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2022-07-31-accounts

Cads South Yorkshire Limited 2022 Unaudited Financial Statements

FOR THE YEAR ENDED 31 JULY 2022

CHARITY REGISTRATION NUMBER 1151884 COMPANY REGISTRATION NUMBER 08117742

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

S Rimmer S Brown D Butlin K Antcliffe (Appointed Oct 2021)

Charity number 1151884 Company number 08117742 Registered office 387 Abbeydale Road Sheffield South Yorkshire S7 1FS Independent examiner A Hulse BA FCA UHY Hacker Young 6 Broadfield Court Sheffield S8 0XF

Bankers

HSBC Carmel House 49-63 Fargate Sheffield S1 2HD

Trustees' Report (Including Directors' Report)

FOR THE YEAR ENDED 31 JULY 2022

The trustees present their annual report and financial statements for the year ended 31 July 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)".

Objectives and activities

The objectives of the charity are:

Achievements and performance

Over many years, CADS has delivered a variety of programmes to support emerging artists and to support people to engage with Arts & Culture. We achieve this both in a formal sense (through funded projects and collaborations with other charities and social enterprises) and also in an informal sense – by consciously assisting, promoting and advising independent arts and culture protagonists as well as supporting local and independent supply chains, thereby creating jobs in the sector.

However, CADS is best understood as a key facilitator and enabler of Sheffield’s independent Arts & Culture sector, a role it achieves through multiple workstreams, namely:

Letting Affordable Studio and Project Spaces to Artists and Creatives

Letting out space at Abbeydale Picture House for Events

Hosting our own Arts & Culture events at Abbeydale Picture House

Developing the Abbeydale Picture House towards the end goal of it becoming a nationally recognised community arts venue.

The trustees of CADS South Yorkshire Ltd are confident that the activities of the organisation meet the public benefit guidance of the Charity Commission.

Studios

The charity’s property portfolio comprises of a large studio hub (Eagle Works) in Attercliffe, 4 ex-retail units on Exchange Street and The Abbeydale Picture House. In December 2021, a 20-year lease was completed to acquire a new studio hub called ‘Arley Street’; circa 20,000 sq ft of ex-office space and 10,000 sq ft of warehouse space to be repurposed into creative and commercial units. The leases for Exchange st were also successfully extended for a further 2 years.

CADS continues its ethos to provide affordable studios across Sheffield and support creatives no matter their background or financial status. Over the past year, with the acquisition of Arley Street, CADS has supported over 50 people and small organisations to continue, start or reimagine their project or business from their studios. Furthermore, at Arley Street, negotiations are progressing with a well-known Sheffield creative arts charity to rent 4,000 sq ft of space which would be a great addition to Arley St, enhancing the building’s offerings, job opportunities and extending the cultural outreach.

Our self-funded SpaceCADet programme, which gives 6 weeks of free or heavily subsidised space for projects or start-ups has been awarded to two projects this year for music & photography, and a maker space. CADS also regularly extends this programme to ad-hoc hires of the Abbeydale Picturehouse, with artists and photographers using the space for heavily subsidised rates.

With the portfolio expansion and the studio activities increasing in capacity, CADS was able to offer two new job roles as part of the Kickstart Job Programme in October 2021. Thanks to the funding support from the government scheme, CADS has been able to invest more time in training and development, which resulted in a Kickstart employee being offered a permanent position at CADS following the end of the funded programme.

Restoration

A key focus in CADS’ restoration objective remains on the Abbeydale Picture House and opening as a fully licensed venue.

At the start of the year CADS was informed that the safety checks conducted on the suspended ceiling at The Abbeydale Picture House were insufficient; previously, regular inspections had been commissioned by a structural engineer. An additional survey condition report must be conducted by a specialist in historic plaster, in order to gain an ABTT certification. Three small grants from local trusts were awarded to CADS to cover the costs of an inspection of the ceiling that was conducted in December 2021. Many thanks to; Freshgate Trust Foundation, Sheffield Town Trust, and JG Graves Charitable Trust.

The report found serious damage that was not identified in previous reports and evidence of water ingress from the roof that was causing further and ongoing damage to the ceiling. From the findings in the report, the decision was made to close the main auditorium of the Abbeydale Picture House with immediate effect, owing to danger to life from the potential collapse of the ceiling.

Furthermore, the report detailed various remedial work needed to make the ceiling safe, however, these actions could not be conducted until the roof was made watertight. This led to a dispute with the landlord who, until then, had accepted responsibility for fixing the roof. CADS sought legal consultation and were advised that the landlord was in breach of contract and therefore, the rent was not payable until the roof was repaired and the building could be reopened. Unfortunately, in May 2022, this led the landlord forfeiting the lease and evicting CADS from the building by changing the locks. With legal representation, CADS disputed the eviction and eventually overturned the action by reaching a settlement with the landlord in June and reinstating the original lease through the Courts.

Since this tumultuous time, the focus has been in earnest to purchase the building; a project started in 2021. Ownership of the building would remove the complications and uncertainty of dealing with the current landlord, enabling us to make the repairs needed to the roof and ceiling by accessing the more substantial pots of funding that are not available while the building has a private owner. CADS will pursue the Community Ownership Fund (COF) and enter a submission in the second round of the scheme (deadline August 2022), utilising and updating the work already completed in 2021 to become ‘investment ready’ for purchase, thanks to the Reach Fund grant (awarded in 2021).

Events

The 5 year plan for The Abbeydale Picture House (APH), alongside the restoration, was to re-energise the space into a multifunctional community arts venue. Unfortunately, due to significant challenges the project has been put at risk entirely. After the ceiling report, discussed in the Restoration section, every event was cancelled immediately as it was no longer safe to run events in the auditorium. However, with this closure, an opportunity was presented to develop the existing Fly Tower space into its own standalone venue.

Utilising the findings, content and recommendations from last years’ Fly Tower feasibility project (CADS received a grant from The Architectural Heritage Fund (AHF), Culture Recovery Fund strand, to do development works to find alternative means of generating revenue from the building), the Trustees agreed that it was worthwhile to focus efforts on the Fly Tower and transform it into a venue in its own right. This would allow an opportunity to generate income to ensure financial viability of the building, and also continue CADS’ work supporting arts, culture and heritage at APH. The space was equipped with a stage, PA system, bar, and lighting at minimal cost; the equipment was repurposed from the Auditorium.

There was expenditure on acoustic treatment, which improved the audio response drastically, and improved facilities, attracting more event bookings and enhanced the audience experience.

After the decision to close the Auditorium, some of the programming was salvaged and moved into the Fly Tower, namely the Yorkshire Silent Film Festival, Reel Steel, and some live music events. New relationships were formed with promoters and artists that CADS previously had not worked with, and new community links were established; this includes Heretics Folk Club, Sci-Fi Sundays, the Black Artists Collective, and numerous other community groups. Although new relationships were growing, the venue still struggled due to the capacity restrictions imposed by South Yorkshire Fire & Rescue (SYFR) and Environmental Health. With advice and consultancy from Music Venues Trust (MVT), a strategy was developed to increase capacity from 60 to 100 people; this was rejected by SYFR.

Despite the challenges there were some highlights including:

The feedback from the public was very positive; many people expressed their amazement at the venue, and wished to see it succeed.

Financial Review

During the year, the charity received just £194,626 (2021: £350,926) of income. This is significantly less than the previous year because of the restrictions on the use of the Abbeydale Picture House for the reasons set out earlier in this report. CADS expended £289,202 (2021: £288,589) showing a deficit of £94,576 (2021: surplus £62,337). At 31 July 2022, the charity had restricted reserves of £6,788 (2021: £23,168) and unrestricted reserves of £67,537 (2021: £145,733). The total reserves at 31 July 2022 were £74,325 (2021: £168,901).

It is the policy of CADS South Yorkshire Limited to aim to hold in reserves the equivalent of three months general running costs to include salary costs. This policy will be reviewed every twelve months.

CADS charitable activities are primarily self-funded with most of the businesses revenue earned through studio rental and space hire. This gives CADS a great freedom to operate outside the bounds of grant funding and leaves it selfsufficient.

Our SpaceCADet program is entirely self-funded, as well as, our space hire subsidies for our event space.

For our efforts at The Abbeydale Picture House, CADS received grants specifically for professional services and capital works, such as the suspending plaster ceiling report.

All grants and grant spending are monitored and reviewed monthly by the Finance Manager. Restricted grant spending is closely monitored and the required reports submitted to the funders.

The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Risk Management

The trustees have a risk management strategy which comprises:

An annual review of the risks that the charity may face;

CADS Future Plans

The economic turmoil of the Covid era has in our eyes exacerbated four key underlying socio-economic trends:

These trends have some profound implications for commercial property. City centre office blocks and shops lie empty, whilst characterful urban and suburban warehouses, factories are in high demand from local craft producers, and the creative and digital industries.

CADS is at the forefront of the movement to respond to structural changes through repurposing and repositioning buildings and has a constant supply of enquiries from key strategic partners in the Universities, Local Authority and amongst private landlords. Thanks to the clear strategy and success in the studios portfolio, the management team has the knowledge and experience to assess the opportunities in terms of new properties CADS is offered.

In this financial year, CADS has increased its studio footprint by 100%. At the time of writing, Arley Street is now financially stable, with strategies formed to ensure sustainability through the economic crisis at the other sites. CADS is considering new opportunities as they arise and are particularly keen to look at properties in the vicinity of APH. This area has a number of interesting buildings that are currently unoccupied and we are aware of a lot of latent demand from Arts & Culture organisations for mid-sized rehearsal, training and performance space, which APH itself cannot fulfil.

As discussed above, the ceiling issues have had a major impact on the progression of the Abbeydale Picture House to becoming a multi-functional, community, arts venue, however, the goal to purchase the building, to gain full custodianship of this incredible Grade II listed building, is gaining momentum with a submission to the COF fund in August 2022. CADS will continue to pursue different options to purchase, through available funding sources, social investors and commercial mortgages.

Structure, governance and management

The charitable company is a company limited by guarantee under the provision of the Companies Act 2006. The charitable company is governed by its Memorandum and Articles of Association incorporated on 25 June 2012, as amended by a special resolution registered at Companies House on 27 March 2013, as amended by special resolutions dated 22 January 2018.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

S Rimmer N Mosey S Brown D Butlin K Antcliffe (Appointed 1 October 2021)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The charity is run by a board of 4 trustees working closely with the management team both on strategic and operational procedures. The trustees meet via Zoom or in-person on a quarterly basis but are in regular phone and email contact at other times. Trustee Stephen Rimmer works very closely with the CADS management team. Daniel Butlin joined the Board of Trustees in May 2021 and is also a member of staff; managing projects and fundraising.

Trustee Induction and Training

New board members undergo an orientation to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles, the board and decision making processes, the business plan and recent financial performance of the charity. During the induction process they meet other trustees.

The trustees' report was approved by the Board of Trustees.

D Butlin Trustee

Dated: 25 April 2023

6 Broadfield Court Broadfield Way Sheffield S8 0XF

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CADS SOUTH YORKSHIRE LIMITED

I report to the trustees on my examination of the financial statements of CADS South Yorkshire Limited (the charitable company) for the year ended 31 July 2022.

Responsibilities and basis of report

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's 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 that in any material respect:

I have no concerns and have come across 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 financial statements to be reached.

A Hulse BA FCA UHY Hacker Young

Chartered Accountants

Dated: 26 February 2023

CADS SOUTH YORKSHIRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2022

Unrestricted Restricted Restricted Total Unrestricted Restricted Restricted Total
funds funds 2022 funds funds 2021
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 10,171 17,899 28,070 121,876 46,659 168,535
Charitable activities 4 157,975 - 157,975 136,107 - 136,107
Other trading activities 5 8,545 - 8,545 46,271 - 46,271
Investments 6 36 - 36 13 - 13
Total income 176,727 17,899 194,626 304,267 46,659 350,926
Expenditure on:
Raising funds 7 2,115 - 2,115 21,156 - 21,156
Charitable activities 8 250,764 36,323 287,087 239,427 28,006 267,433
Total resources
expended 252,879 36,323 289,202 260,583 28,006 288,589
Net
(outgoing)/incoming
resources before (76,152) (18,424) (94,576) 43,684 18,653 62,337
transfers
Gross transfers
between funds (2,044) 2,044 - (4,515) 4,515 -
Net (expenditure)/income
for the year/
Net movement in funds (78,196) (16,380) (94,576) 39,169 23,168 62,337
Fund balances at 1
August 2021 145,733 23,168 168,901 106,564 - 106,564
Fund balances at 31
July 2022 67,537 6,788 74,325 145,733 23,168 168,901

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

CADS SOUTH YORKSHIRE LIMITED

BALANCE SHEET

AS AT 31 JULY 2022

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
Income funds
Restricted funds
18
Unrestricted funds		 2022
£
17,191
136,174
153,365
(49,008)		 £
62,665
104,357
167,022
(92,697)
74,325
6,788
67,537
74,325		 2021
£
33,074
173,800
206,874
(64,696)		 £
69,223
142,178
211,401
(42,500)
168,901
23,168
145,733
168,901

CADS SOUTH YORKSHIRE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2022

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2022.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 26 February 2023

D Butlin

Trustee

Company registration number 08117742

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

Charity information

CADS South Yorkshire Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 387 Abbeydale Road, Sheffield, South Yorkshire, S7 1FS.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Resources expenses are recognised in the year in which they are incurred, inclusive of irrecoverable VAT.

Charitable expenditure comprises costs incurred by the charity in the delivery of its activities and includes costs that can be allocated directly to such activities and costs of an indirect nature to support them.

Governance costs are those costs incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over the remaining period of the lease Fixtures and fittings Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Fixed assets costing less than £500 are not capitalised.

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

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

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

(Continued)

1.9 Financial instruments

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

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

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

Basic financial assets

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

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

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

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

1 Accounting policies

(Continued)

Basic financial liabilities

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

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

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

Derecognition of financial liabilities

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

1.10 Employee benefits

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

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

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

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

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

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

3 Donations and legacies

Unrestricted Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Donations and gifts 4,384 7,000 11,384 111,319 46,659 157,978
Grants receivable for
core activities 5,787 10,899 16,686 10,557 - 10,557
10,171 17,899 28,070 121,876 46,659 168,535
Grants receivable for
core activities
Coronavirus Job
Retention Scheme - - - 10,557 - 10,557
Bounce back loan
interest 1,250 - 1,250 - - -
Kickstarter - 10,899 10,899 - - -
Other 4,537 - 4,537 - - -
5,787 10,899 16,686 10,557 - 10,557

4 Charitable activities

Sales within charitable activities

2022 2021
£ £
157,975 136,107

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

5 Other trading activities

6
7		 Unrestricte
d
Unrestricted
funds
funds
2022
2021
£
£
Trading activity income: other
8,545
46,271
Investments
2022
2021
£
£
Interest receivable
36
13
Raising funds
2022
funds
£
£
Trading costs
Other trading activities
2,115
21,156
2,115
21,156		 Unrestricte
d
Unrestricted
funds
funds
2022
2021
£
£
Trading activity income: other
8,545
46,271
Investments
2022
2021
£
£
Interest receivable
36
13
Raising funds
2022
funds
£
£
Trading costs
Other trading activities
2,115
21,156
2,115
21,156
21,156

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

8 Charitable activities

2022 2021
£ £
Staff costs 83,007 63,230
Depreciation and impairment 6,558 4,551
Community activities 18,132 28,518
Rent 60,933 66,483
Utilities 15,445 17,508
Office expenses 10,920 8,253
IT costs 1,467 1,730
Membership fees 198 600
Subscriptions 682 601
Insurance 23,275 26,261
Bank charges and interest 3,798 530
Advertising and public relations 1,926 533
Repairs and maintenance 12,117 16,826
Legal and professional fees 40,356 27,412
General expenses 1,222 1,936
Bad debts 4,627 181
284,663 265,153
Share of governance costs (see note 9) 2,424 2,280
287,087 267,433
Analysis by fund
Unrestricted funds 250,764 239,427
Restricted funds 36,323 28,006
287,087 267,433

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

9 Support costs

Support costs
Support Governance 2022 Support Governance 2021
costs costs costs costs
£ £ £ £ £ £
Independent
examination fees - 2,424 2,424 - 2,280 2,280
- 2,424 2,424 - 2,280 2,280
Analysed between
Charitable activities - 2,424 2,424 - 2,280 2,280

Governance costs includes payments to the independent examiner of £900 (2021: £900) for independent examination fees and £1,524 (2021: £1,380) for other services.

10 Trustees

C. Rimmer (trustees' sister) received remuneration of £20,858 (2021: £10,573) and had pension contributions made of £626 (2021: £317) under her contract of employment with the charitable company.

D. Butlin received remuneration of £18,225 (2021: £15,600) and had pension contributions made of £547 (2021: £468) under his contract of employment with the charitable company.

K. Antcliffe received remuneration of £4,001 (2021: £nil) and had pension contributions made of £120 (2021: £nil) under his contract of employment with the charitable company.

None of the other trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

11 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Trustees 4 3
Employees 4 4
Total 8 7

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

11 Employees (Continued)
Employment costs 2022 2021
£ £
Wages and salaries 76,998 59,852
Social security costs 4,053 1,432
Other pension costs 1,956 1,946
83,007 63,230

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

In view of the charitable objects of the company and of its registered charitable status, no taxation should be payable.

13 Tangible fixed assets

Tangible fixed assets
Leasehold Fixtures and Total
improvements fittings
£ £ £
Cost
At 1 August 2021 60,136 17,786 77,922
At 31 July 2022 60,136 17,786 77,922
Depreciation and impairment
At 1 August 2021 4,595 4,104 8,699
Depreciation charged in the year 2,728 3,830 6,558
At 31 July 2022 7,323 7,934 15,257
Carrying amount
At 31 July 2022 52,813 9,852 62,665
At 31 July 2021 55,541 13,682 69,223

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2022

14 Debtors
2022 2021
Amounts falling due within one year: £ £
Trade debtors 7,045 16,766
Amounts owed by subsidiary undertakings 9,374 -
Other debtors - 16,308
Prepayments and accrued income 772 -
17,191 33,074
15 Loans and overdrafts
2022 2021
£ £
Bank loans 114,765 50,000
Payable within one year 22,068 7,500
Payable after one year 92,697 42,500
16 Creditors: amounts falling due within one year
2022 2021
Notes £ £
Bank loans 15 22,068 7,500
Trade creditors 8,554 18,741
Other creditors 15,613 26,235
Accruals and deferred income 2,773 12,220
49,008 64,696
17 Creditors: amounts falling due after more than one year
2022 2021
Notes £ £
Bank loans 15 92,697 42,500

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds
Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
resources expended 1 August 2021 resources expended 31 July 2022
£ £ £ £ £ £ £ £
Abbeydale Picture House Capital Works 7,404 (5,736) 8,445 10,113 - - (3,325) 6,788
AHF Fly Tower Project 19,040 (14,140) - 4,900 - (4,860) (40) -
Project - APH Licence Works - Professional Fees 7,500 (3,570) (3,930) - - - - -
SME Barnsley fund (covid recovery business support
grant) 2,400 (2,400) - - - - - -
Reach fund 10,315 (2,160) - 8,155 - (9,984) 1,829 -
APH Ceiling - - - - 7,000 (9,225) 2,225 -
Kickstarter - - - - 10,899 (12,254) 1,355 -
46,659 (28,006) 4,515 23,168 17,899 (36,323) 2,044 6,788

Our restricted funds are made up of funds to complete capital works in order to progress our Phase 2 strategy for the restoration of the Abbeydale Picturehouse.

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022

19 Analysis of net assets between funds between funds
Unrestricted Restricted funds Total Unrestricted Restricted funds Total
funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
July 2022 are
represented by:
Tangible assets 62,665 - 62,665 69,223 - 69,223
Current
assets/(liabilities) 97,569 6,788 104,357 57,916 84,262 142,178
Long term liabilities (92,697) - (92,697) (42,500) - (42,500)
67,537 6,788 74,325 84,639 84,262 168,901

20 Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2022 2021
£ £
Within one year 24,000 24,000
Between two and five years 98,000 96,000
In over five years 390,000 406,000
512,000 526,000

21 Related party transactions

There are no other disclosable related party transactions.