2021-12-31-accounts

Reglstered Charlty Number: 1159)83 The Sheffield Firth Almshouses ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS For the year ended 31 December 2021

The Sheffield Flrth Almshouses Contents Corrtents P•8• Legal and admln15trèt(ve Inlomiatlon Trustees, annual report Independent examlner's report Statementof flnanclal actl¥ldes Balance sheet Notes to the attounts 9-15

The Sheffield Flrth Almshouses Legal and admln55tradve Inforn&itlon forthe year ended 31 December 2021 Full name Thè Sheffield Flrth ￿m$hOUse$ Other name5 by whlch the thorlty Is known The F￿rth Almshouses Firth's Homes Chortty number 1159083 Trustees John Gaunt Loulse Shleld Alan Card Bernard Webster Rlchard Lomas Patricla Nolleni Inee Whlthaml ar8aret Stoddard 8•rbara Doyle Jane Holmes Catherlne Ballév thalrn)an & f70vernance Group Governance Group Govemance Group Estate Group Estate Group Housln8 Allwatlon Gr￿￿P Housin8 Allocation Group Health. Safety and WelFare Group Healrh. Safety and Welfare Group 24 February 2022 Prlnclpal •ddr• No l Flrth Homes Nether8reen Road Sheffleld SII 7EG Indep•ndent Examlnor Susan Cochrane. FCA Employee of.. VAS Community Accountanc¥ The Circle 33 Rockin8ham Laftè Sheffield 514FW

The Sheffield Firth Almshouses Trustees, annual report For the year ended 31 December 2021 The trustees svbmit thelrannual report and the financial ststemer¢tsforthe year ended 31 Decernber 2021. The flnancial statements comply with the thartt￿$ Att 201. thegowernin8 document and the charities Statement ol Recornrnended Practice (applicab￿ to charities preparing their accounts in accordance with the Financial Reporting Standard applscable In the UK and RepublK of Ireland- FRS 1021 issued In October 2019. Strurture Go¥ernaKe & MaM8eThnt The organisation was registered as a Chafitsble Incorporated Organisation ICIOI wSth the alaréty Commlsslon on 5 November 2014 with charrty Thumbtr 1159083. It iS8overned by its Constitution. The charity wa5 originally founded in July 1869. Previously the organisation was 8ovemed under a Trust Deed dated 9 July 1869 as amended by the Chari¢y Commtsslon Scheme dated 27 Novembèr 2OJ7, charfly number 219116. The full 8oard of Trustees meets quartertyto plan and r￿sewthe functlon of the charlty. Trustees revlew and modify as necessèry the controls and strurturt of the organisation. whKh indudes four operational 5ub-8roups IGovernante Grtsup. Estate Group, Housln8Allocat6on Group and Health. Safety and Weware Group). The Chaiman is elerted every January In a¢¢ordan¢e with the constitution. The Trust employ5 a Salaried Clerk and a Resldent Warden throu8h competltlve recrullment and thdr wage Is r￿eWed at the Annual Bud8ei Plannlng meetlng. Th Governance comrnittet ttntinue to miewand update the Firth Homes. policles and procedures to ensure the effertlve runnln8 of the charTty- All Tru￿ee and G¢)vernance meetlngs In 2021 were held remotely due to the ￿￿d-19 pander￿( and 4$s￿lated restrirtions on gatherin¢& ObJt¢i% Ind •ttlbftles of tho ¢harlty The charitable objects are.. al To provlde housln8 accommodatk)n for men and women, r￿dertt In Sheffield who are O￿T 60 years and are In need, hardshlp or dISt￿$s. and bl such other charf(able Pufposesforthe benefft of the resldents asthe trustees decide. This charity owns an estatt of sheltèred actommodation for elderty peopbe who a￿ able to Ilve Independently. The Almshouse Trnst was founded in 1869. In 1970 the homes wert rebuilt wth twenty elght and lour bun8èlows. TheTrusta1rn5to prowdeits reshlentswith a secure. comfortable and happyenvitonmenL Facilities on the e5taie Include a laundry and community hall. The morale of residents Is also Imporrant to the Trustees and therefore a range of socill athitles are organi5ed and encourwd. Firth Homes 15 popular and ha5 a good reputatlon. Publlc Benefft The Trustees confirm that they have tomplied wr(h setuon 4 of the Charities Act 2￿6 by havln8 regard to the guidance and to the exercise of their duty to public benpfft under the obtrects of this charity. The Priority for Truxees is to manage available resources to achieve its charitable objectives in the ￿￿$t C05t efficient mar>nef whilst ensurin6 that there may be SUff￿ent provision to meet future challenges.

The Sheffield Firth Alm$h￿Se$ Trustees, annual report Itontinued) For the year ended 31 Decembor 2021 Summary ofth• maln a¢il¥liles and athle¥ern￿ year 2021 has a4aSn pro¥eTr to be challeiiglng dutto the hnpa¢t of the global ￿d-19 pandemlL A]1 netessary Pfecautions have been carried out at Firth Hornes to help protect the residents, thls has ItKluded the closure of communal areas for the majorlty of the year and the implementation of additional cleanin8 measures. Due to the closure of the Community Hall (from March 202￿ October 20211 the ieydents have not been able to participate in the usual ran8e of s¢xial attivitles that would have ordinarlly been Organ￿ed by the Warden and the resident-run soclal commfrttee. Regular contatt has been malntsiThed wlth the residents however, particularly during per￿sof lockdown and the approprklte communications have been sent io iesldents1Tr Ilne wlth the k8iest 8ovemment njlesand 8uldellne& The current resldents ai Firth Homes have adhered to the 8uldellne5 and as a tonsequence, to date, Flrth Homes has remained free from Covld-19. The¥e has h¢)wever been a confirmed case of Covid-19 In February 2022. The resldent In questloTh has followed the Go¥ernment guidelines on Isolation and the other resldents have been infonned and advised to follow the Govemment 8uldellnes If they have had ￿cent t1￿ tonta¢L The Re5Ident Warden lson site to respond immediatetyto all the security, malntenance and health ¢5sues that arise. The Warden Is notlfied of all emer8encles Ih•alth alerts and fire •￿mIs) many of whlch are outslde normal workln8 hour5. There were a total of nlne weeks durlnB 2021 Whe￿ • home wa5 ufiottupled and awattlnRa new resldent,. the overall oc¢upancy rate for the year was 99%. One home became empty in 2021 lollowing a move from the resident into rèsldential tare due io Intyeased Irallty and the Inabilltyto continue to Ilve Independentfy. ThSs vacant home has under8one refurbishment and ￿11 be avallable for a nèw resldent ln 2022. At the year-tnd thIrty￿rte homes were cKcupled by thlrty-three re51dents Ithère are two couples). There are currendy 24 female and 9 male residents, the mean average age of residents rèmains at 78 years. The tlrne and c05t of supportln8 re$6dentsto lfjve Independendy In the context of InLYeaslD8 re8ulation is a ¢hallen8e as 5UPPOrt redtstss du to ausierity within the local authority and communlty. The Trustee5 acknowledge the Jsslstance provlded by the Natlonal Almshouse Ass￿1•110n throu8h guldance and tralnlng at a local level and with lobbyln8 at a natSonal level aimed at sustsinin8 the fvtUTe of the charitable almshouse rnovement. The mzlority of intomt COM￿ from thè maintenance charge pald by re5ident5 on a monthfy basi5, all Incorne Is held in a cash account wlth a bank approved by Trustets and Ruaranteed by ihe Financial Services CompensatloAS Scheme. Trustees decided not to increase the malntenance contrlbution ftsr 2022 wtth the understandln8 that the residènts ha¥e experienced anothei dIffiW￿Year due to the Co¥id-19 pandemtc and the aM¢xiated resErlctions. To payforihe ongoing maintenance and upgrade of the estate. Incorne Is dedved from the investments In funds desi8ned for rnernber5 of the National Alm5hou5e kso¢Éation. Reg￿laT rnOnth￿ investments of £l(MJ) contlnue to be made Intothe In%stment& Through carefvl management all expenditure in 2021 was met without dr3win£ on reserves. The investments remain adequate and overall pertorm to the Trustee5 satisfactlon. The Trustees continue to rnonitor the finanLial SI￿allOn dosely and con5idef The Sheffield Firth Alrnshouse5 to be fiThancially resilient due to the adequate investmeTrts held in reserve and the surplus income which continuesto be generated from the Weekly maintenan￿ payments from the residents.

The Sheffleld Flrth Almshouses Trustees. annual report Icontlnued) For the year ended 31 December 2021 Surnmaryofth maln aclMil•s and •chknents dUrf￿the yar Icontlnuedl lrnprovements to the estate have induded the final cornpletion of the refrJrbi5hmentof the Community Hall and adjoining kitchen and laundrette and the upgrade of one Vacant home. A MechanKal VentIlat￿n wstem has been installed in one of the resideThYs hornes to over(ome issues ¥Mh conderssatirJTh and mould. Due to the Success of thi5 ￿ was also installed In the vacant flat and It has been decided thatthe systems will be Incorpofated into all future refurbishments. A landlord electricity suppty has also been Instslled In the halls io Ive the OPiSons of havtn8 a more advanced d￿r entry system In the future. These work5 were considered on a practical and Ilnancial basis with the overall mainlenaTh￿ and impro¥ementof thè estate in mind. The amount Invested the upgrdde oltht e5tste In 2021 £28,552. Serlo s Incldents In accord4nte wlth the 8uldance on the sublect,Trusteesdedare that dudngthe year there have been no "Serious incidents- or other mattersthat must be notified to the Charity Commlsslon. vr Relevant Insurances art malntalnod whlch Indude the property- trustee lfjabblity; employer's Indernnlty and publlc Ilablllty. The e510te wa5 revalued lo December 2019 ha¥ln8 been prevfjou5ty re¥alued In 2012 10 ensure the insured values are afttsrate. Insured sums are re-valued each year by the Insurer. Fknancknl revlew and re5er¥e5 poIILV Free reserves lunre5tricted re5erve5 not held as tangible fixed assets. associated mort8a8e or ffixed asset Investments) at 31 tkcember 2021 were £84.82912020.. £48.9231 Investments held were valued at £1,049.196 at theyearryend12020.. £915.8201. The reservès èrè rèvlewed qlbartedy and mainialned In attordance wtth the 8uidelines and Investments commended by the Natlonal Almshouse Associatlon. The sums held are considered proportional to the prolected cost of maintalnlng and developln8 the estate In the foreseeable future. Trustee5 seek to bulld a level of re5erbw that15 not cffily adequate to meet foreseeab￿ exptndltUTè but to also provlde a margin proportlonate to the risk that is in￿e￿nt In any investment. Up8radin8 each home when it becomesempty has cost about £13,CW however material and labour costs have increased significanily in recent tirnes and it has been decided to inclvdethe install of a mechanical ventilation system to future upgrades $0 the future c05t is estimated to be approximately £17.C(Q per flat. Abwt 16 homes have stlll to be up8raded 1£272,1J)01. and this is unlikely to be completed before 2026. does not incl¢Jde the kn'icher*5 which are Current￿ satisfartory. E5timate5 5u8ge5t that rNooffinB within the next years could cosi £4CK).COJ at current prices. It is 20 years slnce the kf(chens were refvrblshed and these may need to be refitted from about 2029. Reserves are 3150 Used to fUr￿,￿On4CcornmC￿a1Iofi support. to our residents sych as the provision of a Community Hall and Guest Room.. the laundry.. the pendant alamis wLwn by each resident etG Since the charity holds a hvdh level ol fixed asset inVest￿nts, which may be freely spent on Ihe above 5mproveMen￿ the Trustees do not consider r( necessary to spe(ify a minirnum level of reser¥es required. The Trustees will set suth a tsreet as and when the majority of thefixed asset investments have been spenL

The Sheffield Flrth Almshouses Tyustses. annual rewt Icontlnued) For the year ended 31 DKember 2011 An•nd•l revlew and resoms p¢ll¢y l¢orrtlnu•dl These costs would be funded fromthe foll¢)win8 5ryI￿e$, in thk5 Order. as required: Net a35tts exrluding investments 2. The sale of additional fixed a55et investmentsff requlred 84.829 1.049.196 Total as at 31 December 2021 1.134.025 Further addltlonal fvndlng be secured as 3 loan against thè property, If wulred. The trustees declare that thry approved the twstees. report behalf of the trustees by.. and $18ned On J Gaunt Chalrman

Independent Examlnerfsreporttothetrusteesof Thesheffield Flrth AIms1￿￿Se$ I￿￿£harth￿l I report to the trustees on my elaminat￿n of the accounts of The Sheffield Firth Alm$hou5e5 Ithe Charity) for the y2ar ended 31 December 2021. RgspoDSlbHltte5 and basl$of f•port As the charliy trustees of the Trust you are responslble for tho preparatlon of the accounts In accordance with the requirements of rhe Charltles Act 20111'the A￿tr. I reporr In fftspert ol my examlnatlon of the Charlty's accounts carrfed out undor sectlon 145 of the 2011 Act and ir carryingout my ex8mination I have followed all thehppllcable Dlrectlons 8iven by thChariiy Comm5sslon und@r sÉ¢ilon 14515llbl of the Act. I have completed my exarnination. I confirm that no mÈterio1 matter5 come to my attention in ¢onne¢tion ¥￿th the examlnation 8ivin8 me ¢au5e to belle¥e that in any materlal respect.. accountlng recc)rds were not kept in iespe¢t of th• Charlty as rEqulred by sectlon 130 of the Act,. the 8¢¢OUnts do not accord wilh those records,. or the accounts do not comply wlth the èppllcable requlremenis concernln8 the form and Content ol ac¢ount5 set ovt In the Charitie5 IAc¢ount5 Jnd Rcportsl Re8ulaflons 2008 otherthan ony requlrement thatthe accounts 8lv9 • Yru• and falrf vlew whlch Is not a matter consldered is Portof in Independenr examlnation. I havo no eoncerns ind htve Came 4¢r05s no other matter5 In connectl¢n wifh the exarnlnatlon to whlch attentlon should be drawn In thls rèport In order to enablE a proper understandins of the ￿￿O￿ttts to be leached. Slqned Suson Cochrane FCA Employe¢ of Voluntary Actlon Sheffiold Communlty AccO￿ntonLY Servlc¢ The Clrcle 33, Rockln8ham Lane 5hefiield SI 4FW Oate.. zg ltsi£¢ VASCommUDNy ACCo￿￿￿£Y

The Sheffleld Firth Almshouses ststernent of Hnanc5al Actlvltles Forthe yearto 31 December 2021 Total Total 2010 fvr fvrK Incomefrom: Charltable actfvitles Investments 155,341 155341 30J73 150.673 36.557 30373 Totsl IKom• 155J41 30,373 185.714 187,2XI Expendlturq on: Chorltoble acti¥ltles 78.197 30.373 108,570 121.224 Tot4 ¢xpendlture 7&197 IA73 108J70 121,224 N•t Incomellexpendtturel boforn n•t plnsllh755uI on 66.006 Net BalnsllkiM•sl on In¥estments 91.Ll)3 91.LW)3 165,0121 N•t Incom•ll•¥p•nthw•l 168.147 168.147 994 Tran5fer5 belween fvnds N•t mo¥•m•rt In funds 168.147 164147 rotal lunds broulhi foTh¥ard 1,021,486 1,021,486 1.020.492 T￿•1 lunds urrf•d lorw•ryl 1.189.633 L189,633 I,OZi,486 VASCommuThity ACC￿￿tantY

The Sheffleld Hrth Almshouses Balance Sheet As at 31 December 1021 2021 2020 xed A55ets Tangible Assets Investhients 55.6C 1.049,196 1.104.804 56.743 915,820 972,563 Curfent a55ets Debtors Cash at bank and In hand T¢)tsl ￿rr*nt ass•ts io 1,595 86,057 87,652 2.925 47,096 50.021 Credltor5'. amounts tslllnB due wfthlA othe ye¥r li 12.823 11,0981 N•t ¢uritni •ii•ts 84.829 48,923 Totsl •ss•fs ltsscurr•rtll•bl¥thes lJ89.633 L02L486 Totsl net •S5ets L189,633 1,021A86 FufidJ of the Charlty Unrestrlcted funds Deslgnated Funds 1,189,633 1,021.486 1,189.635 IP21A86 ThtTrustèés dtdafe thai theyhaye approved the ￿ounts Ibm on 5i8ned behalf of the Chartys tru5tees'. Name.. l Gaunt Namt.. Alan Card PosiUon- Chalmian TrLStee

The Sheffield Flrth Almshou%es Not¢st¢ the Am)unts Forthe yearto 31 Oe¢mber 2021 l Acfountln8 Polldes The Sheffield Firth AITrshouses is a Charhablo ifiwrptsratsd Oraanisatloft1001 re8i5tered in Em8land and wa￿$. The prinupal 3ddre55 ￿ No l Fith Homes, Nether8r￿ Road. Shelfiel¢ $117EG. lal Ba515 of preparatlon The fiTrancial ststements have been prepared in o¢¢fjldar￿ With knuntin8 and Reporting by Charltks.. Statement of Recotnmended Prxtlce applicable to tharrties preparÉrvx their a¢cwnts in accordance ￿th the Finanual Reportin8 Standard applicable in the UK and Republic ol Ireland IFRS 1021 i55ued on 16 Juhf 20141 as updated through u￿￿e Bulletln8 I publSshed on 2 February 20161,the Financial ReportiTrB Stsnd•rd applicable in the VK and Republic of IrelaAd IFRS 1021. the c￿ritIeS Art 2011 and UK Gerberalfy ￿￿pted Ac(ount6n8 Practice. The organ1s￿0Th has adopted Charltles SORP IFRS10218ulletln l and taken the eY£rnpt￿n to Prepa￿ a cashllow staternenL rhe charity mee15 the definition of a public benefft entity tsnder FRS 102. Assets and Ilabllltles are Irtltlally reco8n15ed at hlstori¢al (051 or transaction value unless otheTh¥lse stated in the reiednt accountln8 pol notes. The flnandal Statements are presented In sterfln8 whkh Is th¢ luKtknTral vJrrtr¢y of the tharlty. Monet•ry amunts in these flnzn¢l•l statements are rounded to the ne•rest £. Ibl Goln8 concern The ftnancial staternents have been pre￿red on a goi￿ concern b•sis asthetrustees belle¥ethat no matertal uncertalntles exlst. The trustees have considered the level ol lur￿5 he￿ and the expected level ol income and expendlturo lor 12 months frorn authorlslnB these ¥ccounis. The bud8eted income and expendriyrt Is Sul￿ent with Ihe level of re5eryes for the chorlty to be able to <ontlnue asa ¢oh¢em. Icl Income Income Is ￿0￿rI15ed when the charlty has entIt￿ment to the funds, irty performance condltions attKhed to the Iternl$l of Income have been rn￿, It ￿ probabk that the Income Trlll ￿ rece￿ed and the amount be measured rell•bly. R•sldents contrlbutlon$ are accounted for durln8th•yt•rln whkh theYW•￿ owd. Interest on funds held on depDsIt is Intluded when recefv•ble and the amount ¢•n be measured relbbly by the charity,. thls Is normalty upon notificatlon of Ihe intere# paid or payable ty the bank. Dfvldtrtds are rec￿nISed once the dlwdend has been declared and notification h•8 been re(el%d ol the dl¥klend due. Th15 bs norm¥lty upon no￿ti￿¢￿ by tyjr Investment advisor of the diAdend yield of the kn¥estmeni portldio. Idl Exp¢ndlture and Ilablmd ExpendSturÈ is reco8nlsed Onc• there Is a legal or coThstrudi¥* obll8aUon to mke a payment to a thlrd ￿rty, h t5 prts￿bIe th3t selllemeot wlll be regulred and the ¥moumt of the obligaiksTh can be measured rellabhf. Irrecoverable VAT 1$ chor8ed as a ¢o$t agiinstthe attivltylor whith the eXpend￿urewa5 Incurred. Cyclical repairs and routine maintenance= the charity has establlshed a regular programme of tyclkal repairs and malntenance. Cosis are ch4r8ed to the StstemeTht of Fln4n¥al Actmues In the year in which ihey are inturred. lel Tan8W)It ftxed assets Housing propertie5'. Flrth's AlMsh￿jSe$were con5try¢red in the L￿eT partof the nkneteenth (entury¥nd there is no rfford of the original Cost and no value Is attributed thÈrÈto. The housln8 propErtie5 Cost relates to the wn5tructlon In 1970 of replacement unlts. ThSs was funded by o Houslng Assoclatscffj 8rnnL a rrK)rt83ge loan from Sheffield ¢Jty Council and from Flrth's Homes, own resour￿. Oepreclation is provided to write dovm the cost of h<w5in8 prnpertles In equal Irtsralments over thelr Èxpetted usefvl life of IC¥J year& VASCoMm￿rt¥kco￿Trts

The Shefflèld Arth AlM$h￿Se$ Notes to the Attounts Icfmtinuedl For the year to 31 Dqcember 2021 I AccoLbiYry Poll¢les (Con￿N￿dI lfj Flxed asset In¥¢stments Investments are a form of baslc flnanclal In#rumÈnt and are Initialty recoBntsed at their transaction valve and subsequently ￿￿3$ured 3t their fair Value as at the balan£e sheet dait using the closin8 quoted market price. The statement of financial activitles Include5 the net galnsand bjsses arising￿ revaluatlon and di5P05a15 throu8houttheye¥. 181 Rea115ed Kaln5 afKI105ses All 8ains and 10s5es are tsken to the Statement of FlnaThclal Actibfties •$ thty arise. Reallsed 8alThs and losse$ ON Investrnents are calculated as the dlfferen¢e between sales woceeds and thtyr openln8 carrying v•lue or their purchase value If acqulfed Subsequent to the first day of the fiThandal year. Ufiieallsed gains and 1055e5 are calculated as the differerKe between the falr value at the year end and their Car￿n& Value. Realised and unTealised inve5tmeTht gains aNd hsses Jre (ombined in the Ststement of Flnancial Acimtles. Ihl Cash 4nd ush equl¥aknts C•sh #nd ush qquivaknts compri50 cash on ha￿ and call d¢posfts, and other short.term hl8hhf Ilould Irwestments thgt Dre readi￿ convertlble to a known arnount ol cash and lie subhert to In Insl8nlficant change In value. 111 Trade Detstors Trède debtors •re recoln￿ed infjlialty at the trarssèttlon ylo. They art subsequentty meawred al •mortlsed tost usln8 the effectlve interest method. less p￿s￿n lor Impalrment. A pro¥ts¥Jn lor the Impalmieftt of trade debtor5 Is estsbllshed when there ts Objec￿¥t evidenct that the company will not be ab￿ to coUe¢¢ all •mounts due ac(ordln8 to the efiRJnal tern15 of the recelvables. Ul Tr•d• ¢r•dll¢>r5 Trade ereditor5 are obl1ga￿0Ths to pay for goods or seryKes that have been •C4uired in the ordlnary course of b￿sinesS Irorn suppllers. Accounts payable are dassthed ?$ Current Il•blllil•s If tht tharity dces not have a• unconditional right. It the end of the reportln8 perlod, to defer 5etNemeTrt of the (redttor for at IEast twelve rrnnths after the reporting date. If there Is an uneondllonal rfght to defer settkneN for at twehE ￿nthS after the reponin8 date, they are wesented as nonrfurrent Trade credltors are reco8nlsed InlU•lly tt the irnnsxiion prfcè and 5ubsequenily measured at omortlsed c05t uslni the effertivt Interest method. Ik) Fund •cCwn￿1 Unrestritted funds are dOn￿lOn$ and othu income retefvable or genemed for the oblKts of the or8an1$a￿0ffi wAthout further $Fec￿led purpose and art available as Beneral fund& Re5trirted funds areto be used for sp•tifi¢ wrpose5 as lakl down tytheJonor. De5nated funds are set •slde bythe charfty's trustee5 for a 5pocific purpose. 111 L•as•s Rentals payable under operatlnK leases are charged to Or￿￿e w • straizht I1￿bas￿O￿ th term of the lease. Iml Pensk¥ The rharity operate5 a defined contdbution PEn5iDn pLin for fs e￿￿loyee& Contributions io th¢ stheme are reco8n15ed when Ehey ale payable. In) c11tl￿1 accountlrq ¢S￿m￿e$ and I￿erne￿5 In the applic4tyoTh of the charity's arcoufitln8 polldes. Ihe In￿ee5 are requlred io make ludgements. estimatss and a55urnplions about the carryinB amount of assets and Ibabilibes that are not readily apparent from other sourtrs. The e5tirnates and ndertyln8 assumptions ar2 based on hlstorKal experlerKe and Oth￿ factors that are considered to be relevant Actual results may differ from these È#imates. The estimate5 and urbdedwr8 a%sumption5 are re¥iewed on an ongI￿nE ￿51s. Revi5Ions to accountln8 estlmates are ret08n1s￿ in the peri¢xl in which the estimate is r￿Sed when the re￿510n affects onty that period, or in the period of re*ision and fvture perknds wherethe redts¥Jn affects both curreThi and future pertods. VAS Comrnuntypuourtarty io

The Sheffield Firth Almshouses

Notes to the Accounts (continued)

For the year to 31 December 2021

2 Income from Charitable Activities

Unrestricted funds £ Residents contributions 153,837 Ground rents receivable 49 Solar energy receipts 1,455 155,341 2020 - fund split 150,673 Income from investments Unrestricted funds £ M&G Charity Multi Asset accumulation shares income accumulated - - 2020 - fund split -	Unrestricted funds £ 153,837 49 1,455	Designated funds £ - - -	Total 2021 £ 153,837 49 1,455 155,341 Total 2021 £ 30,373 30,373	Total 2020 £ 148,157 39 2,477
	155,341	-		150,673
	150,673	-		150,673
		Designated funds £ 30,373		Total 2020 £ 36,557
	-	30,373		36,557
	-	36,557		36,557

3 Income from investments

4 Expenditure on charitable activities

Premises Costs Staff costs - see note 7 Administrative Costs Depreciation Maintenance Costs Other Costs Support costs - see note 5 2020 - fund split Support costs Independent examination fee	Unrestricted funds £ 26,830 42,207 1,587 1,135 3,752 1,696 990	Designated funds £ - - - - 30,373 - -	Total 2021 £ 26,830 42,207 1,587 1,135 34,125 1,696 990 108,570 Total 2021 £ 990 990	Total 2020 £ 26,904 41,468 1,519 1,135 46,834 2,374 990
	78,197	30,373		121,224
	84,667	36,557		121,224
	Unrestricted funds £ 990	Designated funds £ -		Total 2020 £ 990
	990	-		990

5 Support costs

In addition to the independent examination fees, £277 (2020: £276) was paid to Voluntary Action Sheffield for payroll service which are included within administrative costs, note 4.

VAS Community Accountancy

11

The Sheffleld Flrth AIMshouss Notes to the Accounts IcoTrtlnuedl Forthe ye)rto 31 December 2021 Trustees recei¥￿￿ no remuneration ￿ this pericKI. There We￿ noexpens reimbursed totrustee5 duringthe year. 7 St¥ff Cost5 Numbers Toial Total 2020 41,165 3,478 13,4781 1,042 42207 40.583 3,193 13,1531 Employer's Nadonal Insuran Ernployrnent allowance Employv's Penslon ￿￿trIbUtIOn 41,468 No empl¢)yte received emolumentsol more than É60.1)J). Th?a¥era8e numberol empl¢}yeesduA￿ the y•ar wis 212020.. 21 8 T•n8lbl• Flx•d As*•ts wop•rtl CfjrtorV•l¥•¥on As at l January 2021 As •t al D•cemb•r 1021 113,485 113 86 04pr8clatlon A5 It l January 2021 Char8e thls pèrfod As at 31 De¢tmber2021 56.743 1,135 57.878 Nei Book V•ly• As at 51 D•¢•mb•r 2021 As at 31 O•ctmber 2020 Flrth's Alm5houst5 were constructed in the latter part gf the nlneteenth century and there15 no record of the orl81Th•l cost ind no value is attributed thereto. The housing properties com relates ttsthe c0Th5tructlon in 1970 of replacement units comprlsln8 0133 flats and bungalows. This was fvfided by a HousiTh8 A550csation 8rant of E15,(K(I, a mortga8e loan from Sheffield City Courtcll which ha5 now been repaid, and from Frrth's Homes. owrb resour¢es. 9 •ss•t Inwrtments 2021 2020 Movèment In fixed a55et155ted Invests Market Value blfwd It l J¥nuary 20ZI Add.. Addltksns Relnvested dlvidends Add/lle5sI= net 8ainllloss1 on revaluatlon Market value a5 at 31 December 2021 915,820 932,275 I2.(￿) 30,373 91,￿3 9,196 12.(M)O 36,557 915,820 The invettments¢ompristthe following atvaluknon.. 10.02112020-9.8991 M&G Charity Multi AwtAccumulation shares 1.049.196 1,049,196 915,820 915,820 VAS Communtypuounra 12

The Sheffleld Ftrth Atmshouses Note5to th¢ Accounts Icontlnuedl For the yèarto 31 December 2021 10 Debtors 2021 2020 PrepaymeTrts 1.595 1.595 2,925 2,925 11 Cr•dltots.' •m¢untsf•llln8 due wlthtnone y•w 2011 2020 Accruals 2.B23 2,B23 1,098 12 De￿￿&t•d funth B*l•nc• •t B￿￿￿te•t 31.Detr21 Extraordlnary ftepalr5 Fund 30.373 30,373 30,373 30.373 prtor yetjr qlonce ut Extroordlnory Repolrs Fund 36.557 Extraordlnary Rewlfs Fund$-th be used for the extraordlnary rep•lr. IMpro¥￿ntor1ebU1Id￿ngol ihe almshouses. VAS CommthkcDunl3 13

The Sheffield Firth Almshouses Notes to the Accourrts Imntlnuedl For the year to 31 December 2021 14 Net asstts byfw nd5 nds 2021 Tèngible a55ets Investments Net current assets 55,608 1,049,196 84,829 1,189,633 1.049.196 84,829 1189.633 Unrestrrted Designoted fvnds fvnds 2020 Prioryeor Taft¢lble 055ets Investments Netcurrent ossets 56.743 915,820 44923 56,743 915,820 48,923 1021486 IS Op•rln8 kns• ¢ommthents At 31 Deternber 2021 the charty had outst¥ndlw rommltmeTrts for fu￿re mlnln¥Jm le•se p•ym¢nts under non•n¢ellablt operatlng le•ses whith foll due 8$ fdknws.. 2020 wlthin cne year 929 929 16 Relat￿ Partytr•hM¢IIo There were no related partyiraTrsaLlfjons during theyearended 31 Ct*mber 2021 or 31 Dttember 2020. VAS c0mmunttykco￿trrLy 14

The Sheffleld Flrth Alms1￿ Not•s to th•Accouftts (contlnu￿) Fortheyearto 31 Dewiber 2021 17 Ststement Ol￿n•￿Ill Adi¥kn. Crnrnt fvn¢ts ChtsrftableArtfvttles Investments 15Q.673 150,673 36.557 36.557 rotulln(ornt 154673 557 187.230 EXpendI￿re M.. ChorftobleActl￿tI 84.667 36.557 121224 Totolexpendtturn 84,667 34557 12LZZ4 Iletlttcom¢/(¢pendltur•J Ner qt71ns/{lossesl on Investments (65,012) 165,012J Nrt1nrty￿(è￿pe￿dhWtj rronsftrs betenAu Netmov¢nwntknfvn4ts 994 Totttlfunds bmughtfvnwrd 1020,492 1020,492 Tot#lfvndJ ¢orrf¢dfvnth7nl 024486 021,486