Registered Charity Number: 1150722 Company number: 08307595 Friends of Bishops. House Annual Report and Unaudited Financial Statements For the year ended 31 March 2024
Friends of Bishops, House Contents Page Legal and administrative information Trustees, annual report Independent Examinerfs report Statement of financial activities Balance sheet Notes to the accounts 8-12
Friends of Bishops, House Legal and administrative information For the year ended 31 March 2024 Trustees Nicholas Roscoe Tanya Smith Jenni Sayer Barbara Jenkins Kenneth Dash Tabitha Gillard Christine Griffiths Eileen Littlewood Elizabeth Ralph Andrew Shepherd David Bostwick Chair Treasurer Secretary Resigned 21 September 2023 Resigned 24 January 2024 Resigned 21 September 2023 Company secretary Jennifer Sayer 2023 Resigned as company secretary on 21 September Charity number 1150722 Company number 08307595 Registered address 3 Brook Road Sheffield South Yorkshire 58 9FH Accountants Seven Hills Accountants Limited 57 Burton Street Sheffield 56 2HH
Friends of Bishops, House Trustees. annual report For the year ended 31 March 2024 The trustees are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 31 March 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the charities Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 1021 issued in October 2019. Structure, governance and management Friends of Bishops, House (Company number 08307595) was incorporated on 26 November 2012 and its Memorandum and Articles of Association govern it. Its legal status is that of a company limited by guarantee. It has no share capital and the liability of each member in the event of winding-up is £1. It became a registered charity on 26 November 2012 (Charity number 11507221. Volunteers are offered the opportunity to join the management committee routinely and where necessary the committee will identify skill gaps within the committee and individuals will be approached. Charitable objectives and principal activity 11 The preservation, restoration, maintenance, repair and improvement of Bishops, House situated in the City of Sheffield, a Grade Il* listed building and- 21 To advance the education of the public in the preservation and history of Bishops, House. Summary of the main achievements This period's main success was an unexpected boost in volunteer numbers. By late 2023, volunteer numbers had reduced to a point where we were facing session closures on an almost weekly basis. We posted on social media about our issues which was then shared many times around local community groups and was picked up by the Sheffield Star and Radio Sheffield. This resulted in over 100 enquiries from members of the public to offer their help, which has resulted in around 25 regular volunteers and no further closures due to volunteer shortage. This also relieved pressure on the trustees to volunteer over weekend sessions. Our second main success of this period was the relaunch of our free History Talks. This began with David Templeman talking about Mary Queen of Scots, which proved very popular with all tickets reserved. School visits also flourished in this period, with new volunteers helping and nine school visits during the period.
Friends of Bishops, House Trustees. annual report For the year ended 31 March 2024 We had 4088 visitors between April 2023 and March 2024, which is a significant increase from the previous year and the third year in a row where we have had an increase in visitor numbers. However, this number does not include gigs, schools or weddings which would result in a higher number. The house hosted 45 music nights, which is the most we have ever done. We also held 8 weddings for the second year in a row. It was decided to reduce the number of weddings to four for the following year to give the wedding coordinator and volunteers a break. Plans for the future Our plans forthe future are: Complete the displays project by producingthe remaining planned display boards and creating a timeline d isplay. Develop volunteer opportunities beyond weekend volunteering sessions Fundraising for the restoration of the Gill Tapestries Improve visitor experience through digital technologies Financial Review and Reserves policy Total income was £39,031 (2023-. £14,497) and details can be found in the financial statements. Expenditure (excluding tax) was £20,17712023: £9,642) and the result for the year was a net income before tax of £18,85412023- net income of £4,855). Aftertaking into account the tax expense this has increased total funds at 31 March 2024 to £39.981 {2023: £22.359) The charity requires £6,000 of free reserves to cover any unforeseen expenditure and to assist with cashflow. Free reserves at 31 March 2024 were £21.11312022: £12.3591 with an additional £5,(K)O held in designated funds (see note 6112022: £5.(XK)) and £8,868 held in a restricted fund. Trustees, responsibilities in relation to the financial statements The charity trustees (who are also the directors of the charity for the purposes of company law} are responsible for preparing a Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Friends of Bishops, House Trustees. annual report For the year ended 31 March 2024 Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparingthe financial statements, the trustees are required to- Select suitable accounting policies and then apply them consistently," Observe the methods and principles in the Charities SORP; Make judgements and estimates that are reasonable and prudent; State whether applicable UK accounting standards 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 charity will continue in business. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud a nd other irregularities. The trustees are responsible forthe maintenance and integrity of the charity and financial information included on the charit¢s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Small company provisions: This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. The trustees declare that they have approved the trustees, report above on 16th December 2024 and signed on behalf of the trustees by: Name: Position: Nicholas Roscoe Chair
Independent examinerfs report to the directors of Friends of Bishops, House ('the Company,) I report to the directors on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the directors of the Company you are responsible forthe preparation of the accounts in accordance with the requirements of the Companies Act 2(N)6 {'the 2006 ACYI. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5} (b} of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to organisations preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I confirm that there are no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Susan Cochrane, FCA DChA Seven Hills Accountants Limited 57 Burton Street Sheffield 56 2HH Date: 1811212024
Friends of Bishops, House Statement of financial artivities (incorporating the income and expenditure account) For the year ending 31 March 2024 Unrestiirted funds Restricted funds 2024 Total fund5 2023 Unrestricted funds Note Income from: Grant and contract income Donations Events School Visits Shop takings Weddings Tour income Room hire 5.000 2,048 17,448 167 1.681 3.519 150 150 8.868 13,868 2,048 17,448 167 1,681 3,519 150 150 2,217 6,081 444 1,254 4,248 153 loo 30,163 8,868 39,031 14,497 Expenditure on: Equipment and props Events and wedding costs Shop Stock Trustee and volunteer expenses Accountancy Independent Examination fee Insurance Office expenses Bank charges 519 15.534 1.256 700 216 570 360 950 72 519 15,534 1,256 700 216 570 360 950 72 863 6,267 1,068 221 450 701 72 20,177 20,177 9,642 Net incomel (expenditure) before tax 9,986 8.868 18,854 4,855 Tax payable 1.232 1,232 Net incomel (expenditure) after tax 8,754 8,868 17,622 4,855 Reconciliation of funds: Total funds brought forward 22,359 22,359 17,504 Total funds carried fonvard 31,113 8,868 39,981 22,359
Friends of Bishops, House Balance Sheet A5 at 31 March 2024 2024 2023 Note Fixed Assets Tangible Assets 5,000 5,000 Current Assets Stock Debtors Cash at bank and in hand 1,079 2,509 37,015 1,079 19,318 Total current assets 40,603 20,397 Creditors= amounts falling due within one year 15,6221 13,0381 Net current assets 34,981 17,359 Total assets less current liabilities 39,981 22,359 Creditors: amounts falling due after one year Total net assets 39.981 22,359 Represented By FUNDS General funds Designated Funds 26,113 5,000 31,113 8,868 39,981 17,359 5,000 22,359 Resticted funds io 22,359 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with section 476 of the Companies Act 2006. The director's acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to small companie5, regime. Approved by the Board ofTrustees on 16th December 2024 and signed on their behalf by= Nicholas Roscoe Trustee
Friends of Bishops, House Notes to the financial ststements For the year ending 31 March 2024 Accounting Policies la) General Friends of Bishop's House is a charitable company in the United Kingdom limited by guarantee. In the event that the charity is wound up the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the company information on page l of these financial statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2015} - (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The financial statements have also taken adoption of Charities SORP IFRS 1021 Bulletin l and taken advantage of the exemption of to prepare a cashflow statement. The charity meet5 the definition of a public benefit entity under FRS 102. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £1. Ib} Income Income is recognised when the charity ha5 entitlement to the funds, any performance condition5 attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliably. Donations are recognised on a receivable basis. Event income is recognised in the period in which the event took place. Ic) Expenditure and irrecoverable VAT Expenditure 15 recognised once there is a legal or constructive obligation to make a payrnent to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Id} Fixed assets All items of capital expenditure below £500 are written off as incurred. Depreciation has been calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets over their expected useful lives on a straight line basis. Furniture Heritage assets 5 years No depreaciation as considered to not lose value over time. le) Cash and cash equivalents Cash and cash equivalent5 comprise cash on hand and call deposits, othe short -term highly liquid investments that are readily convertible to a known amount of cash and are subject to insignificant risk of change in value. lfj Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recogni5ed initially at the transaction price. They are subsequently measured at amort15ed cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 15 established when there is objective evidence that the company will not be able to collect all amounts due according to the original term5 of receivables.
Friends of Bishops, House Notes to the financial statements - continued For the year ending 31 March 2024 lfj Stock Stocks are valued at the lower of cost and net reali5able value after making due allowance for obsolete and slow moving stocks. Igl Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. (h} Funds Unrestricted funds are donations and other income receivable or generated for the objects of the organisation without further specified purpose and are available as general funds. Restricted funds are to be used for specific purposes as laid down by the funder. Designated funds are set aside by the charity's trustees for a specific purpose. li) Taxation As a charity, the organisation is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. li) Going concem The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Grant and contract income Unrestrirted funds Restricted funds Total 2024 Total 2023 SCC- annual allowance SCC- Community Infrastucture Levy SCC- Contribution towards repairs 5,000 5,000 868 8,000 868 8,000 5,000 8,868 13,868 Trustees, expenses and remuneration The trustees were not paid or received any other benefits from employment with the charity in the year12023.. £nill. No trustees were reimbursed any out of pocket expenses during the year12023= £451. No charity trustee received payment for professional or other services supplied to the charity12023.. £nill.
Friends of Bishops, House Notes to the financial statements - continued For the year ending 31 March 2024 Fees paid to the independent examiner's organi5ation 2024 2023 Independent examination fee 570 Tangible fixed assets Heritage asset Furniture Total C05t As at l April 2023 Additions As at 31 March 2024 5.000 1,060 6,060 5,000 1,060 6,060 Depreciation As at l April 2023 Charge this period As at 31 March 2024 1,060 1,060 1,060 1,060 Net Book Value As at 31 March 2024 5,000 5,000 As at l April 2023 5,000 5,000 Heritage asset During the year ended 31 March 2021 the original Captsin William Blythe chimneypiece that had been removed from the house prior to 1878 was located, purchased for £5.000 and reinstated at Bishop's House. Debtors 2024 2023 Trade debtors 2,509 2,509 Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals Income received in advance Corporation tax 81 805 2,152 1,481 2,909 1,232 5,622 3,038 io
Friends of Bishops, House Notes to the financial statements - continued For the year ending 31 March 2024 Designated funds Brought forward Carried forward Income Expenditure Transfers Gill Tapestries restoration fund 5.000 5,000 5,000 Gill Tapestries restoration fund £5,000 had been transferred from general funds to contribute towards the restoration of the Gill Tapestries. Other funds will be raised via grant making bodies and individual donations. Designated funds (continued) PriTor yeor Brought fotword Carried forword Income Expenditure Tmnsftrs Gill Tapestries restorationfund 5.000 Restricted funds Brought forward Carried forward Income Expenditure Transfers CIL fund - Display Boards House Repairs 868 8,000 868 8,000 8,868 8,868 There were no restricted funds in the prior year CIL fund - Display Board5 Funding received from Sheffield City Council to contribute toward5 display board materials. House Repairs Funding received from Sheffield City Council to contribute towards house repairs. li
Friends of Bishops, House Notes to the financial statements - continued For the year ending 31 March 2024 10 Net assets by fund General nds Designated funds Restricted funds Total 2024 Tangible assets Net current assets 5.000 21,113 26,113 5,000 34,981 39,981 5,000 5,000 8,868 8,868 Prior year Geneml fvnds Designoted fvnds Restricted Aunds Total 2023 Tangible assets Net current 05setS 12.359 17,359 17,359 22,359 5.000 11 Related party transactions There were no other related party transactions. other than the trustee's expenses noted in note 2. 12