Sheffield Living Waters Christian Fellowship
Unaudited Financial Statements
for the year ended 31 January 2023
a
----- Start of picture text -----
CHARITY COMMISSION |
FIRST CONTACT
|
2.7 APR 2023
ACCOUNTS
, RECEIVED ~~~f=
----- End of picture text -----
Charity Registration Number: 1049186
,
Sheffield Living Waters Christian Fellowship
Index to the Financial Statements for the year ended 31 January 2023
----- Start of picture text -----
Page
Trustees’ annual report a 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
~=2-___ Notes to the detailed statement of financial activities. 9
----- End of picture text -----
’ i
Sheffield Living Waters Christian Fellowship
Trustees’ Annual Report for the year ended 31 January 2023
Reference and administrative details
a
Registered charity name
Sheffield Living Waters Christian Fellowship
Charity registration number 1049186 Principal office 81 Main Road ; Darnall - : Sheffield $9 5HL
The trustees
Mr N Hamilton Mr B Coleman Mrs M Edley Mr R P Panek Mrs C Hamilton
Independent examiner
K Davis BFP FCA 3 Crimicar Lane Sheffield $10 4FA
Structure, governance and management
Management structure
|
SO ee
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. Whentrusteesnecessaryhave giventheduecharityregardwill torecruit guidance and appointpublished trusteesby theinCharityaccordance Commissionwith its inconstitution. respect The a ; benefitwhen fulfilling the objectives.of. the.charity. -—....-~.-~Se eRof public TES. woo cue oO Oo ON
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 vare 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
=. ._____---
‘ Sheffield Living Waters Christian Fellowshi
Trustees’ Annual Report for the year ended 31 January 2023
Achievements and performance
Our existing trustees (Neil Hamilton, Mary Edley, Christine Hamilton, Roland Panek and Brian Coleman) have continued to administer the needs of the charity.
We have looked at our current policies and procedures including a full risk assessment of our building and the activities carried out there. As part of this a number of suggested improvements, a full fire safety report has been actioned. We have also implemented a new financial controls and charitable giving policy. Our gifting policy has continued this year making our regular donations to support organisations who we are associated with. Our main activity in supporting the local community has been the foodbank which has seen an increased demand for people in crisis. However, in 2022 we have also started a neighbourhood café which is run with help from our neighbours for the benefit of the community. This has been recognised by the local area council who have supplied some funding to assist with the running of a warm space of welcome throughout the winter months. Along with these activities we host a monthly dementia friendly safe space called Making Memories which is ran with the assistance of a local partner, Darnall Well-Being.
We are still working with the support of other churches including Rock Christian Centre who provide support for us to be a local distribution centre for their foodbank. We are in good relationship with Meadowhead Christian Fellowship who help us as required with worship and speakers for our Sunday services and one of our trustees Roland is a member of their church. We work with Handsworth Methodist who provide safeguarding training and DBS checks for our volunteers who work on the Open the Book activity which takes Bible stories into schools. This year a new team has been developed with some of our church members to continue this work in schools in our locality.
Page 2
Sheffield Living Waters Christian Fellowship
Trustees' Annual Report for the year ended 31 January 2023
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 toestablishcover sixlargemonthsreserves.of generalIt is theexpenditureobjective ofin thethetrusteesnormal courseto maintainof events.sufficient unrestrictedi reserves : _ __
The charity does not seek to maintain investments and has repaid the loan outstanding on its freehold property.
----- Start of picture text -----
|
----- End of picture text -----
The trustees’ annual report was approved on... G6. O42 ccccecsscsssssesessessesessssstesesansessens and signed on behalf of the board of trustees by:
Mr B Coleman Trustee
Page 3
rr
Sheffield Living Waters Christian Fellowship
Independent Examiner's Report to the Trustees of Sheffield Living Waters Christian Fellowship for the year ended 31 January 2023
| 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 2023.
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) ofthe 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
-
the financial statements do not accord with those records; or
-
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 givea ‘true and fair view which is not a matter considered as part of an independent examination. .
! have no concems 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
----- Start of picture text -----
oo _Independent Examiner woe - Sa ee
Mayfield Business Services ltd a ae Date) |
"3 Crimicar Lane oe 4.[22=
Sheffield
$10 4FA
----- End of picture text -----
----- Start of picture text -----
;
----- End of picture text -----
----- Start of picture text -----
-
----- End of picture text -----
Page 4
Sheffield Living Waters Christian Fellowship
Statement of Financial Activities
for the year ended 31 January 2023
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|Unrestricted|Total|Total|
|funds|funds|funds|
|Note|£|£|£|
|Income and|endowments|
|Donations|and|legacies|4|29,141|29,141|25,646|
|Investment|income|5|780|780|320|||
|Grants|receivable|6|1,600|1,600|2,283|
|Total|income|31,521|31,521|28,249|
|Expenditure|
|Expenditure|on|charitable|activities|7,8|31,170|31,170|28,702|
|Total|expenditure|31,170|31,170|28,702|
|Net|income|/|(expenditure)|351|351|(453)|
|.>|Reconciliation|of funds|nn|
||
|“cry|Total funds brought forward: (0°|[160,173]|160,173|160,626|
|....|Total funds|carried forward...ee|160,524|-160,524-—160-473-——___—|
----- End of picture text -----
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
:
Page 5
Sheffield Living Waters Christian Fellowship
Statement of Financial Position
as at 31 January 2023
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|31|January|2023|31|January 2022|
|Note|£|£|£|£|
|Fixed|assets|
|Tangible fixed|assets|12|100,483|102,320|
|___..Current assets|——.|,|—|
|_|
|Debtors|13|4,700|3,753|
|Cash|at bank and|in|hand|56,367|55,126|
|61,067|58,879|
|Creditors|
|Amounts|falling|due|within|one|year|14|(1,026)|(1,026)|
|Net current assets|60,041|57,853|
|Total|assets|less|current|liabilities|160,524|460,173|
|Net assets|160,524|160,173|
|Funds|of the|charity|
|Unrestricted|funds|160,524|160,173|
|Total|charity funds|15|160,524|160,173|
----- End of picture text -----
These financial statements were approved by the board of trustees and authorised for issue, and are signed on behalf of the board by:
ee
a
BrowCa — O68-04.28 Mr B Coleman Date: Trustee
The notes on pages 7 to 11 form part of these financial statements.
Page 6
,
——_
Sheffield Living Waters Christian Fellowship
,
Notes to the Financial Statements for the year ended 31 January 2023
- 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.
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 treland (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. ee eneaneeee (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 __ ee reliably, in which.case the value is derived from the cost to the donor or the estimated-resale-value-Donated-——-__——to measure 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 as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
(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.
Page 7
,
.
‘
:
Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2023
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
TT
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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 anyrelated == st! TO transaction costs. . . oe nian = Current assets.and.current liabilities are.subsequently-measured.at-the cash or other[consideration-expected-to————_———!] pe be paid or received and not discounted. se FSAE a ——-——-——-———-Debt instrumentsare subsequently measured at amortised cost. OT
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 retationship.
Page 8
:
Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements for the year ended 31 January 2023
4. Donations and legacies
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Unrestricted|Total|Unrestricted|Total|
|Funds|Funds|Funds|Funds|
|2023|2022|
|£|£|£|£|
|Donations|
|Gifts and|offerings|29,141|29,141|25,646|25,646|
|Investment|income|~|
|Unrestricted|Total|Unrestricted|Total|
|Funds|Funds|Funds|Funds|
|2023|2022|
|£|£|£|£|
|Rental|income|780|780|320|320|
----- End of picture text -----
5. Investment income
—
6. Grants receivable
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|Unrestricted|Total|Unrestricted|Total|
|Funds|Funds|Funds|Funds|
|2023|2022|
|£|£|£|£|
|Government and other|grants|1,600|1,600|2,283|2,283|
----- End of picture text -----
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|7.|€xpenditure on|charitable|activities|by fund|type|
|ce|Unrestricted|Total|Unrestricted|~Totaly|=|7|
|ce|Funds.-Funds..ee|.|--.Funds.--.----Funds|—————|==|
|__||
|=|a a|DIDS|———|[2022-7]|
|Direct|charitable|activities|30,695|30,695|28,226|28,226|
|Support|costs|475|476|475|475|
|31,170|31,170|28,701|28,701|
----- End of picture text -----
8. Expenditure on charitable activities by activity type
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|Activities|Support|Total|Total|
|undertaken|costs|funds|Funds|
|2023|2022|
|£|£|£|£|
|Direct|charitable|activities|30,695|475|31,170|28,701|
|30,695|475|31,170|28,701|
----- End of picture text -----
Page 9
Sheffield Living Waters Christian Fellowship
——
Notes to the Financial Statements for the year ended 31 January 2023
9. Net expenditure
Net expenditure is stated after charging / (crediting): °
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|2023|2022|
|£|£|
|Depreciation|of tangible|fixed|assets|1,612|1,709|
|Loss|on|disposal|of tangible|fixed|assets|224|22|
|10.|-|Independent examination fees|-_|
|2023|2022|
|£|£|
|Fees|payable|to|the|independent|examiner|for the|
|independent|examination|of the|financial|statements|475|475|
----- End of picture text -----
.
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Remuneration|17,216|17,116|
----- End of picture text -----
The average head count of emptoyees during the year was 1 (2022: 1) No employee received employee benefits of more than £60,000 during the year (2022: Nil).
12. Tangible fixed assets
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Land|Fixtures|
|and|and|Equipment|
|buildings|fittings|Total|
|.|At1February2022°|= =|124,682|21,522|9,023|155,227|
|ee|ee|Additions|--—-|——————|
|Disposals|-|(10,832)|-|(10,832)|
|At|31|January|2023|124,682|40,690|9,023|144,395|
|Depreciation|
|At|1|February 2022|25,734|20,957|6,216|52,907|
|Disposals|-|(10,608)|-|(10,608)|
|Charge|for the|year|1,247|85|281|1,613|
|At 31|January 2023|26,981|10,434|6,497|43,912|
|Carrying|amount|
|At|31|January|2023|97,701|256|2,526|100,483|
|At|31|January 2022|98,948|565|2,807|102,320|
----- End of picture text -----
.
Page 10
°
|
Sheffield Living Waters Christian Fellowship
Notes to the Financial Statements
for the year ended 31 January 2023
13. Debtors
/
.
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Incometax recoverable under gift aid | 4,483 | 3,753 | ||||
| Other debtors | 217 | - | ||||
| 4,700 | 3,753 | |||||
| 14. | Creditors: amounts falling duewithin one year | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Accruals and deferred income | 1,026 | 1,026 | ||||
| 15. | Analysis ofcharitable funds | |||||
| At | At | |||||
| Unrestricted funds | 1 February | Gainsand | 31 January | |||
| 2022 | income | Expenditure | losses | 2023 | ||
| £ | £ | £ | gE | £ | ||
| General funds | 160,173 | 31,521 | (31,170) | - | 160,524 | |
| At | At | |||||
| 1 February | Gains and | 31 January | ||||
| 2021 | Income | Expenditure | losses | 2022 | ||
| £ | £ | £ | £ | £ | ||
| Generalfunds | 160,626 | 28,249 | (28,702) | - | 160,173 |
| 16. | Analysis of netassetsbetweenfunds | funds | funds | nee | nee | nee | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| peer | eeeEe : 7 - |
Unrestricted—Total Funds—————— Funds 2023 |
||||||||
| ee | eee | . | woe ee |
a | _ | wee | neei a | |||
| Tangible fixed assets | 100,483 | 100,483 | ||||||||
| Current assets | 61,067 | 61,067 | ||||||||
| Creditors lessthan 1 year | , | (1,026) | (1,026) | |||||||
| Netassets | 160,524 | 160,524 | ||||||||
| Unrestricted | Total Funds | |||||||||
| , | Funds | 2022 | ||||||||
| £ | ; | £ | ||||||||
| Tangible fixed assets | 102,320 | 102,320 | ||||||||
| Current assets | 58,879 | 58,879 | ||||||||
| Creditors less than 1 year | (1,026) | (1,026) | ||||||||
| Netassets | 160,173 | 160,173 |
Page 11
Sheffield Living Waters Christian Fellowship
Detailed Statement of Financial Activities
Year ended 31 January 2023
----- Start of picture text -----
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|£|£|
|Income|and|endowments|
|Donations|and|legacies|
|Gifts|and|offerings|29,141|25,646|
|Investment|income|
|Rental|income|780|320|
|Grants|receivable|
|Grant|income|1,600|2,283|
|Total|income|31,521|28,249|
|Expenditure|
|Expenditure on|charitable|activities|
|Wages|and|salaries|16,477|16,377|
|Employer's|pension|costs|739|739|
|Rates and water|449|255|
|Light|and|heat|1,322|1,944|
|Repairs|and|maintenance|—|5,838|1,607|
|Insurance|895|716|
|Establishment|costs|1,259|1,935|
|Legal|and|professional|fees|475|475|
|Depreciation|1,612|1,709|
|ae|Loss on|disposal|of fixed|assets|224|220|
|———---—-Worship|and|pastoral|activity: ~*~ <ngg|gunn|60S|
|a|Totalexpenditure|31,170|28,702|
|Net|(expenditure)|/ income|351|(453)|
----- End of picture text -----
Page 12
ee
Sheffield Living Waters Christian Fellowship Notes to the Detailed Statement of Financial Activities
Year ended 31 January 2023
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Expenditure on charitable activities | |||
| Activities undertaken directly | |||
| Wages and salaries | 16,477 | 16,377 | |
| Employer's pension costs | 739 | 739 | |
| Rates andwater oo |
449 | 255 | |
| Lightand heat | 1,322 | 1,944 | |
| Repairs and maintenance | §,838 | 1,607 | |
| Insurance | 895 | 716 | |
| Establishment costs | 1,259 | 1,935 | |
| Depreciation | . | 1,612 | 1,709 |
| Loss on disposal offixed assets | 224 | 22 | |
| Tithes and direct giving | 1,552 | 2,314 | |
| Worship and pastoral activity | 328 | 609 | |
| 30,695 | 28,227 | ||
| Additional charitable activities | |||
| Governance costs - accountancy fees | 475 | 475 | |
| Expenditureoncharitableactivities | 31,170 | 28,702 |
Page 13