Ceredigion Citizens Advice Bureau - Charities report

REGISTERED COMPANY NUMBER: 03341148 (England and Wales)

REGISTERED CHARITY NUMBER: 1061839

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Cyngor ar Bopeth Ceredigion Citizens

Advice Bureau

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

11

Independent Examiner's Report

12

Statement of Financial Activities

13

Balance Sheet

14

to

15

Cash Flow Statement

16

Notes to the Cash Flow Statement

17

Notes to the Financial Statements

18

to

30

TRUSTEES

S Chambers

P Hinge (resigned 9.8.24)

D M James

C Davies

S P Stratton

S Chadbourne (resigned 24.4.24)

R Hanniford (appointed 3.3.25)

COMPANY SECRETARY

REGISTERED OFFICE

1 Upper Ground Floor Creuddyn,

Pontfaen Road

Lampeter

Ceredigion

SA48 7BN

REGISTERED COMPANY

NUMBER

03341148 (England and Wales)

REGISTERED CHARITY

NUMBER

1061839

INDEPENDENT EXAMINER

Ashmole and Co.

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

BANKERS

The Co-operative Bank

PO Box 250

Skelmersdale

WN8 6WT

Nationwide Building Society

Nationwide House

Pipers Way

Swindon

SN38 1NW

The Trustees, who are also the Directors for the purpose of the Companies Act 2006, present their annual report with the financial statements of the Charity for the year ended 31st March 2025. The provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the charities SORP (FRS 102) have been adopted in preparing the attached financial statements.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Public benefit & charitable objects

The charity's objects, as set out in the objects contained in the Company's Memorandum of Association, are to promote any charitable purpose for the benefit of the whole community of Wales ("the area of benefit") the public benefit, by the advancement of education, the protection and preservation of health and the relief of poverty, sickness and distress.

The charity's objects are defined as above. Our aims are focused on:

Providing the advice people need for the problems they face

Improving the policies and practices that affect people's lives

Our service provides free, independent, confidential and impartial advice to everyone on their rights and responsibilities. We value diversity, promote equality and challenge discrimination.

Though the area of benefit refers to the whole community of Wales, the local office focuses its activities on the county of Ceredigion and surrounding areas. It also contributes to delivering regional and national services where the beneficiaries include people and communities in Ceredigion.

Ensuring our work delivers our aims

We review our objectives and activities each year as part of our Business Planning cycle. The annual review examines achievements and outcomes, and identifies service pressures in terms of client demand, demographics and wider community need. We use our aims to focus our development priorities.

Focus of our work

Our main objectives for the year have been to raise our local profile, extending our community reach through a more active presence at local events, proactive social media messaging, refreshed marketing and regular involvement on partnership networks of local services and policy makers. This greater visibility and presence ensures we are more readily known and accessible to those who need us, and especially those who need us the most ensure clients can access the expertise they need to secure their rights - especially vulnerable people increases the range of channels of advice to better meet vulnerable client needs particularly in the context of the ongoing cost-of-living pressures.

Key activities have included:

-

Receiving and responding to client enquiries through a range of channels - phone, email, WhatsApp, Facebook
messenger, text and post

-

Growing our weekly drop-in sessions at community venues in Aberystwyth (St Pauls Methodist Centre),
Cardigan (Kinora, St Mary's Old School Hall) and Lampeter (Emaus Church).

-

Continuing our offer of in-person appointments on a fortnightly and/or monthly basis in Borth Community
Centre, Camfan Centre Lampeter and Penparcau Hwb.

-

Recruiting and training new volunteers to support the community drop-in services.

-

Running monthly, in-person collaboration and training days for all paid staff to maintain skills and ensure
connectivity across the home-based team.

-

Investing in communications capacity within the organisation to increase our social media activity and
engagement, and establishing a rolling programme of community events at which to market our services.

-

Maintaining our specialist caseworker services in key areas of client demand - specifically, welfare benefits,
debt and energy.

-

Securing new funding to continue our proactive energy advice services.

-

Close working with local Citizens Advice colleagues across Wales and in the Mid and West Wales region to
secure Welsh Government's recommissioned Single Advice Fund 2025-2028.

HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT

Our main activities and who we try to help are described below. All our charitable activities focus on providing the advice people need for the problems they face and are undertaken specifically to provide public benefit. The board of trustees have had due regard to the Charity Commission guidance on public benefit and have complied with the duty in section 4 of the Charities Act 2011.

.

ACHIEVEMENTS AND PERFORMANCE

Advice and Information Services

The main areas of charitable activity are:

-

the provision of general advice and information services

-

the provision of specialist advice and casework services in the debt and welfare benefits categories of social
welfare law

Throughout the year we have continued to offer Advice and Information in the following ways:

-

Providing generalist advice with access to specialist advice and casework services by telephone, email and
other digital channels - through our local phone number, local email and local Whats/App, Messenger and text
service, and via our participation in national services including AdviceLink Cymru, Claim Whats Yours and
national Citizens Advice 'work queue' arrangements.

-

Delivering specialist casework services to clients with complex requirements in welfare benefits, debt and
energy.

-

Maintaining in-person appointments at community venues run by partner organisations around the county for
those clients whose needs are such that phone/digital advice is not appropriate.

-

Providing appointments via phone and digital that enable clients to tackle complex issues and/or progress their
case with their adviser or caseworker - and, in line with the client's needs, enabling 3-way calls to facilitate the
involvement of a third party (like a support worker, carer or interpreter)

-

Enabling document drops via screen capture (in digital appointments), WhatsApp image capture, and our new
PO Box postal address.

-

Delivering appointments, advice and information sessions from multiple venues across the county including in
community, health, and family, leisure and wellbeing centres, as well as local, local partners' offices and events,
and community shows and festivals.

Contribution of Volunteers and Paid Staff

The charity's success relies on the commitment and expertise of paid staff and volunteers. The trustee board and management team recognise the tremendous contribution made by the charity's volunteers in advising the public and supporting the service.

Throughout 2024/25, the service employed 19 paid staff (16.4 FTEs) and supported up to 14 volunteers over the year (each contributing an average of 4 hours per week over an average of 45 weeks each).

Our volunteers have contributed 2,520 hours (2023/24: 2,160 hours; 2022/23: 2,160 hours; 2021/22: 1,774 hours). This may be expressed as an annualised value of £25,956 (2023/24: £22,248; 2022/23: £22,248; 2020/21: £33,372). Beyond their monetary value, Volunteers bring many skills to the service, for example having life and work experience in many varied areas and roles, and very often the experience gained as a volunteer helps individuals gain or return to full employment.

Ceredigion Citizens Advice has reviewed our approach to attracting and keeping volunteers, and the policies that underpin our support. We are grateful to funding from the National Lottery Communities Fund and Ceredigion County Council's UK Shared Prosperity Fund for enabling us to continue investing in and benefiting from our volunteers.

Who used and benefited from our services?

During the reporting year 2,920 clients (2023/24: 3,171; 2022/23: 2,752; 2021/22: 2,520) benefited from the services of Citizens Advice Ceredigion generating 13,329 separate issues (2023/24: 13,810; 2023/24: 13,830; 2021/22: 15,882). There were a further 388 'quick issue' clients (2023/24: 670; 2022/23: 896, 2021/22: 460), who were provided with self-help information, or signposted to other agencies for help.

Notwithstanding the slight fall in the number of clients advised following a steady rise in recent years, client demand remains high and the complexity of people's circumstances reflected in the multiple issues on which each client receives advice. Our holistic and generalist advice model continues to ensure we can offer both breadth and depth of advice - from welfare benefits to housing to debt to employment to relationship to energy and many more.

Whilst we advise people on any issue that they may face, our most common enquiry areas year in, year out, is welfare benefits which continue to make up 37% (2023/24: 37%; 2022/23: 38%; 2021/22: 44%) of the issues on which we advise clients. Personal Independence Payment remains, as it has in previous years, the top issue advised on in benefits, followed by general eligibility enquiries, Employment and Support Allowance and Limited Capability for Work.

In total the service negotiated on over £400,000 worth of debt (2023/24: £176,923l; 2022/23: £123,800; 2021/22: £382,064), rescheduling or reducing the debts to make peoples' lives more sustainable. Included in that figure is £278,121 of debts written off (2023/24: £152,717). These increases reflect the impact of Government policies that allow greater support for households under financial pressures.

The service generated a total of £1,686,140 (2023/24; £1,865,029; 2022/23: £1,28,434; 2021/22: £1,184,877) in confirmed additional income for clients demonstrating the substantial impact of our income maximisation advice on household incomes and the wider local economy.

Investment Activities

The bureau holds 561 ordinary 25p shares in GlaxoSmithKline and valued at £6,550 (2024: 9,585, 2023: £8,017) on a fair value basis as at 31st March 2025.

Factors Affecting the Achievement of Objectives

Maintaining sufficient funding to continue delivering the service remains a continual challenge. Financial sustainability is a core focus and income generation an ongoing activity. We continue to innovate and flex, in terms of the potential for our service development, achieve optimal efficiency in terms of our running costs and make the most of all the funding opportunities available to us. Above all, we remain focused on ensuring the continuity of a service that genuinely meets clients' needs.

The cost-of-living crisis has become an enduring reality for many of our clients, placing additional demands on our service. The support networks that were previously in place for people are changing and we are asked to offer support that falls outside the remit of direct advice. Where people are vulnerable, it is essential that we offer support in a person-centred way.

FINANCIAL REVIEW

The availability of funding in the charity sector remains difficult due to the time-limited and short- term nature of funding cycles. The award of the Single Advice Fund for three years, with the potential for a further three if funder requirements are met, is a real stabilising factor in the coming three years. The charity is committed to added value to all its funders from a base of sound financial management and ensuring services remain relevant to our strategic stakeholders and partners at local and national level.

Financial Review

In the reporting period, the charity had a deficit of £7,379 (Surplus £110,612 2023/24, Deficit 2022/23: (93,407)) from a total income of £649,120 (2023/24: £729,435 202/23 £480,729) and expenditure of £653,464 (2023/24: £620,692, 2022/23 £572,912) and an decrease in share values of £3,035 (Increase 2023/24: £1,568.56, Decrease 2022/23: £1,224). At the year end the charity's total funds stand a £503,695 (2023/24: £511,074, 2022/23 £400,462) of which £376,835 (2023/24 £356,503, 2022/23: £351,077) is unrestricted and £126,860 (2023/24 £154,571, 2022/23: £49,385) is restricted.

Reserves Policy

The Charity is required to ensure that free monies are available in each financial year to meet any reasonable foreseeable contingency. The Trustee Board took all necessary reasonable steps to ensure that it would not be possible for the cessation of one or more funding streams to present so serious a challenge to the future of the organisation that it could not be managed and continue to provide a best value advice service within the resources available.

In reviewing the potential costs that could arise should a significant reduction in income be incurred the Trustees determined that 'free' reserves should be maintained equal to 6 months normal operating expenditure which equates to £325,850. The organisation's free reserves (General and trustee designated) net of Fixed Assets amount to £331,979 as at 31st March 2025 (2023/24 £300,367, 2022/23: £282,445).

Principle Funding Sources

The total income for the year of £649,120 represents a net decrease of £80,315 compared to 2023/24 (£248,706 increase).

Project specific funding was gratefully received from:

Welsh Government, via its Single Advice Fund grant to Citizens Advice's Advicelink project, funds generalist social welfare advice and specialist casework services on welfare benefits and debt. We contribute to national delivery of Welsh Government's designated income maximisation telephone line, Claim What's Yours, and the Basic Income Pilot to support recent care leavers;

Our funding comes from a combination of UK Government, Ceredigion County Council, Citizens Advice (with funds from the energy industry), the Energy Savings Trust (Energy Redress Scheme), the National Lottery Communities Fund, Moondance Foundation and Ceredigion Association of Voluntary Organisations grants.

We are also grateful to Pembrokeshire County Council and local town councils for their support for our local, generalist advice services.

Funds in Deficit

No funds were in deficit at the balance sheet. Deficits on any restricted funds are met out of unrestricted reserves (see note 16).

Investment Policy

As required in its Memorandum paragraph 4.17, in furtherance of its objects, and for no other purposes, the Charity has the power to invest any surplus monies not immediately required for its purposes in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions and such consents as may for the time being be imposed or required by law.

Designated Funds

The designated funds represent monies set aside to meet potential future redundancy costs, upgrading the organisation's IT infrastructure, maintaining the building, putting in place a communication strategy as well as unrestricted fixed assets. In the opinion of the trustees, given the current economic climate and difficulty raising funds, there continues to be significant risk of closure and loss of funding.

Going Concern

After making further appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

FUTURE PLANS

The Board is committed to assuring the future of the organisation, maintaining its position as a key service in Ceredigion and North Pembrokeshire, and strengthening its capacity and delivery model to ensure accessibility and availability to everyone who needs advice.

We continue to deliver our 3-year Business Plan 2024-27, and completed our leadership assessment process for Citizens Advice and Recognising Excellence, to secure the Advice Quality Standard. This endorses the quality of our governance, operational and delivery standards. Our National Lottery Funded project, Yma Nawr, allowed us to open our doors to face-to-face drop-in clients in Aberystwyth, Cardigan and Lampeter, and UK Shared Prosperity Funding which underpins our new organisational engagement work has enabled us to increase our profile-raising, information and partnership work across the county. We deepened our relationship within the Citizens Advice network across Wales, and especially with our regional neighbours, Carmarthenshire, Pembrokeshire and Powys Citizens Advice, which consolidated the work required for the successful bids to Welsh Government's recommissioning of the Single Advice Fund during the year. It has been extremely reassuring to end this year in the knowledge of that significant contribution to our services for the coming 3 years.

We will continue to strengthen our operating model, formalising our remote working arrangements so that staff and volunteers have the resources and support they need to deliver high quality services, and embedding new project management procedures which will form the vital delivery foundations to the diversified funding model that will secure our financial future.

Above all, we will retain our focus on our beneficiaries - extending our reach into communities across the area, building and strengthening our relationships with partner organisations, making improvements driven by our quality assessment and feedback processes, and ensuring that clients can not only reach us in the ways most suited to them but also get the quality advice and information they need to transform their circumstances.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Charity commenced operations in 1984, incorporated in 1997, and is governed by its Memorandum and Articles of Association.

The Charity is a member of Citizens Advice, the operating name of the National Association 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 Board of Directors on an annual basis to fulfil its charitable objects and comply with the national membership requirements.

Recruitment and appointment of new trustees

The Charity is governed by a Board of Trustees. Trustees who have held office during the year are listed above. The Articles of Association provide for a minimum of three and a maximum of fifteen trustees.

Trustees are elected to the Board for a three-year period and are appointed by a resolution of its members at an AGM. Trustees retiring after a three-year period of appointment may be re- elected and appointed by a resolution of the Board's members at an AGM. The Board has powers to co-opt members who shall retire at the following AGM and may offer themselves for re-election. Co-opted trustees must not exceed one third of the total number of trustees.

Citizens Advice appoints a representative who may attend the Board as a non-voting member.

The Board is supported by two sub-committees, covering Funding and Finance, and Resources and Policy respectively.

The trustees who have served during the year are listed above. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The organisation owns an office base in Cardigan but all staff have worked remotely since March 2020, the start of the Covid-19 pandemic public health restrictions. The Board commissioned a structural survey of the property in February 2022 to inform a wider review of its future. In June 2022, in view of the significant changes to the organisation's service delivery, operations and administrative needs, the Board agreed to market the property for sale and take steps to optimise its value in line by seeking planning advice from the local authority.

Organisational structure

Ceredigion Citizens Advice is a member of Citizens Advice, the operating name of the National Association 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, and subject to annual review, by the Board of Trustees in line with its charitable objects and national membership compliance.

The CEO has been appointed by the trustees to manage the day- to-day operations of the charity. She leads an experienced team of paid staff and volunteers who are key to the services offered by the charity. Decisions are made by the Trustee Board in line with the Business Development Plan which is reviewed annually.

Since September 2022, the CEO has worked with a senior management team comprising the Operations Manager and 4 Supervisory staff to co-ordinate delivery of the charity's services and day-to-day operations. They also review project delivery progress against funder requirements and Business Plan priorities, the Charity's financial position and any other issues referred to them by the Trustee Board. Regular staff and volunteer meetings ensure communications across the whole organisation. Board meeting agendas and a contemporaneous note of the meeting are shared with the staff team on MS Teams.

Induction and training of new trustees

New trustees are briefed on their legal obligations as specified in the Charity Commission guidance and in the Memorandum and Articles of Association, the sub-groups and decision-making processes, the business plan and financial performance of the charity. Trustees are required to undertake some mandatory training in line with the organisation's quality assurance and data protection requirements. They are also encouraged to attend other external training events where these will facilitate the understanding of their role.

Trustees maintain contact with staff and volunteers via the CEO's reports to the Board (and its Sub-Groups) and receiving presentations from staff to their meetings. Trustees work alongside paid staff and volunteers at whole organisation business planning days which are generally held at the start of the financial year to review and progress aspects of the 3-year Business Plan.

Risk management

The trustees maintain a formal Risks Register and keep under review any changes in the major risks to which the organisation is exposed, in particular those related to its services and finances. The Resources and Policy sub-group oversees and amends the risk register, which is a standing item on its agenda, and receives regular risk-assessed updates from the CEO. Trustees are satisfied that systems are in place to identify and mitigate those exposures to the major risks.

Key risks and Uncertainties

During the 2024/25 financial year, the charity has settled into a new operational model of multiple advice channels. Advice is now delivered via phone, email, WhatsApp, text and, with the support of the National Lottery Community Fund, at weekly, in-person drop-in advice sessions in Aberystwyth, Cardigan and Lampeter. In-person appointments are also available at community centres in Borth, Lampeter and Penparcau. However, there were significant reductions in long term funding sources for energy advice: funding via the Warm Homes Fund ended and Citizens Advice published its new Energy Strategy which confirmed reductions in the funding available to local advice services. There was further uncertainty caused by Welsh Government's recommissioning of the Single Advice Fund (SAF) for 2025-2028, the charity's largest funding stream. Notwithstanding the success in securing the SAF for the coming three years, the trustees regard financial uncertainty as the outstanding risk factor for the charity.

A

Finance - Insufficient income within the year : securing funding continues to be a serious challenge to
financing our services, as it has for many years. Notwithstanding a balanced budget, different funders have
payment processes and terms. Many require the charity to fund services up front, only paying in arrears and
following clearance of a detailed grants claim or invoicing process. Others retain a percentage of the grant until
the project is complete. This can pose a particular challenge for the organisation's cashflow which requires
sufficient income on a regular basis to meet the monthly salaries bill.

B

Finance - Insufficient income in the longer term : The charity has reserves but is entirely reliant on
time-limited project funds. Few extend beyond 2 years so that its long term financial sustainability relies upon
securing and delivering multiple overlapping, time-defined projects that combine to deliver its priority
objectives. This necessitates a constant process of project innovation and fundraising to safeguard its future.
This is a challenge for charities across the advice sector especially, and third sector as a whole.

C

Operations - failure to deliver on funding commitments, KPIs and projects :the organisation oversees
multiple funded projects. Each has its own, unique funder requirements and key performance indicators. These
may include any or all of service delivery activities, client numbers, staff employment and/or volunteer
involvement etc. Managing and coordinating these multiple projects and funder requirements with a small
business support resource is increasingly complex but vital to its sustainability.

D

Operations - capacity of staff and volunteers to deliver services : paid staff and volunteers operate from
home, performing flexible roles to meet the requirements of multiple projects. This requires a different
approach to management and supervision to maintain motivation, engagement and productivity, safeguard
quality standards and manage expectations. Motivated, productive staff and committed volunteers are
fundamental to delivering services, meeting funder requirements and ensuring our quality assurance and
reputational standards.

E

Local need - growing demand from local people and partners : the cost-of-living pressures on local
households and communities places pressures on our local services which require managing alongside our
commitment to delivering Wales-national services. Local organisations also look to us for client referrals,
training/information support and potential strategic or delivery partners. Whilst local expectations of our
services are high, this needs constant careful management to ensure we are able to meet the rising demands and
requests whilst still operating within the finite constraints of the funded services and staff we have available.

Trustees' plans and strategies for managing these risks.

A

Finance - Insufficient income within the year : the Trustees have seen this risk in the context of the
longer-term risk (below). The CEO's quarterly reports to the Finance and Funding Sub-Group including
Management Accounts, detailing income and expenditure of every individual project, highlighting any
financial risks, and cashflow.

B

Finance - Insufficient income in the longer term : the Trustees have prioritised the need to diversify
the organisation's funding basis. The CEO provides the Board with quarterly updates of a 3-year
projection of the charity's finances, and any recommissioning opportunities.

C

Operations - failure to deliver on funding commitments, KPIs and projects: The CEO provides a
quarterly report to the Trustees on delivery across funded services and on any risks to successful delivery,
changes in anticipated income and/or capacity requirements, and funder relationships.

D

Operations - capacity of staff and volunteers to deliver services: the organisation has committed to
retaining its volunteer team and has secured Investors in Volunteers accreditation. The Business Plan
commits to being a progressive employer to ensure staff development and retention. Initiatives include:
monthly in-person meetings which support staff communications and morale; community drop-ins as a
'hub' to support volunteers; a new staff wellbeing survey and action plan to strengthen areas of weakness;
new flexible working policy; ongoing membership of the Living Wage Foundation.

E

Local need - growing demand from local people and partners : we have widened the various ways in
which clients can reach us and increased our local presence at community networks and events. We
provide talks to local groups and prioritised our social media to increase the digital availability of our
cost-of-living resources. We are a key contributor to the local Public Services Board's Tackling Poverty
Sub-Group, exploring opportunities to collaborate and add value to other local services.

Approved by order of the board of trustees on 14 July 2026 and signed on its behalf by:

S P Stratton - Trustee

Independent examiner's report to the trustees of Cyngor ar Bopeth Ceredigion Citizens Advice Bureau ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (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 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 your 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association 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 the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; 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 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.

Mr D.M.T Gould B.A (Hons), F.C.C.A

The Association of Chartered Certified Accountants

Ashmole and Co.

Williamston House

7 Goat Street

Haverfordwest

Pembrokeshire

SA61 1PX

Date: 17/06/2026

31.3.25

31.3.24

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

9,985

-

9,985

7,444

Charitable activities

4

Charitable activities

-

559,681

687,648

Investment income

3

3,068

-

3,068

3,827

Other income

76,386

-

76,386

30,516

Total

89,439

559,681

649,120

729,435

EXPENDITURE ON

Charitable activities

5

Charitable activities

45,273

342,679

387,952

354,401

Support Costs

10,122

244,282

254,404

255,563

Governance

380

10,728

11,108

10,428

Total

55,775

597,689

653,464

620,392

Net gains/(losses) on investments

(3,035

)

-

(3,035

)

1,569

NET INCOME/(EXPENDITURE)

30,629

(38,008

)

(7,379

)

110,612

Transfers between funds

16

(10,297

)

10,297

-

Net movement in funds

20,332

(27,711

)

(7,379

)

110,612

RECONCILIATION OF FUNDS

Total funds brought forward

356,503

154,571

511,074

400,462

TOTAL FUNDS CARRIED FORWARD

376,835

126,860

503,695

511,074

31.3.25

31.3.24

Unrestricted

Restricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

11

44,856

-

44,856

46,650

Investments

12

6,550

-

6,550

9,586

51,406

-

51,406

56,236

CURRENT ASSETS

Debtors

13

78,552

74,019

152,571

215,623

Cash at bank

267,649

80,310

347,959

369,316

346,201

154,329

500,530

584,939

CREDITORS

Amounts falling due within one year

14

(20,772

)

(27,469

)

(48,241

)

(130,101

)

NET CURRENT ASSETS

325,429

126,860

452,289

454,838

TOTAL ASSETS LESS CURRENT

LIABILITIES

376,835

126,860

503,695

511,074

NET ASSETS

376,835

126,860

503,695

511,074

FUNDS

16

Unrestricted funds

376,835

356,503

Restricted funds

126,860

154,571

TOTAL FUNDS

503,695

511,074

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions and delivered in accordance with special provisions applicable to small charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 14 July 2026 and were signed on its behalf by:

S P Stratton - Trustee

Cash flows from operating activities

Cash generated from operations

1

(34,577

)

(136

)

Net cash used in operating activities

(34,577

)

(136

)

Cash flows from investing activities

Decrease in investments value

3,036

-

Purchase of fixed asset investments

-

(1,569

)

Sale of tangible fixed assets

76,030

42,414

Sale of fixed asset investments

(3,035

)

1,569

Interest received

3,068

3,827

Net cash provided by investing activities

79,099

46,241

Change in cash and cash equivalents in

the reporting period

44,522

46,105

Cash and cash equivalents at the

beginning of the reporting period

2

277,003

230,898

Cash and cash equivalents at the end of

the reporting period

2

321,525

277,003

1.	RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

Net (expenditure)/income for the reporting period (as per the

Statement of Financial Activities)

(7,379

)

110,612

Adjustments for:

Depreciation charges

1,794

Losses/(gain) on investments

3,035

(1,569

)

Profit on disposal of fixed assets

(76,030

)

(30,243

)

Interest received

(3,068

)

(3,827

)

Decrease/(increase) in debtors

63,052

(97,718

)

(Decrease)/increase in creditors

(15,981

)

20,815

Net cash used in operations

(34,577

)

(136

)

2.	ANALYSIS OF CASH AND CASH EQUIVALENTS

31.3.25

31.3.24

£

Notice deposits (less than 3 months)

347,959

369,316

Overdrafts included in bank loans and overdrafts falling due within one year

(26,434

)

(92,313

)

Total cash and cash equivalents

321,525

277,003

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

Net cash

Cash at bank

369,316

(21,357

)

347,959

Bank overdrafts

(92,313

)

65,879

(26,434

)

277,003

44,522

321,525

Total

277,003

44,522

321,525

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

Donations

1,863

1,444

Grants

8,122

6,000

9,985

7,444

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

Pembrokeshire County Council

8,122

-

Aberystwyth Town Council

-

1,000

Western Power Distribution

-

5,000

8,122

6,000

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

Bank interest received

3,068

3,827

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

Grants

Charitable activities

559,681

687,648

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

Ceredigion County Council

104,767

151,806

Grants Other

256,973

266,406

Citizens Advice

65,995

198,965

Energy Savings Trust

24,869

-

National Lottery Community Fund

50,534

37,501

Pembrokeshire Citizen's Advice Bureau

6,720

5,000

Aberystwyth Town Council

-

(1,000

)

Powys Citizen's Advice Bureau

5,094

5,784

CAVO

-

23,186

Moondance

41,479

-

Scottish Association of Citizens Advice Bureaux

3,250

-

559,681

687,648

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

Charitable activities

387,952

-

387,952

Support Costs

-

254,404

Governance

-

11,108

387,952

265,512

653,464

6.	SUPPORT COSTS

Governance

Management

costs

Totals

£

Support Costs

254,404

-

254,404

Governance

-

11,108

254,404

11,108

265,512

7.	NET INCOME/(EXPENDITURE)

NET income/ (expenditure) for the year

2025

2024

£

This is stated after charging:

Depreciation

1,794

Accountancy services from the examiner

3,400

3,200

Citizens Advice for 12 months of Financial Management Support

5,760

5,400

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9.	STAFF COSTS

31.3.25

31.3.24

£

Wages and salaries

498,258

489,193

498,258

489,193

The average monthly number of employees during the year was as follows:

31.3.25

31.3.24

All Activities

18

17

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

7,444

-

7,444

Charitable activities

-

687,648

Investment income

3,827

-

3,827

Other income

30,516

-

30,516

Total

41,787

687,648

729,435

EXPENDITURE ON

Charitable activities

4,242

350,159

354,401

Support Costs

14,055

241,508

255,563

Governance

854

9,574

10,428

Total

19,151

601,241

620,392

Net gains on investments

1,569

-

1,569

NET INCOME

24,205

86,407

110,612

Transfers between funds

(18,779

)

18,779

-

Net movement in funds

5,426

105,186

110,612

RECONCILIATION OF FUNDS

Total funds brought forward

351,077

49,385

400,462

TOTAL FUNDS CARRIED FORWARD

356,503

154,571

511,074

11.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2024 and 31 March 2025

89,707

DEPRECIATION

At 1 April 2024

43,057

Charge for year

1,794

At 31 March 2025

44,851

NET BOOK VALUE

At 31 March 2025

44,856

At 31 March 2024

46,650

12.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 April 2024

9,586

Revaluations

(3,036

)

At 31 March 2025

6,550

NET BOOK VALUE

At 31 March 2025

6,550

At 31 March 2024

9,586

There were no investment assets outside the UK.

Cost or valuation at 31 March 2025 is represented by:

Listed

investments

£

Valuation in 2025

6,550

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

150,047

211,548

Prepayments

2,524

4,075

152,571

215,623

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts (see note 15)

26,434

92,313

Trade creditors

1,440

22,158

Other creditors

11,158

12,430

Accruals

9,209

3,200

48,241

130,101

15.

LOANS

Amounts showing as bank loans and overdrafts represent a timing difference between when the restricted expenditure has been incurred and the receipt of the restricted funding in the Charity's bank account. This is not an actual bank loan or overdraft, merely a timing difference.

16.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

Unrestricted funds

General fund

290,003

30,629

(10,297

)

310,335

Designated fund

66,500

-

66,500

356,503

30,629

(10,297

)

376,835

Restricted funds

Warmer Homes

1,995

34,704

-

36,699

Advicelink (SAF)

-

(8,103

)

8,103

-

Western Power Dist

1,764

(1,764

)

-

Cosy Ceredigion (ERS)

5,548

(5,548

)

-

Energy Savings Trust Vouchers

4,852

(1,000

)

-

3,852

Energy Action Plan

43,031

(25,478

)

-

17,553

WCVA-VSRF

1,439

(1,439

)

-

Moondance - Tackling Fuel Poverty

-

(1,568

)

1,568

-

CC Energy Vouchers

2,998

(2,998

)

-

Community Cohesion Small Grants

Scheme

1,166

(1,166

)

-

Welsh Government - Access to Partners

1,313

2,625

-

3,938

Citizens Advice - Energy Caseworker

21,997

(18,312

)

-

3,685

Citizens Advice - Rural Families

29,498

(30,124

)

626

-

Ceredigion County Council - CIAN

1,371

512

-

1,883

National Lottery - Yma Nawr

32,599

(16,162

)

-

16,437

Money and Pensions Service - Wellbeing

5,000

-

5,000

Citizens Advice - Carbon Monoxide

Advice Project

-

8,100

-

8,100

Energy Savings Trust - Cysyllt Connect

-

964

-

964

Citizen's Advice - Energy Outreach Project

-

20,499

-

20,499

Ceredigion County Council - support for

Carer's Cafes

-

5,000

-

5,000

Scottish Power Energy Network Fuel

Poverty Service

-

3,250

-

3,250

154,571

(38,008

)

10,297

126,860

TOTAL FUNDS

511,074

(7,379

)

-

503,695

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

89,439

(55,775

)

(3,035

)

30,629

Restricted funds

Warmer Homes

34,839

(135

)

-

34,704

Advicelink (SAF)

256,973

(265,076

)

-

(8,103

)

Western Power Dist

-

(1,764

)

-

(1,764

)

Cosy Ceredigion (ERS)

(1,060

)

(4,488

)

-

(5,548

)

Energy Savings Trust Vouchers

-

(1,000

)

-

(1,000

)

Energy Action Plan

20,852

(46,330

)

-

(25,478

)

WCVA-VSRF

-

(1,439

)

-

(1,439

)

Moondance - Tackling Fuel Poverty

41,479

(43,047

)

-

(1,568

)

CC Energy Vouchers

-

(2,998

)

-

(2,998

)

Community Cohesion Small Grants

Scheme

-

(1,166

)

-

(1,166

)

Citizens Advice - Basic Income Pilot

Scheme

5,094

(5,094

)

-

Welsh Government - Access to Partners

6,720

(4,095

)

-

2,625

Citizens Advice - Energy Caseworker

11,544

(29,856

)

-

(18,312

)

Citizens Advice - Rural Families

-

(30,124

)

-

(30,124

)

Ceredigion County Council - CIAN

69,928

(69,416

)

-

512

National Lottery - Yma Nawr

50,534

(66,696

)

-

(16,162

)

Citizens Advice - Carbon Monoxide

Advice Project

8,100

-

8,100

Energy Savings Trust - Cysyllt Connect

25,929

(24,965

)

-

964

Citizen's Advice - Energy Outreach Project

20,499

-

20,499

Ceredigion County Council - support for

Carer's Cafes

5,000

-

5,000

Scottish Power Energy Network Fuel

Poverty Service

3,250

-

3,250

559,681

(597,689

)

-

(38,008

)

TOTAL FUNDS

649,120

(653,464

)

(3,035

)

(7,379

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.4.23

in funds

funds

31.3.24

£

Unrestricted funds

General fund

284,577

24,205

(18,779

)

290,003

Designated fund

66,500

-

66,500

351,077

24,205

(18,779

)

356,503

Restricted funds

Warmer Homes

3,187

(1,192

)

-

1,995

Advicelink (SAF)

3,076

(10,887

)

7,811

-

Western Power Dist

1,764

-

1,764

Cosy Ceredigion (ERS)

-

(8,095

)

13,643

5,548

Energy Savings Trust Vouchers

4,852

-

4,852

Energy Action Plan

15,903

27,128

-

43,031

WCVA-VSRF

1,439

-

1,439

Moondance - Tackling Fuel Poverty

-

(169

)

169

-

CC Energy Vouchers

2,998

-

2,998

Community Cohesion Small Grants

Scheme

1,166

-

1,166

Citizens Advice - Cost of Living Grant

15,000

(12,291

)

(2,709

)

-

Welsh Government Winter Capacity

-

(11

)

11

-

Citizens Advice - Basic Income Pilot

Scheme

-

145

(145

)

-

Welsh Government - Access to Partners

-

1,314

(1

)

1,313

Citizens Advice - Energy Caseworker

-

21,997

-

21,997

Citizens Advice - Rural Families

-

29,498

-

29,498

Ceredigion County Council - CIAN

-

1,371

-

1,371

National Lottery - Yma Nawr

-

32,599

-

32,599

Money and Pensions Service - Wellbeing

-

5,000

-

5,000

49,385

86,407

18,779

154,571

TOTAL FUNDS

400,462

110,612

-

511,074

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

41,787

(19,151

)

1,569

24,205

Restricted funds

Warmer Homes

77,008

(78,200

)

-

(1,192

)

Advicelink (SAF)

262,275

(273,162

)

-

(10,887

)

Cosy Ceredigion (ERS)

-

(8,095

)

-

(8,095

)

Energy Action Plan

55,885

(28,757

)

-

27,128

Moondance - Tackling Fuel Poverty

41,479

(41,648

)

-

(169

)

Citizens Advice - Cost of Living Grant

-

(12,291

)

-

(12,291

)

Welsh Government Winter Capacity

10,100

(10,111

)

-

(11

)

Citizens Advice - Basic Income Pilot

Scheme

5,784

(5,639

)

-

145

Welsh Government - Access to Partners

6,563

(5,249

)

-

1,314

Citizens Advice - Energy Caseworker

34,629

(12,632

)

-

21,997

Citizens Advice - Rural Families

53,440

(23,942

)

-

29,498

Ceredigion County Council - CIAN

74,798

(73,427

)

-

1,371

National Lottery - Yma Nawr

60,687

(28,088

)

-

32,599

Money and Pensions Service - Wellbeing

5,000

-

5,000

687,648

(601,241

)

-

86,407

TOTAL FUNDS

729,435

(620,392

)

1,569

110,612

A current year 12 months and prior year 12 months combined position is as follows:

Net

Transfers

movement

between

At

At 1.4.23

in funds

funds

31.3.25

£

Unrestricted funds

General fund

284,577

54,834

(29,076

)

310,335

Designated fund

66,500

-

66,500

351,077

54,834

(29,076

)

376,835

Restricted funds

Warmer Homes

3,187

33,512

-

36,699

Advicelink (SAF)

3,076

(18,990

)

15,914

-

Western Power Dist

1,764

(1,764

)

-

Cosy Ceredigion (ERS)

-

(13,643

)

13,643

-

Energy Savings Trust Vouchers

4,852

(1,000

)

-

3,852

Energy Action Plan

15,903

1,650

-

17,553

WCVA-VSRF

1,439

(1,439

)

-

Moondance - Tackling Fuel Poverty

-

(1,737

)

1,737

-

CC Energy Vouchers

2,998

(2,998

)

-

Community Cohesion Small Grants

Scheme

1,166

(1,166

)

-

Citizens Advice - Cost of Living Grant

15,000

(12,291

)

(2,709

)

-

Welsh Government Winter Capacity

-

(11

)

11

-

Citizens Advice - Basic Income Pilot

Scheme

-

145

(145

)

-

Welsh Government - Access to Partners

-

3,939

(1

)

3,938

Citizens Advice - Energy Caseworker

-

3,685

-

3,685

Citizens Advice - Rural Families

-

(626

)

626

-

Ceredigion County Council - CIAN

-

1,883

-

1,883

National Lottery - Yma Nawr

-

16,437

-

16,437

Money and Pensions Service - Wellbeing

-

5,000

-

5,000

Citizens Advice - Carbon Monoxide

Advice Project

-

8,100

-

8,100

Energy Savings Trust - Cysyllt Connect

-

964

-

964

Citizen's Advice - Energy Outreach Project

-

20,499

-

20,499

Ceredigion County Council - support for

Carer's Cafes

-

5,000

-

5,000

Scottish Power Energy Network Fuel

Poverty Service

-

3,250

-

3,250

49,385

48,399

29,076

126,860

TOTAL FUNDS

400,462

103,233

-

503,695

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

131,226

(74,926

)

(1,466

)

54,834

Restricted funds

Warmer Homes

111,847

(78,335

)

-

33,512

Advicelink (SAF)

519,248

(538,238

)

-

(18,990

)

Western Power Dist

-

(1,764

)

-

(1,764

)

Cosy Ceredigion (ERS)

(1,060

)

(12,583

)

-

(13,643

)

Energy Savings Trust Vouchers

-

(1,000

)

-

(1,000

)

Energy Action Plan

76,737

(75,087

)

-

1,650

WCVA-VSRF

-

(1,439

)

-

(1,439

)

Moondance - Tackling Fuel Poverty

82,958

(84,695

)

-

(1,737

)

CC Energy Vouchers

-

(2,998

)

-

(2,998

)

Community Cohesion Small Grants

Scheme

-

(1,166

)

-

(1,166

)

Citizens Advice - Cost of Living Grant

-

(12,291

)

-

(12,291

)

Welsh Government Winter Capacity

10,100

(10,111

)

-

(11

)

Citizens Advice - Basic Income Pilot

Scheme

10,878

(10,733

)

-

145

Welsh Government - Access to Partners

13,283

(9,344

)

-

3,939

Citizens Advice - Energy Caseworker

46,173

(42,488

)

-

3,685

Citizens Advice - Rural Families

53,440

(54,066

)

-

(626

)

Ceredigion County Council - CIAN

144,726

(142,843

)

-

1,883

National Lottery - Yma Nawr

111,221

(94,784

)

-

16,437

Money and Pensions Service - Wellbeing

5,000

-

5,000

Citizens Advice - Carbon Monoxide

Advice Project

8,100

-

8,100

Energy Savings Trust - Cysyllt Connect

25,929

(24,965

)

-

964

Citizen's Advice - Energy Outreach Project

20,499

-

20,499

Ceredigion County Council - support for

Carer's Cafes

5,000

-

5,000

Scottish Power Energy Network Fuel

Poverty Service

3,250

-

3,250

1,247,329

(1,198,930

)

-

48,399

TOTAL FUNDS

1,378,555

(1,273,856

)

(1,466

)

103,233

17.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.