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← Soar Community

2025-03-31-accounts

Company registration number: 05060698 Charity registration number: 1112008

SOAR Community

(A company limited by guarantee)

Consolidated Annual Report and Financial Statements

for the Year Ended 31 March 2025

SOAR Community

Contents (continued)

Trustees' Report 1 to 13
Statement of Trustees' Responsibilities 14
Independent Auditors' Report 15 to 18
Consolidated Statement of Financial Activities 19
Statement of Financial Activities 20
Consolidated Balance Sheet 21
Consolidated Statement of Cash Flows 22
Notes to the Financial Statements 23 to 42

SOAR Community

Trustees' Report

Reference and Administrative Details

The trustees (who are also directors of SOAR Community for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the charity.

Charity registration number : 1112008 Company Registration Number : 05060698 Trustees : A D Male Councillor P Price MBE J A Towl W T Yap A H Hurst (resigned 26 March 2025) B C Kelly C M Lane E J Houlston R A M Al-Sakkaf (resigned 4 May 2025) T Hussain Councillor A Khayum (resigned 14 July 2025) J R Hayles T K Godley S P Rippon M J Greaves Councillor M L Chaplin (resigned 9 June 2025) C J P Ross (resigned 31 July 2024) M S Rusling (appointed 25 September 2024) H T Usiku (appointed 29 January 2025) Chief Executive Officer : M S Ohri Secretary : S Whittaker Registered Office : SOAR Works Enterprise Centre 14 Knutton Road Sheffield South Yorkshire S5 9NU Auditor: Hawsons Chartered Accountants Pegasus House 463a Glossop Road Sheffield South Yorkshire S10 2QD

Page 1

SOAR Community

Trustees' Report (continued)

Solicitors : Bankers :

Rosalind Watchorn 10 Kenwood Park Road Sheffield S7 1NF Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB

Page 2

SOAR Community

Trustees' Report (continued)

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025.

Structure, governance and management

Constitution

SOAR Community is a charitable company (“charity”), limited by guarantee governed by its Memorandum and Articles 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

The trustees of the charity are also directors for the purposes of company law and under the charity's Articles are known as members of the Board. The Board has space for 8 community residents, 8 independents and 4 Councillors on the Board. The Board may appoint persons as members of the Board, either to fill a vacancy or as an additional member. A member so appointed must retire and be re-appointed at the next annual general meeting.

Method of appointment

Trustees are appointed and removed in accordance with the regulations made under article 13.1.6 of the Articles of Association. These regulations are reviewed annually. In accordance with the Articles of Association, members will be asked to confirm the appointment of new trustees.

Trustee induction and training

New trustees are encouraged to attend short induction session to familiarise themselves with the charity and the context within which it operates. These cover:

Trustees are provided with the Charity Commission's guide "the Essential Trustee" along with a copy of the Memorandum of Articles of Association and the latest financial statements. Additionally each trustee is provided with the SOAR Trustee Handbook that sets out the role of SOAR, its partners and how the Governance structure works.

Risk management

The Board has conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

A significant risk area is the potential for a loss of a major source of funding. This has led to the development of a plan to spread and diversify sources of income and increase unrestricted income reserves. The organisation has detailed business continuity and critical incident polices in place.

Internal risks are minimised by the system of authorisation and financial controls approved by the trustees. Procedures have been put in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the organisation’s premises.

SOAR group structure

SOAR has a 100% share in SOAR Enterprises Limited. SOAR Enterprises Limited has a 50% stake in SOAR Build Limited.

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SOAR Community

Trustees' Report (continued)

SOAR Enterprises Limited

SOAR Works Enterprise Centre on Knutton Road is a highly regarded building purpose designed to help businesses trade, interact, network and access support in a fresh and modern way. Formally opened in December 2011, the £4.8m Enterprise Centre offers high quality office space, light industrial units and artist studios and provides support services for new start-up and established businesses. http://www.soarworks.co.uk.

The building currently hosts a multitude of diverse businesses including a car mechanic, PC sales and repair, animation production, cleaning management services, driving recruitment, graphic designer, textiles producer, plumber, MP, care agencies, a range of artists including a custom bike specialist, disabled living centre. Currently 94% of the lettable floor space is let.

SOAR BUILD LIMITED

Principal activities

The Company's principal activity was to operate as a social enterprise company, training local people in construction skills whilst working for major contractors as a sub-contractor and directly for Registered Social Landlords. The Company has not traded during the current financial year, as all activities of the Company have ceased and, since that time, the Company has concentrated on finalising the cessation of its activities.

Business review

During 2024 the Company reported turnover of £nil (2023: £nil) and a loss before tax of £5,986 (2023: loss before tax of £24,218).

At 31 December 2024 the Company had no employees (2023: none).

Future developments

The Directors are currently taking steps to close the Company; however, as at the date of signing the financial statements, formal steps have not yet been completed. In the meantime, the Company remains a going concern.

SOAR COMMUNITY

Governance structure

The Board has space for 8 community residents, 8 independents and 4 Councillors on the Board. The tripartite structure enables us to create a Board of all the talents to steer and drive the strategic direction of SOAR Community.

Staff structure

SOAR is managed by the Partnership Manager, who works with and manages an Executive Management Team comprised of Finance Manager, Health & Wellbeing Manager, Family and Communities Manager and Centres Manager. In addition, the Partnership Manager manages the Longley 4 Green Business Development Manager and the Senior Employment Coach who oversees the Employment team.

The Centres Team, consists of 4 staff members. Health Services consist of 4 Senior Workers who manage the Welfare Coach Team, Wellbeing Coach Team, Social Prescribing Link Workers and Peer Support Team. The Family and Communities Team consists of 4 Community Development Workers, 1 Grant Administrator and a Lead Family Coach that manages a further 4 Family Coaches. Additional Core Team members include Finance Assistant, and Business Development Coordinator.

Objectives and activities

The Board conducted a deep review of the Vision, Mission, Values and Objectives in March 2020 that both sets out the future direction of SOAR and enables the board to assess whether each of the strategic objectives is being delivered. The Board’s rolling forward agenda reviews each objective individually over a 12 month cycle.

Page 4

SOAR Community

Trustees' Report (continued)

SOAR VISION

That North Sheffield will be a place where people love to live, to work and to do business. A well regarded, welcoming and friendly place renowned for its schools, housing and public buildings and its people’s ingenuity, creativity and flair.

SOAR MISSION

To build and strengthen local communities (people, groups, organisation and businesses), to enable and support sustainable and lasting positive changes to the life and well-being of North Sheffield residents.

SOAR VALUES

We believe in what we do, expect the highest standards at all times Responsible and and through feedback from clients, staff and partner organisations accountable drive positive changes in the way we work. Working openly with partners and clients delivers better services so Collaborative and inclusive we always work in this inclusive and transparent way. Respect Genuine in the support, empathy and care we supply to individuals. Courage Challenge and push the boundaries. Integrity Demonstrate honesty and credibility making mutual trust possible. Committed to achieving our goals in order to bring about positive Purpose social impact. Take an entrepreneurial approach to working with individuals, Entrepreneurial businesses, communities and partner organisations.

SOAR OBJECTIVES

To improve the health and economic wellbeing of individuals and families in North Sheffield.

To use community development approaches to develop and expand local community and grass roots organisations.

To develop, manage and support social/community assets and centres in North Sheffield.

To be a highly regarded, sustainable, innovative organisation, committed to developing employees, developing client-centered services, and acting as an advocate for North Sheffield.

Activity Objective 1

Supporting people to improve their health & wellbeing (through one-to-one and group work)

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SOAR Community

Trustees' Report (continued)

The types of activity and support delivered by the health & wellbeing team are centred around one-to-one work and group activity, covering:

Supporting people to improve their economic wellbeing (through one-to-one work)

Contracts with Sheffield City Council for the provision of support and services for people who are unemployed, supporting a team who work with the local community to help people back into learning and get ready to enter the job market.

The type of activity delivered are:

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SOAR Community

Trustees' Report (continued)

Running a high-quality volunteering programme (from low-level group support to student placements)

Burngreave Library - links to objectives 2 and 3 also

In September 2015 we took over the running of Burngreave Library. It is co-produced with Sheffield City Council. Despite the lack of funding we have maintained a library service over the last year. We have taken a whole team approach by the communities’ team who have worked alongside the volunteers to ensure the service remains open and developing the space into a community hub offering a variety of activities and events and welcome place.

Other key volunteering programmes:

Delivery of a North Sheffield social prescribing service

SOAR’s Social Prescribing Service works across 3 PCNs incorporating 22 GP Surgeries (part of North Locality) in North Sheffield, engaging over 1,900 clients.

Key Aspects:

Activity Objective 2

Develop local supply chains through a micro-commissioning approach, using small grants and spot purchasing of services.

This provides resource for:

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SOAR Community

Trustees' Report (continued)

Providing capacity building support to the local community, grass roots organisations and volunteers to shape their offer and implement new ways of working.

The Polaris Project is funded through the National Lottery’s Reaching Communities’ fund. The capacity building project strengthens grass root organisations by empowering and providing training, resources, partnerships and mentorship. It helps to improve their leadership, management and develops activities, enabling them to find solutions to better address community challenges and promote citizen participation to achieve sustainable impact. In 2024-25 we worked with 30+ groups and organisations to provide them with capacity building support and helped constitute 8 newly established groups.

The Building Thriving Communities Programme led by SCC with SOAR hosting a CDW, is designed to support organisations to keep their doors open through capacity building initiatives, similarly, to the Polaris Project but aimed at welcome places. We worked in collaboration with, NE LACs, FCH and ACT to deliver in the Northeast. In 2024-25, SOAR worked with 25+ groups and organisations to provide them with dedicated capacity building support and helped constitute 1 group.

Longley 4G – links to objectives 1 and 3 also.

SOAR jointly employ a Business Development Manager to activate the community centre, support the development of local groups, bring in new users, activate the commercial kitchen, develop bids for activity development and investment in the buildings and fully let their office accommodation. We also provide admin, management and finance support via our Core and Centres Team.

The Service Level Agreement between SOAR and Longley 4G is kept under review, it provides clarity of responsibilities for both organisations. SOAR’s ambition is to support Longley 4G to be a more independent organisation.

Developing the four Community Partnerships as an interconnected network, learning from each other and providing social interventions at a neighbourhood level

Lead organisation covering four Community Partnerships, acting as an interconnected network, learning from each other and providing social interventions at a neighbourhood level. In February 2023 we relaunched the community partnership meetings. Inviting partners from all 4 partnership areas:

Page 8

SOAR Community

Trustees' Report (continued)

Activity Objective 3

To manage and support social/community assets and centres in North Sheffield

Activity Objective 4

To be highly regarded, sustainable, innovative organisation, committed to developing employees

Page 9

SOAR Community

Trustees' Report (continued)

Public benefit achievements

SOAR has achieved the following charitable objectives, all of which are all for the benefit of the community:

The relief of poverty and unemployment.

The advancement of education, training or retraining, particularly among unemployed people and providing unemployed people with work experience.

The provisions of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people. In cases of financial or other charitable need, through help (i) in setting up their own business, or (ii) to existing businesses

The creation of training and employment opportunities by the creation of workspace, buildings and/or land for use on favourable terms.

The maintenance, improvement or provision of public amenities 3.1.8 the preservation of buildings or sites of historic or architectural importance.

The provision of public health facilities and childcare. The provision of recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances have need of such facilities.

Future plans

Further projects in the pipeline include:

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SOAR Community

Trustees' Report (continued)

Financial review

The consolidated results for the year ended 31 March 2025 are summarised in the Statement of Financial Activities on page 19.

Financial review - Charity

This year’s parent charity accounts show a surplus of £1,361,133 (2024: £343,325).

At the end of the year the parent charity had unrestricted reserves of £1,172,901 (2024: £984,055).

During the year, the charity received a capital grant from Youth Investment Fund of £1,353,236, this has been recognised as restricted income during the year. In future periods, the depreciation of the capitalised assets will be allocated against this restricted fund.

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SOAR Community

Trustees' Report (continued)

Financial review - Group

The group has made an overall surplus of £1,141,007 (2024: £359,981). The performance of the individual charity is outlined above. Also included in the group’s result is a surplus of £58,275 (2024: £195,052) in the group’s wholly owned subsidiary SOAR Enterprises Limited. Additionally, a loss of £6,071 (2024: £9,081) from the group’s share of SOAR Build Limited’s year end result. SOAR Build Limited is in the process of being voluntarily and solvently wound up. In addition the group result includes depreciation on assets.

£169,315 (2024: £169,315) is a consolidation adjustment where the related grant income has already been recognised in previous years and has been carried forward in reserves.

Principal funding sources

The principal funding sources for the group are currently as disclosed in notes 2-5 to the financial statements.

Investment policy

The Board has considered the most appropriate policy for investing funds subject to the overriding requirements of maintaining liquidity of funds. The Board is using a bank deposit account to earn interest on funds not immediately required.

Under the Articles of Association, the charity has the power to make any investment which the trustees see fit. The trustees have considered the most appropriate policy for investing funds and have taken into account the future needs of the charity.

Reserves policy

The Board has reviewed the reserves of the charity in line with Charity Commission guidance. This included analysing existing funds, considering possible future funding and taking in to account the expenditure to which the charity will be committed. In response to the substantial unknown factors the Board considered that six months of running costs are a sufficient level of reserves needed to maintain the charity's services which could otherwise be interrupted in the event of a delayed decision about grant or service agreement funding. The board calculates free reserves as the unrestricted funds balance at 31 March 2025 less funds that could only be realised by the disposal of tangible fixed assets held for charitable purposes or via disposal of an investment in associate. This gives unrestricted free reserves at 31 March 2025 of around £850,000. We believe that six months unrestricted operating costs in the coming year would equate to around £320,000. This figure does not take into account the costs of unforeseen repairs to our main charitable asset, the SOAR Works Enterprise Centre which could be extensive if and when they arise. It is for this reason we believe a higher level of free reserves than six months unrestricted operating costs should be maintained.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

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SOAR Community

Trustees' Report (continued)

Reappointment of auditor

A resolution will be proposed at the Annual General Meeting that Hawsons be appointed as auditors to the Charity for the ensuing year.

The Report of the Trustees has been prepared in accordance with the special provisions of Part VII of the Companies Act 2006.

In approving the Trustees’ Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

The annual report was approved by the trustees of the charitable company on 24 October 2025 and signed on its behalf by:

......................................... C M Lane Trustee

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SOAR Community

Statement of Trustees' Responsibilities

The trustees (who are also the directors of SOAR Community for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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SOAR Community

Independent Auditor's Report to the Members of SOAR Community

Opinion

We have audited the financial statements of SOAR Community (the 'charitable parent company') and its subsidiary (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Statement of Financial Activities, Statement of Financial Activities, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements or a material misstatement in the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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SOAR Community

Independent Auditor's Report to the Members of SOAR Community (continued)

Opinion on other matter prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the and the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 14, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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SOAR Community

Independent Auditor's Report to the Members of SOAR Community (continued)

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

The charitable company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charitable company and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Companies Act 2006, Health and Safety regulations and the Charities Act 2011. 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 fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the company’s result for the period, and management bias in key accounting estimates.

Audit procedures performed by the engagement team included:

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, 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.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of -the-auditor’s-responsibilities-for. This description forms part of our auditor's report.

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SOAR Community

Independent Auditor's Report to the Members of SOAR Community (continued)

Use of our report

This report is made solely to the charitable parent company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the group's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable parent company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

...................................... Simon Bladen (Senior Statutory Auditor) For and on behalf of Hawsons Chartered Accountants, Statutory Auditor

Pegasus House 463a Glossop Road Sheffield South Yorkshire S10 2QD

04/11/2025 Date:.............................

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SOAR Community

Consolidated Statement of Financial Activities for the Year Ended 31 March 2025

2025 2025
Unrestricted Designated Restricted Total Total
funds funds funds 2025 2024
Note £ £ £ £ £
Incoming resources
Charitable activities 2 260,222 14,888 2,628,099 2,903,209 1,570,367
Other charitable
activities 3 - - 12,685 12,685 34,560
Investment income 4 470,738 - - 470,738 402,769
Other income 5 59,464 - - 59,464 355,043
Total Incoming
resources 790,424 14,888 2,640,784 3,446,096 2,362,739
Resources expended
Raising funds 6 - - 5,207 5,207 10,303
Charitable activities 7 640,145 21,461 1,632,205 2,293,811 1,983,374
Total expenditure 640,145 21,461 1,637,412 2,299,018 1,993,677
Net incoming
resources/(outgoing
resources) 150,279 (6,573) 1,003,372 1,147,078 369,062
Other recognised
gains and losses
Other gains/losses (6,071) - - (6,071) (9,081)
Net movement in funds 144,208 (6,573) 1,003,372 1,141,007 359,981
Reconciliation of funds
Total funds brought
forward 1,042,544 9,500 2,505,577 3,557,621 3,197,640
Total funds carried
forward 1,186,752 2,927 3,508,949 4,698,628 3,557,621

All of the group's activities derive from continuing operations during the above two periods.

The notes on pages 23 to 42 form an integral part of these financial statements. Page 19

SOAR Community

Statement of Financial Activities for the Year Ended 31 March 2025

Unrestricted Unrestricted Designated Designated Restricted Total Total
funds funds funds 2025 2024
Note £ £ £ £ £
Incoming resources
Charitable activities 2 431,046 14,888 2,628,099 3,074,033 1,820,732
Other charitable
activities 3 - - 12,685 12,685 34,560
Investment income 4 107,749 - - 107,749 90,038
Other income 5 150,855 - - 150,855 47,297
Total incoming
resources 689,650 14,888 2,640,784 3,345,322 1,992,627
Resources expended
Raising funds 6 - - 5,207 5,207 10,303
Charitable activities 7 494,231 21,461 1,463,290 1,978,982 1,638,999
Total expenditure 494,231 21,461 1,468,497 1,984,189 1,649,302
Net incoming
resources/(outgoing
resources) 195,419 (6,573) 1,172,287 1,361,133 343,325
Net movement in funds 195,419 (6,573) 1,172,287 1,361,133 343,325
Reconciliation of funds
Total funds brought
forward 974,555 9,500 197,072 1,181,127 837,802
Total funds carried
forward 1,169,974 2,927 1,369,359 2,542,260 1,181,127

The notes on pages 23 to 42 form an integral part of these financial statements. Page 20

SOAR Community

(Registration number: 05060698) Consolidated Balance Sheet as at 31 March 2025

31 March 31 March 31 March 31 March 31 March 31 March
2025 2024
Group Charity Group Charity
Note £ £ £ £
Fixed assets
Tangible assets 10 3,607,310 1,224,878 2,646,957 101,147
Investment in subsidiary - 10 - 10
Investment in associates - - 6,071 -
3,607,310 1,224,888 2,653,028 101,157
Current assets
Debtors 12 217,603 370,168 132,662 281,615
Cash at bank and in hand 1,158,977 1,058,253 985,828 882,779
1,376,580 1,428,421 1,118,490 1,164,394
Creditors: Amounts
falling due within one
year 13 (255,919) (111,049) (177,176) (84,424)
Net current assets 1,120,661 1,317,372 941,314 1,079,970
Total assets less
current liabilities 4,727,971 2,542,260 3,594,342 1,181,127
Creditors: Amounts
falling due after more
than one year 14 (29,343) - (36,721) -
Net assets 4,698,628 2,542,260 3,557,621 1,181,127
Charity funds:
Restricted funds 17 3,508,949 1,369,359 2,505,577 197,072
Unrestricted funds 19 1,186,752 1,169,974 1,042,544 974,555
Designated Funds 18 2,927 2,927 9,500 9,500
Total charity funds 4,698,628 2,542,260 3,557,621 1,181,127

The financial statements on pages 19 to 42 were approved by the trustees, and authorised for issue on 24 October 2025 and signed on their behalf by:

......................................... C M Lane Trustee

The notes on pages 23 to 42 form an integral part of these financial statements. Page 21

SOAR Community

Consolidated Statement of Cash Flows for the Year Ended 31 March 2025

2025 2024
Note £ £
Cash flows from operating activities
Net cash (expenditure)/income 1,141,007 359,981
Adjustments to cash flows from non-cash items
Depreciation 6 217,788 204,101
Interest receivable 4 (1,611) (1,535)
Interest payable 7 5,849 5,849
Loss/(gain) on valuation of associate 6,071 9,081
1,369,104 577,477
Working capital adjustments
(Increase)/decrease in debtors 12 (84,941) 30,208
Increase in creditors 13 78,743 12,726
Net cash flows from operating activities 1,362,906 620,411
Cash flows from investing activities
Interest received 4 1,611 1,535
Interest paid (5,849) (5,849)
Purchase of tangible fixed assets 10 (1,178,141) (58,937)
Net cash flows from investing activities (1,182,379) (63,251)
Cash flows from financing activities
Repayment of loans and borrowings 13 (7,378) (372,138)
Net increase in cash and cash equivalents 173,149 185,022
Cash and cash equivalents at 1 April 985,828 800,806
Cash and cash equivalents at 31 March 1,158,977 985,828

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 23 to 42 form an integral part of these financial statements. Page 22

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Accounting policies

Statutory information

SOAR Community is a private company limited by guarantee (No. 05060698) and charity (No. 1112008) incorporated in England and Wales. The address of its registered office is: SOAR Works Enterprise Centre, 14 Knutton Road, Sheffield, South Yorkshire, S5 9NU.

Accounting Convention

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. There has been no material departure from these standards.

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

The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

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

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors and which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the accounts.

Page 23

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For public funded projects the entitlement to the income is related to the meeting of specific deliverables and is allocated between activities and between restricted and unrestricted funds according to the nature of the funding. Income relating to a specific future period is deferred where a contract is in place and the charity is not yet entitled to the income.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the accounts for services donated by volunteers.

Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Resources expended

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Charitable activity costs are those incurred directly in the course of the charity’s activities. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Tangible fixed assets and depreciation

All assets costing more than £500 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:


on the following basis:
Asset class Depreciation method and rate
Freehold property over 25 years
Long term leasehold property over 25 years
Leasehold property improvements over 20 years
Office equipment over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Page 24

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 Accounting policies (continued)

Impairment of fixed assets

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

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Investments

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Investments in subsidiaries are valued at cost less provision for impairment.

Investments in associates are stated at the amount of the charity’s share of net assets. The statement of financial activities includes the charity’s share of the associated company’s profits/(losses) after taxation using the equity accounting basis.

Leasing and hire purchase commitments

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.

Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

Basis of consolidation

The financial statements consolidate the accounts of SOAR Community and its subsidiary undertaking (‘subsidiary’).

Cash and cash equivalents

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

Page 25

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 Accounting policies (continued)

Financial instruments

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

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

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

Basic financial assets

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

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

Employee benefits

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

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

Page 26

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

1 Accounting policies (continued)

Critical accounting estimates and judgements

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no judgements or estimates which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

Page 27

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

2 Income from charitable activities

Group Group Group Charity Charity Charity
2025 2024 2025 2024
£ £ £ £
Unrestricted
ESF Job Clubs - 41,257 - 41,257
Other health grants 11,243 5,144 11,243 5,144
SAPA 99,487 122,021 99,487 122,021
North 2 11,132 53,322 11,132 53,322
Network North 64,581 80,457 64,581 80,457
Sheffield Housing 10,000 10,000 10,000 10,000
Other activities 63,779 65,994 234,603 316,359
Total unrestricted 260,222 378,195 431,046 628,560
Designated
Burngreave Library 14,888 6,468 14,888 6,468
Total designated 14,888 6,468 14,888 6,468
Restricted
Sanctuary - Health 6,264 5,096 6,264 5,096
Health Activities Fund (HAF) 283,647 316,041 283,647 316,041
PKW Dementia 85,776 58,000 85,776 58,000
PKW 434,638 435,806 434,638 435,806
Community Champions 10,000 20,000 10,000 20,000
CCG 11,665 105,933 11,665 105,933
PKW Early Years - 15,680 - 15,680
F&C Income 20,900 4,220 20,900 4,220
YIF 1,353,236 84,911 1,353,236 84,911
UKSPF 121,249 30,702 121,249 30,702
Synergy 32,223 11,938 32,223 11,938
SPF CDW 30,150 31,292 30,150 31,292
Polaris 35,767 32,077 35,767 32,077
Chronic pain 35,538 34,008 35,538 34,008
BSF 71,615 - 71,615 -
SCH 18,621 - 18,621 -
MEWB 12,810 - 12,810 -
North East Model
Neighbourhood 64,000 - 64,000 -
Total restricted 2,628,099 1,185,704 2,628,099 1,185,704
Total grants and donations
income 2,903,209 1,570,367 3,074,033 1,820,732

Page 28

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

3 Income from other charitable activities

3 **Income from other charitable ** activities activities activities activities
Group Charity
2025 2024 2025 2024
£ £ £ £
Social café 12,685 34,560 12,685 34,560
12,685 34,560 12,685 34,560
4 Investment income
Group Charity
2025 2024 2025 2024
£ £ £ £
Interest income 1,611 1,535 - -
Rental income 469,127 401,234 107,749 90,038
470,738 402,769 107,749 90,038

5 Other income

5 Other income
Group Charity
2025 2024 2025 2024
£ £ £ £
Other income 59,464 355,043 150,855 47,297
6 Expenditure on raising funds
Group Charity
2025 2024 2025 2024
£ £ £ £
Social café 5,207 10,303 5,207 10,303
5,207 10,303 5,207 10,303

7 Expenditure on charitable activities

Group Group Group Charity Charity Charity
2025 2024 2025 2024
£ £ £ £
Staff costs 1,079,127 1,017,855 1,079,127 1,017,855
Depreciation 217,788 204,101 21,044 3,787
Other costs 996,896 761,418 878,811 617,357
2,293,811 1,983,374 1,978,982 1,638,999

Page 29

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

7 Expenditure on charitable activities (continued)

Other costs comprise:

Other costs comprise:
Group Charity
2025 2024 2025 2024
£ £ £ £
Rent 40 3,485 10,386 9,798
Rates 11,563 11,088 10,241 9,981
Room hire 814 779 876 1,015
Insurance 18,779 24,925 11,343 16,834
Heat and light 56,514 60,261 23,369 23,323
Telephone 17,189 18,624 7,662 7,482
Repairs and maintenance 68,113 37,814 37,606 11,802
Computer costs 37,761 15,995 35,549 13,755
Postage, packaging and
stationery 3,078 3,391 2,393 2,850
Subscriptions 1,950 1,888 - -
Cleaning 43,846 42,668 23,944 21,987
Marketing and publicity 10,091 7,639 10,091 7,022
Sundry expenses 15,420 16,431 7,290 16,879
Bad debts 2,573 446 - -
Bank charges 1,602 1,551 817 775
Staff training 12,661 8,026 12,661 8,026
Legal and professional fees 18,206 15,221 12,732 11,247
Outsourced costs – Health 161,785 155,646 163,082 157,095
Healthy Holidays (HAF) 226,230 251,651 226,230 251,651
Outsourced costs – Core 258,888 10,875 268,888 26,875
Outsourced costs – Employment - 133 - 133
Outsourced costs – Volunteering 870 1,176 870 1,176
Interest paid 5,849 5,849 - -
Governance costs 23,074 28,856 12,781 17,651
996,896 724,418 878,811 617,357
Group Charity
2025 2024 2025 2024
£ £ £ £
Grants to institutions 23,675 28,500 23,675 28,500

Page 30

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

8 Net incoming/outgoing resources

Net incoming resources for the year include:

8
Net incoming/outgoing resources
Net incoming resources for the year include:
2025 2024
£ £
Depreciation of fixed assets 217,788 204,101
The audit of the Charity's annual accounts 11,980 11,300
Other non-audit services 2,450 2,415
All taxation advisory services 800 775

9 Staff costs

The aggregate payroll costs were as follows:

Group Group Group Charity Charity Charity
2025 2024 2025 2024
£ £ £ £
Wages and salaries 931,835 879,531 931,835 879,531
Social security costs 75,887 69,847 75,887 69,847
Pension costs 71,405 68,477 71,405 68,477
1,079,127 1,017,855 1,079,127 1,017,855

The monthly average number of persons (including senior management) employed by the group during the year expressed as full time equivalents was as follows:

Group Group Group Group Charity Charity Charity Charity
2025 2024 2025 2024
No No No No
Management and administration 17 18 17 18
Service delivery 25 24 25 24
42 42 42 42

No employees received remuneration amounting to more than £60,000 in the year (2024: none).

Pension costs are allocated between activities and between restricted and unrestricted funds on the basis of staff time.

No trustees, nor any persons connected with them, have received any remuneration from the group during the year. No (2024: None) trustees had expenses reimbursed during the year.

The total employee benefits of the key management personnel of the charitable company were £213,132 (2024 - £207,671). The key management personnel of the charity comprise the trustees and the Senior Management Team, which at the year end comprises the:

Health Services Manager Finance Manager Centres Manager Families & Community Services Manager Partnership Manager

Page 31

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

10 Tangible fixed assets

Group

Group
Long Term Improvements Fixtures,
Freehold Leasehold to Leasehold Fittings and
Property Property Property Equipment Total
£ £ £ £ £
Cost
At 1 April 2024 5,002,185 75,000 74,677 172,332 5,324,194
Additions 33,366 - 1,144,775 - 1,178,141
At 31 March 2025 5,035,551 75,000 1,219,452 172,332 6,502,335
Depreciation
At 1 April 2024 2,461,423 36,000 12,530 167,284 2,677,237
Charge for the
year 193,356 3,000 18,044 3,388 217,788
At 31 March 2025 2,654,779 39,000 30,574 170,672 2,895,025
Net book value
At 31 March 2025 2,380,772 36,000 1,188,878 1,660 3,607,310
At 31 March 2024 2,540,762 39,000 62,147 5,048 2,646,957
Charitable company
Long Term Improvements Fixtures,
Leasehold to Leasehold Fittings and
Property Property Equipment Total
£ £ £ £
Cost
At 1 April 2024 75,000 74,677 43,644 193,321
Additions - 1,144,775 - 1,144,775
At 31 March 2025 75,000 1,219,452 43,644 1,338,096
Depreciation
At 1 April 2024 36,000 12,530 43,644 92,174
Charge for the year 3,000 18,044 - 21,044
At 31 March 2025 39,000 30,574 43,644 113,218
Net book value
At 31 March 2025 36,000 1,188,878 - 1,224,878
At 31 March 2024 39,000 62,147 - 101,147

Page 32

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

10 Tangible fixed assets (continued)

In previous years SOAR Enterprises Limited, received donated land worth £210,000, this has been recognised within the value of the freehold property. No depreciation has been charged on the land element of the property.

SOAR Works Enterprise Centre is the development included within freehold property. It is located in an area of significant deprivation, an area where the market has failed and an area that needs to be economically regenerated. SOAR Works Enterprise Centre is part of the plan for economic regeneration.

This is the reason why £4.8m of public money has been invested in the building. The building itself was not considered to be worth £4.8m on the open market. The difference will be generated through the long term impacts of the development i.e. local job creation, as businesses move in and acting as a beacon for business development. It has changed the image of the area, making it more attractive for people to move in. Indeed this was the purpose of the public investment in the first place.

This development is coupled with the development of the new District Centre at Chaucer (new Learning Centre and ASDA store), the housing development on the old College site and the new housing developments led by the Sheffield Housing Company.

11 Fixed asset investments

Cost of shares in subsidiary undertaking

At 1 April 2024 and at 31 March 2025

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----- Start of picture text -----
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Details of undertakings

Details of the investments in which the charitable company holds 20% or more of the nominal value of any class of share capital are as follows:

any class of share capital are as
follows:
Company Class of Proportion of voting
Undertaking number share rights and shares held
2025
2024
SOAR Enterprises Limited 05069455 Ordinary 100%
100%

The registered address of SOAR Enterprises Limited is Soar Works Enterprise Centre, 14 Knutton Road Sheffield, South Yorkshire, S5 9NU.

The profit for the financial period of SOAR Enterprises Limited was £100,528 (2024 - £195,052) and the aggregate amount of capital and reserves at the end of the period was £245,348 (2024 - £247,835).

Page 33

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

11 Fixed asset investments (continued)

Cost of shares in Associate undertaking

Cost of shares in Associate undertaking
£
At 1 April 2024 6,071
Share of net loss (6,071)
At 31 March 2025 -

Details of undertakings

Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

share capital are as follows:
Company Class of Proportion of voting
Undertaking number share rights and shares held
2025 2024
SOAR Build Limited 05731857 Ordinary 50% 50%

The registered address of SOAR Build Limited is First Floor, Neon Q10 Quorum Business Park, Benton Lane, Newcastle Upon Tyne, England, NE12 8BU.

The profit for the financial period of SOAR Build Limited was £Nil (2024 - £(18,163)) and the aggregate amount of capital and reserves at the end of the period was £Nil (2024 - £(12,141)).

12 Debtors

12 Debtors
Group Charity
2025 2024 2025 2024
£ £ £ £
Trade debtors 124,064 88,144 44,683 58,275
Due from group undertakings - - 246,298 195,832
Prepayments 89,080 40,372 76,894 25,150
Other debtors 4,459 4,146 2,293 2,358
217,603 132,662 370,168 281,615

Charitable company debtors includes £56,250 (2024: £56,250) receivable after more than one year.

Page 34

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

13 Creditors: amounts falling due within one year

Group Group Group Group Charity Charity Charity Charity
2025 2024 2025 2024
£ £ £ £
Bank loans 13,200 13,200 - -
Trade creditors 62,601 41,291 58,469 35,967
Other taxation and social
security 29,551 14,895 8,553 205
Other creditors 16,931 41,869 - 27,098
Accruals 133,636 65,921 44,027 21,154
255,919 177,176 111,049 84,424

Included in loans and borrowings is a loan of £13,200 (2024: £13,200) held by the subsidiary, SOAR Enterprises Limited, payable to the Key Fund Investments Limited, which is unsecured.

14 Creditors: amounts falling due after one year

Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Bank loans 29,343 36,721 - -

Included in loans and borrowings is a loan of £29,371 (2024: £36,721) held by the subsidiary, SOAR Enterprises Limited, payable to the Key Fund Investments Limited, which is unsecured.

15 Loans and borrowings

15 Loans and borrowings
Group Charity
2025 2024 2025 2024
£ £ £ £
The ageing of the loans is as
follows:
Due in one year 13,200 13,200 - -
Due between two and five years 29,343 36,721 - -
42,543 49,921 - -

16 Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £71,405 (2024 - £68,477). There were no outstanding contributions payable to the fund at the reporting date.

Page 35

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

17 Restricted funds

17 Restricted funds
Balance at
Balance at 1 Incoming Resources 31 March
April 2024 resources expended 2025
2025 £ £ £ £
Charity
CCG Engagement 74,954 11,665 (78,912) 7,707
Community Champions - 10,000 (10,000) -
Dementia Carers 20,000 85,776 (85,776) 20,000
F&C Income 630 20,900 (21,443) 87
HAF 20,786 283,647 (275,914) 28,519
PKW 8,790 434,638 (415,428) 28,000
Sanctuary - Health - 6,264 (6,264) -
SCC Social Café 14,695 12,685 (13,256) 14,124
YIF - 1,353,236 (162,959) 1,190,277
UKSPF - 121,249 (121,249) -
Synergy - 32,223 (32,223) -
Polaris 16,038 35,767 (48,789) 3,016
Chronic pain 34,008 35,538 (34,008) 35,538
SPF CDW 7,171 30,150 (27,033) 10,288
BSF - 71,615 (64,117) 7,498
SCH - 18,621 (13,257) 5,364
MEWB - 12,810 - 12,810
NEMN - 64,000 (57,869) 6,131
Total Charity restricted funds 197,072 2,640,784 (1,468,497) 1,369,359
Subsidiary
Streetscene 25,071 - - 25,071
Land Knutton Road 210,000 - - 210,000
LEGI - Knutton Road 1,554,233 - (123,644) 1,430,589
HCA Knutton Road 374,786 - (32,889) 341,897
Community Builders 144,415 - (12,382) 132,033
Total Subsidiary restricted funds 2,308,505 - (168,915) 2,139,590
Total restricted funds 2,505,577 2,640,784 (1,637,412) 3,508,949

Page 36

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

17 Restricted funds (continued)

17 Restricted funds (continued)
Balance at
Balance at 1 Incoming Resources 31 March
April 2023 resources expended 2024
2024 £ £ £ £
Charity
CCG Engagement - 105,933 (30,979) 74,954
Community Champions - 20,000 (20,000) -
Dementia Carers - 58,000 (38,000) 20,000
ICB Dementia & Dementia
Carers 2,000 - (2,000) -
F&C Income - 4,220 (3,590) 630
HAF 16,208 302,241 (297,663) 20,786
HAF Coordination 27,592 13,800 (41,392) -
ICB (PersCare) 15,405 - (15,405) -
Myself My Community 18,720 - (18,720) -
PKW - 435,806 (427,016) 8,790
PKW Early Years - 15,680 (15,680) -
Sanctuary - Health - 5,096 (5,096) -
SCC Social Café 2,815 34,560 (22,680) 14,695
YIF - 84,911 (84,911) -
UKSPF - 30,702 (30,702) -
Synergy - 11,938 (11,938) -
Polaris - 32,077 (16,039) 16,038
Chronic pain - 34,008 - 34,008
SPF CDW - 31,292 (24,121) 7,171
Total Charity restricted funds 82,740 1,220,264 (1,105,932) 197,072
Subsidiary
Streetscene 25,071 - - 25,071
Land Knutton Road 210,000 - - 210,000
LEGI - Knutton Road 1,677,877 - (123,644) 1,554,233
HCA Knutton Road 407,675 - (32,889) 374,786
Community Builders 156,797 - (12,382) 144,415
Total Subsidiary restricted funds 2,477,420 - (168,915) 2,308,505
Total restricted funds 2,560,160 1,220,264 (1,274,847) 2,505,577

Page 37

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

17 Restricted funds (continued)

This fund relates to a weekly social group aimed at reducing social Sanctuary Health isolation for residents in Shiregreen. This fund is a development programme aimed at promoting The CCG collaborative working amongst health and social care frontline workers This fund is a contribution to the running costs of the fortnightly The Social Café social café. This fund is for school holidays fun and food activities aimed at local The Health Activities Fund families and young people. This fund relates to the development of dementia friendly The SCC Dementia communities and the delivery of specialist dementia related activities across the north-east of Sheffield. This fund relates to the provision of community based preventative The PKW (People Keeping interventions and activities aimed at reducing social isolation and Well) improving access to services. This fund relates to working with community partners to recruit, support and train volunteers to deliver COVID-19 safe messaging The Community Champions and myth busting in the community. Specifically promoting vaccine uptake with BAME communities and areas where uptake has been low. Funding is from The National Lottery Community Fund, to delivery Polaris support and capacity building to local community groups and volunteers. UK Shared Prosperity Funding for the development and support of SPF CDW welcome spaces across the North East of the city. Funding for a Mental Health Peer Support Worker, to work with Synergy clients experiencing mental ill health one to one and in groups. UK Shared Prosperity Funding for employment support services, UKSPF supporting those furthest from the labour market into employment, education and training. Developing and delivering pain cafes in the community, to support Chronic Pain and educate people living with chronic pain, providing pain management strategies. These funds relate to capital funds that have contributed to the YIF refurbishment of the property at Southey Hill.

The Land at Knutton Road, These funds are capital funds that provided the funding for the LEGI, HCA and Community SOAR Works Enterprise Centre on Knutton Road. Builders

Page 38

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

18 Designated funds

18 Designated funds
Balance at Balance at
1 April Incoming Resources 31 March
2024 resources expended Transfers 2025
2025 £ £ £ £ £
Charity and Group
Burngreave Library 8,635 14,888 (20,878) - 2,645
Burngreave Library - Ward
Pot 865 - (583) - 282
Total designated funds 9,500 14,888 (21,461) - 2,927
Balance at Balance at
1 April Incoming Resources 31 March
2023 resources expended Transfers 2024
2024 £ £ £ £ £
Charity and Group
Burngreave Library 15,394 6,468 (12,362) - 9,500
Total designated funds 15,394 6,468 (12,362) - 9,500
Burngreave Library In September 2015 the charity took
running Burngreave Library.		 over the responsibility for

19 Unrestricted funds

19 Unrestricted funds
Group Charity
£ £
Balance at 1 April 2023 622,086 739,668
Net movement in funds for the year 420,458 234,887
Transfer during the year - -
Balance as at 31 March 2024 1,042,544 974,555
Group Charity
£ £
Balance at 1 April 2024 1,042,544 974,555
Net movement in funds for the year 144,208 195,419
Transfer during the year - -
Balance as at 31 March 2025 1,186,752 1,169,974

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SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

20 Analysis of net assets between funds

Group

Group
Unrestricted Restricted
fund Designated funds 2025
2025 £ £ £ £
Tangible fixed assets 337,255 - 3,270,055 3,607,310
Current assets 1,134,759 2,927 238,894 1,376,580
Creditors due within one year (255,919) - - (255,919)
Creditors due in more than one
year (29,343) - - (29,343)
Total net assets 1,186,752 2,927 3,508,949 4,698,628
Unrestricted Restricted
fund Designated funds 2024
2024 £ £ £ £
Tangible fixed assets 338,452 - 2,308,505 2,646,957
Investments 6,071 - - 6,071
Current assets 911,918 9,500 197,072 1,118,490
Creditors due within one year (177,176) - - (177,176)
Creditors due in more than one
year (36,721) - - (36,721)
Total net assets 1,042,544 9,500 2,505,577 3,557,621

Page 40

SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

20 Analysis of net assets between funds (continued)

Charity

Charity
Unrestricted Restricted
fund Designated funds 2025
2025 £ £ £ £
Tangible fixed assets 94,413 - 1,130,465 1,224,878
Investments 10 - - 10
Current assets 1,186,600 2,927 238,894 1,428,421
Creditors due within one year (111,049) - - (111,049)
Total net assets 1,169,974 2,927 1,369,359 2,542,260
Unrestricted Restricted
fund Designated funds 2024
2024 £ £ £ £
Tangible fixed assets 101,147 - - 101,147
Investments 10 - - 10
Current assets 957,822 9,500 197,072 1,164,394
Creditors due within one year (84,424) - - (84,424)
Total net assets 974,555 9,500 197,072 1,181,127

21 Financial commitments

21 Financial commitments
Group Charity
2025 2024 2025 2024
£ £ £ £
Within one year 1,695 409 - -
Between one and five years 5,624 2,249 - -
7,319 2,658 - -

As at 31 March 2025 the Group and the Charity had capital commitments of £Nil (2024: £Nil).

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SOAR Community

Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)

22 Analysis of net funds

Group

Group
Other non
At 1 April Financing cash At 31 March
2024 cash flows changes 2025
£ £ £ £
Cash at bank and in hand 985,828 173,149 - 1,158,977
Debt due within one year (13,200) 7,378 (7,378) (13,200)
Debt due after more than one
year (36,721) - 7,378 (29,343)
Net debt 935,907 180,527 - 1,116,434

23 Related party transactions

Transactions with trustees are disclosed in note 9.

The financial results of SOAR Enterprises Limited and SOAR Build Limited are disclosed in note 11 of these financial statements.

During the year, sales of £Nil (2024: £2,070), purchases of £3,890 (2024: £Nil) and grants paid of £1,995 (2024: £Nil) were made with Grimesthorpe Family Centre, a charity which P Price has a significant interest in.

During the year, sales of £41,332 (2024: £40,242), purchases of £Nil (2024: £13,245) and grants of £2,000 (2024: £Nil) were made to and from Longley 4G Limited, a charity which the key management personal of SOAR Community have control over.

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