The Terminus Initiative
(A company limited by guarantee Number 5210544 ) (Registered Charity Number 1113438)
Financial Statements
for the year ended 31 August 2023
| Contents | Page |
|---|---|
| Company Information | 2 |
| Trustees’ report | 3-4 |
| Examiner's report | 5 |
| Statement of Financial Activity | 6 |
| Balance sheet | 7 |
| NotestotheFinancialStatements | 8-11 |
The Terminus Initiative
Company information
Trustees Jonathan Dunning Jonathan Haigh Chair Karen Harrison Claire Keen Nigel Lee Samantha Nicholson Zaidie Orr lan Price
Company Secretary Ned Lunn
Company number 5210544
Charity number 1113438
Registered office 240, Lowedges Road, Sheffield $8 7JB
Bankers
The Co-operative Bank
Independent Examiner Craig Williamson White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL
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The Terminus Initiative
Trustees’ report
The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements for the year ended 31 August 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005 in preparing the annual report and financial statements of the charity.
Structure, governance and management The charity is a company limited by guarantee. The company was incorporated on 19 August 2004. Its governing document is the Memorandum and articles of association as amended by written resolution dated 8 March 2006.
The Trustees decided that no Annual General Meeting would be held due to the Covid-19 pandemic restrictions, but that a general meeting will be held whenever the mobility restrictions imposed by the government allow, and it is sensible to do so.
Charitable objects
To further such purposes as are charitable under the laws of England and Wales as the trustees see fit from time to time, in particular but not exclusively advancing Christian faith for the benefit of the community in Lowedges by: - Developing services and activities which help to address the physical, emotional and spiritual needs of all sections of the community.
-
Working in partnership with local residents, voluntary and community agencies and statutory service providers to help meet the needs of the community. - Complementing existing services to drug users and ex-users by providing spiritual support and counsel as appropriate.
-
Contributing to the reduction of crime and anti-social behaviour by assisting in promoting public confidence and strengthening community spirit.
Achievements and performance
Over the last year we have seen our work in the community grow from strength to strength.
As a result of the potential rental costs rising of the shop unit and upstairs offices upstairs, and the fact that they are no longer fit for purpose, we are looking to move from there to the Michael church. The Board of Trustees agreed to actively enter into conversations with the Yorkshire Congregational Union to negotiate a lease agreement to manage the building. This will give us a larger space to work but also secure the longterm future of the Foodbank.
We have also found new funders in the Gavins Foundation who have identified a larger shop unit which was the former Coop. Grant funding has also been offered to employ an operations manager. The aim is to set up an enterprise business in order to become as self-sufficient as possible. The process to employ a Operations Manager will commence early in 2024.
The work in the Healthy living and chaplaincy side of the charity are both thriving.
We are in process with a coach to re-evaluate our model of working in order to assimilate all aspects of our work. We have a new strap line: “Turning around lives for good.”
We will need to apply for further grant funding for the Community Outreach manager.
In the last year two Trustees resigned and we have appointed two new Trustees.
Jonathan Haigh
Chair
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The Terminus Initiative
Trustees’ report continued
Public Benefit
The Trustees have regular reports on activities, and examine the services provided to ensure that all our activities provide clear Public Benefit. In doing this they have regard to guidance provided by the Charity Commission. Our premises are used by a wide variety of other groups which serve the needs of local people. Our Equal Opportunities Policy seeks to ensure that all members of the community are able to access our services and activities.
Reserves Policy.
With agreement of our partners and following a decision of the board, The Terminus Initiative is to hold a reserve of unrestricted funds of not less than £10,000. This is to ensure that certain commitments may be upheld for a period of three months. This policy is to be reviewed annually.
Trustees responsibilities for the financial statements
Company and charity law requires the trustees to prepare financial statements for each financial period which show the state of affairs of the charity and of net income or expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently; - make judgements and estimates that are reasonable and prudent. - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. - state whether applicable accounting standards of recommended practice have been followed subject to any departures disclosed and explained in the financial statements.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to prepare financial statements. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
This report was approved by the Trustees on
and is signed on
their behalf by:
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q
Jonathan Haigh
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Chair
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The Terminus Initiative
Independent Examiner's report on the Accounts of The Terminus Initiative for the year ended 31 August 2023
| report on the accounts of the company for the year ended 31 August 2023, which are set out on pages 6 to 11.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
Q examine the accounts under section 145 of the 2011 Act;
0 to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity anda comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
-
to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accoun . Signed: } Craig Williamson White Rose Accounting for Charities The Ghyll
Threapland Aspatria . CA7 2EL , | od Date:
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The Terminus Initiative
Statement of Financial Activities
for the year ended 31 August 2023
Notes
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Gifts and donations | 11,160 | - | 11,160 | 10,088 | |
| Grants and contracts | 2 | 0 | 150,400 | 150,400 | 146,171 |
| Rental Income | 9,493 | - | 9,493 | 16,023 | |
| Café and Shop Sales Other Income |
0 ) |
- - |
6,521 | ||
| Total income | 20,653 | 150,400 | 171,053 | 178,803 | |
| RESOURCES EXPENDED | |||||
| Conversation club and migrant support | - | 2,279 | 2,279 | 1,629 | |
| Charitable activities | 64,232 | 64,232 | 49,023 | ||
| Salaries Costs | 3 | 6,546 | 82,973 | 89,519 | 89,401 |
| Payroll Administration Costs Rent Business and Water rates |
360 4,821 1,328 |
- 2,719 - |
360 7,540 1,328 |
432 7,315 1,252 |
|
| Heat & Light Cleaning Insurance |
2,003 13 749 |
211 - - |
2,214 13 749 |
2,298 363 703 |
|
| Equipment, Repairs and renewals Stationery, Telephone & Postage |
194 1,651 |
- 1,710 |
194 3,361 |
736 2,005 |
|
| Volunteer expenses Independent Examination Other expenditure Total resources Expended |
65 475 864 19,069 |
- - - 154,124 |
65 475 864 173,193 |
- 450 469 156,076 |
|
| Net incoming/(outgoing) resources | 1,584 | (3,724) | (2,140) | 22,727 | |
| Total Funds brought forward | 47,597 | 68,350 | 115,947 | 93,219 | |
| TotalFundscarriedforward | 7 | 49,181 | 64,626 | 113,807 | 115,947 |
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The Terminus Initiative
Balance sheet
as at 31 August 2023
Company number: 5210544
| Company number: 5210544 | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| CURRENT ASSETS | |||
| Debtors Cash at bank and in hand |
5 4 |
2,167 114,890 |
1,658 119,827 |
| 117,057 | 121,485 | ||
| LIABILITIES | |||
| Accruals | 6 | (3,250) | (5,538) |
| NET CURRENT ASSETS | 113,807 | 115,947 | |
| Total assets | 113,807 | 115,947 | |
| Total Funds | |||
| Unrestricted funds | 49,181 | 47,597 | |
| Restricted Funds | 7 | 64,626 | 68,350 |
| 113,807 | 115,947 |
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities;
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements are approved by the Trustees on
and signed
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on its behalf by: Q
a
Chair
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The Terminus Initiative
Notes to the accounts
for the year ended 31 August 2023
1 Accounting Policies
(a) Basis of preparation
- The Financial Statements have been prepared in accordance with the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 (effective from January 2015 and updated with effect from January 2016) - (the Charities SORP (FRS102)), as modified for smaller charities.
The Charity meets the definition of a public benefit entity as defined under FRS102.
(b) Income
Grants donations and Income from charitable trading activities are recognised in full in the Statement of Financial Activities in the year in which they are received.
(c) Restricted Funds
Restricted funds are used for specific purposes as laid down by the donor. Expenditure which meets the criteria is identified to the fund together with a fair allocation of management and support costs.
(d) Unrestricted Funds
Unrestricted Funds are other income received or generated for the objects of the charity without further specified purpose and are available as general funds.
(e) Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of V.A.T. The company is not VAT registered.
Governance costs of the charity relate to the costs of running the charity such as the costs of meetings, professional costs and statutory compliance, and includes any costs which cannot be specifically identified to another expenditure classification. In the opinion of the trustees all support costs relate to charitable expenditure.
(f) Tangible Fixed Assets and Depreciation
- Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset over its useful life.
(g) Fund Accounting
Funds held by the charity are either restricted funds or unrestricted general funds. Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds that can only be used for a particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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The Terminus Initiative
Notes to the accounts
for the year ended 31 August 2023
| 2 | Grants and Contracts | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Grants | £ | £ | ||
| Age Better | - | 962 | ||
| Church Burgesses Trust The Cooperative Foundation Green Prescribing |
- 1,500 4,290 |
- 263 6,905 |
||
| Groundwork UK | - | - | ||
| Heeley City Farm - Dementia Heeley City Farm - Healthy Holidays Lauderdale Trust |
5,000 80 11,200 |
3,750 9,150 11,200 |
||
| Lloyds Bank Foundation People Keeping Well - Resilient Communities People Keeping Well - Reachg-CWP Mens Mental Health Reach South Sheffield |
5263 | - 53,436 25,000 - - |
5,300 15,251 - 5,391 4,704 |
|
| Sheffield City CouncilWCC Sheffield City Council LAC Sheffield City Council Jubilee Sheffield City Council Fun Palace Sheffield City Council Kitchen Sheffield City Council Community Champions |
990 3,429 - - - 15,000 |
1,000 1,000 500 950 850 10,000 |
||
| Sheffield City Council Coronation | 400 | - | ||
| Sheffield City Council Healthy Holidays | 3,865 | - | ||
| Sheffield City Covid 19 Memorial Sheffield City Council Early Years |
2,000 4,704 |
- - |
||
| Sheffield City Council Greener Greenhill Sheffield Methodist Circuit |
932 - |
- 450 |
||
| Sheffield Methodist Connexion | 8,000 | 19,000 | ||
| Sheffield Town Trust | - | 1,500 | ||
| Yorkshire Sport | 2,075 | - | ||
| Contracts | ||||
| Voluntary Action Sheffield | 1,000 | - | ||
| Sheffield PCT | 7,500 | 48,045 | ||
| Total | 150,400 | 146,171 |
iS)
The Terminus Initiative
Notes to the accounts
for the year ended 31 August 2023
3 Staff Costs and Trustee Remuneration The Trustees received no remuneration in the year. The Staff costs were;
| TheStaffcostswere; | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Salaries & NI | 89,519 | 89,401 | |
| 89,519 | 89,401 | ||
| 4 | Cash at Bank and in Hand | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Balance at Bank | 114,836 | 119,585 | |
| Cash Balance | 56 | 242 | |
| 114,892 | 119,827 |
5 Debtors: Amounts due within one year
| 5 | Debtors:Amountsduewithinoneyear | ||
|---|---|---|---|
| 5 | Debtors: Amounts due within one year | 2023 | 2022 |
| £ | £ | ||
| Debtors | 2,167 2,167 |
1,658 1,658 |
|
| 6 | Creditors: Amounts falling due within one year | 2023 | 2022 |
| £ | |||
| Creditors Accountancy |
2,775 475 3,250 |
5,088 450 5,538 |
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The Terminus Initiative
Notes to the accounts
for the year ended 31 August 2023
- 7 Fund accounts
Fund Balances on restricted funds are;
| Opening balance |
Closing | |||
|---|---|---|---|---|
| Funder The Cooperative Foundation The Cutlers Company Freshgate Trust JG Graves Trust Leeds Building Society Church Burgesses Trust Green Prescribing Heeley City Farm - Dementia Heeley City Farm - Healthy Holidays Lauderdale Trust NHS CCG PKW- ResilientCommunities PKW PKW- Defibrillator Reach South Sheffield Reach ViaThe Brelms Trust Sheffield City Council Coronation Sheffield City CouncilWCC Sheffield City Council LAC Sheffield City Council EarlyYears Sheffield City Council Greener Greenhill Sheffield City Council COVID memorial Sheffield City Council Healthy Holidays Sheffield City Council Fun Palace Sheffield City Council Kitchen Sheffield City Council Community Champi Sheffield City Council Homework Sheffield City Council Singing Sheffield Methodist Connexion Sheffield Methodist Circuit StAgathas Trust Sheffield Town Trust VAS Yorkshire Sport |
1 September 2022 £ 263 500 113 345 585 2,123 1,489 2,908 3,802 4,192 - 13,227 - 412 8,355 2,459 - 495 - - - - - 950 603 1,836 510 350 20,933 83 500 830 - 487 |
Receipts £ 1,500 - - - - - 4,290 5,000 80 11,200 7,500 25,000 53,436 - - - 400 990 3,429 4,704 932 2,000 3,864 - - 15,000 - - 8,000 - - - 1,000 2,075 |
Payments £ (263) (247) (113) (345) (585) (2,123) (3,653) (5,054) (11,441) (3,700) (20,463) (53,436) - (6,744) (1,466) (280) (354) (1,000) - - (1,992) (2,502) (812) (603) (13,625) (510) (350) (17,162) (83) (500) (830) (504) (1,884) |
balance 31 August2023 £ = 253 - - - - 2,126 2,854 3,882 3,951 3,800 17,764 - 412 1,611 993 120 1,131 2,429 4,704 932 8 1,362 138 - 3,211 - - 11,771 - - - 496 678 |
| 68,350 | 150,400 | (152,624) | 64,626 |
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