Company registration number. 02373461 Charity registration number.. 900012 Teignbridge Citizens Advice Bureaux (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 Teignbridge Citizens Advice Bureaux Contents Reference and Administrative Details Trustees. Report 2to6 statement of Trustees, Responsibilities Independent Exarniner's Report ststement ol Flnancial Actlvitses 8alanee Sheet 10 Statement of Cash Flows 11 Notes to the Financial Statements 12to25 Telgnbrfdge Cltizens Advice Bureaux Reference and Administrative Details Principal Office 36-38 Market Walk Ne￿On Abbot Devon TQ12 2RX Company Registration Number 02373461 Charlty Reglstratlon Number 900012 Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malllng Kent ME19 4JQ Indep•ndent Examinor Thompson Jenner LLP Chartered A¢counlants 1 Collelon Crescent Exeter Devon EX2 8BA Page 1 Teignbridge Citizens Advice Bureaux Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together wilh the financial statements of the charitable company for the year ended 31 March 2024 which comply with current slatutory requirements, the charity's goveming documents and prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their a¢counts in a¢¢ordan¢e with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 {effective 1 January 2015) - (Charities SORP {FRS102)l. the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS102> and the Companies Act 2006. The Charity was incorporated on 18 April 1989 and Is a company limited by guarantee, having no share capital. The maximum liability of each member is limited to £1. Teignbridge Citizens Advice Bureaux is governed by its memorandum and Articles of Association as amended in November 2010. Trustees Mr Andrew Wilson {Chairl Mr Martin Bullen ITre8$urerl Mr Barry Dewhurst (Resigned 7 December 20231 Mr Geoff Willlams (Resigned 16 May 20241 Mrs Maureen Winn Oakley Mr Christopher Hole (Appointed 4 May 2023) Mr Gregory Dyke (Appointed 29 June 2023} Mrs Angela Richards Mrs Lesley Sheffield Objectlves and actlvltles Objects and alrns The charity's objects are lo promote any charitable purpose for the benefit of Ihe communlty in Teignbridge, by the advancement of edu¢alion, the protection and preservation ol health and the relief ol povety, sickness and dlstress. Alm3, ObJgcllve$, Strategies and Acllvltles for the Year Teignbrid9e Citizens Advice Bureaux aims lo provide free, conlidenlial, impartial and independent advice and informalion for the benefil of the local community. 11 aims to provide lh8 advice people need for the problems they face. ensurlng that indlviduals do not suffer from a lack ol knowledge about Ihelr rl9hts and responsibillties. The dual aim of the charlty Is to knprove the policies and practices that affect people's lives. Publ1¢ Beneflt The Iruslees have pard due regard to the Charity Commission's guidance on public benefit in deciding the activities undertaken by the chanty during the year. The trustees are satisfied that the information provided in the report and accounts meels the public benefit reporting requirements. The principal activity of Teignbridge Ci112ens Advice Bureaux remained the provision of free. confidential, independent and impartial advice. infomation and counsel for members of the public. This was provided through the Newton Abbot office and outreaches in Bovey Tracey, Buckfaslleigh, Buckland, Dawlish and Teigninouth (see our website for inlomation on our outreaches and how to get informats'on and advice). In addition lo general advice the following projects were provided- Famlly Law Cllnl¢: legal Gonsultancy and advice Action for Chlldren.. advice for users of children's centres In Devon Page 2 Teignbrldge Cltlzens Advlce Bureaux Trustees, Report 8uckfaslleigh Food Bank.. advice and support for users of Ihe food bank Chargtng for Care.. financial assessmenls lor social care needs Cost of Llving ProJe¢t.' generalist adwce for people affected by the cost of liwng crisis Dobt Advice Projèct EMPOWER: energy advice Health and Dlsablllty: complex welfare benefits problems Healthwatch.. advice and advoc8cy for people using heal(h or SOGI81 c8re serriGeS Homes for Ukraine.. advice and support lor Ukrainian guests and those hosting Ihem Household Support Fund Independent Ag•: generalist advice for olderpeople IT Support: a paid for setvice offering competitively priced support for individuals. community groups and businesses MS Advocacy Project.. for anyon8 who has or Is affected by multiple sclerosis Quids for Klds.. benefits advice service for families and young people with additional needs Training for Citizens Advice Devon Worklng-Age Carers Project: advice lor carers Energy Advlce Project IEAP).. energy advice Ac¢ess to Justlce & Improvlng Lives through Advice: legal advice on family law issues Chair's Report I have the pleasure to report on another successful year for this excellent local charity as 11 moves fofward after the pressures of Covid. 11 is always a pleasure lo see more Trustee$ join us and we have welcomed Chris Hole onlo the board having had a long career with National Citizens Advice. His experience will be most valuable. Addillonally, we welcomed Greg Dyke, an experienced Town Clerk. who brlng8 With hlm vast knowledge of local authority working. Barry Dewhursl retired a$ a Trustee but rem8lns as Clerk to the Board a positlon that Is of enormous help to me and our members. HIS diligence and attention to detail are second to none. As ever, we look to diversify Ihe board representation and seek new members from bolh community and commerce whose skills wlll contribute to sustain this organlsatlon. l am delighted that we continue to be represented at local authority level and I can report thal Lin Goodman Bradbury an executive of Teignbridge District Council and Colin Parker from Newton Abbot Town Council have been ele¢ted on behalf of their councils to join u5. Thelr support Is mosl valuable. My thanks go to our Treasurer for his financial plannlng and budgeting that plays such an important part In our development. Whilst uncertainty always plays a key part in our sustainabillly, Martin Bullen provides a constant slream of reports lo the board lor which w8 are mosl indebted A visual presence at local events is most important to help raise our profile and we value the efforts of Lesley Sheffield and Angle Richards for their hard work and enterprise al such events. which this year included a fire walk, and various community fairs. Our volunteers have shown thelr unwaverlng commitment during the year and I note with pleasure that numbers continue lo increase. The Trustees acknowledge the importance of their work, and their loyalty and dedication. Often dealing with the most challenging problems their work is highly valued. As we continue to provide this excellent servi¢e, l am pleased that ongoing recruitment and training helps to keep our numbers at a hi9h level. Such work can be both demanding and stressful and with this in mind we have joined forces with the Dartmoor Centre for Counselling and Psychotherapy. lo provide free mental health support for all our staff and volunteeis. Our volunteer representatlve, Karen Loader is always on hand to assist with referrals for this most Valuab￿ new service. P8ge 3 Teignbridge Citizens Advice Bureaux Trustees, Report As Chair, I have Ihe privilege of being the first amon9 equals leadin9 a team of Trustees dedicated lo overseeing the fortunes of Ihis most important local charity. l arn delighted to work with them and ihank them for their unwavering support. My thanks must also go to our funders fof Continuing to recognise the difference that a free impartial advice service makes to the people of Teignbridge during uncertain and Ghanging times. I will continue to work with like-minded organisalions and the Trustees of other local offices to ensure the sustainability of Crtizens Advice Teignbridge. Andrew Wllson Chalr, Trustee Board Chl•f Offlcar's Report We can all face problems that seem compllrated or intimidatin9. Al Cilizens Advice Teignbridge. we believe no one should have lo face these problems wilhoul good quality, independent advice. We offer confidential advice online. over the phone. and in person. for free. . When we say we're for everyone, we mean It. People rely on us because we're Independent and totally Impartial. No one èlse $ees so many people with $0 many different kind$ of problems, and thalglves us a unique in$ighl Into the challenges people are facing today. With the righl evidence, we can show big organisatlons from companles rlght up to the government - how they can make thlngs belter for people. That's why we're here.. to give people the knowledge and the confidence they need lo find their way fo¢ward - whoever they are, and whatèvèr their problem. We are an Independent charity and part of the Citizens Advlce ne￿ork. Most of our team are tralned volunteers, and we are supported by local councils, a vaiiely of specialist funders and the general public. We serve a populalion of 135.000 across Teignbridge. In 2023-24, we advised 6,837 unique clients (an Increase of more than 1,000 on the prevlous year), dealing with 22,233 issues and securing Incorne gains for clients of mole than £2.5 million, which are mainly spent in the local economy on ordinary daily expenses. In the last year. our clients have continued lo slruggle as a result of the cost of living crisis, with around 70°h of all enquiries prompted by the crisis. We have struggled to meel the demand bul are satisfied thal we have done our best lo milioate the worst effects on our client$ of (he cosl of living crisis. The financial climate in recent years has made it $19nificanlly mor& difficult for funders to provide financlal supporl for our services and there is more competition amongst volLJntary sector organisations for the funds that are available. We are extremely grateful to our lunders for their support and lo our volunteers and staff for their unerring commilmenl and dedication to our clients. The funding climate means that we have worked more closely with partners and stakeholders lo create efficiencies and to secure funding for larger collaborative projects so Ihal services can be provided across dislTlCts and counties. We are grateful, in particular. to our fellow local Citizens Advice offices and to Citizens Advice Devon of which we are all members. Vine•nt Willson Chief Offlcer Page 4 Telgnbrldge Cltizens Advice Bureaux Trustees, Report Rlsk and uncertalnty A risk management strategy was agreed by the Trustee Board as part of the business planning process. The Trustees recognise that any major risks lo which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end Teignbridge Citizens Advice Bureaux is continualty monitoring and managing its risk and ensuring action plans are in place to mitlgate its key risks. Included in external risks is that of the loss ol funding. The effects of this have been minimised by the procedures in place. which have resulted in funding being secured from a variety of sources. The charlty continues lo seek to diversify its funding sources. Internal risks are rninimised by Ihe implantation of procedures for aulhorisation of all transactions and projects and lo ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed lo ensure that they still meet the neèds of the charity. Pollcy on reseNes Teignbrldge Cltizens Advice Bureaux is required to ensure that free monles are available in each financial year to meet any reasonably foreseeable contingency. The charity will maintain a projection of income for al least three years ahead and will ensure that thls conllnues lo be derived from as wide a variety of sources as possible. They will take all necessary steps to ensure that al no time wilhin this period would il be possible for the cessation of one or more funding streams to present so serious a Challenge to the future of the organisation that it could not be managed so as to continue to provide a best value advlce service. In reviewing the policy in 2024, it Is clear that six months core costs, disregarding any recharges to projects, is approximately £155k. If il became necessary to pay all project employees lor three months wllhout project funds that could add £91 k lo core costs. However, it is exp6Gled that the majority of project staff will be enlilled to no more than four weeks redundancy pay and we usually have funds paid in advance into our ac¢ounls lor projects so the related risk is slgnificantly less. Based on redundancy calculalions and eligibility for current project staff this reduces to £25k. The Trustee Board has therefore resolved that £180k is our reserve largel- £1 $5k of which is six months of Core expenditure including any Gore redundancy requirements, plus £25k redundancy contingency for project staff. Al 31 March 2024, Ihe total reserves were £331,393 {2023 - £327,756) of which represented unrestri¢led funds of £321.075 {2023 - £322,140). including £80,892 designated funds, and restricted funds of £10.31812023- £5,616). Plans for futur• p•rlod$ Going concern The trustees have given due consideration to the impact of the cosl of living crisis and the rernaining long-term impact of Covid and the eflecl this may have on the charity and financial statements. At present, the trustees do not consider It to have a material impact on the balances included within the financial statements and do not consider it to cast any significant doubt upon the charity's ability to continue to operate as a going concern. Structure, governance and management Nature of governing document Teignbridge Citizens Advice Bureaux is a registered charity and a company limited by guarantee. The maximum liability of each member is lirnited to £1. Teignbridge Citizens Advice Bureaux is governed by ils Memorandum and Articles of Associalion as amended in November 2010. Teignbridge Citizens Advice Bureaux was incorporated as a company limited by guarantee on 18th April 1989. Page 5 Teignbrldge Citizens Advice Bureaux Trustees, Report Recwitment, Appointment of Trustees Trustees who are also directors of the company. are elected from the local community. Trustees are eleGled al the Annual General Meeting. A separate process agreed by the Trustee Board is followed for the election of the Chair and other officers. No other persons or bodies extemal lo the charity are entitled to appoint persons to the Tfustee Board. The board undeTslands Ihe importance of the diversity of ils trustees in regards to the Charity Governance Code and is mindful of this when going through the recruitmenl process for new trustees. Inductlon of Trustees Newly appointed trustees are provided with a comprehensive induction lo Teignbridge Citizens Advice Bureau thTough Ihe provision of training courses and rnenloring by established Iruslees. Related Partles Teignbrid9e Citizens Advlce Bureaux is a member of Cltizens Advlce, the operating nam8 of the National Association of Citlzens Advice Bureaux, which provides a framework for standards of advice and casework managemenl as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of Teignbridge Ci112ens Advice Bureaux to fulfil it5 harilable objects and comply with the national membership requiremenls. Org•nl$atlonal stnjcturn Teignbridge Citizens Advice Bureaux Is governed by Ils Trustee 808rd which is responsible for settlng the strategic direction of Ihe organisalion and the policy of the charlty. The Trustees Carry the ullimate responsibillty for the condu¢t of Teignbridge Citlzens Advice Bureaux and for ensurin9 that the charity satisfies its legal and contractual obligations. Trustees meet every six weeks and delegate the day-to- day operalion of the organisation to senior management. The Trustee Board is independent from management. Flnanclal Instruments Oblectlvos and pollcles The charity's activities expose It lo a number ol financlal risks Includlng credit risk and1Squldlty rl$k. Cash flow rlsk Due to the nature of the charitable activities and assets held, risk In ielation lo cash flow is considered lo be minimal, with funds bein9 held in in5tanl access UK bank accounts and our unrestricted resèrves being held in free cash not tied up in fixed assets. Crndlt rlsk The charity's prlnclpal financlal assets are bank balances. The credlt rlsk on Ilquld lunds Is Ilmlted because the counlerpartie5 are banks with high credil-ralings assigned by internalional credil-raling. agencies. The charlty has no signlficant ¢on¢&ntration of credit risk. Llquldlty rlsk In order lo maintain liquldity to ensure thal sufficient funds are available for ongolng operatlons 8nd future developments, the charity holds Surplus funds in instant access bank accounts. The annual report was approved by the trustees of the charity on . by and slgned on Its behalf Andrew Willson (Chair) Trustee Page 6 Teignbridge Citizens Advice Bureaux Statement of Trustees, Responslbllltles The trustees (who are also the directots of Teignbridge Citizens Advice Bureaux for the purposes of Company law) are responsible for preparing the trustees, report and the financial statements in accordance with the Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢e) and applicable law and regulations. Company law requires the trustees to prepare financial slatements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, Including its income and expenditure, for Ihat period. In preparing thes8 financial statements, the trustees are required to.. select suitable accounting policies and apply them con51Stently: observe the melhods and principles in the Charities SORP; make Judgements and esllmates Ihat are reasonable and prudent. slate whether applicable UK Accounting Slandards have been followed, subject to any rnaterial departures disclosed and explained in the financlal statements. and prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the charllable company will continue in business. The Iruslees are responsible for keeping adequate accounting records that are sufficient lo show and explain the charitable company's transactions and disclose wilh reasonable accuracy at any time the financlal posltion of the charitable company and enable them lo ensure that the financial slatements comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assets of the charitable company and hence for taking reasonable steps for the prevention and deleGtion of fraud and other irregularilles. Approved by e trustees of the charity on and signed on Ils behalf by.. Martln Bullen (Treasurer) Trustee Page 7 Teignbridge Citizens Advice Bureaux Independent Examiner's Report to the Trustees I report to the charity trustees on my examination of the accounts of Ihe chafity for Ihe year ended 31 March 2024 which are set out on pages 9 10 25. Respective responsibilities of trustees and examlner As the charity's Irustees of Teignbridge Citizens Advice Bureaux (and also its directors for Ihe purposes of Gompany law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.), Havin9 satisfied myself that Ihe accounts ol Teignbridge Citizens Advice Bureaux are not required to be audited under Part 16 01 the 2006 Act and are ellglble for Independent examination, I report In respect ol my examination of your charity's accounts as carried out under section 145 of Ihe Charitie5 Act 2011 ('the 2011 Act,). In carrying out my exarninalion I have followed the Directions given by the Charity Commission under seclion 14515>lb) of the 2011 Act. Independent •xamlnfjr'$ statoment Since Teignbridge Cilizens Advice Bureaux's gross income exceeded £250,000 your examiner must be member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to underlake the examination because l am a member of The Association of Chartered Certified Accounlanls, which is one of the listed bodies. I have completed my examinalSon. I confirm thal no malerlal rnatters have come lo my attenlion in connectlon with the examinatlon glvlng me cause to believe: 1. accounting records were not kept in respect of Teignbridge Citizens Advice Bureaux as requlred by section 386 of the 2006 AGI., or 2. the a¢¢ounls do not accord with those records,. or 3. the accounts do nol comply with the accounting requirements of section 396 of the 2006 Act other than any requirement Ihal the accounts give a 'lrue and fair view, which 1$ not a matter considered as part of an independent examination.. or 4. the accounts have nol been prep8red in oc¢ord8nce with the method8 and pnnciples ol th8 Slalemenl of Recomrnended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no cfincerns and have come across no other matters in connection wlth the examinatlon lo which attention should be drawn in this report in order to enable a proper underslanding of the accounls to be reached. David Tucker FCCA Th8 Association of Chartered Certrfied Accountants 1 Colleton Crescent Exeter Devon EX2 40G Page 8 Telgnbridge Citizens Advice Bureaux Statement of Financial Activities for the Year ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognlsed Gains and Losses) Unrestricted funds Rostricled funds Total 2024 Note Income and Endowments from: Charitable activities, donations & legacies Inveslment income Other income 248,244 7.803 6,758 349,180 597,424 7,803 6,758 Total Income 262,805 349 180 611985 Expenditure on: Charitable activities 229,198 379 150 608 348 Total expenditure 229 198 379150 Net income Transfers between funds 33.607 34,672 (29,970) 3,637 Net movement in funds Reconclllatlon of funds 4,702 Total funds brought forward Total funds carried forward 322.140 327,756 19 321.075 331,393 Unrestrlcted funds Restrlcl•d funds Total 2023 Noto In¢om• and Endowments from: Charitable activities, donations & legacies Investmenl income Other Income 145,273 2,999 4.224 397,111 542,384 2,999 5,000 Total Income 152 496 402 111 554 607 Expendlturo on.. Charitable acllvilies 157.560 427,109 584 669 Total expenditure 157.560 427,109 584 669 Net income Transfers betsveen funds 15,064) 7,206 (24,998) 7,206 (30,0621 Nel movement in lunds Reconcilialion of funds 2,142 32,203 30,062 Total funds brought fotward Total funds Carried forward 319,998 37,819 357,817 19 322.140 5,616 327 756 All of the charlty's acllvilies derlve from continuing operalions durlng the above two periods. The funds breakdown for 2024 and 2023 is shown in note 19. The notes of pages 12 to 25 form an integral part of Ihese financial statements Page 9 Teignbridge Citizens Advice Bureaux (Registration Number: 02373461) Balance sheet as at Year ended 31 March 2024 2024 2023 Note Flxed assats Tangible assets 12 14,925 19,795 Curront assets Debtors Investments Cash al bank and in hand 13 14 15 21,875 85,000 328.739 435,614 11,705 160,000 198.513 370,218 Credltors: Amounts falllng dug withln one year 16 119,146 62,257 Net curr•nl assets 316,468 307,961 Net assets 20 331393 Funds of tho charlty: RestrlGt•d 10,318 5,616 Unreslrlcted Income funds Unrestricted funds Deslgn8ted funds 240.183 236,695 Total funds 20 331,393 327 756 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under se¢tlon 477 of the Companies Act 2006 relatlng to small companies. Directors, responsibilities: The members have not required the ¢harlty to obtain an audlt of its accounts foT the year In questlon in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect lo accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies. reglme. ancial statements on pages 12 to 25 were approved by the twstees and authorised for issue on 1,,:)2y and signed on their behalf by.. Martin Bullen Trustee The notes of page$ 12 10 25 form an integral part of these financlal statements Page 10 Teignbrldge Citizens Advice Bureaux Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating actlvltles Net cash in¢omel(expendrture) Adjuslments to cash flows from nonwcash Items Depreciation Accrued expenses 3,637 (30.062) 12 4,870 (2,577> 5,237 4,132 Worklng capital adjustmonts Debtors Creditors {Decrease)lin¢rease In deferred income 13 16 17 (10,170) (2,866) 62,332 37,540 5,371 Net cash flows from operalln9 activities Cash flows from Investlng actlvltles Purchase of langlble fixed assels 55,226 28,285 12 22,772 Net (decrease)lincrease In cash and cash equlvalents Cash and cash equivalents at 1 April 55.226 5,513 358 513 Cash and cash equivalents al 31 March 413.739 358 513 All of the cash flows are derlved from conllnulng operations durlng the above two perlod$. The notes on pages 12 to 25 fonn an integral part of these financial statements. Page 11 Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The charily is incorporated in England and Wales and is a charity limited by guarantee and consequentiy does not have share capital. Each of Ihe Iruslees is liable to contribute an amount nol exceeding £1 towards the assets of the charity in the evenl of liquidation. The address of ils re9islered office is.. 36-38 Market Walk Ne￿On Abbot Devon TQ12 2RX 2 AcGountlng pollcles Summary of slgnrflcant accountlng poli¢le5 and key accountlng estlmatos The principal accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied to all the years presented, unless otherwise slated. Statement of compllance The financial statements have been prepared in ac¢ordan¢e with Accpunllng and Reporting by Charities.. Statement of Recommended Practi¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20151- (Charities SORP (FRS 102)), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2008 and Charities AGt 2011. 8asl8 of prèparatlon Teignbridge Cltizens Advice 8ureaux meets the definition of a public benefit enllty under FRS 102. Assets and liabilities are inilially recognised at historical ¢osl or transa¢lion value unless otherwise staled in the relevant accounting policy notes. The financlal stalements are prepared in sterung, whichls the functional currency of the charlty- Golng coneern The trustees consider that there are no material uncertainties about the chaFity's ability lo continue as a going concern nor any Significant areas of uncertainly Ihal affect Ihe carrying value of a$sels held by the charity. In¢ome and endowment$ Grants recelvable Grants are recognised when the charity has an entillement to the funds and any Gonditions linked lo the grants have been met. Where performance conditions are attached lo the grant and are yel to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Deferrnd Income Deferred income represents amounts received for fijture periods and is released to incoming resources in the period for which, il has been recelved. Such income is only deferred when.. The donor specifies thal the grant or donalion musl only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional enlitlemenl. Pa90 12 Teignbrldge Cltizens AdviGe Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 Expenditure All expenditure is recognised once there is a legal or conslru¢tive obligation lo that expenditure, it is probable settlement is required and the amount can be rneasured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent wrth the use of resources, with central staff costs allocaled on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable aclivitlos Charitable expenditure comprises Ihose costs incurred by the charity in the delivery of ils activities and services for its beneficiarie5. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary lo support them. Grant provl$lons Provisions for grants are made when the intention to make a grant has been communicated to the reciplent l)ut there Is uncertainty about ellher the liming of the grant or the amount ol grant payable. Support costs Support costs include central functions and have been allocated to a¢tivty cost categories on a basis consistenl with the use of resources. Governance costs These include the costs allributable to the charity's compliance with constilulional and s18tulory requirements, including audit, strategic management and trustees, meetings and reimbursed expense5. Taxatlon The charity is considered lo pass the tests sel out in Paragraph I Schedule 8 of the Finance Acl 2010 and therefore it meels the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covèred by Chapter 3 Part 11 of the Corporalion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acl 1992, to the extent that such income or gains are applied exclusively to charitable purposes Tanglble flxed assets Individual fixed assets costing £750.00 or more are inillally recorded at cost. less 8ny subsequent accumulated depreciation and subsequenl aG¢umulated impairment losses. Depreclalion and amortlsatlon Depre¢iation Ss provided on tangible fixed assets $0 as to write off the ¢ost or valualion, less any eslimaled rèsidual value, over their expected useful economic life as follows.. Asset elass Computer equipment Office equipment Leasehold improvèments Depreclalion melhod and rat• 33.33°h on Straight line basis 20•h reducing balance Straight line basis over Ihe remaining lifetime of the lease Trade debtors Trade deblors are amounts due from customers for merchandise sold or servi￿$ performed in the ordinary course of buslness. Page 13 Teignbridge Citlzens Advlce Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors are recognised initially al the transaction price. They are subsequently measured at amortised cost usin9 the effective interest method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence thal the Gharity will not be able to collect all amounls due according to the original terms of the receivables. Cash and cash equSvalents Cash and Gash equivalents Gomprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertlble to a known amount of cash and are subject lo an insignrficant rlsk of ¢hange In value. Trade credltor• Trade credrtors are obligations to pay for goods or services that have been acquired in the ordinary course of busSnes5 from suppliers. Accounts payable are classifled as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor lor al least hvelve months after the reporting date. If there is an unconditional right lo defer settlement for al least twelv& months after the reporting date, thèy are presented as non COVID Outbreak Management Fund {COMF) Outreach Homes for Ukralne Awards for All Clolhworkers Guild Trussell Trust Mid Devon PCN Independent Age Community Organlsalions Cost of Living Fund Growing Communitie$ Fund (DCCI National CA- Pol 1 National CA - Pol 2 {InC￿asIng Capacity) Energy Advice Project (EAP) Improving Lives Through Advice {ILTA) Total for 2024 77,307 52,130 77,307 52,130 18,600 15,732 48,184 18.600 15,732 48.184 6.900 1.256 57.354 32.058 6,900 1,256 57,354 32,058 14,000 3.354 14,000 3,354 29,375 29,375 25,418 25.418 15.980 15,980 11.756 11,756 72,948 6,000 15,000 58,625 10,795 8,168 72,948 6,000 15.000 58,625 10.795 8,168 248,244 349,180 597,424 Total for 2023 145,273 397.111 542.384 Page 15 Telgnbridge Cltizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 4 Income from investments Unrestrlcted funds Goneral Restrlcted funds Total funds Bank interest receivable 7.803 7,803 Total for 2024 7.803 7,803 Total for 2023 2.999 5 Other Incorne Unrestrlcted funds General Restrlct¢d funds Total funds Other income (training, IT support) 6,758 6,758 Total for 2024 6.758 6,758 Tolal for 2023 6 Expendituro on ¢harltabl• acllvlti•s by fund typ• Unreslrl¢t•d funds General Restrlcl•d funds Total funds Charitablè a¢tivitie$ Support Co$tS 159.048 342,843 501.891 106,457 Total for 2024 229 198 379,150 608.348 Total for 2023 157,560 427.109 584 669 Included in the expenditure analysed above, there are governance costs of £7,63012023 £12,449) which relate directly to charitable activities. See note 7 for further details. Page 16 Teignbrldge Cltizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 7 Analysis of support and governance costs 2024 2023 Slaff costs Premises Communicatlons and IT General Office Finance Cosis Governance costs Depreclation, amortisatlon and other simllar costs Sundry expens8S Reference materials Advertlsing and publicity 13,535 53,869 13,952 8,237 73 7,630 11,309 52,395 17,105 7,148 96 12,449 4,870 335 2,688 5,237 191 6,050 33 112.013 Gov•rnanc• costs Total funds Independent examlner fees Trustees remuneralior) and expenses Legal & Consultancy fees Ilncludin9 payroll servlces) Total for 2024 2,560 770 4.300 Total for 2023 8 Trustftes remunèration and exp•ns•s Trustee expenses amounted to £957 during the year in respect of travel and subsistence (2023 £1,503). No trustees, nor any persons ¢onnected with them, have received any remuneration from the charity during the year. No Irustees have received any olher benefits from the charity during the year. 9 Slaff co$t$ The aggregate payroll costs were as follows.. 2024 2023 Staff costs durlng the year were: Wages and salaries Social security costs Pension costs 420,893 25,867 404,905 25,344 461,627 449,457 Page 17 Tei9nbridge Citizens Advice Bureaux Notes to the Financlal Statements for the Year Ended 31 March 2024 The average head count of employees duTing the year was 22 12023 23). The monthly average number of persons (including senior mana9emenl leam) employed by the charity during the year expressed as full-time equivalents was as follows.. 2024 2023 No Number of staff IFTE equivalent) 12 19 2012023 - 201 of the above employees particlpaled in the Defined Contribution Pension Schemes. A further 4 employees had contributions made to private pension schemes12023 - 4). Contrlbutions to the employee p8nslon schemes for the year lolalled £14,867 (2023- £19,208), No employee recelved emoluments ol more than £60.000 durlng the year. 10 Indep•ndent fjxamlner's r•mun•ratlon 2024 2023 Examlnalion of the finanGlal statements Olh8r financlal $ervl¢es 2,560 2,430 4,500 11 Taxatlon The ¢harlty is a reglstered charity and Is therefore exempt from tax8tlon. Page 18 Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 12 Tangible fixed assets Land and Bulldings Fixtures and Flttings Equlprnenl Total Cost Al 1 April 2023 Additions 106,205 26,592 36.874 169,671 At 31 March 2024 106,205 26.592 36,874 169,671 D•preclatlon At 1 April 2023 Charge for Ihe year 87,988 25,014 316 36.874 149,876 At 31 March 2024 25,330 36,874 154,746 Net book value At 31 March 2024 1,262 At 31 March 2023 1,578 13 Debtorn 2024 2023 Trade Debtors Prepayments 13,670 8,205 7,268 4,437 21.875 14 Investment$ 2024 2023 Short-term investments 85,000 160,000 The investments are held in separate fixed-term notice and fixed-tem) maturity bank accounts. 15 Cash and cash equlvalents 2024 2023 Cash al bank Short-term deposils 328.739 85,000 198,513 160,000 413.739 358,513 Page 19 Teignbridge Citizens Advice Bureaux Notes to the Flnanclal Statements for the Year Ended 31 March 2024 16 Creditors: amounts falling due within one year 2024 2023 Trade creditors A¢¢Tuals Deferred income Social security and other taxes Pension Creditor Other creditors 9,479 9,185 95,457 8,022 11,762 33.125 6,108 542 2,698 3,287 119146 17 Deferred Income 2024 2023 Deferred Income at 1 April 2023 Resources deferred in the period Amounts rèlèased from previous periods 33,125 95,457 33,125 27.058 33,125 27,058 Deferred Income at year ond 18 P•nslon and other sch•meJ The Charily operales 8 defined conlribution pension scheme to fulfil its auto-enrolment obligations. In ad¢Jilion, Ihe charity has made arrangements with four employees to pay Into other prlvale pension schernes al the Same percentage rale as the defined contribution scheme. The pension cost charge for the year represents contributions payable by the charity to the schemes and amounted to £14,867 (2023 - £19.2081. Page 20 Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 19 Movement of Funds Balance at 31 March 2024 Balance at Incomlng Resources 1 April 2023 resources expènded Transfers Unrèstrlctod funds General unrestricted (incl outreach) Designated {Innovalion> Designated {HVAC depreciation) Community Organisations Cosl of Llving Fund 236.694 80.000 5.446 189,857 {151.696) (34,672) 240,183 80,000 892 14,$54) 72.948 72,948 322,140 262,805 229.198 321.075 Restricled fund8 Aclion for Children Healthwatch auids4Kids Victlm Support Devon C8r8r8 Fairer Charging Empower Debt Project {MAPS) Access to Justice Help lo Claim Multiple Sclerosis Advocacy Household Support Fund (Fuel) COVID Outbreak Management Fund {COMFI 1.990 18.600 15,732 48,184 (19,3331 (15,7321 (49.0821 1,257 1.525 627 6,900 (11.09S) 1,256 13,3571 57,354 (57,354} 32,058 - (62,535} 4.195 2,101 30,477 14,000 3,354 (14.000) (3,3541 Homes for Ukraine Awards lor All Clolhworkers Guild Tfussell Trust Mid Devon PCN Independent Age HITS Foodbank National CA- Pot 1 Growing Communities Fund IDCC) National CA- Pot 2 Energy Advice Project {EAP} Improving Lives Through Advice 25.418 (16,984) 8,434 15,980 {15,980) 11,756 {11,756) 15,000 6,000 58,625 10,795 8,168 {15,000) (6.000) {58,625) (10,795) 8,168 Total restricted funds 5.616 349,180 379,150 Total funds 327,756 611,985 608,348 331,393 Page 21 Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 19 Mov•mont of Funds Balance at 31 March 2023 Balance at Incomlng Resources 1 April 2022 resources expended Transfers Unrestrlcted funds General unrestricted (incl oulreach) Designated (Innovation} Designated (HVAC depreciation) 239,998 80,000 152,496 {157,5601 1,760 236,694 80.000 5.446 322,140 5,446 319.998 152,496 157.560 7,206 RoStrlct•d funds Action for Children Heallhwatch Quids4Kids Victim Support OASWACIA8C Devon Carers Falrer Charging He81 Well for Less Empower Debt Project IMAPS) Acc8Ss lo Jusli¢g.. Help to Claim Multiple Sclerosis Advocacy Household Support Fund (TDC) Household Support Fund (Fuel) COVID Outbreak Management Fund ICOMF) Homes for Ukraine Awards for All Clolhworkers Gulld Trussell Trust Mid Devon PCN Independent Age HITS Foodbank 5,684 16.100 15,838 48,184 5,141 119.794) 115,838) 148.742) (5,1411 1,990 2,083 1.525 7,925 13,143 (7,9251 (13,1431 4,307 12,178 (14,3851 49.212 {49,212) 143,157 (168,902) 1,760 14,000 2.101 25,745 (1,760) 114,000) 1,152 {1,152) 10,240 23,778 10,000 10,000 3.995 7,052 4.256 110.2401 {23,7781 110,000) (4.554) 13,995) {7.052) 14,256) (5,446) Total restrlcted funds 37,819 402111 427 109 7,206 Total funds 357 817 584,669 327,756 During the year unrestricled funds were transferred to unrestricted reserves. The transfer is on Ihe basis thal conditions relating to certain grants have been satisfied. Page 22 Telgnbrldge Citizens Advlce Bureaux Notes to the Financial Statements for the Year Ended 31 March 2024 Reslri¢ted Funds Aclion for Chlldren - a grant received to provide advice for users of children's centres in Devon. The service can provide a free benefil check. help with claiming benefits and give guidance on financial management. It can also help parenls understand how getting a job or changing the hours they work would affect their income and benefits. Healthwatch Dovon - a grant from Citizens Advice Devon to employ a Healthwatch Champion to assist clients in need. Qulds 4 Klds - a contractual arrangement with Devon County Council through Citizens Advice Devon to provide an income maxirnisalion service for families wlth disabled children. Vlctlm Care Network - a grant received to provide emotional and practical support servlces for vlctims of crime. Devon Advl¢e S•rvle•s for Worklngs Age Carers IDASWAC) - provlded by Devon County Councll through Citizens Advice Devon to provide an advice service for working age carers. Devon Carers Project - funding provided by Devon Carers through Citizens Advice Devon to provide an income maximisalion service for Devon'5 ¢arers. Falror charglng (Charging for Care) - a grant received to provlde benefits advice. H•at Woll for Loss- Provldes advice and information on fuel poverty. ft encompasses advice and assistsnce on bills and meter issues, fuel debt, minimising Costs (e.g., tariffs, discounts, grants), switching suppliers and energy efficiency. Empower Replaced Heal Well for Less providlng advlce and Information on fuel poverty. It encompasses advice and assistance on bills and meter issues, fuel debt, rninimising eosls (e.g., lariffs, discounts, granlsl, switching suppliers and energy efficiency. Debl Project (MAPS) - This project takes referrals from the core service for clients needing assistance with managing problem debt and It enables clients to make informed decisions on options for long6r term solutions A¢¢ess lo Justl¢a - a project which takes referrals from local Citizens Advice offices across Devon and provides legal advice lo clients in areas of social welfare law, including in particular, family and employment law. It is designed for clients who would otherwise be left wilhoul access to legal advice. Help to Clalm {Universal Credlt) - this was the set-up perlod, includlng recruitment and training, for a new national project 'Help lo Claim, due to launch in April 2019. This will offer support to clients with making a new ¢laim for Universal Credit. from opening an account to receiving their first full payment. Multiple Sclerosis Advo¢acy - enables the charity to employer a project worker to delivery general advice to clients and families affected by MS. Household Support Fund ITDCI- Project in partnership with Teignbridge District Council lo using the Household Support Fund to support those most in need of help with significantly rising living costs. Household Support Fund (Fuel) - Separate HSF project In partnership with other LCAS specifically for the distribution of fuel vouchers for Devon clients on prepayment meters. Contain Outbreak Management Fund (COMF) - funding provided through local government lo fund LCA staff to help support clients to reduce the spread of coronavirus and support local publlc health. Page 23 Teignbridge Citizens Advice Bureaux Notes to the Flnancial Statements for the Year Ended 31 March 2024 Homes for Ukralne- funding provided through the government's Homes for Ukraine Scheme Ihrough Teignbridge CVS lo provide help and support to Ukrainian families resettled in the Tei9nbridge area. Awards for All - a grant recelved to improve access lo outreach and other services for our clienls and lo improve our advice infrastructure resources. Clothworkers Gulld - a grant received from the Clolhworkers guild lo upgrade the organisation's offlce air filtration system. Under the terms of reference for our depreciation policy, part of this grant has funded depreciation of the asset in its first year and the remaining funds have been transferred to core to be held in a designaled depreciation fund for the asset. Trussell Trust- funding provided by the Trussell Trust to provide advisory services and support lo users of the foodbank in Buckfaslleigh. Mid Devon PCN - funding provided by Mid Devon PCN to provide advisory seNi¢es and support to patients at GP surgerles across the Mid Devon PCN area. Indopondent Ago funding provided by Independent Age lo work in partnership with the Caring harilies {Ashbtsrton & Buckfastleigh Caring,. Kingsleignton & Newton Abbot Caring and Teignmouth. Dawlish & Chudleigh Caring) to provide advisory services. support and home vi5ils lo Clients over the ages of 65. HITS Foodb8nk- funding provided by HITS Foodbank lo provlde dlre¢t support to cllenls through thlrd party provlder Charis In the form ol food vouchers or other necessities such as while goods. Comrnunlty Organlsations Cost of Llvlng Fund This grant from the National Lottery was a contribution lo our core fvnding and enabled us lo Increase our capacity lo meet the rising demand for advice connected with the cost of living CflSIS. Growing Communitles Fund This fund allowed us lo provide 5 days of Irainlng to local voluntary groups and social prescribing link workers in Teignbridge to enhance their ability to support the advlce needs of some of the most marginalised residents in the district. Natlonal CA- Pot 1 This grant from national Citlzens AdvSce enabled us to employ a member slaff to furlher Increase our capacity to meet the rising demand for advice ¢onnecled with the cost of living crisls al a lime when it was particularly difficult lo recruit volunteers. Natlonal CA- Pot 2 This grant from National Citizens Advice enables us to increase our Adviceline capaclly by fundlng 2 FTE advisers, one based al South hams and one at Teignbridge. Energy Advlce Project (EAP This project funds a specialist energy adviser to help tackle fuel poverty. Improvlng Llves Through Advlce (ILTA) This grant from the Access lo Justice Foundation funds a Legal Services Manager and Legal Adviser to provide legal advice on family law issues for litigants in person who are not eligible for legal aid but who cannot afford to pay for legal advice. Page 24 Telgnbrldge Cltizens Advice Bureaux Notes to the Flnancial Statements for the Year Ended 31 March 2024 20 Analysls of net assets between funds Llnrestri¢ted funds General Total funds at 31 March 2024 Re5trlcted funds Tangible flxed assets Current assets Current liabilities 14,925 425,296 119146 14,925 435,614 119146 10,318 Total net assets 321075 331 393 Unrestrlcted funds General Total funds at 31 March 2023 Restricted funds Tanglble flxed assets Current assets Current liabilities 19,795 364,602 62,257 19,795 370,218 62,257 5,616 Total net assets 322,140 5,616 327,756 21 Related party transactions Two of the member organisations, Devon County .Council and T8ignbridge District Councll, provide substantial funding to enable the charity to Carry out ils charitable objectives as shown in note 3 to the accounts. 22 Operatlng Leases The total future minimum lease payrnenls under non-¢an¢ellable operatin9 leases are as lollows.. 2024 2023 Not later than a year Later than one year and not later than five years 26,914 74,014 23,520 88,200 100,928 111,720 Page 25