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COMPANY REGISTRATION NUMBER: 03954988
CHARITY REGISTRATION NUMBER: 1080581
Citizens Advice Copeland
Unaudited Financial Statements
For the Year Ending
31 March 2024
Citizens Advice Copeland
Financial Statements
Year Ended 31 March 2024
Page
Trustees' Annual Report (Incorporating the Director's Report)
1
Independent Examiner's Report to the Trustees
9
Statement of Financial Activities (Including Income and Expenditure Account)
10
Statement of Financial Position
11
Statement of Cash Flows
12
Notes to the Financial Statements
13
Citizens Advice Copeland
Trustees' Annual Report (Incorporating the Director's Report)
Year Ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Objectives and Activities
The aims of the company are:
To promote any charitable purpose for the benefit of the community in the Copeland area by the advancement of education, the protection of health and the relief of poverty, sickness and distress.
Our activities principally relate to providing advice on money (debt) and welfare benefits, together with housing advice and specialist services for people with physical or mental ill health and others. We help people overcome their problems and we campaign on big issues when their voices need to be heard.
We ensure that the purpose of our charity is beneficial and carried out so as to benefit the public beneficially. We identify risks of harm and minimise those risks. We seek to ensure that the advice we provide is available to all who need it. We do not charge for our service and people receive no unnecessary personal benefits.
We are a volunteer led service which relies on a team of volunteers to undertake a number of roles within our organisation. Our volunteer roles include Trustees, Advisers, Administrators and Campaigners.
Achievements and Performance
This year Citizens Advice Copeland has continued to work to meet the needs of people living and working throughout Copeland. Our free, independent, confidential service remains in demand with more of our clients requiring longer term support with more complex issues.
Our key stats for the period are:
- 2,116 clients supported
- 20,017 issues dealt with
Our income gains for this period total (confirmed and expected):
- £3,5 million income gain
- £971,912 debts written off
- £1.14 million debts rescheduled
- £1.87 million benefits maintained, debts repaid and debts under control
In addition to this:
- 140 Food vouchers were issued
- 166 Fuel / Food vouchers totalling £8,968 were issued
- 6 applications to the Credit Union hardship fund were made totalling £1500
- 100 Hardship grants were issues totalling £5071
- 45 clients were supported from our Hardship Relief Fund totalling £19,846.20
The most significant issues were; 29.78% relating to benefits and 26.38% relating to debt
This year we have delivered projects for the following funders:-
- Cumberland Council
- Copeland Community Fund
- Citizens Advice Energy Advice Programme
- Money and Pensions Service
- Cost of Living Project
- Sellafield Ltd
- Groundwork North East and Cumbria
- Macmillan Cancer Support
- The National Lottery Community Fund
- Phoenix Enterprise Centre
- Phyllis Harney Trust
- Cumbria Community Foundation
All these projects have allowed us to meet the needs of some of our most vulnerable residents. We have continued to develop the provision of financial wellbeing support via our website which covers a range of topics such as how to plan a sustainable budget, saving and planning for the future and how to manage a change in income. Working in partnership with Citizens Advice Allerdale we have also delivered workshops to schools promoting the benefits of, and helping students to, plan and save for their future.
We continue to have strong partnerships with a range of organisations including Cumberland Council, Time To Change West Cumbria, Phoenix Enterprise Centre and Whitehaven, Egremont and District Credit Union to provide services and support for those who continue to be affected by the cost of living crisis.
We met the performance requirements of our funders (a requirement in order to receive the funding).
We were successful with sufficient bids to provide services meeting our aims and values to almost cover our costs therefore achieving our funding objectives.
Financial Review
The charity showed a deficit for the year of £32,410 (2023 - £6,504).
At 31 March 2024 general reserves totalled £127,738 and there was a further £77,332 in designated funds. Restricted funds totalled £2,786.
4.5% of income is 'core funding' from Cumberland Council to deliver advice services throughout the Copeland Area. This is agreed via an annual Service Level Agreement.
We deliver a county-wide welfare benefit contract (through Citizens Advice Cumbria) for Macmillan Cancer Support. Our remaining funding supports us to deliver energy, financial wellbeing, benefit and debt advice projects. We are increasingly working in partnership with other organisations (eg Whitehaven and Egremont District Credit Union and Citizens Advice Allerdale) for delivering these projects. Fundraising is typically less than 1% of the total income received.
Reserves Policy
Our income is dominated by competitive contracts providing restricted funds which create minimal opportunity for building reserves. Our financial position is precarious due to the uncertainty both of receiving and the short term nature of these contracts. To achieve the aims of our charity we must seek to preserve our solvency requiring reserved funds to manage credible risks. The current view of the amount our charity needs to hold in reserve is £118,000 (~11 weeks trading costs) but that is an an aspirational target
Our ability to increase the level of reserve is constrained not only by the difficult financial climate but also because most of our income is restricted to specific projects and so we are not at liberty to divert it to other uses such as reserves.
Going Concern
While we are confident that we remain a going concern in that our funders continue to value our service, changes to their financial stability could affect that confidence. The short term nature of most of our funding is a vulnerability which we have limited scope to influence.
Investment Policy
We have insufficient funds to make social investments and therefore have no associated policy.
Plans for Future Periods
The key objectives for 2024/25 are the development of our service to not only meet the needs of our communities but also ensure that through partnership working and funding we remain a leading West Cumbrian charity supporting some of our most vulnerable clients through crisis.
To do this we will focus on the following four areas:
Partnerships
We will develop relationships with the LCAs under Cumberland council control to maximise benefit for all. We will enhance our advice by working alongside key service providers whose organisations complement our service. We will look for new opportunities to promote our organisation and the services we provide in order to increase our reach across Copeland.
Advice
Deliver our service to ensure access to anyone who needs it, ensuring it advances equity, diversity, and inclusion.
Sustainability
We will ensure that we secure our future as a service through a more collaborative, proactive and competitive approach to fundraising and funding whilst keeping true to our principles.
People
To attract and retain high-quality staff and volunteers (incl trustees) to help us be an effective and inclusive employer.
We continue to build strong relationships with local agencies and support groups working with them to meet the needs of our community. Joint working with other local Citizens Advice offices in Cumbria continues and we continue to play an active role in this.
Structure, Governance and Management
Governing Document
The company was established under Memorandum of Association which established the objects and powers of the charitable company governed under its Articles of Association. Subsequently we adopted the National Citizens Advice model Articles of Association (which incorporate the relevant parts of the memorandum) to implement the requirements of the Companies Act 2006. We also altered our name to align to National Citizens Advice branding removing the term 'Bureau' so changing from 'Copeland Citizens Advice Bureau' to ' Citizens Advice Copeland ' on 15 January 2019, also approved by both bodies.
The organisation is a charitable company limited by guarantee, incorporated in 03 March 2000 and registered as a charity on 05 May 2000. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Recruitment and Appointment of Trustees
The directors of the company are also charity trustees for the purposes of the Charity Law and under the Company's Articles are known as members of the Management Council. Under the requirements of the Memorandum and Articles of Association in every subsequent year one-third of the members of the council for the time being or, if their number is not three or a multiple of three, then the number nearest one-third, shall retire from office.
The members of the Council to retire in every year shall be those who have been longest in office since their last election, but as between persons who become members of the Council on the same day those to retire shall (unless they otherwise agree amongst themselves) be determined by lot.
Trustee Induction and Training
Trustees are given induction training by attending an initial meeting where the aims and objectives of the charity are clarified and explained. Packs explaining the roles, duties and responsibilities of Trustees are provided. All new trustees receive the Charity Commissions guide 'The Essential Trustee'. Trustees attend further appropriate training courses organised by Citizens Advice nationally.
Organisational Structure
The charity has a Management Board of up to fifteen members with a minimum of three, who meet regularly and are responsible for the strategic direction and policy of the charity. At present, the Board has eight members from a variety of professional backgrounds relevant to the work of the charity.
The Management Board has appointed a Finance and Risk Group which comprises of a representative from the Management Board, the Finance Officer and Chief Officer. They meet on a quarterly basis to discuss issues relating to funding, review finance reports, discuss our budget and ensure that accounts reports are presented to the Board on a quarterly basis for their approval.
The Chief Officer has responsibility for securing all funding and the day to day operational management of the organisation ensuring that the team continues to develop their skills and working practices in line with best practice.
Risk Management
The Board of Management reviews the major risks to the charity on an ongoing basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.
Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers and visitors to the bureau.
We have adopted an information risk assurance policy and have developed our arrangements to meet the requirements of the Data Protection Act legislation implemented in 2018.
Related Parties
The charity co-operates with the National Association of Citizens Advice in the pursuit of its charitable objectives. The charity is a member of Citizens Advice Cumbria and deliver project work as a sub-contractor on county wide contracts secured by CAC (Macmillan project). The Chief Officer attends meetings of other voluntary organisations in the area to promote cohesive service delivery, to identify any gaps in the provision of services, particularly for 'hard to reach' and vulnerable groups and to to seek out opportunities for collaborative delivery.
Key management personnel remuneration
The trustees consider the Board of Trustees and the chief executive as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 15 to the accounts.
The pay of the charity's chief executive is reviewed annually and assessed in accordance with average earnings. The remuneration is also bench-marked with charities of a similar size and activity to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles.
Reference and Administrative Details
Registered charity name
Citizens Advice Copeland
Charity registration number
1080581
Company registration number
03954988
Principal office and registered
Phoenix House
office
3-5 Jacktrees Road
Cleartor Moor
Cumbria
CA25 5BD
The Trustees
Mr P Hanratty
(Resigned 8 November 2023)
Mr G P Smith
Mrs J L Donaldson
Mr D J Wallace (Chair)
Mrs H M Conway
(Resigned 19 February 2024)
Mr C Brown
(Appointed 16 August 2023)
Ms S Graham
(Appointed 16 August 2023)
Ms G Elliott
(Appointed 13 December 2023)
Mr K Peel
(Appointed 13 December 2023)
Ms A-M Melvin
(Appointed 1 August 2024)
Company Secretary
Mrs J L Donaldson
Independent Examiner
Jane Ascroft FCA MA (Cantab)
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8XT
Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 26 November 2024 and signed on behalf of the board of trustees by:
Mr D J Wallace (Chair)
Trustee
Citizens Advice Copeland
Independent Examiner's Report to the Trustees of Citizens Advice Copeland
Year Ended 31 March 2024
I report to the trustees on my examination of the financial statements of Citizens Advice Copeland ('the charity') for the year ended 31 March 2024.
Responsibilities and Basis of Report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement
Since the charity’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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), 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 the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements 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 financial statements 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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jane Ascroft FCA MA (Cantab) Independent Examiner
Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT
26 November 2024
Citizens Advice Copeland
Statement of Financial Activities
(including income and expenditure account)
Year Ended 31 March 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
2,241
2,241
2,509
Charitable activities
6
62,000
628,603
690,603
704,713
Investment income
7
2,579
2,579
501
Other income
8
642
1
643
1,201
--------
---------
---------
---------
Total income
67,462
628,604
696,066
708,924
--------
---------
---------
---------
Expenditure
Expenditure on charitable activities
9,10
71,273
657,203
728,476
715,428
--------
---------
---------
---------
Total expenditure
71,273
657,203
728,476
715,428
--------
---------
---------
---------
--------
---------
---------
---------
Net expenditure
( 3,811)
( 28,599)
( 32,410)
( 6,504)
--------
---------
---------
---------
Transfers between funds
(2,118)
2,118
Other recognised gains and losses
Revaluation loss
( 8,720)
( 8,720)
--------
---------
---------
---------
Net movement in funds
( 14,649)
( 26,481)
( 41,130)
( 6,504)
Reconciliation of funds
Total funds brought forward
219,719
29,267
248,986
255,490
---------
---------
---------
---------
Total funds carried forward
205,070
2,786
207,856
248,986
---------
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Citizens Advice Copeland
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed Assets
Tangible fixed assets
16
75,934
83,720
Current Assets
Debtors
17
75,730
66,695
Cash at bank and in hand
154,358
203,986
---------
---------
230,088
270,681
Creditors: amounts falling due within one year
18
98,166
105,415
---------
---------
Net Current Assets
131,922
165,266
---------
---------
Total Assets Less Current Liabilities
207,856
248,986
---------
---------
Net Assets
207,856
248,986
---------
---------
Funds of the Charity
Restricted funds
2,786
29,267
Unrestricted funds
205,070
219,719
---------
---------
Total charity funds
21
207,856
248,986
---------
---------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
Mr D J Wallace (Chair)
Trustee
Citizens Advice Copeland
Statement of Cash Flows
Year Ended 31 March 2024
2024
2023
£
£
Cash Flows from Operating Activities
Net expenditure
(32,410)
(6,504)
Adjustments for:
Depreciation of tangible fixed assets
3,591
12,975
Other interest receivable and similar income
( 2,579)
( 501)
Accrued income
( 48,523)
( 13,867)
Changes in:
Trade and other debtors
52,174
( 18,010)
Trade and other creditors
( 19,935)
155
--------
--------
Cash generated from operations
( 47,682)
( 25,752)
Interest received
2,579
501
--------
--------
Net cash used in operating activities
( 45,103)
( 25,251)
--------
--------
Cash Flows from Investing Activities
Purchase of tangible assets
( 4,525)
--------
--------
Net cash used in investing activities
( 4,525)
--------
--------
Net Decrease in Cash and Cash Equivalents
( 49,628)
( 25,251)
Cash and Cash Equivalents at Beginning of Year
203,986
229,237
---------
---------
Cash and Cash Equivalents at End of Year
154,358
203,986
---------
---------
Citizens Advice Copeland
Notes to the Financial Statements
Year Ended 31 March 2024
1. General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Phoenix House, 3-5 Jacktrees Road, Cleartor Moor, Cumbria, CA25 5BD.
2. Statement of Compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going Concern
While we are confident that we remain a going concern in that our funders continue to value our service, changes to their financial stability given the uncertain political and economic environment could affect that confidence.
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The trustees consider that there are no significant estimates or judgements affecting these financial statements.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
Straight line over 50 years
Long leasehold property
-
Straight line over 20 years
Fixtures and fittings
-
Straight line over 3 - 5 years
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
The charity only has financial assets and 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.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.
Cash at Bank and in Hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company 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.
4. Limited by Guarantee
The company is limited by guarantee. At 31st March 2024 there were 7 members each of whom had undertaken to contribute an amount not exceeding £1 in the event of a winding up.
5. Donations and Legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Donations
2,241
2,241
2,509
2,509
-------
-------
-------
-------
6. Charitable Activities
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
MacMillan
51,370
51,370
MaPS DAP
107,815
107,815
CC Money Advice
57,060
57,060
Copeland Borough Council
Cumberland Council
32,000
33,933
65,933
National Citizens Advice
46,798
46,798
The National Lottery Community Fund
Phyllis Harney Trust
25,000
25,000
Groundwork North East & Cumbria
501
501
Sellafield
5,000
5,000
Cumbria Community Foundation
139,316
139,316
Copeland Community Foundation
183,688
183,688
Other grants
8,122
8,122
--------
---------
---------
62,000
628,603
690,603
--------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
MacMillan
28,920
28,920
MaPS DAP
111,598
111,598
CC Money Advice
57,060
57,060
Copeland Borough Council
32,000
5,000
37,000
Cumberland Council
7,000
80,036
87,036
National Citizens Advice
506
23,244
23,750
The National Lottery Community Fund
50,833
50,833
Phyllis Harney Trust
30,000
30,000
Groundwork North East & Cumbria
39,452
39,452
Sellafield
Cumbria Community Foundation
125,577
125,577
Copeland Community Foundation
90,774
90,774
Other grants
1,412
21,301
22,713
--------
---------
---------
70,918
633,795
704,713
--------
---------
---------
7. Investment Income
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Bank interest receivable
2,579
2,579
501
501
-------
-------
----
----
8. Other Income
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Other income
642
1
643
----
----
----
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Other income
919
282
1,201
----
----
-------
9. Expenditure on Charitable Activities by Fund Type
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Direct charitable costs
44,769
558,798
603,567
Support costs
26,504
98,405
124,909
--------
---------
---------
71,273
657,203
728,476
--------
---------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Direct charitable costs
43,453
567,152
610,605
Support costs
31,927
72,896
104,823
--------
---------
---------
75,380
640,048
715,428
--------
---------
---------
10. Expenditure on Charitable Activities by Activity Type
Activities undertaken directly
Support costs
Total funds 2024
Total fund 2023
£
£
£
£
Direct charitable costs
603,567
123,709
727,276
714,421
Governance costs
1,200
1,200
1,007
---------
---------
---------
---------
603,567
124,909
728,476
715,428
---------
---------
---------
---------
11. Net Expenditure
Net expenditure is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
3,591
12,975
-------
--------
12. Independent Examination Fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,200
1,200
-------
-------
13. Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
467,972
430,532
Social security costs
43,969
39,821
Employer contributions to pension plans
20,882
18,442
---------
---------
532,823
488,795
---------
---------
Citizens Advice Copeland payrolled costs include two employees who are contracted to a neighbouring independent charity. There is an arrangement between the charities that the employees are processed via Citizens Advice Copeland s who are in turn reimbursed the cost by the independent charity.
The payrolled costs of the above employees and respective reimbursements are not included within the financial statements of the company.
The average head count of employees during the year was 17 (2023: 16 ). The average number of full-time equivalent employees during the year is analysed as follows:
2024
2023
No.
No.
Project staff
9
9
Supervisory staff
1
1
Administrative staff
5
4
Other staff
2
2
----
----
17
16
----
----
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £52,413 (2023:£50,285).
14. Trustee Remuneration and Expenses
Trustees have received neither remuneration nor expenses during the current and previous period.
15. Transfers Between Funds
Unrestricted funds have been used to cover small deficits on a number of restricted funds during the year.
Restricted funds with small surpluses arising due to cost allocations have been moved to unrestricted reserves.
16. Tangible Fixed Assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
133,399
60,368
193,767
Additions
4,525
4,525
Revaluations
( 8,720)
( 8,720)
---------
--------
---------
At 31 March 2024
124,679
64,893
189,572
---------
--------
---------
Depreciation
At 1 April 2023
49,679
60,368
110,047
Charge for the year
2,083
1,508
3,591
---------
--------
---------
At 31 March 2024
51,762
61,876
113,638
---------
--------
---------
Carrying amount
At 31 March 2024
72,917
3,017
75,934
---------
--------
---------
At 31 March 2023
83,720
83,720
---------
--------
---------
Tangible fixed assets held at valuation
The freehold property at Millom was revalued in June 2024 by H & F Estate & Letting Agency at £75,000.
17. Debtors
2024
2023
£
£
Trade debtors
14,118
Prepayments and accrued income
75,730
52,577
--------
--------
75,730
66,695
--------
--------
18. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,599
1,159
Accruals and deferred income
94,567
104,256
--------
---------
98,166
105,415
--------
---------
19. Deferred Income
2024
2023
£
£
At 1 April 2023
101,323
100,231
Amount released to income
(101,323)
(100,231)
Amount deferred in year
78,948
101,323
---------
---------
At 31 March 2024
78,948
101,323
---------
---------
The deferred income at the reporting date relates to a grants received during the year which relate to future accounting periods. The grants are in relation to the TWC Financial Wellbeing Project, the TWC Core Costs, the TWC Mental Health and Wellbeing, the CC Form Filling Project, the Financial Inclusion project, the Waiting Well project and the Cumberland Council core grant.
20. Pensions and Other Post Retirement Benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 20,882 (2023: £ 18,442 ).
TPT Retirement Solutions - The Growth Plan The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows: Deficit contributions From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly) Unless a concession has been agreed with the trustee the term to 31 January 2025 applies. Note that the scheme's previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: Deficit contributions From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April) The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.
21. Analysis of Charitable Funds
Unrestricted funds
At 1 Apr 2023
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2024
£
£
£
£
£
£
General funds
131,839
42,462
(43,398)
(3,165)
127,738
Capital Fund
83,720
(2,432)
1,047
(8,720)
73,615
Phyllis Harney Trust
4,160
25,000
(25,443)
3,717
---------
--------
--------
-------
-------
---------
219,719
67,462
(71,273)
(2,118)
(8,720)
205,070
---------
--------
--------
-------
-------
---------
At 1 Apr 2022
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2023
£
£
£
£
£
£
General funds
134,897
44,447
(32,010)
(15,495)
131,839
Capital Fund
(12,975)
96,695
83,720
Phyllis Harney Trust
4,155
30,400
(30,395)
4,160
---------
--------
--------
--------
----
---------
139,052
74,847
(75,380)
81,200
219,719
---------
--------
--------
--------
----
---------
Restricted funds
At 1 Apr 2023
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2024
£
£
£
£
£
£
Equipment
(1,159)
3,478
2,319
Financial Inclusion Project
161,734
(161,322)
(412)
CCC Money Advice
1,123
57,060
(57,992)
(191)
MASDAP
2,215
107,815
(108,487)
(1,543)
MacMillan
382
51,371
(51,575)
(178)
Groundwork
501
(3,116)
2,615
Phoenix Enterprise Centre project
7,656
(7,619)
(37)
TWC Financial Wellbeing
3,138
67,147
(70,172)
(113)
TWC Core Costs
6,241
22,507
(28,670)
(78)
CCC Hardship Fund
CCC Household Essentials Fund
TWC Bedrock Fund
2,949
42,500
(45,277)
(172)
Energy Advice Project
9,799
31,798
(41,485)
(112)
CCC First Contact
22,408
(22,311)
(97)
CCC Mental Wellbeing Project
382
6,443
(6,480)
(345)
COMF Benefit Advice
Copeland Hardship Relief Fund
3,038
21,953
(24,379)
(612)
Employment Advice
Foodbank Outreach
Hospital Discharge Advice
TWC Mental Health & Wellbeing
7,162
(7,145)
(17)
Waiting Well project
467
467
Cost Of Living project
15,000
(14,950)
(50)
CC Form Filling Project
5,082
(5,064)
(18)
Other restricted funds
--------
---------
---------
-------
----
-------
29,267
628,604
(657,203)
2,118
2,786
--------
---------
---------
-------
----
-------
At 1 Apr 2022
Income
Expenditure
Transfers
Gains and losses
At 31 Mar 2023
£
£
£
£
£
£
Equipment
86,048
(86,048)
Financial Inclusion Project
138,569
(140,641)
2,072
CCC Money Advice
1,189
57,060
(57,126)
1,123
MASDAP
2,116
111,598
(111,499)
2,215
MacMillan
402
28,920
(28,940)
382
Groundwork
39,452
(39,882)
430
Phoenix Enterprise Centre project
7,656
(7,646)
(10)
TWC Financial Wellbeing
3,122
59,611
(59,595)
3,138
TWC Core Costs
6,189
33,740
(33,688)
6,241
CCC Hardship Fund
24,000
(24,000)
CCC Household Essentials Fund
4,214
5,000
(9,292)
78
TWC Bedrock Fund
2,949
7,545
(7,545)
2,949
Energy Advice Project
9,789
23,244
(23,234)
9,799
CCC First Contact
7,592
(9,708)
2,116
CCC Mental Wellbeing Project
25,844
(25,821)
359
382
COMF Benefit Advice
22,600
(22,595)
(5)
Copeland Hardship Relief Fund
3,038
3,038
Employment Advice
10,000
(10,076)
76
Foodbank Outreach
3,645
(3,645)
Hospital Discharge Advice
15,282
(15,327)
45
TWC Mental Health & Wellbeing
9,681
(9,788)
107
Waiting Well project
Cost Of Living project
CC Form Filling Project
Other restricted funds
420
(420)
---------
---------
---------
--------
----
--------
116,438
634,077
(640,048)
(81,200)
29,267
---------
---------
---------
--------
----
--------
The specific purpose for which funds are to be assigned follow below:
General Advice
Unrestricted funds to support a general advice service for Copeland residents provided from our Whitehaven and Millom offices.
Phyllis Harney
Unrestricted funds to support a general advice service for clients in financial hardship, particularly younger people and families experiencing poverty.
Cumberland Council (CC) Money Advice
Restricted funds to provide money advice and financial capability services in Copeland.
Money And Pension Service Debt Advice Project (MaPS DAP) Restricted funds to provide debt advice to clients in financial difficulty.
Macmillan
Restricted funds to provide welfare benefits casework to cancer patients and their families.
Groundwork
Restricted funds to provide welfare benefits advice to long-term unemployed clients to enable a move into paid employment.
Financial Inclusion Project
Restricted funds to provide welfare benefits and debt advice to clients.
Phoenix Enterprise Centre (PEC) Project
Restricted funds to provide a telephone referral/ advice system for those who access help via Phoenix Enterprise Centre.
Transforming West Cumbria (TWC) Financial Wellbeing
Financial Wellbeing Project Grant received from Cumbria Community Foundation through the Transforming West Cumbria programme, funded by Sellafield Ltd to improve the financial wellbeing of individuals in West Cumbria.
Energy Advice Programme
Restricted funds provided by Citizens Advice (NACAB) to deliver advice on energy-related issues.
Transforming West Cumbria (TWC) Core Costs
Restricted funds towards the salary costs of core staff (management, training, finance, administration, cleaning).
Cumbria County Council (CCC) Hardship Fund
Restricted funds combined with an anonymous donation made via Cumbria Community Foundation. The funds were used to establish a hardship fund for clients and towards salary cost for making awards from the hardship fund.
Cumbria County Council (CCC) Household Essentials Fund Restricted funds combined with grants from Copeland Borough Council to purchase essential household items that were made into kits and provided to clients in hardship who had moved into a new property, with a particular focus on those housed by Copeland Borough Council under homelessness legislation.
Transforming West Cumbria (TWC) Bedrock Fund
Restricted funds to help organisations plan for sustainability, development and growth via analysis of opportunities for improvement.
Cumbria County Council (CCC) First Contact
Restricted funds to provide a dedicated first tier advice service for the people of Copeland with the aim of delivering free poverty advice and increasing service capacity.
Cumbria County Council (CCC) Mental Wellbing Project
Restricted funds to provide expert advice on the problems that are negatively affecting individuals mental wellbeing.
COMF Benefit Advice
Restricted funds to provide specialist benefit advice with a view to maximising income and reducing levels of hardship in Copeland.
Copeland Hardship Relief Fund
Restricted funds to help service users in crisis: the fund allowed us to offer both discretionary financial support to relieve the immediate hardship situation and advice to provide greater financial stability in the longer term.
Employment Advice
Restricted funds to provide access to a county-wide specialist consultancy service for employment enquiries.
Foodbank Outreach
Restricted funds to provide telephone advice to service users of the Egremont centre of North Lakes Foodbank. The advice was aimed at assessing food voucher eligibility and identifying options that would provider longer term financial stability.
Hospital Discharge Advice
Restricted funds to provide an advice service to recent hospital patients to make the discharge process possible and more manageable.
TWC Mental Health & Wellbeing
Restricted funds to provide advice to the service users of the West Cumbria Mental Health Partnership.
Cumberland Council (CC) Form Filling Project
Restricted funds awarded by Cumberland Council to assist clients with the completion of welfare benefit forms so that they can access entitlement and maximise their awards
Cost Of Living Project
Restricted funds awarded by the national Citizens Advice team to enable local offices to help clients through the cost-of-living crisis by supporting or increasing direct service delivery capacity
Waiting Well Project
Restricted funds to provide debt and benefit advice to clients waiting for surgery who are referred to our service by Together We and Fit 4 Life
22. Analysis of Net Assets Between Funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
73,615
2,319
75,934
Current assets
229,621
467
230,088
Creditors less than 1 year
(98,166)
(98,166)
---------
-------
---------
Net assets
205,070
2,786
207,856
---------
-------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
83,720
83,720
Current assets
246,262
24,419
270,681
Creditors less than 1 year
(105,415)
(105,415)
---------
--------
---------
Net assets
224,567
24,419
248,986
---------
--------
---------
23. Analysis of Changes in Net Debt
At 1 Apr 2023
Cash flows
At 31 Mar 2024
£
£
£
Cash at bank and in hand
203,986
(49,628)
154,358
---------
--------
---------