2024-09-30-accounts

COMPANY REGISTRATION NUMBER: 05239863 CHARITY REGISTRATION NUMBER: 1109539 Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Unaudited Financial Statements 30 September 2024

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Financial Statements Year ended 30 September 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 September 2024 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 30 September 2024 Reference and administrative details R8gistore(I charity name Charity registration number Company registration number Prlnclpal office and reglstered 35 Townhead Street office Sheffield Financial Inclusion Services (Yorkshire) Limited 1109539 05239863 S12EB The trustees Mr P Amistrong Ms C Ursell Ms M Stavrianakos Mr J Edwards Mr C K8arton Mr N Fletcher (Resigned 31 July 2024) Mr R Savage Mr C Thomas Independent examiner Mr S D Allen ACA FCCA Omega Court 364-366 Cemetery Road Sheffield S118FT Structure, governance and management Governing Document The organisation is a charitable company limited by guarantee. It was incorporated on 23 September 2004 and is govemed by the Memorandum and Articles of Association under which it Is established, Recruitment and appointment of directors Recruitment and appointment of directors is an ongoing process within the organisation involving identifying people with skills, knowledge and relevant axperience to join our board of directors. This is achieved by local advertising campaigns as well as identifying individuals with specific skills in areas required by the organisation. Information packs. policies and procedures, training opportunities and induction to the organisation are available to all who would like to become board members.

Organisational Structure The organisation is govemed by a board of directors. who are responsible for controlling the management and administration of the charity. The board have established formalised reporting procedures and clear lines of accountability. The board second a varying number of hours of Sheffield Credit Union's Gener81 Manager (also referred to as Chief Executive Officer) and Finance Manager to manage the organisation on a day to day basis on their behalf. The managers report to the board each month and there are clearly defined roles and responsibilities. The aims and objectives are set out in the organisations, Memorandum and Articles of Association. Decisions are agreed and approved at the board meetings that are held regularly throughout the year. Risk management The board of directors actively review the major risks to which the charity is exposed and believe that careful monitoring of re3erve3, combined with an annual review of the controls over fin8n¢ial systems, will provide sufficient resources in the event of adverse conditions. The board of directors has also examined other operational risks faced by the charity and can confirm that they have established systems and procedures to mitigate all potential risks id8ntified. Public Benefit Statement The objectives and activities of the organisation have been planned, taking into account the requirements that Ihe Charities Commission sets out with regard to Public 8enefit. The Public Benefit that the organisation provides relates to our aims and objectives. 8nd is balanced againsl any potential harm through our risk assessment procedures, The benefits are not unreasonably restricted. The activities do nol result in private benefit. Objectives and activities The charity's principal objectives continue to be to relieve persons in need, poverty and distress by the provision, and support in the provision, of dobt and personal finance management training, including training in vocational skills and the provision of such other resources and services as the trustees shall from time to time determine, with the object of improving the conditions of life for those persons who have need of such services. These objectives are being met by.. a} Attending strategiG meetings to drive forward issues surrounding financial exclusion at a loGal and county level; b) Participating in, and leading projects to improve understanding of financial exclusion, for individuals and organisations. c> Providing support for individuals experiencing financial exclusion, in partnership with Sheffield Credit Union Limited as well as through signposting to other ￿levant agenGies and sUPPOrt mechanisms. d) Offering money management and budgeting support to individuals and to organisations dealing with individuals In need of thls support. Volunleers work within the organisation where appropriate to complement the charity's full time staff. The board eslimale that approximately 40 hours were donated by volunteers during the year (Board meetings & AGM. Achievements and performance SCC Employability Project Shoffiold City Council Contracted FISY Ltd to administar Employability Project grants on their behalf. These grants are paid to individuals through organisations participating in the project. The organisations receive the grants from FISY and then provide them to the individuals that they support. The project began in January 2012 and is ongoing. Since beginning, a total of 1116 grants have been issued, all designed to help individuals lo overcome the barriers Involved in getting back to work. Purposes have included accessing training, transport passes, work clothing and olher expenses that would otherwise have made resuming employment difficult for the individuals.

Financial review Principal sources of funding This year, Ihe charity's funds have come from contractual income from Sheffield City Council. A significant grant was received in June 2024 which allowed the presence of part-time outreach workers at community hubs. Other necessary expenditure, including support for Sheffield Credit Union to explore and develop its community presence and furtherance of the aims Df financial inclusion, has been found from company reserves. Reserves Policy The Board of Directors has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be between one and six months of the resources expended, which based on the currenl year equates to bet￿een £969 and £5,814 {2023 .£1,090 and £6,541). The board of directors feel the available unrestricted funds of £13,973 at 30 September 2024 (2023= £18,390). which is higher than Ihis target due to reduced projects within the organisation, are sufficient for the charity to CL)ntinue operating its current activities. Investment Policy The general purposes committee has considered the most appropriate policy for investing funds and has found Ihat the Unity Trust bank meets the charity's requirements. Plans for future periods The organisation aims to continue to deliver services to improve financial capability and promote better financial inclusion. To achieve this, tenderins processes and further funding applications will be submitted when appropriate. All activities thal aim to improve financial capability will be considered, including sourcing training for those working with finanGially exGluded individuals. Work within schools and the Gommunity. to deliver money skills sessions and to rais8 awareness of financial inclusion issues in the wider community are still under consideration for future projects. There were no paid employees within the organisation at the end of the financial year, and all salary charges were in Ihe form of buying in staff hours from Sheffield Credit Union (SCU). With changes of management within SCU we expect FISY to begjin lo employ part-time staff. The organisalion aims to continue building links with Ihe local media through work delivered by the General ManagerlCEO and is conlinuing to utilise donated funds, and will use any new grants, to buy hours to Support Sheffield Credit Union rnember5 With budgeting and financial management. Th8 organisation will continue to provide volunteer opportunities by recruiting and training new volunteers to our organlsatlon. We recrult new Dlrectors wlth a variety of skllls to support the Board of Directors, and at the time of this report the Board of Directors has 2-6 vacancies. Srnall Company provisions This report has been prepared in accordance with Ihe provisions applicable to companies entitled to the small companies exemption. The trustees. annual report was approved on 12 June 2025 and slgned on behalf of the board of trustees by: Mr P Armstrong Mr C Kearton Trustee Trustee

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Financial Inclusion Services {Yorkshire) Limited Year ended 30 September 2024 I report to the trustees on my examination of the financial statements of Financial Inclusion Services (Yorkshire) Limited ('the charity'l for the year ended 30 September 2024. R85ponsibilities and basis of report As the trustees of the company land also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2Q06 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act,). In carrying out my examinalion I have followed the Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examiner's statement I have completed My examination. I confirm that no malters have come to my attention in connection with the examination giving me cause to believe.. accounting r8cords wer8 not kept in respect of th8 charity as required by section 386 of the 2006 Act,. or 2. the financial stalements do not accord with those records., or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement thal the accounts glve a 'irue and fairf view which Is noi a matter considered as part of an independent examination. or 4. the financial statements hav@ not b@8n prepared in accordanc8 with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charitles appllcable to charitles preparing their 8ccounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of Ihe accounts lo be reached. Mr S D Allen ACA FCCA Independent Examiner Omega Court 364-366 Cemetery Road Sheffield S118FT 12 June 2025

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2024 2024 2023 Unrestricted funds Restricted funds Total funds Total funds Noto Income and endowments Donations and legacies Charitable activities 1,999 26,964 215 28.963 215 12.974 107 Total income 1,999 27,179 29,178 13,081 Expendlture Expenditure on charitable activities 6,416 5,211 11,627 13,081 Total •xpendltur8 6,416 5,211 11,627 13,081 Net Income and net movement In funds (4,417) 21,968 17,551 Reconciliation of funds To￿1 tunds broughl forward 18,390 18,390 18,390 Total funds carrled forward 13,973 21,968 35,941 18,390 The statement of financial activities includes all gains and losses recognised In the year. All income and expenditure derive from continuing activities.

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Statement of Financial Position 30 September 2024 2024 2023 Note Currenl assets Deblors 14 35 35 Cash at bank and in hand 48,495 35.880 48.530 12,589 35.915 17.525 Crèditors: amount$ falling due within one year 15 Net currenl assets 35.941 18.390 Total assets less current Ilabllltles 35,941 18.390 Net assets 35,941 18,390 Funds of the charlty Restricted funds 21,968 13,973 Unrestricted funds 18,390 Total charity funds 18 35,941 18.390 For the year ending 30 September 2024 the charity was entilled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 The directors acknowledge their responsibilities for Complying with Ihe requir8menls of the Act with respect to accounting records and the preparation of financial ststements These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statemenls were approved by the board of trustees and authorised for issue on 12 June 2025 , and are signed on behalf of the board by.. Mr P Armstrong Trustee Mr C Kearion Trustee

Financial Inclusion Services (Yorkshire) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2024 1. General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 35 Townhead Street, Sheffield, S12EB. 2. Statement of complianca These financial stalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republlc of Ireland., the Stslement of Recommended Practice applicable to charllles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (Charities SORP (FRS 102)) and the Companies Act 2006. 3. Accounting policies Basis of preparation Th& financial statements have been prepared on th8 historical cost basis, as modified by the r8valuation of certain financial assets and liabilitie5 and investment propertie5 measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncerlainties about the charity's ability to continue. Judgements and key sources of estimation uncèrtainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are b8sed on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricted funds earmarked L)y the trustees for parlicular future project or commitment. Restricted fijnds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds.

Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt Is probable and entitlement is established. income from donated goods is measured 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 reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the dolivery of the corbtracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a parlicular purpose and relurned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable airns for the benefil of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifi£ble and consistent basis. Tangible assets Tangiblé assèts are initially r8cordÉd 8t cosl, and subsequently stated 8t cost less any accumulatèd depreciation and impairment losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of Sn asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within Ihe statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised galns and losses on the statement of financlal activities.

Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of thal asset as follows: Fixtures and fittings Impairment of fixed a55ets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset 15 impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basi¢ financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where il is recognised at the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Current assels and current liabilities are subsequently measured al the cash or other consideration expected to be paid cr received and not discounted. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provid8d. Prepaid contributions are r8cognis8d as an asset to the ext8nt that the prepayment will lead to 8 reduction In future payments or a cash refund. 4. Llmlted by guarantee The company is a company limited by guarantee not having a share capital. Every member of the company und8rtakes to contribute a sum not exceeding £1 if th8 company has insufficient assets to discharge its liabilities in the event of winding up. 5. Donatlons and legacies 33 % straight line Unreslricted Funds Restricted Total Funds Funds 2024 Donatlons DoNalioNs and gifts Grants Granls receivable 1,479 1,479 1,999 25,485 27,484 1,999 26,964 28,963

Unrestricted Funds Restricted Funds Total Funds 2023 Donations Donations and gifts Grants 4,288 7.109 11.397 Granl5 receivable 1,577 1,577 4,288 8,686 12,974 6. Charitable activities Restricted Funds Total Funds 2024 Restricted Funds Total Funds 2023 Other income from charitable activilies 215 215 107 107 7. Expendlture on charltable actlvltles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable Activity Supp3rt costs 4,381 2,035 5,196 15 9,577 2,050 6,416 5,211 11,627 Unrestricted Funds Restricted Funds Total Funds 2023 Charitable Activity Support costs 2,918 1,370 8,711 82 11,629 1,452 4,288 8,793 13,081 8. Expenditure on charitable aGtivities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable Aclivity 9,577 2,050 11,627 13,081 9. Analysis of support costs Analysis of support costs - charitable activity Total 2024 Total 2023 Finance costs Governance costs 70 1,980 70 1,980 72 1,380 2,050 2,050 1,452 10. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for..

Independent examination of the financial statements 1,980 1.380

1. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 749 2,771 185 50 799 2,956 The average head count of employees during the year was Nil (2023- 1 ). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 2023 No. No. Direct charitable work No employee received employee benefits of MO￿ than £60,000 during the year (2023: Nil).
2. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity ware received by the trustees.
3. Tangible fixed assets Fixtures and f ittings Cost At 1 Oct 2023 and 30 Sep 2024 10,735 Depreclatlon At 1 Oct 2023 and 30 Sep 2024 10,735 Carrylng amount At 30 Sep 2024 At 30 Sep 2023
4. Debtors 2024 2023 Prepayments and accrued income 35 35
5. Creditors: amounts falling due within one year 2024 2023 Accruals and deferred income 12,587 17,523 Other creditors 12,589 17,525

6. Deferred in¢ome 2024 2023 At 1 October 2023 Amount released to income 16,143 (4,996) 29,117 (12.974) At 30 September 2024 11,147 16,143

7. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 50 (2023.. £ 1851.

8. Analysis of charitable funds Unrestricted funds At 30 Sep 2024 At 1 Oct 2023 Income Expenditure General funds 18,390 1,999 (6,416) 13,973 At 30 Sep 2023 At 1 Oct 2022 Income Expenditure General funds 18,390 4,288 (4,288) 18,390 Restricted funds At 30 Sep 2024 At 1 Oct 2023 Income Expenditure Restricted Fund 1 Employability 27,179 (5,211) 21.968 At 30 Sep 2023 At 1 Oct 2022 Income Expenditur8 Restricted Fund 1 Employability 8,793 (8,793)
9. Analysls of net assets between funds Unreslricted Funds Restricted Total Funds Funds 2024 Current assets Creditors less than 1 year 26,562 (12,5891 21.968 48,530 (12,589) Net assets 13,973 21,968 35.941 Unrestricted Funds R8Stricted Funds Total Funds 2023 Current assets Creditors less than 1 year 35,915 (17,525) 35,915 (17,525) Net assets 18,390 18,390
10. Related partles During the year there were £4,47112023 - £3,247) of recharges from the Sheffield Cre(iit Union to the company.

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