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~ CHARITY COMMISSION
17 MAR 2022
RECORDED
. RECEIVED
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Sheffield Living Waters Christian Fellowship
Unaudited Financial Statements for the year ended 31 January 2022
Charity Registration1049186 Number: ,
Sheffield Living Waters Christian Fellowship
index to the Financial Statements for the year ended 31 January 2022
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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 2022
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 $9 5HL
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The trustees
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Mr N Hamilton Mr B Coleman Mrs M Edley Mr R P Panek Mrs C Hamilton
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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.
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,
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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
BC
The objects of the trust ware 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.
Page 1
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Sheffield Living Waters Christian Fellowship
Trustees’ Annual Report for the year ended 31 January 2022
Achievements and performance
The building was closed due to Covid restrictions until April 2021.
As trustees we have been assisted by Lordsway Foundation with an audit of our current policies and prioritised our Risk Assessment of the building to ensure safe meeting during Covid 19. We enlisted the help of an outside fire security company to review and make suggestions to us in regards to our fire safety policy. We have now finalised our general data protection regulations (GDPR) covering how we collect and store data of church members and those who have contact with the church. A data privacy policy is available to view and a data privacy notice is now on our website.
The food bank reopened from April 2021 and we have been supported by new volunteers from outside of church. A new computerised system has been developed to remove the need of paper vouchers which proved difficult to administer during the pandemic and electronic vouchers reduced the need for paper and enhance confidentiality. Since April 2021 we have fed a total of 542 persons to date. We continue to work with the support of the Rock Christian Centre through food bank and anticipate that there will be an increasing demand for this service by our local residents due to higher utility bills and the end of Universal Credit additional payments during the pandemic in 2021.
We have continued to meet with some of the local independent church leaders as part of an urban mission and we are exploring how we can further reach out to share our faith and help bless our communities in a practical way. One suggestion is to become a welcome church which receives and supports new arrivals in our area. We are still working with Meadowhead Christian Fellowship. Their pastor continues to offer me mentoring support upon request. One of their leaders is still a church trustee and helped co-ordinate a mid-week group.
The local church army evangelists continue to work with us and have run a faith sharing course which was hosted at Living waters and attended by church members and some from other places serving the local community.
Gifts to other groups by Living Waters
In 2021 the church trustees have continued our gifting to Galeed House, a local charity working to develop friendship amongst Muslims in our area, Care for The Family supporting families in the U.K and Open Doors who are supporting persecuted Christians worldwide. In addition to this we have also given a gift to the local Church Evangelist and Roundabout who work with the homeless in the U.K.
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Sheffield Living Waters Christian Fellowship
Trustees’ Annual Report for the year ended 31 January 2022
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 Bos. Celera thctcsc AN ERB Roose 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 2022
! 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 2022.
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:
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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 concerning 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.
_ K Davis BFP FCA Independent Examiner
Mayfield Business Services Ltd.
3 Crimicar Lane Sheffield S10 4FA
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_
Date: / [ /_s / [ZOoZe]
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Sheffield Living Waters Christian Fellowship
Statement of Financial Activities
for the year ended 31 January 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||
| funds | funds | funds | |||
| Note | £ | £ | £ | ||
| income and endowments | |||||
| Donations and legacies | 4 | 25,646 | 25,646 | 24,147 | |
| investment income | 5 | 320 | 320 | - | |
| Grants receivable | 6 | 2,283 | 2,283 | 9,249 | |
| Total income | 28,249 | 28,249 | 33,396 | ||
| Expenditure | . | ) | |||
| Expenditure on charitable activities | 7,8 | 28,702 | 28,702 | 24,476 | |
| Total expenditure | 28,702 | 28,702 | 24,476 | ||
| Netincome /(expenditure) | (453) | (453) | 8,920 | ||
| Reconciliation offunds | |||||
| Total funds broughtforward | 160,626 | 160,626 | 151,706 | ||
| Totalfundscarriedforward | 160,173 | 160,173 | 160,626 |
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 2022
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|---|---|---|---|---|---|---|---|---|
|31|January|2022|31|January|2021|
|;|Note|£|£|£|£|
|Fixed|assets|
|Tangible|fixed|assets|12|102,320|104,051|
|Current|assets|
|Debtors|13|3,753|3,984|
|Cash|at|bank|and|in|hand|§5,126|§3,617|
|58,879|57,601|
|Creditors|
|Amounts|falling|due|within|one|year|14|(1,026)|(1,026)|
|Net current assets|57,853|56,575|
|Total|assets|less|current|liabilities|160,173|160,626|
|Net assets|160,173|160,626|
|Funds|of the|charity|
|Unrestricted|funds|160,173|160,626|
|Total|charity funds|15|160,173|160,626|
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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:
TrusteeMr B Coleman B G 2.
Date: {] -0O23-22_
The notes on pages 7 to 11 form part of these financial statements.
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General information
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Accounting policies
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. Sheffield Living Waters Christian Fellowshi Notes to the Financial Statements for the year ended 31 January 2022
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 5HL.
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 Charities Act 2011.
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 returned 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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Sheffield Living Waters Christian Fellowship Notes to the Financial Statements for the year ended 31 January 2022
- 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 | | impairment of fixed assets | A review for indicators of impairment is cared 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. | 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 2022
4. Donations and legacies
| Unrestricted | Total | Unrestricted | Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| 2022 | 2021 | |||
| £ | £ | £ | £ | |
| Donations | ||||
| Giftsand offerings | 25,646 | 25,646 | 24,147 | 24,147 |
| ST | ||||
| Investment income | ||||
| Unrestricted | Total | Unrestricted | Total | |
| Funds | Funds | Funds | Funds | |
| 2022 | 2021 | |||
| £ | £ | £ | £ | |
| Rentalincome | 320 | 320 | - | - |
5. Investment income
6. Grants receivable
| Unrestricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2022 | 2021 | ||||
| £ | £ | £ | £ | ||
| Government | grants | 2,283 | 2,283 | 9,249 | 9,249 |
7. Expenditure on charitable activities by fund type
| Unrestricted | Total | Unrestricted | Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2022 | 2021 | ||||
| £ | £ | £ | £ | ||
| Direct charitable activities | 28,226 | 28,226 | 24,001 | 24,001 | |
| Support costs | 475 | 476 | 475 | 475 | ; |
| 28,701 | 28,701 | 24,476 | 24,476 | ||
| Expenditure on charitable activities by activitytype | |||||
| Activities | Support | Total | Total | ||
| undertaken | costs | funds 2022 |
Funds 2021 |
||
| £ | £ | £ | £ | ||
| Directcharitable activities | 28,226 | 475 | 28,701 | 24,476 | |
| 28,226 | 475 | 28,701 | 24,476 |
8. Expenditure on charitable activities by activity type
Page 9
Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2022
9. Net expenditure
Net expenditure is stated after charging / (crediting):
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation oftangible fixed assets | 1,709 | 1,801 | |
| Loss on disposal oftangible fixed assets | 22 | - | |
| 10. | Independentexamination fees | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fees payable to the independent examinerforthe | |||
| independent examination ofthe financial statements | 475 | 475 | |
| 11. | Staffcosts- |
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Remuneration | 17,116 | 16,853 |
The average head count of employees during the year was 1 (2021: 1)
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
12. Tangible fixed assets
| Land | Fixtures | |||
|---|---|---|---|---|
| and | and | Equipment | ||
| buildings | fittings | Total | ||
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 February2021 Additions Disposals |
124,682 - - |
22,233 - (711) |
9,023 - - |
155,938 - (711) |
| At 31 January 2022 | 124,682 | 21,522 | 9,023 | 155,227 |
| Depreciation | ||||
| At1February2021 | 24,487 | 21,496 | 5,904 | §1,887 |
| Disposals | - | (689) | - | (689) |
| Charge forthe year | 1,247 | 150 | 312 | 1,709 |
| At 31 January2022 | 25,734 | 20,957 | 6,216 | 52,907 |
| EEE | ||||
| Carrying amount | ||||
| At31 January 2022 | 98,948 | 565 | 2,807 | 102,320 |
| ————————————le | ||||
| At31January2021 | 100,195 | 737 | 3,119 | 104,051 |
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Sheffield Living Waters Christian Fellowship
;
Notes to the Financial Statements for the year ended 31 January 2022
13. Debtors
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|---|---|---|---|---|---|---|---|
|2022|2021|
|£|£|
|Income|tax|recoverable|under|gift|aid|3,753|3,984|
|14.|Creditors:|amounts|falling|due within|one|year|
|2022|2021|
|£|£|
|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|
|2021|Income|Expenditure|losses|2022|
|£|£|£|£|£|
|General|funds|160,626|28,249|(28,702)|-|160,173|
|At|At|
|1|February|Gains and|=|31|January|
|2020|Income|Expenditure|losses|2021|
|£|£|£|£|£|
|General|funds|151,706|33,396|(24,476)|-|160,626|
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16. Analysis of net assets between funds
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||||||||
|---|---|---|---|---|---|---|
|Unrestricted|Total|Funds|
|Funds|2022:|
|,|£|£|
|Tangible|fixed|assets|102,320|102,320|
|Current|assets|§8,879|58,879|
|Creditors|less|than|1|year|(1,026)|(1,026)|
|Net|assets|160,173|160,173|
|Unrestricted|Total|Funds|
|Funds|2021|
|£|£|
|Tangible|fixed|assets|104,051|104,051|
|Current|assets|57,601|57,601|
|Creditors|fess than|1|year|(1,026)|(1,026)|
|Net assets|160,626|160,626|
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Sheffield Living Waters Christian Fellowship
Detailed Statement of Financia! Activities
Year ended 31 January 2022
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||||||||
|---|---|---|---|---|---|---|
|2022|2021|
|£|£|£|£|
|Income|and|endowments|
|Donations|and|legacies|
|Gifts and|offerings|25,646|24,147|
|Investment|income|
|Rental|income|320|-|
|Grants|receivable|
|Government|grants|2,283|9,249|
|Total|income|28,249|33,396|
|Expenditure|;|
|Expenditure|on|charitable|activities|
|Wages|and|salaries|16,377|16,730|
|Employer's|pension|costs|739|123|
|Rates|and|water|255|255|
|Light and|heat|1,944|813|
|Repairs|and|maintenance|1,607|1,359|
|Insurance|716|696|
|Establishment|costs|1,935|1,274|
|Legal|and|professional|fees|475|475|
|Depreciation|1,709|1,801|
|Loss|on|disposal|of fixed|assets|22|-|
|Tithes|and|direct|giving|2,314|640|
|Worship|and|pastoral|activity|609|310|
|Total|expenditure|28,702|24,476|
|Net (expenditure)|/ income|(453)|8,920|
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Sheffield Living Waters Christian Fellowship
Notes to the Detailed Statement of Financial Activities Year ended 31 January 2022
.
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Activities undertaken directly | ||
| Wages and salaries | 16,377 | 16,730 |
| Employer's pension costs | 739 | 123 |
| Rates and water | 255 | 255 |
| Lightand heat | 1,944 | 813 |
| Repairs and maintenance | 1,607 | 1,359 |
| Insurance | 716 | 696 |
| Establishment costs | 1,935 | 1,274 |
| Depreciation | 1,709 | 1,801 |
| Loss on disposal offixed assets | 22 | - |
| Tithes and direct giving | 2,314 | 640 |
| Worship and pastoral activity | 609 | 310 |
| 28,227 | 24,001 | |
| Additional charitable activities | ||
| Governance costs - accountancy fees | 475 | 475 |
| Expenditureoncharitableactivities | 28,702 | 24,476 |
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