2023-07-31-accounts

CHARITY REGISTRATION NUMBER 1151884 COMPANY REGISTRATION NUMBER 08117742

CADS SOUTH YORKSHIRE LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

Pace pat Qi aon UHI ! Hacker Young

CADS SOUTH YORKSHIRE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

‘Trustees S Rimmer S Brown K Antecliffe Charity number 1151884 Company number 08117742 Registered office Cuthbert House Arley Street Sheffield South Yorkshire §2 4QP Independent examiner A Hulse BA FCA UCHY Hacker Young 6 Broadfield Court Sheftield S8 OXF Bankers HSBC Carmel House 49-63 Fargate Sheffield $1 2HD

CADS SOUTH YORKSHIRE LIMITED

CONTENTS

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Page
Trustees' report 1-5
Independent examiner's report 6
Stalement of financial activities e
Balance sheet 8-9
Notes to the financial statements 10 - 23
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CADS SOUTH YORKSHIRE LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2023

The trustees present their annual report and financial statements for the year ended 31 July 2023.

The financial statements have been prepared in accordance with lhe accounting policies sel out in nole | 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: Stalement of Recommended Practice applicable to charities preparing their accounls in accordance wilh the Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102) (effective | January 2019)".

Objectives and activities

The objects of the charity are:

• The provision of recreational facilities (and in particular facilities for (he promotion and enjoyment of the arts and artistic activity) for the public at large or those whe by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances, have need of such facilities.

« The creation of training and employment opportunities by the provision of workspace. buildings and/or land for use on favourable terms

« The provision ofassistance or business advice or consultancy in order to provide training and employment

opportunities for artists or aspiring artists in all creative fields who are in financial or other charitable need through help: (i) in setting up their own business; or (ii) to existing businesses and in particular businesses involving the promotion or enjoyment of the arts or artistic activity.

• ‘lhe restoration and re energising ofheritage buildings occupied by the charity

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 and 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 scnsc - by consciously assisting, promating and advising independent arts and culture protagonists as well as supporting local and independent supply chains, thereby ercating Jobs in the scetor.

However, CADS is best understood as a key facilitator and enabler ofSheiTicld's independent Arts and Culture sector,

• arole it achieves through multiple workstreams, namely:

• Letting Affordable Studio and Project Spaces to Artists and Creatives

• Letting out space at Abbeydale Picture [louse for Events

• ® Hosting our own Arts and Culture events at Abbeydale Picture House

• Developing the Abbeydale Picture House towards the end goal of it becoming a nationally recognised cammunity 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.

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CADS SOUTH YORKSHIRE LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

Studios

The charity’s property portfolio has seen significant developments and successes over the past year. The Arley Street studio complex, acquired in December 2021, has now reached full occupancy, with approximately 20,000 square feet of ex-office space and 10,000 square feet of warehouse space fully utilized. This achievement not only contributes to our mission of providing affordable studios but also generates crucial income for our charitable activities.

Turthermore, a notable milestone was reached as a local theatre company moved into the Denby Suite, the largest and most challenging space to rent out at Arley Street. Their occupancy strongly aligns with our charitable objectives, with the space being used to support the arts, especially emerging artists working in theatre.

Al Eagle Works, our longstanding studio hub in Altercliffe, we continue to operate at full occupancy. While there has been some turnover in studios, all vacancies have been swillly filled, showcasing the sustained demand for our creative spaces. The units on Exchange Street continue to be occupied by the same operators,

Unlortunatcly, we reecived notification from the landlord of the Abbcydale Picture House that studio holders can no longer uccupy the building. As a resull, the units in the Abbeydale Picture House are currenly vacant. Whilst there were only 4 rentable spaces in the building, it furthers the impact of the difficulties we are facing with that building.

Restoration

Despite our ongoing commmilment to the restoration of the Abbeydale Piclure House, the past year has been marked by continued challenges and setbacks. Our efforts to address the safety concerns regarding the suspended ceiling encountered significant obstacles as we navigated ongoing issues with the landlord of the property.

lhe legal status surrounding the dispute with the landlord remained contested throughout the ycar. While we settled with the landlord without prejudice to our initial argument regarding the non-payment of rent due to their failure to address the roof issues, the financial strain of continuing legal proccedings led us to reach a scttlement to regain access to the building. However, we maintain our position (hal tac rent should not be payable until the rool has been fixed and have submitted a claim with our business insurance provider lo access legal funding. If these funds are released, we intend to resume our legal challenge with the landlord.

Advice from experts underscores the necessity of addressing the roof issucs before proceeding with further restoration work. In particular a survey underlaken by a chartered surveyor has advised lhat is would be unsale for any major restoration works to take place in the building while there is ongoing water ingress, Despite our best ettorts, the landlord of the building continues to refuse liability, complicating our ability to make progress in this regard.

Following the regained access to the building, our focus has shifled to hosting activilics in arcas unallceted by the safety concerns, such as the Fly Tower and front bar area. While some small remedial works have been undertaken for the provision of events, major interventions are on hold until the roof situation is resolved,

Overall, it has been a frustrating ycar with little to no progress in the restoration efforts for the Picture House. However, we remain steadfast in our commitment to preserving this historic landmark and will continue to explore all avenues to overcome the challenges we face.

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CADS SOUTH YORKSHIRE LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

Events

Despite facing significant challenges, our events program has persevered albeit on a limited capacity due to ongoing issues with the main auditorium at the Abbeydale Picture House remaining closed. However, we have continued to offer a reduced program of events, primarily focusing on utilizing the Fly Tower space.

With the main auditorium closed, our efforts have shifted towards the Fly Tower, where we've been able to host a variety of events. including live music and cinema screenings. Additionally, we have partnered with a collaborator to open a bar under the balcony in the auditorium, allowing us to expand our offerings to include music events in that space as well.

The redueed capacity of our venues has necessilaled a change in our approach lo event programming. The Fly Tower has proven popular for folk music events, smaller experimental music gatherings, and cult cinema film screenings. Meanwhile, the side bar under the balcony, previously underutilized, has been transformed into a new event space, While it offers a slightly higher capacity than the ly Tower at 100 attendees, its versatility is somewhat limited, and film screenings are not feasible in this space.

Despite these challenges, there have been some highlights throughout the year. Feedback from the public has been overwhelmingly positive, with many expressing their amazement at the venue and voicing their support for its success.

Financial review

During the year, the charity received just £176,617 (2022: £194,626) of income. This is slightly loss than the previous year, and significantly less than the ycars prior to that. This is mainly duc to the ongoing restrictions on the use of the Abbeydale Picture House lor the reasons sel out earlier in this report. CADS expended £250,304 (2022: £289,202) showing a deficit of £73,687 {2022: deficit £94,576). At 31 July 2023, the charity had restricted reserves of£6,788 (2022: £6,788) and unrestricted reserves in a deficil of £6,150 (2022: £67,537). The tolal reserves al 31 July 2023 were £638 (2022: £74,325).

ltis the policy of CADS South Yorkshire Limited to aim to hold in reserves Lhe equivalent of lhree months general running costs to include salary costs, This policy will be reviewed every twelve months,

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 CADSa great freedom to operate outside the hounds of grant funding and leaves it self- sufficient. Our SpaceC ADet 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. Kestricted 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 arc in place to miligale 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;

« The establishment of systems and procedures to mitigate those risks identified in the plan; and

• The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

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CADS SOUTH YORKSHIRE LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

Plans for future periods

CADS Future Plans

Ihe economic landscape, particularly in the aftermath of the Covid era, continues to shape CADS' strategic outlook. Trends such as the decline of city-center retail, the shift towards remote working and hyper-local consumption, the rise of digital services, and the renewed interest in local artisanal production remain prominent. Additionally, the deployment of levelling-up funding in the city presents new opportunities, although these have yet to materialise into tangible projects.

Despite these overarching trends, some developments have occurred. Arley Street has achieved full occupancy, signaling stability and success in our studio porttolio. However, the ongoing financial losses stemming from the Abbeydale Picture House pose a significant challenge. Without the necessary funding or the relcase of insurance funds to resume our legal challenge, we may be foreed to consider vacating the premises altogether,

Tn the face of these challenges, our future plans are contingent upon securing the resources needed to navigate the current uncertainties. If losses can be contained and funding obtained, we may explore the possibility of acquiring a new studio building in the future. However, for the tume being, such expansion cndeavors are not financially feasible.

As discussions with Sheffield City Council suggest potential new opportunities in the city, we remain vigilant and open to exploring avenues for growth and sustainability. Our commitment to repurposing and repositioning buildings in response to structural changes remains stcadfast, guided by a clear strategy and a constant supply of inquirics from key partners,

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 an 25 June 2012, as amended by a special resolution registered at Companics 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 ofsignature of the financial statements were:

S Rimmer

$ Brown D Butlin (Resigned 31 October 2023) K Anteliffe

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 overseen by a board of 4 trustees, who work closely with the management team on both strategic and operational matters. Trustees convene quarterly via Zoom or in-person meetings, with regular communication via phone and email between meetings. Trustee Stephen Rimmer maintains close collaboration with the CADS management team. Daniel Butlin, also serves as a member of staff, managing projects and fundraising.

Looking ahead, we are actively seeking to recruit additional trustees with diverse experience to further strengthen our governance structure and ensure effective decision-making processes.

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CADS SOUTH YORKSHIRE LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

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.

S Rimmer

Trustee

30 April 2024

Ses

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UH( 1 Hacker Young
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6 Broadfield Court Broadfield Way Sheffield $8 OXF

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

I repart to the trustees on my cxamination of the financial statements of CADS South Yorkshire Limited (the charitable company) for the year ended 31 July 2023.

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 Campanies 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:

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| accounting records were not kept in respect of the charitable company as required by section 3&6 of the 2006 Act;
or
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2 the financial statements do not accord with those records; or 3. the financial statements 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 cxamination; or 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charilies applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS§ 102).

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.

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A Hulse BA FCA
UHY Hacker Young
Chartered Accountants
Dated: 30 April 2024
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CADS SOUTH YORKSHIRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2023

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds	2023	funds	funds	2022
		Notes	£	£	£	£	£	£
lucome from:
Donations and legacies		3	3,444	-	3.444	10,171	17.899	28,070
Charitable activilies		4	155,610	-	155,610	157,975	-	187,975
Other trading activities		§	17,000	-	17,000	8,545	-	8,545
Investments		6	563	-	563	36	-	36
Total income			176,617	-	176,617	176,727	17,899	194,626
Expenditure on:
Raising funds		7	-	-	-	2S	-	2,115
Charitable activities		8	250,304	-	250,304	250,764	36,323	287,087
Total resources
expended			250,304	-	250,304	252,879	36,323	289,202
Gross transfers belween
funds			=	=	-	(2.044)	2,044	=
Net expenditure	for the	year/
Netmovement in funds			(73,687)	-	(73,687)	(78,196)	(16,380)	(94,576)
Fund balances at	]
August 2022			67,537	6,788	74,325	145,733	23,168	168,901
Fund balances at 31
July2023			(6,150)	6,788	638	67,537	6.788	74,325

The stalement of financial activiues includes all gains and losses recognised in the year.

All income and expenditure derive frum continuing activilics.

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

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CADS SOUTH YORKSHIRE LIMITED

BALANCE SHEET

AS AT 31 JULY 2023

		2023		2022
	Notes	£	£	£	£
Fixed assets
Tangible assets	13		56,107		62,665
Investments	I4		1		1
			56,108		62,666
Current assets
Debtors	15	36.810		17,191
Cash at bunkand in hand		37,846		136,173
		74,656		153,364
Creditors: amounts falling due within one
year	17	(54,627)		(49,008)
Net current assets			20,029		104,356
Total] assets less current liabilities			76,137		167,022
Creditors: amounts falling due after
morethan one year	18		(75,499)		(92.697)
Net assets			638		74,325
Income funds
Restricted funds	19		6,788		6,788
Unrestricted funds			(6,150)		67,537
			638		74,325

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CADS SOUTH YORKSHIRE LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2023

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 2023.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and far 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 atherwise 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 lo the small companies regime.

The financial statements were approved by the Trustees on 30 April 2024

5 Rimmer

Trustee

Company registration number (18117742

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

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 Cuthbert House, Arley Street, Sheffield, South Yorkshire, S2 4QP.

• 1.1 Accounting convention

The financial statements have been prepared in accordance with the charilable 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 | 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 | 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 helow.

1.2 Going concern During the year the charitable company suffered a loss of £73,687 (2022: £94,576) with problems at Abbeydale Picture ITouse resulting in additional costs whilst also reducing income. This is not sustainable with reserves now substantially extinguished. The trustees are now managing cashflow on a detailed basis, cutting costs and benefits from income from their subsidiary, Arley Street Space Limited. On this basis the trustees believe they can continue to meet their debts as they fall due. 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 usc 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 afler any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be reecived.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notificd of the donation, unless performance conditions require deferral of the amount, Incame tax recoverable in rclafign to donations reecived under Gill Aid or deeds of covenant is recognised at the Gime of the donation,

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CADS SOUTH YORKSHIRE LIMITED

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
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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 activitics and casts 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 un asset is determined as lhe 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 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
income/(expenditure) for the year. Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charitable company. Control is the power to govern the financial and
operating policies of the entity so as to obtain benefits from its activities,
1.8 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).
1,9 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 maturitics of three months or less, and bank overdralis. Bank overdralts are shown
wilhin borrowings in current liabilities.
= ile
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CADS SOUTH YORKSHIRE LIMITED

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
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FOR THE YEAR ENDED 31 JULY 2023
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1 Accounting policies

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(Continued)
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• 1.10 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.

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Financial instruments are recognised in the charitable company’s balance sheet when the charitable company
becomes party ta the contractual provisions of the instrument.
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Financial asscls 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 seille on a net basis or to realise the asset and settle the liability simultancously.

Basic financial assets

Rasie 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 cach reporting date. Financial asscts arc impaired where there is objective evidence that, as a result of one or more events that occurred atter the initial recognition of the financial asset, the estimated future cash flows have been alleeted.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the esumaled cash flows discounted at the asset’s original ellective interest rate. The impuirment 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 heen, 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 arc derccognised only when the contractual rights to the cash flows from the asset expire or arc settled, or when the charitable company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, ar if some significant risks and rewards of ownership are retained but contral of the assel has transferred lo another party that is able to sell the asset im ils entirely Wo an unrelated third party.

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

• 1 Accounting policies

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(Continued)
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Basic financial tiabilities 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 cffective interest rate method.

Trade creditors are obligations to pay for goads or services that have been acquired in the ordinary course of operations from supplicrs, Amounts payable are classilicd as current liabilitics (payment is due within one year or less. [f not, they are presented as non-current liabiliues. Trade credilors are recognised inilially al tramsaclion price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial habiliues are derecognised when the charitable company’s contractual oblizalions expire or are discharged or cancelled.

1.11 Employee benefits

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

Temnination benclils are recounised immediately as an expense when the charitable company is demonstrably commilled lo lerminale the employment of an employee or lo provide Lerminalion benefits.

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

1.13 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.

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2 Critical accounting estimates and judgements
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In the application of the charitable campany’s accounting policies, the trustecs are required to make judgements, estimates and assumptions about the carrying amountofassets and liabilitics that are not readily apparent from other sourees. The csumates and associated assumptions are based on historical expericnee and other factors ual 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.

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

3 Donations and legacies

	Unrestricted	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2022	2022	2022
	£	£	£	£
Donations and gifts	1,194	4,384	7.000	11,384
Grants receivable for core activities	2,250	5,787	10,899	16,686
	3,444	10,171	17.899	28,070
Grants receivable for core activities
Bounce back loan interest	:	1,250	=	1,250
Kickstarter	-	-	10,899	10,899
Other	2.250	4,537	:	4,537
	2,250	5,787	10,899	16,686

4 Charitable activities

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2023 2022
£ £
Sales within charitable activities 155,610 157,975
Other trading activities
Unrestricted Unrestricted
funds funds
2023 2022
£ £
‘Trading activity income: other 17,000 8,545
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5 Other trading activities

‘Trading activity income: other

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

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6 Investments
2023 2022
£ £
Interest receivable 563 36
vi Raising funds
2023 2022
£ £
Trading costs
Other trading activities - 2,115
- 2,115
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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

8 Charitable activities

	2023	2022
	£	£
Staff costs	78,242	83,007
Depreciation and impairment	6,558	6,558
Community activities	22,697	18,132
Rent	67,713	60,933
Utilities	10,182	15,445
Office expenses	11.438	10,920
Il costs	1,424	1,467
Membership tees	458	198
Subscriptions	ST	682
Insurance	28,965	23,275
Bank charges and interest	5,405	3,798
Advertising and public relations	1,790	1,926
Repairs andmaintenance	6,044	12,117
Legal and professional fees	4,175	40,356
General expenses	528	1,222
Bad debts	1,000	4,627
	247,376	284,663
Share ofgovernance costs (see note 9)	2,928	2,424
	250,304	287,087
Analysis by fund
Unrestricted funds	250,304	250,764
Restrictedfunds	-	36,323

-|6-

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

9 Support costs

Support costs
	Support	costs	Governance	2023	Support	costs	Governance	2022
			costs				costs
	£		z	£	x,		£	£
Independent examination
fees		-	2,928	2,928		-	2,424	2,424
		-	2,928	2,928		-	2,424	2,424
Analysed between
Charitableactivities		“	2,928	2.928		A	2,424	2,424

Governance casts includes payments ta the independent examiner of £900 (2022: £900) for independent examination feos and £1,568 (2022: £1,524) for other services.

10 = Trustees

C Rimmer (trustees’ sister) received remuneration of £24,207 (2022: £20,858) and had pension contributions made of £726 (2022: £626) under her contract of employment with the charitable company.

D Butlin received remuneration of £19,578 (2022: £18,225) and had pension contributions made of £587 (2022: £547) under his contract of employment with the charitable company,

K Anteliffe received remuneration of £nil (2022: £4,001) and had pension contributions made of£nil (2022: £120) 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.

1. Employees

‘The average monthly number of employees during the year was:

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2023 2022
Number Number
‘Trustees 4 4
Employees 3 4
Total 7 8
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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

11	Employees		(Continued)
	Employment costs	2023	2022
		£	i
	Wages and saluries	74.734	76,998
	Social security costs	1,663	4,053
	Otherpension costs	1.845	1,956
		78,242	83,007

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 registercd charitable status, no taxation should be payable.

13 Tangible fixed assets

Tangible fixed assets
	Leasehuld	Fixtures and	Total
	improvements	fittings
	£	£	£
Cost
At 1 August 2022	60,136	17,786	77,922
At 31 July 2023	60,136	17,786	77,922
Depreciation and impairment
At 1 August 2022	7,323	7,934	15,257
Depreciation charged in the year	2,728	3,830	6,558
At 31 July 2023	10,05 1	11,764	21,815
Carrying amount
At 31 July 2023	30,085	6,022	56,107
At31July2022	$2,813	9,852	62,665

he

CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

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14__sFixed asset investments
Other
investments
Cost or valuation
At 1 August 2022 & 31 July 2023 1
Carrying amount
At 31 July 2023 1
At31 July 2022 ]
2023 2022
Other investments comprise: Notes £ £
Investments in subsidiaries 23 1 1
15 Debtors
2023 2022
Amounts falling duc within onc year: £ £
Trade debtors 15,539 7,045
Amounts owed by subsidiary undertakings 20,374 9,374
Prepayments and accrued income 897 Ld
36,810 17,191
16 Loans and overdrafts
2023 2022
£ £
Bank loans 97,931 114,765
Payable within one year 22,432 22,068
Payable aller one year 75,499 92,697
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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

17.	Creditors: amounts fallingdue within oneyear
			2023	2022
		Nates	£	£
	Bank loans	16	22,432	22,068
	Other taxation and social security		6,177	=
	Trade creditors		9,866	8,554
	Othercreditors		13,013	15,613
	Accruals and deferred income		3,139	2,773
			54,627	49,008
18	Creditors: amounts falling due aftermore than one year
			2023	2022
		Notes	£	2
	Bankloans	16	75,499	92697

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2023

20 ~=— Analysis of net assets between funds

	Unrestricted	funds	Restricted funds	Total	Unrestricted	Unrestricted	funds	Restrictedfunda	‘Total
	2023		2023	2023		2022		2022	2022
	£		£	£		£		£	£
Fund balances at 31
July 2023 are
represented by:
‘Tangible assets	56,107		-	56,107		62,665		-	62,665
Investments		I	-		i}				-
Current assets/(liabilities)
	20,029		-	20,029		97,568		6.788	104,356
Long term liabilities	(75,499}		-	(75,499)		(92,697)		-	(92.697)
		638	-		638	67,537		6,788	74,325

21° 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:

	2023	2022
	£	£
Withinone year	24,000	24,000
Betweentwo and five years	100,000	98,000
In over five years	364,000	390,000
	488,000	$12,000

22 ~=Related party transactions

There are no other disclosable related parly transactions.

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CADS SOUTH YORKSHIRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023

23 Subsidiaries

These financial statements are separate charilable company financial slatements [or the year ended 31 July 2023.

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Details of the charitable company's subsidiaries at 31 July 2023 are as follows:
Name of undertaking Registered Nature of business Class of % Held
office shares held = Direct Indirect
Arley Street Space Ltd England and Provision of buildings, facilitiesOrdinary 100.90
Wales and open spaces
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ice

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