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2023-03-31-accounts

CITY CHURCH SHEFFIELD PERIOD 1[ST] APRIL 2022 TO 31[ST] MARCH 2023 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 2023 12-21 Notes to the Accounts 22 Detailed Statement of Financial Activities

TRUST INFORMATION

STATUS A Charitable Incorporated Organisation (CIO) (Charity Registration No: 1184975) TRUSTEES Liam Maxwell (Chair) Steven Thomas Jennifer Richardson Clara Mukuria ELDERS & PASTORS Daniel Maton (Lead Elder) Christopher Chart Richard Owen Blessan Babu (started in Jan) Benjamin Gibbins (started in Jan) Grant Riley (started in Jan) 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 Archie McDowall BA CA Stewardship 1 Lamb’s Passage London EC1Y 8AB BANKERS Virgin Money 157 Bradfield Road Sheffield S6 2LY Redwood Bank Ltd The Nexus Building Broadway Letchworth Garden City SG6 3TA

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OTHER RELEVANT ORGANISATIONS:

The Evangelical Alliance ChristCentral Churches 186 Kennington Park Road PO Box 7736 London Derby SE11 4BT 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.

OBJECTIVES OF THE CHARITY

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

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.

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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 2023 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 we continue to show recordings on YouTube in the days shortly after. We began meeting as 4 sites during the year. These site meetings happen on the first Sunday of the month in Shirecliffe, Hillsborough, Hunters Bar and Bradway.

Sunday meetings attract anywhere between 250 and 400 people in person, and online views of the meetings usually have 40-50 views on YouTube. Those involved in regular midweek small groups through the year amounted to around 250 adults.

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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 Sites across the city, including starting to meet more frequently 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 also looking 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 £411,591, an increase over the previous financial year (2021-22: £368,089). Expenditure in this period was £427,455, an increase over £412,725 in the 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 year end the unrestricted cash was in excess of this policy at £95,662. In view of the growing nature of the charity and the present economic

6

environment, the trustees are reviewing the reserves policy in the 2023-2024 financial year. More information on this is available in our Reserves Policy.

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, as well as annual review of key projects’ risk registers. 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.

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

7

safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees and signed on its behalf

on: 10 December 2023

Liam Maxwell by:

LIAM MAXWELL (CHAIR OF TRUSTEES)

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 2023 on pages 10 to 21 following, which have been prepared on the basis of the accounting policies set out on pages 12 to 14.

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: 13 December 2023

9

CITY CHURCH SHEFFIELD

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Total expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
Funds
£
370,522
17,844
1,859
390,224
406,559
406,559
(16,336)
(493)
(16,828)
718,535
701,707		 Restricted
Funds
£
21,367
-
-
21,367
20,895
20,895
472
493
964
13,172
14,137		 Total
Funds
2023
£
391,889
17,844
1,859
411,591
427,455
427,455
(15,864)
-
(15,864)
731,707
715,843		 Total
Funds
2022
£
355,113
12,958
19
368,089
412,725
412,725
(44,635)
-
(44,635)
776,343
731,707

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 12-21 form part of these accounts.

10

CITY CHURCH SHEFFIELD

BALANCE SHEET

AS AT 31 MARCH 2023

Note
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Stock
10
Debtors
11
Cash at bank and in hand
12
CREDITORS: Amounts falling
due within one year
13
Net current assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
15
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
592,256
592,256
75
17,825
95,662
113,562
(4,110)
109,451
701,707
667,956
33,751
701,707
-
701,707		 Restricted
Funds
£
-
-
-
2,100
12,037
14,137
-
14,137
14,137
-
-
-
14,137
14,137		 Total
Funds
2023
£
592,256
592,256
75
19,925
107,699
127,698
(4,110)
123,588
715,843
667,956
33,751
701,707
14,137
715,843		 Total
Funds
2022
£
611,061
611,061
50
20,108
104,550
124,708
(4,062)
120,646
731,707
690,150
28,385
718,535
13,172
731,707

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: 10 December 2023

Charity number: 1184975

The notes on page 12-21 form part of these accounts.

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CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

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) 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.

b) 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.

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

12

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

2 Accounting Policies (continued)

c) 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.

d) 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.

e) 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.

f) Stocks

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

g) 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.

h) 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

i) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

j) 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.

13

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

2 Accounting Policies (continued)

o) 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:

3 Donations

Donations of cash and similar
Donations in kind (note 3a)
Income tax recoverable
a
Donations in kind comprise:
Goods donated for:
Distribution to beneficiaries
4
Income from charitable activities
Church retreats and events
Reimbursement for services provided to Christ Central Churches
Income for rental of premises
5
Investment income
Bank interest		 2023
£
326,590
150
65,149
391,889
2023
£
150
150
2023
£
6,666
8,160
3,018
17,844
2023
£
1,859
1,859		 2022
£
292,602
120
62,391
355,113
2022
£
120
120
2022
£
3,756
7,975
1,227
12,958
2022
£
19
19

14

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable expenditure

a
Costs incurred directly on specific activities
Salaries
Staff expenses
Ministry support
Conferences & subscriptions
Church events
Pastoral fund
Distribution of donated goods
Grants payable (note 6c)
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		 2023
£
273,769
4,978
1,303
27,784
1,708
9,181
125
318,849
34,162
353,011
3,180
1,643
4,823
6,534
2,325
14,416
1,827
6,877
3,352
21,305
6,370
371
6,244
74,444
427,455		 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

The fee payable to the independent examiner for preparing and examining the accounts was £3,180 (2022: £2,650); in addition the charity paid £150 (2022: £150) to Stewardship for and consultancy services.

15

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable expenditure (continued)

c Grants payable

Grants payable
Grants for UK and overseas mission
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
Emmanuel Sheffield
Grants to institutions for less than £1,000 each		 Institutions
£
33,659
33,659
Institutions
£
37,014
-
37,014		 Individuals
£
503
503
Individuals
£
-
-
-
2023
£
26,334
6,025
1,000
300
33,659		 2023
£
34,162
34,162
2022
£
37,014
-
37,014
2022
£
29,694
6,025
-
1,295
37,014

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

The average monthly number of employees during the year was 7 (2022: 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, the Church Administrator and the Treasurer and the key staff named on the Charity Information page.

During the year key management received employment benefits totalling £222,972 (2022: £215,007).

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

8 Acting as agent

On occasion the charity receives money on behalf of other charities and individuals, which it banks and then pays out. This income is received as agent 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 and, in that capacity:

16

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

9 Tangible fixed assets

Cost
At 1 April 2022
Additions
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2023
10
Stock
Donated goods
For distribution to beneficiaries
11
Debtors
Trade debtors
Tax recoverable
Other debtors
Prepayments and accrued income
Total debtors
12
Cash at Bank and in Hand
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Petty cash		 Freehold
Property
£
950,776
-
950,776
344,748
19,016
363,764
587,012
606,028		 Fixtures
& fittings
£
146,661
-
146,661
146,661
146,661
-
-		 Equipment
£
21,718
2,499
24,217
16,684
2,289
18,973
5,243
5,033
2023
£
75
75
2023
£
17,474
2,451
19,925
2023
£
67,506
40,145
48
107,699		 Total
2023
£
1,119,155
2,499
1,121,654
508,093
21,305
529,398
592,256
611,061
2022
£
50
50
2022
£
-
16,101
4,007
20,108
2022
£
104,478
72
104,550

17

NOTES TO THE ACCOUNTS

CITY CHURCH SHEFFIELD

FOR THE YEAR ENDED 31 MARCH 2023

13 Creditors: liabilities falling due within one year

itors: liabilities falling due within one year
Trade creditors
Accruals		 2023
£
930
3,180
4,110		 2022
£
1,412
2,650
4,062

14 Pension commitments

During the year employer’s pension contributions totalling £23,084 (2022: £22,256) were payable to defined contribution personal pension schemes. No pension contributions were owing at the balance sheet date (2022: £nil).

15 Funds

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

Designated Funds
Major Improvements
Site Fund
Stepping Stones
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Christ Central Churches
Newday main event
Support Fund
Community assistance
Zambia Fund
Bears Camp
Aggregate of funds		 Opening
balance
2023
£
19,478
8,907
-
28,385
690,150
718,535
-
272
12,195
480
225
-
13,172
731,707		 Incoming
resources
2023
£
-
-
-
-
390,224
390,224
630
2,383
9,773
-
4,500
4,082
21,367
411,591		 Outgoing
resources
2023
£
(150)
(2,485)
(6,025)
(8,660)
(397,900)
(406,559)
(630)
(3,751)
(7,174)
(153)
(4,500)
(4,687)
(20,895)
(427,455)		 Transfers
in the year
2023
£
8,000
-
6,025
14,025
(14,518)
(493)
-
493
-
-
-
-
493
0		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
£
27,328
6,423
-
33,751
667,956
701,707
-
(604)
14,794
327
225
(605)
14,137
715,843

18

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

15 Funds (continued)

Analysis of net assets by fund

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
In the previous year the movements in the
Designated Funds
Major Improvements
Site Fund
Stepping Stones
Future Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Christ Central Churches
Newday main event
Support Fund
Community assistance
Zambia
Ukraine
Doxecology Concert
Endless Joy Album Launch
Aggregate of funds		 charity's funds
Opening
balance
2022
£
6,688
5,555
-
-
12,243
743,785
756,028
-
-
18,980
585
750
-
-
-
20,315
776,343		 General
Designated
funds
funds
£
£
592,256
-
75
-
17,825
-
61,911
33,751
(4,110)
667,956
33,751
were as follows:
Incoming
Outgoing
Transfers
resources
resources
in the year
2022
2022
2022
£
£
£
-
(10,540)
23,330
-
(245)
3,598
-
(6,025)
6,025
-
(1,696)
1,696
-
(18,507)
34,649
348,974
(367,602)
(35,007)
348,974
(386,108)
(358)
4,243
(4,243)
-
492
(220)
-
8,903
(15,688)
-
-
(105)
-
4,580
(5,105)
-
347
(347)
-
384
(739)
355
167
(170)
3
19,116
(26,616)
358
368,089
(412,725)
-
Unrestricted Funds		 Restricted
funds
£
-
-
2,100
12,037
14,137
Gains and
losses
2022
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2023
£
592,256
75
19,925
107,699
(4,110)
715,843
Closing
balance
2022
£
19,478
8,907
-
-
28,385
690,150
718,535
-
272
12,195
480
225
-
-
-
13,172
731,707

19

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

15 Funds (continued)

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
£
£
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

Designated Funds

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. 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 expenditure.

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 cost-recovery basis. Any shortfall in event costs are reimbursed by way of a transfer from the General Fund unless it is not material and anticipated to be cleared from receipts during the forthcoming financial year.

Christ Central Churches

A special collection to support the work of Christ Central Churches

Support Fund

Money raised so those in financial need can apply for small grants and loans. This originally started from the impact of Covid 19 but is still in use.

Community Assistance Fund

Helping members of the local community with small grants to assist with tavel to and from charity activities.

Zambia

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

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

20

CITY CHURCH SHEFFIELD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

16 Transactions with related parties

During the year the charity:

Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.

21

CITY CHURCH SHEFFIELD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total Expenditure
Net income/(expenditure)
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
15		 General
Designated
2023
2023
£
£
370,522
-
17,844
-
1,859
-
390,224
-
397,900
8,660
397,900
8,660
(7,676)
(8,660)
(14,518)
14,025
(22,194)
5,365
690,150
28,385
667,956
33,751
Unrestricted funds		 Restricted
2023
£
21,367
-
-
21,367
20,895
20,895
472
493
964
13,172
14,137		 Total
2023
£
391,889
17,844
1,859
411,591
427,455
427,455
(15,864)
-
(15,864)
731,707
715,843		 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)
-
(44,635)
776,343
731,707

22