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.
1
## **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.
2
## **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.
3
## **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
4
## **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.
5
## **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.
6
## **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.
7
## **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.
8
## **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|
|---|---|---|
9
## **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.
10
## **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|
|---|---|---|
11
## **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**
12
## **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|
|---|---|---|
13
## **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.
14
## **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.
15
## **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.
16
## **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.
17
## **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|
18
## **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.
19
## **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|-|
20
## **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|
|---|---|
21
## **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.
22
## **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|
23
**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.
24
## **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.
25
## **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|
|---|---|---|---|
26
## **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|
27