Registration number N1033560 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Company limited by guarantee Annual, report and financial statements for the year ended 31 March 2024 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Reference and Administrative Details Trustees Louise Togneri, Chal￿ersOn Leanne BTown Colin Foote Valerie Goodchild Robin Mcclelland, Vice-chairperson Anne McKenna, Treasurer Aaron Mulholland Vivienne Beck Gavin North John Corey Peter Gamble Susan McKee Secretary Leanne Brown Company number N1033560 Chartty number 101425 Registered officc Hamtlton Road Community Hub 39A Hamllton Road Bangor Co Down BT20 4LF Auditors McCr¢ery Turkington Stockn]an LTD l Lanyon Quay Belfast BTI 3LG Bankers Danske Bank 77 Main Street Bangor BT20 SAF Solicitors Mccoubrey Hinds 61 Main Street Bangor Co Down BT20 SAF COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Contents Page Trustees" report Auditors, report Statement of Financial Activities Balanc¢ sheet 10 Cash flow statement li Notes to the financial statements 12-19 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 The Trustees present their report with the audited financial statements for the year ended 31 March 2024. The accounts have been prepared Én accordance with the accounting policies set out in note I to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Rccommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tlie UK and Republic of Ireland published in October 2019" Management Structure Community Advice Ards and North Down is an independent local charity, run by local peoplc for the benefit of local pcople. CAAND was fomierly Citizens Advice Ards and North Down and part of the UK wide Citizens Advice service. The Citizens Advice brand was withdrawn from Northern Ireland in 2018 iequiring implementation of the name change to Community Advice Ards and North Down (CAAND) with effect from January 2019. CAAND is a member of AdviceNI the indepcndent advic¢ network. CAAND subscrib¢s fully to AdviceNI ¢mbeTship criteria which include the requirements to be independcnt of central oi local government control, non-profit making, providing advice free and accountable to the community. CAAND is governed by its board of trustecs. which is drnwn from the local community. The members are harity trustees and company directors who are colkectively responsible for the governance, including setting an overall vision and making strategic decisions. Thc board ensures there is effective planning, financial management and control plus compliance with charity law/company law and other relevant legislation. In practice, day-to-day management is delegated to a manager who is also responsible for quality and service delivery.The board holds staff accountable while carrying ultimate responsibility for the actÈvities of the organisation. Trustee Board Trustees are elected at the Annual General Mecting. Officers are elected by the trustees at the f￿st meeting after the AGM. The board nornially meets monthly throughout each year. The board may delegate any of their powers and duties to a sub-committee comprising at least three Board membcrs" there are three sub-committees within the board dealing with Finance, Planning and Staffing matters. The Chair of the board is ex officio on all committees and the managers act as facilitators. CAAND aims to ensure the members of the trustec board ieflect the local community and trustees are provided with appropriate training as required. Risk Assessment CAAND undertakes timely risk assessments and the results are used to inforn] financial and business planning for contingency Page I COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Purpose and Aims l. To ensure that individuals do not suffer through: lack of knowledge of their Tights and responsibilities- lack of knowledge of service available to them. an inability to express their needs effectively. 2. To exercise a responsible influence on the development of social policies and services both locally and nationally. CAAND aims to achieve its purpose by: providing free, confidcntial, independent advice and assistance for the people in the community, regaTdless of religion, race, sex, disability or sexuality; Contributing to the development of social policy from the experience of working with clients. managing operations within available funding and in compliance with regulatory, statutory and AdviceNI membershÉp rcquirements ' developing its staff and systems to respond to business needs. arranging appropriat¢ trainlng for volunteers, staff and trustees so as to ensure the delivery of quality services to clients- making people aware of the work of CAAND. working effectively with its main funder, Ards and North Down Borough Council, to maintain the efficiency, effectiveness and economy of its service delkvery" networklng within AdviccNI and simÉlar organisations in Northern Ireland. Services provided CAAND'S core contract is with Ards and North Down Borough Council and provides a general advtce service through an appointment and drop-in service, plus telephone advice from offices in Bangor, Newtownards and Holywood. Weekly advice sessions are also available at 10 outreach advicc cllnics. to give citizens throughout Ihc Borough Council's geographic area access to CAAND'S scrvices. Other services available include Specialkst Dcbt Advice (funded by Ards & North Down Borough Council core funding) and Tribunal representation (social security). Additional Advice Projects CAAND provides additional advicc services under a number of other funded projects including Welfare Rcfonn, Debt Action, Advocacy Representation [￿nded by The National Lottery) and Macmillan Cancer Care advice services based in the Ulster Hospital, Dundonald. In the 2023124 year, across all projects, CAAND provided advic¢, help and support to over l 0,000 people, dealing with almost 30,000 issues. The total income generated for our clients was over £4.1 million. Page 2 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Public BenefAt Statement Thc trustees confirn] that they have complied with their duty as prescribed by section 4 of the Charit&¢s Act (Northern-Ireland) 2008 to have due regard to the Charity Commission for Northem Ireland public benefit guidance. CAAND records client statistics relating to disability and ethnicity in order to assist identification of under use by client groups. Posters stating the service's commitment to equality, diversity and non-discrimination are displayed in public areas in the CAAND offices. Promotional material is prepa￿d and distributed as widely as possible. CAAND has on display as many leaflets in many languages relating to benefits, services and employment. CAAND has an up to date child protection policy. Copies of CAAND'S Strategic Plan and Annual Operational Plan were available on request. Social Policy Throughout the 2023124 year, actions continued to achieve CAAND'S second puryose of exercising a responsible influencc on the development of social policies and services to improve the lives of people in the community. Drawing on the evidence of advisers, work in providing advice and helping people, CAAND prcparcd quarterly Social Policy reports to assist in raising awareness of evidencc of shortcomings Èn laws, policies and public services. These reports were shared with MPS, MLAS and Councillors and provided to the regiondl organisation Advice NI to support lobbying on social policy issues. Financial Review CAAND'S funding contract with the Ards and North Down Borough Council provided core funding for the thrcc-year period from l April 2021 plus options for the annual renewal of the contract to March 2026. As wcll as this core fundRng, other sources of income for the 2023124year included: _ Funding from Macmillan Care for the advice project based in the Ulster Hospital Funding from the Departmcnt of CommunitÈes for employment of advisers to meet advice demands and assÈst with appeals arising from Welfare Refonn Funding from the NationaK Lottery for Advisors to r¢pr¢sent clients at tribunal hearings Funding provided via Advice NI for the Debt Action project Funding provided by The Hcadley Trust to allow for an advisor to specifically adviser issues impacting on older peopl¢ -Funding provided by the Trussell Trust to facilitatc an advisor being present at Bangor Foodbank Thc combination of the abovc funding has enabled CAAND to finish the 2023124 year with a SUTplus of income over expenditure amounting to £54,622. Reserves Policy The trustees reviewed and reafyinned the policy to achieve reserves in unrestricted funds equivalent to up to six months of CAAND'S annual operating expenditure. Going Concern The trustees have a reasonable expectation that the organisation has adequate resources to continu¢ in operational existence for the foreseeable future. In arriving at this conclusion, the year to date budgets for 2024125 and current cash position were reviewed. For this reason ihey continue to adopt the going concern basis in preparing the financial statements. Page 3 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Trustees, Report for the year ended 31 March 2024 Statement of Trustees, Responsibilities The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial ststements for each fknancial 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 the incoming resources and applÉcation of resources, including the income and expenditure. of the charitable cotnpany for that period. In preparing these financial statements, the trustees are requircd to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP. make judgments and cstimatcs that are rcasonable and prudent; state whcthcr applicable UK Accounting Standards have been followed, subject to any material dcpartures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriat¢ to presume that the company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the fin(￿ClaI position of the charitable company and enable them to ¢nsure that the financial statements comply with the CompanÈ¢s Act 2006. They are also r¢sponsible for safeguarding the assets of th¢ charitable company and hence for taking rcasonable steps for the prevention and detection of fraud and other irregularities. Auditors The auditors are d¢¢m¢d to be reappointed in accordance with Section 487(2) of the Companies Act 2006. In so far as the trustees are aware.. there is no relevant audit information of which the charitable company's auditor is unawarc" and the trustees have taken all steps that they ought to have taken to make themselves aware of any ￿levant audit infomiation and to establish that the auditor is aware of that inforn]ation. This report was approved by the Board on 15th October 2024 and signed on its behalf by Louise Togneri Trustee Page 4 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Independent auditors, report to the members of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Opinion We have audited the financial statements of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD for the year ended 3 l March 2024 whkch comprise the Statement of Financial Activities the Balance Sheet, the Cash Flow Statement and notes to the financial stalements, including significant accounting policies.The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Acceptsd Accounting Practice}. In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the Year then ended. have been properly prepared in accordance wlth United Kingdom Generally Accepted Accounting Practice; have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with fntemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audktor's responsibilitKes for th¢ audit of the financial statements scctkon of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requir¢mcnts. We believe that the audit cvidence we have obtained is sufficient and appropriat¢ to provide a basis for our opillion. Conclusions relating to going concern In auditing the financial statements, we have conclud¢d that the trustees, use of the going coThc¢m basis of accounting in the preparation of the finanoial statements is appropriatc. Bascd on the work we have performed, we have not identified any material uncertainties relating to ev¢nts or conditions that, individually or collectiveEy. may cast significant doubt on the charitable company's ability to ontinue as a goRng concern for a period of at least twelve months from whcn the financial statements are authorised for issue. How¢v¢r, as we cannot predict all future events or conditions and as subsequent events may result in outcom¢s that are inconsistent with judgemcnts that wer¢ reasonable at the time they wcre made, the absence of reference to a materiak uncertainty in this auditor's report is not a guarantec that the Company will continue in operation. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information Th¢ other inforniation compiises the inforniatkon included in tbe annual report, other than the accounts and our auditors report thereon. The trustees are responsible for the other information. Our opinion on the accounts does not cover the other infomiation and we do not express any form of assurance conclusion theieon. In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other infonnatkon is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwis¢ appears to be materially misstated. If we identAfy such material inconsistencies or apparent material misstatements, we are required to detem]ine whether there is a material misstatement in the accounts or a material misstatement of the other inforn]ation. If, based on th¢ work we have perforn]ed, we conclude that there is a material misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Page 5 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Independent auditors, report to the members of COMMUNITY ADVICE ARDS AND NORTH DOWN LTD continued Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit: the inforn]ation given in the trustees, Rcport, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements. and the directors, report included wtthin the trustees, report has bcen prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. the information given in the fillancial statcments is inconsistent in any material respect with the twstces, report; or sufficient accounting records have not been kept. or the financial statemcnls are not in agrecmcnt with the accounting records. or we have not rec¢ived all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of trustecs, Rcsponsibilities, the trustees, who are also the Directors of the charity for the pU￿oSe of company law, ar¢ responsibl¢ for the prepaiation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the committ¢¢ d¢tern)ine is necessary to ¢nable the preparation of accounts that are free from material misstatement, whether due to fraud or error. ID preparing the accounts, the truste¢s are responsible for asscssing the charity's ability to conttnue as a going oncern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease opcrations, or hav¢ no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Oui objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mÉsstatement. whether due to fraud or error, and to issue an auditor's report that includ¢s our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatcment when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Page 6 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Extent to which the audit Ivas capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We dcsign procedures in line with our responsibilities, outlined above, to detect material inisstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below-. We identified the areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements and risks of material misstatement due to fraud, using our understanding of the entity's industry, regulatory enviror)ment and other external factors and inquiry with the Trustees. In addition, our risk assessment procedures included.. inquiring with the Trustees as to the charities policies and procedures regarding Compliance with laws and regulations and prevention and detection of fraud- inquiring whether the Trustees have knowledge of any actual or suspected non-compliance wilh laws or regulations or alleged fraud, inspecting the Charities regulatory and legal cotrcspondencc" and reading Board minutes. We discussed identified laws and regulations, fraud risk factors and the need to remain alert among the audit team. The charity is subject to laws and regulations that directly aff¢ot the financial statements charity and fAnan¢ial reporting kegislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial staten]ent items, Including assessing thc financial statement disclosures and agreeing theEn to supporting documentation when necessary. The charity is subject to many other laws and regulations wherc the consequences of non-compliance could have a material effect on amounts QT disclosures in the financial statements, for instance through the imposition of fines or kitigatÉon. We identified the following areas as those most likely to have such an effect= health and safety, anti-bribery, employment law, environmental law. Auditing standards limit the required audit procedures to Identify non-compliancc with these non-dii¢ct laws and regulations to inquiry of the Trustees and inspection of regulatory and legal correspondence, if any. These Ikmited procedures did not identify actual or suspected non- compliance. We assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. As required by auditing standards, wc perfornied procedures to address the risk of management override of controls. On this audit we do not b¢li¢v¢ theT¢ is a fraud risk related to revenue recognition. We did not idcntify any additional fraud risks. In response to risk of fraud, we also performed procedures including- identifying journal entries to test based on rksk criteria and comparing the identified entries to supporting documentation; evaluating the business purpose of significant unusual transactions. assessing significant accounting estimates for bias- and assesslng the disclosures in the financial statements. Owing to the inherent Kimitations of an audit, there is an unavoidable risk that we may not have detected som¢ material misstatements in the fmancial statements, even though we hav¢ properly planned and perfornied our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations (irregularities) is from the events and transactions reflected in the fTnancial statements, the less likely the inherently limited procedures required by auditing standards would identify it. Page 7 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD In addilion, as with any audit, there remains a higher risk of non-detection of irregularities, as ihesc may involve collusion, forgery, intentional omissions, misreprcsentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non- Compliance with all laws and regulations. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at.. http.'/lww.frc.org.uk/auditors responsibilities. This description fornis pail of our auditor's report. The purpose of our audit work and to whom Ive owe our responsibilities This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertakcn so that we might state to the charitable company's members those matters we are required to state to tem in an auditors, report and for no other pury)ose. To the fvllest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have fornied. Richard Mcclay FCA (Senior Statutory Auditor) For and on behalf of Mccreery Turkington Stockman LTD l Lanyon Quay BELFAST BTI 3LG Chartered Accountants 15th October 2024 Page 8 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Statement of Financial Activities (Enclllding Summary Income and Expenditure Account) for the year ended 31 March 2024 Unrestricted Restricted Funds Funds Total Total 2024 2024 2024 2023 Income from.. Charltable activities Donations and legacies Investment Income Notes 307,880 220 1,833 506,903 814,783 220 1,833 529,278 385 580 Total incoming resources 309,933 506,903 816.836 530,243 Expenditure on: Charitable activities (308,274) (453,940)(762,214) (660.877) Total resources expended (308,274) (453,940)(762,214) {660,877) Net income before transfers 1.659 52,963 54,622 (130,634) Net incoming resources 1,659 52,963 54,622 (130,634) Fund balan¢¢s brought forward 280,189 15,025 295,214 425,848 Fund balances carried forward 281,848 67,988 349,836 295.214 All of the above results are derived from continuing gains and losscs recognised in th¢ year are included above. The notes on pages 12 to 19 form an integral part of these financial statements. Page 9 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Balance sheet s at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 12,678 15,704 Current assets Debtors Cash at bank and in hand 119,657 223,739 122,45 E 167,327 343,396 289,778 Creditors: amounts falling due Ivithin one year 10 (6,238) (10,268) Net current assets 337,158 279.510 Net assets 349.836 295,214 Capital and reserves Restricted funds Unrestricted funds 11 li 67,988 281,848 15,025 280,189 Total funds 349,836 295,214 The financial statements were approved by the Directors on 15 October 2024 and signed and approved for issuc on its behalf by Louise Togneri Trustee The notes on pages 12 to 19 form an inlegral part of these financial statements. Page 10 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Cash flow statement for the year ended 31 March 2024 2024 2023 Cash generated from operations Net income l (expenditure) for the year Depreciation Decrease in debtors (Decrease) in creditors lllvestment income recognised in statement of financial activities 54,622 3,027 2,793 (4,030) (1,833) (130,634) 7,252 35,989 5,668 (580) Net cash inflow from operating activities 54,579 (82,305) Cash flow statement Net cash inflow from operating activities 54,579 (82,305) Cash flow from investing aetivities Intercst received 1,833 580 Increase in cash in the year 56,412 (81,725) Reconciliation of net cash flow to movement in net funds Increase in cash ID the year Cash and eash equivaEents at l April 2023 56,412 l67,327 (81,725) 249,052 Cash and cash equivalents at 31 March 2024 223,739 167,327 Page 11 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Notes to the financial statements for the year ended 31 March 2024 Accounting policies Company information Community Advice Ards and North Down is a Company limited by guarantee, registered in Northern Ireland. The address of the registered offEce is Hamilton Road Community Hub, 39A Harnilton road, Bangor, Co Down, BT20 4LF. Accounting convention The accounts have been prepared Én accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practi¢¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreEand published in October 2019 The charity is a Public Bencfit Entity as defwed by FRS 102. The financial statemcnts are prepared in sterling. which is the functional ¢uNency of the company. Monetary amounts in these financial statements are rounded to the nearest £. Going concern At the time of approvtng the accounts the trustees have a rcasonablc ¢xpectdtÉon that the charity has adcquate r¢sourc¢s to continue in operational existence for the foreseeablc future. Thus the tnjstees continue to adopt the going concem basis of accounting in preparing thc financial statements. 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the Trust¢¢s in furtheiance of their charitable objectives unless the funds have been designated for other PUTposes. Restri¢t¢d ￿ndS are subject to specific conditions by donors as to how they may be used. The purposes and uses of the rcstrictcd funds are set out in the notes to the financial statements. 1.4. Incoming resources Income is recognised when the charity is legally ¢ntitl¢d to it after any perforn]an¢¢ conditions have been met, the amounts can be measuT¢d reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless perforniance conditions require deferral of the amount. Income tax recovcrable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tim¢ of the donation. Legacies are recognised on receipt or othenvise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If thc amount is not known, the legacy is treated as a contingent asset. Investment income is recognised once the income and been declared and notifi¢d to bank accounts. 1.5. Resources expended All expenditure is accounted for on an accruals basis. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and th¢ amount of the obligation can b¢ measured reliably. Page 12 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Notes to the financial statements for tbe year ended 31 March 2024 continued 1.6. Tangible fixed assets and depreeiation Tangible fixed assets are initially recorded at cost and subsequently stated at cost (or deemed cost) or valuatlon less accumulated depreciation and accumulatcd impainnent losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as foRIows'. Land and buildings Fixtures, fittings and equipment I 00/0 Straight line 250/0 reducing balance 1.7. Impairment of fixed assets Assets not measured at fair value dre reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated, and cornpaied to the carrying amount. Wher¢ the carrying amount exceeds its recoverable amount, an impaimient loss is reCo￿lISed in suoilus or deficit unless the asset is carried at a revalued amount where the impaÉnnent loss is a Tevaluatlon decreasc 1.8. Cash at bank and in hand Cash and cash cquivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or Eess, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Page 13 COMMUNITY ADVICE ARDS AND NORTH DOWN LTD Notes to the financial statements for the year ended 31 March 2024 continued Financial Instruments The charity has elected to apply the provisions of Section I I 'Basic Financial Instrnments, and Section 12 '0ther Financial Instrnments Issues, of FRS E 02 to all of its financial instruments. Financial Anstruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. FÈnanci