:
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{CHARITY COM ESION |
FIRST CONTACT
RECORDED
“ RECEIVED i
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,
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Sheffield Living Waters Christian Fellowship
Unaudited Financial Statements for the year ended 31 January 2021
Charity Registration Number: 1049186
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° Sheffield Living Waters Christian Fellowship
Index to the Financial Statements for the year ended 31 January 2021
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|Page|
|Trustees’|annual|report|1|
|independent|examiner's|report to the|trustees|.|4|
|Statement|of financial|activities|5|
|Statement|of financial|position|6|
|Notes|to|the|financial|statements|7|
|The|following|pages do|not form|part of the|financial|statements|
|Detailed|statement|of financial|activities|12|
|Notes|to|the|detailed|statement|of financial|activities|13|
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Sheffield Living Waters Christian Fellowship
Trustees’ Annual Report for the year ended 31 January 2021
Reference and administrative details
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Registered charity name
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Sheffield Living Waters Christian Fellowship
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Charity registration number
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Principal office
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1049186 81 Main Road Darnall Sheffield S9 SHL
The trustees
Mr N Hamilton Mr B Coleman Mrs M Edley Mr R P Panek (appointed 5th December 2020) Mrs C Hamilton (appointed 5th December 2020)
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independent examiner
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K Davis BFP FCA 3 Crimicar Lane Sheffield $10 4FA
Structure, governance and management
Management structure
The church is led by a team of elders and other workers taking responsibility for the different aspects of the work. The trustees are responsible for overseeing the general work of the charity. Membership of the charity is open to any individual or corporate body who are interested in furthering the work of the charity. When necessary the charity will recruit and appoint trustees in accordance with its constitution. The trustees have given due regard to guidance published by the Charity Commission in respect of public benefit when fulfilling the objectives of the charity.
Risk analysis
The trustees have identified the principal risks to the charity as thiose associated with health and safety and property maintenance. The trustees are satisfied with the financial position of the trust.
Constitution
The constitution is set out in the trust deed of the charity dated 22 June 1995.
Objectives and activities
Objects
The objects of the trust Yare to advance the gospel of Jesus Christ and the beliefs and practices of the Christian faith consistently with the doctrines and articles of belief set out in the schedule of the trust deed and to promote such other charitable purposes as the trustees in their absolute discretion think fit.
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Sheffield Living Waters Christian Fellowship
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Trustees’ Annual Report for the year ended 31 January 2021
Achievements and performance
Our three existing trustees (Neil Hamilton, Mary Edley and Brian Coleman) have continued to administer the needs of the charity. There has been the addition of two further persons this year. These are Christine Hamilton and Roland Panek.
We have looked at our current policies and procedures and have created a data protection policy in response to current legislation. We have also looked at how we collect and store data of members and those in contact with us. We have also updated our safeguarding policy to ensure safe practices for everyone, especially any vulnerable members of the church.
Early in 2020 we met with the local council for our building to be a recognised place of welcome to offer nondiscriminatory support for local residents as part of a group of neighbourhood hubs. There has been no further progression with this due to the Coronavirus outbreak.
Our main activity in supporting the local community has been the Food Bank but due to the lockdown restrictions we closed our doors in March and moved to home deliveries only. We have been grateful for the assistance of two volunteers from Church Army who as a married couple have been able to go out in the same vehicle and do these deliveries on our behalf without breaking covid guidelines. This delivery service will continue until we can safely reopen our centre again. The Pandemic has had a big impact on the Food Bank and the demand for food in our area has increased by 74% compared to last year. We have supplied 483 food parcels compared to 278 the previous year which has fed a total of 1,239 people during the past year’s crisis.
Our pastor has continued to meet on-line with some of the local independent church leaders as part of an urban mission to explore how we can further reach out to share our faith and help bless our communities in a practical way. One initiative which was discussed is to be funded to provide support for people with issues including debt, benefits and general advice. This will be run across 3 church sites and will be working with the Edge Ministries team based in Chesterfield.
We are still working with Meadowhead Christian Fellowship and joined with them for on-line services during and beyond lockdown. Their pastor continues to offer our pastor mentoring support each month and, upon request, and before the outbreak of Covid 19 provided our church with both speakers and worship musicians. One of their leaders has now joined our church as a trustee and helps co-ordinate our on-line group which meets mid-week virtually using Messenger.
Because of the outbreak of Covid 19 our church has not meet regularly since February 2020.
Necessary maintenance of our building meant that our roof needed attention and some internal repairs were made with agreement of the trustees.
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Sheffield Living Waters Christian Fellowship
Trustees' Annual Report for the year ended 31 January 2021
Financial review
Funds have been received completely from free will offerings donated by members and visitors together with income tax recovered under HMRC gift aid provisions and further HMRC government grants received during the year.
The policy of the charity is to utilise its resources to further the objects of the trust and not therefore to establish large reserves. It is the objective of the trustees to maintain sufficient unrestricted reserves to cover six months of general expenditure in the normal course of events.
The charity does not seek to maintain investments and has repaid the loan outstanding on its freehold property.
The trustees’ annual report was approved on AEyah Maceh..202) and signed on behalf of the board of trustees by:
Mr B Coleman Trustee
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Sheffield Living Waters Christian Fellowship
Independent Examiner's Report to the Trustees of Sheffield Living Waters Christian Fellowship for the year ended 31 January 2021 ,
| report to the trustees on my examination of the financial statements of Sheffield Living Waters Christian Fellowship (‘the charity’) for the year ended 31 January 2021.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the appicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| 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.
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|
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K Davis BFP FCA independent Examiner
Mayfield Business Services Ltd.
3 Crimicar Lane Sheffield $10 4FA
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Date: [a2 /3/ RDA |
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Sheffield Living Waters Christian Fellowship
} | | | | |
Statement of Financial Activities
for the year ended 31 January 2021
)
‘
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| funds | funds | funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | 24,147 | 24,147 | 25,053 |
| Investment income | 5 | - | - | 2,784 |
| Grants receivable | 6 | 9,249 | 9,249 | - |
| Total income | 33,396 | 33,396 | 27,837 | |
| Expenditure | ||||
| Expenditure on charitable activities | 7,8 | 24,476 | 24,476 | 26,608 |
| Total expenditure | 24,476 | 24,476 | 26,608 | |
| Net income / (expenditure) | 8,920 | 8,920 | 1,229 | |
| Reconciliation offunds | ||||
| Total funds brought forward | 151,706 | 151,706 | 150,477 | |
| aS TS | — | |||
| Totalfundscarriedforward | 160,626 | 160,626 | 151,706 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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Sheffield Living Waters Christian Fellowship
Statementof Financial Position as at 31 January 2021
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|---|---|---|---|---|---|---|---|---|
|31|January|2021|31|January 2020|
|Note|£|£|£|£|
|Fixed|assets|
|Tangible|fixed|assets|12|104,051|105,362|
|Current|assets|
|Debtors|13|3,984|3,785|
|Cash|at|bank|and|in|hand|§3,617|43,585|
|57,601|47,370|
|Creditors|
|Amounts|falling|due|within|one|year|14|(1,026)|(1,026)|
|Net|current|assets|56,575|46,344|
|Total|assets|less|current|liabilities|160,626|151,706|
|Net assets|160,626|151,706|
|Funds|of the|charity|
|Unrestricted|funds|160,626|151,706|
|Total|charity funds|15|160,626|151,706|
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These financial statements were approved by the board of trustees and authorised for issue, and are signed on behalf of the board by:
Mr B Coleman Trustee
Date: (2°. March 202!
| | | | | |
The notes on pages 7 to 11 form part of these financial statements.
;
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Sheffield Living Waters Christian Fellowship
. Notes to the Financial Statements for the year ended 31 January 2021
- General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 81 Main Road, Darnall, Sheffield, S9 SHL.
- 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 Charities Act 2011.
| : :
- 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
There are no material uncertainties about the charity's ability to continue.
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 projects or commitments.
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.
Incoming resources
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 that the amount can be reliably measured. The following specific policies are applied to particular categories of income:
(a) income from donations is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
(b) legacy or grant income is recognised when receipt is probable and entitlement is established.
(c) 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.
(d) 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 retumed if unspent, in which case it may be regarded as restricted.
Resources expended Expenditure is recognised on an accruals basis asa 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:
(a) expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
(b) 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.
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Sheffieid Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2021
3. Accounting policies (continued)
Resources expended (continued)
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
All fixed assets are initially recorded at cost.
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: Land and buildings 1% straight line Fixtures and fittings 25% reducing balance Equipment 10% reducing balance
tmpairment 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 reversa! at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2021
4. Donations and legacies
| Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2021 | 2020 | |||
| £ | £ | £ | £ | |
| Donations | ||||
| Gifts and offerings | 24,147 | 24,147 | 25,053 | 25,053 |
| ———————————————————————————————o—EeeeIyC~——___Z_Z—_~— |
5, Investment income
| Unrestricted | Total | Unrestricted | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||
| 2021 | 2020 | |||||
| £ | £ | £ | £ | |||
| Rental | income | , | - | - | 2,784 | 2,784 |
6. Grants receivable
| Unrestricted | Total | Unrestricted | —-Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2021 | 2020 | |||
| £ | £ | £ | £ | |
| Governmentgrants | 9,249 9,249 - - ——————————————eeS |
7. Expenditure on charitable activities by fund type
| Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2021 | 2020 | |||
| £ | £ | £ | £ | |
| Direct charitable activities | 24,001 | 24,001 | 26,133 | 26,133 |
| Support costs | 475 | 475 | 475 | 475 |
| 24,476 | 24,476 | 26,608 | 26,608 |
8. Expenditure on charitable activities by activity type
| Activities | Support | Total | Total | |||
|---|---|---|---|---|---|---|
| undertaken | costs | funds | Funds | |||
| 2021 | 2020 | |||||
| £ | £ | £ | £ | |||
| Direct | charitable | activities | 24,001 _— |
475 | 24,476 | 26,133 |
| 24,001 | 475 | 24,476 | 26,133 |
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Page 9
Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2020
9. Net expenditure
Net expenditure is stated after charging / (crediting):
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|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Depreciation|of tangible|fixed|assets|1,801|1,855|
|10.|Independent|examination|fees|
|2021|2020|
|£|£|
|Fees|payable|to the|independent|examiner|for the|
|independent|examination|of the|financial|statements|475|475|
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11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Remuneration|16,853|16,800|
|The|average|head|count|of employees employees|during|the|year was was|1|(2020:|1)|
|No|employee|received|employee|benefits|of more|than|£60,000|during|the|year|(2020:|Nil).|
|.|
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The average head count of employees employees during the year was was 1 (2020: 1)
12. Tangible fixed assets
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|---|---|---|---|---|---|---|---|
|Land|Fixtures|
|and|and|Equipment|
|buildings|fittings|Total|
|£|£|£|£|
|Cost|
|At|1|February|2020|124,682|22,233|8,533|155,448|
|Additions|-|-|490|490|
|At 31|January|2021|124,682|22,233|9,023|155,938|
|Depreciation|
|At|1|February|2020|23,240|21,289|5,557|50,086|
|Charge|for the|year|1,247|207|347|1,801|
|At|31|January|2021|24,487|21,496|5,904|51,887|
|Carrying|amount|
|At|31|January|2021|100,195|737|3,119|104,051|
|At 31|January 2020|101,442|944|2,976|105,362|
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Sheffield Living Waters Christian Fellowship
,
Notes to the Financial Statements for the year ended 31 January 2021
13. Debtors
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|---|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Income|tax|recoverable|under|gift|aid|3,984|3,785|
|14.|Creditors:|amounts|falling|due|within|one year|
|2021|2020|
|£|£|
|Accruals|and|deferred|income|1,026|1,026|
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|---|---|---|---|---|---|---|---|
|15.|Analysis|of charitable|funds|
|At|At|
|Unrestricted|funds|1|February|Gains|and|31|January|
|2020|income|Expenditure|losses|2021|
|£|£|£|£|£|
|General|funds|151,706|33,396|(24,476)|-|160,626|
|At|At|
|1|February|Gains and|=|31|January|
|2019|Income|Expenditure|losses|2020|
|£|£|£|£|£|
|General|funds|150,477|27,837|(26,608)|-|151,706|
|16.|Analysis|of net assets|between|funds|
|Unrestricted|Total|Funds|
|Funds|2021|
|£|£|
|Tangible|fixed|assets|104,051|104,051|
|Current|assets|57,601|57,601|
|Creditors|less|than|1|year|(1,026)|(1,026)|
|Net assets|160,626|160,626|
|Unrestricted|Total|Funds|
|Funds|2020|
|£|£|
|Tangible|fixed|assets|105,362|105,362|
|Current|assets|47,370|47,370|
|Creditors|less|than|1|year|(1,026)|(1,026)|
|Net assets|151,706|151,706|
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Sheffield Living Waters Christian Fellowship :
Detailed Statement of Financial Activities Year ended 31 January 2021
|||2021|2020|
|---|---|---|
||
£
£
£
£|||
||
Income and endowments|||
|Donations and legacies|||
|Gifts and offerings|24,147|25,053|
|investment income|||
|Rental income|-|2,784|
|Grants receivable|||
|Governmentgrants|9,249|-|
|Total income|33,396|27,837|
|Expenditure|||
|Expenditureon charitable activities|||
|Wages and salaries|16,730|16,800|
|Employer's pension costs|123|-|
|Rates and water|255|204|
|Light and heat|813|2,380|
|Repairs and maintenance|1,359|205|
|Insurance|696|726|
|Establishment costs|1,274|1,141|
|Legal and professional fees|475|475|
|Depreciation|1,801|1,855|
|Tithesand directgiving|640|1,799|
|Worship and pastorai activity|310|1,023|
|Total expenditure|24,476|26,608|
|Netincome|8,920|1,229|
Page 12
Sheffield Living Waters Christian Fellowship Notes to the Detailed Statement of Financial Activities Year ended 31 January 2021
|
|
| 2021 | 2020 | ||
|---|---|---|---|
£ £ |
|||
Expenditure on charitable activities |
|||
| Activities undertaken directly | |||
| Wages and salaries | 16,730 | ||
| Employer's pension costs | 123 | - | |
| Rates and water | 255 | 204 | |
| Light and heat | 813 | 2,380 | |
| Repairs and maintenance | 1,359 | 205 | |
| Insurance | 696 | 726 | |
| Establishment costs | 1,274 | 1,141 | |
| Depreciation | 1,801 | 1,855 | |
| Tithes and direct giving | 640 | 1,799 | |
| Worship and pastoral activity | 310 | 4,023 | |
| : | 24,001 | 26,133 | |
| Additional charitable activities | |||
| Governance costs - accountancy fees | 475 | 475 | |
| Expenditureoncharitableactivities | 24,476 | 26,608 |
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