compatiy has a dornwit trnding subsidiary- Milton Keynes Citizens Advi¢e Bureau (Trading) Limited, a single member company limited by guarantee. The sole Memb of this company 18 Milton Keynes Citizens Advice Bureau, and this charitabl¢ ¢ompany stands as guaranior to th¢ sum of £1. 17. Debtors 202212023 2021n022 Tradc debtors Other debtors Laxaiion Prepayments and ac¢rned income 55.43 I 21 12,197 55 5,065 17,620 60.759 30,947 18. Credlton: amounts falllog due wltbiD OD¢ year 202212023 202112022 Trade creditors Other creditors Social security A¢cruals and deferrod income 10,271 7,472 561 20 I7.002 24,114 34,475 19. Provislon for Illbllltl The tTusl¢eOdireclors have set up a provision of £4,380 (2021122.. £4.380). This represents one month of the Bureau Dlrector's salary cosls that would bc paid if they were to leave the Bureau. 28
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to tha financlal statemants For the year ended 31 March 2023 20. Anilysis of movements In funds Unrestrleted Income funds R¢$trleted iDcome funds TotAI Balance at l April 2022 471.225 68,154 539.379 Nct (cxpenditure) / income for th¢ ycar (36.250) 49,390 13,140 Transfers for the year 107,271 {107,271) Balance at 31 March 2023 542 246 552 519 Tr•n$ftrJ from Reltrfcted Funds Provision is made in the majority of restri¢t¢d funding projects for managcment and administration costs. These cogls are borne by unrestricled funds and then an appropriate transfer is made in accordance with the fijnding contract on an annual basis. ComparAtlve8 for analy813 of mov¢ment$ ID fundi Unrejtrlcted Income funds Re8trleted Income Total Balance a¢ L April 2021 348,448 59.744 408.192 N¢¢ Iorne for thc year 33,387 97,800 131.187 Transfers for the year 89.390 (89,390) Balallce at 31 March 2022 471225 539 68 154 79 29
Mllton Keynes Cltlzens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 21. AnTAlysls of net ass¢ts betwe¢n fund8 Unrestrlcted Restrlcted Income iD¢ome Funda Fundj Total 2023 Total 2022 Fixcd asset8 Current assets CwT¢nt liabilities Provision for liabilities B4lattee at 31 MArch 10,951 552,381 (16,706) 4.380 542 246 10.951 580,423 (34,475) 12,272 556,542 (25,055) 4,380 539 552 519 79 28,042 (17,769) 'I'he unrestncled nd includes designated fjlnds of £97,950 (2021122.. £88,914). These w¢re Set up by the trustees to aeai witn ruiurc poieniiai siaiuiory Iinan¥iJi ¢omIiiiiJyivTIiy yuLii i¢UUiLUUiLLy osts lolalling £54,000 (2021122.. £44,(K)O), the potential costs of having to relocate the operations of £33,000 (2021122.. £33,WO) if funding decreases significantly and the writ¢-down of fixed asse¢$ of £1 I,000 (2021122: £11,900) currently held by the Bureau. Comp4ratlve$ for Anly81i of ntt a8$ets between fundl UDrutrle¢ed Re$trlcted Income Ineome Funds Fundg Tot1 2022 Fixed assels Current assels Current liabilitics Provision for liabililies Balance At 31 MArch 12.272 485,051 (21,718) 12,272 556,542 (25,055) 71,491 (3,337) 471225 539 68 154 79 30
Milton Keynes Citizens Advice Bureau (a charitable company limited by guarantee) Notes to the financial statements For the year ended 31 March 2023 22. All&lyslg of r¢strieted funds Balance asat 01 April 2022 Incomlng Resource8 Outgoing Resources Transfers BalAnce Asat 31 Mareh 2023 Money Advice Scrvice Face lo Face Debi Advice Jntcgratcd Support and Advice Project Digital Drop-ln Milion Keyncs Community Foundation Milton Keynes Council Paradigm Housing - Debt Advice Crealing Confidence Through Art and Coaching Health Inequalities PCN Collective 124,952 (66,167) (58,785) 48,198 115.223 8,103 (159,428) 2,856 (8,103) 6.849 2,529 17.427 (890) (1.150) (1.639) (19,877) 3.600 12,000 (12.000) 4,157 {1,510) (390) 2,257 1.167 229 145 107 271 Restricted funding continued ¢0 be receivcd for the Money Advice Service Face to Face Debt Advicc proj1, which was in partnership with the National Association. This supports the delivery of frec to clienl face-lo-face dcbt advice in the most financially excluded geographical areas and lo the most financially excluded 80cial groups. Restricted funding was received from the National IK)Itery Comniunity Fund for the Integrated Support and Advi¢¢ project. Thig project aim5 to support p¢oplc in unslable and low-income employment. Restricted funding was received from the National tA)ttery Cornmunily Fund 'Awards for All, grnnt progrdmme for the Digital Drop-ln project. This project will enable people in Milton Keynes to access one of the Bureau's advisers via a secure video plaiforni, without a prearranged appointment, It is designed lo work in tandem with Ihe Bureau's improved and expanded advice services which have been delivered by telephon¢. email and webchat since the pandcmic began. The following 2 Restricted ndS were transferred tnto the eontrol of Milton Keynes Citizens Advice Bltreau following the Combination with thc Works for Us ¢harity in F¢bnry 2022.. Funding was provided by Milton Keynes Community Foundation for a Supported Volunteer Project. Funding was provided by Milton K¢yn¢s Council for the Women and Work project to support women access work during the COVID pandemic. Restricted fvnding was received from the Paradigm Housing Association for a Debt Advic¢ servic¢. This project aims to 5UPPOrt housing association tenants with debt advicc. 31
Milton Keynes Citizens Advice Bureau (a charitable company limlted by guarantee) Notes to the financial statements For th8 year ended 31 March 2023 22. AnAlysls of restrlcted funds {contlnued) Re8lricted fjJndiThg was rcceived from NHS BLMK for a Creating Confidence through Art and Coaching project. This project aims to offer an infornial, play1, crealive, and reflective space that will enable participants to explore and practice self-carc that leads to lif¢-balance and positive well. b¢ing. Restricted funding wos reccived from Community Action.. MK for the PCN Collective. The aim of this fiinding iq tn develop an integrated model of peer. welfare and art therapy support for pati¢nl$ with SMI within The Crown and The Bridge PCNS. Comparatlveg for anAlysls of r¢$trlcted fund6 B#l8nee Incomlng AS at Resources 01 Ayi'ii &vZI Outgolng Resourceg Tr#n$fers Balance ag V4t 31 March ?n*• Money Advice Servic¢ Face lo Face Debt Advice Intcgrated Support and Advice Project Digital Drop-ln Milton Keynes Community Foundation Milton Keynes Council Working Wardrobe Co-op Lloyds TSB Foundation 147,467 (111,998) (35.469) 32.860 26,884 98,303 (38.843) (17.002) (44,122) (9,882) 411,198 3,039 17.845 30 2.327 (510) (418) 2,529 17,427 (30) (2,327) 266 571 168 771 Restricted funding continued lo be received for Ihe Money Advice Service Face to Face Debt Advice proj¢ct. which was in partnership with the National AssoGiation. This supports thc delivery of free to client face-to-face debt advice in the most financially excludcd geographical ar¢as and to the most fLoancially excluded social groups. Restricted funding was received frorn the National Lottery Community Fund for th¢ Integrated Support and Advice project. Thi8 project aims to support people in unstable and low-ineome employment. Restricted ndIng was reeeived from Milton Keyncs Community Foundatio The Dplvid Family Foundalion and Bletchley and Fenny Stratford Town Council for the Digital Drop-In project. This proj¢th will enable people in Milton Keynes to access one of the Bureau's advisers via a secure video platforni, without a prearranged appointment. It is designed to work in land¢m with thc Bureau's improved and expandcd advlce services which have been delivered by telephone, email and wcbchat since the pandemic began. 32
Milton Keynes Citizens Advice Bureau (a charitable company limited by guaranteo) Notes to the financial statements For the year ended 31 March 2023 22. Analys18 of r¢stricted funds (contlllued) Th¢ following 5 Restricted funds were transferred into the cont1 of Milton Keynes Citizens Advice Bureau following the combination with thc Works for Us charity in F¢bnry 2022: Funding was provided by Milton Keynes Community Foundation for a Supported Volunteer Project. Funding was provided by Milton Keyn¢s Council for the Women and Work project lo support women access work during the COVtD pandemic. The Co-op Foundation provided a grant towards computer equipmen¢ atid software. Also. funding was provided for the Working Wardrobe project to provide good quality int¢rvicw clothes. The Lloyds TSB Foundation for England and Wales provided fidIng for a part-time 1nfonnati0 advice and guidan¢¢ worker to provide one to one advice. 23, Pen8loD costs In October 2015. Ihe Bureau launched a NEST pension scheme. In addition, following the combination with Works for Us in F¢bruary, the Bureau also has a True Potcnlial pension sch¢mc. Both of these schemes are in place in order that Ihe Bureau complies With its Auto Enrolmenl obligaliony. Amounts paid by the Bureau during the year totalled £13,496 (202112022.. £12,132) and amounts owed al the year end werc £276 (202112022.. £471). Contributions are charged io the charitable activities on which the employee has b¢en engaged during the financial year. 24. Flnancilll commitments Al 31 March 2023 the charity was committed to making the following payments under Thon- cancellable operating lease8 in th¢ year to 31 March 2024: LAnd And bulldlngs 202212023 202112022 Other 202212023 202112022 Operdting leases which expire.. Within l year 9,126 4,916 5,390 B¢lween 2 and 5 years 2.282 4,042 25. Related p*rty transaction8 Advanlage has been taken of the exemption conferred by Section 33 of FRS 102 not to disclosc all transactions with other group companies. 33
Milton Keynes Citizens Advlce Bureau (a charitable company limitod by guarantee) Notes to the flnanclal statements For the year ended 31 March 2023 26. C.omblnitlon The combination with the Works for Us charity was completed on 14 February 2022. As d result, the assets and liabilities of Works for Us were transfeffed into the control of Milton Keynes Citizcns Advice Bureau at nil consideration and were in substance a gift. A5 the fair value of the as$&8 received ¢x¢eeded thc fair value of th¢ liabilities assumed by £50,630. this gain was recognised as a donationlgift and shown separa*ly within income. 34
Milton Keynes Citizens Advice Bureau {a charitable company limited by guarantee) Detailed statement of financial actlvltles For the year ended 31 March 2023 Unre8triet¢d Restricted funds funds TotAI 20221 2023 TotAI 20211 2022 Income and elldowments from: Donalion8 and legacics Grants and coniracls Other income Investments TotAI iDcome 36,290 429.063 36,290 707,598 7,025 786.302 50,630 35 843,992 278,535 5.661 749,549 471,014 278,535 ExpeDdlture oll: Salary related costs Partnership costs Premises expenses Telephone Print, p051, slalion¢ry Office equipment Staff training and travel Volunteer ¢osls Publiclltions etc. IT costs Finan¢¢ and agency Profcssional fees Publicity and Marketin8 Depreciation Independent Examiner fees Disbur8¢ments Other expenses Irrecoverable VAT Total expendlture 326.653 204,083 530,736 522,670 10,989 38,909 10.819 6,372 7,459 8,255 2,171 13.159 LO.632 31,156 7,809 6,993 16,164 2,000 717 3,313 13,218 712,805 55,318 8,377 7.613 5.883 5,376 2,545 11,793 11,394 31,109 6,466 2,700 7.713 2.200 540 4,372 17,212 507,264 55,318 9,879 7,987 6,047 6,406 2,569 12.719 12,196 51.231 6,543 2.700 7,713 2,200 540 4,413 17,212 736,409 1,502 374 164 1,030 24 926 802 20,122 77 41 229,145 Net Income (36,250) 49,390 13,140 131,187 TrAngfen between funds 107 271 107.271 Net movement in funds 71,021 (57.881) 13,140 131.187 Fund$ It l April 471,225 68,154 539.379 408.192 Funds at 31 MArcb 552 519 539,379 This page does not forn) part of tbe ststutory financial statements 35