Charity Registration Number: 1064818 Company Registration Number: 031881621England and Wales) THE CATHEDRAL ARCHER PROJEcr LIMITED REPORTS AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023
THE CATHEDRAL ARCHER PROJEcf LIMITED CONTENTS Page Legal and administrative information Trustees, annual report Independent auditorfs report 13 Consolidated statement of financial activities 17 Balance sheets 18 Statement of cash flows 19 Notes to the financial statements 20
THE CATHEDRAL ARCHER PROJEcf LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Directors / Trustees lan Brownlee Stephen Kober Howard Neil Riley Surriya Falconer Karl Dalgleish Richard Taylor Daniel Brookman Frances Joel Kevin Rhone John Roberts Charlotte Shepherd Lawrence Swycher Anne Kerslake Resigned 25 May 2023 Resigned 30 November 2023 Resigned 28 March 2024 Appointed 16 October 2023 Appointed 30 May 2024 Chief Executive Officer Tim Renshaw Registered Office Cathedral of St Peter & St Paul Church Street Sheffield SI IHA Auditors BHP LLP One Waterside Place Basin Square Brimington Road Chesterfield S417FH Bankers Nat West Bank PIC Co-operative Bank PIC 60-62 Pinstone Street Sheffield Barclays Bank PIC 10-12 Pinstone Street Sheffield 42 High Street Sheffield SI IQG SI 2HN SI 2HN Page I
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees and Directors present their report and the audited financial statements of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" (FRS 102} in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charitvs governing document. the Charities Act 2011 and Accounting and Reporting by Charities- Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directorfs Report) Regulations 2013 is not required. The Cathedral Archer Project Limited is governed by its Articles of Association and is incorporated as a company limited by guarantee. The term Yhe Archer Project" is the working name of The Cathedral Archer Project Limited. The Trustees, report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees delegate the responsibility of day to day running of the project to the Chief Executive Officer. The Chief Executive Officer works with a senior leadership team to coordinate the delivery of operations. administration, fundraising, financial management. The CEO works with the Managing Director of Archer Project Enterprises Ltd to manage the day-to-day responsibilities of its wholly owned subsidiary. Introduction The Archer Project is a team, a space and a hub designed to provide services for people who are homeless, have been homeless or are threatened with homelessness. We provide a number of services designed to help people move away from homelessness. We believe the end of homelessness should have new opportunities for a satisfying life, whatever that may mean to the individuals who are building a new life. We hope that includes good health and wellbeing. a home that is enjoyed and the chance to take part in the wider society whether that is through employment. belonging to groups and/or giving time as a volunteer. These are the things we look at to measure how successful we are at supporting people. We are not a stand-alone service. By that we mean that we are much more effective in achieving our aims by working with other similarly skilled seNices. Our centre is better described as a hub which is open to other organisation5 to come and use. In 2023 we worked alongside health professionals, mental health professionals, housing providers, probation officers, drug and alcohol treatment services, outreach services and teams who, like us, work to bring all those specialisms together to help one person at a time to change their life. Page 2
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Working with other professional services helps to improve our work. For example, working with the mental health team IHASTI to provide tailored mental health support for people who are rough sleeping. This cooperation and collaboration brings a variety of specialist services into the project working alongside our team. As with most homeless agencies, we follow a Trauma Informed methodology. In brief this means we assume that most people who become street homeless are survivors of childhood trauma or Post Traumatic Stress Disorder IPTSDI and that their experience of trauma has had a profound impact on their lives. Being Trauma Informed means that we have designed the way we work and the spaces we use to avoid, as much as possible, adding to the trauma people have already experienced. The really important thing about working in a Trauma Informed way is that it increases the chances of supporting people who are homeless to change their life patterns and realise their strengths and skills to lead a much richer and fuller life than most dared to dream about. In 2023 we maintained a shop in Orchard Square to sell goods produced in our Printed By Us social enterprise. Our Peer Mentoring Programme continued for the first part of the year. It then stalled and we reviewed its development. It restarted early in 2024. Both of the initial peer mentors we employed moved on to paid employment. The peer mentor programme strengthens the work we do to help people moving away from homelessness. The plans for the rebuild of the project were further developed. but 2023 was a year of slow progress as we navigated the difficulties of recruiting a Capital Fundraiser, failing to appoint the first time and losing a key member of our fund-raising team towards the end of 2023. Better progress has been made in early 2024. Current work is being carried out to advance planning to RIBA Stage 4 and enact the fund-raising plan. Structure and Governance of the Archer Pro"ect All parts of the Archer Project are important; those people who are or have been homeless and who benefit from our service are also the people who help us run it and design improvements to the way we work. Our staff team is made up of volunteers and employees, all of whom undertake training and many of whom give feedback in one way or another to help us deliver a better service. Our Trustees are appointed because we believe they have particular skills. gifts and values that will bear fruit and improve the way we run the charity. Equally important are those who support us with gifts, donations and encouragement, without whom there would be no service to offer. The Trustees update a skills audit and discuss skills gaps. Appointments are made following al advertlsements for potential trustees with skills that have been identified as needed bl on occasions when individuals with highly prized skills have made their desire to be considered as a trustee known to the Board of Trustees. Page 3
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Potenti31 trustees receive our Trustee and Director Handbook, updated annually, which details the responsibilities and commitments of trustees and directors. training packages, an organigram with contacts for participation in the project's activities. This allows vislts and shadowing of the staff team. On appointment Trustees complete an induction process with the Administration Manager. The Chair of Trustees meets with all Trustees to identify training needs and how their skills are being and might be used to fulfil the role of trusteeship, and personal satlsfaction in fulfilling their role. Trustees and Directors Our Trustees have the task of ensuringthe charityoperates within the bounds of the lawto deliver its purpose which is set out in it5 Articles of Association. The Archer Project's governance structure is in line with the requirements of both the Charity Commission and Companies House. All of the Trustees are members of the company and guarantee to contribute £20 in the event of a winding up. The Trustees meet as a full board six times per year. They delegate aspects of their overall responsibilities and interests to sub-committees and working groups. In 2023 these were: Finance Committee Human Resources and Operational Policy Committee Fundraising Committee Re-building Committee Accommodation Task and Finish Group (ln abeyance) The Chair of Trustees chairs a remuneration committee to review and set the salary of the Chief Executive Officer. The salary is benchmarked against similar sized and structured organisations. The Chair of Trustees meets monthly with the Chief Executive Officer to review the performance of the charity and any identified risks. Risks are identified by the use of a risk register which is reviewed by both the Finance and Human Resources and Operational Policy Committees. Any risks of concern are taken to meetings of the full Board of Trustees. Trustees are asked to contribute to at least one of these committees or groups alongside regular attendance at f ull board meetings. In addition, most find ways in which they can take part in the work of the project, volunteering in our kitchen or supporting the development of skills in aspects of the project or working behind the scenes to improve administrative or financial processes. We undertake skills gap analysis against perceived skills needs when appointing Trustees. The skills Trustees bring to their role include marketing and public relations, sales, economic research and evaluation, finance management, human resources management, legal, management within private enterprise. public sector and voluntary sector. knowledge of Sheffield's business and public sector systems. Additionally. the Trustees use Archer Project Enterprises Ltd. first established in 2012 before a period of dormancy, to provide governance of its social enterprise activity. The Archer Project Enterprises Ltd {APEI board of directors meets six times peryearto considerthe outcome of helping people move into employment and the structural and financial management of its social enterprises. The Chair of the A.P.E. board and the Managing Director of APE attend two meetings of the Archer Project Board each year to discuss its performance and development. Page 4
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 In 2023 the Trustees focused on strengthening the APE Board, the wellbeing of its staff by starting a review of remuneration (salary levels and pension contributions) among other measures to provide support to employees considering the volunteer system the structure of its Engagement stream the increasing demand for basic services as homelessness figures rose in Sheffield upgrading IT to improve work streams and deliver efficiencies. Wh we are here The charity's objects are the relief of poverty within ShefField City Centre and the sub-region, with particular focus on and concern for those people who are homeless or otherwise experiencing housing difficulties due to their poverty. We believe everybody has a right to a fulfilling and enjoyable life and that there are some important things we do to help people achieve this. Public benefit In setting the objectives and planning the activities the directors have given careful consideration to the Charity Commission's general guidance on public benefit. Public benefit Is an essential part of what it is to be a charity. But it is more than a legal requirement. It provides us with a positive opportunity to demonstrate the benefits we bring to the public. in return for the financial and other benefits that come from us being charity. These include- Havinga positive effect on individuals as theytake small stepstowards a huge change and are supported to move away from street activity and instead experience a life they find more satisfying. Making a positive contribution to 'place' and the city centre environment. In 2023 homeless data showed that homelessness and rough sleeping were increasing. This is bound to have a detrimental impact on the city centre and other parts of the city. The Archer Project works with other organisations in Sheffield to address the issues in the city centre related to rough sleeping. To this end it is proactive about the space even when rising numbers gives the appearance that little is being done to support city centre residents, employees and other communities. including people who are homeless. Part of this, we believe, is addressing the challenges faced by rough sleepers in the city centre. For example, by providing a centre which meets the immediate needs of people involved in street activity (food, medical, communications and hygiene) it enables agencies and individuals to work progressively to move away from street activity. Working in a multiagency and strategic way to promote services for homeless people. The Archer Project participates in different forums to help the cross-agency relations that influence and form strategy and service delivery. It Participates in forums addressing rough sleeping, access to health services, recoverycapital: and it serves on committees within the Changing Futures Programme, SYMCA homeless working group. and Homewards Sheffield. Page 5
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 We believe it is our responsibility to learn about homelessness from the latest investigation and research in order to deliver best practice within our service. For example, we introduced Trauma Informed approaches and have continued to research how it pertains to the homelessness sector. The wa we work We provide a progressive pathway from street homelessness to a settled and stable life with paid employment. There is no end to the 5UPPOrt we offerso that if someone who has made fantastic progres5 and is in a settled. productive life experiences a relapse. we remain available to them to support them. For example, if a person returns to drug use and it builds to an addiction, we will support them as they tackle the addiction, with the intention thatwe can preventthem10sing 311 the good thingsthey have gained, their home, their sense of pride and achievement. their hope of a stable life. The pathway is three overlapping streams of support. . EngagÈment •Supporting people who are part of street culture to build routines and transition •Fu11[nÉnt •Building a settled life with the rewards of paid employment and volunteering. Accommodation is 8 'hotne', health Issues are addressed and nobody 35sociates YOU with homelessness. •Stabilisation •Supporting people ro strengthen routines and enjoy positive artivities. We expetttQ See irnprovetnents in health and accommodation and interest in new ihings. transition transition Throughout the whole journey we are looking for signs that people's lives are improving in a balanced way because this is most likely to be sustainable progress. So. we measure improvements in accommodation. changes in the way people think about their health and wellbeing and the way people think about their lives as a member of society. When a person's life is dominated by trying to survive on the street, basic accommodation is an improvement but as they progress the type of accommodation becomes more important, including where that accommodation is. who their neighbours are and how comfortably and homely the accommodation feels. These changes evidence the progress made. We can follow similarjourneys in the way people look at their health and the way they think about their life as a member of society. Page 6
THE CATHEDRAL ARCHER PROJECT LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Our three overlapping streams are: Engagement.. we workwith people whose lives are marked bythe need to survive dayto day. The quote below illustrates the lack of self-worth and hopelessness some of the people we work with can initially feel. Engagement is about giving people space to get to know and trust us and the other services who use our centre. Listening, accepting, and trying to understand are the tools we use. This is the heart of Trauma Informed ways of working, building the relationship that allows someone to think that a different life could be possible. Stabilisation: When people have some basic routines and life patterns, we can build on them. This may be as simple as someone showing a desire to meet with a particular professional by frequently attending their appointments, participating in attivities andlor volunteering. all of which provide mental stimulation and a sense of purpose. Through further developing a trusting relationship, we can work collaboratively to establish actions plans to overcome an individual's worries. build on the good things in life and aim to fulfil aspirations. We pride ourselves on employing people with lived experience who can directly relate to the myriad of issues, barriers and struggles an individual faces during their recovery and journey as they are role models of how changes in live are possible and worthwhile. 'I always thought, tomorrow'5 another day. That light in that darkness was fundamentally, one hundred percent, only present as a result of The Archer Project. Knowing that I would be able to not have to spend money on food, clothes, washing...it's a rock. In betWn all the torture and the tornados that you go through being homeless, iys an anchor., A formerly homeless man who has become a kitchen volunteer to add meaning and purpose as he builds a new life. Fulfilment.. Our aim is to give people the opportunity to feel a sense of fulfilment and success. At the Archer Project this includes the opportunity of paid employment. Alongside healthy living activities and good accommodation, employment has the power to build esteem and new aspirations. "What would I give the Archer Project out of ten? Me, personally, I'd give it ten out of ten because it changed my life. I wouldn t be in the position I am now without it. Multi-agency approach We mentioned the importance of the multi-agenvi approach and described the Archer Project as a hub. Alongside its team of volunteers and employees, professionals from other organisations of various disciplines use the project to meet and work with people. This reflects Sheffield's wider multi-agency approach working with homeless populations. It is a recognition of the complexity of homelessness. and that its victims frequently suffer from mental health issues, childhood trauma, PTSD, acquired brain injuries and, as a result, need support to tackle multiple barriers if they are to build a sustainable settled life. Page 7
THE CATHEDRAL ARCHER PROJEcf LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 During 2023 we worked with or consulted with more than 35 agencies, programmes or public bodies to do our work supporting people who are homeless. The organisations who use the Archer Project include medical services, mental health services, accommodation support workers, probation staff and alcohol and drug treatment services. The Archer Project and most other services who use the project work in a Trauma Informed way. The recognition that childhood trauma and PTSD are among the biggest causes of homeless lifestyles has led to a focus on training and development that understands how trauma affects a person's physical and mental development and the ways in which trauma can be addressed. Archer Projert Enterprises Ltd IAPE) Archer Project Enterprises Ltd is a wholly owned trading subsidiary of the Cathedral Archer Project Limited. We use APE as a vehicle through which we create social enterprises. The principal aim of our Social Enterprise activity is to provide sustainable sUPPOrted employment and professional development opportunities to both people with a history of homelessness and those who have overcome similar adversities. We are a 'Real Living Wage. accredited employer. Our enterprises are.. Printed By Us (www. We create and sell premium quality screen printed products including artwork and a range of organic clothing. Sustainable values are embedded through our supply chain. We commission designs from creatives which are then printed by us. rintedb us.or We sell our products through our online shop and our retail unit in Sheffield. We also offer 3 Custom printing service and facilitate screen printing workshops out of our city centre base. Supported employment opportunities are offered in printin& sellin& processing orders. marketin& and maintenance. Printed By Us was transferred from the Cathedral Archer Project Limited to Archer Project Enterprises Ltd in 2021. Just Clean We deliver commercial cleaning services at various clients in Sheffield exclusively through supported employment. Page 8
THE CATHEDRAL ARCHER PROJECT LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Future Plans In 2024 the Archer Project's priorities will be: The rebuild project will achieve Stage 4 RIBA and work with trust funds will be progressed. Appoint a dedicated fundraiser to the capital project. Our fundraising plan will deliver increased levels of unrestricted reserves to achieve greater sustainability. We will explore digital technology to further improve efFiciencies and expand our seiCe offer. We will complete the remuneration review and implement changes to set minimum salaries and increase future incomes with higher pension contributions. We will take further measures to improve the culture of staff well-being and safe operations. The Peer Mentor Programme will be further developed. We will further develop our volunteer processes to improve the satisfaction that volunteering gives to those who take part. The Board of Trustees will produce an ambitious 3-year co-designed vision and strategy. Archer Project Enterprises will be supported to grow it5 sales income to achieve greater sustainability and deliver more employment opportunities for people leaving homelessness. StrateEiC relationships will be nurtured, and our work will be widely recognised for its compassion and expertise. io. ii. Financial Review In 2023 the Archer Project increased its year end unrestricted reserves to £427,192 compared to £212,852 120221. This was achieved through increased unrestricted donation. legacy and grant income. The charity didn't meet its planned restricted grant income and. as a result. revised its planned expenditure in mitigation. There are a number of reasons for the increased unrestricted income but of particular note was the social media and marketing activity highlighting the work of the Archer Project. High profile events including our exhibition, "Wish You Were Here" supported by The Black Eye Project and the book launch of "14 Nights" are important in our fundraising work. (See htt www.bbc.co.uk news uk-en land-south- orkshire- 66754460. htt www.archer ro ect.or 14-ni hts-book- reorder). In addition closing unrestricted reserves include designated funds of £42,695 being unspent insurance claim proceeds lout of a total of £77,695 received in the yearl which will be spent on the capital project to refurbish the building. The insurance claim arose following the arson attack in May 2020. news Risk factors l. The economic crisis12022 and ongoing) remains a threat. More people with low incomes are struggling with household costs and relying on charitable support. The Archer Project is experiencing an increase in demand for its services. b. 80% of households are reported to face greater increases in costs than increases in income. This is likely to affect people's ability to give and may stall the growth in donations we need to maintain the level of seNice delivery we have developed. A reduction in inflation is predicted and there is more hope of fiscal control, however, world events impacting inflation remain significant. Page 9
THE CATHEDRAL ARCHER PROJECT LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 2. High levels of homelessness. both people in temporary accommodation and rough sleeping, have increased both the visibility of homelessness and the number of people attending the project. Both present ri5k5. The visibility of homelessness is frequently related to anti-social behaviour IASB) in the city centre. The rise in incidents of ASB is real and is being addressed by city centre officers and South Yorkshire Police. It has led to more demand for a PSPO {Public Space Protection Orderl in the city centre. It represents negative publicity about people who are homeless and the services who work with them instead of a recognition of the failure of social policy to reduce the numbers of people becoming homeless. The Archer ProjectTeam and other professionals report a sense of increased aggression and frustrations within the rough sleeping communities. b. Daily attendance, breakfasts and figures have increased. The increase puts pressure on finances and staff wellbeing. The latter is particularly at risk with the sense of heightened frustration and aggression. 3. Following the ar50n attack in May 2020. the Archer Project has invested in redesigning its centre to deliver better outcomes for people who have experienced homelessness. This is a whole programme of work. including a major fundraising effort, over and above the work of the Archer Project. The Trustees have delegated the work to a working group of Trustees and the CEO to ensure the scheme is realistic, well- planned, accurately costed. and will not impede the fund-raising work to deliver the projects services. The project has a dedicated fundraiser from June 2023. The proposed plans will improve the way the centre can deliver outcomes by using space differently in line with trauma informed ways of working. It is estimated that the Archer Project will need to raise between £1.5 and £2 million to deliver the scheme. The working group has undertaken a cost benefit analysis which shows that for every one pound it spends on services for homeless adults there is a public sector cost saving impact of £3.20. In other words. a rebuilt, reconfigured project will provide an effective service in helping Sheffield tackle homelessness- it will add very valuable skills and resources to those services delivered by the local authority and health service5. 4. Archer Project Enterprises Ltd has been established to deliver income generating work in line with the objectives of the Archer Project. It provides employment for people who are formerly homeless or have suffered related vulnerable lifestyles. e.g.. have suffered debilitating mental health or addiction with the threat of becoming homeless. Indeed. its primary objective is to SUPPOrt personal progress into employment and the added stability this brings to a settled life. The sustainability of APE Ltd currently depends on support from the Archer Project. This. in turn, places demands on the ability of the Archer Project to raise sufficient income on a sustainable basis. To mitigate this. the governance of APE by a separate board focuses on financial management as well as achieving outcomes. The funding team works to identify grants related to employment and social enterprises to provide specific support for the programme. Page 10
THE CATHEDRAL ARCHER PROJECT LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Financial Position During 2023 the Archer Project group reported a surplus of £216.05012022: deficit £68.019). Within this. restricted funds increased by £1,710 12022- increase of £28,795) and unrestricted reserves increased by £214,34012022.. decrease of £96,814). Total reserves at the end of 2023 are £536,67512022: £320,625) with unrestricted reserves of £427.19212022: £212.852) carried forward. In common with many other voluntary sector organisations the Archer Project recognises the inherent uncertainty of its funding streams. Our funding team regularly reviews its performance. Flexibility in fund raising work has been particularly important in the past two years to respond to a changing economy and its impact on grant making trusts, donations and government SUPPOrt schemes. Poli on reserves The Board has established a policy whereby the unrestricted funds not committed or designated or invested in fixed assets held by the charity (free reSee$} should be at a level sufficient to continue the current activities of the charity in the event of a short-term significant fall in funding. The Board believes that a range of three to six months, total costs in the budget for the following financial year, currently amounting to £260.000 to £520,000, should be held. At £350,711 the level of free reserves at 31 December 2023 is within thi5 target range. The Trustees are aware that funding continues to be unpredictable. Both the Board and the Management continue to develop Strategies to increase unrestricted reserves and aim to retain these at an acceptable level. This reserves policy will be reviewed at least annually. Goin concern As outlined above, free reserves at the end of the year are above target level. Trustees have undertaken detailed reviews of the areas listed below, and having done so consider that it is correct to prepare accounts on a going concern basis. The level of secured grant funding to December 2025- Patterns of donations and the planned fundraising events to attract support for the project in 2025,. A plan of expenditure to keep costs within budget limits through to December 2025,- Detailed forecasts of income and expenditure through to December 2025: and Cash flow forecasts to December 2025 Taking all these matters into account we consider that it is appropriate to hold reserves within the target level and it is appropriate to prepare accounts on a going concern basis. Page 11
THE CATHEDRAL ARCHER PROJECT UMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees, responsibilities statement The Trustees Iwho are also directors of The Cathedral Archer Project Limited for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company law requires the Trustees to prepare financial Statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP 2019 IFRS 1021; make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence fortaking reasonable stepsforthe prevention and detection of fraud and other irregularities. This report was approved by the Trustees on 24.07.2024 and signed on their behalf by.. Surriya Falconer Trustee Page 12
THE CATHEDRAL ARCHER PROJECT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CATHEDRAL ARCHER PROJEcf LIMITED Opinion We have audited the f inancial statements of The Cathedral Archer Project Limited (the 'parent charitable companVI and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the group statement of financial activities, the group and the parent charitable company balance sheet, the group cash flow statement and notes to the financial statements, including significant accounting policies. The f inancial reporting f ramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the group's and parent charitable companws affairs as at 31 December 2023. and of the group's incoming resources and application of resources, including its income and expenditure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the f inancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collettively. may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Trustees, Annual Report, other than the financial statements and our auditorfs report thereon. The tru5tee5 are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Page 13
THE CATHEDRAL ARCHER PROJECT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CATHEDRAL ARCHER PROJEcf LIMITED Our responsibility is to read the other information and, in doing 50. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed bythe Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees. report which includes the directors, report prepared for the purposes of company law for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us: or the parent charitable company's financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees. remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Responsibilities of trustees A5 explained more fully in the trustees. responsibilities statement (set out on page 121 the trustees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable companws ability to continue as a going concern, disc105ing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company orto cease operations, or have no realistic alternative but to do so. Page 14
THE CATHEDRAL ARCHER PROJECT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CATHEDRAL ARCHER PROJEcf LIMITED Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below- Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including f raud and non-compliance with laws and regulations, was as follows: the senior statutory auditor ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identify or recognise non-compliance with applicable laws and regulations- we identified the laws and regulations applicable to the group and parent entity through discussions with those responsible for compliance. and from our knowledge and experience of the sector- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and parent entity, including Charities Act 2011, Companies Act 21XJ6, safeguarding legislation, health and safety requirements including f ire safety and data protection laws: we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and reviewing legal expenses- and we ensured identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibilityof the group and parent entitys financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud: and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls. we performed analytical procedures to identify any unusual or unexpected relationships- tested journal entries to identify unusual transactions; assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias. and investigated the rationale behind significant or unusual transactions. Page 15
THE CATHEDRAL ARCHER PROJECT LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE CATHEDRAL ARCHER PROJEcf LIMITED In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included. but were not limited to= agreeing financial statement disclosures to underlying supporting documentation- reading the minutes of meetings of those charged with governance,. and enquiring of management as to actual and potential litigation and claims. Because of the inherent limitation5 of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council's website at- https'.//www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standardsand- guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilitiesfor- audit.aspx. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable compan¢s members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companTrls member5 as a body, for our audit work. for this report. or for the opinions we have formed. SHP LLF Ser ID.. CZYRUVFAHR.. Nicola Adams (Senior Statutory Auditor) For and on behalf of BHP LLP, Statutory Auditor One Waterside Place Basin Square Brimington Road Chesterfield 5417FH Date.. 1610812024 G Page 16
THE CATHEDRAL ARCHER PROJEcf LIMITED CONSOUDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restrirted Funds Funds Total 2023 Total 2022 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments Other income 753.774 11.376 100.564 3,334 77.695 197,865 951,639 11,376 100,564 3,334 77.695 721,640 3,494 148,893 187 9,240 Total income 946,743 197,865 1,144,608 883,454 Ex enditure on: Raising funds Charitable activities Other trading activities 191.337 340.386 211,577 191,337 525,644 211,577 138,618 554,283 258,572 185,258 li Total expenditure 743.300 185,258 928,558 951,473 Net income/(expenditure) for the year Transfers between funds 203,443 10.897 12,607 (10,897) 216.050 {68,019) 19 Net movement in funds 214.340 1.710 216,050 168,0191 Reconciliation of funds: Funds brought forward at l January 212.852 107,773 320,625 388,644 Funds carried forward at 31 December 427.192 109.483 536.675 320,625 The statement of financial activities complies with the requirements of an income and expenditure account under Companies Act 2006 and includes all gains and losses recognised in the year. All income and expenditure derive from continuing attivities. Page 17
THE CATHEDRAL ARCHER PROJEcf LIMITED BALANCE SHEETS AS A T31 DECEMBER 2023 GROUP CHARITY 2023 2022 2023 2022 Notes Fixed assets Intangible assets Tangible assets Investments 14 15 16 2.717 31.069 4,706 27,595 1.600 23.495 2,400 18,648 33.786 32,301 25,096 21,049 Current assets Stock Debtors Cash at bank and in hand 55.316 42,353 482.775 52,596 165,185 218,548 17 110,367 452.806 238,673 178,666 580,444 (77.555} 436,329 {148.0051 563,173 (51.594) 417,339 1117,7631 Creditors: amounts falling due within one year 18 Net current assets 502.889 288,324 511.579 299,576 Total assets less current liabilities 536,675 320,625 536,675 320,625 Net assets 20 536.675 320,625 536,675 320,625 Funds Unrestricted funds - designated Unrestricted funds general Unrestricted funds total Restricted funds Total funds 19 19 42.695 384,497 427,192 109,483 536,675 42,695 384,497 427,192 109,483 536,675 212,852 212,852 107,773 320,625 212,852 212,852 107,773 320,625 19 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 relating to small companies. The financial statements on pages 17 to 37 were approved by the Board on signed on its behalf by: 24.07.2024 and were Surriya Falconer Trustee Company Registration Number: 03188162 Page 18
THE CATHEDRAL ARCHER PROJEcf UMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Net cash generated/(used) by operating activities See below 319.037 1135,5031 Cash flow from investing activities Interest income Purchase of tangible fixed assets 3,334 (12,160) 187 111,5501 Cash used in investing artivities (8,826) 111,3631 Cash flow from financing artivities Loan repayments Loan interest payable (43,224) (2,760) 139,9181 15,2071 Cash used in financing artivities (45,984) 145,1251 Increase/{decreasel in cash and cash equivalents in the year 264,227 1191,9911 Cash and cash equivalents at the beginning of the year 218,548 410,539 Cash and cash equivalents at the end of the year 482,775 218,548 Reconciliation of net movement in funds to net cash flow from operating artivities 2023 2022 Net incorne/(expenditure) for the year Add back depreciation charge Add back amortisation charge Deduct interest income shown in investing activities Add interest payable shown in financing activities Increase in stock Decreasellincreasel in debtors IDecreasel/increase in creditors 216,050 8,686 1.989 (3,334) 2,760 (2,720) 122,832 (27.226) 168.0191 7.310 1,989 (1871 5,207 1,116 1116.5911 33,672 Net cash flow generated/{used) by operating activities 319.037 1135,5031 Analysis of changes in net debt At l Jan 2023 Cashflows Transfer At 31 Dec 2023 Cash at bank and in hand Debt due within l year 218,548 143,2241 264,227 43,224 482,775 175.324 307.451 482,775 Page 19
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 l Accounting policies 1.1 General infomiation and basis of preparation The Cathedral Archer Project is a charitable company limited by guarantee in England and Wales. The address of the registered office is given in the legal and administrative information on page l of these financial statements. The nature of the charitys operations and principal activities are the relief of poverty. The financial statements have been prepared in accordance with 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 issued on in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, the Charities Act 2011. the Companies Act 2(K)6 and UK Generally Accepted Practice. The Cathedral Archer Project Limited meets the definition for a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy note. The financial statements are presented in £ sterling which is the functional currency of the charity and rounded to the nearest £1. 1.2 Basis of consolidation The consolidated accounts include the accounts of The Cathedral Archer Project Limited and its subsidiary undertakings on a line by line ba515. Under settion 399 of the Companies Act 2006 and SORP 2019 the company is not required to present its own income and expenditure account. The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities. The company's net movement in funds for the year was £216,050 {2022..1{£68.019)). 1.3 Going concern The charitable group has made a surplus in the year of £216,050. Free reserves at 31 December 2023 are £350.711 and above the minimum target level of £260.000. The trustees have prepared forecasts of income and expenditure for the period to 31 December 2025 and subjected them to sensitivity analysis. The forecasts show that the group has sufficient reserves and cash to be able to continue. The forecasts are dependent on being able to raise sufficient income from donations and grants to support the costs of running the charitable group. The trustees recognise that in the current economic climate there are some uncertainties in achieving this. The trustees will continue to monitor performance against budget and put plans in place including the identification and implementation of cost savings. to safeguard the finance5 of the charitable group if necessary. It is for these reasons that the trustees continue to adopt the going concern basis in preparing these financial statements. Page 20
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.4 Income recognition Income from donations and grants is recognised in the period in which the charity is entitled to receipt, it is probable and the amount can be measured with reasonable certainty. Income is deferred onlywhen the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Legacies are included when the charity is legally entitled to the income. probate has been granted, its receipt is probable and the amount can be quantified with reasonable accuracy. Entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. Intangible income (for example, assistance in the form of donated services) is included in the Statement of Financial Activities where another party is bearing the financial cost of the resources supplied and the benefit is quantifiable and measurable. Intangible income is included in the period in which the benefit of the resource is received. 1.5 Expenditure recognition Resources expended are included on an accruals basis inclusive of irrecoverable VAT and have been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Charitable costs are split between direct and support costs based on the use of resource5. Governance costs comprise costs for the running of the charity itself as an organisation. 1.6 Intangible fixed assets Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is provided at rates calculated to write off the cost less estimated residual value of each asset over its experted useful life. as follows: Website Printing rights 25% straight line 33% straight line Assets are not amortised in the year of purchase. 1.7 Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows.. Computer equipment Leasehold improvements Fixtures & fitting5 Motor vehicles 25% straight line 20% straight line 20% straight line 20% straight line Assets are not depreciated in the year of purchase. Page 21
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.8 Leases Operating lease rentals are charged to the income and expenditure account as incurred. 1.9 Employee benefits When employees have rendered service to the charity short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service. The charity operates a defined contribution pension plan for the benefit of its employees. Contributions are expensed as they become payable. 1.10 Funds Restricted funds are funds subject to specific conditions imposed by the donor. Designated unrestricted funds are funds set aside by the Trustees, out of general unrestricted f unds, for specific purposes. General unrestricted funds are funds generated for general charitable purposes. 1.11 Debtors Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. 1.12 Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.13 Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party- Creditors and provisions are normally recognised at the settlement amount. 1.14 Financial in5trument5 The charity only has financial assets and financial liabilities of a kind that qualifie5 a5 basic financial instruments. These are initially recognised at transaction value and subsequently measured at settlement value. 1.15 Tax The company is considered to pass the tests set out in Sch. 6, para. l of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11. Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Page 22
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 1.16 Judgements and key sources of estlmation uncertainty Critical accounting estimates and areas of judgement Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions: The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. 2 Net incomel(expenditure) for the year This is stated after charging: 2023 2022 Auditor's remuneration: audit other services Independent examiner fee Depreciation of tangible assets Depreciation of intangible assets Operating lease expenses Cathedral Resources Centre rent 11,244 1.260 7,368 7,310 1.989 18,157 37.500 8,686 1.989 4,539 37,500 Page 23
THE CATHEDRAL ARCHER PROJEcf UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Donations and legacies 2023 Unrestricted 2023 Restrirted 2023 Total 2022 Total 29, May 1961 Trust AES Seal Ltd Albert Gubay Foundation Harry Bottom Trust Liz & Terry Bramall Foundation Church Urban Fund Cutlers, Company Charitable Trust DACT Help Us Help Dunn Family Charitable Trust Dan McAllister Foundation Facey Family Foundation Family Action Fund Forrester Family Trust Freshgate Foundation Garfield Weston Foundation Paul Grant Charitable Trust J G Graves GMB Asda South Branch Greggs Foundation Hedley Foundation Homes by Honey Limited John Lewis Community Investment Fund Metro Finance NHS Sheffield CCG NHS SYIB James Neill Trust Fund O'connor Positive Activities Fund Rise Construrtion Framework Sheffield Ceramic Festival Sheffield Church Burgesses Sheffield City Council Sheffield Forgemasters Sheffield General Benevolent Sheffield pcr HCP Sheffield Town Trust Spencer Charitable Trust Swann Morton Foundation Swire Charitable Trust Tudor Trust Westfield Foundation Donations via Aviva - kitchen operations Donations via Crowdfunder- screen print operations Legacies Other collections and other donations 5,000 15,000 22,400 5,000 15,(100 22,400 10,000 38,700 1,000 7,298 3,750 4,747 2,000 24,483 24,483 1,500 12,669 12,669 2,000 520 25,000 520 25,000 50,000 2,000 35,000 35,000 5.000 3,000 3,000 1,000 zo.ooo 20.000 1.000 10.000 io.ooo 4,000 39,953 4,800 2,500 4,800 5,000 22.500 3,000 5,000 8,806 22,500 8,000 2,000 3,000 8,000 8,000 25,581 2,000 2,500 6,000 9,000 1,500 1,500 4,500 6,000 3,500 35,000 41,571 30.000 15.843 9.352 120,484 433.571 3,500 3,500 35,LllO 41,571 15.843 9.352 120.484 432.821 7,000 470,311 750 753.774 197.865 951.639 721,640 Page 24
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 4 Charitable activities- unrestrlcted 2023 2022 Just Works activities Big Issue rental Other 2.034 1,322 138 1,121 10.255 11.376 3,494 Other trading artivities - unrestricted 2023 2022 Cleaning services Printing operations Goods sold Other 10.947 78,898 8.972 1.747 22.371 88,933 1,012 36.577 11)0.564 148,893 6 Investment income- unrestricted 2023 2022 Interest receivable 3,334 187 3,334 187 7 Other income- unrestricted 2023 2022 Insurance claim 77,695 9,240 77,695 9,240 During the year the charity received £77,695 in settlement of an insurance claim following an arson attack on the premises in May 2020. This is to be used towards refurbishment costs and ha5 been transferred to a designated Rebuild fund. £35,000 was spent in the year. Page 25
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 8 Raising funds Unrestrirted Expenditure Restricted Expenditure 2023 Total 2022 Total Staff costs Office costs 96.862 75,115 96.862 75.115 70,061 48,275 Direct raising fund5 Support costs (note 10} 171.977 19,360 171.977 19,360 118.336 20,282 Total raising funds 191.337 191.337 138.618 Charitable activities Unrestrirted Expenditure Restricted Expenditure 2023 Total 2022 Total Staff costs Volunteer expenses Accommodation costs Office costs Depreciation Amortisation Food provision Client activities and welfare Governance costs 62,159 118.376 2.704 18.250 12.508 180,535 11.047 71.819 22.868 6,813 800 28,331 17,687 30,862 216,628 13,187 73,332 25,258 6,892 800 19,607 8,640 27,687 53.569 10,360 6,813 800 6.164 22.167 11.253 30.862 Direct charitable activities 185.504 185.258 370.762 392,031 Support costs (note 10} 154.882 154.882 162,252 Total charitable activities 340.386 185,258 525.644 554,283 Page 26
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10 Allocation of support costs The charity allocates its support costs as shown in the table below. The support costs are allocated on the basis of employee time. Charitable activities Raising funds 2023 Total 2022 Total Staff costs Office costs Professional fees Bank charges 111,946 41.740 764 432 13,993 5.217 96 54 125.939 46.957 860 486 118,188 49,351 13,236 1,759 Total sUPPOrt costs 154,882 19.360 174.242 182,534 Total support Costs 2022 162,252 20,282 182,534 11 Other trading artivities Expenditure incurred through other trading activities is wholly unrestricted. 2023 Total 2022 Total Cleaning services cost of sales Printing operations costs Staff costs Office costs Bank charges 2.402 34,036 144,611 29,448 1,080 2,089 53,110 170,217 30,768 2,388 211.577 258,572 12 Trustees None of the Trustees {or any persons connected with them) received any remuneration. benefits or expenses from the company during either year. Page 27
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 13 Staff costs Staff costs during the year were as follows: 2023 2022 Wages and salaries Social security costs Pension costs 508.419 29,751 11.593 524,763 31,281 11,450 549,763 567,494 The average number of employees during the year was as follows- 40 36 Pension contributions of £2,54612022: £2,300) were outstanding at the year end for December 2023 and included within current liabilities. No employee earned over £60.000 during either year. Aggregate remuneration costs for the senior management team including salary, employer's Nl and employerfs pension cost were £180.05512022: £182.6231. The charity considers its senior management team to be the Chief Executive Officer, Deputy Chief Executive, Centre Manager. Administration Manager and Head of Social Enterprise. Pension contributions for employees are allocated to those activities and funds that the employees, salary is allocated to. Page 28
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 14 Intangible fixed assets Printing Rights Total Charity Website Cost At l January 2023 Additions 3,21JO 3.200 At 31 December 2023 3,2 3,200 Amortisation At l January 2023 Charge for the year 800 800 800 800 At 31 December 2023 1,600 1.600 Net book value At 31 December 2023 1,600 At 31 December 2022 2.400 2,400 Printing Rights Total Group Website Cost At l January 2023 Additions 5,020 2.500 7,520 At 31 December 2023 5.020 2.500 7.520 Amortisation At l January 2023 Charge for the year 1,164 1,164 1.650 825 2.814 1,989 At 31 December 2023 2,328 2.475 4.803 Net book value At 31 December 2023 2,692 25 2,717 At 31 December 2022 3.856 850 4,706 Page 29
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15 Tangible fixed assets Leasehold Improvements Motor Vehicles Computer Equipment Fixtures & Fittings Total Charity Cost At l January 2023 Additions 11.563 59,877 3,668 67,554 7.992 138,994 11,660 At 31 December 2023 11.563 63,545 75,546 150,654 Depreciation At l January 2023 Charge for the year 11.563 51,719 3,665 57.064 3,148 120,346 6,813 At 31 December 2023 11.563 55,384 60,212 127,159 Net book value At 31 December 2023 8,161 15,334 23,495 At 31 December 2022 8.158 10,490 18,648 Leasehold Improvements Motor Vehicles Computer Equipment Fixtures & Fittings Total Group Cost At l January 2023 Additions 11.563 64,400 3,668 69,644 8,492 149,407 12,160 At 31 December 2023 11.563 68,068 78,136 161,567 Depreciation At l January 2023 Charge for the year 11.563 51,719 4,570 58,530 3,356 121,812 8,686 760 At 31 December 2023 11.563 760 56,289 61.886 130,498 Net book value At 31 December 2023 11,779 16,250 31,069 At 31 December 2022 3.800 12.681 11,114 27,595 Page 30
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16 Flxed asset investments Group Charity 2023 2022 2023 2022 Unlisted investments Investment in subsidiary company Archer Project Enterprises Limited (Company number: 074312941 is a 100% owned subsidiary. Profitl(Loss) Capital and reserves Archer Project Enterprises Limited (42.320) (88,238) 17 Debtor5 Group Charity 2023 2022 2023 2022 Trade debtors Amounts owed by subsidiary undertaking Other debtors Prepayment and accrued income 29.903 815 6,671 78,265 734 30,553 110,367 109,172 3,7fA 31,649 42.353 9.307 125,975 165.185 122,830 238,673 Page 31
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18 Creditors Creditors: amounts falling due within one year Group Charity 2023 2022 2023 2022 Trade creditors Other creditors Other taxes and social security Loan 31.136 33,531 12.888 53,533 36.349 14,899 43.224 148.005 25,501 18,404 7.689 48,022 19,766 6,751 43,224 117,763 77,555 51,594 An unsecured loan of £120.000 was received from HomelessLink in 2021. this was fully repaid in the year. The loan was repayable by instalments as follows- 2023 2022 Less than one year Later than one and not later than five years 43,224 43,224 19 Funds Current year: Unrestricted funds Transfers between funds Balance at ljan 2023 Balance at 31 Dec 2023 Group Income Expenditure General unrestricted funds General funds Icharityl Subsidiary - Archer Project Enterprises Ltd 258.770 770,774 {405,1481 1151,6611 472,735 145.9181 91,106 {218,2891 84,863 188,2381 212.852 861.880 (623A37) 166.798) 384A97 Designated funds Rebuild 135,OCMJI 77,695 42,695 (35.000) 77.695 42.695 Total unrestrirted funds 212,852 861,880 (658,4371 10,897 427,192 Page 32
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19 Funds- continued Current year- contlnued: Restricted funds Transfer between funds Balance at ljan 2023 Balance at 31 Dec 2023 Group and Charity Income Expenditure Albert Gubay Foundation Austin & Hope Pilkington Trust Aviva Community Fund Church Urban Fund Community Fund Cost of Living grant DACT Help Us Help Family Action Fund Forrester Family Trust Harry Bottom Trust Hedley Foundation Homeless Link 4.054 John Lewis Community Investment Fund 32.707 Lankellychase Foundation 4.289 NHS SYICB NHS Sheffield CCG O'connor Positive Activities Fund Sheffield City Council Sheffield PCT HCP Swann Morton Talbot Trust Tudor Trust Donations via Aviva kitchen operations Donations via Crowdfunding screen print operations Other 22,400 122,4001 i.Th)o 554 19.251 1,000 554 24,483 141,2021 121,6691 16,2011 15201 120,8251 11.2501 11.0001 14,0541 116,4241 12,5321 121,6691 5,079 5.640 5.640 520 25,000 5,000 1,000 25.(KJO 29,175 3,750 16551 15,628 4,289 17,040 3,164 9,388 8,806 9,408 22,$00 5,000 15,4601 11.8361 16121 5.000 8,806 9.408 1,500 3,500 11.5001 13,5001 780 90 780 22,392 41,571 119,2691 15,843 115,8431 9.352 750 17,1021 1511 12,2501 699 Total restrirted funds 107,773 197.865 {185.258) 110,897) 109.483 Total funds- Group 320,625 1.059,745 {843,695) 536,675 Page 33
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19 Funds- continued Prior year: Unrestricted funds Transfer between funds Balance at ljan 2022 Balance at 31 Dec 2022 Group Income Expenditure General unrestricted funds General funds Icharityl Subsidiary - Archer Project Enterprises Ltd 327,407 460,279 {528,9161 258,770 117.7411 230,395 {258,5721 145,9181 Total unrestricted funds 309.666 690,674 1787.4881 212,852 Re5trirted fvnds Transfer between funds Balance at ljan 2022 Balance at 31 Dec 2022 Group and Charity Income Expenditure Austin & Hope Pilkington Trust Aviva Community Fund Church Urban Fund Co-op Local Community Fund DACT Help Us Help Forrester Family Trust Freshgate Foundation GMB Asda South Branch J G Graves Homeless Link John Lewis Community Investment Fund Lankellychase Foundation Lloyds TSB Foundation NHS Sheffield CCG O'connor Rise Construction Framework Sheffield Chamber of Commerce Sheffield City Council Sheffield PCT HCP Sheffield Town Trust Swann Morton Talbot Trust Tudor Trust 1.000 554 14.202 1.283 5.644 1,000 554 19,251 38,700 133,6511 11,2831 17.3021 125,0001 12,0001 11,0001 13,0001 15,2071 17,246 7.298 50,000 2,000 1,000 3.000 5,640 25,000 9.261 4,054 32,707 4,289 39,953 4.289 13.333 113.3331 12,5001 13,0001 12,0001 14,9321 127,5091 16.0001 12.1601 13.5001 11.3401 112,0221 2,500 8,000 2,000 3,248 25,581 5,000 1.684 11.336 9,408 2.160 3,500 2.120 12.112 780 90 Total restrirted funds 78.978 192,780 1163,9851 107,773 Total funds- Group 388.644 883.454 1951.4731 320,625 Page 34
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19 Funds- continued The purposes of restricted funds are: Albert Gubay Foundation- supporting engagement provision in 2023 Austin & Hope Pilkington Trust-funding for translation services Aviva Community Fund-funding towards wellbeing of Just Works participants Church Urban Fund- grant for 3-year project providing personalized stability support Co-op Local Community Fund- funding towards wellbeing of Just Works participants Community Fund Cost of Living Grant- Short term funding to support engagement delivery DAcf Help Us Help- sUPPOrt for Help Us Help project Family Action Fund- one-off support claims for individuals Forrester Family Trust- grant towards management of social enterprise activities Freshgate Foundation- grant towards food provision GMB Asda South Branch-grant towards food provision JG Graves- grant towards the welfare of people who use the project Harry Bottom Trust- funding towards capital fundraiser post Hedley Foundation- grant towards volunteer expenses Homeless Link- funding for interest charged on Homeless Link loan John Lewis Community Investment Fund- to support the peer mentor scheme Lankellychase Foundation- a grant towards the Breakthrough Project. Lloyds TSB Foundation - a grant towards project costs NHS Sheffield CCG- to provide information on and the opportunity for people who are homeless to receive covid vaccinations NHS SYICB- funding towards refurbishment and running of medical room IYConnor- to support the peer mentor scheme Positive Artivities Fund- grant to improve outcomes for people in recovery through meaningful activities Rise Construction Framework- grant towards food provision Sheffield Chamber of Commerce-funding for Kickstart employment scheme Sheffield City Council- Covid support towards continued delivery during the pandemic Sheffield pcr HCP- a grant towards the cost of a project worker and activity incentives. Sheffield Town Trust- funding for CAP and partners to support individuals during Covid Swann Morton Foundation- a grant towards the operation of medical facilities Talbot Trust- grant towards counselling for Just Works participants Tudor Trust- 2023: 3-year funding for Team Leader for the Stability team, and an award to support staff. volunteer and trustee wellbeing- 2022= funding towards women's support, and a further grant given to provide or improve welfare provision for the Archer Project staff team Donations via Aviva- funds raised through the Aviva platform specifically for the kitchen operations. Donations via Crowdfunder-funds raised via Crowdfunder to support screen print workshop operations Page 35
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19 Funds- continued Designated funds A Rebuild designated fund was created during the year. comprising insurance proceeds received for damage to the Project premises following an arson attack in 2020. These monies are to be used towards the refurbishment of the premises. Transfers between funds Designatedfunds transfer This represents general unrestricted funds allocated to designated funds in the year Fixed assets tr(7nsfer A transfer was made from restricted to unrestricted funds for the net book value of restricted tangible fixed assets where the conditions of the funding have been fulfilled, and the assets are used for the general objectives of the charity. Intercompany transfer This represents funds transferred to APE to fund its activities which are in accordance with the charity objectives. 20 Analysis of assets between funds Unrestricted funds Restrirted funds Total Current year Intangible fixed assets Tangible fixed assets Current assets Creditors.. Amounts falling due within one year 2.717 31,069 470.961 (77.555) 2,717 31,069 580,444 (77.555) lo9,83 427,192 109,483 536,675 Unrestricted funds Restrirted funds Total Prior year Intangible fixed assets Tangible fixed assets Current assets Creditor5'. amounts falling due within one year 4,706 27,595 328,556 {148,005) 4,706 27,595 436,329 1148,005) 107,773 212,852 107,773 320,625 Page 36
THE CATHEDRAL ARCHER PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 21 Commitments under operating leases At 31 December 2023 the company had future minimum lease payments under non-cancellable operating leases as follows: 2023 2022 Land and buildings Less than one year Later than one and not later than five years Greater than five years 37,833 158,000 464,125 659,958 The Cathedral Archer Project is housed in the Cathedral Resources Centre which is rented from Sheffield Cathedral. A new lease was signed in October 2023 for 17 years. The annual rent paid was £37,50012022: £37,500). 22 Related party transartions During the year, trustees and key management personnel made donations totalling £39,55312022: £5,694). During the yearThe Cathedral Archer Project Limited made grants totalling £84,86312022: £66,2501 to its subsidiary Archer Project Enterprises Limited to support the work in line with the charitable objectives of the charity. In the prior year The Cathedral Archer Project Limited made charges to its subsidiary Archer Project Enterprises Limited of £8,000 for rent and other costs. There were no charges in 2023. In the prior year, Archer Project Enterprises Limited charged The Cathedral Archer Project Limited £15,427 for services. There were no charges in 2023. In 2022, £75,000 was paid from Archer Project Enterprises Limited to the Cathedral Archer Project Limited during the year for repayment of loan balance5. There were no repayments in 2023. The loan balance to the subsidiary Archer Project Enterprises Limited at 31 December 2023 was £166,503 owing to the Cathedral Archer Project Limited {2022: £155,090). At the year end a provision has been made for £88,238 in the Cathedral Archer Project Limited company accounts relating to the net liabilities of Archer Project Enterprises {2022: £45,918). Page 37