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← South Sheffield Community Initiatives Ltd

2024-03-31-accounts

Company registration number: 06570187 Charity registration number: 1159717

South Sheffield Community Initiatives Ltd

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

For the year ended 31 March 2024

South Sheffield Community Initiatives Ltd Contents

Page
Legal and administrative information 1
Trustees’ annual report (incorporating the Directors’ report) 2- 6
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the accounts 10 - 14

South Sheffield Community Initiatives Ltd Legal and administrative information For the year ended 31 March 2024

Registered Charity Number

1159717

Registered Company Number

06570187

Trustees

Mr S G Bodey Mr R D Butters Mr J M Dunning Resigned 19 November 2023 Mr S Hicks Mrs K A Wilson

Company secretary

Mr S G Bodey

Registered Address 7 Greenfield Road Sheffield S8 7RQ

Accountants

Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH

1

South Sheffield Community Initiatives Ltd Trustees’ annual report (incorporating the Directors’ report) For the year ended 31 March 2024

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2024 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

The company was incorporated on 18 April 2008 and is constituted by its Articles and Memorandum of Association as amended by special resolution on 17 April 2015. The company is limited by guarantee and therefore has no share capital.

The company became a registered charity on 23 December 2014.

Organisational structure

All strategic and governance issues are dealt with at trustees’ meetings. These were held bi-monthly during the year. Day-to-day operational issues are managed by monthly meetings of the session supervisors. To ensure good communication between the strategic and operational groups, Kathryn Wilson, Steve Hicks and Steve Bodey attend both meetings.

There is now 1 paid worker who started work on 1[st] March 2023 and works 6 hours per week as a cleaner.

Risk assessment

The Charity has no loans to third parties and no employees. The main risk to the Charity is the day-today running costs of the library. The Charity signed a lease on the library from the landlord, Sheffield City Council, in March 2019. The lease ended in March 2024 so the trustees have exercised their option to renew the lease for a further 25 years. The notice was served on 6[th] June 2023 and completion is expected to happen in the near future.

This is a full-repairing lease so any significant unexpected maintenance issues pose an additional risk. In addition, the Charity is responsible for the costs of all compliance testing and also of any consequential works. The charity continues to be affected by the high cost of gas and electricity. The trustees have sought to mitigate against this by agreeing new contracts at reduced rates and other practical measures.

Recruitment and Training of Trustees

The charity’s policy in respect of recruitment of directors is that anyone who is supportive of the Objects of the company would be eligible to be a director of the company always provided that their appointment is in accordance with the clauses 39 to 44 of the Articles of Association of the company. The company does not have a specific training programme for directors but will rely on using the services of specialist training providers to meet specific training needs as and when required. New directors will follow our internal trustee induction.

2

South Sheffield Community Initiatives Ltd

Trustees’ annual report (incorporating the Directors’ report) - continued For the year ended 31 March 2024

Objectives and activities

The objects of the Charity are to provide or assist in the provision of facilities in the interest of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disability, financial hardship or social circumstances with the object of improving their conditions of life.

The trustees have given due regard to guidance published by the Charity Commission in respect of public benefit when fulfilling the objectives of the Charity.

The Charity meets its objectives by running Jordanthorpe Library as a community hub, a safe space at the heart of the community open to all. In addition to the traditional core services of a library, we provide the following services and activities:

----- Start of picture text -----
 8 public computers  Printing, copying & scanning  Refreshments
 Citizens’ Advice service  School visits  Craft groups
 Pre-schoolers’ StoryTime  Table-top Games group  Cross-stitch group
 Providing weekly recipe packs in partnership with local food bank
 Provision of food and activities in school holidays
 Provision of a venue for other organisations’ services/courses
----- End of picture text -----

Achievements and performance

One of our values has always been to be a safe, welcoming space at the heart of the community. It was therefore an easy decision to register as a Welcome Space to provide a warm meeting place and free hot drinks to help support those struggling with the Cost of Living crisis. This has continued and the trustees intend to continue with this for the foreseeable future.

As planned in last year’s report, a new library session on Thursday afternoons was launched in October 2023. This means that the library is now open for 3 hours per day 6 days a week.

The year in view saw the largest footfall in our 10 years of running the library with 18,821 visits. This compares with 8,649 for the year ending 31[st] March 2022 and 12,658 for the year ending 31[st] March 2023 and surpasses our previous highest figure of 17,800 in 2019-20.

The Trustees have maintained the provision of services available last year but have also continued to seek new ways of providing services and support to people in the local community. Key successes include:

3

South Sheffield Community Initiatives Ltd

Trustees’ annual report (incorporating the Directors’ report) - continued For the year ended 31 March 2024

Achievements and performance (continued)

This has all been achieved by our committed team of volunteers who have continued to give their time and energy so generously. The Trustees would like to thank our tireless team of volunteers for their support through this challenging period.

Financially, the accounts reflect another positive year. Much of our income is by way of grants to support our core costs as well as specific projects such as Digital Inclusion and the Holiday Activities and Food programme. Income from our own services and fundraising has also increased as customers have returned to the library.

The main sources of income during the year include:

The Trustees are also grateful to those from the local community who have continued to donate books to improve the library book stock or second-hand items to help raise funds.

4

South Sheffield Community Initiatives Ltd Trustees’ annual report (incorporating the Directors’ report) - continued For the year ended 31 March 2024

Plans for the future

The trustees, in partnership with local businesses, led on an application to the Economic Recovery Fund in Sheffield in July 2023, which would have resulted in a project to improve Jordanthorpe Centre. Unfortunately, our application was not successful but discussions continue to find alternative ways of making improvements. At the time of writing, plans have been drawn up, a consultation with local businesses and members of the public has taken place and the delivery will be running until Spring 2025.

The Trustees were approached by a local charitable group, “Friends of Batemoor Park” (FBP), who asked to come under the umbrella of the Charity. Following due diligence, the Trustees accepted FBP’s request. As of 1[st] April 2024, FBP became part of SSCI Ltd which will enable it to continue its work improving the facilities in Batemoor Park with charitable governance provided by SSCI.

We will also develop new groups and activities in the Library to benefit the local community. We will also continue to identify ways we can support local people through the Cost of Living crisis – particularly high energy costs.

Reserves Policy

In light of the prevailing high inflation rate, the Trustees have revised the free reserves target for the charity to £18,000 which is the running costs of the library for 12 months. This is to ensure that the library can continue to operate should it need to find alternative core funding.

Free reserves are defined as general funds after the above designated funds have been set aside, but excluding the accounting value of fixed assets as these are required for the running of the charity. Free reserves as at 31 March 2024 were £27,974 (2023: £29,907).

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:

5

South Sheffield Community Initiatives Ltd Trustees. annual report lincorporating the Director< report) - continued Forthe year ended 31 March 2024 Trustee5' responsibilities in relation to the financial sL*ements (continued) 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 complywith 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 preventton and detection of fraud and other irregularities. Thetrustees are responsible forthe rna1ntenan￿ and integrlty of the charltyand financial Information included on the charitws website in accordance with legislation in the United Kingdorn 8overnin8 the preparation and dissemination of financial statements. Small company provisions: This report has been prepared in accordance with the special provisions relating to small companies, subject to the small companies, regime within Part 15 of the Companies Act 2006. Approved by the board nd signed on its behalf bv: Mrs G Bodey Dirertor

Independent examinerfs report to the directors of South Sheffield Community Initiatives Ltd (%he Companrf) I report to the Charity dirertors on my examination of the accounts of the Company forthe year ended 31 March 2024. Responsibilities and basis of report As the directors of the Company you are responsible forthe prepardtion of the accounts in accordance with the requirements of the Companie5 Act 2(K)6 ( the 2006 ACY). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2(K)6 Act and are eligible for independent examination, I report in respect of my examination of your companvs accounts as carried out under sertion 145 of the Charities Act 2011 { the 2011 ACY). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) Ib) of the 2011 Act. Independent examinerfs ststement I have completed my examinatlon. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 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 otherthan 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 wlth 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). I have no concerns and have come acr055 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: SC(￿h Susan Cochrane. FCA DChA Seven Hills Accountants Limited 57 Burton Street Sheffield S6 2HH Date: 011111£02L

South Sheffield Community Initiatives Ltd

Statement of financial activities

(incorporating the income and expenditure account) for the year ended 31 March 2024

Unrestricted
fund
£
Income from:
Grants
2
-
Donations
753
Projects
-
Room hire
572
Library services
704
Other services
753
Fundraising
3,600
Total income
6,382
Expenditure on:
Establishment costs
6,383
Post and stationery
9
Professional fees
192
Independent Examination
570
Other running expenses
2,389
Depreciation
3,957
Total expenditure
13,500
Net income/(expenditure)
(7,118)
Transfers
1,978
Net movement in funds
(5,140)
Reconciliation of funds:
Total funds brought forward
48,738
Total funds carried forward
43,598		 Restricted
funds
£
26,299
-
-
-
-
-
-
26,299
11,760
-
-
-
14,164
-
25,924
375
(1,978)
(1,603)
19,416
17,813		 2024
Total
£
26,299
753
-
572
704
753
3,600
32,681
18,143
9
192
570
16,553
3,957
39,424
(6,743)
-
(6,743)
68,154
61,411		 Unrestricted
fund
£
1,000
803
5,995
880
543
324
2,733
12,278
710
115
120
474
6,925
5,276
13,620
(1,342)
1,758
416
48,322
48,738		 Restricted
funds
£
15,873
-
-
-
-
-
-
15,873
16,528
-
-
-
479
-
17,007
(1,134)
(1,758)
(2,892)
22,308
19,416		 2023
Total
£
16,873
803
5,995
880
543
324
2,733
28,151
17,238
115
120
474
7,404
5,276
30,627
(2,476)
-
(2,476)
70,630
68,154

The statement of financial activities includes all gains and losses recognised in the year. All of the charitable company's operations are classed as continuing.

8

South sheffield Community Initiatives Ltd Balance Sheet As at 31 March 2024 2024 2023 Total Total Flxed assets Tan￿ble assets 11,874 15A31 Current assets Debtors Cash at bank and in hand Total current assets 1.354 53.257 54,611 1.438 53,715 55.153 Creditors: amounts falling due within one year (5,074) 12.830} Net current assets 49,537 52.323 Total assets less I￿rrent Ilabllltles 61,411 68,154 Creditors: amounts falllng due after one year Total net assets 61AII 68.154 Represented bv: General funds Designated funds Total unrestricted funds Restricted funds Totsl charityfunds 39,848 3,750 43,598 17,813 61NII 45.738 3,Crf)O 48,738 19,416 68.154 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit'in accordan￿ with section 476 of the Companies Act 2(M)6. 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. The accounts have been prepared in accordance with the speaal provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006. Approved by the board on and signed on its behalf by: Mrs G Bodey Director

South Sheffield Community Initiatives Ltd

Notes to the Accounts

for the year ended 31 March 2024

1 Accounting Policies

(a) Basis of preparation

South Sheffield Community Initiatives Ltd 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 £1 per member of the charity. The address of the registered office is given in the company information on page 1 of these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006. The financial statements have also adopted Charities SORP (FRS 102) Bulletin 1 and have taken the exemption not to prepare a cash flow statement.

The charity meets the definition of a public benefit entity as defined under FRS102. The financial statements are presented in sterling which is the functional currency of the charity and are rounded to the nearest £1.

(b) Income

Income is recognised in the SOFA when the charity has entitlement to the funds, any performance conditions attached to the monies have been met, the receipt of the income is probable and its amount can be reliably measured.

Funding for projects is recognised when the charity has entitlement to the funds, any performance conditions attached to the projects/grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

(c) Expenditure and liabilities

Expenditure is recognised where there is a legal or constructive obligation to pay a third party, it is probable that settlement will be required and the amount of the obligation can be reliably measured. All expenditure is reported gross of irrecoverable VAT.

(d) Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off cost of those assets , less their residual value, over their expected useful lives on the following basis:

Fixtures, fittings and equipment 25% reducing balance

(e) 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.

(f) Trade debtors

Trade debtors are amounts due from customers for 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 effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

(g) Trade creditors

Trade creditors are obligations 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 charity 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 after 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 effective interest method.

(h) Fund accounting

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 unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are either donations which the donor has specified are to be solely used for particular areas of the charity's work or grant income sought for specified activities.

10

South Sheffield Community Initiatives Ltd

Notes to the Accounts - continued for the year ended 31 March 2024

1 Accounting Policies - continued

(i) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. 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. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(j) Taxation

The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Acts. Accordingly, there is no taxation charge in these accounts.

2 Income from Grants

Unrestricted
fund
£
Sheffield City Council
-
Holiday Activities with Food Grant
South Local Area Committees
-
The Terminus Initiative
-
Stewardship
-
-
Fees to independent examiner's organisation
Fee for independent examination		 Restricted
funds
£
11,655
14,644
-
-
-
26,299		 2024
Total
£
11,655
14,644
-
-
-
26,299		 Unrestricted
fund
£
-
-
-
-
1,000
1,000		 Restricted
funds
£
13,611
-
1,500
762
-
15,873
2024
£
570		 2023
Total
£
13,611
-
1,500
762
1,000
16,873
2023
£
474

3 Fees to independent examiner's organisation

There were no other fees payable to the independent examiner's organisation during the year.

4 Tangible fixed assets

Cost
As at 1 April 2023
Additions
As at 31 March 2024
Depreciation
As at 1 April 2023
Charge this period
As at 31 March 2024
Net book value
As at 31 March 2024
As at 31 March 2023		 Equipment
£
34,780
-
34,780
18,949
3,957
22,906
11,874
15,831		 Total
£
34,780
-
34,780
18,949
3,957
22,906
11,874
15,831

11

South Sheffield Community Initiatives Ltd

Notes to the Accounts - continued for the year ended 31 March 2024

Prepayments
Creditors: amounts falling due within one year
Accruals
Designated funds
Property improvements		 Balance
b/fwd
£
3,000
3,000		 Income
£
-
-		 Expenditure
£
-
-		 2024
£
1,354
1,354
2024
£
5,074
5,074
Transfers
£
750
750		 2023
£
1,438
1,438
2023
£
2,830
2,830
Balance
c/fwd
£
3,750
3,750

6 Creditors: amounts falling due within one year

7 Designated funds

Property improvements

The trustees have determined that various property improvements are necessary and have designated funds for this work.

Prior year
Property improvements		 Balance
b/fwd
£
10,515
10,515		 Income
£
-
-		 Expenditure
£
-
-		 Transfers
£
(7,515)
(7,515)		 Balance
c/fwd
£
3,000
3,000

12

South Sheffield Community Initiatives Ltd

Notes to the Accounts - continued

for the year ended 31 March 2024

8 Restricted funds

SCC Library Service Grant - Books
SCC Capital Grant
SCC Associate Libraries Grant
Digital Inclusion
Reach
SCC Device Loan Scheme
Holiday Activities with Food Grant		 Balance
b/fwd
£
3,227
10,000
-
437
752
5,000
-
19,416		 Income
£
1,000
-
10,655
-
-
-
14,644
26,299		 Expenditure
£
(731)
-
(10,655)
-
(370)
(1,067)
(13,101)
(25,924)		 Transfers
£
-
-
-
(437)
-
(153)
(1,388)
(1,978)		 Balance
c/fwd
£
3,496
10,000
-
-
382
3,780
155
17,813

SCC Library Service Grant - Books

This grant was received towards the cost of purchasing books.

SCC Capital Grant

Grant awarded to contribute towards developing extended space provision for private meeting rooms.

SCC Associate Library Grant

Grant awarded as a contribution towards library running costs.

SCC Digital Inclusion

Grant funding to contribute towards a tailored project to provide a training package to help to get people digitally engaged.

Reach

Grant awarded to fund volunteer training and development.

SCC Device Loan Scheme

Grant awarded for the purchase of laptops and tablets to open up digital access to library users.

Holiday Activities with Food Grant

Funding to provide enriching holiday activities with healthy food during school holidays.

Prior year
SCC Library Service Grant - Books
Library Defibrillator
SCC Capital Grant
SCC Associate Libraries Grant
Digital Inclusion
Reach
SCC Device Loan Scheme
Welcome Space		 Balance
b/fwd
£
2,156
-
10,000
-
4,350
802
5,000
-
22,308		 Income
£
1,500
1,458
-
10,655
760
-
-
1,500
15,873		 Expenditure
£
(429)
-
-
(10,655)
(4,373)
(50)
-
(1,500)
(17,007)		 Transfers
£
-
(1,458)
-
-
(300)
-
-
-
(1,758)		 Balance
c/fwd
£
3,227
-
10,000
-
437
752
5,000
-
19,416

13

South Sheffield Community Initiatives Ltd

Notes to the Accounts - continued for the year ended 31 March 2024

9 Analysis of net assets by fund

Fixed assets
Net current assets
Previous year comparison
Fixed assets
Net current assets		 General
fund
£
11,874
27,974
39,848
General
fund
£
15,831
29,907
45,738		 Designated
funds
£
-
3,750
3,750
Designated
funds
£
-
3,000
3,000		 Restricted
funds
£
-
17,813
17,813
Restricted
funds
£
-
19,416
19,416		 Total
2024
£
11,874
49,537
61,411
Total
2023
£
15,831
52,323
68,154

10 Trustee remuneration and out of pocket expenses

No trustee received remuneration for their services. No trustees received reimbursed expenses during the year (2023: £Nil).

11 Related Party Transactions

There were no other disclosable related party transactions during the year, except those disclosed in note 10.

14