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← Element Society

2023-12-31-accounts

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Registered Charity Number: 1157932 Company number: 08576383

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Annual Report and Unaudited Financial Statements

For the year ended 31 December 2023

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society

Contents

Page
Legal and administrative information 1
Trustees' annual report 2 – 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the accounts 11 - 16

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society

Legal and administrative information for the year ended 31 December 2023

Trustees

Ian Balshaw Joseph Parkinson Hugh Mann Adamson Resigned 14 August 2023 Gregory Burke Resigned 1 Jan 2024 Adrian Rattenbury Sally Jackson Resigned 30 November 2023 Douglas Muzawazi Ian Clarke Resigned 1 March 2023 Marcus Isman-Egal Appointed 1 December 2024 Gabriella Lesca Appointed 1 December 2024 Samantha Headford

Resigned 30 November 2023

Resigned 1 March 2023 Appointed 1 December 2024 Appointed 1 December 2024 Appointed 1 December 2024

Company Secretary Christopher Hill

Key management Christopher Hill Chief Executive Officer

Charity number 1157932

Company number 08576383

Registered office

Yorkshire House 66 Leopold Street Sheffield S1 2GZ

Accountants

Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH

1

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report for the year ended 31 December 2023

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 December 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and the charities Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; FRS 102) issued in October 2019.

Structure, governance, and management

Structure - The charity is constituted as a company limited by guarantee and is governed by its memorandum and articles of association.

Governance - The directors of Element Society are its trustees for the purposes of charity law and are appointed by the company’s members. There is a minimum of 3 directors at any one time.

The Board shall admit to membership such persons as it thinks fit and the Board may from time to time, by resolution, prescribe (and vary) criteria for membership. Nominations of directors are for an indeterminate period, provided that one third or three (whichever is the greater number) directors are required to retire at each Annual General Meeting but so that the nominated Board director(s) shall be eligible for re-nomination.

New trustees attend a series of meetings with the executive team and attend their initial board meeting as an observer as part of their induction to the work of the charity. Formal governance training is delivered internally using charity commission guidance, though we are reviewing how to enhance this process over the coming year.

A governance improvement plan is proposed for 2025 to bring all aspects of governance to a gold standard.

Management

The day-to-day management of the charity is provided by Element Society whereby Christopher Hill fulfils the role of Chief Executive. The senior management team supports the Board of Trustees through its delegated powers.

Principal Activities and Review of Operations

Element Society’s objects are the advancement in the life of young people by providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals. This includes young people who are disadvantaged due to factors including but not limited to: mental health, employment, educational attainment, financial status, social skills, low social mobility, discrimination, and stability. Element achieves this by providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Element Society believes in young people and their ability to do unbelievable things. We work within ethical guidelines on projects that will change the world, but we aim to do this differently.

Our methods are to disrupt current thinking, pool expertise from all disciplines and draw from a wealth of crosssector experience to have a genuine positive impact on the world. This means bringing enterprise thinking to all our work. We achieve our targets, provide quality client service and always push forward to pioneer new ground. There is no standing still for us, no resting on our laurels, no taking our position as deserved instead of achieved.

Our projects are carefully selected based on a belief and understanding that they can make an achievable difference. We are undeterred by working in different sectors and know that with the right tools we can achieve success for any project that we truly believe in.

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Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report - continued for the year ended 31 December 2023

Objectives and Public Benefit

The trustees confirm that, to the best of their knowledge and ability, they have fulfilled their duty to deliver clear and meaningful benefits for the public through the Charity's programme of work. In doing so, they have referred to the Charity Commission’s guidance when reviewing our aims, objectives, and planning future activities.

This year, the Charity has achieved significant public benefits, with 699 young people aged 16–24 taking part in our projects and programmes. Participants were from across the Sheffield City Region, reflecting our commitment to supporting local young people.

We are a non-profit organisation based in Sheffield that supports young people to achieve the unbelievable. We do this by delivering programmes and workshops that empower young people to make a positive change in their communities, raise their aspirations and become role models to their peers.

Element Society is an independent youth-led organisation that has empowered over 10,000 young people to change their lives and their communities since opening in 2013. Young people on Element’s programmes have completed over 200,000 volunteer work hours, making a difference in Sheffield’s lives and communities. This vital voluntary action has contributed at least £2.5 million of impact to the city.

Element does this by running programmes and projects that make young people feel valued individually and as part of a community, encouraging young people to try something new or achieve something greater, and providing the means and support to give young people better prospects for the future.

Demographics

Element work with young people from very diverse backgrounds, representative of all areas of Sheffield. Over the financial year we had 2,318 young people taking part in our various programmes.

Religion Religion Gender Gender Ethnicity Ethnicity
SEN LGBT+ FSM None Muslim Christian Other Male Female Other White Non-white
30% 14% 68% 13% 30% 27% 6% 50% 46% 4% 47% 53%

3

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report - continued for the year ended 31 December 2023

Achievements and performance

Contracted work

Positive Change Programme

The Positive Change Programme was a precursor to Sheffield City Council’s employability programmes. It is designed to inspire and invigorate young people and adults to move them closer to accessing support for training and employment.

This programme was not designed to incorporate any aspect of employability skills training. Instead, the programme was about moving people closer to being open to accessing support by addressing issues around confidence and motivation.

Element delivered 4 cohorts of the programmes to 24 young people.

Grant Funded Programmes

Holiday Activity Fund

The Holiday activities and food (HAF) programme provides free holiday club sessions. They are for school aged children (from Reception to Year 11) who get income-assessed/benefits–related free school meals. The programme is funded by the Department for Education. Element delivered in the region of 1,500.

Fun Days

Various funders supported Element to deliver 8 family fun days across Sheffield in areas of multiple deprivation.

Alternative Provision

Alternative provision (AP) is a type of education for children who are unable to attend school due to a number of reasons. Element is registered on the AP Framework for Sheffield and has been delivering a programme for primary aged children.

Galvanised Youth Project

A targeted intervention - Taking a group of young people away on a three day outward-bound residential, a series of 5 interactive and engaging workshops and providing young people with up to date information and signposting on youth service provision throughout the city.

Period Peers

The Period Peer role is aimed at young people approximately 14-19 years of age, who would like to deliver a small number of activities on periods and menstrual health to girls and young people who have periods. The activities and resources are designed by the “Period Peers” and other young people in the project.

Over 18s youth club

A 9 month provision for over 18 - 24 year olds with additional support needs. Youth drop-in offering a warm space, use of IT and IAG support.

Life Hack

At Element Society, we believe in the power of community to inspire transformation. Over the past year, the Life Hack Programme, supported by BBC Children in Need, has proven just how much young people can achieve when given the right support and opportunities. Designed for NEET (Not in Employment, Education, or Training) young people aged 16–18, Life Hack equips participants with vital skills, builds confidence, and lays the foundation for brighter futures.

4

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report - continued for the year ended 31 December 2023

Celebrating Key Achievements

Reserves Policy

Element Society’s reserves policy is informed by:

As of 31 December 2023, the reserves target was approximately £80,000 whilst free reserves stood at £121,096.

Going Concern Statement

The trustees have reviewed Element Society's financial position and future prospects and have a reasonable expectation that the Charity will continue to operate as a going concern for the foreseeable future. While funding for all 2025 costs is not yet fully secured, the Charity has a strong track record of successfully obtaining funding and maintaining robust relationships with local authorities. These longstanding partnerships, coupled with a healthy financial reserve, provide a solid foundation for the Charity's ongoing operations and future growth.

The trustees remain confident in Element Society's ability to deliver its objectives and continue its impactful work supporting young people in the Sheffield City Region.

Plan for the Future

As Element Society continues its mission to empower young people across Sheffield, our strategy prioritises programmatic expansion, financial sustainability, and strategic partnerships to support youth development in an ever-evolving funding landscape. This approach not only addresses the immediate needs of young people but also builds resilience in our organisation and community partnerships, setting a strong foundation for sustained impact.

  1. Program Expansion and Targeted Offerings

  2. Youth Engagement and Empowerment: With over 10,000 young people reached since 2013, Element Society is committed to developing new programmes that cater to the needs of Sheffield’s diverse youth. We are designing initiatives aligned with emerging trends, such as the increasing importance of digital literacy and skills development, to enhance young people’s employability and life skills.

  3. Special Education Needs and Disabilities (SEND): Element has pioneered SEND-specific programmes, including the first NCS SEND programme and HAF (Holiday Activity Fund) initiatives tailored for SEND schools. These efforts will expand to meet growing demand, ensuring that young people with SEND receive the support needed to thrive and feel valued.

  4. Strategic Partnerships for Funding and Resource Sharing

  5. Collaboration with Sheffield City Council: Element has established a strong relationship with the council, securing funding for Holiday Activity Fund programmes, alternative provision for primary pupils, and enterprise camps. These partnerships lay the groundwork for future contracts, potentially expanding to alternative provision for teenagers and additional community projects.

  6. Corporate and Community Partnerships: Leveraging connections with partners like Plusnet and local businesses, Element Society will gain access to specialist support, funding, and resources to deliver high-impact programmes. Additionally, partnerships with entities like Youth Hostels Association (YHA) and national stakeholders enable us to scale our reach cost-effectively, ensuring more young people can participate in transformative experiences.

5

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report - continued for the year ended 31 December 2023

  1. Property and Infrastructure for a Thriving Youth Hub

  2. Youth Hub Development: Element Society envisions a permanent multi-purpose youth hub that provides a safe, inclusive space for young people. While we currently operate from Yorkshire House on an annual lease, we continue to seek a longer-term property solution to facilitate infrastructure investments that meet youth needs. This hub will house sensory rooms, recording studios, classrooms, and open spaces, creating a comprehensive environment for youth engagement, learning, and support.

  3. Strengthening Financial Resilience and Revenue Streams

  4. Diversifying Income: With the completion of the NCS contract, Element has pivoted to a more diverse revenue model. In 2024, we are implementing grant applications for significant funding sources, including the Heritage Lottery Fund (£30,000), JD Sports (£5,000), and South Yorkshire Police (£30,000), with additional funding bids planned for the Youth Endowment Fund. This diversification provides a stable financial base and enables long-term planning.

  5. Corporate Social Responsibility and Local Sponsorships: Element Society is developing relationships with businesses across Sheffield and the EFL, whose educational programmes require rigorous evaluation. With Element’s proven impact measurement capabilities, we aim to secure contracts for evaluation services that generate both revenue and insights into youth outcomes across the region.

  6. Commitment to Youth Voice and Influence in Strategic Decision-Making

  7. Youth-Led Impact: Element Society’s programming and strategic decisions are heavily informed by youth feedback, ensuring that our initiatives resonate with and meet the actual needs of young people. We involve young people in shaping programme content, staffing decisions, and operational plans, fostering a sense of ownership and leadership.

  8. Showcasing Youth Achievement: Celebrating youth contributions remains a core part of our mission. From impactful volunteering to creative projects, the young people engaged in Element’s programmes are supported to ‘achieve the unbelievable,’ a commitment that strengthens their connection to Element and empowers them as community changemakers.

Long-Term Vision Moving forward, Element Society will continue to adapt to changing youth needs and funding landscapes while upholding our commitment to innovation, community engagement, and measurable impact. Our ongoing focus on sustainable growth, programme diversity, and deep-rooted partnerships will ensure that Element remains a leader in youth development in Sheffield, creating opportunities for thousands of young people to thrive and contribute meaningfully to society.

Property

Element has a plan for a multi-purpose youth hub and needs to either negotiate an appropriate lease at Yorkshire House or find a suitable property.

The tenancy at Yorkshire House is based on an annual lease, renewed every year. We recognise that this leaves us vulnerable and having limited scope for capital investment in the building. It also limits the opportunity funders to offer grants for structural improvements. We continue to ask the landlord, Yorkshire Building Society, for a longer-term lease, but they are reluctant to agree. We will therefore keep a watch for other suitable property in the city centre, that meets the needs of our young people and our administrative centre, and should this situation continue find a new home for Element.

The youth hub will significantly enhance Sheffield’s capacity to provide accessible, collaborative, and impactful youth services. With Element Society’s established connections, including those with Sheffield City Council and local funders, the hub will become a flagship project demonstrating the city’s commitment to young people’s development and well-being.

6

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Trustee report - continued for the year ended 31 December 2023

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing a Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

19/12/24

The trustees' report was approved by the board of trustees on _______ and signed on their behalf by:

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Name: ……………………………………………….

Trustee

Ian Balshaw

7

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Independent examiner’s report to the directors of Element Society (‘the Company’)

I report to the charity directors on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the directors of the Company you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement – matter of concern identified

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to organisations preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

In carrying out my examination, I reviewed the follow-up to my 2022 accounts recommendations, and minutes of trustee minutes for the accounting year and beyond. As reported as part of the 2022 accounts work, the lack of review of policies and the lack of formal trustee meetings, especially in the period when the CEO was off sick, meant the trustees had insufficient oversight of the charity and its day to day finances during mid-late 2023/early 2024. No improvements to the governance were found during the 2023 accounts work – there has not been a formal meeting of the trustees since March 2024 and the filing of the accounts is once again late with the charity commission (and required an extension with Companies House). Whilst a governance plan has been prepared, at the time of signing the accounts it has not been presented to/adopted by the board of trustees, and no detailed implementation plans exist. The late preparation of accounts for the last 5 years in a row (extended Companies House filing or late Charity Commission filing) has meant that no improvements to governance have been implemented.

Of specific note is that a change of charitable objects was discussed at the October 2022 meeting and filed with Companies house in November 2022. However the Charity Commission have still not been notified of this.

I have no other 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 accounts to be reached.

Signed: ____ Sarah Lightfoot, FCA DChA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH

19-Dec-24 | 15:56 GMT

Date:

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Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society

Statement of financial activities (incorporating the income and expenditure account) For the year ended 31 December 2023

Notes
Income from:
Donations
2
Charitable activities
3
Investments - bank interest
Total income
Expenditure on:
Charitable activities
4
Net income/(expenditure)
Transfers between funds
12
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
9,594
29,522
1,781
40,897
143,065
143,065
(102,168)
-
(102,168)
225,985
123,817		 Restricted
funds
£
917
156,050
-
156,967
144,950
144,950
12,017
-
12,017
46,204
58,221		 Total
2023
£
10,511
185,572
1,781
197,864
288,015
288,015
(90,151)
-
(90,151)
272,189
182,038		 Unrestricted
funds
£
1,167
305,959
292
307,418
309,533
309,533
(2,115)
1,523
(592)
226,577
225,985		 Restricted
funds
£
16,959
72,668
-
89,627
82,330
82,330
7,297
(1,523)
5,774
40,430
46,204		 Total
2022
£
18,126
378,627
292
397,045
391,863
391,863
5,182
-
5,182
267,007
272,189

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.

9

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Balance Sheet As at 31 December 2023

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----- Start of picture text -----
Total Total
Notes 2023 2022
£ £
Fixed assets
Tangible assets 7 2,621 3,931
Investments 8 100 100
2,721 4,031
Current assets
Debtors 9 760 104,379
Cash at bank and in hand 190,543 182,174
Total current assets 191,303 286,553
Creditors: amounts falling due within one year 10 (11,986) (16,832)
Net current assets 179,317 269,721
Total assets less current liabilities 182,038 273,752
Creditors: amounts falling due after more than one year 11 - (1,563)
Total net assets 182,038 272,189
Represented by:
Funds of the Charity
General funds 123,817 225,985
Restricted income funds 12 58,221 46,204
13 182,038 272,189
----- End of picture text -----

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director's acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

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

19/12/24

Approved by the Board of Trustees on _____ and signed on their behalf by:

Name:

==> picture [79 x 37] intentionally omitted <==

Trustee

Ian Balshaw

10

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Notes to the Accounts For the year ended 31 December 2023

1 Accounting policies

a General

Element Society is a charitable company in the United Kingdom limited by guarantee. In the event that the charity is wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and with the Charities Act 2011. The financial statements have taken advantage of the exemption to prepare a Statement of Cash Flows.

Element Society meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £.

b Group accounting

The charity is taking exemption of the requirement to prepare group accounts on the basis that the group is small and is not an eligible group.

c Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Cash donations are recognised on receipt. Other donations are recognised once the charity 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.

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis, including irrecoverable VAT, and has been listed under headings that aggregate all the costs related to that activity.

Direct costs, including directly attributable salaries, are allocated on an actual basis to the key strategic areas of activity. Overheads and other salaries are allocated between expense headings on the basis of the time spent.

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

Where costs cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources.

f Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Fixtures, fittings & equipment 20% straight line

Computers 33.3% straight line

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 net income/(expenditure) for the year.

g Investments

Investment in a subsidiary company is held at cost less accumulated impairment losses.

h Debtors

i Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

j Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

k Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Notes to the Accounts (continued) For the year ended 31 December 2023

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

m 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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

n Taxation

As a charity, the organisation is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

o Leases

Rental payable and receivable under operation leases are charged to the SOFA on a straight line basis over the period of the lease.

p Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the organisation without further specified purpose and are available as general funds. Designated funds are funds set aside at the discretion of the trustees for a specific project.

Restricted funds are to be used for specific purposes as laid down by the funder.

q Going Concern

The financial statements have been prepared on a going concern basis. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. and consider that the budgeted income and expenditure is sufficient with the level of reserves for the charity to continue as a going concern.

r Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

2 Income from donations

Donations and gifts Unrestricted
Funds
£
9,594
9,594		 Restricted
Funds
£
917
917		 Total
2023
£
10,511
10,511		 Unrestricted
Funds
£
1,167
1,167		 Restricted
Funds
£
16,959
16,959		 Total
2022
£
18,126
18,126

12

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Notes to the Accounts (continued) For the year ended 31 December 2023

3 Income from charitable activities

Unrestricted
Restricted
Funds
Funds
£
£
Contracts and fees
National Citizens Service
-
-
Contracts and fees
Other contracts
29,522
-
Arnold Clarke
Fun day
-
-
BBC Children in Need
Life Hack
-
10,000
Co-op Community Fund
Blue Dot - MH Workshops
-
-
The Hedley Foundation
Outdoor days
-
-
The National Lottery Community Fund
Chillzone
-
9,931
The National Lottery Community Fund
Jubilee fun day
-
-
The National Lottery Heritage Fund
Heritage Through Food: Roots to Table
-
35,681
Plan International
"Period Peers" pilot
-
2,000
Sheffield City Council
Covid Memorial Fund
-
-
Sheffield City Council
VCS recovery fund
-
-
Sheffield City Council
Universal Youth Fund
-
20,000
Sheffield City Council
Holidays Activities with Food Grant - easter
-
5,210
Sheffield City Council
Holidays Activities with Food Grant - summer
-
42,484
Sheffield City Council
Holidays Activities with Food Grant - winter 23
-
5,072
Sheffield City Council
Talk Di talk (Suicide prevention)
-
3,000
Sheffield City Council Local Area Committees
Coronation activities
-
250
Sheffield City Council Local Area Committees
New Years resolutions
-
500
Sheffield City Council Local Area Committees
Youth zone
-
2,696
Skipton Charitable Foundation
Skipton room
-
-
Social Enterprise Exchange
Make Dough
-
-
Social Investment Business
Make Dough
-
-
South Yorkshire Policy and Crime Commissioner
Esteem
-
-
South Yorkshire Police & Crime Commissioner
Galvanise Youth
-
4,405
South Yorkshires's Community Foundation
Moving On Up
-
5,000
South Yorkshires's Community Foundation
O18 YOUTH CLUB
-
7,473
Sported Foundation
Football session
-
500
Tesco Bags of Help
chef's circle
-
500
Tramlines Trust
Tramlines Party
-
-
VAS - Sheffield autism partnership network
small grants scheme
-
1,348
29,522
156,050
Expenditure on charitable activities
Unrestricted
Restricted
Note
Funds
Funds
£
£
Direct activity costs
4,137
51,994
Staff salary costs
5
102,904
91,428
Other staff costs
2,856
187
Accomodation
11,202
684
Professional fees
6,235
-
Communications & IT
3,751
-
Insurance
1,447
-
Marketing & publicity
-
-
Depreciation
1,310
-
Grants/donations out to other organisations
500
-
Bank charges
1,750
-
Administration
5,863
657
Independent examination
6
1,110
-
143,065
144,950
Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
Salaries and wages
Employer's National Insurance
Employer's allowance
Employer's pension contributions
Redundancy
£60,000 - £70,000
The average monthly number of paid employees during the year was 8 (2022: 14). The actual monthly staff varies due to the
specific projects.The emoluments of employees who earned over £60,000 (excluding employer pension costs) during the year w		 Total
2023
£
-
29,522
-
10,000
-
-
9,931
-
35,681
2,000
-
-
20,000
5,210
42,484
5,072
3,000
250
500
2,696
-
-
-
-
4,405
5,000
7,473
500
500
-
1,348
185,572
Total
2023
£
56,131
194,332
3,043
11,886
6,235
3,751
1,447
-
1,310
500
1,750
6,520
1,110
288,015
extra staff t
ere within t		 Unrestricted
Funds
£
224,772
81,187
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
305,959
Unrestricted
Funds
£
38,543
226,195
10,873
7,999
4,437
781
1,376
280
1,310
2,036
1,278
12,685
1,740
309,533
aken on over th
he following ran		 Restricted
Funds
£
-
-
1,000
10,500
2,895
3,408
-
9,999
-
-
1,988
10,000
-
-
-
-
-
-
-
-
2,545
4,999
15,329
9,005
-
-
-
-
-
1,000
-
72,668
Restricted
Funds
£
7,543
53,956
2,923
3,941
10,677
-
59
838
-
-
-
2,393
-
82,330
2023
£
170,302
15,536
(5,000)
10,600
2,894
194,332
2023
1
e summer for
ges:		 Total
2022
£
224,772
81,187
1,000
10,500
2,895
3,408
-
9,999
-
-
1,988
10,000
-
-
-
-
-
-
-
-
2,545
4,999
15,329
9,005
-
-
-
-
-
1,000
-
378,627
Total
2022
£
46,086
280,151
13,796
11,940
15,114
781
1,435
1,118
1,310
2,036
1,278
15,078
1,740
391,863
2022
£
253,745
21,798
(5,000)
9,608
-
280,151
2022
-
delivery of

4 Expenditure on charitable activities

The above included a lump sum for accrued holidays not taken. During the year pension contributions on behalf of these employees amounted to £4,139.

The trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

13

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Notes to the Accounts (continued) For the year ended 31 December 2023

5 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel (continued)

The key management personnel of the charity comprise the trustees and the Chief Executive Officer. The total employee benefits (including employer pension contributions and employer NI contributions) of the key management personnel of the charity were £68,128 (2022: £54,857).

6 Fees payable to Independent examiner's organisation

Independent examination
Taxastion services
Other services
Tangible fixed assets
Cost or Valuation
As at 1 January 2023
Additions
Disposals
As at 31 December 2023
Depreciation
As at 1 January 2023
Charge this period
Disposals
As at 31 December 2023
Net Book Value
As at 31 December 2023
As at 31 December 2022
Investments
Cost or Valuation
As at 1 January 2023
As at 31 December 2023		 2023
2022
£
£
1,110
1,740
210
-
270
-
480
-
Fixtures,
fittings and
equipment
Total
£
£
15,793
15,793
-
-
-
-
15,793
15,793
11,862
11,862
1,310
1,310
-
-
13,172
13,172
2,621
2,621
3,931
3,931
Investments in
subsidiary undertakings
£
100
100

7 Tangible fixed assets

The charity holds 100 shares of £1 each in its wholly owned trading subsidiary MakeDough C.I.C, which is incorporated in the United Kingdom, registered company 14302135, registered office Yorkshire House, 66 Leopold Street, Sheffield, England, S1 2GZ. These are the only shares allotted, called up and fully paid.

The subsidiary was incorporated in August 2022 and the first set of accounts to be filed were made up to 31 August 2023. The summary of the financial performance of the subsidiary alone is:

Turnover
Cost of sales
Net profit/(loss)
Amount gift aided to the charity
Retained in subsidiary in the year
The assets and liabilites of the subsidiary as at the year end were:
Other current assets
Current assets
Aggregate reserves
Share capital
Profit and loss account
Debtors
Trade debtors
Other debtors		 period to 31 August 2023
£
£
3,354
(3,430)
(76)
-
(76)
24
24
24
100
(76)
24
2023
2022
£
£
760
99,373
-
5,006
760
104,379

14

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society Notes to the Accounts (continued) For the year ended 31 December 2023

10 Creditors: amounts falling due within one year

Trade creditors
Accruals
Other creditors
Other loans
Creditors: amounts falling due after move than one year
Other loans
Other loans are repayable as follows:
Within one year
Between one to two years		 2023
£
1,354
4,679
2,577
1,719
11,986
2023
£
-
-
1,719
-
1,719		 2022
£
789
6,407
4,075
1,875
16,832
2022
£
1,563
1,563
1,875
1,563
3,438

Other loans are unsecured and have a nil% rate of interest.

Aviva (Crowdfunder): Chef's circle
Sheffield City Council: Covid Memorial Fund
Arnold Clarke: Fun day
The Hedley Foundation: Outdoor days
The National Lottery Community Fund: Jubilee fun day
BBC Children in Need: Life Hack
Tramlines Trust: Tramlines Party
Westfield Health Charitable Trust: Building development
Sheffield City Council: Universal Youth Fund
Sheffield City Council Local Area Committees: New Years resolutions
South Yorkshires's Community Foundation: O18 YOUTH CLUB
Sported Foundation: Football session
Sheffield City Council: Holidays Activities with Food Grant - easter
Sheffield City Council: Holidays Activities with Food Grant - summer
Sheffield City Council Local Area Committees: Youth zone
Aviva (Crowdfunder): Learn Through Nature
The National Lottery Community Fund: Chillzone
South Yorkshires's Community Foundation: Moving On Up
South Yorkshire Police & Crime Commissioner: Galvanise Youth
Plan International: "Period Peers" pilot
The National Lottery Heritage Fund: Heritage Through Food: Roots to Table
VAS - Sheffield autism partnership network: small grants scheme
Sheffield City Council Local Area Committees: Coronation activities
Sheffield City Council: Talk Di talk (Suicide prevention)
Tesco Bags of Help: chef's circle
Sheffield City Council: Holidays Activities with Food Grant - winter 23
Skipton Charitable Foundation: Skipton room		 Brought
forward
£
14,958
1,988
780
3,164
9,715
9,378
1,356
1,000
3,865
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
46,204		 Income
£
-
-
-
-
-
10,000
-
-
-
20,000
500
7,473
500
5,210
42,484
2,696
917
9,931
5,000
4,405
2,000
35,681
1,348
250
3,000
500
5,072
156,967		 Expenditure
£
(13,562)
(1,988)
(780)
(3,164)
(9,715)
(9,585)
(294)
(1,000)
-
(16,223)
-
(2,160)
-
(5,210)
(42,484)
(2,696)
-
(9,445)
(5,000)
(5,185)
(2,000)
(8,772)
(1,348)
(250)
(1,840)
-
(2,249)
(144,950)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Carried
forward
£
1,396
-
-
-
-
9,793
1,062
-
3,865
3,777
500
5,313
500
-
-
-
917
486
-
(780)
-
26,909
-
-
1,160
500
2,823
58,221

All key restricted fund activities are discussed in the trustee annual report.

15

Docusign Envelope ID: F4B60290-607D-4203-9F09-1B870D45CE19

Element Society

Notes to the Accounts (continued) For the year ended 31 December 2023

12
Restricted funds (continued)
Prior year comparative
Aviva (Crowdfunder): Environmental work
Co-op Community Fund: Blue Dot - MH Workshops
Aviva (Crowdfunder): Chef's circle
Sheffield City Council: Covid Memorial Fund
Co-op Foundation: Building development
Sheffield City council: Dragon's Den 2021
South Yorkshire Policy and Crime Commissioner: Esteem
Arnold Clarke: Fun day
The National Lottery Community Fund: Jubilee fun day
South Yorkshire's Community Foundation - TamponTax fund: Girls Collective
Sheffield City council: Homework Club
The Hedley Foundation: Outdoor days
Sheffield City Council: Suicide Prevention Fund
BBC Children in Need: Life Hack
Aviva Community Fund: Life Hack
Social Investment Business: Make Dough
South Yorkshire Policy and Crime Commissioner: Gangs Research
South Yorkshire's Community Foundation: Red Light 2
Soil Association: Cook & share
Skipton Charitable Foundation: Skipton room
Social Enterprise Exchange: Make Dough
Tramlines Trust: Tramlines Party
Westfield Health Charitable Trust: Building development
Sheffield City Council: Community Covid Response Grant - round 3
Sheffield City Council: VCS recovery fund
13
Net assets by fund
Tangible fixed assets
Net current assets
Creditors of more than one year		 Unrestricted
Fund
£
2,721
121,096
-
123,817		 Brought
forward
£
4,800
-
-
-
4,817
500
3,670
-
-
423
783
-
2,500
7,511
1,992
5,028
1,033
2,685
150
-
-
-
3,865
673
-
40,430
Restricted
Funds
£
-
58,221
-
58,221		 Income
£
-
2,895
16,959
1,988
-
-
9,005
1,000
9,999
-
-
3,408
-
10,500
-
15,329
-
-
-
2,545
4,999
1,000
-
-
10,000
89,627
Total
2023
£
2,721
179,317
-
182,038		 Expenditure
£
(4,800)
(2,895)
(2,001)
-
-
(500)
(12,675)
(220)
(284)
(423)
(783)
(244)
(2,500)
(8,633)
(1,992)
(20,357)
(1,033)
(2,685)
(150)
(1,189)
(8,293)
-
-
(673)
(10,000)
(82,330)
Unrestricted
Fund
£
4,031
223,517
(1,563)
225,985		 Transfers
£
-
-
-
-
(4,817)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,294
-
-
-
-
(1,523)
Restricted
Funds
£
-
46,204
-
46,204		 Carried
forward
£
-
-
14,958
1,988
-
-
-
780
9,715
-
-
3,164
-
9,378
-
-
-
-
-
1,356
-
1,000
3,865
-
-
46,204
Total
2022
£
4,031
269,721
(1,563)
272,189

14 Related party transactions

A close family member of one trustee was employed during the year. The individual concerned earned £18,130 (2022: £13,293). The related trustee did not vote on any remuneration decisions.

A close family member of the CEO was paid for bookkeeping work during the year. The individual concerned was paid £1,860 in the year.

There were no other related party transactions during the year.

16