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2022-03-31-accounts

CITY CHURCH SHEFFIELD PERIOD 1[ST] APRIL 2021 TO 31[ST] MARCH 2022 CHARITY NO: CIO - 1184975

TRUSTEES’ REPORT AND ACCOUNTS

INDEX TO ACCOUNTS
CONTENTS:
2-3 Trust Information
3-8 Trustees Report
9 Independent Examiners Report
10 Statement of Financial Activities
11 Balance Sheet as at 31 March 2022
12-20 Notes to the Accounts
21 Detailed Statement of Financial Activities with Comparatives

TRUST INFORMATION

STATUS A Charitable Incorporated Organisation (CIO) (Charity Registration No: 1184975) TRUSTEES Liam Maxwell (Chair) Steven Thomas Paul Haine (retired in 3[rd] November 2021) Lauren Lugasan (retired in 11[th] June 2021) Jen Richardson (started in Nov) Clara Mukuria (started in Nov)

ELDERS & PASTORS Daniel Maton (Lead Elder) Christopher Chart Richard Owen CHURCH OFFICE The Jubilee Centre Wilson Road Sheffield S11 8RN CHURCH WEBSITES www.citychurchsheffield.org.uk REGISTERED ADDRESS The Jubilee Centre Wilson Road Sheffield S11 8RN INDEPENDENT EXAMINER Stewardship 1 Lamb’s Passage London EC1Y 8AB BANKERS Yorkshire Bank plc 157 Bradfield Road Sheffield S6 2LY

CAF Bank 25 Kings Hill Ave Kings Hill West Malling Kent ME19 4JQ

Page 2

OTHER RELEVANT ORGANISATIONS:

The Evangelical Alliance 186 Kennington Park Road London SE11 4BT

ChristCentral Churches PO Box 7736 Derby DE1 0RY

CHARITY HISTORY

The CIO was formed in 20[th] August 2019 and was later merged with City Church Sheffield Trust in June 2020. The Trust was constituted by a Declaration of Trust dated 18 July 1996 and there was a formal change of name from Walkley Baptist Church by Supplemental Deed dated 3 January 1999. The Board of Trustees administers the charity and the Elders are the governing body of the church. The governing document that the charity operates under is the CIO constitution written in 2019.

OBJECTIVES OF THE CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021

OBJECTS

The primary aims of the CIO are to fulfil the role of a Christian Church in the Sheffield area and to provide help to others in promoting the Christian faith in the United Kingdom and overseas.

THE CHURCH: ITS AIMS AND OBJECTIVES

A church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ were also committed to love and care for each other and to bring a blessing to the area in which they lived. City Church Sheffield - its trustees, elders and members - are committed to living out these New Testament principles. By doing this, our expectation and experience is that Sheffield is a better place as a result of our activities. In other words, significant public benefit is produced through City Church loving the people of Sheffield and living out what the Bible says. It is not alone in this, as many churches in the area, country and throughout the world are living out their joyful knowledge of Jesus Christ. Our vision is to see many people of Sheffield come into this experience of knowing Jesus as their Lord, Saviour and friend.

Page 3

City Church Sheffield is a member of the Evangelical Alliance , and has a long standing supportive relationship with ChristCentral Churches and Newfrontiers : Christian organisations which pursue similar objectives in the UK and overseas.

Directions relating to the CIO are made by the Trustees, in consultation with the Elders who are responsible for governing the life and teaching of the church. Day to day decisions on expenditure and activities are decided by the staff and volunteers in charge of different areas of the church, with budgets set and monitored by the Trustees. New Trustees are selected from the members of the church so that the Trustee body is wholeheartedly involved in seeing the mission of the church worked out in practice.

On appointment, new Trustees spend time with the existing Trustees to ensure they understand their responsibilities and the legal and financial framework within which the church operates as well as completing relevant training courses, and reading and understanding the induction material that has been prepared for them.

The church employs 7 members of staff, although the expectation is that every member of the church, whether employed or not, helps make the difference in the church achieving its ‘great commission’. This is done by ‘being salt and light’ amongst the people they interact with every day; by praying, by visiting the sick and supporting others in need, by involvement in training and encouraging others, in public teaching and worship, and also in administration. The financial resources of the church, to a very large extent, are given by the members and their private assets and equipment are regularly used in the work of the church. Much of this work is done privately, without recognition, and the hours and value of that time cannot be quantified.

THE YEAR: ITS OBJECTIVES AND ACHIEVEMENTS

During the year ended 31 March 202 2 the main ways the church sought to achieve the calling of Christ upon it and its charitable purposes for the public benefit were:

The teaching, preaching and discipleship programmes are primarily aimed to help people develop a lifestyle following the teaching of Christ: to love God and your neighbour as yourself. Our Sunday meetings were in person but also broadcast online . These meetings attracted anywhere between 250 and 400 in person, up to 40 people live online, and subsequently 100-200 people viewing online after the event. . Those involved in regular midweek meetings through the year amounted to around 250 adults.

Page 4

Page 5

Statement of Public Benefit

The Trustees have complied with the duty under the Charities Acts to have due regard to the public benefit guidance published by the Charity Commission. Our assessment is that the above makes a positive impact on the people of Sheffield and beyond. Between them the activities listed, improve community relationships; help families be more cohesive; increase the level of key skills for church members and clients of our services; alleviate poverty and hunger; as well as train and inspire the next generation to live lives that make a positive impact on society.

PLANS FOR THE NEW YEAR

We continue to plan and pray about increasing the impact of our Hubs across the city, including starting to meet in their local areas on Sundays. We are restructuring our leadership teams in order to help the church be better prepared and able to deal with any future growth. We are taking a look at our building, the Jubilee Centre, to consider how it can be better used for the community and for the church.

FINANCIAL & RISK REVIEW

Financial Review

Overall income for the year was £368,089, comparable with the whole previous financial year (2020-21: £462,727). Expenditure in this period was £412,725, more than £403,380 across the whole previous financial year.

RESERVES

The financial reserves of the Church have been at a suitable level throughout the year. The Trustees have set a policy of retaining reserves sufficient for the foreseeable needs of the Church. Where there is specific capital expenditure foreseen, amounts are set aside into designated funds so the free reserves (General Fund reserves excluding amounts invested in assets for the church’s use) are available to meet the costs of normal running and expansion of the Church and to ensure the Church can meet the commitments that have been entered into. The level of minimum reserves continues to be £30,000. At the yearend the unrestricted cash was in excess of this policy at £67,000. More information on this is available in our Reserves Policy.

Page 6

GRANT MAKING POLICY

Gifts to external organisations and individuals are considered by the Trustees on the basis of need and fulfilment of the charitable objectives. There are no upper or lower limits of support Much of this is done through the Support Fund and its established process and checks (see above for more information).

RISK MANAGEMENT

All major insurable risks are subject to normal Churches and employers’ insurance. Contractual risks are reviewed before being entered into, to assess that they could not significantly impact upon the Churches ability to fulfil its objectives. Risks are reviewed on a quarterly basis by the Trustees in conjunction with staff and volunteers responsible for the area of activity. When a new project starts, a specific risk assessment is completed and fed into the wider risk management process. We have specific processes and teams in place for key risk areas such as Safeguarding, and Health and Safety. We have external input and support from ThirtyOne:Eight on Safeguarding, and broader support from Stewardship on many issues including Risk Management. Last year we undertook an audit of our Safeguarding arrangements and plan to continue to implement the recommended changes in the coming year. This coming year we will be also implementing the recommendations of our internal review of our risk management strategy.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources for the financial year. In preparing these financial statements, the trustees are required to: -

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

Approved by the Board of Trustees and signed on its behalf

on: 11 December 2022

by: Liam Maxwell

LIAM MAXWELL (CHAIR OF TRUSTEES)

Page 8

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

CITY CHURCH SHEFFIELD ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2022 on pages 10 to 21 following, which have been prepared on the basis of the accounting policies set out on pages 12 to 13.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

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 Charity as required by section 130 of the Act; or

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

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

I have no 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.

Archie McDowall

Archie McDowall BA CA Institute of Chartered Accountants of Scotland

Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 16 December 2022

Page 9

CITY CHURCH SHEFFIELD

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations
3
Charitable activities
4
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Funds
£
335,998
12,958
19
348,974
386,108
386,108
(37,135)
(358)
(37,493)
756,028
718,535		 Restricted
Funds
£
19,116
-
-
19,116
26,616
26,616
(7,501)
358
(7,143)
20,315
13,172		 Total
Funds
2022
£
355,113
12,958
19
368,089
412,725
412,725
(44,635)
(0)
(44,635)
776,343
731,707		 Total
Funds
2021
£
456,670
6,047
10
462,727
403,380
403,380
59,348
-
59,348
716,995
776,343

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 12-20 form part of these accounts.

Page 10

CITY CHURCH SHEFFIELD

BALANCE SHEET

AS AT 31 MARCH 2022

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Stock
9
Debtors
10
Cash at bank and in hand
11
CREDITORS: Amounts falling
due within one year
12
Net current assets / (liabilities)
Total assets less current liabilities
TOTAL NET ASSETS
FUND BALANCES
14
Unrestricted Funds
General funds
Designated funds
Pension reserve
Revaluation reserve
Restricted Funds		 Unrestricted
Funds
£
611,061
611,061
50
16,101
95,385
111,536
(4,062)
107,474
718,535
718,535
690,150
28,385
-
-
718,535
-
718,535		 Restricted
Funds
£
-
-
-
4,007
9,165
13,172
-
13,172
13,172
13,172
-
-
-
-
-
13,172
13,172		 Total
Funds
2022
£
611,061
611,061
50
20,108
104,550
124,708
(4,062)
120,646
731,707
731,707
690,150
28,385
-
-
718,535
13,172
731,707		 Total
Funds
2021
£
630,378
630,378
30
9,045
140,837
149,912
(3,947)
145,965
776,342
776,342
743,785
12,243
-
-
756,028
20,315
776,342

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

Liam Maxwell

--------------------------------------LIAM MAXWELL (CHAIR OF TRUSTEES)

Date: 11 December 2022

Charity number: 1184975

The notes on page 12-20 form part of these accounts.

Page 11

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Statutory Information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Change of legal structure

The charity (the 'CIO') was dormant until 1 June 2020 and, until that date, the CIO's activities were undertaken by a trust with the same name (City Church Sheffield Trust with charity registration number 1057560). On 1 June 2020 the trust transferred its net assets and its activities to the CIO. As permitted by the Charities SORP, this transfer has been accounted for as a merger because it qualifies as a charity reconstruction (whereby the charity has simply changed its legal form). In accordance with the requirements of merger accounting, the net assets of the trust were transferred at book value, not fair value, to the CIO. These financial statements present the results of the CIO only for the year ended 31 March 2022 and the comparatives are the combined results of the trust and the CIO for the year ended 31 March 2021. More information about the merger is given in note 16 'Use of merger accounting'.

b) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

c) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income from the bookshop, which is no longer in operation.

Investment income represents income generated by the charity's assets and includes income from bank interest.

Page 12

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

2 Accounting Policies (continued)

d) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

e) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

f) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land and buildings Over 50 years after taking account of the building's residual value Fixtures, Fittings and Equipment Over 5 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

g) Stocks

Stocks of donated items held for distribution to beneficiaries are measured at fair value.

h) Pension scheme arrangements The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

i) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

j) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive)

k) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

l) Critical accounting estimates and areas of judgement ln preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:

Page 13

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

3 Donations

Donations of cash and similar
Donations in kind
Income tax recoverable
4
Income from charitable activities
Church retreats and events
Reimbursement for services provided to Christ Church Central
Income for rental of premises
5
Charitable expenditure
a
Costs incurred directly on specific activities
Salaries
Staff expenses
Ministry support
Conferences & subscriptions
Church events
Pastoral fund
Food bank
Distribution of donated goods
Grants payable (note 5c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Water & insurance
Cleaning & janitorial
Heat, light & phone
Postage & stationery
Repairs
Sundries
Depreciation
Catering & refreshments
Literature, music & promotional
Equipment
Total expenditure		 2022
£
292,602
120
62,391
355,113
2022
£
3,756
7,975
1,227
12,958
2022
£
262,912
4,640
479
16,807
500
15,688
-
100
301,125
37,014
338,139
2,650
430
3,080
5,925
2,822
11,669
2,425
15,057
4,522
20,628
2,886
625
4,947
74,585
412,725		 2021
£
381,252
3,211
72,207
456,670
2021
£
514
5,255
278
6,047
2021
£
260,339
2,409
975
16,400
600
13,670
908
5,570
300,871
51,550
352,421
3,600
1,056
4,656
5,067
1,015
7,455
2,163
7,219
1,092
20,584
343
732
632
50,958
403,380

The fee payable to the independent examiner for preparing and examining the accounts was £2,650 (2021: £3,600); in addition the charity paid £150 (2021: £150) to Stewardship for consultancy services.

Page 14

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

5 Charitable expenditure (continued)

c Grants payable

Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Christ Central Churches
Stepping Stones
S6 Foodbank
Emmanuel Brighton
Grants to institutions for less than £1,000 each		 Institutions
£
37,014
-
37,014
Institutions
£
38,301
12,649
50,950		 Individuals
£
-
-
-
Individuals
£
600
-
600
2022
£
29,694
6,025
-
-
1,295
37,014		 2022
£
37,014
-
37,014
2021
£
38,901
12,649
51,550
2021
£
30,276
6,025
12,649
2,000
-
50,950

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

The average monthly number of employees during the year was 7 (2021: 7). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees, the Elders, Church Administrator and Treasurer. During the year key management received employment benefits totalling £215,007 (2021: £208,329).

No trustees received employment benefits in either the current or preceding year.

7 Acting as agent

On occasion the charity receives money on behalf of other charities, which it banks and then pays out to these charities. This income is received as agent for these other charities and the income, and the related payments, are excluded from the Statement of Financial Activities; any money that has not been distributed by the year end is recognised as a creditor.

During the year the charity acted as agent for a number of individuals in financial hardship, and acted as agent in order provide anonymity to those giving the funds to relieve poverty and, in that capacity:

Page 15

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

8 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Accumulated depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
9
Stock
Donated goods
For distribution to beneficiaries
10
Debtors: falling due within one year
Tax recoverable
Other debtors
11
Cash at Bank and in Hand
Cash at bank with immediate access
Petty cash
12
Creditors: liabilities falling due within one year
Trade creditors
Accruals		 Freehold
Property
£
950,776
950,776
325,733
19,016
344,748
606,028
625,043		 Fixtures,
& fittings
£
146,661
146,661
146,661
146,661
-
-		 Equipment
£
20,406
1,311
21,718
15,072
1,612
16,684
5,033
5,334
2022
£
50
50
2022
£
16,101
4,007
20,108
2022
£
104,478
72
104,550
2022
£
1,412
2,650
4,062		 Total
2022
£
1,117,843
1,311
1,119,155
487,466
20,628
508,093
611,061
630,378
2021
£
30
30
2021
£
9,045
-
9,045
2021
£
140,767
70
140,837
2021
£
347
3,600
3,947

13 Pension commitments

During the year employer’s pension contributions totalling £22,256 (2021: £22,017) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2021: £nil).

Page 16

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

14 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Major Improvements
Site Fund
Stepping Stones
Future Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Christ Church Central
Newday main event
Support Fund
Community assistance
Zambia
Ukraine
Doxecology Concert
Endless Joy Album Launch
Aggregate of funds		 Opening
balance
2022
£
6,688
5,555
-
-
12,243
743,785
756,028
-
-
18,980
585
750
-
-
-
20,315
776,343		 Incoming
resources
2022
£
-
-
-
-
-
348,974
348,974
4,243
492
8,903
-
4,580
347
384
167
19,116
368,089		 Outgoing
resources
2022
£
(10,540)
(245)
(6,025)
(1,696)
(18,507)
(367,602)
(386,108)
(4,243)
(220)
(15,688)
(105)
(5,105)
(347)
(739)
(170)
(26,616)
(412,725)		 Transfers
in the year
2022
£
23,330
3,598
6,025
1,696
34,649
(35,007)
(358)
-
-
-
-
-
-
355
3
358
(0)		 Gains and
losses
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2022
£
19,478
8,907
-
(0)
28,385
690,150
718,535
-
272
12,195
480
225
-
-
0
13,172
731,707

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

ysis of net assets by fund
assets and liabilities of the various funds were as follows:
Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
611,061
50
16,101
67,000
28,385
(4,062)
690,150
28,385
Unrestricted Funds		 Restricted
funds
£
4,007
9,165
13,172		 2022
£
611,061
50
20,108
104,550
(4,062)
731,707

Page 17

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

14 Funds (continued)

In the previous year the movements in the charity's funds were as follows:

Designated Funds
CIO Conversion
Special Opportunity to Give
Major Improvements
Site Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Christ Church Central
Newday main event
Support Fund
Stepping Stones
Foodbank food fund
Community assistance
Zambia
Jubilee Money Training Fund
Aggregate of funds		 Opening
balance
2021
£
1,182
1,369
8,132
5,555
16,238
693,437
709,674
-
590
-
-
5,918
752
-
60
7,320
716,995		 Incoming
resources
2021
£
-
-
-
-
-
410,257
410,257
6,861
-
32,650
-
9,444
-
3,515
-
52,470
462,727		 Outgoing
resources
2021
£
(1,182)
(1,369)
(1,444)
-
(3,995)
(353,904)
(357,898)
(6,861)
(600)
(13,670)
(6,025)
(15,332)
(168)
(2,765)
(60)
(45,481)
(403,380)		 Transfers
in the year
2021
£
-
-
-
-
-
(6,005)
(6,005)
-
10
-
6,025
(29)
-
-
-
6,005
-		 Gains and
losses
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2021
£
-
-
6,688
5,555
12,243
743,785
756,028
-
-
18,980
-
-
585
750
-
20,315
776,343

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Stock
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
630,378
30
9,045
108,279
12,243
(3,947)
743,785
12,243
Unrestricted Funds		 Restricted
funds
£
20,315
20,315		 2021
£
630,378
30
9,045
140,837
(3,947)
776,342

Designated Funds

The CIO conversion Fund

For project managing the conversion from City Church Sheffield Trust to the new legal entity.

The Special Opportunity to Give Fund

A separate, designated fund is maintained in response to the appeal made during the year, with income used to fund certain designated giving and costs.

The Major Improvements Fund

Acts as a regular internal savings account for major building works.

The Site Fund

Acts as a regular internal savings account for general site maintenance and equipment replacement.

Page 18

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

14 Funds (continued)

Stepping Stones

Supporting the Asha project, which runs HIV/AIDS clinics/support in Mumbai, India. Asha is part of Stepping Stones Charitable Society. This was previously a restricted fund, but no longer receives any specific income.

The Future Fund

Acts as an internal savings account to hold unbudgeted receipts into unrestricted funds and allow for future unbudgeted e pendit re

Restricted Funds

Event Funds

Separate restricted funds are used to record income/expenditure relating to specific events (ie Bears’ Camp, Church Weekend Away, Student Weekend Away, Newday Main Event and Newday Leaders’ Weekend). These are events are primarily run on a costrecovery basis. Any shortfall in event costs are reimbursed by way of a transfer from the General Fund.

Christ Church Central

A special collection to support the work of Christ Church Central

Support Fund

A new fund in the year with money raised used for small grants and loans to those in need. This is a need particularly resulting from the impact of Covid 19.

Jubilee Food Bank Food

Used to record income and expenditure of cash and donations in kind for direct onward support of Food Bank clients.

Community Assistance Fund

Helping members of the local community (usually clients of Jubilee Food Bank or Jubilee Money) with small grants to assist with utility bills (top-up vouchers purchased).

Zambia

Supporting out reach work in Zambia. The money raised is given to Christ Church Central who orchestrate the work.

Jubilee Money Training

Fund used to track income/expenditure relating to the training of new volunteer Debt Advisers for Jubilee Money.

Ukraine

Fund used to support work in Ukraine. The money raised is given to Christ Church Central who adminster the gift to partners in Ukraine.

15 Transactions with related parties

During the year the charity:

During the year the charity also made the following payments to, or for, related parties:

Except as disclosed above and in note 6 ('Analysis of staff costs'), there have been no other transactions with related parties during the year.

Page 19

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

16 Use of merger accounting

As explained in note 2(a) 'Change of legal structure', a Trust (City Church Sheffield Trust with charity registration number 1057560) transferred its net assets and its activities to this charity (the 'CIO') on 1 June 2020. The provisions of merger accounting were used in the preparation of the financial statements for the year ended 31 March 2021. Therefore, the comparatives in these financial statements present the combined results of the Trust and the CIO for the year ended 31 March 2021. The CIO did not undertake any transactions prior to 1 June 2020 and had no assets or liabilities before the transfer.

The results for the year ended 31 March 2021 can be analysed as follows:

Total income
Total expenditure
Net income / expenditure
Other gains and losses
Net movement in funds		 Trust
£
70,138
(57,248)
12,889
-
12,889
pre-merger		 CIO
£
-
-
-
-
-
pre-merger		 Combined
Charity
post-merger
£
392,590
(346,131)
46,458
-
46,458		 Combined
total
£
462,727
(403,380)
59,348
-
59,348

16 Use of merger accounting (continued)

The aggregate carrying value of the net assets of the respective charities at the date of the merger, were as follows:

Net assets
Represented by:
Unrestricted funds
Restricted funds		 Trust
£
729,884
717,043
12,841
729,884		 CIO
£
-
-
-
-		 Combined
total
£
729,884
717,043
12,841
729,884

Page 20

CITY CHURCH SHEFFIELD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 MARCH 2022

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Total Expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 General
Designated
2022
2022
£
£
335,998
-
12,958
-
19
-
348,974
-
367,602
18,507
367,602
18,507
(18,628)
(18,507)
(35,007)
34,649
(53,635)
16,142
743,785
12,243
690,150
28,385
Unrestricted funds		 Restricted
2022
£
19,116
-
-
19,116
26,616
26,616
(7,501)
358
(7,143)
20,315
13,172		 Total
2022
£
355,113
12,958
19
368,089
412,725
412,725
(44,635)
(0)
(44,635)
776,343
731,707		 General
Designated
2021
2021
£
£
404,200
6,047
10
410,257
-
353,904
3,995
353,904
3,995
56,354
(3,995)
(6,005)
-
50,348
(3,995)
693,437
16,238
743,785
12,243
Unrestricted funds		 Restricted
2021
£
52,470
52,470
45,481
45,481
6,989
6,005
12,994
7,320
20,315		 Total
2021
£
456,670
6,047
10
462,727
403,380
403,380
59,348
-
59,348
716,995
776,343

Page 21