Re8lstered Charity Number: 1146648 Company number: 07752686 St Matthew's House Llmlted ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS For the year ended 31 Au8USt 2021
St Matthew's House Umlted Content5 P48• Legal and admlnlstrative detalls Trustees, annual report Independent examlner's report Statement of financlal actlvltles io Balance sheet li Note5 to the accounts 12-18
St Matthe5 House Umited al and admlnlstratSve Informatlo Charlty number 1146648 Company number 07752686 oiher names the ¢harlty is known by. The Art House Trustees J McQuater The Rev'd G Naylor Chalrman The Rev'd W H Thomas- Vice Chalrman S Smlth G R Millar A C Knowles CA Gracey Company 5e¢retary J M Hanks Reg15tered offlce 8 Backflelds sheffield SI 4HJ Indefident Examlner susan Cochrane, FCA Employee of.. VAS Communlty Accountancy The CSrcle 33 Rocklngham Lane Sheffield SI 4FW VISCOmmun Account4h¢v
St Matthe5 House Umlted Trustee< annu report For tho year ended 31 August 2021 The Trustees. who are also Dirertors of the Company forthe purposes of the Companies Act. present thls Annual Report and Financial Statements of the company for the year ended 31 August 2021. The Trustees confimi that the Annual Report and Financlal Statements have been prepared In accordance wlth the Statement of Recommended Practice.. Accountlng and Reportln8 by Charltles preparlng their accounts in accordanee the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211second editlonl. the Flnanci31 Reportlng Standard applicable In the Unlted Kln8dom and Republlc of Ireland IFRS1021 and with the Charities Act 2011. ObJertlv•s and publlc benefft The charity's objects are speclflcally restrlcted to such purposes whlch are ex¢luslvely charitable In the laws of England and Wales, and for the publlc beneflt. as the trustees shall In thelr absolute dlscretlon determlne, and In partlcular Ibut not excluslvelvl.. i. to beneflt the inhabitants of the clty of Sheffield, and In particular those Inhabltants Ilvin8 In the eccleslastlcal parlshe5 In the dlocese of Sheffleld wlthout d15tlnctSon of sex, sexual orlentatlon, race or of polltical, religious or other opinions by brin8lng together the statutory, voluntary and other or8anlsatlons and Inhabltants In a common effort to.. a. Improve the physlcal, mental/emotlonal and splritual well.beln8 of Inhabltants, particularly inhabltants living wlth mental health dlfflcultles,. advance educatlon Ilncludlng rellgSous, moral and physlcal educatbonl.and c. provlde facllities in the Interests of soclal welfare for re¢reatlon and lelsure tlme occupatlon wlth the oblectlve of improvlng the condltlons of Ilfe of the sald Inhabltant5. In furtherance of these objerts but not otherwlse, the trustees shall have power to.. establlsh or secure the estab115hment ol a community centre,. maintaln or manage or co-operate wlth any statutory authorlty In the malntenance and management of a communlty centre: for actlvlties promoted by the char5ty In furtherance of the above objects. In settlng the oblectlves and plannlng the actlvltles the Trustees have glven careful conslderatlon to the Charlty Commisslon'5 8eneral guidan on publlc beneflt and fee char8in8. VAS CommUn¥*tanry
St Matthew'5 House Limlted Trustees. annual report- contlnued For the year ended 31 August 2021 Summary of maln activltles The Board of Trustee5 are extremely grateful and proud of the marvellous team who work at the Art House. Despite parts of the year still disrupted by Covid restrlctions the Art House tontlnues to operate, servin8 the communlty with a programme of commercial art and pottery acllvlties and a wellbelng offer to 5UPPOrt people who are vulnerable and Ilving with mental health issues. During this year the Art House has Strengthened under the capable leadership of our Interlm director, Andrew Seaton. With h15 Strong business background Andrew has Sutcessfully redeveloped the high level statements of and core values for the charlty, In collaboration wlth the Board and management team; reviewed the Art House'5 business model and implemented changes that simplified the strurture and operations,. developed a flnancially 5LlStalnable model for the Art House's operatlons with kev performance Indlcators across the department's. A new flnance manager, Jamle Brown, has made an IncredSble contrlbutlon to the management of our fSnances. Jamie took the lead on swltching our services to more c05t.effective agreements, consolidating our finances and improvlnB our suite of financial reports. He has brought a new clarltv to reportlng and 15 a key member of the team. Jamie is in close contact with both the management and the trustee board and Is a member of the finance Sub committee which meets each month. Fund raising was a key actlvity durSng this time and the charity Was Successful In a number of fundln8 8rants to help towards Covid recovery costs. A5 a consequence of the restrutturln8 Wlth the closure of the new Kitchen and the Art programming work bein8 overseen by the pottery manager the two staff took voluntary redundancy, The pottery continued to be popular despite the openln8 and clos5ng of the Art House and the Ilmlt on class sizes due to social distancin8. As a thank you to the pottery Open Studio members for thelr on-going flnancial support, the Board hosted an open studio open house week in the run up to the Christmas and New Year shut down. Work has been done on streamlinlng the Commercial Art programme ready for the post covid reopenlng. Plus work has been done on enhancing the Wellbeing model in readiness for full roll-out in the new year. Throughout the year, we continued to deliver a weekly on-line wellbeing offer to our vulnerable participants which was well received. And we have launched the Art House new website that offers a streamlined booking system. To ensure the fabric of the building is malntained a quinquennial revlew was carried out and a programme of repoirs identified which will be overseen by a new bulldings tommittee wilh a budget rlngfenced for the work. In addition, the lower Bround floor has been painted and we now have the pottery shop on site as well as on-llne. The Board would like to thank Liizie Lees for her role as Board meetlng secretary and welcome lan Burgess who has taken over the role. VA5 Comrnunty A¢¢ountsncv
Sl Matthe$ House Umlted Trustees, annual report- ntInUed For the year ended 31 Aulust 2021 Summary of main activities l¢ontlnuedl Wellbeln8 Classes: Tara Brown, our wellbeing manager, has malntained a wellbeing offer during the year but this offer has been reduced wlth refocuslng of her role on fundraising and bid writing. External tutors have also maintained a wellbelng offer. At the tSme of wrltlng new mode15 for our wellbeing are belng deslgned and the plan is for them to be partly commercial. Tara is u51n8 a prototype of our"Open Studlo" model for those wantiri8 to access wellbeing servlces. Moving out of the pandemic more of her time wlll be slngularly devoted to the management of our wellbeing offer, the buildin8 up of eternal relations and the partner5hlp for exhibltlons In the space. Commercl*l art and pottery: Throughout the year pottery has maintained and exceeded its targets. Mike 5cown, our pottery manager, had shown IncredSble imaglnation and flexSbllity In respondlng to the varSous challenges of the period. Pottery has been the maln source of Income and to the close worklng relatlonshSp of Andrew and Mike all the courses we offer have been put on a more profltable basis goin8 forward. De5plte the challenges posed by Social dlstanclng the courses have managed to 8row thelr proflt marglns. Over the course of the year we dld Identify the Commercial Art Programming Manager's job at risk and Llsa Parke5 took voluntary redundancy. L15a had contributed a lot to the Art House over the years and we thank her for her service. Art programs were le55 successful during th15 perlod and we decided to focus on the pottery model, which Is the largest Income generator. Management Structure The flatter mana8ement 5trurture brought In lust before the pandemlc was tweaked wlth the appointment of Andrew Seaton as Interim Strategit Lead on a part-time basis. We felt thls was necessary to provide the leadership to see us through the next stage of our development. We feel vindicated in this and are pleased with the results. At the time of wrlting we have now appointed, through open competltlon, a new permanent part tSme Strategic Lead Ben Clowes to bulld on Andrew's work. Andrew has agreed to stay involved through one of the board's working subgroups. 8en has made an excellent Start. The board met bi monthly during thls period. Its sub.committees wlth a focus on Finince and HR have met regularly in-between board meeting5.
St MatthS House Limited Trustees. annual report- contlnued For the year ended 31 August 2021 Summary of main activltle5 (Connued) Particulor areas focussed on by the board.. l. The board worked with Andrew to hone our high level statements. 2. The board successfully managed to use our assets to build a worklng reseNe, achlevlng our reserve pollcy for the first tlme In seven years. 3. The board oversaw and instlgated a new pollcy of a sllght monthly overpayment on our loans. 4. The board sought to support staff and recognise their hard work in challenglng times through a generous taxable bonus at Christmas ahead of salary reviews in 2022. 5. The board has sought to stngthen and diversify governance with the renewal of the finance Sub comrnittee and more frequent meetSngs. At the tSme of writlng the commlttees have been refreshed with 59me changes to thelr Membership and a new HR sub-commlttee Chair. In addition, a third sub-committee is being set up to oversee the upkeep of the buildin8S. Achlevement5 and Performanca al Finoncial Survival and an Improvin8 financial outlook. bl Clearer financlal reportlng has enabled the board to take more pToactlve deci5i0ns for the future. cl Courses continued to prove popular and have Improved Sncome generatlon. dl As a charity we have maintained a wellbeing offering. el KPIS have been Introduced for staff members and their areas of work. We have become more streamllned and focussed since the closure of the café. Thls has simplified our offer. Bl Staff have worked together to continue to maintain and improve an excellent offer. Renewed Interest In our exhlbition space5, tourse5 and Open Studio demonstrate that we have a stron8 and posltlve future. We have malntaSned the vast malorlty of our Open Studio subscrlptlons and numbers are 8rowln8 agaln. Postscrfpt Writing in April, 2022 it 15 remarkable to revlew the tlme between September 2020- August 2021. It was a challenging time, however 3 period where the charity was able to make great strides forward. The whole "covid" period caused us to make some difficult decislons but I believe this time has ultimately led to the strengthening of the overall position of the charity. There are still significant challenges ahead. We are always contemplating and working for the income of three months hence. but we now do 50 Wlth a stronger reserve and lower debts than at any point in the last seven years. Our greatest assets are our hard working and committed staff. Thi5 PQSltive report is a testament to them and we as a board are committed to them and their clients. It is my hope and prayer that this year we will continue to learn and grow, so that we can do more, reach more people, and greatly enhance our wellbelng work, for the sake of those we are called to serve. VAS Commuhity AtCDUntancy
St Matthevls House Llmited Trustees, annual report- contlnuÈd For ihe year ended 31 August 2021 Flnanclal Revlew and Reserves Pollcy The ststement of flnancial actlvitle51s set out on pa8e 10 of the financlal statements. Income for the year amounted to £293,256 12020.. £427,884). Total expenditure amounted to £305,611 12020: £356,514). Net movement In funds for the year was a deficit of £12,355 12020.. surplus £71,370) resultin8 in net assets at the year-end of £1,030,40612020.. £1,042,7611 The Trustees have considered the level of unrestrlcted funds whlch they see 35 approprlate to hold In reserve and have concluded that thls should be the equivalent of a minimum of three month's salarv expendlture. The Trustees have therefore set reserves at around £50,000. The Trustees wlll keep the level of reserve5 under review and monitor the level of reserves throughout the coming year. Free reserves at 31 August 2021 were £85,98212020'. £27,184) The flnanclal 51alements have been prepared on a goln8 concern basls. The Trustees have con51dered the level of funds held and the expected level of Income and expenditure for 12 months from authorlslng these fnancIal statement5. The bud6eted income and expendlture Is seen as 5ufflclent with the level of reserves for the charliy to be able to contlnue as a goln8 concern. The charlty also contlnues to receive the support of Its prlnclpal credltors and loan provlders to be able to adapt to any chan8es In the chèrlty's clrcumstances, The Trustees have concluded that the effects of Covld are non-adJustSnB to the charlty's abllity to contSnue to deliver Its prlmary purpose. However, Trustees recognise that challenges remain partlcularly with the inherent rSsk around the future generation of grant fundln8. Rlsk management The trustees have given consideration to the major rlsks to whSch the charlty is exposed and has satlsfied themselves that control systems and procedures are e5tabllshed in order to mana8e these risks. A rlsk re8iSter has been establlshed and 15 reviewed annuallv. VAS ¢ommurdtyActount3nry
St MattheS House Limited Trustees, annual report- contlnued For the year ended 31 Au8U$t 2021 Struclurei governance and management The charfjty Is governed by Its Memorandum and Articles of Assoclation and Is Incorporated as a company limited by guarantee. Members of the charity guarantee to contribute £10 In the event of winding up. The 501e Member of the Charlty Is Parochial Church Councll for the Eccleslastlcal Parish of Sheffield St Matthew In the Dlocese of Sheffleld. Governance Trustee5 are appolnted by the Parochial Church Councll of St Matthews, Carver Streèt, subject to the rules lald down in the Memorandum and Artlcle5 Of A550clatbOn. The term 'Board" Is deflned as the meetlngs of the trustee5. The Board'5 maSn duty Is to manage the Charlty, ensuring good governance and prartlce. Once appolnted, Trustees must make themselves aware of the terms of the Memorandum of St Matthew's House, familiarise themselves wlth the charlty's property, policie5, human resources, client needs and flnances. They wlll ensure that the staff are well looked after, that Investment of the charltv funds complies wSth the terms of the Memorandum, and that the strategy and objectives of St Matthew's house are developed. The Board wlll act excluslvely In the best interest of the charity. Therefore, a Trustee must not allow a 51tuation to arlse where thelr duty as a Trustee conflict5 Wlth their own personal interest. They are requlred to manage the charity and to ensure that the oblectlves of the chalr are met. The Board wlll spent time Inductlng new Trustees by Snforming them about: A brief history of the organlsation; StrategSc direction and mi55ion statement,. The structure of the organlsatlon, tommlttees, 5ub-commlttees, worklng groups, user groups, staff and volunteer5, and the partnership wlth the misslon of St Matthew's House,. and The bu51nes5 plan of St Matthew's House. The Board will ensure that new Trustees will know enough to be able to carry out thelr role. but not be overfoaded or mlslead them about the level of work involved. All Trustees give their time freely and no remuneration or expenses were paid in the year. VA5 Communltyfvttountary
St Matthew's House Limited Trustees, annual report. continued For the year ended 31 Au8USt 2021 Struct re and mana emen Day to day runnlng of the charlty Ss delegated to a management team led by a Strateglc Dlrector. The management and finances are administered throu8h the Board of Trustees whlch meets bi- monthly. There are two 5ub.committees of the board whlch focus on Flnance and HR. They meet ahead of full board meetings and report to them. Reports on flnance, work to ralse funds, HR and outcomes and outputs monltorSn8 are recelved, Small Company Provlslons This report has been prepared In accordance wlth the speclal provlslon5 for small companles under Part 15 of the Companles Act 2006. The trustees declare that they have approved the Tru5tees' annual report above on and signed on behalf of the trustees bv.. Prlnt name,. Trustee * c CommUn¥ACtntt
Independent examlnerfs ieport to the dirertors of St Matthew's House Llmiled l*he Companv) I report tothe charity dSrectors on my examlnation of the accounts olihe Companyforthe year ended 31 August 2021. Respon51ts111tles and basls of report As the charlws trusteès of the Company land also Its directors for the purposes of tompany lawl you are responsible for the preparation of the ac¢ount5 in accordance wlth the requirements otthe Companié5 Act 2006 I'the 2LKJ6 Act'l. HavSng satisfied myself that the accounts of the Company are not required to be audlted under Part 16 of the 2006 Act and are eliBlble for independent examination, I report In respect of my examinatlon of your charSt(s accounts as carried out undèr 5ertion 145 of the Charitie5 Ac¢ 2011 1.the 2011 Act'l. In carrylng out mv examination I have lollowed the Dlrections glven bythe Charity Commlsslon under se¢tion 1451SI Ibl of the 2011 Ind•pendent •xamln•Vs $taièm¢nt Slncè the Company's 8foss Income exceeded £250,000 your examlnef must be a member of a body 115ted In 5ectlon 145 of the 2011 Art. l Conflrm thai i am quallfled to undertake the examinatSon because l am a member of Instltutt of Chartered Accountants In England and Wales, whlch Is one of the listed bodles, I have completed my examlnatlon. I confirm that no matters have come to my altentlon in connectlon wlth the examlnatlon glvlng me causè io belleve.. accountln8 records were not kept In respect of the Company as requlred by sectlon 386 of the 2006 Act.. or the accounts do not accord with those records., or the accounts do not comply wlth the accountiThg requirements of section 396 of the 2006 Act other than any requirement that the accounts 8ive a 'true and falr view whlch Is not a matter consldered as part of an independent exarnlnatlon,. or the accgunts have not been prepared In atcordance wlth the method5 and prlnclples of the Statement of Recommended Practice for accountlng and reportlng by charltles appllcable to charitles preparln8 their accounts in accordance with the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021. I have no concerns and havè tome across no other matters In connectlon wlth the examlnatlon to whlch attentlon should be drawn In this report In Drder to enable a proper understandln8 of the accounts to be reached. Signed.. Susan Cochrane FCA Employee of VAS Community Accountancy The Circle 33, Rockingham Lane Sheffield SI 4FW Date.. VAS CommuhtyAc<ountsrKy
St Matthew's House Limrted Statement of flnanclal actlvltles Ilncorporating the in¢ome and expenditure account) Forthe ar •nded 31 August 2021 UnrestrScted Restrl¢ted fund5 funds Total Unrestricted Restricted 2021 funds funds Total 2020 Notes Income from.. Grants and donations 212,588 212,588 148,862 31.500 180,362 Charltable activltle5 52,426 52.426 172,014 172,014 Other tradlng activitie 27,827 27,827 59,763 59.763 Room rental Income 163 163 15,571 15,571 Investments- bank Interest 252 252 174 174 Total In¢om• 293,256 293.256 396,3B4 31,SOO 427,884 Expendlture on: Ralsln8 Funds 5,442 5,442 7,745 7,74S Charltable activities 193,482 27,428 220,910 216,558 19,575 236,133 Tradlng and other 79,259 79,259 112,559 77 112,636 278.183 27.428 305,611 336.862 19,652 356,514 Net Incomellexp¢ndltyr•) 15,073 (27,4281 112,3551 59,522 11,848 71,370 Fund transfers 16 2,900 12,9001 Net movement In funds 15,073 {27,4281 112,3551 62,422 8,948 71,370 Total funds brought foNard 96,150 946,611 1,042.761 33.728 937,663 971,391 Total funds rrIed forward 919 183 1,030,406 96,150 946,611 1,042 761 The statement of financlal activitie5 includes all 8ain5 and 1055es recognlsed in the year. All income and expenditure derive from continuing activitie5. The statement of financial activities also complies with the requirements for an Income and expenditure account under the Companies Act 2006. VASCommunityAccouniarKv io
St Matthew's House Llmlted Balance Sheet A5 at 31 Au8USt 2021 Total 2021 Total 2020 Notes Fixed assets T3nglble assets li 1,307,238 1,319,205 Current assets Stock Debtors Cash at bank and In hand 12 iy 1,850 9,2 143,285 1,849 2,944 109,042 Total current os$et$ 154,137 113,835 Credltors.. amounts falling due within one year 183,4611 188,8451 N•t Current a55etS 70,676 24,990 Total a55ets less curr•nt Ilabllltles 1,377,914 1,344,195 Credltors.. amounts fallln8 due after more than one year 15 1347,5081 1301,4341 Total nel assets J 030 406 104Z 761 R•presented by". Funds of the Charlty Unrestricted funds Restritted income funds 111,223 96,ISO 919,183 946,611 1030 406 1042 761 16 17 For the year ending 31 Av8USt 2021 the company wa5 entitled to exemptSon from audlt under sectSon 477 of the Companle5 Act 2006 relating to small companie5. The members have not required the company to obtain an audlt in accordance wlth settion 476 of the Companles Act 2006. The d1Ctor's acknowledge thelr re5ponsibllltles for complyln8 Wlth the Tequirement5 of the Act with respect to accountlng records and for the preparation of accounts, These accounts have been prepared in accordance wlth the provislons appllcable to companles sublect to small companles, re8ime. Approved by the Board of Trustees on and signed on their behalf by: Print Name: fcc L Thto loc Trustee VAS COMMnItyAaunnQy li
St Matthew's House Umhd Nosto theAtts F•tth•yAAvhd•d 31 Aw¥t2O11 AcUn1 polld•s l•) GenerAI St Malthew'5 House Urnlted15 a£harftsblE company In thè Unltg41 Klngdom Ilmltèd by 8U8r8nttÈ. In the event that theihadlyl$wound up, the liabilityin respectof th¢iu•Fantee is limited toEIO pei rnemberof thecharily. The address of the rellstered offke15glven In the tharlty The fIn31 statements have been piep8red In accordance with the St4iemeN of Recornrntnded p¢.. A¢¢o¢Jntthe and fleportlng bv hadtle5 prtpailn8 thelr att¢unts lTr•¢cordan¢È the Flnandal fteportlnB Standardappllcable In the UK and Republli ol Ireland IFR5 1021 (SOnd ell1, the Financial ReportlDE Standard applicable in the Uniied KID8dom Ind Republlc ol Irelbnd IFR51021 ond tthE Charitie5 Act 2011. 51 Matthews House LlmSted meets the dElinltlon of a publlc bènofit UDdBr FRS 102. The IlnJnckl statEment5 Ire prepared Thder the h15torlcbl wst wnventlon. Thelnon(lal SlatErnent5 are presented In 5terllniwhlth Is the funttionalcurrencyof tht charlty ahd are rounded to Ibl Ih¢am Income 15 Teco8nlsed when the charlty has entlemenT io the Iuhds, iny perfomwhce corndWon5 attached to the Itemlsl ollncDme have b9•n m•i Is WObab thBt the InEamewlll bewecelvedand the amount can be measured rellay. Inwmt from sovernment and othersrint5, whether'c•psuI' Brants or're¥enuè' 8r&n Is rBcoKnlsed when the <hwSty entitlement to th• lund$, Jny performènte tODdttlofjs •tt¥thedtvthe6rants have been mei,11 li Pb¥t1he wlll bE retefvEd the 4mDuntcaTh bE Cash donatlon$ Ire ieiv8D15ed on recdpt. Other donatlons ar• rKognlsd oni• th• charlly hès been n¢tlfW ol the donatbn, pertorman<e condlllons regulre dqf•riHI ¢f th• •mount. Income tax recoverable In relatlontc donotlon5 recelved under Glft Ald Drde¢ds ol Donated profe55ioDal 5erylces and dorTrale& faclllties ire rtco6nlied a$ Income when the char¥ h•$ ¢onirol ovei Ihe ern, 3ny condlt10Th5 assodaigd wlth th• donaiid Item ha¥• b•n mt, th re¢lpt of etonomic benelll from the use by the <harW of the Item Is wobable ind th•t Qeonomk benefll be meJ5ured rellJbW. Inaccordance wlth the CharltiesSORP (FAS 1021, 8¢nef•lvolunittr tlme Is not re¢¢8nhed. On recelpt, domled professlonil 5ervlc•5 and donated laclllll•s IN ri<owls•d on rh• b•sls of the value DI the iltt to the Ih•rlly whlch 15 the mount the ¢h•rftywould htsve béen wllllr4to piytv obtilThs•nAce$or fa¢lllll¢¥ Df oqulvalenrewnomlt bontfft on the open mèrket.. Idl ERpendurq Irrecover•ble VAT Expendture 15 reco8nlsed onc• th•r• 1$ 41•8al •r¢onsiru¢iiv• oblllltlon to m•k * pwnt to a thlrd partvi 15 probabl• thit s4ttlement wlll b•r•qulrtd otyd thE amount of the oblatbn cafi be meisured iellabty. AN expendhure Is acwunted for on in K¢iu•ls ba$15, IntdIn¢ lrrecoww• VAT, h15 been11sted under hEidln8S that a811re8&te all tht sis rtlatEd to thal 4Ctlvity. Dlrect costs, IrKludlni dlrectly altrlbulJble 5albdes, ar• allocated on an actual ba5 10 the key stritrflt Jreis of icllvlty, thÈrheads Ind othqr sal¥fle¥ ore allocated between txpehse headlhls W the ba51$ ol the tlme spent. fjoveFnan¢¢ (lSre tho$eln ¢onn•dion thIbe mDllJBementcf thE charlty, orzanlutlon•l 4dmlnlstr•tloTh•nd<oMplnCe wlth th Whtre t051scannot be dlrectlyattrlbutedthe¥have been •lloutd tO•Cifvhl a basls conslstent wlththe useolthe re50urceJ. lel flxed •5s•ts TawlblB flxod as$ets ère Inrtlalty rneasured at eost and SubSEquent rneasured at cost orvaluatlon, wold•pr•¢k411onand any Imp•lrrnent Deprpcialk)n15 rocoiTh15od so aStowr•off th• c05t arvaluatlon of 85$ets less Ibr reskIal v8lue5 o¥qr thtiru54ful lfvis¢n thi followl Flxtures, fttUngs & equlwient 20% 5tr¥ht line CDmputots 33.3% 5trai8ht lin Ihe 8aln or h5$ •rlsin8 on the disposal of In asset Is determlned as the dllference between th• sal• prQod5 and the CanI value of the asset, Ind 1$ re¢ogni5ed In net Inwmellexpendlturel for the year. Ilj Dlbtois Trade ènd other debtors are recognwd atthEsettlernent amuunt after any tiade dlscountofferÈd. Prepayments valued the •mount piepald netof anytrade dlscouM5 due. l and c•sh equlvaleThts sh and cash equlvalents iornprise ¢h on harA and tall deposits. Jnd Dther 5hort-terrn hiitrly Ilquld InYe51mefflt5 that are ieadlty conv•rtlbl to a knownmount of ¢¥$h andarÈ $ubjerttoaD Insignificant r15k olch•n8e lThvalw. Ihl Qedh•rs credw and provislons are rectsgned where the tharity present obligatn re5uhin8 from o past event th wlll probab resuh In thE trènsfr of lunds io a thlrd partv and the arnDunt due to settle the obll8ailon can be measur*d OF Èsllmatgd rably. Crgdltor% and prov151on$ are Domially recwnised at theirsettlement amount after alowlw lorAny trade dlstounts due. VA5CommuntyAt(ourt
St Miith•w's Hpuse Llmltsd Ilote$tothe A¢cwrts 1t4iniin¥•dl thEytarqndBd 3IAuiust 2021 c¢•UrrtpO¥tIj Iconthmwdl FlnJnciJl Instruments The chorlty only h% finandal asset5 afsd financlal Ilabllltks of a klnd that 4ualWy Is bask flnanclJl 5n51rurnents. Baslc nnanclal Instrents 4re n131 rerognlSEd * transattion valuè and subsequnUyme8sured 1tthe5rsettrnent Vae. ) P¢Dsknn 0[81t Tht chadty operates a defined cthitrfbutlon pen4¢n scheme. contribut$ pay4bl¢ ro Ihe pen51on xherne are tharled to the St4ternentof FlnaTrdo1 A¢15e% In thepedod towhlch they ielate. Ikl Employtt b•WI5 The¢p5lof any unused holldayentltl@rnent retQ8nbed In the perh)d iTrwhlchthe employee's seM¢esère recelved. Terrnlnètlon bèndlts arè recoinlsed IMmedIate as an •xyns• wh•n thv ¢h•rfty ls dÈmonstrob commltted th termln•t•the employment of •n effjployÈe4r lo provide termlnarion béneflts. As a ¢h4rlty, the orianlsallon h exempt from ts¥ on Incom and 8¥lns falllni wlthln the avallawe tax •xmptlohs to thE extint that thEse are appNedto Ils ch•rit•blè Dbltrt5. No ch4rBes have an5en Irlthe Ihailty. Atni•l paybbk ad reCeae under opernt5on lea$es•fft L4ried lothe SOFA on i str•l8hi Ilng b•$ls overihe peilod of th• It•s•. UDrt5ttl¢iedfund5 lie donatlonsaThdothw Incomé retelvable Qr Rtnoratedfofiht objects ol the Or83511 wlthoutfurthtl specll •SnIted funds •re lunds set it Ih•d13crrtlon ol the trusivs lor a $wlfic praJ4¢1. Rtsldcled funds ir• to be used f¢rspe¢lnc wrposti is l•lddown by the lund•r. The Inancl31 statoment5 h•¥• b••n pr•par•d on a solns tont•rn bish •s the tiust1•5 belleve that no m•1+11 unt•rtalntles exlst. The trwtees ha coThsldered the levtl ol funds held and the expoct•d level ol intome anLI Expendllure lor 12 rnorlths from alhOrI4nI Ihese IlhaKlal $tsiÈment5. The budieled Inc¢me and expendliUte15 5uflldent wlth the level ol reservesfgr the charV t¢ b• abl•to Mffltlnue a5 1 iolni Iroffl y•ntsind doh•tby Unr•rtrtEitd R•rtrfrt•d Fundi Tot•1 Unrestrlcted 2011 Fuds •$irted Fund5 zoio Governm Co¥hY-19 Bu51ne55 Supptsrt Gi8Tht CuoTravlruslob Rèt?ntKTh Scheme Sheffield Cltycoundl 29.0 24,029 15.ri)) 24.029 39,709 19,672 39,709 29,672 67.505 15.or 67,505 15,WO 31.500 TudorTrust ThÉ Arts Covncll 8?rlni Foundatlon Postcode NeiEhtrM)uth•odTNst Sheftlehl Tn Trust Art5touThcll En8larnd.Culture Reco¥ery Fund 31.500 12.(¥X) zo,0 12,fXIO 20,(NJO 2,500 loo,000 IOD,LKK) Donatn5 &707 8,707 17,328 17,328 148 862 18rJ 362
5t M4tthew's Hous Umlt NDte¥t0theA(nts Iconunuedl Fovthq year ended 31 Awu#t 1021 l•¢•me fvom ch•rae •rtMtle Utrw•strlctid Rlrtthtqd Fund5 Totsl Unre51rfctEd 2021 Funds Re5trkted Funds Total 2020 Ptsttw¥ Art Othor 32,114 18,464 1,838 32,114 18.464 1.83B 84,048 87,966 84,048 87,966 52A26 171.014 172,014 Inmfro uth•rtr•dlnK•rtl¥fti Unre5trlrted Rethrt•O Fw Fufith Tot•1 Unre5trlrt•d 2Q21 Fund5 Rettrle Funds Total 2020 Potttry Art C4fé oih 4,367 18,117 59B 4,745 4,367 IB,117 598 4.745 4,379 14.950 31.470 8,924 4,379 14,990 31,470 8,914 Ey•indltur•on ilnrqAct•d R•xirf¢i•d Fundi Fundi TO¢ Unresid£ied 2011 Fund5 T¢tal 2020 Funds Grant proc•sslDg¢osis 5,442 5,442 7,745 7.745 Expen¢lwr¢ w¢h•rtt•bh •rfl¥ltb•i UThMltrl¢tsd A•strkl•d Fnl FvThd5 Tot41 Unr4strlct•d Funds knstrlcred Fundi N•t• 1020 P•Mry& *rt Potiery & Irt matprials Wtll.bEln¥ expenses Arttouncll costs Tutorfees Waoes )Thd salarles Support C05t5 Deweclallon 3,040 t,oio 3,040 1,020 12,260 6,965 39.643 147.940 10,041 6,30 186 186 2,B29 34,648 72,873 111,575 7,713 12,260 2.508 4,870 3,829 4.457 34,773 147,YO 2,252 34.648 63,840 111,S75 9,033 7,790 7,713 191 2 27 a128 220 91¢ 216 558 236 133 VKCommniiykncountBnCy
5t Matthew's H¢5& Umlt•d
Nots t0thEAcUnts
ForthB year ende031 Auxust2021
tr1¢1 •ctlvltle5
Uthrstdrttd Restrltted
Funds
Fun&
Totsl ilnre5trtcted
2021
Fund&
Restdrted
Funds
Totsi
2020
Note
PDtt•ry & art
Pottery & art Mater15
Wpll-belni expense5
Tutor ffeES
WJBe5 ar saLirles
Supptsrt£osts
DÈprKlatlon
739
80
4,207
7,137
31,534
739
4167
27.691
20,626
4.207
7,137
31,534
4.423
48,120
Z7,698
20ffi28
1.925
56A
77
77
56,411
4S.04>
C4
Cafa Èqulpmeht
Wè8Q5 and 5alar4ES
Suppcrt
9.624 19,09B IL054 2361 1&360 2.798 30.134 20.61fj I566 45,915 25,539 9,377 8,263 2,930 15,EB2 3,669 10.512 9,647 3,542 3,111 1.107 56,417 35,186 12,919 11,384 4,037 15.882 147,91Q ai,5 143.109 C+ Wa5 and salatles OlfKe rosts Mls¢Èl¥Deous Loan Interest Bank chargos Governance 1.598 1.467 539 475 168 548 4.795 1.598 1,467 539 475 548 4.795 20,932 168.872 IIL.575 36,329 Charft3ble artI¥itSSUppOrt coststotal £147,940olwhkh £Ill2020.. £Thlll lete5 iore5ts1ct9d funth. TradinE actiwt5 SUPPOrt Wst5 tatal £20.932 olwhich Énil12020'. Enlll relate5torestriCt8d lunds.
5t MatthRw'sHgus• Umlt4d Notsstoth4 Attountslcontlnued FortheyeDreThded 31 Awust 2011 10 Feos p•ble to lTrdtpeTrdentemlTrr'1 aryan11•tn 2021 2020 Ind•pA ntx3fftInathIl• Ilntluded In Governance Costsl 1.050 11 TJrWleffixEd 4jsots loni i••hokl Pv•yrtv FIKtur¢s. IKtlnis •nd •quknqrt Totsl As •t I SÈptembeT 2OZO A5 It Jl AlUSt 2011 1,3SJ.710 1383 710 33 165 1 416 875 33 165 1416 875 As ai i September 2020 CharÉe thls perlod A$4t JI Asjiust 2021 66,418 31,252 J97 97,610 11,967 N•tBook V•lue It 91 Auiu# 1021 I Olfj I Y07 231 AS It JI Au8ust 2020 1913 1319 205 12 Stotk 1021 1020 S¢orks h•ld ai th• y•orend 1,850 1,849 IJ D•btoii 2011 2020 Tr¥d debtors Prepayments ind iccruid Iniorne 744 2,200 4,462 14 Q•dllOfSi •mo¥msi4llJwdu• wlthlnoneyq*r 2021 zo Trade credhor5 5undrycredltors&deposllS PAYE Attrua15 Prepald tradlni Income St MatthAws PCC Pens VAT ,579 6,058 475 4,027 24,903 10,899 306 9,365 18,449 3,661 3,215 3,191 32,196 10,899 4(4) 13,383 21,832 Loan5 VA%CLyThnun5iwknntiTr¢¥
St MattIvIS Hollsè UMlt4d Notes totheAc£aunt$lu)nlnuodl Forthy•Ar•ndèdglAuol¥t20ZI 15 Crthors'. arnovts f411knidu••ft•r mty¥eth•Th On•11 2021 2020 8ank Loanj Other Ltsan 205.008 142,500 166,434 135,ro> 301 FSDanclal knStru¢tS n5 are repaYae asfollow¥'. Wiihin one year 8#tween onÈ to two81% Btrtween two 1¢ fiYeyear5 (knr Il¥eyeais 18,449 24.894 96,546 226,068 21,832 22,802 71,666 206,966 Flnan¢lal Instrum¢ni$ me¥surtd ot amort15ed c051 comprls4 of a £165,95712020.. E173,1651 bank loan 6Kwided by Ch4ffty Bank whlth has 6.5% Iterest rJte, a Bounce Back Lo•h of E50,CW 12020.. £NIII whlch had • Interest rate of 2.5% and an other loan ¢f £150,000 12020.. £150,000) from 5tVl¢etyt Hou6Èwhlch h•d a 0% Interest rate. 16 R••trfd•d fvndi routht forwird C•vvb•d Tr•¥wlws lorw4id Inwm• EKyThdltuv• Arts Councll Grant R¢#rfct•d Flxed Fund Property R•5•ry•'. 19.638 926.973 17,7901 919,183 919 181 ArtsCourdcII GIt Thè luhd iepres•Thts nn•ncln8 liom The Art5 Coun£ll ta support th¢ dw•lopmtnt of onlln• claM•i, dt6lt&l eont•nL an onllne wellbelni portBI, prowslon olcore pacW15 and assodat@d stsff tosts. Pr•p•rty 1•s•rv•: The prcperty reser¥e ren•dsth• M¢book v•lue of lsehol1 propèrtyflrnJntd frt¥ Mstdct•d fund5. Prlwyeorcofftporotlv¢ Brcughl Carrted Tm5Jer5 Jonvar In¢<¥ne ExpeAdlture Arts HtstrkitdAxedAssttPuod PropertyResen Flxitsrts& Finlngs 31,5 111,862) 1*,658 934,763 17.750) 92A973 937663 3J5w 94661J VA5CanmUnltyAtVntra
St Matthew's House Limited Notes to the Accounts (continued) For the year ended 31 August 2021
17 Net assets by fund
| Net assets by fund | |||
|---|---|---|---|
| Tangible fixed assets Net current assets Creditors of more than one year Prior year comparative Tangible fixed assets Net current assets Creditors of more than one year |
General Fund £ 388,055 70,676 (347,508) |
Restricted Funds £ 919,183 - |
Total 2021 £ 1,307,238 70,676 (347,508) |
| 111,223 | 919,183 | 1,030,406 | |
| General Fund £ 392,232 5,352 (301,434) |
Restricted Funds £ 926,973 19,638 - |
Total 2020 £ 1,319,205 24,990 (301,434) |
|
| 96,150 | 946,611 | 1,042,761 |
18 Trustee remuneration and expenses, and the cost of key management personnel
The trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil) neither were they reimbursed expenses during the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
The key management of the charity comprised the 8 Trustees as at the year end 31 August 2021 (2020: 8). The total employee benefits of the key management personnel of the charity were £nil (2020: £nil)
19 Related party transactions
No other transactions have taken place with related parties during the year, other than those included in note 18.
VAS Community Accountancy
18