CHARITY REGISTRATION NUMBER: 1193562
Sheaf & Porter Rivers Trust Unaudited Financial Statements 31 March 2022
Sheaf & Porter Rivers Trust
Financial Statements Period ended 31 March 2022
Page Reference and administrative details....................................................................................................... 3 Structure, governance, and management .................................................................................................. 4 Statement of Financial Activities .................................................................................................................... 9 Statement of Financial Position ..................................................................................................................... 9 Notes to the Financial Statements ............................................................................................................ 10 Donations and legacies ............................................................................................................................... 12 Unrestricted ................................................................................................................................................ 11 Restricted .................................................................................................................................................... 11 Total Funds ................................................................................................................................................. 11 Analysis of expenditure ............................................................................................................................... 11 Independent examination fees .................................................................................................................... 12 Staff costs .................................................................................................................................................... 12 Trustee remuneration and expenses ........................................................................................................... 12 Related party transactions ........................................................................................................................... 12 Contingent liabilities ..................................................................................................................................... 12
Sheaf & Porter Rivers Trust Trustees' Annual Report Period ended 31 March 2022
The trustees present their report and the unaudited financial statements of the charity for the period ended 31 March 2022.
Reference and administrative details
Registered charity name Sheaf & Porter Rivers Trust Charity registration number 1193562 Principal office 43 Harcourt Road Sheffield S10 1DH Email info@sheafportertrust.org Website www.sheafportertrust.org The trustees Simon Ogden Andrew Buck Daniel Hitchen Stuart Barkworth Viv Thom Cathy Ann Spiers Dr Nicola Dempsey Independent examiner Katie Poole c/o Adsetts House 16 Europa View Sheffield Business Park Sheffield S9 1XH
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Sheaf & Porter Rivers Trust Trustees' Annual Report (continued ) Period ended 31 March 2022
Structure, governance, and management
The Trust is constituted as a Charitable Incorporated Organisation (a "CIO") and was registered as a charity under the Charities Act 2011 on 16 February 2021. It is administered and managed by the Trustees in accordance with the powers set out in the Trust's Constitution which amongst other things prohibits the borrowing of money and commitment to expenditure for which funds are not already available.
Membership of the charity is open to anyone who is interested in furthering our purposes. At 31 March 2022 we had 230 members.
The first Annual General Meeting of members will be held on 26 October 2022.
The body of Trustees consists of up to six Trustees of whom up to two may be Nominated Trustees. The Nominated Trustees are appointed by the members of the Sheaf & Porter Rivers Trust ("MPRT"). Each Nominated Trustee appointment is made at a meeting convened and held according to the ordinary practice of MPRT and is effective from the later of the date of the vacancy being filled by that appointment and the date on which the other Trustees or the Trust secretary is informed of the appointment. New Trustees (other than Nominated Trustees) are appointed by a resolution of the Trustees at a Trustee's meeting convened pursuant to the Trust's Constitution.
The trustees are henceforth subject to election at the Annual General Meeting of members.
The secretary has ensured that all trustees have access to relevant Charity Commission regulations and guidance.
The trustees met 12 times during the reporting period, with a number of active members and volunteers also in attendance. The minutes of these meetings are available to all members on request.
The secretary maintains a register of trustees’ interests.
The charity has no paid employees.
Objectives and activities
Overview
The Trust managed to maintain considerable momentum and enthusiasm throughout the pandemic despite being obliged to meet mainly on Zoom or outdoors in small groups. This is a tribute to the collective passion and ingenuity of our trustees and members as well as the very clear support of a much wider group of citizens.
We have been successful in engaging a broad range of people and have developed skills in fund-raising both from charitable and sponsorship and by our own events, principally our Hidden Rivers Tours.
As a result we are now a recognised and distinctive presence in the south of the city enjoying significant cross-party support and have demonstrated our capacity to positively affect developments and plans through our interventions. However, there are still some sections of the Council who appear reluctant to engage with us and this remains a challenge.
The objectives of the Trust are to conserve, protect, regenerate and improve the channel and banks of the urban River Sheaf and Porter Brook in Sheffield for the benefit of the public with a view to improving public access to the rivers for amenity, health, opportunities for active travel and better stewardship and providing opportunities for the public to take part safely in practical activities to improve, explore and look after the rivers.
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Sheaf & Porter Rivers Trust Trustees' Annual Report (continued) Period ended 31 March 2022
Objectives and activities cont. Overview cont.
To advance the education of the public and any association, institution, voluntary organisation, company, local authority, administrative or governmental agency or public body or representative body about:
(i) the better understanding of these rivers, their corridors and catchments, including their fauna, flora, biodiversity, history, heritage and cultural significance, their role in health, wellbeing and appropriate economic or social activity, and their better management;
(ii) the need for, and benefits of conservation, protection, regeneration and improvement of the aquatic environments of these rivers.
Our Trustees have paid due regard to guidance issued by the Charity Commission in managing the charity and in preparing this report.
The charity now has 250 members and other supporters including a number of regular volunteers.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
Achievements and performance
The Sheaf & Porter Rivers Trust (formed prior to the formation of the formal charity) transferred its entire activities and assets to the Trust. The Trust has the same purposes and objectives as the original society.
We received income from a combination of grants, sales tour income, donations and membership which have allowed us to undertake a wide range of activities in pursuance of our purpose and objectives.
Hidden Rivers tours and other events
An important aim of the Trust is to raise public awareness and understanding of our often hidden rivers. We have therefore developed a strong programme of discovery and exploration through tours and walks.
In 2021 we led some 1500 people on 96 separate tours of the “hidden” culverted parts of the Porter Brook and River Sheaf, informing participants about the rivers’ history and ecology and encouraging them to support our work. These included specialist events for several local businesses, the South Yorkshire Fire Service and environmental and water industry professionals.
We have held information giving stalls at five “Pollen Markets” and similar events near Castlegate, and have taken over 600 people on our ‘How the Sheaf was Lost’ tours of the Castlegate site. We attended our sister organisation Friends of the Porter Valley’s Easter “duck race” and the Showroom Cinema’s showing of the recent ‘Rivers’ feature documentary, picking up new supporters at all these events.
River clean-ups
We have undertaken three “clean-ups” of sections of the River Sheaf, in partnership with the River Stewardship Company and supported by 40 of our volunteers. We have removed considerable quantities of waste, thereby contributing to improving the river.
Intervening in developments adjacent to the rivers
We have intervened at the planning stage in numerous developments adjacent to the rivers, with the aim of improving access to the rivers, re-naturalising the river channel and completing the Sheaf Valley and Porter Brook trails. These interventions have included:
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Sheaf & Porter Rivers Trust Trustees' Annual Report (continued) Period ended 31 March 2022
River Sheaf
Castlegate – we have worked with Sheffield City Council, the Friends of Sheffield Castle and other partners to develop plans for this large brownfield site on the edge of the city centre and adjacent to the confluence of the River Sheaf and River Don. The Council has secured £15 million “levelling up” funding for the first phase of regenerating this site, which will include de-culverting the River Sheaf and creating a high quality public space on this historic site.
Costa Coffee Queens Rd – following a well-supported campaign by the Trust an initially very reluctant developer was persuaded to include a riverside walkway in his development which will open access to an existing ‘lost’ section of the trail built over ten years ago behind Travis Perkins and Big Yellow but never opened. We are liaising with the neighbouring businesses and Sheffield City Council to open the whole length of this path, subject to adoption by the Council, which will be an important addition to the Sheaf trail. However the Council’s Highways Officers have so far refused to ‘adopt’ the route so the campaign goes on! Broadfield Park: we have liaised with landowners and the Jamia Masjid mosque on Leyburn Road, which is redeveloping its site adjacent to Broadfield Park and the river, with a view to purchasing a derelict plot between the mosque and the park, which we will then incorporate into the park, giving safe access to the river for play and discouraging a chronic fly-tipping problem.
Little London Road formerly Laces Boxing – although local residents and the Trust would by far have preferred to see this narrow derelict site turned into a pocket riverside park, it was clear planners could not refuse it on those grounds so we put forward proposals leading to the developer agreeing to install a riverside path which will, in turn, lead to the potential completion of a further section of the Sheaf trail. The developer also agreed to carry out improvements to re-naturalise the river channel.
STEPs and Adlington Homes at Troutbeck Road – we asked Sheffield City Council to take action to enforce a planning condition requiring the installation of a riverside path alongside the STEPS building, which when complete will allow a further section of the Sheaf trail already built by Adlington to be accessed . Enforcement action was then taken resulting in an offer from developers to retrospectively construct the missing link which will connect to an adjoining existing cycle-footway. Adoption will again be an issue. We are also in dialogue with Tesco about providing a further missing link on their land connecting to their existing riverside boardwalk just upstream.
Porter Brook
Sidney Street and Matilda Street Pocket Park – we intervened in a planning application for the demolition of the “AVEC” building on Sidney Street, with a view to installing a riverside path which will link to already installed paths both up and downstream of this site. Although this has not yet happened the Council has carried out graffiti removal and repairs to the park and assure us that redevelopment of the adjoining AVEC and NCP site including a riverside trail, is now imminent
Sylvester Street – we are working with Sheffield City Council and construction company Winvic to ensure that a riverside path is installed as part of a major housing development on this site, again with a view to completing a significant section of the Porter Brook trail. We have highlighted that a corner of the building has been built 2m closer to the river than the approved plan and are seeking mitigation.
Waitrose – we worked in partnership with John Lewis to secure the installation of a small “viewing platform” adjacent to a very short exposed section of the Porter Brook, along with public information boards at three points along the brook’s passage under the supermarket and its car park. We are now talking to them about staff engagement and a donation towards re-naturalising the river channel.
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Sheaf & Porter Rivers Trust Trustees' Annual Report (continued) Period ended 31 March 2022
Station Lightwell
We have developed a proposal to install a high quality “lightwell” with seating and public information on platform 5 at Sheffield Rail Station above the confluence of the River Sheaf and Porter Brook, and ran a poetry competition as part of this project. We raised £25k by way of grants and donations in cash and kind to fund the lightwell from the Town, Freshgate and JG Graves Trusts, South Yorkshire Community Fund, Ward Pot, Transpennine Trains, Outokumpu, and Gripple. At the time of this report, we are awaiting final authorisation from Network Rail to proceed with installation.
Arts projects
We have been delighted to attract a number of arts collaborations including our own Alison Churchill and Cathy Spiers, visual artists, electronic composer Adrian Moore and his students from Sheffield University.
River Stewardship
We are looking forward to launching a new River Warden and Pollution Hunting volunteer network on the Sheaf and Porter alongside other river groups. This will include some basic Citizen Science Training. We are particularly keen to hear from people interested in helping with this new initiative.
We have enjoyed excellent support from a range of riverside businesses including Showroom Cinema, Triple Point Brewery, Yorkshire Artspace, Firmachrome, Wolf Safety Lamp, Starprint and hope to set up a more formal partnership for businesses on or close to the two rivers to show their support and engage their staff.
Financial review
Unrestricted funds: Incoming resources amounted to £40,428 and expenditure of £9,981 was incurred. After the surplus for the period £30,447 unrestricted funds remained as of 31 March 2022.
Restricted funds: Incoming resources amounted to £20,560 which is grants received in respect of the station lightwell project refered to above. Restricted funds carried forward on 31 March 2022 amounted to £20,560.
Reserves are currently held in a deposit account with our bank.
The trustees' annual report was approved on 26 October 2022 and signed on behalf of the board of trustees by:
Simon Ogden Trustee
Andy Buck Trustee
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Sheaf & Porter Rivers Trust
Independent Examiner's Report to the Trustees of Sheaf & Porter Rivers Trust Period ended 31 March 2022
I report to the trustees on my examination of the financial statements of Sheaf & Porter Rivers Trust ('the charity') for the period ended 31 March 2022.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements 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.
Katie Poole Independent Examiner c/o Adsetts House 16 Europa View Sheffield Business Park Sheffield S9 1XH
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Sheaf & Porter Rivers Trust Statement of Financial Activities Period ended 31 March 2022
| Period to | Period to | |||
|---|---|---|---|---|
| 31 March 2022 | 31 March 2021 | |||
| unrestricted | Restricted | |||
| Note | funds | funds | Total funds | |
| £ | £ | £ | ||
| Income and endowments | ||||
| Tour income | 2 | 22,700 | - | 22,700 |
| Grant income | 3 | - | 20,560 | 20,560 |
| Donations, membership & Transfers | 4 | 17,728 | - | 17,728 |
| Total income | 40,428 | 20,560 | 60,988 | |
| Expenditure | ||||
| Expenditure on charitable activities | 5 | 9,981 | - | 9,981 |
| Total expenditure | 9,981 | - | 9,981 | |
| Net income/(expenditure) and net | 30,447 | 20,560 | 51,007 | |
| Reconciliation of funds | ||||
| Total funds brought forward | - | - | - | |
| Total funds carried forward | 30,447 | 20,560 | 51,007 |
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
Statement of Financial Position
31 March 2022
| 31 March 2022 | |
|---|---|
| £ | |
| Current assets | |
| Cash at bank and in hand | 51,007 |
| Net current assets | 51,007 |
| Net assets | 51,007 |
| Funds of the charity | 51,007 |
| Restricted funds | 20,560 |
| Unrestricted funds | 30,447 |
| Total charity funds | 51,007 |
The notes on pages 9 to 14 form part of these financial statements.
These financial statements were approved by the board of trustees and authorised for issue on 26 October 2022, and are signed on behalf of the board by:
| Simon Ogden | Andy Buck |
|---|---|
| Trustee | Trustee |
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The notes on pages 10 to 14 form part of these financial statements.
Sheaf & Porter Rivers Trust
Notes to the Financial Statements period ended 31 March 2022
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 43 Harcourt Road, Sheffield S10 1DH.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
Accounting policies Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the Charity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
Judgements and key sources of estimation uncertainty in the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There were no significant judgements or estimates in relation to the period under review.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
2. Tour Income
As mentioned earlier in this report, the Charity completed a number of tours which resulted in income from ticket sales during the period end 31 March 2022. £22,640 of income was recorded in the period ended 31 March 2022. This income was offset by tour costs in terms of qualified experienced tour guides of £6,775 as noted within the breakdown of expenditure at note 5.
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Sheaf & Porter Rivers Trust
Notes to the Financial Statements (continued)
3. Grant Income
| Grant Sheffield Town Trust Outokumpu J G Graves Charitable Trust First TransPennine Hart Shaw LLP Sheffield City Council South Yorkshire Community Foundation Sheffield City Council |
Restricted Funds £ 5,000 1,000 2,500 5,000 2,560 1,000 1,500 2,000 |
|---|---|
| 20,560 |
4. Donations
| Donations Transfer from Sheaf & Porter Rivers Trust (pre charity reg) Donations from companies/individuals* Membership fees Other |
Unrestricted Restricted Total Funds Funds £ Funds £ 2021 £ 13,647 - 13,647 2,550 - 2,550 1,530 - 1,530 1 - 1 |
|---|---|
| 17,728 - 17,728 |
* The £2,550 includes one significant donation from Gripple, this is not designated to restricted cash as it is not pledged to any specific project but does make up a material amount of donations received in the period.
Income transferred for the Sheaf & Porter Trust (pre charity registration) consists of Membership income, tour income (net of costs) and a number of early donations to the trust. This income was mainly achieved in the 2019 year as the Covid 19 pandemic and associated lockdowns limited the trusts activities in the 2020 year.
5. Expenditure on charitable activities by fund type
| Expenditure | Unrestricted Funds Restricted Funds Total Funds 2021 £ £ £ 9,981 - 9,981 |
|---|---|
5.1 Analysis of expenditure
| Tour costs Event costs IT costs Bank costs |
Total Funds 2021 £ 9,191 212 532 46 9,981 |
|---|---|
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Sheaf & Porter Rivers Trust Notes to the Financial Statements (continued)
6. Independent examination fees
No fee has been charged for completion of the independent examiners time spent on thie
7. Staff costs
The charity has no employees and no employee benefits were therefore paid during the period.
8. Trustee remuneration and expenses
The trustees received remuneration of £Nil. The trustees received expenses of £Nil.
9. Related party transactions
There were no related party transations to report during the financial period.
10. Contingent liabilities
The trustees were not aware of any liabilities at the end fo the financial period.
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