The Furnival (Registered charity number 1154656) (Company limited by guarantee. Registered Number 08582273) FINANCIAL STATEMENTS for the year ended 31 August 2024 Contents Page Legal and administrative information Trustees, report Examinerfs report Statement of financial activities Balance sheet Not8S to the accounts 9-10
The Furnival Legal and admlnlstratlve Information Directors Mr l F Cloke MrRJCKeene Mr M Power Mrs L Johnson Registered Charity number 1154656 Company Ltd by Guarantee number 08582273 Prlnclpal address 195A Verdon Street Sheffield S3 9QQ Reportlng Accountant lthite Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL
The Furnlval Trustee report The Trustees present their annual report and financial statements for the year ended 31 Augusl 2024 which are also prepared lo 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 Accounting and Reporting by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard5 for Smaller Entities. Structure, governance and management The charity is a company limited by guarantee. It is managed by a board of experienGed trustees, who are also the dlrectors of the company, which is responsible for ensuring financial stability and providing professional and strategic advice on policy and resource management. Trustees are appointed in accordance with the terms of the Articles of Association. Trustees can be norninated at the annual general meeting or co-opted during the year by the board for their special skills or expertise, the membership of the board is ratified by the annual general meeting. None of the trustees has any beneficial interest in the company. All of Ihe trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees are responsible for the overall management and control of the charity and receive regular reports from the manager. All matters and powers of strategic management and control are vested in the board. The trustees have assessed the major risks to whlch the charity Is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The trustees have sought to discharge their responsibilities by the implementation of strong recruitment and supervision policies, and by regular and rigorous reviews of policy, ensuring that they are fully implemented by all staff and volunteers. The trustees also review the flnanci81 situation on a monthly basis to ensure the continued viability of The Furnival. Objectlve and Actlvltles The Furnlval is a welcoming community, working together to empower families and local people. We build capabilily and conflden¢e to support social incluslon and cohesion. We are based in community space in Burngreave and thrive through our nelMork of relationships across the community and city area. The Trustees, with the involvement of the Charrty's management, have formed a future development plan I'the plan'l for the next 3-5 years In order to have a clear roadrnap of where the Charity Is going, and how it will get there. In forming the plan the Trustees have performed a thorough review of the Charity's current model, risks and opportunities, By reducing and moving away from the risks and lowards the opportunities the Trustees have formed a plan that will enable the Charity to thrlve, rather than just suNive. The plan has set the objectives of the Charity as.. To deliver projects with demonstrable social impact that match our capabilities and the needs of our community in particular through leveraging our great eOrk of relationships with BAME woman. To be a financially sustainatyle organisalion To grow awareness of our work with current land potentiall beneficiaries, 8UPPQrterslpartnerslfunders and wider influencers Public Beneflt ststement The trustees can confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by ihe Commission in reporting On howwe are achieving our charrtable objects . This report outlines our key achievements and the challenges we continue to face as a small neighbourhood charily .
The Furnlval TThstee report Achievements and performance It continues to be a privilege to support the work of the Furnival tearn of staff, volunteers and trustees. The trustees meet regularly to support the development of our strategy and the teams that deliver it. We have a fairly tight schedule of reviewing and updating our policy framework and financial position. l am pleased to say that although our funding fluctuates we have managed to tabilize this thanks to the exce11ent record for delivery of Creative English and Creative numeracy as part of Sheffield's local priorities for adult learning and developmenl. We have strengthened our small team of Truslees, welcoming a newtrustee, Louise Johnson who has a finance background and will help us Continue to manage our resources well. Looking forward we would like to find new trustees as part of succession planning. The Furnival is committed tc being led by whal matters most to our beneficiaries and the wider local community and always stay focused on what we are learning to establish our plans. The trustees would love to strengthen this at Board level ensuring we include more leaders with the lived experience of the issues being faced here, particularly by the many local women. new arrivals and their families. This will be a priority in the year ahead. The activities here in 2023124 are described below and reflect our commitment to inclusion, community development and partnerships, We have some great partners who connect and add value to the local relationships we have. This is a return on many years of investing in collaborations that benefit local people. The Trustees are increaslngly aware that the success of the staff team is creating pressure and are taking steps to add to our capacity and we have been delighted to employ former beneficiaries and local people to 8UPPOrt the work. There are a number of strategic developments and in 2024125 we hope to secure additional funds. At the time of writing we are excited to have heard that Our Status as a local community hub In North Sheffield is being recognised by Ihe award of funds through the South Yorkshire IC8's This Is Us programme aimed at working with grassroots communities to engage local people and contribute to reducing health inequalities in Sheffield. Exciting times ahead. Thanks also to the support of our amazing team of trustees who go above and beyond to ensure that the Charity is focused on our charitable objects and to be a thriving community hub valued locally and by partners for the transforming dlfference that helps improve the lives of local families. It is simply a place where people love being part of the team. lain Cloke
The Furnlval Trust•e roport Flnanclal revlew Income for the year is shown 81 £76,58112023. £65,553) Expenditure is shown at £63.80712023.' £44,646) with a year end carried foNard of unrestricted funds balance of £52,86212023'. £44,793) Reserves Policy The trustees have re-designated an amount of £10.000 to cover the c08t of closure and statutory redundancy payments should the remaining operational reserves deplete to a level that is no longer sustainable Operational reseNes are monitored monthly through management reports and assist to determine the level of addilional funding required through grant application processes. Trustees responsibllltles for the flnanclal statements Company and charty law requires the trustees to prepare financial statements for each financial period which show the state of affairs of the charity and of net incorne or expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to. Cl select suitable accounting policies and apply them consistently.. El make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going Concern basis unless it is inappropriate to presume that the charity will continue in operation. El state whether applicable a¢¢ounting standards of recommended practice have been followed subject to any departures disclosed and explained in the financial statements. The Trustees are responsible for keeping proper accounting re¢ord$ which disclose th reasonable accuracy at any tlme the financial position of the charity and enable the Trustee5 to prepare financial statements The Truslees are responsible for safeguarding the assets of the chariiy and hence for taking reasonable steps for the prevention of fraud and other irregularities. This report has been prepared in accordance with the special provislons for small companies under Part 15 of Ihe Companies Ad 2006, This report was approved by the Truslees on ILI4 and is signed on their behalf by.. Mr l F Cloke Trustee
Th• Furnlval Indep•nd•nt Examlnefs r•port on th• Aecount$ of The Furnlval for tho yèar •nd•d 31 August 2024 I report on the accounts of the company for the year ended 31 August 2024, which are set out on pages 7 to 10. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. t is my responsibility to.. U examine the accounts under s8Ction 145 of the 2011 Act; Cl to follow the procedures laid down in the general Directs'ons given by the Charity Commission under section 145 {5)(b) of the 2011 Act. and to state whether particular matters have com8 to my attention. Basis of independent examiner's repprt My examinatlon was carried out in accordance with th8 general Directions given by the Charity Commission. An ex8mination includes a review of the accounts'ng records kept by the charity and a comparison of the accounts presented with those records. It also Includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do nol provide all the evidence that would be required in an audlt and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement b810w, Independent examiner's statement In connection with my examlnation, no matter has come to my attention.. (1) which gives me reasonable cause to believe that in any material respect the requirements.. to k88p accounting records in accordance with section 386 ofthe Companies Act 2006,. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accountlng and Reporting by Charities have not been met., or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of th8 accounts to be reached. Signed.. Craig Williamson Vvhite Rose Accounting for Chariti8S The Ghyll Threapland Aspatria CA7 2EL Date..
The Furnival Statement of flnancial actlvltles for tho year onded 31 August 2024 Notes Unrestrlcted funds Restricted funds Total 2024 Total 2023 Incoming resources Grants Donations Room hire Bank interest Total incomlng resources 60,804 2,405 215 873 12,553 73,357 2,405 215 873 76,8 63,000 1,888 423 242 Resources expendèd Staff Activities & Consumable Rent and rates Utilities Building repairs and maintenanc8 Computer and software Insurance Independent examination Bank charges Other Expenses Total resources expended 45,394 3,459 2,242 1,668 205 824 1,410 465 60 2,880 1,880 2,820 48,274 5,339 5,062 1,668 205 824 1,410 465 60 31,840 5,012 4,090 965 108 550 1,447 440 60 98 Net incomingl(outgoing)resources 8,070 4,973 13,043 20,907 Fund balances brought forward 44,793 7,608 52,401 31,495 Fund balances carried forward 52,862 12,581 65,443 52,401
The Furnival Balance Sheet as at 31 August 2024 Company Number: 04334254 2024 2023 Notes Current assets Debtors Balance at bank and cash in hand Total current assets 1,140 64.768 65,908 1,098 51,743 52,841 Creditors: amounts falling due within one year (465) (440) Net current assetsl(liabilities> 65,443 52,401 Total assets less current liabilities 65,443 52,401 Net assets 65,443 52,401 Represented by Unrestricted general fund Designated funds Restricted funds 42,862 10,000 12.581 65,443 34,793 10,000 7,608 52,401 For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. This report was apprcved by the Trustees on their behalf by 0£ nd is signed on MrsL ohnson Trustee
The Furnlval Notes to the accounts for the year ended 31 August 2024 Accounting policies:. (a) Basls of preparation The Financial Statements have been prepared in accordance with the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102), and the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 (effective from January 2015 and updated with effect from January 2016) - (the Charities SORP (FRS102)), as modified for smaller charities. The Charity meets the definition of a public benefit entity as defined under FRS102. (b) Accounting for Income Donations and sundry income are accounted for on receipts basis. Grant income and fee income are accounted for on an accruals basis, insofar as it is prudent to do so. (c> Accountlng for purchases wlth an expected Ilfe of more than one year It has been considered prudent to write off the costs of SUGh items in the year of purchase Grants Grants received during the year were:_ Unrestricted Restricted Total Church Burgess Trust FACES Sheffield City Council Multiply Sheffield City Council Cost of Living Sheffield City Council Community Meals Sheffield City Council ESOL Sheffield 1000 Verdon Street Enterprise arfedale Foundation 1,938 49, 300 1,938 49,300 2,000 553 2,066 1,000 6,500 10,000 73,357 2,000 553 2,066 1,000 6,500 10,000 12,553 60,804 Staff numbers and costs:. Wages and salaries Pension 45,096 3,178 48,274 The average number of employees during the year was 4, all of whom were engaged in activities in furtherance of the objects of the charity. No employees received emoluments in excess of £50,000 per year Trustees are not remunerated. No trustees received reimbursement of out-of-pocket expenses.
Th• Furnival Not•s to the accounts (continued) for tho yoar ended 31 August 2024 4 Debtors:. These refer to monies being due to the charity at the year end. They are in respect of'.- 2024 2023 Prepayment 1,140 1,140 1,098 1,098 5 Creditors and accruals These are expenses owed by the group but not paid during the accounting period. They are in respect of.. 2024 2023 Accruals 465 465 440 440 6 Restricted funds Opening Incoming balance resource 01109123 Closing balance 31108124 Outgoing resources Sheffield City Council Cost of Living Sheffield City Council Café Sheffield City Council Cook & Share Sheffield City Council Community Meals Sheffield City Council Raised Beds South Yorkshire Community Foundation Vvharfedale Foundation 2,000 (1,090) (211) (377) (496) (148) (5,258) 910 211 377 553 57 148 6,872 1,614 10,000 12,581 10,000 12,553 7,608 (7,580) 10