Registered Charity Number: 1158802 Friends of Ecclesfield Library CIO Annual report and Unaudited Flnancial Statements For the year ended 31 March 2024
Friends of Ecclesfield Library CIO Contents Contents Page Administrative informatlon Trustees, Annual Report Accountants, report Statement of Financial Activities Balance Sheet Notes to the Accounts 9-14
Friends of Ecclesfield Library CIO Administrative inforniatlon For the year ended 31 March 2024 Trustees Victoria Bowden John Bowden Barbara Russell David Morton Andy Bainbridge Pamela Hamshere Bridget Kellv Susan Davidson Chair Appointed April 2018 Resigned October 2024 Appointed March 2021 Appointed Feb 2022 Resigned October 2024 Appointed Dec 2022 Appointed Dec 2024 Appointed Dec 2024 Treasurer Registered offi Ecclesfield A550ciate Library 113 High Street Ecclesfield Sheffield S35 9UA Charity number 1158802 Bankers Co-operative Bank Pinstone Street Sheffield SI 2HP Accountants Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH
Friends of Ecclesfield Library CIO Trustees. Annual Report For the year ended 31 March 2024 The Trustees of the charity submit their annual report and the financial statements forthe year ended 31 March 2024. The financlal statements have been prepared in accordance wlth the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicableto charities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). Structure. Governan and Management Friends of Ecclesfield Library {FoEL) is a reEiStered charity and constituted as a Charitable Incorporated Organisation (CIO). Approved by the Charity Commission and registered on 7 October 2014. FOEL'S Board of Trustees consists of a Chalr, and 5 Trustees. Appointment of Trustees The Trustees are appolnted on an annual basls, normally at the Annual General Meeting {AGM). They may hold the office {so long as they are re-elected at subsequent AGMS) for a maximum of 3 terms in succession. FOEL is managed by a committee of Trustees. The Board of Trustees has responsibility for the overseeing of FOEL and the running of Ecclesfield Library. The Board of Trustees normally meet bimonthly to receive and review the operating and financial reports, and to make strategic decisions to ensure that the charity continues to be a viable entity into the future. A minimum of three Trustees is required to form a quorum of the committee. The FOEL is run and governed solely by volunteers who recelve no remuneration or benefits to that effect. Our aim is to try to continue as a community led group. We currently have a full team of volunteers required to run the library operation effectively. The committee abides by FOEL'S constitution, which sets out all major governance procedures such a5 duties of Trustees, elections, annual and general meetings, and voting rights. Whilst the committee makes all major decisions, day-to-day management decisions for the library are made at a weekly Operational meeting. The Operational meeting has an open invite to all volunteers and is always attended by one or more of the Trustees. The operational meeting reports back to the Trustees and normally one of the Board members also works within the library each week. Therefore. the library is under the direction of these five Trustees. Overseen by the Trustees, senior volunteer5 and ex Trustees manage different responsibilities for aspects of the operation: from Health & Safety. GDPR through to recruitment. With support from the Team Coordinators. the Trustees manage a team of 20 front line and 5 5UPPOrt volunteers. The Library is now open for 17 hours per week. There are no paid staff. Volunteers are unpaid but can claim out- of-pocket expen5e5.
Friends of Ecclesfield Library CIO Trustees. Annual Report- continued For the year ended 31 March 2024 Charitable Aims and Objertlve5 The objective of the charity is to advance and promote education, in all its aspects, to the general public in Sheffield. particularly the area of Ecclesfield and it5 surrounds. The facility is open to all who have need, for whatever reason and regardless of their circumstances. These needs will be met particularly, but not exclusively, by a community-based library facility and associated services and co- operation with other organisations whose aims and objectives include those of the charity. The charity runs a community library at Ecclesfield which is free to all users. though there is a small charge for the loan of DVDS, for photocopying and printing. There is also the provision of education and activities for children, which include: Baby and Toddler weekly sessions for under-5s The Summer Reading challenge, involving around 80-100 children taking part, from pre-school children to age 12+ School visits from Ecclesfield Primary School. The aim remains to forge links with other local schools Craft Artivities in School Holidays Seasoned Themed Activities Children's Author Visits Readathon Imagination Gaming We also support: A monthly Wrlters Group Art Classes A Knit and Natter Group A History Group Computer Club Chairobics Classes With 28 volunteer5 and trustees, activities for children and adults. fundraising events and a welcoming building- a greater sense of a community is being built. FOEL will support the lifelong learning of our community to promote healthy living and lifestyle evolve the library in response to community need. provide space for local activities and groups such as Ecclesfield Willage History Group, Creative Writers Group and craft groups etc. provide a Spa for the local councillors to hold their monthly surgery provide a high-quality community library service, which nurtures a love of books, literature. and the arts.
Friends of Ecclesfield Library CIO Trustees, Annual Report- continued For the year ended 31 March 2024 Achievements and performance Fund-raising activities have taken place this year and the main grant that the charity receives from Sheffield City Council has continued. The focus of the Trustees is to continue to provide activities and events to encourage library usage . Grant Funding Sheffield City Council continues to support the library with the main grant of £9,336 which is for the upkeep and runnin8 of the library. The council also awarded an additional El,000 grant payment towards book stocks. Other grants were received as detailed in the notes to the accounts. Reserve5 Policy FOEL Trustees reviewthe financial risks associated withthe running of the libraryservice on an ongoing basis. It is library policy to ensure that sufficient reserves are kept in the charity bank account in order to meet any unforeseen expenditure that may occur. for example repalr or replacement of flxtures and fittings, and to help keep the library open for as long as p055ible after the main grant from Sheffield City Council finishes, if we have a shortfall in our fundraising activities. The minimum target for free reserves is £15,(M)O. As at 31 March 2024 free re5er4es of the charity total £55,443 (2023: £51,557) The Trustees will, over the coming year5, continue to focus on being financially self-sufficient through our own fundraising activities, in the event of Sheffield City Council not being in a position to continue tograntthe library a significant amount in future years. At the sametime, we must continue to refresh our own book catalogue and organise events and activities throughout the year, thereby encouraging the local communlty to use the Ilbrary. We will, wherever possible, apply for grants to assist with the costs. Trustee5' responsibilities In relatlon to the flnanclal statements The charity trustees 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 law applicable to charities in England and Wales requires the charity trustees to prepare financial statements foreach year which give a true and fairview of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently," Observe the methods and principles in the applicable Charities SORP; Makejudgements and estimates that are reasonable and prudent: State whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in busines5.
Friends of Ecclesfield Library CIO Trustees, Annual Report- continued For the year ended 31 March 2024 The trustees are responsible for keeping proper 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and 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. TheTrustees declare thatthey have approved theTrustees' Annual Report above on IIFloi IQS Signed for and on behalf of the Trustees by". Victoria Bowden Chair
Chartered Accountants. report to the trustees on the preparation of the unaudited statutory accounts of Friends of Ecclesfield Library CIO [which is a Charitable Incorporated Organisation] for the year ended 31 March 2024 In order to assist you to fulfil your duties under the Charities Act 2011. we have prepared for your approval the accounts of Friends of Ecclesfield Library CIO for the year ended 31 March 2024 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure Account), the Balance Sheet and the related notes from the charity's accounting records and from infomiation and explanations you have given to us. As a practising member firm of the Institute of Chartered Accountants in England and Wales {ICAEWI, we are subject to its ethical and other professional requirements which are detailed at htt u.www.icaew.comlen1membershi1.re iulationsstand3rds-and-.yuidance. This report is made solely to the trustees of Friends of Ecclesfield Library CIO, as a body, In accordan with the terms of our engagement letter dated 1010212023. Our work has been undertaken solely to prepare for your approval the accounts of Friends of Ecclesfield Library CIO and State those matters that we have agreed to State to the trustees of Friends of Ecclesfield Library CIO, as a body, in this report in accordance with ICAEW Technical Release 08116 AAF. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than Friends of Ecclesfield Library CIO and its trustees. as a body, for our work or for this report. You have approved the financial Information for the year ended 31 March 2024 and have acknowledged your responsibility for it, for the appropriateness of the financial reporting framework adopted and for providing all infonnation and explanatlons necessary for its compilation. You consider that Friends of Ecclesfield Library CIO is exempt from the statutory audlt requirement or Independent examination requirement for the year. We have not been instructed to carry out an audit or independent examination of the accounts of Friends of Ecclesfield Library CIO. For this reason, we have not verified the accuracy or completeness of the accounting record5 or information and explanations you have given to us and we do not. therefore, express any opinion on the financial statements. Signed SovorL HLUS hccounFcuib Seven Hills Accountants Limited Chartered Accountants 57 Burton Street Sheffield 56 2HH Date 2lloil£s
Friends of Ecdesfield Library CIO Statement of Financial Activities {incorporating the income and expendlture account) For the year ended 31 March 2024 Unrestrirted Restricted fund5 funds Total Unrestrirted 2024 funds Restricted funds Total 2023 Notes Income from: Donations and grants 1,166 14.939 16,105 1,025 11,236 12,261 Charitable activitie5 3,418 3,418 3,323 297 3.620 Investment income - bank interest 1,035 1,035 158 158 Total Income 5,619 14,939 20.558 4,506 11,533 16.039 Expendlture on: Charltable Activities 2,434 39,038 41,472 1,529 12,315 13,844 Total expenditure 2.434 39,038 41A72 1,529 12.315 13,844 Net Income/{expendlture} 3,185 (24,099) 120,914) 2,977 17821 2,195 Transfer between funds 439 14391 Net movement In funds 3,185 124,099) 120,914} 3,416 11,2211 2,195 Total fund5 brought forward 52,584 41.062 93,646 49,168 42.283 91,451 Total fund5 carrled forward 16,963 41,062
Friends of Eccle5field Ltbrary CIO Balance Sheet As at 31 March Z024 Total 2024 Total 2023 Notes Fixed assets 326 1,027 Current assets Debtors Cash at bank and in hand Total current assets 74,373 74,373 93,412 93,412 Creditors: amounts falling due wlthln one year {1,9671 (793) Net current assets 72,406 92,619 Total assets les5 current Ilabllltjes 72,732 93,646 Creditors: amounts falling due after more than one year Totsl net assets 72,732 93,646 Funds of the Charity Unrestricted funds Restricted funds Total funds 55,769 16,963 52,584 41.062 Approved by the Board on ... ....101 J. IXS . and signed on behalf of the board by: bct-vr Victoria Bowden Chair
Friends of Ecdesfield Library CIO Notes to the Accounts For the year ended 31 March 2024 l Accounting Policies (a) General The financial statements have been prepared in accordance with the Statement of Recommended Prattice: Accounting and Reporting by Charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Second edition), the Financlal Reporting Standard applicable in the United Kingdom and Republic of Ireland IFR5102) and with the Charities Act 2011. The financial statements have taken advanta8e of the exemption to prepare a Statement of Cash Flows. Friends of Ecclesfield Library CIO meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention with items recognised at Cost or transaction value unless otherwise stated in the relevant note(sl to the accounts. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £. (b) Income Income is recognlsed when the charity has entitlement to the funds, any performance conditions attached to the itemls) 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 reco8nised when the charity has entitlement to the fund5, any performance conditions attached to the grants have been met, it Is probable that the income will be received and the arnount can be measured reliably and is not deferred. Contract income 15 included in the period in which the service took place. {c) Expendlture and irrecoverable VAT Expenditure is recognised once there Is a legal or construrtlve obligation to make a payment to a third party, it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure wa5 incurred. (d) Cash and cash equlvalents Cash and cash equivalent5 comprise cash on hand and call deposits. and other 5hort-term hi8hly liquid investments that are readily convertible to a known amount of cash and are subjert to an insignificant risk of change in value. {e) Tangible fixed a55ets Depreciation has been calculated to write down the cost of all tangible fixed assets over their expected useful lives on the following basis: Equipment Furniture 3-10 years straight line 3 years straight line (fj Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effertive interest method, less provision for impairment. A provision for the impaimient of trade debtors is established when there 15 objective evidence that the company will not be able to collect all amounts due according to the original terms of receivables.
Friends of Ecclesfield Library CIO Notes to the Accounts (continued) For the year ended 31 March 2024 l Accounting Policies (continued) Ig) Trade creditors Trade creditors are obligation5 to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months fter the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effertive interest method. Ih) Fund accounting Unrestrirted 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. Restrirted funds are to be used for specific purposes as laid down by the donor. 11) Taxation As a charity, the organlsatlon 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. (J) Going concern The financial statements have been prepared on a goin8 concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the experted level of income and expenditure for 12 months from authorisin8 these financial statements. The bud8eted income and expenditure is sufficient with the level of reserves for the charity to be able to contSnue as a 8olng concern. 2 Donation$ and grants Unrestrlcted fund Restrlcted funds Total 2024 Total 2023 Sheffield City Council- Main grant Shefffield City Council- Ward Pot North LAC- Cost of Livingfund Sheffield City Council - Book fund Co-operative Community Fund St Mary's Lane Trust Donation5 9,336 787 2,5(Kl 1,000 904 400 12 9,336 787 2.51)0 9,336 1,500 400 1.178 41)0 1.025 1,166 1.166 14.939 16.105 12,261 In 2023 £1,025 was received into unrestricted funds and £11,236 into restricted funds. 10
Friends of Ecclesfield Library CIO Notes to the Attounts (continued) For the year ended 31 March 2024 3 Income from charitable activities Unrestricted funds Restrlrted fund5 Totsl 2024 Total 2023 Events and activities income Book Sales Photocopying, refreshment, yellow sticker and other income Room hire 2.542 2.542 2,526 61 943 90 701 175 701 175 3A18 3.418 In 2023 £3,323 was received into unrestricted funds and £297 into restricted funds. 4 Expenditure on charitable activities Unrestrlrted fund Restrlrted fund Total 2024 Total 2023 Premises Expenses Event and activities costs Books Council tax Elertricity & heating Water Telephone Refuse collection Cleaning Equipment Insurance Repairs and malntenance Le8al fees Printing, Postage and Stationery Refreshments Volunteers expenses. training & support Depreciation on fixed assets Administrative costs Accountants. fee Paypal fees 330 754 25,078 1.633 1,713 441 5.612 247 25,408 2,387 1,713 441 5,612 247 458 166 561 36 28 2,156 2.128 704 4.747 221 370 148 199 33 803 24 458 166 520 36 880 20 1,000 30 119 79 41 25 I,(M)O 48 331 79 1,067 526 18 212 341 275 84 945 270 360 1.067 526 480 2,434 39.038 41.472 13.844 In 2023 £1,529 was paid from unrestritted funds and £12,315 from restricted funds. 11
Friends of Ecclesfield Library CIO Notes to the Accounts (continued) For the year ended 31 Marth 2024 S Fixed assets Furniture Equipment Totsl C05t or Valuatlon As at 31 March 2023 Additions As at 31 March 2024 5.496 366 4,839 10,335 366 10,701 5,862 4,839 Depreciation As at 31 March 2023 Charge for the year A5 at 31 March 2024 4,525 1.030 5,555 4,783 37 4,820 9,308 1.067 10,375 Net book value As at 31 March 2024 307 19 326 As at 31 March 2023 971 56 6 Debtors 2024 2023 Trade debtors 7 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals 335 1,632 326 467 793 12
Friends of Ecclesfield Library CIO Notes to the Accounts (continued) For the year ended 31 Marth 2024 8 Restrirted funds Brought forward Carrled foThvard Income Expenditure Transfer SCC Grant- runnin8 COStS SCC- Book Grant St Mary's Trust Co-op grant SCC Ward Pot SCC Ward Pot 2 North LAC Cost of Living Fund SCC marketing grant 37,592 1,720 1.000 9,336 1.012 400 904 787 {34,986} (1,691} 11601 (261 11,942 1.041 1,240 878 787 400 325 350 400 2,500 12,1751 350 39,038 SCC Grant- runnin8 costs Thls fund was given towards the running costs and malntenance of the library. SCC- Book Grant This fund was received for the purchase of book stocks. St Mary's Trust Grant provided for improvements to the Childrens Llbrary. CMp yant Funding to help expand the number of chlldren's activities on offer durln8 1)oth term time and the summer holidays. SCC Ward Pot Funding to help develop the activities provided for children and to provide activities to 5UPPOrt digital inclusion such as computer courses for the elderly. Sheffleld City Council - Ward Pot 2 The funding was received to support artivities for local children and families or carers, thus contributing to community development by increasing the use of the library building. The openin8 balance represents a refund of activities that did not go ahead due to COVID 19 North LAC Cost of Uvlng Fund Funding provided to contribute towards the costs of keepin8 the community space open durin8 the cost of living crisis. SCC marketing grant This fund was recetved for marketing costs and towards readathon expenditure. 13
Friends of Ecclesfield Library ao Notes to the Accounts Icontlnued) For the year ended 31 March 2024 8 Restricted funds (contlnued) Prioryear Brought fonvard Income Expenditure Corned fornwrd Trnn5frr Sheffield City Council- Main grant Sheffield City Council- Ward Pot I Sheffield City Council- Ward Pot 2 St Mary's Trust Sheffield City Council - Book fund Sheffield City Council- Marketing grant 38,343 249 400 600 2.341 350 9.633 (10,194) (190) (249) 37,592 400 400 L500 (2,121) 1,720 350 439 9 Analysls of net assets by fund Unrestrlcted Funds Restricted Funds Total Fixed assets Current assets Current liabilities 326 57,410 11,9671 326 74,373 11,9671 16,963 55,769 72,732 Unrestrirted Restrfrted Funds Funds Prlor year Total Fixed assets Current assets Current liabilitie5 1.027 52,350 {793) 1,027 93,412 {793) 41.062 52.584 41.062 93.646 10 Trustee expenses and related party transaction5 No trustees received reimbursed expenses in the year12023: £nil). Friends of Ecclesfield Library received grant funding from Sheffield City Council of which Victoria Bowden. a trustee, is a councillor. This relationship is disclosed on the Sheffield City Council Register of interests as required by the Council's Code of Conduct for Members. No trustee was paid rernuneration for their role. There were no other related party transactions. 14