RIVA PROJECT CHAIR OF TRUSTEES REPORT Financial year ending 31[st] March 2024
It has been another extremely successful twelve months for the RIVA Project.
Total income was £187.9k, with increases in student fees, charity takings (shop activities) and most notably café income, which was over 20% higher than in the previous year.
RIVA’s total expenditure during the financial year was £194.9k, reflecting an inevitable increase in café purchases required to support the higher level of activity, and particularly in employment costs. RIVA is proud to be a living wage employer as part of its not-for-profit , charitable purpose; we consider our staff and volunteers to be our major asset, and we believe that staff retention and development is vital.
Unsurprisingly, energy costs increased by almost 40% over the year to £11.5k (£7.0k 2022/3) and these costs will be a major focus for the coming year as we have secured grant funding to convert to renewable sources of electricity.
All areas of expenditure are kept under close review and actions taken, as necessary.
Overall, therefore, RIVA incurred a small operating loss of £(6.9k) over the twelve months.
As of 31[st] March 2024 the Charity held net assets of £115.9k . Unrestricted funds totalled £94.7k , and restricted funds-those held for a designated purpose-were £21.1k.
The RIVA Café continues to grow in popularity and provides a warm, comfortable and relaxed social environment. It’s now an important part of the local Community, with a number of groups using the facility as a regular meeting place. Our fantastic kitchen staff and volunteers deserve tremendous credit for the huge part they have played in this growth, and the maximum hygiene rating of 5 reflects the high standard of preparation.
Of course, the most important aspect of RIVA’s activities is in providing a safe and secure environment for our clients to learn, grow and socialise. We have xxx clients and continue to reflect on whether we have the capacity to support more of these young people living with a range of disabilities. We have three excellent support staff, who, together with volunteers, provide a wide range of educational activities in a purposedesigned activity centre.
Our Trustee Board meets bi-monthly to consider a detailed Agenda covering every aspect of RIVA’s activities , including Health and safety, safeguarding, finance and the regular review of our policy documents. We reaffirm our commitment to our charitable purposes at each meeting.
Discussions continue with Sheffield City Council over the Heads of Terms of a Lease for continued use of the facility, and it is hoped that a conclusion can be reached during the financial year.
Finally, and on behalf of the Trustees, I would like to express our gratitude and appreciation to our Management team, Denise and Mikala, for their efforts during the last year, to my fellow Trustees for their support and expertise, and to Thorntons Accountants Limited for the preparation of these annual accounts.
Colin R. Muncie
Chair of Trustees
Company registration number: 06266993 Charity registration number: 1123964 The R.I.V.A. Club/Project Ltd (A company limited by guarantee) Annual Rew)rt and Financial Ststements for the Year Ended 31 March 2024 Thomtons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshi S8 8SA
The ILI.VA. Club/Project Ltd Contents Refen and Administrative Details Strategic Report Trustees, Report 3to4 Accountants, Report Statement of Finanaal Activities 6t07 Balance Sheet Notes to the Financial Statements 9t016
The ILI.VA. Club/Project Ltd Reference and Administrative Details Charity Registration Number 1123964 Company Registration Number06266993 Registered Office The Riva Projett Charity & Coffee Shop 77 Laird Road Wisewood Sheffield South Yorkshire S6 4BS Accountants Thorntons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshire Page I
The ILI.VA. Club/Project Ltd Strategic Report for the Year Ended 31 March 2024 The trustees, who are directors for the purSeS of company law, present their strategic report for the year ended 31 March 2024, in Complian with s414C of the Companies Act 2006. The strategic report was approved by the trustees of the tharity on 5 November 2024 and signed on its behalf by: ..C.Mvno&llYotl.23thNoy.W24.1&2Z51 blin Muncie Trustee Page 2
The ILI.VA. Club/Project Ltd Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Publicbenefit The RIVA Cafe continues to grow in popularity and provides a warm, comfortable and relaxed social environment. It's now an important part of the local Community, with a number of groups using the facility as a regular meeting place. The most important part of RIVA'S acbvities is in providing a safe and secure environment for our clients to learn, grow and socialise. We have 13 clients and continue to reflect on whether we have the capacity to support more of these young people living with a range of diabilities. We have three excellent SUPFQrt staff, who, along with the vOluntr5, provide a wide range of educational activities in a purpose-designed attivity centre. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidan published by the Charity Commission for England and Wales. Trustees and OffirS The trustees and offirS serving during the year and Sin the year end were as follows: Trustees: Mr Colin Muncie (appointed 14 June 2024) Miss Reka Bartha (appointed 13 April 2023) Mr Christopher Merrick Mrs Vicky TcK)go(x Miss Kirsty Allen (appointed 14 June 2024) Mrs Debbie Susan Clarke Statement of trnstees. responsibilities The trust (who are also the directors of The R.l.V.A. Club/Projett Ltd for the purwses of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounb'ng Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustee5 a required to: select suitsble accounting policies and apply them consistently; observe the methcxls and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; Page 3
The ILI.VA. Club/Project Ltd Trustees, Report state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are resp)nsible for keeping proper accounting records that can disdose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also responsible for safeguarding the assets of the charitable company and hen 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 companvs website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on 5 November 2024 and signed on its behalf by: ,Ybiin Muncie Trustee Page 4
Chartered Certified Accountants. Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of The ILI.V.A. ClublProject Ltd for the Year Ended 31 March 2024 In order to assist you to fulfil your dLrties under the Companies Act 2006, we have prepared for your approval the accounts of The R.I.V.A. Club/Project Ltd for the year ended 31 March 2024 as set out on pages 6 to 16 from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Ass(Kiation of Chartered Certified Accountants we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.comlgblen/memberlstandards1 rules-and-standardslrulebook.htm. This report Is made solely to the board of directors of The R.I.V.A. ClublProject Ltd, as a body, in accordance with the terms of our engagement letter. Our work has bn undertaken solely to prepare for your approval the financial statements of The R.l.V.A. ClublProject Ltd and state those matters that we have agreed to state to the board of direttors of The R.l.V.A. Club/Project Ltd, as a body, in this report, in accordan with the requirements of the Association of Chartered Certified Accountants as detailed at http:Ilwww.accaglobal.com/gb/enltechnical-activities/technical-resources-searchl20091 octoberlfactsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The R.I.VA. aublProject Ltd and its ard of directors as a body for our work or for this reporL It is your duty to ensure that The R.l.V.A. Club/Project Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of The R.I.V.A. ClublProject Ltd. You consider that The R.l.V.A. ClublProject Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of The R.l.V.A. Club/Project Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or infomiation and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Thomtons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshire S8 8SA 5 November 2024 Page 5
The ILI.VA. Club/Project Ltd ststement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted Restrirted funds funds Total 2024 Income and Endowments from: Donations and legaaes other trading activities Other income 1,254 166,984 639 19,072 20,326 166,984 639 Total income 168,877 19,072 187,949 Expenditure on: Raising funds Charitsble activities (14,251) 161,120 (2,864) (17,115) 177 808 Total expenditure 175 371 194 923 Net expenditure 6,494 6,974 Net movement in funds (6,494) (480) (6,974) Reconciliation of funds Total funds brought forward Totsl funds carried foNard li 115 973 The notes on pages 9 to 16 form an integral part of these financial statements. Page 6
The ILI.VA. Club/Project Ltd ststement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legaaes other trading activities Other income 3,948 144,889 3,948 144,889 Total income 242,020 242,020 Expenditure on: Raising funds Charitsble activities (15,372) 201397 (15,372) 201397 Total expenditure 216 769 216 769 Net income 25,251 25,251 Net movement in funds 25,251 25,251 Reconciliation of funds Total funds brought forward Totsl funds carried foNard li 122 947 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 11. The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
The ILI.VA. Club/Project Ltd (Registration number: 06266993) Balance Sheet as at 31 March 2024 2024 2023 Note Current assets Stocks Debtors Cash at bank and in hand 3,400 3,359 138,534 3,400 4,328 140,379 145,293 148,107 Creditors: Amounts falling due within one year Net assets 115 973 Funds of the charity: Restricted income funds Restricted funds 21,183 Unrestricted income funds Unrestricted funds 122,947 Total funds li 115 973 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charty to obtsin an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their reskx)nsibilities for complying wtth the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 5 November 2024 and signed on their behalf by: .mcLEE.2EthJo2O2JA221 veolin Muncie Trustee The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered Offi is: The Riva Project Charity & Coffee Shop 77 Laird Road Wisewood Sheffield South Yorkshire S6 4BS These financial statements were authorised for issue by the trustees on 5 November 2024. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistendy applied to all the years presented, unless othervvise stated. Statement of compliance The financial ststements have been prepared in accordance with Accounting and Rep)rting by Charities: Statement of Recommended Practice (applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Att 2006. Basis of preparation The R.I.V.A. ClublProject Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounts'ng policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concem nor any significant areas of UnrtaInty that affect the carrying value of assets held by the charity. Income and endowments All income is recognised once the charty has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 9
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Donations andlegacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entided to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Expenditure All expenditure is recognised once there is a legal or construcbve obligation to that expenditure, it is probable settlement is required and the amount can be measured lIablY. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets use. Other supw)rt costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attrarting voluntary income, the management of investments and those incurred in trading activits-es that raise funds. Governan costs These include the costs attributable to the charitys compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set Jt in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corwration Tax Act 2010 or Secknon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. stock Stock is valued at the lower of cost and estimated selling Pri less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). Page 10
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transacbon price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initialw recorded at fair value, net of transaction costs. Interest-bearing borrowing5 are subsequently carried at amorbsed cost, with the difference between the proceeds, net of transacbon costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest meth(*J and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charty has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior peri¢JJs. Contributions to defined contribution plans are recLYJnised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is •• recognised as a prepayment. Page 11
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Financial instruments Classification Financial assets and financial liabilities are recognised when the charty becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are dassified according to the substsnce of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognibon andmeasurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction pri excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are onty offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are dereccNJnised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the tharity transfers to another party substantially all of the risks and rewards of ownership of the financial asseL or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised onty when the obligabon specified in the contract is discharged, cancelled or expires. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and asscKiates are measured at cost less impairment. For investsnents in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 12
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Fair value measurement The best evidence of fair value is a quoted pri for an identical asset in an attive market. When quoted prices are unavailable, the price of a rent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a g(x)d estimate of fair value, the fair value is estimated by using a valuation technique. 3 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 4 Stsff costs The aggregate payroll costs were as foll¢)ws: 2024 2023 Staff costs during the year were: Wages and salaries ScKial security costs Pension costs Other staff costs 129,872 3,279 2,442 132 93,200 631 2,026 5,483 135 725 101340 The monthly average number of penS (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Employees io No employee received emoluments of more than £60,000 during the year. 5 TalOn The charity is a registered charity and is therefore exempt from tsxation. Page 13
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 6 Stock 2024 2023 Stocks 3,400 3,400 7 Debtors 2024 2023 Trade debtors 3,359 4,328 8 Cash and cash equivalents 2024 2023 Cash at bank 140 379 9 Creditors: amounts falling due within one year 2024 2023 other taxation and scKial security Other creditors Accruals 5,583 574 23,163 2,768 570 21,822 10 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the heme and amounted to £2,H2 (2023 £2,026). Page 14
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 11 Funds Balance at 31 March 2024 Balance at i April 2023 Incoming Resour expended Unrestricted funds General 101,284 168,877 (175,371) 94,790 Restricted funds Total funds 122 947 187 874 194 848 115 973 Balance at 31 March 2023 Balance at I April 2022 Incoming Resour$ expended unstrICted funds General 242 020 216 769 Page 15
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 12Analysis of net assets between funds Unrestricted Total funds funds at 31 March General 2024 Current assets Current liabilities 145,293 29,320 145,293 29,320 Total net assets 115 973 115 973 Unrestricted funds General Total funds at 31 March 2023 Current assets Current liabilities 148,107 25,160 148,107 25,160 Total net assets 122 947 Page 16
The ILI.VA. Club/Project Ltd Statement of Financial Activities by fund for the Year Ended 31 March 2024 Unrestricted Funds Total Total Unrestrictedunrestricted Funds Funds 2024 2023 Income and Endowments from: Donations and legacies Other trading activities Other income 1,254 166,984 639 3,948 144,889 93,183 Total income 168 877 242 020 Expenditure on: Raising funds Charitsble activities (14,251) 161 120 (15,372) 201397 Total expenditure 175,371 216,769 Net (expenditure)lincome Net movement in funds (6,494) 25,251 Reconciliation of funds Total funds brought forward 101,284 97,696 Total funds carried fOard This page does not fomi part of the ststutory financial ststements. Page 17
The ILI.VA. Club/Project Ltd Statement of Financial Activities by fund for the Year Ended 31 March 2024 Restricted Funds Total Total Restricted Restricted Funds Funds 2024 2023 Income and Endowments from: Donations and legaaes Total income Expenditure on: Raising funds Charitsble activities (2,864) 16,688 Total expenditure Net expenditure 480 Net movement in funds (480) Reconciliation of funds Total funds brought forward Total funds carried forward This page does not fomi part of the statutory financial ststements. Page 18
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Other income (analysed below) 20,326 166,984 639 3,948 144,889 Total income 187 949 242 020 Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) (17,115) 177,808 (15,372) 201,397 Total expenditure 216 769 Net (expenditure)lincome Net movement in funds (6,974) 25,251 Reconciliation of funds Total funds brought forward 122 947 Total funds carried forward 115 973 This page does not fomi part of the statutory financial ststements. Page 19
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Donations andlegacies Gift Aid tsx reclaimed Trusts and foundations Donations 18,997 75 other trading artivities Student fees and activities Charity takings Cafe tskings 76,590 19,464 69,684 16,435 other income Funding 639 639 Raising funds Purchases Student food and trips Cafe purchases Cafe purchases Student activities Student activities Student sports hall Student sports hall (li) (938) (1,400) (13,244) (229) (98) (1,224) 29 (1,020) (8,367) (5,177) 808 Charitable artivities Wages and salaries staff NIC (Employers) Stsff pensions (Defined contribution) - pension scheme I TUOS - social accountability Rates Water rates Water rates Light, heat and power Insurance Repairs and maintenance (129,872) (3,279) (2,442) (93,200) (631) (2,026) (5,375) (394) (202) (248) (1,149) (11,581) (2,834) (9,573) This page does not fomi part of the statutory financial ststements. Page 20 (182) (7,047) (2,291)
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Repairs and maintenance Telephone and fax Office expenses Office expenses IT costs Subscriptions Hire of plant and machinery (Operating leases) Equipment purchase and hire Sundry expenses Cleaning and waste Travel and subsistence Travel and subsistence Advertising and marketing Accountancy fees Legal, professional and accountancy fees Bank charges Staff training (178) (611) (14) (635) (121) (486) (5,151) (908) (17) (992) (31) (70,003) (623) (681) (114) (438) (14,916) (144) (960) {8) (15) (147) (1,671) (5,460) (74) 132 (1,863) (378) 108 177 808 201397 This page does not fomi part of the ststutory financial ststements. Page 21
Company registration number: 06266993 Charity registration number: 1123964 The R.I.V.A. Club/Project Ltd (A company limited by guarantee) Annual Rew)rt and Financial Ststements for the Year Ended 31 March 2024 Thomtons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshi S8 8SA
The ILI.VA. Club/Project Ltd Contents Refen and Administrative Details Strategic Report Trustees, Report 3to4 Accountants, Report Statement of Finanaal Activities 6t07 Balance Sheet Notes to the Financial Statements 9t016
The ILI.VA. Club/Project Ltd Reference and Administrative Details Charity Registration Number 1123964 Company Registration Number06266993 Registered Office The Riva Projett Charity & Coffee Shop 77 Laird Road Wisewood Sheffield South Yorkshire S6 4BS Accountants Thorntons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshire Page I
The ILI.VA. Club/Project Ltd Strategic Report for the Year Ended 31 March 2024 The trustees, who are directors for the purSeS of company law, present their strategic report for the year ended 31 March 2024, in Complian with s414C of the Companies Act 2006. The strategic report was approved by the trustees of the tharity on 5 November 2024 and signed on its behalf by: ..C.Mvno&llYotl.23thNoy.W24.1&2Z51 blin Muncie Trustee Page 2
The ILI.VA. Club/Project Ltd Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Publicbenefit The RIVA Cafe continues to grow in popularity and provides a warm, comfortable and relaxed social environment. It's now an important part of the local Community, with a number of groups using the facility as a regular meeting place. The most important part of RIVA'S acbvities is in providing a safe and secure environment for our clients to learn, grow and socialise. We have 13 clients and continue to reflect on whether we have the capacity to support more of these young people living with a range of diabilities. We have three excellent SUPFQrt staff, who, along with the vOluntr5, provide a wide range of educational activities in a purpose-designed attivity centre. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidan published by the Charity Commission for England and Wales. Trustees and OffirS The trustees and offirS serving during the year and Sin the year end were as follows: Trustees: Mr Colin Muncie (appointed 14 June 2024) Miss Reka Bartha (appointed 13 April 2023) Mr Christopher Merrick Mrs Vicky TcK)go(x Miss Kirsty Allen (appointed 14 June 2024) Mrs Debbie Susan Clarke Statement of trnstees. responsibilities The trust (who are also the directors of The R.l.V.A. Club/Projett Ltd for the purwses of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounb'ng Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustee5 a required to: select suitsble accounting policies and apply them consistently; observe the methcxls and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent; Page 3
The ILI.VA. Club/Project Ltd Trustees, Report state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are resp)nsible for keeping proper accounting records that can disdose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also responsible for safeguarding the assets of the charitable company and hen 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 companvs website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on 5 November 2024 and signed on its behalf by: ,Ybiin Muncie Trustee Page 4
Chartered Certified Accountants. Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of The ILI.V.A. ClublProject Ltd for the Year Ended 31 March 2024 In order to assist you to fulfil your dLrties under the Companies Act 2006, we have prepared for your approval the accounts of The R.I.V.A. Club/Project Ltd for the year ended 31 March 2024 as set out on pages 6 to 16 from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Ass(Kiation of Chartered Certified Accountants we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.comlgblen/memberlstandards1 rules-and-standardslrulebook.htm. This report Is made solely to the board of directors of The R.I.V.A. ClublProject Ltd, as a body, in accordance with the terms of our engagement letter. Our work has bn undertaken solely to prepare for your approval the financial statements of The R.l.V.A. ClublProject Ltd and state those matters that we have agreed to state to the board of direttors of The R.l.V.A. Club/Project Ltd, as a body, in this report, in accordan with the requirements of the Association of Chartered Certified Accountants as detailed at http:Ilwww.accaglobal.com/gb/enltechnical-activities/technical-resources-searchl20091 octoberlfactsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The R.I.VA. aublProject Ltd and its ard of directors as a body for our work or for this reporL It is your duty to ensure that The R.l.V.A. Club/Project Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of The R.I.V.A. ClublProject Ltd. You consider that The R.l.V.A. ClublProject Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of The R.l.V.A. Club/Project Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or infomiation and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts. Thomtons Accountants Limited 213 Derbyshire Lane Norton Lees Sheffield South Yorkshire S8 8SA 5 November 2024 Page 5
The ILI.VA. Club/Project Ltd ststement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted Restrirted funds funds Total 2024 Income and Endowments from: Donations and legaaes other trading activities Other income 1,254 166,984 639 19,072 20,326 166,984 639 Total income 168,877 19,072 187,949 Expenditure on: Raising funds Charitsble activities (14,251) 161,120 (2,864) (17,115) 177 808 Total expenditure 175 371 194 923 Net expenditure 6,494 6,974 Net movement in funds (6,494) (480) (6,974) Reconciliation of funds Total funds brought forward Totsl funds carried foNard li 115 973 The notes on pages 9 to 16 form an integral part of these financial statements. Page 6
The ILI.VA. Club/Project Ltd ststement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2023 Note Income and Endowments from: Donations and legaaes other trading activities Other income 3,948 144,889 3,948 144,889 Total income 242,020 242,020 Expenditure on: Raising funds Charitsble activities (15,372) 201397 (15,372) 201397 Total expenditure 216 769 216 769 Net income 25,251 25,251 Net movement in funds 25,251 25,251 Reconciliation of funds Total funds brought forward Totsl funds carried foNard li 122 947 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 11. The notes on pages 9 to 16 form an integral part of these financial statements. Page 7
The ILI.VA. Club/Project Ltd (Registration number: 06266993) Balance Sheet as at 31 March 2024 2024 2023 Note Current assets Stocks Debtors Cash at bank and in hand 3,400 3,359 138,534 3,400 4,328 140,379 145,293 148,107 Creditors: Amounts falling due within one year Net assets 115 973 Funds of the charity: Restricted income funds Restricted funds 21,183 Unrestricted income funds Unrestricted funds 122,947 Total funds li 115 973 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charty to obtsin an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their reskx)nsibilities for complying wtth the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 6 to 16 were approved by the trustees, and authorised for issue on 5 November 2024 and signed on their behalf by: .mcLEE.2EthJo2O2JA221 veolin Muncie Trustee The notes on pages 9 to 16 form an integral part of these financial statements. Page 8
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by guarantee, incorporated in , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered Offi is: The Riva Project Charity & Coffee Shop 77 Laird Road Wisewood Sheffield South Yorkshire S6 4BS These financial statements were authorised for issue by the trustees on 5 November 2024. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistendy applied to all the years presented, unless othervvise stated. Statement of compliance The financial ststements have been prepared in accordance with Accounting and Rep)rting by Charities: Statement of Recommended Practice (applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Att 2006. Basis of preparation The R.I.V.A. ClublProject Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounts'ng policy notes. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concem nor any significant areas of UnrtaInty that affect the carrying value of assets held by the charity. Income and endowments All income is recognised once the charty has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 9
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Donations andlegacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entided to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Expenditure All expenditure is recognised once there is a legal or construcbve obligation to that expenditure, it is probable settlement is required and the amount can be measured lIablY. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assets use. Other supw)rt costs are allocated based on the spread of staff costs. Raising funds These are costs incurred in attrarting voluntary income, the management of investments and those incurred in trading activits-es that raise funds. Governan costs These include the costs attributable to the charitys compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Taxation The charity is considered to pass the tests set Jt in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corwration Tax Act 2010 or Secknon 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. stock Stock is valued at the lower of cost and estimated selling Pri less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO). Page 10
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transacbon price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interest-bearing borrowings are initialw recorded at fair value, net of transaction costs. Interest-bearing borrowing5 are subsequently carried at amorbsed cost, with the difference between the proceeds, net of transacbon costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest meth(*J and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charty has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior peri¢JJs. Contributions to defined contribution plans are recLYJnised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is •• recognised as a prepayment. Page 11
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Financial instruments Classification Financial assets and financial liabilities are recognised when the charty becomes a paty to the contractual provisions of the instrument. Financial liabilities and equity instruments are dassified according to the substsnce of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Recognibon andmeasurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction pri excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are onty offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are dereccNJnised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the tharity transfers to another party substantially all of the risks and rewards of ownership of the financial asseL or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised onty when the obligabon specified in the contract is discharged, cancelled or expires. Investments Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and asscKiates are measured at cost less impairment. For investsnents in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. Page 12
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Fair value measurement The best evidence of fair value is a quoted pri for an identical asset in an attive market. When quoted prices are unavailable, the price of a rent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a g(x)d estimate of fair value, the fair value is estimated by using a valuation technique. 3 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 4 Stsff costs The aggregate payroll costs were as foll¢)ws: 2024 2023 Staff costs during the year were: Wages and salaries ScKial security costs Pension costs Other staff costs 129,872 3,279 2,442 132 93,200 631 2,026 5,483 135 725 101340 The monthly average number of penS (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 No 2023 No Employees io No employee received emoluments of more than £60,000 during the year. 5 TalOn The charity is a registered charity and is therefore exempt from tsxation. Page 13
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 6 Stock 2024 2023 Stocks 3,400 3,400 7 Debtors 2024 2023 Trade debtors 3,359 4,328 8 Cash and cash equivalents 2024 2023 Cash at bank 140 379 9 Creditors: amounts falling due within one year 2024 2023 other taxation and scKial security Other creditors Accruals 5,583 574 23,163 2,768 570 21,822 10 Pension and other schemes Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the heme and amounted to £2,H2 (2023 £2,026). Page 14
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 11 Funds Balance at 31 March 2024 Balance at i April 2023 Incoming Resour expended Unrestricted funds General 101,284 168,877 (175,371) 94,790 Restricted funds Total funds 122 947 187 874 194 848 115 973 Balance at 31 March 2023 Balance at I April 2022 Incoming Resour$ expended unstrICted funds General 242 020 216 769 Page 15
The ILI.VA. Club/Project Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 12Analysis of net assets between funds Unrestricted Total funds funds at 31 March General 2024 Current assets Current liabilities 145,293 29,320 145,293 29,320 Total net assets 115 973 115 973 Unrestricted funds General Total funds at 31 March 2023 Current assets Current liabilities 148,107 25,160 148,107 25,160 Total net assets 122 947 Page 16
The ILI.VA. Club/Project Ltd Statement of Financial Activities by fund for the Year Ended 31 March 2024 Unrestricted Funds Total Total Unrestrictedunrestricted Funds Funds 2024 2023 Income and Endowments from: Donations and legacies Other trading activities Other income 1,254 166,984 639 3,948 144,889 93,183 Total income 168 877 242 020 Expenditure on: Raising funds Charitsble activities (14,251) 161 120 (15,372) 201397 Total expenditure 175,371 216,769 Net (expenditure)lincome Net movement in funds (6,494) 25,251 Reconciliation of funds Total funds brought forward 101,284 97,696 Total funds carried fOard This page does not fomi part of the ststutory financial ststements. Page 17
The ILI.VA. Club/Project Ltd Statement of Financial Activities by fund for the Year Ended 31 March 2024 Restricted Funds Total Total Restricted Restricted Funds Funds 2024 2023 Income and Endowments from: Donations and legaaes Total income Expenditure on: Raising funds Charitsble activities (2,864) 16,688 Total expenditure Net expenditure 480 Net movement in funds (480) Reconciliation of funds Total funds brought forward Total funds carried forward This page does not fomi part of the statutory financial ststements. Page 18
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Income and Endowments from: Donations and legacies (analysed below) Other trading activities (analysed below) Other income (analysed below) 20,326 166,984 639 3,948 144,889 Total income 187 949 242 020 Expenditure on: Raising funds (analysed below) Charitable activities (analysed below) (17,115) 177,808 (15,372) 201,397 Total expenditure 216 769 Net (expenditure)lincome Net movement in funds (6,974) 25,251 Reconciliation of funds Total funds brought forward 122 947 Total funds carried forward 115 973 This page does not fomi part of the statutory financial ststements. Page 19
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Donations andlegacies Gift Aid tsx reclaimed Trusts and foundations Donations 18,997 75 other trading artivities Student fees and activities Charity takings Cafe tskings 76,590 19,464 69,684 16,435 other income Funding 639 639 Raising funds Purchases Student food and trips Cafe purchases Cafe purchases Student activities Student activities Student sports hall Student sports hall (li) (938) (1,400) (13,244) (229) (98) (1,224) 29 (1,020) (8,367) (5,177) 808 Charitable artivities Wages and salaries staff NIC (Employers) Stsff pensions (Defined contribution) - pension scheme I TUOS - social accountability Rates Water rates Water rates Light, heat and power Insurance Repairs and maintenance (129,872) (3,279) (2,442) (93,200) (631) (2,026) (5,375) (394) (202) (248) (1,149) (11,581) (2,834) (9,573) This page does not fomi part of the statutory financial ststements. Page 20 (182) (7,047) (2,291)
The ILI.VA. Club/Project Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2024 Total 2024 Total 2023 Repairs and maintenance Telephone and fax Office expenses Office expenses IT costs Subscriptions Hire of plant and machinery (Operating leases) Equipment purchase and hire Sundry expenses Cleaning and waste Travel and subsistence Travel and subsistence Advertising and marketing Accountancy fees Legal, professional and accountancy fees Bank charges Staff training (178) (611) (14) (635) (121) (486) (5,151) (908) (17) (992) (31) (70,003) (623) (681) (114) (438) (14,916) (144) (960) {8) (15) (147) (1,671) (5,460) (74) 132 (1,863) (378) 108 177 808 201397 This page does not fomi part of the ststutory financial ststements. Page 21