Company Registration No. 3338021 Charity Registratlon No. 1081829 Sharrow Communit forum Limited (A Company limitsd by guarantee) Annual Report and flnanclal statements for the year ended 31 March 2024
Sharrow Community Forum Limited (A Company limited by guarantee) Contents Page Trustees, annual report (incorporating the directors, report) Report of the independent auditor 9-12 Statement of Financial Activities (including income and expenditure account) 13 Balance sheet 14 Notes to the financial statements 15-25
Sharrow Community Forum Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 The management comtnittee. which comprises the trnstees (who are also the director5 of the company for the purposes of company law). presents its report together with the audited financial statements for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE INFORMATION Charity Name Sharrow Community Forum Limited Working Name Sharrow Community Forum Charity Number 1081829 Company Number 3338021 Start of financial year End of financial year l April 2023 31 March 2024 Correspondence address and registered olCe The Old Junior School South View Road Sheffield S7 IDB Email reception@sharrowcf.org.uk Trustees Paul McGrath - Chairperson Tilus Abayomi - Treasurer Dr Julie Pearn - Secretary Jean Cromar Simon Hyacinth (From 27.09.23) Nadeem Iffat (From 27.09.23) Katherine Ivison (From 27.09.23) Abdullah Khalid (From 27.09.23) Irfan Khan (From 27,09.23) Mohammad Maroof (From 27.09.23) Maggie O'Neill Iffat Nadeem (Co-opted 17.01.24) Chief Executive Jonathan RoberLq Bankers Unity Trust Bank 4 Brindley Place Birniingham Bl 2JB Auditor Peter Winter MA FCCA FCIE Chartered Certified Accountant Page I
Sharrow Community Fornm Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 . continued The trustees, who are also directors under compliny law. present their report and the financial statements for the year ended 31 March 2024. The trlistees confirm the annual Irustees, report and financial statements of the Charity comply with the current 8tatutOry Tequirement8. those of the Chartty's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). This report h&s been prepared taking advantage of the exemptions for small companies within Part 15 of the Companies Act 2006. Since the Charity qualifies as small under section 383, there is no requirement for the strategic report necessary for medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013. STRUCTURE, GOVERNANCE & MANAGEMENT Governing Document The Sh(lOW Community Forum Limited was incorporated on 21 March 1997 under a Memorandum of Assoclation and is governed under it% Articles of Associalion, as amended by special resolutions dated 18 September 1999, 1 Augusit 2000 and 18 October 2003. It is a private company limited by guar<intee and cach member of the company is required lo contribute an amount not exceeding £1 should the company be wound up while they are a member, OT Within one year after they cease to be a member. The constitution has provision for members, either associate or corporate and trustees. Trustee Recruitment and Appointment We appoint new tru,8tees dt our AGM e1h year. Prior to the AGM we circulate inforniation to members to make them aware of the opportunity to become a trustee and invite them to nominate themselves. At the AGM. elections take place for all new tThstee places. with one vote per member. The constitution has provision for members, either associate or corporate and trustees, One third of the Trustees must retire at each AGM. Any trustee retiring may offer herselfthimself for re-election or further co-option, unless shelhe hail hdd six continuous years in office, in which case shelhe may not seek re-election or further co-option for at least one year. The trustees when complete consist of up 19 individual members or repre8entative8 of member organisations elected at each AGM. When their number reaches 19, the trustees should take all reasonable efforts to en.sure that at least 10 of them are local residenls, at least 5 are from minority groups and at leii¥t 2 represent private businesses. Trustee Induction and Training In selecting persons to be appointed as trustees, the trustees take into account the benefits of appointing a person who through residence, occupalion, employment or otherwise has special knOwlede of the Area of Benefit or who is otherwise able by virtue of his or her personal or professional qudlifications to make a contribution to the pursuit of the objects or the management of the charity. Every trustee must sign a decl<irdtion of willingness to act &8 a tnistee of the charity before they are eligible to vote at any meeting of the trustees. Trustees are provided with the Charity Commission's guide "The Essential Trustee." What you need to know together with a copy of the Memorandum of Association and the latest fInancial statements. Page 2
Sharrow Community Forum Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 . continued Organisational structure The activities of the Forum are overseen by the trustecs and they delegate the day to day running of the Forum to the Chief Executive Officer, Jonathan Roberts. The financial regulations deterniine the decision making responsibilities in relation to expenditure, with trustees receiving regular financial reports. Financial oversight is maintained by the trustees. Other decisions are divided between tnjstees and staff on the basis of the trustees setting policy and direction whilst staff govern implementation. For example, the trustees agree the budget for the year in April but staff decide how to spend within budget. Trustees will decide on the priorities for work such as working with a particular part of the community but staff are responsible for deciding how to enact it. The financial regulations detennine the decision making responsibilities in relation to expenditure, with trustees receiving regular financial reports. Financial over%ight is maintained by the trustees. Rlsk management The Irustees review the major risks which the charity faces on an annual basis and believe that the maintenance of reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. OBJECTIVES AND ACTIVITIES Objects The principal activity of the charity is that of facllitating the social, economic and environmental regeneration of the area by encouraging and supporting Pilrtnership working between and within the cotnmunity, voluntary, statutory and business sector. There has been no chdnge in this activity during the year, Our mission statement remains: SCF.. strengthening communities in Sharrow: improving the quality of life - building the community's voice - bringing people together. We have adopted the following objectives to meet this mission: Attract and maintiiin public and Privdte re.%ources in the area Foster a vibrant, diverse and active community Improve community use of the nalural and built environment Iiiipruv¢ IuLdl us¢ uf publiL s¢rviLcs Improve our sustainability Our work is underpinned by the following values: Promoting equality of acccs.8 to facilities and resources Cultural diverslty respected and celebrated Supporting social justice and fairness Accountability through transparency Encouraging innovation, change and creativity Page 3
Sharrow Community Forum Limitsd (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 continued Responsive to and guided by the community When recording or collecting evidence of our activities, staff are expected to state how the activity meets the particular objective(s). The evidence is then collated in a M<inagement report for trustee ffleetings and each September is synthesised into an Annual Report for presentaiion at the AGM, when we report on our achievements in relation to our mission and objectives. We produce an annual report on our activities and achievements to coincide with our financial accounts As part of this process we strive to ask our stakeholders to give us feedback on how they feel we have perfomied against our objectives. This inforniation is then used to plan our work for the next year. Statement of Public Benefit The trustees have referred to the guidance conlained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in pl(Inning t'uture activities. In particular, the Irustees consider how planned activities will contribute to the aims and objective&i that have been 8et and ensure services continue to be of benefit to the general public. The trustees confimi that they have complied with their du(ies under section 17 of the Charities Act 2011 with regard to public benefit. ACHIEVEMENTS AND PERFORMANCE Our annual report will provide full details of the activities we have undertaken this year, and this is available from September 2024, but the following are examples of some of the activities, work and partnerships SCF have been involved in during 2023-24. SCF continues to work towards achieving its guiding principles (see above). From April 2023 through to March 2024 there have been a number of exciting developments within the projects that will drive the narrative for the forthcoming year. There are 5 key areas of work that provide the focus of much of our work and are explored in more detail throughout the report: Facilities Management Sharrow Community Forum continues to work to keep buildings for community use that are affordable and accessible. Sharrow Community Forum (SCF) is currently under contract with Sheffield City Council. Children and Young People's Directorate to provide a management service for the Old Junior School (OJS) on South View Road. This means that SCF undertakes to provide cleaning. reception, organise security and basic maintenance on the building for pernianent tenants and groupslindividuals taking up sessional lets. OJS continues to host a wide variety of classes and groups. highlighting the success of the building in continuing to attract community usage. The sessions include French and Spanish classes, sewing, art, drama. theatre and writing workshops, There are a number of musical projects. choirs and young people's activities contributing to the busy and vibrant building. Page 4
Sharrow Community Forum Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 . continued SCF gained a 25-year lease for the Highfield Adventure Playground in 2021, primarily with a view to enabling opportunities to look for capital funding to support refurbishment andlor replacement of outdoor play equipment. As reported at the latter part of the 2023 year-end report thi% has allowed SCF to lever in just over £2.5m that will pay for a 3-storey building on the site. set up a cafelkiosk with a public toilet for people using the park. Planning pern]ission and authorily to build on the land was gained in May 2023 and tender documents were released in January 2024. By February. SCF had appointed Jarvale Construction (a local company based in Dronfield). It is estimated that the build will be completed in early 2025. Employability and volunteering SCF continues to offer work support with a range of support services and a range of volunteering Opiions a¢ro.8s all project.8 with a new volunteer training programme being put in place. A new contract to deliver employment support service for Hong Kong Emigres was awarded in February 2024. Families, Children and Young people SCF continues to develop projects in and around Highfield Adventure Playground. The Youth and Play provision have developed markedly over the l&st 12 months and alongside dedicated funding for 2024-25 through the Youth Investment Fund can develop services to gain qudlity standards in both areas. The number of activities dvailable for children and young people's participation has incredsed and several new initiatives are pldnned during 2024. The key effect will be to develop young people's confidence and to allow their views and voice to be heard. Thi8 1% especially important to .%ecure their ownership in the new building at Adventures. Community development and engagement Community development and engagement-through continuation from the community organising programme and development of projects in buildings SCF manages and supports, On-going discussions continue with local residents and service providers in the area to deliver projects and ideas for Sharrow. The commissioned Masretplan for Mount Pledsant Park has delivered redl change and continues to evolve. Improvements in the park have allowed a number of the most important issues to be positively effective. the new and improved lighting scheme, better lines of sight and more activity on the park has added to up to a feeling that it is a safer park to u,se and the communiiy is beginning to reap the benefits. The next planned dnd called tor changes will continue to enhance the public realm and improve the facilities across the park. For instance, the build will provide public amenities as mentioned above (Cafélpublic toilets), which will allow the park to be better used and to become d destin¢ltion rather thiin something more transilory. The original public consultations demon.strated a desire/need for better play facilities on the park and for ihe well-used cricket nel,5 to be refurbished, C.Trproducing programmes of work with Sheffield City Park,8 and Countryside Team will allow better traction and opportunities to explore more expansive change. Holiday Activities and Food (HAF) School holidays Cdn be pressure points for some families because of increased costs. such as food and childcare, and reduced incotnes. For some children that can lead to a holiday experiencc gap. with children from disadvantaged families less likely to access organised out-of-school activities. more likely to experience 'unhealthy holidays, in terms of nutrition and physical health and are more likely to experience social isolation. Page 5
Sharrow Community Forum Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 . continued SCF commissions local organisations across the Rivelin to Sheaf area with over 40 orgdllisdtions engaged in delivery across the partnership since its inception. providing a strong network of provision of enrichment activities and nutritional food. Additionally, SCF has supported training and development activities for partner organisations as well as distributing capital funding across the partnership. Having the opportunity to support enrichment and nutrition programmes such as HAF are integral to future programmes of work. The HAF programme has seen SCF distributing large amounts of funding to a host of local organisations and supporting delivery and infrastructure. It is a theme that fornis part of SCF'S responsibility to act as an anchor organisation; building local capacity to deliver p081tive impact to support local people at the heart of its work. FINANCIAL REVIEW The details for 2023-24 are set out in the Statement of Financial Activities on page 12. The charity generated a net sulUS of £286,281 (2023.. Deficit £24,752) for the yedr under review. Capital expenditure on the Adventure Playground 'the Project, amounted to £317.652. It was expected that the charity would generate a surplu,8 for 2023-24 which would be re-invested in the Project. The Project is fully funded and is expected to be completed in 2025. Future income streams for other activities remain uncertain po%t-pandemic and any expenditure, therefore, needs careful consideration. The trustees continue to monitor the result% on a monthly basis and set realistic budgets for future year8. Fundraising The trustee8 have taken note of the directive made by the Fundraising Regulator and consider that they are compliant. The charity ha5 no contracts or other arrangements with professional fundraisers or commercial participators and has received no complaints about tundraiser8 apparently acting on behalf of the charity. Fundraising activities may be undertaken by staff or volunteers, The charity management is always made aware of these activities and ensure that proper fundraising practice is followed and that there is no risk to the chdrity's reputdtion or vulnerable people. Reserves policy It is the policy of the company that unrestrtcted funds which have not been designated for a specific use should be maintained at a level equivalent to between ihree and six months, nornidl operational expenditure. At 31 March 2024. free reserves (unrestricted reserves £465,415 less fixed assets £323,604) amoounted to £141.81 l. 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 coniinue the company's current activities while consideration is given to ways in wIiiLli additiolial fuiids i)iay b¢ I'iliS¢d. PLANS FOR FUTURE PERIODS The trustees are aware that grant funding for community engagement work in the future 18 going to prove harder to access. As a result, the trustees are focused on a stralegy of trying to secure new sources of income to support our aims whilst making sure ihat the services we already provide run on a full cost recovery model. Page 6
Sharrow Community Forum Limited (A company limited by guarantee) Report of the Management Committee for the year ended 31 March 2024 . continued In tenns of work, Trustees are determined to continue a varied programme of engagement based around children and young peoples, services, the built environment, and training & skills. whilst making the most of the Old Junior School and Adventure Playground facilities. This also signals our intention of looking at the lease situation at the Old Junior School. Long terni planning is needed to ensure community assets remain in place and allow local people opportunities to develop projects in buildings that are affordable and accessible. We will continue to undertake work that brings people together and strengthens communities in Sharrow for public benefit. Statement of Trustees, Responsibilities Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and applica(ion of resources. including the income and expenditure, of the charitable company for that period. In preparing those financial statements the trustees are required to: select 8Ultable accounting policies and apply them consltstently. make judgements and estimates that are reason<ible and prudent, state whether applicable accounting standards and .statements of recomrnended practice have been followed.8ubject to any departures disclosed and explained in Ihe financial statements; and prepare the financial statements on the 80in8 concern ba818 unless it is appropriate to presume thdt the Forutn will not continue in operation. Audilor Peter Winter MA FCCA was appointed as the charity's auditor during the year and he has indicated his willingness to act in this capacity for the ensuing year. This report has been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), with FRS 102 and with the requirements of Èhe Companies Act 2006 and the Charities Act 2011. Approved on behalf of the board of trustees on 13 August 2024 and .signed on its behalf by.. P<LuI fvILOidil Chair Page 7
Independent auditor's report to the trnstees of Sharrow Community Forum Limited Opinion We have audited the financial statements of Sharrow Community Forum Limited ('the charity,) for the year ended 31 March 2024 which comprise the Stlltetnent of Financial Activities. Balance Sheet. notes to the financial sllilemenls and a summary of significant accounting policies. The Financial reporting tratnework that has been applied in their preparation is applicable Idw and United Kingdoni Accounting Stand<ird8. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepled Accounting Practice). In our opinion, the fin<incial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming re.80urces and application of resources for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praciice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for audlt 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 Tesponsibilities in aLcoTdance 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 is appropridte in the prepardlion of the financial statements. Based on the work we have perfomied. we have not identifjed any material uncertainties relating to events or conditions thal, 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 directors with respect to going concern are described in the relevant sections of this report. Other infornjation The other information compri.gcj thc infoi'm&tiOll IllLludcd iii thi iiiiiiual ILPOIt, LLluluJiiig tlic t1tC' IfPOIt, other than the financial statements and our auditor's report thereon.The trustees are responsible for the other information contained within the annu411 report. Our opinion on the financial statements docs not cover the other inforniation and. except to the extent otherwise expliciltly stated in our report. we do not express any forTn of assurance conclusion thereon. Page 8
Independent auditor's report to the trustees of Sharrow Community Forum Limited .continued Our responsibility is to read the other informitltion and. in doing so. consider whetherthe other information is materially inconsistent with the financial statetnents or our knowledge obtitiined in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencie.s or apparent material misstatements. we are required to detennine whether this gives rise to a Tnaterial mi$8tatem¢nt in the financial statements themselves. If. based on the work we have perforTned, we conclude that there is a material misstatemcnt of thi5 Other infonnation, 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 In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material mis.statements in the trustees, report. We have nothing to report in re.8pect 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 inforniation given in the trustees, report is inconsistent in any material respect with the financial statements. or sufficient accounting records have not been kept. or the flnancial statements are not in agreement with the accounting records., or we have not received all Ihe inforniation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees, Responslbilities Siatement set out on page 8 the trustees a responsible for the preparation of the financial staiements and for being Sdtisfied that they give a true and fair view, and for such internal control as the trustees detern]ine is necessary to enable the preparalion of financial statement% that are free from m¢aterial misstatemenl, whether due to fraud or error. In preparing the financial statements. the trustees are re%pon8ible for a8sessing the charity's ability to continue as a going concern, disclosing, as applicanble. matters related to going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charity 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 145 of the Charities Act 201 l and report in accordance with regulations made under 154 of that Act. Our objeclives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or erri)r, and ti) issue an auditor's report. that include,% nur 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 materiitil tnisstatement when it exists. Misstatements can arise from fraud or eor and are considered material if. individually or in aggregate. they could reasonably be expected to influence the econotnic decisions of users taken on the basis of these financial statements. Page 9
Independent auditor's report to the trustees of Sharrow Community Forum Limited .continued The extent to which our procedures are capable of detecting irregularities, including fraud is deiailed below: The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment in which it operates, we detennined that the laws and regulations which were most significant included FRS 102, Charities Act 2011, and Health and Safety regulations.we considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management's incentives and opportunities for frauduleni manipulalion of the financial statements (including the risk of override of controls), and deterniined that the principal risks were related to the recognition of income and the pobting of inapproprtdte journal entries to improve the chdrity's result for the year and management bias in key accounting estimates. Audit procedures performed by the engagement flrm IncIuded: Di8cus5ions with management and those responsible for legal compliance procedures within the charity to obtain an understanding of the legal and regulatory framework applicable to the charity and how the charity complies with that framework. including consideration of kTLown or su%pected instances of fraud and non-compliance with IdW% dnd regulations. reviewing tninutes of trustee meetings. idenlifying and dssessing the design effectivenes.s of controls that management h&s in place to p vent and detect fraud and non-compliance with laws and regulations; Challenging assumptions and judgements made by management in their significant accounting etritimates; identifying and testing journal entries. in particular any journal entries posted with unusual account combinatlons or posted by senior mdnagement. reviewing the ternis and conditions of material grant.% received and receivable; reviewing all mdterial contracts and testing sample.¥ of Suppliers, invoices in connection with the design and construction to date of the new three storey community building at Highfield Adventure Pldyground. Crowther Place, Sheffield. There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regLildtions is from the events and transdctions reflected in the financial statement5, the less likely we are to become aware of it. Also. the risk of not detecting a mdterial misstatement due to fraud is higher than the risk of not detecting one resulting from emr, as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentations. or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uklauditors/audit-assurancelauditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-aud iior's-responsibilitieg-for. Thls deserlpiion forTns part of our auditpr's report. Other matter The independent auditor's report on pages 9 to 12 refers to the financial stafrments for the year ended 31 March 2024. The independent auditor's report does not include the unaudited corresponding financial slatements for the year ended 31 March 2023. which were examined by an Independent Examiner. Page 10
Independent auditor's report to the trustees of Sharrow Community Forum Limited .continued Use of our report This report is made solely to the charity's ttustees, as a body, Én accordance with section 145 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditor's report dnd for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility to anyone other than the charity's trustees as a b(xly, for our audit work, for this report. or for the opinions we have formed. Peter Colin Winter MA FCCA FCIE (senior statutory auditor) Winter & Co Chartered Certified Accountants 20 Halldm Grange Road Sheffield S104BJ 13 August 2024 Winter & Co is eligible to act as an auditor in tern]s of section 1212 of the Companies Act 2006. Page 11
Sharrow Community Forum Limited (A company limited by guarantee) Statement of Financial Activities for the year ended 31 March 2024 Notes Unrestricted Restricted Funds Funds 2024 Tolal 2023 Total Incomin resources Incoming resources from generated funds Donations and legacie5 Charitable activities Covid Govt grants Investment Income 61,930 96,641 61,930 783,600 62,906 465,235 686,959 Total Incoming resources 158,571 686,959 845,530 528,141 Resources Ex ended Charitable activities 233,281 322,218 555,499 551,243 Governance Costs 3,750 3,750 1,650 Total Resources Expended 237.031 322.218 559,249 552.893 Net Incomingl{Outgoing) Resources for the year Transfers Funds at l April 2023 (78.460) 379.035 164.840 364,741 (379,035) 14.294 286.281 (24.752) 179.134 203,886 Funds at 31 March 2024 465,415 465,415 179,134 The Statement of Financial Activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Cotnpanies Act 2006. The notes on pages 14 to 27 forni an integral part of these financial statements. Page 12
Sharrow Community Forum Limited (A company limited by guarantse) Balance sheet as at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 10 323,604 5,952 Current assets Debtors Cash at bank and in hand 11 226,294 156.410 34,961 185,738 382,704 220,699 Creditors and accruals due within one year 16 (240.893) (47,517) Net current assets 141,811 173,182 Total assets less current liabilities Creditors.. amounts falling due after more than one year 465,415 179.134 Net assets 465,415 179,134 The funds of the charity Restricted Funds Unrestricted Funds 17 30,525 148.609 465,415 Total charity funds 465,415 179,134 The trustees knOwledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the smiill companies regime within Part 15 of the Companies Act 2006 dnd in accordance with ihe provisions of FRS 102. These financial statements were approved and issued by the Board on 13 August 2024 and signed on its behalf by.. Paul cGrath Trustee Company Registration Number: 3338021 The notes on pages 14 to 27 form an integral part of these fmancial statements. Page 13
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 Basis of Preparation General Inforn)ation The charity is a public benefit entity as defined by FRS 102 and a private company limited by guarantee. It is registered as both a company and a charity in England and Wales. The address of the registered office is The Old Junior School, South View Road. Sheffield S l19HQ. 1.1 Basis of accounting These financial statements have been prepared on the basis of historic cost in accordance with: a) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standaid applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). b) The Charities Act 2011 c) The Companies Act 2006 Going Concern There are no fftaterial uncertainties about the chilrity's ability to coTJtinue its norn]al operations. The trustees are aware that existing and confirnied funding may not be sufficient to cover existing spending in the long terni, so have taken and continue lo take steps to restructure the dctivities and costs so that objectives can be achieved and services delivered for the following year and beyond. The building project at Highfield Adventure Playground is being funded by the Youth Investment Fund. The trustees have appointed professional project managers, architects. surveyors and designers to ensure the project is completed succes8fully and adheres to budgeted cost%. The trustees consider they have taken all reasonable steps to minimise the risk of project delay8 and overruns. They consider it appropriate, therefore, to prepare these financial statement8 as a going concern. The financial statements are prepared in sterling, the functional currency of the charity. Judgements and key sources of estlmatlon uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that effect the amounts reported. These eslimates and judgernents are continually reviewed and are based on experience and other factors, including expectations of future evenls that are believed to be reasonable under the circumstances. 1.2. Leasing Rentals payable under operating leases are charged against income on a straight line basis over the lease terni. Page 14
Sharrow Community Forum Limited (A Company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued Accounting Polici&s 2.1 Forn) of Financial Statements a) Unrestricted funds Funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the Forum. b) Restricted funds Funds are subject to restrictions on their expenditure imposed by the donor or through the ternis of an appeal. c) Designated funds Designated funds comprise unrestricted funds that have been set aside by the tTu.stees for particular projects or commitments. 2.2 Incoming resources a) All income is rccognised once the Forum has evidence of entitlement to the income, it is probable that the income will be received and the amount receivable can be tneasured reliably. b) Where incoming resources have related expenditure (as with fundraisiing), the incoming resources and related expenditure are reported gross in the SOFA c) Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractudl requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. d) Income from grants is recognised when there is evidence of entitlement. the receipt of the grant IS probable and its amount can be measured reliably. e) Income from donated goods is medsured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be measured relidbly. The value of services provided by volunteers has not been included in these accounts. Funds received to be held on behalf of other organisations are not treated as income. D Bank interest is recognised when it is credited to the account. Page 15
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 , continued 2J Expenditure & Liabilities a) Expenditure is recognised on an accruals basis and includes IeCoverable VAT. b) Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Forum to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. c) Charitable expenditure comprises those costs incurred by the Forum in the delivery of its activities and services for its beneficiaries. It includes cost8 that can be allwated directly to such activities and those costs of an indirect nature necessary to support them. d) Governance costs include the costs of preparation and audit (2023 - independent examination) of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. e) The charily operates an auto enrolment compliant stakeholder defined contribution pension scheme with the People's Pension. together with a defIned contribution scheme with A viva. Contributions are charged in the accounts as they become payable in accordancc with the rules of the scheme. The Forum supports several small local charities by way of support grants. The Forum receives funding for this grant support from Sheffield City Council. The Forum manages the allocation of these funds on behalf of the Council. The Forum assesses the needs of these charities on dn annual basis and is confident these charities would not view the Forum's support as an open ended obligation. The annual commitment only is accounted for in these financial slatements. Page 16
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued 2.4 Tangible fixed assets and depreciation a) Short leasehold land and buildings Additions are capitalised at their historical cost when acquired during the year. All costs inCued to bring a tangible fixed asset into its intended working condition are included in the measurement of cost. The new three storey community building at Highfield Advenlure Playground, Crowther Place, Sheffield S7 IBJ is being built on a site where the charity holds a 25 year lease which commenced on l June 2021. The cost of the new build is its purchase cost, including dll fees for each stage of design and build, together with any incidental expenses. b) Fixtures, fittings and office equipment The cost of langible fixed assets is their purchase cost, logether with any incidental expenses of acquisition. or if gifted. their value on receipt. or where the cost is unavailable, fair market value. Individual items of equipment with a purchase price of £1,000 or less are written off when the asset is acquired. b) Depreciation is provided on all tangible assets. at rates calculated to write off the cost or valuation of each asset. over its expected useful life, the annual rates are as follows: Land Short leasehold buildings Fixtures. fittings and equipment Computers and IT equipment Land is not depreciated Straight line over the life of the lease 25fo Straight line 33% Straight Line The cost of the new leasehold building at Highfield Adventure Playground includes all incidental costs to bring the building into existence. Depreciation is only charged on new buildings when the building exists. Until the building exists, therefore, no depreciation is charged on pre-building incidental costs for project management, architectural design, engineering and planning. 2.5 Taxation As a registered charity, the Forum is exempt from tax on its income or gains arising on its charitable activities to the extent that these are applied to its charitable objects. Irrecoverable V AT is included in the asset cost or expense to which it relates. Page 17
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued 2.6. Financial instruments The chdrily has elected to apply the provisions of Section I I 'Basic Financial Instruments, and Section 12 '01her Financial Instrumenls 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 8et off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and 8ettle the liability simultaneously. 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 ihe transaction is measured al the present value of the future receipi8 discounted at a market rate of interest. Financial a8set8 cl&ssified 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 drrdngement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rdle of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at arnortised cost, using the effective interest rate method. Trade creditors are obligalions 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-cutTent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortibed cost using the effective interest method. Trustees, remuneration and related party transactions a) No remuneration was paid to any trustee for dcting as d trutritee. b) Travel and other expenses amounting to £Nil (2023 - £Nil) were reimbursed to trustees. Limited by Guarantee The charity is limited by guarantee and each member is required to contribute a sum not exceeding £1 should the company be wound up while they are a member, or within a year after they cease io be a member. Page 18
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 . continued Donatfions and legacies Unrestricted Restricted Funds Funds 2024 Total 2023 Total Donations, gifts and sundjies Grant for core activities 1.930 60.000 1,930 60,000 2.906 60,000 61,930 61,930 Previous year analys15." 62, 906 62,900 Page 19
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 . continued Incoming resources from charitable activities Unrestricted Restricted Funds Funds 2024 Total 2023 Total Charitable activities Room hire, cleaning and management contracts Regeneration projects 67,591 29,050 67,591 92,734 716,009 372,501 686,959 96.641 686,959 783,600 465,235 Previous year analysis.. 92. 734 372,501 465,235 Included within income relating to restricted regeneration projects are the following grants., Universal Youth Fund Community Champions Employability Grants less than £5000 Holiday and Food (HAF) Investment for Growth: Key Fund Locality Co-ordinator Fund Youth Investment Fund . Playground Pathways to Positive Change UK Shared Properity Fund (UKSPF) South Yorkshire Police Commissioner 13,882 25,000 27,227 4,473 206,779 23,000 13.882 25.000 27,227 4.473 206,779 23,000 6,000 37,250 64,815 4,835 201,741 15.000 38,860 364,742 16,165 5,691 364,742 16,165 5,691 4.000 686.959 686,959 372.501 All income is derived from activities within the United Kingdom, Grant8 are awarded to the charity on the basis of agreements containing conditions as to the puryloses for which funds may be expended. Where .such conditions are not met, it is possible that grants may become repayable to the fundin8 orsanisations. The trustees believe that all specified conditions have been met and no grants will be repayable except as otherwise provided for in these financial statements. Page 20
Sharrow Community Forum Limitsd {A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 . continued Unrestricted Funds Restricted Funds Total 2024 Total 2023 Charitable activities Administration of payroll Bad debts Bank charges Security and CCTV Cleaning & hygiene materials IT software and small items of equipment Small charitable donations Gross wages and employer's NIC Heat and light Hire of equipment Insurance Legal and professional fees Playground Office supplies and photocopier Water rates and refuse collection Rent Repairs Small grdnts payable Staff pension contributions Staff training Session and subcontract costs Subscriptions Telephone 1,373 1,326 637 8,054 4,609 16,752 1,373 1.326 637 8.054 4,609 16,752 1,475 103 618 3,533 12,321 160 283.284 1,748 10.220 6.128 13 4,095 21,744 1,837 8,161 9,842 147,687 10.108 600 20.004 3,799 3.763 129,789 881 3,637 6.335 13 148.554 278,343 881 3,637 6,335 13 7,222 2.302 8.361 932 5.938 4.488 629 25,578 1,334 3,091 7,222 2.302 8,361 932 172,917 11,173 629 25,578 1.334 3,091 166,979 6,685 233.281 322.218 555,499 551,243 Direct costs Support costs 134.277 98.391 322.218 456.495 664,482 98,391 78,984 23?.668 322.218 554,886 743,466 Analysis of previoiis year.. Direct and siipport costs 152,236 5YJ.230 743.466 Page 21
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued Charitable activities continued Individual amounts over £10,000 included within small grants payable: Unrestricted Restricted Funds Funds Total 2024 Total 2023 Allama Iqb<il Cricket Club Football Unites ISRAAC Somali Community Link Learning Mums Uniied Community Centre On Board Skate Park Premier Education Roshni Asian Sheffield FC Sheffield City Boxing Club Shipshape Health Unity Gym 7,453 8,074 13.237 12,088 2,420 28,295 10.079 19,457 9,300 12.738 8,894 7,453 8,074 13.237 12,088 2,420 28,295 10.079 19,457 9.300 12,738 8.894 5,387 10,660 13.(M)5 17,520 11,284 14.450 16,130 11.609 10.870 15,399 Governance Costs Unrestricted Restricted Funds Funds Total 2024 Toial 2023 Audit fee (2023.. Independent Examination) 3,750 3.750 1,650 3.750 3,750 1,650 Employees 2024 2023 Number of employees The average number of employees based on full-time equivalents during the year is.. i? 14 Employment costs Wages and salaries Social security costs Employer's staff pension contributions Redundancy costs ?65.66? 268.485 14,799 10,108 11,173 ?89,516 ?93,39? No employee earned £60,000 per annum or more in the current or preceding accounting period. Key management personnel comprise the chief executive and senior management. The cost of their remuneration, including employer's pension and eTnployer's NIC. was £89.998. Page 22
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued Short leasehold property Fixtures, rittings and equipment 10. Tangible fixed assets Total Cost At l April 2023 Additions Impairnient losses Disposals 79,746 79,746 317,652 (73,000) (73,0(M)) 317.652 At 31 March 2024 317,652 6,746 324,398 Depreciation At l April 2023 Impainnent loss Charge for the year 73.794 73,794 (73,000) (73,000) At 31 March 2024 794 794 Net book values At 31 March 2024 317,652 5,952 323,604 At 31 March 2023 5,952 5.952 11. Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 6,086 214,421 5,787 6,715 226,294 34.961 Other debtors relate to grants receivable which were invoiced in March 2024 and subsequently re.r.e.i ve,d in fiill in April ?.n?.4 Page 23
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued 12. Accruals and deferred income 2024 2023 Deferred income At l April 2023 Increase in year 40,445 228,421 13,375 40,445 268,866 (40,445) 53,820 (13,375) Released in year At 31 March 2024 228,421 40,445 13. Flnanclal commitments At 31 March 2024 the company had annual commitments under non-cancellable operating leases as follows: 2024 2023 Expiry date: Within one year Between one and five years In over five years 2,785 391 3,984 2,988 3.176 6.972 The lease agreements relate to the following operating leases.. a. Server lease agreement for 24 months ending in November 2024 b. Photocopier lease agreement for 36 months ending in November 2026 14. Capital Commitments At 31 m'Ll] 2024, Llie LI1.ALY lidLI liv Liiyildl LviiiiiiiLiiieiils (2023. £NAI). Page 24
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 . continued 15. Analysis of net assets between funds Unrestricted funds Rcstricted funds Total Tangible fixed assets Current asset8 Creditors falling due within one year 323,604 154,283 (12,472) 323,604 382,704 (240,893) 228,421 (228,421) 465.415 465,415 16 Creditors: amounts falllng due wlthln one year 2024 2023 Independent Examination Trade creditors Deferred income Accruals Aviva and People's Pension Contributions Inland Revenue and Socidl Security Audit fee 1,450 2.215 40,445 1.796 547 7.660 228,421 1,062 3,750 ?40.893 47,517 Page 25
Sharrow Community Forum Limited (A company limited by guarantee) Notes to the financial statements for the year ended 31 March 2024 continued 17 Restricted Funds At l Aprll 2023 Incoming Resources (Outgoing) Resources At 31 March 2024 Transfers Grants less than £5000 SCC: Universal Youth Fund SCC: Community Champions SCC: Employability Skills SCC: Holidays and Food (HAF) UK Shared Prosperity Fund Pathways to Positive Change Investment for Growth Youth Investment Fund., Project 4.473 13,882 25,000 27,227 206,779 5,691 16,165 23,000 364,742 (4.473) (13.88?) {?5.000) (27.?27) (?06.780) (5,691) (16,165) (?3,000) 14,293 (379,035) 14.294 686.959 322,?18 (379,035) The Universal Youth Work fund is a distinct educational proce8s adapted across a variety of settings to support a young person's personal. social and educational development, It aims to achieve this by exploring their values, beliefs and issues. enabling them to develop their voice, influence and place in society. Ii facilitates the learning of a set of practical and lechnical ski115 and competencies that enable them to realise their full potential. The Sheffield Community Champions funding programme assists volunteers whose role is to support people to eat healthily, be physicallly active and improve their mental well-being. The Employability Ski118 Fund supports services which have been developed to address and identify the specific needi* of people in Sheffield who are unemployed or economically indctive, leading to employment opportunities, education or training. It provides a bespoke employment support service for people who require additional support to access the labour Mket. The Holiday and Food Fund (HAF) is a programme of grant .8UPPOrt to assist with the co-ordination of free holiday provision including healthy food and enriching activities for eligible children. The UK Shared Prosperity Fund is used lo provide a programme of support in the fonn of infonnation, employment advice and guidance to Hong Kong nationals. Sheffield City Council on behalf of the South Yorkshire Local Authorities was successful in two bids for two European Social Fund projects: Paihways to Success and Ambition.The Pathways to Success programme delivers European Social Funding priority 1.4 (adults aged 18+), active inclusion. with a view to promoting equal opportunities and active participalion and improving employability. The Youth Investment Fund supports the building of a new three storey community centre at Highfield Adventure Playground, Crowther Place. Sheffield. S7 1 BJ Page 26
Sharrow Community Forum Limited (A company limitsd by guarantee) Notes to the financial statements for the year ended 31 March 2024 . continued 18 APB Ethical Standards In common with many organisations of this size and nature, Sharrow Community Forum uses its independent auditor to prepare the financial statements and for advice on tax compliance issues. Page 27