2022-03-31-accounts

Charity registration number 1080111

Company registration number 03866756 (England and Wales)

SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr D Forrester Ms K L Jackson Ms J Jesper Ms W Peake Mr M White (Appointed 14 June 2022)

Charity number

Company number Registered office

Auditor

Bankers

1080111 03866756 Peile House 255 Pitsmoor Road Sheffield S3 9AQ Knowles Warwick Audit Services Limited Charlotte House 500 Charlotte Road Sheffield S2 4ER HSBC Bank plc Scottish Widows Bank Parade Building 67 Morrison Street Stocksbridge Edinburgh Sheffield EH3 8YJ S30 5DH Santander Uk Plc Shawbrook Bank Bridle Road Lutea House Bootle Essex L30 4GB CM13 3BE Yorkshire Bank The Royal Bank of Scotland Fargate 208 Bawtry Road Sheffield Wickersley S1 1LL S66 1AA The Co-operative Bank plc Central Commercial Branch Skelmersdale WN8 6WT

SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

CONTENTS

	Page
Trustees' report	1 - 4
Statement of trustees' responsibilities	5
Independent auditor's report	6 - 8
Statement of financial activities	9 - 10
Balance sheet	11 - 12
Statement of cash flows	13
Notes to the financial statements	14 - 27

SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Following the continued disruption to the country in 2020-21 as a result of the Covid 19 pandemic, 2021-2022 has seen many businesses and organisations start to unlock and individuals start to resume something akin to normal life.

Like many charities, Sheffield YWCA has continued its face to face work with clients despite the continued uncertainties and despite the changes to our client group that we have experienced. Whilst we still do not fully understand the full impact of the pandemic on our organisation, we know that there has been a significant rise in poor mental health amongst our young people, and a rise in the incidence of domestic and sexual violence suffered.

This increase in the levels of trauma has placed significant strain on our staff and resources at a time when financially, we continued to suffer from the closure of our successful charity shop in the early part of the year. However, throughout the year we have been fortunate to have received a number of grants and access to government assistance which has softened the worst of the financial blow to the charity, and enabled us to build the resilience of our staff teams through comprehensive training.

This year the board moved forward with a new strategic plan for 2021-25, focussing on 6 key strategic areas; Finance; Governance; Strategic alliances; Profile; Employer of choice and Quality. The board and senior management team met together to develop the strategy, revisit the charities core values and develop a plan for the growth of the charity over the next 4-year period.

This year, we have continued to explore ways that we can support our staff, particularly given the continuation of the stress and uncertainty caused as a result of the Covid-19 pandemic. We have implemented a new flexible working policy, home working for eligible staff and a finance scheme. All of these measures are aimed at improving the worklife balance of staff who have worked hard during difficult times.

Successful applications to grant making organisations and sources of government support have meant that the charity has been able to operate effectively again this year, which has ensured our financial resilience. As part of the new strategic plan, Sheffield YWCA has purchased further properties this year, which has extended our portfolio in Rotherham. Again, this has added further financial resilience, and the opportunity to support additional client groups in the future.

Further success this year came in the form of a successful tender for our Peile House service in Sheffield which saw Sheffield YWCA being awarded a further 5-year contract to deliver hostel accommodation to homeless and vulnerable young women and children in Sheffield.

We have continued to support a number of student social work placements again this year, something that adds value not only to the students who gain quality work experience, but also to the charity which benefits from the most up to date theoretical approaches and working practices that students bring.

This year saw the loss to the organisation of a long-standing Manager, Susan Phillips who had worked for the organisation since 2004. Sue moved onto a senior position within the local authority, and we wished her all the very best in her new role. This departure prompted a temporary change to our management structure while we piloted new ways of working, and we have now successfully filled the Manager post in Rotherham via internal promotion.

This year has seen the expansion of our life skills offer, with the commencement of a Virtual Learning Environment (VLE) project that will enable the organisation to take its currently paper-based NOCN accredited qualification programme online. We are currently working through the logistics of the new online platform which we anticipate to be fully operational towards the end of next year.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

This year we have retained all services, and have continued to use reserves to fund posts in all geographical areas to increase capacity and aid innovation. The board has continued again this year to utilise reserve funds to offset a portion of the costs of one of our services so that we can continue to deliver exceptional quality.

We have continued throughout the pandemic and beyond to develop and expand our volunteer programme with the addition of a range of new opportunities to include remote befrienders, administration volunteers and support work volunteers. The programme adds capacity to services, offers an enhanced level of service to clients and develops the skills and confidence of volunteers.

Our Sheffield charity shop, despite the extended periods of closure necessitated by the pandemic at the beginning of the year, continues to make a considerable financial contribution towards our Peile House Project. We have retained a skilled and loyal group of Charity shop volunteers who returned to us post Covid.

The organisation has further embedded our accredited training programmes, wellbeing activities and the key principles of our Psychologically Informed Environment strategy this year. We have trained a number of our own staff to deliver the nationally recognised mental health intervention WRAP, and have been able to utilise this specialism to raise funds through external training in schools, colleges and businesses.

Sheffield YWCA continues to evidence the quality of its services and its organisational infrastructure by maintaining the ISO 9001 Quality Management mark, and this year we have again maintained full compliance under the new 9001/15 standards. The organisation also renewed its CHAS (Contractors Health and Safety Assessment Scheme) certification which is a recognised standard evidencing the organisations compliance with Health and Safety law and practice.

Sheffield YWCA continues to contribute on a strategic level to the policies affecting vulnerable young women and families at local, national and international levels, and the organisation continues to be represented on many different boards, strategic housing partnerships, council governance structures, community safety networks and children and young people’s services.

The Board would like to thank the organisations management team, our dedicated and skilled staff; our volunteers and our partners for their support over the year. Without their skills, hard work and commitment we would be unable to continue the vital work that we do to support the most vulnerable women, children and families in Yorkshire.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

The income and expenditure of the charity for the year and the state of affairs at the end of the year are shown on pages 7 to 9. The directors are satisfied with the position of the charity at the year end. The financial statements show a surplus for the year of £68,167 and total funds of £1,530,073, being an increase in funds over the period of 1%.

The charity aims to maintain the return-on-investment funds, and the value of the investments increased in the year by £520. The charity manages its investments with the help of an investment adviser and the investment income is budgeted to support salary costs. The charity aims to preserve sufficient funds to enable it to continue its normal activity.

The charity's main funders are local councils through Supporting People grants and housing benefits. This income enables the charity to provide accommodation and support for the residents. It is only with this funding that the charity has been able to meet its objectives as stated in Achievements and Performance.

The directors have reviewed the charity's finances and consider that adequate resources are available to fund its activities for the foreseeable future.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The directors also consider that a further reserve based on four months expenditure is sufficient to meet the Association's obligations in the event that services are completely decommissioned. The directors have provided for £505,515 of these potential obligations in the Contingency and Redundancy Fund, they have also provided various other designated funds which at the year-end total £69,901. There is also £11,791 of funds at the year-end which has been given for restricted purposes. The balance of £942,866 is unrestricted funds at the year-end but of this £931,085 can only be realised by disposal of tangible fixed assets.

Sheffield YWCA is committed to providing services to vulnerable young women, children and families and intends to grow its business in the future in line with the organisation's values and objectives. Through open, competitive tendering and external fundraising, YWCA plans to diversify its income stream in order to future proof its services and further secure the organisation.

The Board would like to thank the organisation's management team, our dedicated and skilled staff and our partners for their support over the year. Without their skills, hard work and commitment we would be unable to continue the vital work that we do to support the most vulnerable women, children, and families in Yorkshire.

Structure, governance and management

The Sheffield Young Women's Christian Association is a registered charity (Charity number: 1080111), and a company limited by guarantee (Company number: 03866756). The charity operates from 11 Fleming Gardens, Rotherham.

The Association was incorporated on 27th October 1999 and is governed by the Memorandum and Articles of Association. All powers of management and control are vested in the executive committee.

The directors/trustees are appointed at the annual general meeting. They meet periodically to consider and formulate policy. They are also responsible for the management of the charity, including the appointment and discharge of staff, the making and altering of rules, and the authority for all expenditure.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D Forrester

Ms K L Jackson Ms J Jesper Ms W Peake Mr M White (Appointed 14 June 2022)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the company's contractual and other legal obligations.

Trade creditors of the company at the year end were equivalent to XX day's purchases, based on the average daily amount invoiced by suppliers during the year.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

[Details of organisational structure.]

Auditor

In accordance with the company's articles, a resolution proposing that Knowles Warwick Audit Services Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Ms J Jesper Director

13 December 2022

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors of Sheffield Young Women's Christian Association for the purpose of company law, are responsible for preparing the Trustees' 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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;

• 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; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity 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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

Opinion

We have audited the financial statements of Sheffield Young Women's Christian Association (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, 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 (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial 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 collectively, may cast significant doubt on the charity’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 annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the 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 (UK) 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We assessed the susceptibility of the company’s financial statements to material misstatement, including 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.

In response to the risk of revenue recognition, we;

• Performed analytical procedures to identify unusual transactions; and

• Performed detailed substantive testing across all revenue streams

In response to the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures 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.

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

• Enquiring of management as to actual and potential litigation and claims; and

• Reviewing correspondence with HMRC and other relevant parties.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Knowles (Senior Statutory Auditor) for and on behalf of Knowles Warwick Audit Services Limited

22 December 2022

Chartered Accountants Statutory Auditor

Charlotte House 500 Charlotte Road Sheffield S2 4ER

Knowles Warwick Audit Services Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2022 2022 Notes £ £ £ Income from: Donations and legacies 3 7,960 - - Charitable activities 4 1,451,169 - - Investments 5 520 - - Total income 1,459,649 - - Expenditure on: Charitable activities 6 1,408,706 21,099 2,361 Other 10 1,144 - - Total expenditure 1,409,850 21,099 2,361 Net gains/(losses) on investments 11 2,561 - - Net incoming/(outgoing) resources before transfers 52,360 (21,099) (2,361)	Total Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2021 2021 2021 £ £ £ £ 7,960 2,032 - - 1,451,169 1,484,480 - - 520 1,682 - - 1,459,649 1,488,194 - - 1,432,166 1,415,249 8,628 998 1,144 - - - 1,433,310 1,415,249 8,628 998 2,561 (1,204) - - 28,900 71,741 (8,628) (998)	Total 2021 £ 2,032 1,484,480 1,682 1,488,194 1,424,875 - 1,424,875 (1,204) 62,115

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2022 2022 Notes £ £ £ Net incoming/(outgoing) resources before transfers 52,360 (21,099) (2,361) Gross transfers between funds (35,000) 35,000 - Net income/(expenditure) for the year/ Net movement in funds 17,360 13,901 (2,361) Fund balances at 1 April 2021 925,506 561,515 14,152 Fund balances at 31 March 2022 942,866 575,416 11,791	Total Unrestricted Unrestricted Restricted funds funds funds general designated 2022 2021 2021 2021 £ £ £ £ 28,900 71,741 (8,628) (998) - (25,241) 25,241 - 28,900 46,500 16,613 (998) 1,501,173 879,006 544,902 15,150 1,530,073 925,506 561,515 14,152	Total 2021 £ 62,115 -
		62,115 1,439,058
		1,501,173

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

BALANCE SHEET

AS AT 31 MARCH 2022

Notes Fixed assets Tangible assets 12 Investments 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets Income funds Restricted funds 19 Unrestricted funds Designated funds 20 General unrestricted funds	2022 £ £ 931,085 49,351 980,436 101,737 593,712 695,449 (82,901) 612,548 1,592,984 (62,911) 1,530,073 11,791 575,416 942,866 1,518,282 1,530,073	2021 £ £ 681,535 46,790 728,325 165,558 733,089 898,647 (54,911) 843,736 1,572,061 (70,888) 1,501,173 14,152 561,515 925,506 1,487,021 1,501,173

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2022

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 13 December 2022

Ms J Jesper Trustee

Company registration number 03866756

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2022

2022 Notes £ £ Cash flows from operating activities Cash generated from operations 24 149,575 Investing activities Purchase of tangible fixed assets (281,825) Proceeds on disposal of tangible fixed assets - Investment income received 520 Net cash used in investing activities (281,305) Financing activities Repayment of bank loans (7,647) Net cash used in financing activities (7,647) Net decrease in cash and cash equivalents (139,377) Cash and cash equivalents at beginning of year 733,089 Cash and cash equivalents at end of year 593,712	2021 £ (13,327) 622 1,682 (27,288)	£ 11,301 (11,023) (27,288) (27,010) 760,099 733,089

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Sheffield Young Women's Christian Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Peile House, 255 Pitsmoor Road, Sheffield, S3 9AQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grants are credited to revenue when receivable. They are considered receivable when the conditions for receipt of the grant are deemed, by the trustees, to have been met.

Interest on funds held on deposit is included when receivable and this is normally upon notification of the interest paid or payable by the Bank.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% Straight line Fixtures and fittings 20% reducing balance/20% straight line for computer equipment Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

3 Donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Donations and gifts	7,960	2,032

In 2022, of the donations and gifts, £nil (2021: £nil) was attributable to designated income funds with the balance of £7,959 (2021: £2,032) adding to restricted funds. There was no restricted income in 2022 or 2021.

4 Charitable activities

Supporting people grants Charitable rental income Other funding	2022 £ 745,835 536,610 168,724 1,451,169	2021 £ 747,967 589,825 146,688
		1,484,480

5 Investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Interest receivable	520	1,682

All investment income received is allocated to unrestricted funds.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

Staff costs Depreciation and impairment Rent and rates Light and heat Insurance Repairs and renewals Property service charge Other direct costs Legal and professional fees Finance costs Office costs Share of support costs (see note 7) Share of governance costs (see note 7) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds	2022 £ 1,003,127 11,707 143,062 14,235 17,927 17,390 44,971 64,546 14,865 2,563 38,940 1,373,333 53,385 5,448 1,432,166 1,408,706 21,099 2,361 1,432,166	2021 £ 986,190 11,405 36,567 15,840 15,537 56,744 116,893 30,881 16,308 3,532 82,583
		1,372,480 48,795 3,600
		1,424,875
		1,415,249 8,628 998
		1,424,875

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Support costs

Support costs Governance costs £ £ Staff costs 33,961 - Depreciation 19,424 - Audit fees - 5,448 53,385 5,448 Analysed between Charitable activities 53,385 5,448	2022 Support costs Governance costs £ £ £ 33,961 33,961 - 19,424 14,834 - 5,448 - 3,600 58,833 48,795 3,600 58,833 48,795 3,600	2021 Basis of allocation £ 33,961 14,834 3,600 Governance 52,395 52,395

Governance costs includes payments to the auditors of £5,448 (2021- £3,600) for audit fees.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

Managerial Administrative Project work Total Employment costs Wages and salaries Social security costs Other pension costs	2022 Number 6 4 45 55 2022 £ 918,636 74,097 44,355 1,037,088	2021 Number 6 4 38
		48
		2021 £ 903,778 73,343 43,030
		1,020,151

During the year, there were 29 part time staff (2021: 19 part time staff) and 25 full time staff (2021: 27 full time staff).

The estimate of the equivalent number of full time staff was 35 employees (2021: 28 employees).

There were no employees whose annual remuneration was more than £60,000.

10 Other

	Unrestricted	Total
	funds
	general	£
	2022	2021
Net loss on disposal of tangible fixed assets	1,144	-

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

11 Net gains/(losses) on investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2022	2021
	£	£
Gain/(loss) on sale of investments	2,561	(1,204)

In 2022, of the revaluation of investments, a £2,561 gain (2021: £1,204 loss) was attributable to unrestricted funds. There were no restricted gains or losses in 2022 or 2021.

12 Tangible fixed assets

Freehold land and buildings Fixtures and fittings Motor vehicles £ £ £ Cost At 1 April 2021 861,704 175,746 2,100 Additions 259,519 22,306 - Disposals - (7,535) - At 31 March 2022 1,121,223 190,517 2,100 Depreciation and impairment At 1 April 2021 209,356 148,134 525 Depreciation charged in the year 19,425 11,312 394 Eliminated in respect of disposals - (6,391) - At 31 March 2022 228,781 153,055 919 Carrying amount At 31 March 2022 892,442 37,462 1,181 At 31 March 2021 652,348 27,612 1,575

Total £ 1,039,550 281,825 (7,535) 1,313,840 358,015 31,131 (6,391) 382,755 931,085 681,535

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

13 Fixed asset investments

Cost or valuation At 1 April 2021 Valuation changes At 31 March 2022 Carrying amount At 31 March 2022 At 31 March 2021 14 Debtors Amounts falling due within one year: Trade debtors Prepayments and accrued income Amounts falling due after more than one year: Prepayments and accrued income Total debtors 15 Loans and overdrafts Bank loans Payable within one year Payable after one year	Unlisted investments £ 46,790 2,561 49,351 49,351 46,790 2022 2021 £ £ 89,517 113,270 12,220 13,021 101,737 126,291 2022 2021 £ £ - 39,267 101,737 165,558 2022 2021 £ £ 71,501 79,148 8,590 8,260 62,911 70,888

Loans were taken out to acquire domestic properties and are secured against the properties that they relate to.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

16 Creditors: amounts falling due within one year Notes Bank loans 15 Other taxation and social security Deferred income 18 Trade creditors Other creditors Accruals and deferred income 17 Creditors: amounts falling due after more than one year Notes Bank loans 15 18 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 April 2021 Released from previous periods Resources deferred in the year Deferred income at 31 March 2022	2022 £ 8,590 16,414 28,117 12,306 6,983 10,491 82,901 2022 £ 62,911 2022 £ 28,117 2022 £ 28,117 13,333 (13,333) 28,117 28,117	2021 £ 8,260 16,679 13,333 5,581 5,384 5,674
		54,911
		2021 £ 70,888
		2021 £ 13,333
		2021 £ 13,333
		- - 13,333
		13,333

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

	Balance at	Resources	Balance at	Resources	Balance at
	1 April 2020	expended 1 April 2021		expended	31 March
	£	£	£	£	2022 £
Building fund	7,343	(817)	6,526	(817)	5,709
Fleming Gardens furniture fund	935	(181)	754	(145)	609
RMBC Buy-to-let	6,872	-	6,872	(1,399)	5,473
	15,150	(998)	14,152	(2,361)	11,791

The building fund represents grants received and is released at an annual rate consistent with the depreciation rate of the relevant property.

The Fleming Gardens furniture fund represents grants received for furnishings. It is released at an annual rate consistent with the depreciation of the relevant furniture.

The RMBC grant was obtained to pay for expenditure incurred on the buy-to-let properties and is to be split between the proposed 10 properties. Any overspend is to be met from unrestricted funds on a property-byproperty basis.

Sufficient funds are held to enable all the funds to be applied in accordance with any restrictions.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

20 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at 1 April 2020 Resources expended £ £ Maternity fund 505,515 - Contingency and redundancy fund 15,345 (8,628) Major repairs fund 7,399 - IT equipment fund 16,643 - 544,902 (8,628)	Transfers Balance at 1 April 2021 Resources expended £ £ £ - 505,515 - 11,283 18,000 (8,286) 12,601 20,000 (10,412) 1,357 18,000 (2,401) 25,241 561,515 (21,099)	Transfers Balance at 31 March 2022 £ £ - 505,515 - 9,714 20,000 29,588 15,000 30,599 35,000 575,416	Transfers Balance at 31 March 2022 £ £ - 505,515 - 9,714 20,000 29,588 15,000 30,599 35,000 575,416
			575,416

The maternity fund has been designated by the trustees to meet future maternity costs.

The contingency and redundancy fund has been designated by the trustees for the purpose of meeting any future redundancy costs or any other costs in the event that the association has to cease its activities.

The major repairs fund has been designated by the trustees to cover any large-scale property repairs.

The IT equipment fund has been designated by the trustees for any major overhaul of computers required for the charity.

The nature of the expenditure on the above four funds is not specific in timing and therefore no precise date can be attributed as to when these costs will be incurred.

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

21 Analysis of net assets between funds Unrestricted funds Designated funds Restricted funds 2022 2022 2022 £ £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 908,289 9,606 13,190 Investments 49,351 - - Current assets/(liabilities) 48,137 565,810 (1,399) Long term liabilities (62,911) - - 942,866 575,416 11,791	Total Unrestricted funds Designated funds 2022 2021 2021 £ £ £ 931,085 667,383 - 49,351 46,790 - 612,548 282,221 561,515 (62,911) (70,888) - 1,530,073 925,506 561,515	Restricted funds 2021 £ 14,152 - - - 14,152	Total 2021 £ 681,535 46,790 843,736 (70,888) 1,501,173

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SHEFFIELD YOUNG WOMEN'S CHRISTIAN ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

22 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years	2022 £ 8,000 8,921 16,921	2021 £ 9,645 1,411
		11,056

23 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

24 Cash generated from operations

24	Cash generated from operations		2022	2021
			£	£
	Surplus for the year		28,900	62,115
	Adjustments for:
	Investment income recognised in statement of financial activities		(520)	(1,682)
	Loss on disposal of tangible fixed assets		1,144	-
	(Gain)/loss on disposal of investments		(2,561)	1,204
	Depreciation and impairment of tangible fixed assets		31,131	25,915
	Movements in working capital:
	Decrease/(increase) in debtors		63,821	(27,756)
	Increase/(decrease) in creditors		12,876	(22,561)
	Increase in deferred income		14,784	13,333
	Cash generated from operations		149,575	50,568
	Difference		-	(39,267)
	Per cash flow statement page		149,575	11,301
25	Analysis of changes in net funds
		At 1 April 2021	Cash flowsAt 31 March 2022
		£	£	£
	Cash at bank and in hand	733,089	(139,377)	593,712
	Loans falling due within one year	(8,260)	(330)	(8,590)
	Loans falling due after more than one year	(70,888)	7,977	(62,911)
		653,941	(131,730)	522,211

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