CHARI'fY REGISTRA'I'ION NUMBER 1112008 COMPANY Rf.GISTRA TION NUMBER 05060698 SOAR COMMUNITY GROUP ACCOUL¥TS FOR THE YEAR ENDED 31 MARCH 2022 Hackeryoung Charterd Accountsnts SOAR COMMUIYITY LEGAL AND ADMINISTRATIVE INFORMATIOIY Truslees R A M Al-sakkaf FA Belbin Councillor M l. Chaplin T K Godl¢y M Greaves J M Hawley E J Houlston P R Howard Couneillor A Khayum CMLane ADMale M Najcfi Councillar P Price MBE S P Rippon CJPRoss JA Towl Councillor G D Weatherall (resigned 27 October 2021) (resign¢d 27 April 2022) (apwinted 26 May 2021) (appointed 26 May 2021 and resigned 22 October 2021) (resigned 27 October 2021) A C Whiting WTYap Chief Executive Offi¢er Msohri Seeretary S Whittaker Charity nwmber 1112008 Company number 05060698 RegSstered otTice Soar Works Enterprise Centre 14 Knutton Road Sheffield S5 9NU Auditor5 UHY Hacker Young 6 Broadfield Court Broadfield Way Sheffi¢ld S8 OXF Bankers Unity Trust Bank pl¢ Nine Brindl¢yplaee Binningham BI 2HB Solicitors Rosalind Watchorn l O Kcnwood Park Ro Sheffield S7 INF SOAR COMMUNITY CONTEiYrs P#ge Trustees, report Statement of tn￿tees. responsibilities 10 Independent auditors. report Consolidated ststement of financial activities 15- 16 Statcmciit of financial activities 17- 18 Con501idated balanG¢ sheet 19 Balance sheet 20 Statement of cash flow5 21 Notes to the accounts 22-49 SOAR COMMUNITY TRUSTEES, RF.PORT FOR'fHE YEAR ENDED 31 MARCH 2022 The trustees prescnt thcir rcport and accounts for the year cnded 31 March 2022. Thc accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's Memordndum and Articles of Association, the Companies Act 2006 and "A¢oounling and Reporting by Charities.. Statement of R¢commend¢d Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ir¢land (FRS 102) {a5 am¢nded for￿COUnting p¢riods Comtnencing from l January 2016)" Strueturei governanee and management Constitution and goveroiDg document SOAR Community is a charitable company ("charity"), limited by guar8nt¢¢ gov¢rned by its Memorandum and Articl¢s of Association. It was incorporated on 2 March 2004 and registered as a charity on 10 November 2005. The guarantee of each member is limited to £1. Appointment of Board Th¢ Irust¢es of th¢ ¢harity are also directors for the purposes of company law and under the charity's Articles are known 88 members of the Board. There is a maximum of 20 members of'the Board. The Board may appoint pcrsons as mcmbers ofih¢ Board, eitherto fill a vacancy oras an additional member. A member so appOin￿d must retire and b¢ ￿-apPointed at the next annual general meeting. lThe trustees, who are also the directors for the puty)sc of ¢ompany law. and who s¢rved during Ihe year w¥re'. R A M Al-sakkaf F A Belbin C.ouncillor M L Chaplin T K Godl¢y M CJreaves J M Hawley E J Houlston P R Howard Councillor A Khayum CMLane ADMal¢ M Najefi Councillor P Pricc MBE S P Rippon CJPRoss N T Sen¢virat JA Towl Councillor G D W¢atherall A C Whiting WTYap (resigned 27 O¢tober 2021) (resigned 27 April 2022) (appointed 26 May 2021) (rcsigned 26 May 2021) (appointed 26 May 2021 and resigned 22 O¢tob¢r 2021) (rcsigncd 27 October 2021) Metbod of appointment Tnjstees are apEX)inted and removed in accordance with the regulation5 made under article 13.1.6.5 of the Articles of Asso¢iation. These regulations are reviewed annU￿ly. In ac¢ordan¢e with the Articles of Association. m¢mbers will b¢ asked to confirni the appointment of new trustc¢¥. SOAR COMMUNrrY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Trustee iDduction Ydnd training New trustees are encouraged to attend short induction training sessions to familiarise themselves with th¢ charity and thc context within which it operates. These cover: the obligation of trustees. the main documents which set out the operatiorLal frLm)¢work for th¢ charity including the Mcmorandum and Articles of Association. resourcing and the curr¢nl finan¢ial ]y)sition as sel Out in th¢ latest published financial statements. and future plans and objectives. Trust¢¢s are provided with thc Charity Commission's guidc "th¢ E5scntial T￿￿1￿, along with a copy of th¢ MemL)randum of Articles of Association and the latest financial statements.. Additionally each trusl¢e is provided with the SOAR Trustee Handbook that sets out the role of SOAII its partners and how the Governance structure works. Risk man%%ement The Board has conducted & review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established tu mitigattt the risks the charity faoes. A significant risk area is the potential for a loss of a major sour¢¢ of funding. This h&s led to the development of a plan to spread and diversify SoU￿e$ of incom¢ and increase unrestricted income reserves. Business oontinuity plans have been put in place in relation to a Covid outbreak as a newly id¢ntifi¢d si8nificant risk. Internal risks are minimised by the system of authorisation and financial controls approved by the trustees. Procedures have been pul in place lo ensu￿ ¢omplianc¢ with health and safety of staff, volunteers, clients and visitors to the organisation's premises. SOAR group structure SOAR has a l 00% share in SOAR Enterprises Limited. SOAR Enterprises Limited has a 50/0 Stake in SOAR Build Limitcd as wcll as a l /0 slake in ESP Projects Limited. The lQ/o Stak¢ in ESP Projects Limited was sold in April 2021. the shares w¢r¢ sold al par valuc. SOAR Ellterprises Limited SOAR Works Enterprise Centre on Knutton Road is a highly regardcd building purpose designed to help business trade, inieract. network and a¢¢oss support in a fresh and modern way. Fonnally opened in tkcember 2011, the £4.8m Enterprise Centre off¢rs high quality office space, light industrial units and artist studios and provides support services for new slart-up and ¢stsblished busin¢sses. htt '.l/www.soanvorks.co.uk. The building currently hosts a muliitud¢ of diverse businesses including a car mechanic, PC sales and repair, animation production, cleaning management setvi¢¢s, lightening protection. driving recruitmenL graphi¢ d¢sign¢r. textiles produccrj plumber, MP. care agencies. a rangc of artists, including a CUStt)m bike speciali5L disabled living c¢ntr¢. and most recently an online clothing boutique. Currcntly 100 /0 of the lett&ble floor space 1.8 let. SOAR COMMUNITY TRUSTEES, REPORT (CONfINUED) FOR THE YEAR ENDED 31 MARCH 2022 SOAR BUILD LIMITED Princip*l 4etivities The Company's principal activity is to operate as a social enterprise company, training local people in constru¢tion skills whilst working for major contractors as a sub-contractor and directly for Registered Social Landlords. Business review and future developments During the year ended 31 December 2021 we have reported turnover of £nil (for the year ended 31 December 2020: £nil) and a profit on ordinary activities &ftcr taxation of £4,724 (2020: £717). The reported profil after taxation of £4.724 excludcs an adjustment of £793.202 in relation to the waiver of amounts owed to related parties. As reported l&styear. after 12 successfvl years in the refurbishment market, SOAR Build Limited ceased trading at the end of April 2018. SOAR Build Limited is a 50150 joint venture between SOAR Enterprises Limited arLd ENGIE. SOAR COMMUNITY Cjovernance structure The Board h&% space for 8 Community residents. 8 independents and 4 CouJJcilloTS on the Board. Th¢ tripartite structure enables us to create a Board of all the tal¢nts to steer and drive the strategic direction ofSOAR Community, Staff structure SOAR is managed by the Partnership ManaEer. who works with and manages 8 senior management t¢am comprised of Finan¢¢ Manager, Health Services Manag¢r, Family and Communities Manager and C¢ntr¢s Manag¢r. In addition, th¢ Parthership Manag¢r manages the Senior Employment Coach who oversees the Employment team. Th¢ Centr¢5 Manager manages 6 staff members (including the coordinators at both Longley 4 Gr¢¢ns and Burngreave Library). 1Th¢ Health S¢rvices Manag¢r manages 5 Senior Workers who tnanage the welfare coach team, wellbeing coach team, social pr¢s¢ribing link workers and development team. The Family and Communities tcam consists of 3 Community Developmcnt m¢mbers of staff. Finance Manager manages I stsff member. Additional Core team members include Training and Learning Coordinator and Business Development Coordinator both of whom are m&n&ged by the Partnership Manager. objectiv￿ and activities The Board ¢onduLied a deep review of th¢ Vision. Mission, Values and Obj¢ctives in March 2020 th&t both scls out the future direction of SOAR and enables the board to a55ess wli¢th¢r cach of the stratcgic objectives is b¢ing delivered. 'fh¢ Boards rolling forward agenda reviews each objective individually ovcr a 12 month cycle. SOAR VISION That North Sheffield will b¢ a place wher¢ p¢ople love to live, to work and to do bu5ine55. A well regarded. w¢lcorning 2nd friendly plac¢ renowThcd for its schoo15. housing and public buildings and its pEople's ingenuity, ¢r¢ativity and flair. SOAR IMISSION To build and strengih¢n local communitics {people, groups, organisation and businesses), lo enable and support sustainable and lasting positive changes to the life and wcll-being of North Sheffield residents. SOAR COMhtUNITY TRUSTEES) REPORT (CONTXNUED) FOR THE YEAR ENDED 31 MARCH 2022 SOAR VALUES Respon.qibl¢ and accountable- we belicv¢ in what we do, expect the highest st&ndArd8 at all times and through feedback from clients, stsff and partn¢r organisalions driv¢ positive changes in the way wc work. Collaborativ¢ and inclusive working openly with partn¢rs and ¢li¢nts d¢liv¢rs better services so we alMTays work in this inclusive and transparent way. Resp¢¢t- genuine in the support. empathy and ¢ar¢ w¢ supply to individuals. Courage- challenge and push the boundaries. Inlcgrity- dcrnoT]Strate honc5ty and credibility making mutual trnst possibl¢. Purpose- committed to achieving our goals in order to bring about positiv¢ swial impacL SOAR OBJECTIVES To improve the health and economic wellbeing of individuals and families in North Sheffield. To use community dcvelopmcnt &pproach¢s to develop and expand local community and grass roots organisations. To d¢v¢lop. manage and support sociallcommunity assets and centres in North Sheffield. To be a highly regarded, sustainable, innovative organisation, comtnitted to dcv¢lopin8 employees, developing client-centered service5, and acting as an advocate for North Sh¢fifi¢ld. Activity Objective I Supporting people to improve their health & wellbeing (Ihrough one-to-one &Dd group work) Grant agY¢em¢nl with SCC for lh¢ d¢liv¢ry of the Community Wellbeing Programme (CWP} and Reqilient Communities in North Sheifield. Thes¢ uonlracts ¢nab5e SOAR to deliver Objective I abov¢ and provide the financial rcsource for the Flealth Setvices Team, also subcontracting of &ctivities to community partners. Contract (Syr) with Shcfficld City Council to Social Cafe for peoplc with mildlmoderate mental hea]th issues. in partnership with Sheffield Mind. Contract with Sanctuary Housing to provide Community-based activilies for socially isolated people residing in tlie Shiregreen neighbourhood and a cornmunity development projecl 'What's Your Gamc,. Grant agreement (5yr} with SCC for th¢ delivery of a Dementia programme. including Mcmory Cafes and Carcrs support. Grant agreement with Shclyicld CCG (now ICB) and Primary Mental Health Trdnsfomjation Prowme to deliver a Social Café for ¢lients with serious mental h¢alth issues, deliv¢￿d in partnership with Firavl¢ Community Hub. Grdnl agreement with Zest Community to deliv¢r n¢ighbuurhood weight management programTn¢. Grant agreement with SCC to d¢liv¢r a time limited winter pressure pilot in Wincobank. Contra¢t wilh threc Primary Care Networks (PCN) to employ Personalised Car¢ roles- Social Prescribing Link Workers and Wcllbeing CoAches. Miscellaneous contracts around increasing physical activity i.e. This Girl Can, Walking for Purpose, Cycling UK. The type of a¢tivity delivered by the team are: One to one work and action planning with the Wellbeing Coach and W¢lfar¢ Coach teams. Chronic Pain scssions. Desmond Diab¢i¢s support. S¢lf-help 'pe¢r support, groups and activity groups. Springboard Soci&l Cafe network. Progression to voluiiteering* training and employment. SOAR COMMUNITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Supporting people to improve their e¢onomi¢ wellbeing (through oneatowone work) Contracts with Sheffield City Council foT th¢ provision of support and services for peopl¢ who are unemployed, supporting & team who work with the local community to help people back into learning and get ready to ¢nt¢r th¢ job market. Ile type of activity delivered are.. Engagement with people who have an interest in securing work or recciving training. Development of personal action plans for these individuals that set out the series of steps to b¢ taken to get them inio work, andlor volunteering andlor training. Running Job Clubs in Parson Cross, Longley? Shiregreen, Stocksbridg¢. High tir¢en and Firth Park. Support to find training: or joblvolunteering opporbjnities or to develop thcir CV. Working with people with mild to moderate mental health conditions offering co-produced short actiiiity sessions. Employer's job/recruitment fairs. ETnployability programmes. Runlling a high-qu4lity volunteering programme (frnm low-level group sypport to Studeut pla¢emeDts) BurDgreave Library- lillkq to objectives 2 and 3 also In SepteInber 2015 we took over the running of Bum¥reav¢ Library. It is co-produced with she￿ield City Council who pay for everything but thc library staifing. We have continu¢d io secure monies to employ & Library Volunteer Coordinator who has r¢cruited, traincd and inducted th¢ current volunteers who now run the library. Volullt¢¢ring programmes.. Community Champions, Early Years, mcntal health recovery coaches. Sheffield Univergities (She(field Univ¢rsity aTJd Shcffield Hallam) placements.. OLcupational H¢alth (Bsc), Psychology {BSc) and medical students (3, ycar) placements. Development of a North Sheffield soclal prcseribing servic SOAR'S Social Prescribing Servicc works across 22 GP surgeries (Part of North Locality) in North Sheffield, ¢ngaging 1.908 clients. D¢v¢lopm¢nt of Personalised Care"I'¢ams within each PCN. Social Model of Health. Range of interlinked services "no wrong door policy" Experienced local worket3. T)elivered in non-clinical, "community-based- settings. Activity Obje¢tive 2 Develop local supply chains through a miero-commissioning Approach, using small gniD¢s and spo¢ purchasing of seTViC(S. Dementia Memory cafés in Parson Cross and Page Hall. Mixed socialldcmcntia-based groups in Burngrcav¢, Wincobank and Chapeltown Dementia Carers groups in PwEon Cros5. Firth Park and Burngreave. A Springboard Social Cafe in Page Hall dclivered by Aspiring Communit1¢5 Together (ACT) and Firval¢ Community Hub (FLH). Sprirlgboard Social Cafe in Chapeltown delivered by SOAR in partn¢t%hip with Shefficld Mind. Early Years project delivered in partnership with Foxhill Fornm, FCH and ACT. SOAR COMMUNII'Y TRUSTEES• REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 A £30,687 "l¢t's build health" stnall grants scheme awarded to 24 organisations in North Sh¢fficld. Secured £572k Depariment for Education and SCC funding to dclivcr 2021122 Healthy Holidays and Food (HAF) provision. Wc sub_contracted 93fj/0 of this provision to local delivery partners. We sulFconlracted 40D/o of PKW investment to local delivery partners. Other sub-contracted delivery includes.. 'Feel CJcJod' Social group in High Green. Community gym in partn¢rship with Shcffield Wethiesday FC and Chaucer School. Gap Shap so¢ial group in Burngreave. Providing capacity buildinglg support to the local community, grass rnots organisations And volunteers to shape their offer and implement new iYay$ of working. Longley 4G- links to objective8 1 and 3 ¥190. We have been working with thcm since May 2016 to activate their community cenlre, support the development of local groups, bring in new users, activate their rommercial kilchen. d¢v¢lop bids for activity developmenl and investment in the buildings and fully let their olfice accommodation. We have secured some fi]nding from This Girl Can and continue to s¢¢k othcr funding to covcr thc costs until they generate enough earned income to myk¢ th¢ organisation self-5UStaining. As part of th¢ir Covid response work Longley 4G have set up a foi)d pnty on the site. Others Lead organisation covcring four Community Partncr5hips, aciing as an int¢r¢onnectcd nctwork, l¢arning from each other and providing social interventions at a neighbourhood level. Covering Burngreave, Page Hall. Firvale. South¢y. Shir¢¢lift¢, Lon8l¢y, Parson Cross. Firth Park. Shiregreen and Chapelgreen. Annual 7-we¢k ¢ollaborative leadership programm¢ aimed at lo¢al frontline workers. 16 workers att¢nd¢d from 13 VCS. PCN and ststutory organisations. We tacilitate health networks a¢mss SAPA5 and Network North PCNS. brin8ing together loc&1 workers to Sha￿ knowl¢dg¢, improve learning and build links. We now lead a partnership of over 37 HAF providers. Activity Objective 3 To manage and supporl 80¢i*Ucommunity 4sse¢s *lld ¢entre8 in North Sheffield SOAR Works Enterprise Centre is currently l OOO/o let. We have upgraded our broadband. WiFi and tel¢phon¢ systems. improving ¢onn¢¢livity tor our staff and tenants. Learning Zone: Most of our Health Team staff are now spending more time in the offi¢¢ bul also making use of community spa¢¢ upstairs. we have delivered live Sighter sessions and a very popular live lighter. Sessional bookings have increased - a return for some of our long-standin8 bookin8S post-covid and we have welcomed some new customers. Bellhouse Roa(VOne Stop Shop.. Our Etnployment Coaches have also returned and are f￿Using on seeing clients face to face we have seen an increase in walk in enquiri¢s. W¢ have installed a buzzer entry system for visitors and improved security- Staff are utilizing the upstairs 0￿1¢¢ for "hot-d¢sking" We have worked with a volunteer architect to re-imagine and update the space, we hope to Pro￿esS these plans and apply for funding to make them a reality. SOAR COMMUNITY TRUSTEES, REPORT (CONThWED) FOR THE YEAR ENDED 31 MARCH 2022 Activity Objective 4 To be highly regarded, sustainable, innovative orgsinisatioll, committed ¢0 developlng employee9 2) different training ¢ourses completed by staff. l O new members of staff rc¢ruited. Our purpose-built HR system went live in April 2021, improving the way we keep employee records. str¢amlining our processe5 and moving us towards paperless working. Equality, Diver8ity & Inclusion Our EDI task force has continued to meel atid review our EDI working. Developed a new menopause policy? to support staff goin¥ throu¥h thc menopause. Public benefit achievements SOAR has achieved the following charitable objectives. all of which are all for the benefit of the community.. Charitable Objective5 Demon8tr4tion of outcom& xchieved Th¢ r¢li¢f of pov¢rty and un¢mploymenl 89 people supported towards employment 69 people secured work or training 1.903 unique clients supported 6,713 interyentions took plaee 1,908 inbound referra15 £610,768 client income maximised The advancement of education. training orretrainin& particularly among unemployed people and providing unemployed people wi(h Work experienc¢ 69 volunteers engaged, supported and placed 11,436 free school meal (FSM) eligible children and 2,018 non-FSM eligible children participating in ItAF activities 412 ￿0P]e r¢c¢iviDg the W¢llb¢ing Coach service 421 people recciving the Welfare Coach 5erYice 22 GP practices engaged 1,908 GP (inc other sources) r¢f¢rrals The provisions of fmancial assistance. technical assistsnce or business advice or Lonsultancy in Order to provide training employment opportunities for unemployed people. In ca5¢s of finan¢ial or other charitable need, through help (i) in setting up their own busin¢55, or (li) to exis(ing b￿sineSS¢5 89 p¢ople receiving infomiation, advice and guidance towards employmcnt The ¢r¢ation of training observc the mcthods and principles in the Charities SORP. state whether applicable accounting stsndards have been followed subject to 8JJy malerial departures and explained in the financial statements. rnake judgements and cstimatcs that are reasnnable and prudent; and prepare the finimcial statements on the going concern basis unless it is inappropriale to presum¢ that the group will ¢ontinu¢ in business. The trustees arc rcsponsible for keeping proper ac¢ounting records which disclose with reasonable accuracy at any time the financial position of the charity and the group and enable them to ensure that the financial statcments comply with the Companies Act 2006. They are also r¢spDnsible for safeguarding the ￿sets of the charity and the group and hcnce for tsking reasonable steps for the prevention and detection of fraud and other irregularitics. In 50 far as th¢ trustees are aware: there 18 no relevani audil inforniation of which the charity's auditors are unawar¢' and the trustees have taken all steps that they ought to hav¢ tak¢n to makc th¢ms¢lves aware of any relevant audit infomi&tion and to e.qtsblish that the auditors are aware of that infonnation. The trustees confitin that they have referred to the guidance contained in the Charity Commission's gcncrnl guidance on public ben¢fit when reviewing the charity's aims and objectives and in planning future activities. The trustees arc r¢sponsible for the maintenance and integrity of the cotyordte and financial infonnation includcd on the comp&ny's website. Legislation in the Unit¥d Kingdom governing the pr¢paration and dissemination or financial statements may differ from Icgislotion in other jurisdictions. 10 Hackeryoung Chartered Acco¥niants 6 Broadfield Court Broadfield WAY Sheffi¢ld S8 OXF INDEPENDENT AUDITORS, REPORT TO THE MEMBERS AND'fRUSTEES OF SOAR COm￿￿Ty Opinion We have auditcd the a¢counls of SOAR Community (the 'charit&ble company.) for the year cnded 31 March 2022 which comprise the consolidated Statement of Financial Activiti¢s, th¢ parent Statement of Financial Activities. the consolidatcd ljalance Sheet, the par¢nt Balancc ShceL the consolidated S(alem¢nt of Cash Flows, the par¢nT Statement of Cash Flows and the notes to the accounts. including A summary of significant accounting policies. The financial rcporting framework that has bKn appli¢d in their prcparation is applicable law and United Kingdom Accounting Standards, including FinaJ)¢ial Reporting Standard 102 The Financial Reporting Siandord applicable in ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the accounts: give a true and fair view of th¢ state of the group's and the parent Charitsble company's affairs as at 31 March 2022 and of the group's incoming resourc¢s and application of resources. for the year then ¢nded. have been properly prepared in a¢cordance with Unit¢d Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the r¢quir¢ments of the Compani¢s Act 2006. Basis for opinion We conducted our audit in accordance with Intcrnational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibiliticb under those standards are further described in thc Auditols Tesponsibilitics for the audit of (he accounts se¢tion of our report. We are independ¢nt of the charity in accordance with th¢ ethical requirement5 that are r¢l¢vant to our audit of thc accounts in the UK, Including the FRC'S Ethical Standard, and we have fulfill¢d our other cthical responsibiliti¢s in accordance with Éhcsc requirements. We believe that the audit eviden¢¢ wc have obtxined is 5ufficicnt and appropriate to provide a basis for our opinion. Conclu5ion4 relating lo going concern In auditing the accounts, we have concluded that the trustccs, use of the going ¢oncern basis of accounting in thc preparation of the accounls is appropriat¢. Based on the work we have perfornled. we have not identifi¢d any material unLeriainti¢s relating to evenls or ¢ondilions that, individually or ¢oll¢ctively* tllay ¢&st significant doubt on the charity's ability to continue as going concern for a peritsd of at least twclve months from when the accounts are authorised for issue. Our responsibilitics and the responsibilities of the ttust¢es with respect to going concern are described in the relevant sections of this rcN)rL Hackeryoung CharteredAccountants INDEPENDENf AUDITORS, REPORT TO THE MEMBERS AND TRUSTEES OF SOAR COMMUNII'Y (CONTIIYUED) Other Inforni*tion The other infom)ation comprises the inforn]ation included in the annual r¢porL other than the a¢￿Unts and our auditor's report thereon. 'I'he trustees are responsible for the other inforniation. Our opinion on the accounts does not ¢ov¢r th¢ other inforniation and. except to the extsnt oth¢rwise explicitly stat¢d in our r¢porL w¢ do not express any forn) of assurance Conclusion thereon. In ¢onn¢¢tion with our audit of th¢ a￿Ounts, our responsibility is to r¢ad the oth¢r inforniation and. in doing so, ¢onsidcr whcthcr th¢ othor information is mat¢rially inconsistcnt with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such matcrial inconsi5t¢ncie5 or apparent mAterial misstatsments, we are required to detemiine whether there is a material misststement in the accounts or a material misstatemeni of the other inforniation. If, based on the work we have perfornied. we concludc that therc is a matcrial misstatcm¢nt of this other inforniation, we are required to report that fact. Wc havc nothing to rcport in this rcgard. Opinions on olher mallers prescribed by the Companies Act 2V06 In our opinion. based on the work undertaken in th¢ course of our audit: the information givcn in the Trusle¢s' Report which includes the Directors. Report prepared for the purposes of company law, for the financial year for which the accounts pr¢pared is consist¢nt with the accounts- and the Directors, Report included within the Trustees, Report has been prepared in ￿COrdanC¢ with &pplicable legal requitEments. Matters on which w¢ are required to report by eJception In the light of the knowledge and understandirng of the charity and il5 environment obtained in the course of th¢ audit. we have not identified matcriftl misstat¢ment8 in the Directors, Rcport included within the Trustees, Report. We have nothing to report in r¢spect of ih¢ following matters in relation to which the Cvmpanies Act 2006 requires u5 to report to you if, in our opinion: adequats accounting records have not b¢¢n kep( or retums adequale for our audit have not been r¢¢eived from branches not visited by us. or th¢ accounts ar¢ not in agr¢¢m¢nt with the accounting rccords and returns. or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the infomiation and explanations we require for our audit. or the trustees were not entitled to prepar¢ the accounts in accordance with the small companies regime and take advantagc of the sm&ll companies. exemptions in pr¢parin8 the Trustees, Report and from thc rcquirement to prepare a Strategic ReN)rt. 12 Hackeryoung Qwrteied AuouDtants NDEPENDENT AUDITORS, REPORT TO THE MEMBERS AND TRUSTEES OF SOAR COMMUNITY (CONTINUED) Responsibilitie& of irustees As explained more fully in the Statemenl of Tru8tees' Resw)nsibilities, the ttwt¢¢s, who a￿ also the dire¢tors of th¢ charity for the purpos¢ ofcotnpany law, are rcswnsible for the preparation of the accounts and for being satisfied that they give a true and fair view. and for such in¢¢rnal control as the directo￿ deterniine is necessary to ¢nable th¢ preparation of accounts that are free from material misslat¢menL whether due to fraud or error. In preparing the accounts, the trnst¢os are responsible for assessing ih¢ charity's ability to continue As a going concern, disclosin& a5 appli¢able. matters relar¢d to going con¢¢rn and using Ihe going conc¢rn basis of accounting unl¢ss the trustees ¢ith¢r intend to liquidate the Company OT to c¢ase operations, or have no realistic altemative but to do so. Auditor'5 responslbilities for the audit of the financial ststements Our obje¢tlV¢5 are to obtain reasonable assurance about whether the accounts as a whole ar¢ frce from material mi5slatemen¢ whether due lo fraud or error, and to issu¢ an auditoes rcport that includes our opinson. Reasonable assurance is a high level of a5suranc¢, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatemenl when it exists. Misstatements can arise from fraud or crror 2nd ar¢ considercd material if, individually or in the aggregate, they could rc&sonably bc ¢xpected to influ¢n¢e the economic dccisions of users taken on the busis of these accounts. Irregularitie.s. including fraud, ￿e ittsiances of non-¢omplian¢e with laws and regulalions. We design procedures in linc with our responsibililies, ouilined above, to detect material misststem¢nt5 ill respect of irregularities, including fraud. lkne extenl to which our procedures are ¢&pable of detecting irregularities. including fraud, is detailed below. B&8ed on Dur underslanding of the charity and the 8ector in which li operates, w¢ identifi¢d the principal risks of non-cDmplian¢e with laws and regulations relatcd to the aets by the charity, which were contrary to applicablc laws and regulations including fraud. and we considered the extent to which non-compliance might have a material eff￿t on ihc accounts. We also cortgidered those laws and regulation5 that have a dire¢t impact on the preparation of the accounts such ￿ the Companies A¢t 2006. We evaluated management's incentives and opportunilies for fraudulent manipulation of the accounts (including the risk of override of controls). and determined that the principal risks w¢re related to inflatcd revenue and the charity's Det income for the year. Audit procedures pcrfornied includcd: review of the ac¢ount5 disclosures to underlyin8 SUPPOrting documentation, review of correspondenc¢ with legal advisors, enquiries of management. and in t¢sting of journals and evaluating whether there was evidencc of bias by the trnstees that represent¢d & risk of material misstal¢rnent due to fraud. There arc inherent livniialions in the audit procedur¢s dc5¢ribed abov¢ and the further removed non-compliance with laws and regulations is from the evcllts and transa¢tion5 relle¢t¢d in th¢ accounts, th¢ less likely we would beLome aware of il. Also, the risk of not detecting a material misststemenl du¢ to fraud is higher than the risk of not dct¢¢ting one r¥5uliing from error, as traud may involve delib¢rate conceulment by. for ¢xample. forgery or intentional MiS￿PreSentatIons, or through collusion. A further d¢scription of our responsibilities for the audit of the accounts is localed on the Financial Reporting Council's w¢bsitc al.. http.'Ilwww.frc.org.ukl&uditorsresponsibilities. 'lThis dcscription fornis part ofihis report. Hackeryoung U￿rter￿d Accountants INDEPENDENT AUDITORS? REPORT TO THF MEMBERS AIYD TRUSTEES OF SOAR COMMUNITY (CONTINUED) Use of our report This report is made sol¢ly to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 bcen undcrtakcn so that we might State to the cELaritable ¢ompany'5 metnb¢rs thos¢ matters we ar¢ required io slate to ihem in an auditors, report and for no other purpose. To the fullest extent permitted by law, w¢ do nol a¢¢ept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report. or for the opinions we have tormed. Roland Givans (Senior Statutory Auditor) for and 00 behalf ofuHY Haeker Young Chartered Accountants Slatutory Auditor Dated: 20 Octobcr 2022 ¥0￿C ?eJ e -￿ (ym c co OD gD ¢1> ¥nTr- c4￿C SOAR COMMUNITY CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Notes Fixed assets Tangible assets Inveslments Investments ill associates li 12 12 2,986,248 3,191,041 100 390 038 12.193 2,998,441 2,801.103 Current ￿Sets D¢btOTS Cash at bank and in hand 13 130.407 895 943 100.211 804 726 1,026,350 904.937 Creditors: amounts ff411ing due within one year 14 157031 (146 503 Net curreDt *S8ets 869319 758 434 Total assets les5 eurrent liabilities 3.867.760 3.559.537 Credstors: Amounts falling due grcater thAn one year 15 422.056) 447 726 3,445,704 LLIJ.81_1 In¢ome funds Restrict¢d funds 17 2.787,911 2.938,890 D¢sigrvdied funds 18 41,968 10,000 Unrestri¢tcd funds: Retained within th¢ charily Retained within non-charitsble subsidiaries 510,573 IU5 252 450,186 287 265 615.825 162.921 1,445,704 The financial slalements were approved by the IM)&rd of direclots and authorised for issue on 20 October 2022 and <1 signed on its behalf by.. CMLane Trustee Comp&Dy Registration No. 05060698 SOAR COMMUNITY BALANCE SHEET AS AT 31 MARCH 2022 2022 2021 Note5 Fixed assets Tangibl¢ assets Invcstmenls li 12 50,664 io 58.765 10 50.674 58.775 Current a55et5 Debtors Cash at bank and in hand 13 118,798 770 769 103.048 670 052 889,567 773.100 Creditors: amounts fallin% due within one year 14 61017) 63 438) Net current assets 828 550 709 662 Total assets les5 Current liabilities Income funds Restricled fijnds 17 141,576 123.640 Designated funds 18 41.968 10,000 Unrestricled funds 695 680 634 797 The finaneial st&tements were approved by the board of directors and authorisgd for issu¢ on 20 OctolKr 2022 anda i8ncd on its behalf by.. M Lane Trustce Company Registration No. 05060698 -20- SOAR COMMUNITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 Group 2022 2021 Notes Cash flow from operalillg aetivities Cash generated from/(used in) operations Interest paid 25 117,676 {5,849} (27,450) (5.849) Investing a¢tlvities Pur¢h&ge of tangible fixed as.qeL8 J)isposal of investment in ESP Projects Limited Interest r¢¢eived {16,231) 100 47 84 Net cash generated froml{used in) investlng activities 147 (16,147) Net cash used in financing activities Repayment of loans Tr4et in¢reasel(decrease) in eash and eAsh equivalents 91,217 (58,165) Cash and cash ¢quival¢nts at beginning of year 804 726 862 891 C#sh and eash equivalents at end of year Cb2rity 2022 2021 Notes Ca5b flow from operating activities Cash generated frvtnl(used in) op¢rations 25 100,717 (77.861) Investing activities Purch&qe of tangible fixed assets Interesl reccivcd Net ea5h used in Inve8tlng activities N¢t increasel(decrease) in c*sh 2nd cash equivalents 100,717 (77.861) Cash and cash equivalents at b¢ginning of year 670 052 747 913 Cash and ¢ash equivalents end of year 21 SOAR COMMUNITY NOTES TO THE ACCOUNTS FOR THE YEAR FNDED 31 MARCH 2022 Aecounting policies CompaDy inform8tion SOAR Community is a private company limited by guarantee incorporatcd in r,ngland and Wales. The re8lStered o￿lCe is SOAR Works. Enteryrise Centr¢. 14 Knutton Road, Sheffield, S5 9NU. 1.1 Accounting convention The accounls have been prcpared in accordance with the charity's governing documenL the Companies Aci 2006 and "Accounting and Reporting by Charities.. Statement of R¢Gommended Practice applicthle to charities preparing their accounts in a¢cordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as aTncnded for accounting periods commencing from l January 2016). Thc charity is a Public Benefit Entity as defin¢d by FRS 102. The accounts are prepa￿d in sterling, which is the functional ¢urrency of the company. Monetary amounts in thcsc financial statements are rounded to the nearest £. The accounts have been prepared on the historical ¢ost ¢onvenlion. The principal accounting policies &dopted are set out below. 1.2 Going coneeTn At the time of approving th¢ accounts, the trustees hav¢ a reasonable expectation that the charity has adequate resources to ¢ontinu¢ in op¢rational existence for the foreseeable future. In making that assessmenL the trustecs have specifically considered the impact of th¢ coronavirus on the operations of thc charity, alongside actions taken to mitigate that impact. Thus th¢ t￿SteeS continue to adopt the going concem basis ol accounting in preparing the accounts. IJ Charitable funds Unrestricted funds ar¢ available for use at th¢ dis¢￿tIOn of the trustees in furth¢rance of their charitable objcctives unless the funds have been designated for other purpose5. Designal#d funds comprise funds which hav¢ b¢¢n set &side at the discretion of the trustees for specific purrA)ses. The purpuses and uses of the designated fund5 are set out in the notes to the accounts. Restricted funds are funds which are to be used in accordance with specifLC trstrictions imposed by donurs and which have been raised by the charily for particular purwses. The cost of raising and administering su¢h funds are charged against the specific fund. The aim and use of ea¢h restricted fund is s¢t out in thc notes to lh¢ accounts. J.4 Incoming re$ourees All incoJnin¥ resources are included in the statement of financial activities when Ih¢ charity is legally cniitlcd to the income and the amount can be quantified with reasonablc accuracy. For public fundcd projects the entitlement to the incomc is related to the meetin8 of specific dcliv¢rables and is allocat¢d between activitics and between restri¢t¢d and unreqtricted funds a¢cordin8 to the nature of the funding. IncoTne r¢lating to a specific future period is d¢ferred where a contrdct is in place and the charity is not yet entitled to the income. Cjifts in kind donated for distribution are included at valuation and recognised as incom¢ when they are distributed to the projccls. CJifts donated for r¢sale are in¢lud¢d as income when they are sold. Donat¢d facilities are included at the valuc to the charity whcrc ihi8 can be quanlifi¢d and a third party is bearing the cosL No amounts are includcd in the accounts for servic&% donated by volunteers. Grants are recognised in ￿1] in the Statement of Financial Activiti¢s in the year in which they ar¢ r¢¢¢ivable. -22- SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR 'I'HL YEAR EI¥4DED 31 MARCH 2022 Accounting policie5 (continued) 1.4 Incoming resources (coutinued) Donat¢d s¢ryi¢es or facilities, which comprise donated services, Arc included in incom¢ at a valuation which is an estimaie of the finan¢ial cost borne by the donor where such a cost is quantifiable and m¢asur&ble. No income is recognised where there is nu financial cost bom¢ by a third party. Incom¢ tax r¢¢overable in relation to investment income is recognised at the timc thc investh)ent income is receivable. 1.5 Resourees expended All expendilure is accountcd for on an accruals basis and ha5 been inLluded under ¢xpense categories that aggregate all costs for allocation to activitics. Where costs cannot be dir¢¢tly attributcd to particular a¢tivities they have been allo¢afrd on a basis consi5tcnt with th¢ use of the resources. rundrdising costs are those incuTr¢d in seeking voluntary contributions ond do not include the costs of disseminating information in support of thc charitabl¢ &ctivities. Charitable activity costs 8re those incuffed direclly in the course of the charity's activili¢s. Governance costs ar¢ thos¢ incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 1.6 TAnglble fixed assets aDd depreciation All ass¢ts costing more than £500 are ¢&pitalised. Tangible fixed assets are ststed at cost le55 deprcciation. Depreciation is provided at rates calculated to write off the cost of fixed ass¢ls, less their estitnatrd residual value, ovcr their expected useful lives on the following basis: Fre¢hold property Long term leasehold property Leaschold property improv¢m¢nts Office equipm¢nl The g&in or loss arising on th¢ disposal of an as5ttt is deternJin¢d &s the diff¢￿￿¢¢ between the sale pro¢¢eds and the carrying value of ihe assct, and is recognis¢d in net income/(expenditure) for the y¢ar. over 25 years over 25 years over 20 years over 3 ycars 1.7 Impairnient of fixed assets At cach reporting end date, the charity reviews th¢ carrying amounts of its tangibl¢ and intangible assets to dclermin¢ whether there is any indi¢ation that thos¢ assets have suffered an impairnienL1055. If any such indication exists. th¢ rccoyerable amount of the ass¢t is estimated in order to dcterniine the extent of the impairnient loss if any. Recoverable amount l5 the high¢r of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows ar¢ discounted to their pr¢senL valu¢ using a pre-tax discount rate that refl¢¢ts current markct ass¢ssments of the time valu¢ of money and the risks specific to the ass¢t for which the eslimat¢s of future cash llows have not been adjusted. If the rccoverable amount of an asset is estimated to be less th￿ its carrying iimount. the catyying amoun¢ of the asset is reduced to its recovcrable amount. An impairnient loss is rcLognised immediately in ineomel(expendilure) for the year. unless th¢ relevant asset is carried at a revalued amounL in which c&8e thc impairment loss is treatcd as a revaluation d¢creas¢. 23 SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 Accounting policies (continued) 1.7 Impairment of fixed Assets (Continued) Recognised iMp￿ent losses are rev¢rs¢d if, and only if, the reasons for the impairnienl loss have ¢¢ased to apply. Where an impainnent loss subsequently r¢v¢rses, thc carrying amount of the asset is incre&s¢d to the revised estimate of its r¢¢overable amount, but so that the increased carrying amount docs not excccd thc carrying amount that would have been determined had no iKnpaimi¢nt loss been Tecognised for the asset in prior years. A reversal of an impainncnt loss is recognised imm¢diat¢ly. unless the relevant asset is ca￿led in at a r¢valued amount. in which case the reversal of the impairnient loss is treated as a revaluation increase. 1.8 InvestmeDts Investmenls aro statcd at market value at the balan¢¢ sheet date. The statement of financial ￿tIVitIeS includes the net gain5 and loss¢s arising on revaluations and disposals throughout the year. (i) Subsidiary undertakings Invcstmcnts in subsidiaries are valued at cost less provision for impAirnient. (li) Associated undertakings Investments in associates are stated at the amounl of the charity's share of net assets. Thc statcm¢nt of financial &ctivities includes the charity's share of the associated ¢omp&ny's profits/(losses) after taxation using the equity accounting basis. 1.9 Leasing and hire purchase commitments Rentals payable under opernting leases are charged against incomc on a straight line basis over th¢ p¢riod of the lease. 1.10 Penslons Th¢ charity operates a defined Contribution pension SLheme 8nd the pension char¥¢ represents the amounts payable by the charity to th¢ fvnd in resFK¢t of the year. 1.1 I Basis of con5011d￿ti0rt Thc finan¢ial statements consolidat¢ the accounts of SOAR Community and all of its subsidiary undertakings {'subsidiaries'). 1.12 Cash and cash equivalents Cash and caqh equivalents includ¢ cash in hand, deposits held at oall with banks.. oih¢r short-tem liquid investments with original marurities of thrcc months or less, and bank overdrafts. Bank oveTdrafts are shown within borrowin¥ in Current liabilities. 1.13 Financial instrumeuts The chaTity has elected to apply the provisions of S¢¢tion I I 'B￿le Financial Instruments. and S¢otion 12 '0ther Financial Instruments Issues, of FRS 102 to all of its finan¢ial instruTn¢nts'. Financial instruments are recognis¢d in the charity's balance sheet when th¢ charity becomes party to the contractual provisions of the instrum¢nt. Financial assets and liabilities are orfseL with the net amounls presented in the financial statements, wh¢n there is a legally enforccable right to set off thc reco8nised amounts and there is an inl¢ntion to settle on a net basis or to realis¢ the asset and settle the liability.8imultan¢ously. -24- SOAR COMMUNITY NOTES TO THE ACCOUNfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH2022 Ac¢ountiDg policies (continued) 1.13 Financial instrnm¢Dts (¢ontinued) Basicfinaneial 4Tssets Basic financial &ssets, which include debtors and cash aThd bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amurtised cost using the effectivc interest meihod unless the arrangement constitutes a financing transaction, where the Éransaction is measured at thc present v&lue of the future receipts disLounted at a market rate of interest. Financial ssets classified &$ receiv&bl¢ within one year atr not amortised. DerecogAilioK ofjlnancial assets Financial assets are derecognised only when th¢ contractual rights to the c&8h flows from the &sset expire or are settled. or when the chgrity transfers the financial ass¢t and substantially all the risks and rewards of ownership to anoih¢r entity, or if somc significant risks and rewards of uwnership are retain¢d but control of the asset has tran5f¢rTed io another paty that is able to sell the asset in its entlTety to an unrelated third party. B￿le￿nancIal liabilitles Basic financial liabilities. in¢luding creditors and bank loans are initially recognis¢d at transaction pri¢e unless the arrangement constitutes a finan¢in8 transaction, where the debt instrument is m¢asur¢d at the present value of the futur¢ payments discounted al a market ratc of interest. Financial liabilities olassified as payable within on¢ year are not amortised. Debt in8trument5 are subsequently cakTied ar amortis¢d ¢osL using th¢ effective interest rate method. Trade credilors &re obligations to pay for goods or services that h&ve been acquired in the ordinary course of operations from suppliers. Accounts payable are ¢lassifi¢d as current liabilities if payment is due within one year or Icss. If not, Ihey are presentcd as non-currenl liabilities. Tradc creditors are rc¢ognised inilially at transaction price and subsequently measurcd at amorti5ed cost using th¢ effective interest method. Derecugnition offindncial liabilitles Financial liabilities are derecognised when the Company's contractual obligation5 cxpire or are discharged or canc¢ll¢d. 1.14 Employee benefits The cost of any unused holiday entitlement is reco8nised in the period irt which the employee's seryic¢5 are re¢¢ived. Temiination benefits arc recognised immediately as 8n expense whcn the company is d¢monstr&bly committed to lerniinate the employmenl of an employ¢e or to provide termination benefits. 25- q q # t SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 LWIARCH 2022 Investments Group Charity 2022 2021 2022 2021 Rental income Intcrest rcccivable 337,654 47 306,093 59.661 65,128 Oth¢T income Group 2021 Ch￿ritY 2022 2021 2022 Other incotne 306 28- SOAR COMMUNITY IYOTES TO THE ACCOUNTS (coiYfiiYuED) FOR THE YEAR ENDED 31 MARCH 2022 Charitable activities (continued) Totsl 2022 Total 2021 Perforniance related Sanctuary - Health SCID Health Activities Fund {HAF) PKW Dementia PKW Suicide Prevention Ageing Beltsr PKW Community Champion5 Myself My Community PKW -Ihis Girl Can Cycling u￿Dr Bike PKW Walking for purpose Peak Parks Grant CCG Live I,ighter PKW Early Y¢ars rants- Restrictcd 36.578 49.071 573.398 60.(K)O 27,234 51,981 237,771 64.380 1.000 73,375 430.102 11.200 72,104 25,000 3.205 8,888 428,578 117.930 36,052 i 0.000 3,500 33,257 14.000 .680 Total restrictsd ptrforniance related grants 1378.044 1020,24Q 30- SOAR COMMUNITY NOTE.S TO I'HE ACCOUNTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2022 Charitable gctivities and expenditure on raising funds Other costs comprise: Grollp Charity 2021 2022 2021 2022 Rent Rental discounts off¢r¢d to tenants Rates Room hire Insurance Heat and light Telephon¢ Repairs and maintenance Computer costs P051age, packaging and stationery Cleaning Marketing and publicity Sundry expenses Bad debts t4ank charges Staff training Legal and professional fees Outsourccd cosLs- I lealth Outsourced costs- Core Outsourccd costs- Employment Outsourced costs- Volunteering Equipm¢nt leasing Interest adjustment on non-bank loans 2.630 3,657 1,724 27,181 4.575 13.033 44,875 19.907 I17,828 51.941 2,273 21.039 7,720 5.761 2.417 1.167 1.674 4,018 319,586 3.545 7.987 18,616 12,310 10.200 24,057 4,575 6.559 16,444 9,379 62,636 51,286 1,864 4.777 8,048 2.426 1,265 369 458 10,003 43.345 21,943 63,169 32,141 3,629 35,505 8.287 3,487 204 I,iii 2,765 3,852 651.117 S,921 384 103 651 3,308 18,044 10.883 20,879 30.003 3,723 16,301 6,985 2.849 386 2.765 3.628 652,068 5,921 384 103 325,738 3.545 35 651 35 908,406 660,456 796,417 543,788 Grant funding of Activities Share of governance costs (5¢¢ note 8) 30,687 33,903 30,687 33.903 952 Group Chgrity 2022 2021 2022 2021 Grants. lo institutions (23 granls) (2021: 25) No grants were paid to individuals during the year (2021: £nil). 33 SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ELNDED 31 MARCH 2022 Trustees None of the truslees (or any persons ¢onne¢t¢d with them) received any remuneration or any other benefits from employmcnt with the charitable company or any oth¢r related entity during the year, and no truslee expenses have been incurred (2021.. £nil) 10 Employe Number of employees 'I'he average Dumber of ¢mploy¢¢s during the year w&8'. Graup Charity 2022 Number 2021 Number 2022 Number 2021 Number Trustccs Managem¢nt and administrntioft S¢rvic¢ delivcry 18 12 28 18 18 12 28 18 27 27 Employment costs Group Charity 2022 2021 2022 2021 Wages and $&I￿leS Social security costs Othcr pension costs 798.214 58.278 749.774 52,863 798,214 58,278 749.774 52,863 No employees r¢c¢ivcd remun¢ration amountin8 to more than £60,000 in either year. 35- SOAR COMMUNITY NOTES TO THE AccO￿Ts (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 11 Tangiblc fixed a&8ets Group Freehold property Long tcrn) I￿sehold property Improvements Fixtures, to leasehold rittings and property equipment Totsl Cost Ai l April 2021 Addiiions at cost Disposals at cost 5,002.185 75,000 15,740 178,476 5,271.401 At 31 March 2022 Depreciation At l April 2021 Charge for the year Disposals 1.886,366 191,683 27,000 3,000 10,169 787 l56,825 9,323 2,080,360 204.793 At 31 March 2022 2,078 049 6 148 2 2W&3. Yet bovk value At 31 MArch 2022 2 924,136 At 31 March 2021 3,1_l5 819 51 3 191041 Charity Loog term leasehold property Jmprovementg to leasehold property Fixtures, riltings equipmettt Totsl Cost At l April 2021 Additions at cost Disposals at cost 75,000 15,740 43.644 134,384 At 31 March 2022 Depreciation At l April 2021 Charge for the year Disposals 27,000 3.000 10,169 787 38,450 4,314 75,619 8.101 At 31 M4rch 2022 Net bookvalue At 31 March 2022 45 At 31 March 2021 36- SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR E￿,DED 31 MARCH 2022 11 Tangible fixed assets (contimued) In prcvious years SOAR F.nteryrises l.imited, received donated land worth £210.000. this has been recogni5ed within th¢ value of the fTeehold property. No depreciation h&s been charged on the land element of the property. SOAR Works Enterprise Centr¢ is th¢ development included within frcchold property. It is locatcd in an area of significant deprivation. an are& where the market has tailed and an area thal needs to be economically rcgcncratcd. SOAR Works F.nterprise Centre is part of th¢ plan for economie regeneration. This 15 the reason why £4.8m of public money has been invested in th¢ building. Th¢ building ilself was not considered to be worth £4.8m on th¢ open markct. The difference will be generated through the long tern) impacts of th¢ dev¢lopm¢nt i.e. local job creation, ￿ businesses move in Bnd acting As a beacon for business dei'elopment. It has chang¢d th¢ image of the areL making it more attractive for pcople to move in. Indeed this was ihc purpose of the public investment in th# first place. This development is coupled with the development orth¢ new District Ccntrc at Chaucer (new Learning Ccntrc and ASDA Store). the housing dcvclopment on the c)Id College sile and lh¢ n¢w housing developments l¢d by the Shefficld Housing Company. 37- SOAR COMMUNITY NOTES TO THE ACcOU￿s (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022 12 Fixed asset Inveslmentg Group IDvestmenls in Total participating interests Unlisted securities Market valme At l April 2021 Restatement of opening balan¢e- Group share of reserves will k (£773,540) x 50 /0 = (£386,770) 100 (390,038) (389.938) 770 Disposal of investment in ESP Projects Limited (100) (ioo) Share of nct profit of SOAR Build Limited 398 963 At 31 March 2022 Group investments at mark¢t value comprise: 2022 2021 Unlisted inv¢stments (ESP Projects Limitcd) Participating interests (SOAR Build Litnitsd) 100 390 038 All fixed asset invcstm¢nts are held in the UK and are held a5 part of the group's charitsble activities. H(bldings ofllRore than 200/0 The group holds more than 200/ts of the shar¢ capiial of the following company.. Sb*rcs held Company SOAR Build Limitcd Class Ordinary 50 The aggregate amount of capital and r¢serYes and the results of this und¢rtakin8 for the last relevant financial year were as follows: Profit for the yeAr Capi191 and reserves Participatlng interests Principal activities SOAR Build Limitrd Social enterprise 24.386 797,926 The inv¢stm¢nt in SOAR Build Limitcd is via th¢ charity's subsidiary: SOAR Entetpriscs Limited. and is held as parr ofLharitable activities. The profil for the year includes an adjustment of£793,202 in r¢lation to the waiver of amounts owed to related parties. 38 SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDLD 31 MARCH 2022 12 Flxed assets investments (¢onlinued) Charity investments in subsidiaries Market value Market valu¢ at l April 2021 and 31 March 2022 10 All fixed asset investments are held in the UK. Holdings of more than 20°/ Th¢ oh&rity holds more than 20% of the share capital of thc following companics: Shares held Company SOAR F.nterpriscs Limitcd SOAR Build Limited Class Ordinary Ordinary loo 50 The aggregat# amounl of lapilal and r¢s¢rv¢s and the results of these undertakings for the last relevant financial year were as follows.. Capital and reserve5 (Loss) I Profit for the yeAr Subsidiary undertgdkings PrinclpAI actiyitles SOAR Enterprises Limited SOAR Build Limited Social enterprise Social enterprise 93,069 24,3 86 {9.804) 4,724 The investment in SOAR Enterprises Limited is primarily to provide investment retu￿￿ for the charity. The investment in SOAR Build Limited is held &s part of charitable activiti¢s. 39- SOAR COMMUNITY I OTES TO THE ACCOUNTS (CONTIIYUED) FOR'fHE YEAR ENDED 31 MARCH 2022 12 Fixed assets investments (eontinued) The results of the charity's subsidiary are summarised as- Enterprises Limited Turnover 289.394 Administrative expenses Other operaiing income (469,888) 176492 Operating Ios5 (4,002) Interest receivable Inter¢st payable 47 Loss befor¢ taxation (9,804) Taxation Loss after taxatiorl L9,804) Fixed 8ss¢ts Curr¢nt assets 2,935,585 172 836 Aggrcgatc assets Liabilitie5 due under one year Liabilities due over one year (132.467) (2 882 935 A￿regate liabilities (3 015 402_) Capital and r¢s¢rv¢s -93.069 Capital commitments 40- SOAR COMMUNrrY NOTES TO THE ACCOUNTS (CONTINUED) FOR TIIE YEAR ENDED 31 MARCH 2022 12 Flxed a88et8 inveslments (continued) The charity's share of its olher significant investment is summarised as: SOAR Bulld Limited Turnover Cost of sales Administrative expenses Other operating in¢om¢ 4.724 Operating profIt 4,724 Interest receivable Interest payable Profit before tsxation 4,724 Taxation Profit after taxation Fixed as.seLs Current assets 25 48 Aggregate assets Liabilities due under one year Liabilities due ov¢r on¢ year (962) Aggrcgatc liabilities (962) Capital and reserves Capital commitsnents Th¢18sI financial statements for SOAR Build Limited were for the year ended 31 De¢¢mb¢r 2021. The reported profit after taxation of £4,724 excludes an adjustment of £793.202 in relation to th¢ waiver of amounts owcd to related parties. 41 SOAR COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR TIIE YEAR ENDED 31 MARCH 2022 13 Debtors Group Cbarity 2022 2021 2022 2021 Amounts falllng due within one year: Trad¢ d¢biors Amounts owed by group uThdet1akings Other debioTS Prepayments Knd accrued income 86,231 56,511 51,357 36.054 3,999 25,523 47,358 14,872 4,879 16.460 14 Creditors: amounts falling due within one year Group Cbarlty 2021 2022 2021 2022 Trade creditors T&xation and social se¢urity Amounts owed to group undertakings Other creditors Accruals and def¢rred incom¢ 19,275 16.286 37.279 12.666 15,407 2,054 34,436 311 55,866 40,543 20,000 8,750 Included in other ¢r¢ditors is a loan of £15,000 (2021: £12,000) held by the subsidiary. SOAR Enlerpris¢s Limited, payable to the Community Builders Inv¢stmenl Fund. which is sccurcd on the property to which il r¢lat¢s. Included in other creditors is a108n of £7.351 (2021: £5,438) held by the subsidiary, SOAR Enterprises Limited. payablc to thc Key Fund Investmcnts l.imited, which is unsecured. -42- SOAR cOMI￿U￿Ty NOTES TO THE ACCOU￿'Ts (COIYTINUED) FOR THE YEAR ENDED 31 MARC112022 15 Credltors: amounts falling due after one year Group Charlty 2022 2021 2022 2021 Other creditors Accruals and deferred incom¢ 422,056 447,726 422 Analysis of loans Not wholly repayable within five y¢&t by instalmenls Wholly repayable within five years 332,652 111755 377,974 444,407 465,164 Included in currcnt liabilities Instalments not due within fiv¢ ycars Included in other creditors is a loan of £368,463 {2021: £368.463) held by the .sub8idiary, SOAR Enterpris¢s Limited. payable to the Community Builders Inv¢stment Fund. which is s¢cured on th¢ property to which it relates. Included in other creditors is a loan of £53.593 (2021: £61,263) held by the subsidiary, SOAR Enterprises Limited. payable to the Key fund Investments Limited, which is unsecured. 16 Pension and other post-retiremellt benefit commitments Defined contribution 2022 2021 Contributions payable by the group and charity for the year The group operates a defined ¢ontribution pension scheme. The assets of the scheme held separntely (rom ihose of ihe group in independently administered funds. The pension cost ¢harg¢ r¢pr¢s¢nts contributions payable by the group to the fund. 43- i o C* m CC rn￿- mr10¥)￿0 e4 o¥D 400￿ oc 4 ry4 00¢¢ mocNp40 ¥> ¥vvu%% o* D¢rtm tr-OO** P4 0 Vl SOAR commuN￿y NOTES TO THE AccouKrs (coiYrTNUFD) FOR THE YEAR ENDED 31 MARCH 2022 17 Restricted funds (Continued) The Sancthary Health fund relates to a weekly social group aimed at redu¢ing so¢i81 i501ation for residents in Shiregreen. The Sanctuary Client contributions fund are clients own contributions lo the running of the weekly Social Café. The CCG fund is a development programme aimed at promoting collaborativ¢ working amongsi health and social care frontline workers. The Early Years fund is a volunteering programme aimed at increasing local participation within family eentres. The Social Cafe fund is a contribution to the Nnning Costs of the fortnightly social ¢af¢. The Ageing Better fund in which SOAR coordinate5 the Age Better Champion and Peer Mentor progrdmme (as part of Sheffield Cubed) and also delivers local elements through its volunteers, engaging in activity such as orL¢ to oT)e bcfricnding and activity groups su¢h &% craft plane modelling, social and physical exercise. 'll)e SCID (Sheffield Community Investment Deal) fund is to help English local authorities and their communities ¢xp¢ri¢n¢ing hi8h un¢xpe¢ted volumes of itnmigration to ease pressures on local services. The Health Aclivili¢s Fund is for school holidays fun and tood activiti¢s aimed at local families and young people. The SCC Dementia fund relates to the developm¢ni ofdem¢ntia fri¢ndly communities and the delivery of pccialist dcmcntia related activities across the north-east of Sheffi¢ld. Thc SCC Suicide Prevention fund relates to raising awaren¢ss of mal¢ mental health including training of frontline staff and volunteers. Th¢ PKW (People Keeping Well) fund relates to the provision of community based pr¢v¢ntativ¢ interventions and activities aimed at reducing social isolation and improving ac¢ess to services. The Community Champions fund relates to working with communiry partners to re¢ruit, support and train volunteers to deliver COVID-19 safe messaging and myth busting in the community. Specifically promoting v￿c1n¢ uptake with BAME COTnmunities and are&s where uptake has been ltsw. Myself My Comtnunity fund relates to a mental health support project, provtding soci&1 and wellbeing activities such as arts and ¢ngineering cafc, h¢alth ¢lass¢s, c(x)k and eat sessions and budget man&gcment. Thc PKW walking for purpose fund and the Peak Parks Grant fuDd r¢laie to the purchase of outdoor gym equipment and supported walking groups to increase physical activity. This Girl Can fund ¢ncourages &nd qupports more womcn and girls into sports and physical activity using a sports ambassador model to engagc thc communty- The Cycling UK/Dr Bike fund relates to wc¢kly bike maintenance classes involving rw'ruiting local residents to act as Cy¢ling UK ambassadors. Also, increasing uptake of cycling within loc&] communities. -46- SOAR COMMUNITY NOTES TO THE AccouNfs (CONTINUED) DOR 'fHE YEAR ENDED 31 MARCH 2022 17 Restricted fund5 (continued) The Live Lighter fund delivers a n¢ighbourhood wcight management service, aimed at supporting individuals to itnprovc their healthy lifestyl¢s and successfully lose weight. This is & suiFcontract from ZES"I' who hold th¢ City-wide ¢ontr&ct with SCC. Streetscene funds are money that is being held on behalf of Shefiield City Council. The Land at Knutton Road. LEGI, HCA and Community Builders funds are capitsl funds that provided Ihc funding For the SOAR Works Enlerprise Centre on Knutton Road. Suificient resources are held in an appropriate forni to enable each fund to be applied in accordance with any restrictions. 18 Designated funds As pr¢viously d¢tail¢d in Note 5. 19 Analysis of net Assets betheen funds Group D&*ignated funds Unrestricled funds Restricted fulld8 Total Fund balances at 31 March 2022 are r¢pr¢s¢tLt¢d by.. Tangible fixed assets Investments Currenl assets Creditors: amounts falling due within on¢ >'¢ar Cr¢ditors: amounts falling due after on¢ year 419,030 12,193 763,689 2.567218 2,986.248 12,193 1,026,350 41,968 220,693 (157,031) (157.031) 422 056 422 056) 2,7&13ll. Ch&rity De8ign8ted funds Unrestriettd ffunds Restricted fuDd3 Total Fund balances at 31 March 2022 are r¢pres¢nt¢d by.. Tangible fixed 85sets Invcstments Current assets Creditors.. amounts falling due within one year 50,664 10 706,023 50,664 10 889,567 41,968 141,576 61017) 61017) 47- SOAR COMMUNTrY NOTES TO THE ACCOUNTS (COYL fINUED) FOR TIIE YEAR ENDED 31 IMARCH 2022 20 Commitments under operatin% leases At 31 March 2022 th¢ grvup had annual commitments under non4ancellable operating le&ses as follows.. CJrovp ¥nd ebirity Plxllt and m#chinery Croup aDd charity Land and buildings 2022 2022 2021 2021 Expiry date: Within one year Between two and five ye&t In over fivc years 651 488 651 1,139 2.184 2,534 2,184 4,601 Duritlg the ycar £2.184 (2021- £117) Wds charged to the sialement or financial activities ofthe charity for non-planl and machinery operaling leases. 21 Capital eomtnitments The group and ¢harity had Capital commitments of £nil at 31 March 2022. 22 Related party transaclions SOAR Enterprises Limited is a IOOO/o owned subsidiqry of SOAR Community. SOAR Enterprises Limited and SOAR Community forni a VAT group. At the end of the year SOAR Entcrpriscs l.imit¢d owed SOAR Community £36.054 (2021: £47,358). SOAR Entcrprises Limited owns 5(P/o of the share capital of SOAR Build Limit￿. There w¢r¢ no transaction5 ￿tween SOAR Build Limited and SOAR Communily during the year. At the end of the year there was no balance outstanding between SOAR Build Limited and SOAR Community. Therc wcre no transactions between SOAR Build Limited and SOAR F,ntery)rises Litnited during the year. At the ¢nd of the year there was no balan¢e outstanding between SOAR Build Limited and SOAR Enterprises I.imited. The key management personnel of the charity comprise the Irustees and th¢ four tnanagers. The total cmploycc bcDcfit5 of th¢ key management personnel of the charity were £159,410 (2021: £148,643). 48- SOAR COMMUNITY NOTES TO THE AccouNfs (CONTINUED) FOR THE YEAR ENDED 31 MARCII 2022 23 CrltlcAI aeeounting £8timale8 and Judgements In thc application of the charity's accounting policies, the directors are r¢quir¢d to make judgements, estimates and assutnptions about the carrying amount of assets and liabilitie.s that are not readily appar¢nl from other sourccs. The estimates and asso¢iat¢d assutnptions are based on histori¢al exp¢ri¢nce and other factors that are Considered to b¢ rel¢vanL Aclual results may differ from these estimates. The estimates and underlying assumptions are r¢view¢d on an ongoing basis. Revisions to accounting estimat¢s ar¢ r¢¢ognised in the period in which the estimats is revised where the revision affects only that period, or in th¢ period of thc rcvision and future periods where the revision affects both cu￿ent and fvture periods. Ther¢ are no judgements or estimates which have a signiticant risk of causillg a makrial adjustment to the carrying amount of assets and liabililies. 24 Financial instruments Group 2021 Charity 2022 2022 2021 C4rryin2 Amount offinallclal Assets Debt instruments measured al ￿0￿]S¢d Lost Equity instruments measured at cost less impairnienl loo Carrying amount of financial liabililies Measured at amortlsed cost 25 Cash generated froml(used in) operations Grnup Charity 2022 2021 2022 2021 (D¢ficitySurplus for Ihe year Adjustments for.. Inv¢stm¢nl incomc recognised in profit or loss Depreciation and impairment of tangiblc fixed assets Finance costs (68.338) (136,724) 110,787 47,930 (47) (84) 204,793 5,849 202.573 5,849 8,101 8,269 Movements in w0￿1ng ¢apital., (Increa8e)/Decrease in debtors Incrcase/(tk¢r¢ase) ID creditors (30,196) 104,001 203 065) (15,750) 75,952 210012 C&8h genernted froml(used in) opcratlon8 27,450) al IIL&AL) -49-