Company registration number: 02373461 Chartty registration number: 900012 Teignbridge Citizens Advice Bureaux- (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2025
Teignbridge Citizens Advlce Bureaux Contents Reference and Administratve Details Trustees, Report 2to7 Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of FinancAal Activities 10 Balance Sheet 11 Statement of Cash Flows 12 Notes to the Finanaal Statements 13to26
Teignbridge Cltizens Advlce Bureaux Reference and Administrative Details Prlnclpal Office 3&38 Market Walk Newton Abbot Devon TQ12 2RX Company Registration Number 02373461 Charfty Registration Number 900012 Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Independent Examiner Thompson Jenner LLP Chartered Accountants 1 Colleton Crescent Exeter Devon EX2 4DG Page 1
Teignbridge Citizens Advice Bureaux Trustees, Annual Report The trustees. who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable companyfor the year ended 31 March 2025 which comply with current statutory requirements. the charrty's goveming documents and prepared in accordan with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effecttve 1 January 2015) - (Charities SORP {FRS102)), the Financial Reporting Standard applicabje in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. The Charity was incorporated on 18 April 1989 and is a company limtted 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 (Chair) Mr Martin Bullen ffreasurer) Mr Geoff Williams (Resigned 16 May 2024) Mrs Maureen Winn Oakley Mr Christopher Hole (Resigned 7 November 2024) Mr Gregory Dyke Mrs Angela Richards Mrs Lesley Sheffield Mr Bernard Dagnall (Appointed 16 April 2025) Mr Malcom O'Dea (Appointed 16 April 2025) Objectlves and actlvltles Objects and alms The charity's objects are lo promote any charitable purpose for the public benefit by the advanment of education, the protection and preservation of health and the relief of poverty, sickness and dislress in particular, but without limitation. for the benefft of the community in Teignbridge District and surrounding areas. Aims, Objectives, Strategies and Acljvltles for the Year Teignbridge Citizens Advice Bureaux aims to provide free, confidential, impartial and independent advice and information for the benefit of the local community. It aims to provide the advice peoplg need for the problems they face, ensuring that individuals do not suffer from a lack of knowledge about their righls and responsibilities. The dual aim of the charity is to improve the policies and practices that affect people's lives. Public Benefit The trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activtties undertaken by the charity during the year. The trustees are satisfied that the information provided in the report and accounts meets the public benefit reporting requirements. Page 2
Teignbridge Citizens Advice Bureaux Trustees, Annual Report The principal activity of Teignbridge Citizens Advice Bureaux remained the provision of free, confidential, independent and impartial advice. infomiation and counsel for members of the public. This was provided through the Newton Abbot office and outreaches in Bovey Tracey, Buckfastleigh, Buckland. Dawlish and Teignmouth (see our website for infonmation on our outreaches and how to get information and advice). In addition to general advice, the following pmjects were pmvided: Family Law Clinic: legal consultancy and advice Action for Children: advice for users of Children's CentS in Devon Buckfastleigh Food Bank: advice and support for users of the food bank Cost of Living Project: generalist advice for people affected by the cost of living crisis Debt Advice Project Health and Dlsability.. complex welfare benefits problems Healthwatch: advice and advocacy forpeople using health or social care seNices Refuge Support: 8dvice and support for refvge guests and those hosting them Household Support Fund rr Support: a paid for SeThi offering competitively priced support for individuals community groups and businesses MS Advocacy Project: for anyone who has or is affected by multiple sclen?sis Energy Advice through EAP working with our LCA partners to provide specialist energy 8dvise to help tackle fuel poverty Quids for Kids: benefrts advi sen/ice for families and young people with additional needs Training for Citizens Advice Devon Pension Credit Project raising awareness of potential entitlement to Pension Credit and assist eligible clients to claim ILTA Improving Living Through Advice legal advi on family law issues for litigants in person who a not eligible for legal aid but who cannot afford to pay for legal advice Chai3 Report The overriding outlook for this very important charity shows that we are in a period of considerable change. Overall, we continue to provide an exceptional service for the people of Teignbridge and will conlinue to do so. However, our future depends on our ability to adapt to changes that are certain to come from the result of the economic conditions and the proposed devolution of local govemment including the abolishment of District Councils on whom we have relied for f nancial support The Trustees are committed to change and our regular discussions with other local offices result in strategic planning to ensure we are fit for purpose after devolution and in the best place to attract sustainable funding for our future. This year has proved challenging for us all and our diverse trustee board with widespread skills and experience are well placed to provide superior govemance for the times ahead. Sadly, Geoff Williams and Chris Hole both resigned as Trustees during the year, and Bary Dewhurst retired as clerk to the Board, all of whom gave excellent service to our board and I wish them well in their new endeavours. We are most fortunate to have local councillors as members of our board who have been elected by their councils to represent them. Mythanks to Colin Parker of Newton AbbotTown Council. Jill Graham- Ellis af Dawlish Town Council and Lin Goodman Bradbury from Teignbridge District Council for their continued support. Page 3
Teignbridge Citizens Advice Bureaux Trustees, Annual Report With financial uncertainty comes the necessity to have first class monelary controls and our Treasurer, Martin Bullen, has given regular updates to the board and it is this foresight that leads us to believe we have every chance of a future in the most challenging time we have ever seen. Maureen Oakley leads our Compliance and Assessment subcommittee. ensuring an effective report structure to the Board and redueing time at board meetings. My thanks to her for all her work. Angle Richards continues to raise the profile at local events and Greg Dyke attends many town and parish council meeting5 often retuming with a donatlon to our funds. We are most grateful for bolh their efforts in this valuable community involvement. It is rewarding to see that we are moving ahead with a project to bring our advice seNices to pupils and parents of our local schools. After much deliberation we have agreed to work with Nick Banwell, an associate director of primary education enrichment to handle issues that affect educational standards and indeed family life. My sinre thanks to my colleague Lesley Sheffield whose educational background has made this possible. I would like to thank my Trustee colleagues for another year of dedicated support. Their tireless voluntary work often goes without thanks so I will grve them all my own kind regards for their good efforts throughout the year. The staff and volunteers are, as ever, remarkable in their resilience and hard work giving the best advice to anyone who contacts us in this most dtfficult time. I continue to enjoy working alongside our chief officer, Vincent Willson and I have the utmost respect for his excellent manag8ment of our charity. Finally. my thanks to all of our funders whose financial commitments sustsin our work on behalf of the people of Teignbridge. As ever it is a challenge and a joy to senie you as Chair for another year. Andrew VLfilson Chair. Trustee Board Chief Officer's Report We can all face problems that seem complicated or intimidating. At Citizens Advice Teignbridge, we believe that no one should have to face these problems without good qualty. independent advice. We offer confidential advi online. over the phone, and in person, for free. When we say we're for everyone. we mean tt. People rely on us because we're independent and totally impartial. No one else sees so many people wtth so many different kinds of problems, and that gives us a unique insight into the challenges people are facing today. With the right evidence, we can show big organisations from companies right up to the government - how they can make things better for people. That's why we're here: to give people the knowledge and the confidence they need to find their way forward - whoever they are, and whatever their problem. We are an independent charity and part of the Cttizens Advice network. Most of our team are trained volunteers, and we are supported by local councils, a variety of specialist funders and the general public. We serve a population of 135.000 across Teignbridge. Page 4
Teignbridge Citizens Advice Bureaux Trustees. Annual Report Our statistics for 202425 are remarkably similar to those for 2023-24. This year we advised 6.992 unique clients (6.837 last year>. dealing with 21.954 issues (19,395 last year) and securing income gains for clients of more than £2.6 million (£2.5 million last year), which are mainly spent in the local economy on ordinary daily expenses. The ongoing effects of the cost of living crtsis are still apparenL with around 14,000 issues in 2024-25 being directly related to people struggling to make ends meet. We commend our volunteer and paid advisers for their dedication and commitment to their work as they assisted their clients to manage at a time when more people than ever have risked Iprfing in a situation where their income does not meet their essential expenditure, even after income maximisation. As ever. we are extremely grateful to our funders for their supporL wtthout which our work would not happen. As all third sector organisalions will attest, it remains challenging to secure additional funding. We rely heavily on funding from Devon County Council. Teignbridge District Council and local Town and Parish Councils. whose support enables us to provide our generalist service. Their support is vitsl and helps to provide the stable foundation of our service and we thank them for this. Continuing financial pressures during the year meant that we need8d to prepare for a loss of funding in 202&26, and we have made adjustments to reduce our expenditure and to work ever more closely with our local Citizens Advice partners. The financial challenges viill continue for the foreseeable future and we also need to prepare for Local Govemment Reorganisation and Devolution. Our plan is for closer collaboration with our colleagues in our partner Citizens Advice offices so that. collectively. we are able to adjust to any new Local Government structure. Wincent Willson Chief Officer Risk and uncertainty A risk management strategy was agreed by the Trustee Board as part of the business planning prOss. The Trustees recognise that any major risks to which the charity is exposed need to be reviewed and systems put in place to mitigate those risks. To that end Teignbridg8 Citizens Advice Bureaux is continually monitoring and managing its risk and ensuring action plans are in place to mitigate tts key risks. Included in extemal risks is that of the loss of funding. The effects of this have been minimised by th8 procedures in place, which have resutted in funding being securedfrom a variety of sources. The charity continues to seek to diversfy its funding sources. Intemal risks are minimised by the implantation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodicalty reviewed to ensure that they still meet the needs of the charity. Policy on reserves Teignbridge Citizens Adwce Bureaux is required to ensure that free monies are available in each financial year to meet any reasonably foreseeable contingency. The charity will maintain a projection of income for at least three years ahead and will ensure that this o)ntinues to be derived from as wide a variety of sources aspossible. They will take all necessary steps to ensure that at no time within this period would it 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 rnanaged so as to continue to provide a best value advice service. Based upon the budgeted expenditure for 2025-26 a new reserve target, based upon CA National guidance, will need to be around £135.000 going forward. This TS the bare minimum with no designated Page 5
Teignbridge Citizens Advice Bureaux Trustees, Annual Report redundancy costs or any other cover. It was agreed that a further £25.000 is added to make the new reserve figure £160k. The reason for the additional reserve. apart from the cost of potential redundancies Is that if we are successful in ongoing project bids tt will potentially increase our total expenditure and mean that our minimum reserve would nol meet the minimum requirement. At 31 March 2025, the total reser4es were £256,191 (2024 £331.393) of which represented unrestricted funds of £247.765 (2024 £321.075), including £59,000 as designated funds and free reseNes of £188,765 with £10.119 held as tangible fixed assets. The remaining free reserves held of £178,646 are in excess of the reserves policy to suitably manage expected future deficits in unrestrtcted funds. Restricted funds at year end totslled £8.426 (2024 - £10.318). Plans for future perlods Going concern The trustees have gtven due consideration to the impact of the cost of living crisis and the remaining long-tem impact of Covid-and the effect this may have on ihe 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 signifie2nt doubt upon the charity's ability to continue to operate as a going concem. Structure, governance and managemenl Nature of governing document Teignbridge Citizens Advice Bureaux is a registered charity and a company limited by guarantee. The maximum liabilty of each member is limited to £1. Teignbridge Cittzens Advice Bureaux is governed by its Memorandum and Articles of Association as amended in November 2010. Teignbridge Citizens Advice Bureaux was incorporated as a company limited by guarantee on 18th April 1989. Recrultment, Appointment of Trustees Trustees who are also directors of the company, are elected from the local community. Trustees are. elected at the Annual General Meeting. A separate prOsS agreed by the Trustee Board is followed for the election of the Chair and other officers. No other persons orbodies extemal tothe charity are entitled to appoint persons to the Trustee Board. The board understands the importance of the diversity of its trustees in regards to the Charrty Governance Code and is mindful of this when going through the recruitment process for new trustees. Induction of Trustees Newly appointed Trustees are provided with a comprehensive induction to Teignbridge Citizens Advice Bureaux through the provision of training courses and mentoring by established trustees. Related Partles Teignbridge Citizens Advice Bureaux is a member of Citizens Advice. the operating name of the National Associalion of Citizens Advice Bureaux. which provides a framework for standards of advice and casework management as well as monitoring progress against these standards. Operating policies are independently determined by the Trustee Board of Teignbridge Citizens Advice Bureaux in order to fulfil its charitable objects and comply with the national membership requirements. Organisational structure Teignbridge Citizens Advice Bureaux is governed by its Trustee Board which is responsible for setting the strategic direction of the organisation and the policy of Ihe charity. The Trustees carry the ultimale responsibility for the conduct of Teignbridge Citizens Advice Bureaux and for ensuring that the charity satisfies its legal and contractual obligations. Trustees meet every six weeks and delegate the day-to day operation of the organisation to senior management. The Trustee Board is independent from management. Page 6
Teignbridge Citizens Advice Bureaux Trustees, Annual Report Financial instruments Objectives and policies The charity's activtties expose it to a number of financial risks including credit risk and liquidity risk. Cash flow risk Due to the nature of the charitable activities and assets held. risk in relation to cash flow is considered to be minimal, with funds being held in instant access UK bank accounts and our unrestricted reseNes being held in free cash not tied up in ed assets. Credit risk The charty's principal financial assets are bank balances. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no signifjcant concentration of credit risk. Llquldlty rlsk In order to maintain liquidty to ensure that sufficient funds are available for ongoing operations and future developments. the charity holds surplus funds in instant access bank accounts. The annual report was approved by the trustees of the charity on .................... and signed on its behalf by Andrew Wilson (Chair) Trustee Page 7
Teignbridge Citizens Advice Bureaux Statement of Trustees, Responsibilities The trustees (who are also the directors of Teignbrtdge Citizens Advice Bureaux for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with the Untted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. Company law requires the trustees to prepare financial statements 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 reSoUrS and application of resources. including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: select suitable accounling policies and apply them consistently: observe the methods and principles in the Chartties SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Stsndards hav8 been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responslble for keeping adequate accounting records that are sufficient to show and explain the charitable CoMpanS transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of frdud and other irregulartties. Approved by the trustees of the tharity on ... ......... ..... and signed on its behalf by.. Martin Bullen (Treasurer) Trustee Page 8
Teignbridge Citizens Advice Bureaux Independent Examinerfs Report to the Trustees I report to the charity truslees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 10 to 26. Respectlve responslbilitles of trustees and examlner As the charity's trustees of Teignbridge Citizens Adwce Bureaux (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Acr). Having satisfied myself that the accounts of Teignbridge Citizens Advice Bureaux are not required to be audited under Part 16 of the 2006 Act and are eligible for independentexamination. I report in respect of my examination of your charity's accounts as carrted out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carying out my examination I have followed the directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statoment Since Teignbridge Citizens Advice Bureaux's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Assoaation of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of Teignbridge Cttizens Advice Bureaux as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those recor(Is: or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters in connection with the examination to which attention should be dravm in this report in order to enable a proper understanding of the accounts to be reached. David Tucker FCCA The Association of Chartered Certified Accounlants Thompson Jenner LLP 1 CoSleton CreSnt Exeter Devon EX2 4DG Date:............................ Page 9
Teignbridge Citizens Advice Bureaux (Registration Number: 02373461) Balance Sheet as at 31 March 2025 Unrestricted funds Restrlcted funds Total 2025 Note Income and Endowments from: Charitable activities. donations & legacies Investment income Other income 167,530 437,283 604,813 8.544 7.778 7,778 Total income 183,852 437.283 621,135 Expenditure on: Charitable activities 257.162 439.175 696,337 Total expenditure 257.162 439,175 696,337 Net income Transfers between funds (73.310) {1.892) {75.202) Net movement in funds Reconciliation of funds 73,310 1,892 75,202 Total funds brought forward Total funds carried forward 321.075 10.318 331.393 19 247.765 8,426 256,191 Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from.. Charitable activities. donations & legacies Investment income Other income 248,244 7,803 6.758 349,180 597.424 7.803 6,758 Total income 262,805 349,180 611,985 Expenditure on: Charitable activities 229,198 379,150 608,348 Total expenditure 229,198 379.150 608.348 Net income Transfers between funds 33.607 34.672 (29,970) 34.672 3.637 Net movement in funds Recon¢ilAation of funds 1,065 4,702 3,637 Total funds brought forward Total funds carried forward 322.140 5.616 327.756 19 321.075 10,318 331,393 The notes of pages 13 to 26 fomi an integral part of these financial statements Page 10
Teignbridge Citizens Advice Bureaux (Registration Number: 02373461) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 12 10,119 14,925 Current assets Debtors Investments Cash at bank and in hand 13 26.998 85,000 248,251 360,249 21.875 85,000 328,739 435,614 14 15 Creditors: Amounts falling due within one year 16 114.177 119,146 Net current assets 246.072 316,468 Net assets 20 256.191 331393 Funds of the charity: Restrlcted 8,426 10,318 Unrestrlcted Income funds Unrestricted funds Designated fLJnds 188,765 59,000 240,183 80,892 Total funds 20 256,191 331.393 For the financial year ending 31 March 2025 the chaiity was enlitled to exemption from audit under section 477 of the Comp8nies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the chaiity to obtain an audit of its accounts for the year in question in accordance wrth section 476: and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance wrth the provisions applicable to companies subject to the small companies, regime. The fi anci I statements on pages 13 to 26 were approved by the trustees and authorised for issue on nd signed on their behalf by". Martin Bullen Trustee The notes of pages 13 to 26 fomi an integral part of these financial statements Page11
Teignbridge Citizens Advlce Bureaux Statement of Cash Flows for the Year Ended 31 March 2025 2025 2024 Note Cash flows from operatlng activltles Net cash incomel(expenditure) {75.202) 3,637 Adjustments to cash flows from nonwcash items Depreciation Accrued expenses 12 4.806 (4.339) 4,870 {2,577} Worklng capltal adjustments Debtors Creditors (Decrease)fincrease in defeed income 13 16 (5,123) (7,313) 6.683 (10,170) 12,866) 62.332 17 Net cash flows from operating acttvrties (80,488) 55,226 Cash flows from investing activities Purchase of tangible fixed assets 12 Net (de¢rease)lincrease in cash and cash equivalents Cash and cash equivalents at 1 April {80,488) 55,226 413,739 358.513 Cash and cash equivalents at 31 March 333,251 413.739 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 13 to 26 form an integral part of these financial statements. Page 12
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charlty status The charity is incorporated in England and Wales and is a charity limited by guarantee and consequently does not have share capitsl. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: 3&38 Market Walk Newton Abbot Devon TQ12 2RX 2 Accountlng policies Summary of significant accounting pollcles and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. Basis of preparation Teignbridge Citizens Advice Bureaux meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated In the relevant accounting policy notes. The financial statements are prepared in sterling. which is the functional CuencY of the charity. Going concern The trustees consider that there are no material uncertainties about the charitys abilty to continue as a going concem nor any Significant areas of uncertainty that affect the carying value of assets held by the charity. Income and endowments Grants recelvable Grants are recognised when the charity has an entiuement to the funds and any conditions linked to the grants have been met. Where perfomiance conditions are attached to the grant and are yet to be met, the income is reGognised as a liability and included on the balan sheet as deferred income to be released. Deferred income Deferred income represents amounts reiVed for future periods and is released to incoming resources in the period for which. it has been received. Such income is onty deferred when: The donor specifies that the grant or donation must only be used in future accounting periods. or - The donor has imposed conditions which must be met before the charity has unconditional entillement. Page 13
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff Costs allocated on the basis of time 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. Charltable actlvities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated direcuy to such activities and those costs of an indirect nature necessary to support them. Grant provisions Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Support costs Support costs include central functions and have been allocated to activity st categories on a basis consistent with the use of resources. Governance costs These include the costs attributable to the charity's Complian with conslttutional and statutory requirements, including audit. strategic management and trustees, meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meets the definition of a charitsble company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or Capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes Tangible fixed assets Individual fixed assets costing £750.00 or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. Depreciation and amortisation Depreciation is provided on tangible ftxed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Computer equipment Office equipment Leasehold improvements Depreciation method and rate 33.33010 on straight line basis 20 % reducing balan Straight line basis over the remaining lrfetime of the lease Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Page 14
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 Trade debtors are recognised inttially at the transactron price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original teryns of the reoivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignrficant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabiltties if the charity does not have an unconditional right, at the erid of the reporting period, to defer settlement of the credttor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after Ihe reporting date. they are presented as non-current liabilities. Trade creditors are recognised inilially al the transaction price and subsequently measured at amortised cost using the effecttve inter8St method. Fund structure Unrestricted income funds are general funds that are available for use at the trustees, discretion in fvrtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes. the use of which is restrlcted to that area or purpose. Penslons and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even rf the fund does not hold sufficient assets to pay all employees the benefrts relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for seNice. the excess is r8cognised as a prepayment. Financial instruments Classification, recognition and measurement The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Page 15
Teignbridge Citizens Advice Bureaux Notes to the Flnancial Statements for the Year Ended 31 March 2025 3 Income from charitable activ5ties Unrestricted funds General Restrlcted funds Total funds Donatlons CATCH Other donations 8,000 5,428 8.000 5,428 Grants Devon County Council Core Grant Teignbridge District Council Action for Children Healthwatch Quids4Kids Fairer Charging Empower MAPS Access to Justice Multiple Sclerosis Advocacy Household Support Fund (Fugl) Outreach Refuge Support (prev Homes for Ukrain8} Trussell Trust Independent Age Community Organisations Cost of Living Fund Growing Communities Fund (DCC) National CA- Pot 1 National CA- Pot 2 (Increasing Capacity) Energy Advice Project (EAP) Improving Lives Through Advice (ILTA) CAB Devon Children's Project Pension Credit Project 75,022 52,130 75.022 52.130 34.000 16.168 61,400 34.000 16.168 61,400 55,860 55,860 8.750 735 8,750 735 26.950 24.450 16,055 26,950 24.450 16.055 83,000 15,710 93,316 25,000 2,839 83.000 15.710 93,316 25,000 2,839 Total for 2025 167,530 437,283 604.813 Total for 2024 248.244 349,180 597.424 Page 16
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 4 Income from investments Unrestricted funds General Restricted funds Total funds Bank interest receivable 8,544 Total for 2025 8,544 Total for 2024 7,803 7,803 5 Other income Unrestricted funds General Restricted funds Total funds Other income (training, IT support) 7.778 7,778 Total for 2025 7.778 7.778 Total for 2024 6.758 6,758 6 Expendituro on ¢haritabl• activities by fund typo Unrestricted funds General Restricted funds Total funds Charitable activities Support Costs 167,494 89,668 393,789 45,386 561,283 135,054 Total for 2025 257,162 439,175 696,337 Total for 2024 229.198 379.150 608.348 Included in the expenditure anaSed above, there are governan costs of £11,652 {2024 £7,630) which relate directty to charttable activities. See note 7 for further details. Page 17
Teignbridge Citizens Advice Bureaux Notes to the Flnancial Statements for the Year Ended 31 March 2025 7 Analysis of support and governance costs 2025 2024 Staff costs Premises Communications and IT General Office Finance Costs Govemance costs Depreciation, amortisation and other similar costs Sundry expenses Reference materrals Advertising and publicity 11.528 61.670 38.432 4.147 91 11.652 13,535 52,869 13,952 8,237 73 7,630 4.806 246 2.069 413 4,870 335 2,688 135,054 106,457 Governance costs Total funds Independent examiner fees Trustees remuneration and expenses Legal & Consultancy fees (including payroll services) 2,760 909 7,983 Total for 2025 Total for 2024 7,630 8 Trustees remuneratlon and expenses Trustee expenses amounted to £909 during the year in respect of travel and subsistence {2024- £957). No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No trustees have received any other benefits from the charity during the year. 9 Staff costs The aggregate payroll costs were as follows". 2025 2024 Staff costs during the year were: Wages and salaries Social security costs Pension costs 453.561 29,689 15.343 420,893 25,867 14,867 498,593 461,627 Page 18
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 The average headcount of employees during the yearwas 24 (2024- 22). The monthlyaverage number of persons {including senior management team) employed by the charity during the year expressed as full-time equtvalents was as follows: 2025 No 2024 No Number of staff (FTE equivalent) 15 12 18 (2024 - 20) of the above employees participated in the Defined Contribution Pension Schemes. A further 4 employees had contributions made to private pension schemes (2024 - 4). Contributions to the employee pension schemes for the yeaT totalled £15,343 (2024 - £14,867). No employee received emoluments of more than £60.000 during the year. 10 Independent examiners remuneration 2025 2024 Examination of the financial statements Other financial services 2,760 4,377 2,560 7,137 2,560 11 Taxatlon The charity is a registered charity and is therefore exempt from taxation. Page 19
Teignbridge Citizens Advice Bureaux Notes to the Financial Ststements for the Year Ended 31 March 2025 12 Tangible fixed assets Leasehold Office Improvements Equipment Computer Equipment Total Cost At 1 April 2024 Additions Disposals 106.205 26,592 36,874 169,671 36,874 36,874 At 31 March 2025 106,205 26.592 132,797 Depreciation At 1 April 2024 Charge for the year Eliminated on disposal 92,542 4,554 25,330 252 36,874 154,746 4,806 36,874 36.874 At 31 March 2025 97,096 25.582 122,678 Net book value At 31 March 2025 9,109 1.010 10,119 At 31 March 2024 13,663 1.262 14,925 13 Debtors 2025 2024 Trade Debtors Prepayments 18,197 8,801 13,670 8,205 26,998 21,875 14 Investments 2025 2024 Short-lerm investments 85.000 85.000 The investments are held in separate red-tern notice and fixed-tenn maturity bank accounts. 15 Cash and cash equtvalents 2025 2024 Cash al bank Short term depostts 248.251 85,000 328,739 85,000 333,251 413.739 Page 20
Teignbridge Citizens Advice Bureaux Notes to the Financial Ststements for the Year Ended 31 March 2025 16 Credltors: amounts falllng due within one year 2025 2024 Trade Gredtiors Accruals Deferred income Social security and other taxes Pension credttor Other creditors 2,904 9.479 9,185 95.457 102,140 2.521 1,766 3,287 1,738 114,177 119,146 17 Deferred income 2025 2024 Deferred income al 1 April 2024 ReSoUrS deferred in the period Amounts released from previous periods 95.457 102,140 95.457 33,125 95,457 33,125 Deferred income at year end 102.140 95.457 18 Penslon and other schemes The charity operates a defined contribution pension scheme to fulfil its auto-enrolment obligations. In addition. the charity has made arrangements with four employees to pay into other private pension schemes at the same percentage rate as the defined contribution scheme. The pension cost charge for Ihe year represents contributions payable by the charity to the schemes and amounted to £15,343 {2024 - £14.867). Page 21
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 19 Movement of Funds Balance at 31 March 2025 Balance at Incoming Resources 1 April 2024 resources expended Trnnsfers Unrestricted funds General unrestricted (incl outreach) Designated (Innovation) Designated (HVAC depreciation) 240,183 80,000 892 183.852 (235,270) (21,000) 892 188,765 59,000 321,075 183.852 257,162 247,765 Restricted funds Action for Children Healthwatch Quids4Kids Debt Project (MAPS) Multiple Sclerosis Advocacy Household Support Fund (Fuel) Refuge Support (Homes for Ukraine) Trussell Trust National CA - Pot 2 Energy Advice Project (EAP) Improving Lives Through Advi CAB Devon Children's Servi$ TDC Pension Credit project 1,257 34,000 16,168 61.400 55.860 8,750 735 24,450 16.055 83,000 15,710 93.316 25,000 2,839 (35,257) (16,168) (62,027) (55,860) (8,750) (735) (29,362) (16,055) (83,000) (15.710) (93,316) (20,096) 2,839 627 8,434 3,522 4.904 Total restricted funds 10,318 437,283 439,175 8.426 Total funds 331.393 621,135 696,337 256.191 Page 22
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 19 Movement of Funds Balancè at 31 March 2024 Balance at Incoming Resources 1 Aprll 2023 resources expended Transfers Unrestricted funds General unrestricted (incl outreach) Designated (Innovation) Designated (HVAC depreciation) Community Organisations Cost of Living Fund 236.694 80.000 5,446 189.857 {151,696) (34,672) 240,183 80,000 892 (4,554) 72.948 72.948 322,140 262,805 229,198 34,672 321,075 Restrlcted funds Action for Children Healthwatch Quids4Kids Fairer Charging Empower Debt Project (MAPS) Access to Justice Multiple Sclerosis Advocacy Household Support Fund (Fuel) Homes for Ukraine Trussell Trust Independent Age National CA - Pot 1 Growing Communities Fund (DCC) National CA - Pot 2 Energy Advice Project (EAP) Improving Lives Through Advice 1.990 18.600 15,732 48,184 6.900 1.256 57.354 32.058 14,000 3.354 25,418 15,980 11,756 15,000 6.000 58.625 10.795 8.168 (19,333) (15.732) (49.082) (11,095) {3,357) (57,354) (62.535) (14,000) {3,354) (16,984) (15.980) (11,756) (15,000) {6,000) (58.625) (10.795) 8.168 1.257 1.525 627 4,195 2,101 30,477 8,434 Total restrl¢ted funds 5.616 349,180 379.150 34,672 10,318 Total funds 327.756 611.985 608,348 331.393 Page 23
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 Restrlcted Funds Action for Children - 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 parents understand how getting a job or changing the hours they work would affect their income and benefits. Healthwatch Devon - a grant from Citizens Advice Devon to employ a Healthwatch Champion to assist clients in need. Quids 4 Klds - a contractual arrangement with Devon County Council through Citizens Advice Devon to provide an income maximisation service for families with disabled children. Fairer charging (Charging for Care) - a grant received lo provide benefits advice. Empower Replaced Heat Well for Less providing advi and information on fuel poverty. It encompasses advice and assistance on bills and meter issues. fvel debt, minimising costs (e.g., tariffs, discounts. grants). switching suppliers and energy efficiency. Debt Project (MAPS) - This project takes referrals from the core service for clients needing assislance with managing problem debt and it enables dients to make informed decisions on options for longer term solutions Multiple Sclerosis Advocacy - enables Ihe charity to employer a project worker to delivery general advice to clients and families affected by MS. Household Support Fund (Fuel) - Separate HSF project in partnership with other LCAS specrfically for the distribution of fuel vouchers for Devon clients on prepayment meters. Refuge Support (previously Homes for Ukraine)-funding provided Teignbridge CVS to provide help and support to refijges resettled in the Teignbridge area. The scope of this funding has been expanded from Ukrainian guests to include all support for all those wsth refuge status. Trussell Trust- funding provided by the Trussell Trust to provide advisory services and support to users of the foodbank in Buckfastleigh. Independent Age funding provided by Independent Age to work in partnership with the Caring charities {Ashburton & Buckfast]eigh Caring. Kingsteignton & Newton Abbot Caring and Teignmouth, Dawlish & Chudleigh Caring) to provide advisory services. support and home visits to clients over the ages of 65. Growing Communities Fund This fund allowed us to provide 5 days of training to local volunlary groups and social prescribing link workers in Teignbridge to enhance their ability to SUPPQrt the advice needs of some of Ihe most marginalised residents in the district. National CA- Pot 1 This grant from national Citizens Advice enabled us to employ a member staff to further increase our capacity to meet the rising demand for advice connected with the cost of living Grisis at a time when tt was particularly difficuli to recruit volunteers. National CA- Pot 2 This grant from National Citizens Advice enables us to increase our Adviceline capacity by funding 2 E advisers. one based at South hams and one at Teignbridge. Energy Advice Project (EAP) This projecl funds a specialist energy adviser to help tackle fuel poverty. Page 24
Telgnbridge Citizens Advlce Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 Improving Lives Through Advice (ILTA) This grant from the Access to Justice Foundation funds a Legal Services Manager and Legal Adviser to provlde 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. CAB Devon Chlldren's SeThices Additional funding to expand Children's Services auoss Devon in light of inueased demand for these seNIs. TDC Pension Credit Project The purpose of the Pension Credlt Take-up Project was to raise awareness of potential entitlement to Pension Credit and assist eligible cllents to claim, thereby also ensuring entitlement to the Winter Fuel Payment. Access to Justlce - a project which takes referrals from lo&ql Citizens Advice offices across Devon and provides legal advi to clients in areas of social welfare law, including in particular, family and ernployment law. It Is designed for clients who would otherwise be left without access to legal advice. Page 25
Teignbridge Citizens Advice Bureaux Notes to the Financial Statements for the Year Ended 31 March 2025 20 Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2025 Reslrlcted funds Tangible fixed assets Current assets Current liabilities 10,119 351.823 114.177 10,119 360.249 114.177 8.426 Total net assets 247,765 8,426 256,191 Unrestricted fvnds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 14,925 425,296 119.146 14,925 435,614 119,146 10,318 Total net assets 321.075 10,318 331,393 21 Related party transactions Two of the member organisations. Devon County Council and Teignbridge District Council, provide substantial funding to enable the charity to cary out its charitable objectives as shown in note 3 to the accounts. 22 Operating Leases The total future minimum lease payments under non-cancellable operating leases are as follows:. 2025 2024 Not later than a year Later than one year and not later than fNe years 26.914 47,100 26,914 74,014 74,014 100.928 Page 26
Teignbridge Citlzens Advice Bureaux Management Information for the Year Ended 31 March 2025 The following pages do not fomi part of the financial statements. Page 27
Teignbridge Citizens Advice Bureaux Detailed Statement of Financial Activities for the Year Ended 31 March 2025 Income from charitable actlvltles 2025 2024 Donations & grants CATCH other donations Devon County Council Core Grant Teignbridge District Council Action for Children Healthwatch Quids4Kids Fairer Charging Empower MAPS Access to Justice Multiple Sclèrosis Advocacy Household Support Fund (Fuel) Outreach Refuge Support (previously Homes for Ukraine) Trussell Trust Independent Age Community Organisations Cost of Living Fund Growing Communtties Fund National CA- Pot 1 National CA- Pot 2 Energy Advice Project (EAP) Improving Lives Through Advice (ILTA) CAB Devon Children's Project TDC Pension Credit Project 8,000 5.428 75.022 52,130 34.000 16,168 61,400 8.000 8,484 77,307 52,130 18,600 15,732 48,184 6,900 1,256 57,354 32.058 14.000 3.354 29.375 25,418 15.980 11.756 72,948 6,000 15,000 58,625 10,795 8,168 55.860 8.750 735 26.950 24,450 16,055 83,000 15,710 93.316 25,000 2,839 604,813 597.424 Investment Income Bank interest 8.544 7,803 Other income Other Income (training, IT support) 7.778 6,758 Total Income 621.135 611.985 Page 28
Teignbridge Citizens Advlce Bureaux Detailed Statement of Financial Activities for the Year Ended 31 March 2025 Expenditure on charitable actlvities 2025 2024 Activitles undertaken directly Wages and salaries Employers NIC Pension costs other LCA adviser fees Travel costs Other interest payable and similar charges Other direct costs Partner Payments 453.561 29.689 15.343 420,893 25,867 14.867 7,185 5,794 5.472 4,845 29,625 501,891 561.283 Support Costs Operating leases Equipment rental Utility expenses Repairs & maintenance Insurance Sundry expenses Finance Administration Professional fees Independent Examiner's fee Telephone Printing, postsge and stationery Depreciation staff and training costs Information and books Photocopier and computer Advertising and publicity Trustees expenses Bank charges 25,519 5,745 6.707 25.019 4,425 247 6.771 7,983 2,760 5,118 4.147 4.806 4,756 2.069 27,569 413 909 91 29,398 4,957 6,860 14,340 3,272 335 10,569 4,300 2,560 5.305 8.237 4,870 2,966 2,688 3,689 1,268 770 73 135,054 106,457 Total expendlture 696,337 608,348 Net Income 75,202 3,637 Page 29