Charity reglstration number 223760
Sheffield Town Trust
Reports and financial statements
For the year ended 31 December 2023
Hawsons

Sheffield Town Trust
Reports and financial statements
For the year ended 31 December 2023
Contents
Page
Trustees and officers
Trustees, report
Statement of trustees, responsibilities
Indepen(Jenl auditors. report
8-10
Accounting policies
Statement of financial activilies
13
Balance sheet
14
Statement of Cash Flows
15
Notes lo the financial ststements
16-23
App6ndix 1- Grant5
24-26

Sheffield Town Trust
Trustees and officers
Charlty Commlssion Registration Numbgr: 223760
Town Trustees:
Nicholas James Anthony Hutton, MBE
Town Collector 2023- (Elected November 20051
Marian Jgan Rae, DL, Bsc
Town Collector 2020 - 2023 {Elecled August 2003>
Penelope Mary Jewitt
Town Collector 2014- 2017 (Elected February 1999)
James William Fulton
Town Collector 2017 - 2020 (Elected February 1999)
Professor Sarah Elizabeth Thomas. FRCP, DTM, H Dip Med. MB. ChB
(Elected August 2003. resigned April 20231
Olivgr Georye Stephenson. MA (HO￿), MBA
(Elected November 2006)
Jang Madgleine Feffetti. MA PGCE
(Elected February 20071
Dr Julie MacDonald. DL
{Elecled Febwary 20141
Zahid Hamld, MBE
(Elected February 2014)
Mark Quentln Swales, MSC, FlnstLM
(Elected February 2014}
Jason Rupert Heath. BA
(Elected November 20141
Peter Conway Hartland, Bsc (Hons), ACA
(Elected May 2023)
Heather Ann Manning. BA (Hons), PgDL
(Elected November 2023)
Dr Rlchard Matthew Foster, M8, CHB. MRCGP
(Elected November 2023)

Sheffield Town Trust
Trustees and officers (continued)
Law Clerk:
Paul Trudgill. LLB
Commercial House, 14 Commercial Street, Sheffield, S12AT
Surveyor:
J.N. Robinson. BS¢, MRICS
8 St. James Street. Sheffield, S1 1XN
Investment
Advisors:
Rathbones Ilnvgstec Wealth & Investment Limitgd)
Beech House, 61 Napier Street. sheff￿ld. S11 8HA
Audltors:
Hawsons Chartered Accountants
Pegasus House, 463a Glossop Road. Sheffield, S10 2QD
Bankers:
Virgin Money
Fargale, Sheffield. S12HE

Sheffield Town Trust
Trustees, report
The Town Trustees present their report and financial slalemenls of the Sheffield Town Trust for the year ended
31 December 2023. The Tnjslees have adopted the provisions of the Statement of Recommended Practice
ISORPI "Accounting and Reporting by Charities" {FRS 1021 in preparing the annual report and financial statements
of the charity.
The financial statements have been prepared in accordance wlh the accounting policies sel out in the notes lo the
accounts and comply with the charity's governing document. the Charities Act 2011 and Accounting and Reporting
by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their aceounls in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland.
STRUCTURE GOVERNANCE AND MANAGEMENT
Hlstory of the constitution of the Trust
The Sheffield Town Trust was established on 10 August 1297 by Thomas de Furnival, Lord of Hallamshire. The
original deed was modrfied by a Decree of the Commissioners of Charitable Uses enacted in 1681 and by the
Sheffield Town Tnjstee Act 1873 from which the TnJstees derive their authority.
Trustees and administration
The original deed stipulates that there shall be thirteen Trustees and that they shall elect one of their number to be
Town Collector {Chaiman). The names of the Trustees who served during the year ended 31 December 2023 are
listed on page 1.
New Trustees are elected by the Freeholders of the Township of Sheffield who are resident or who occupy
rateable lenemenl in the Parish of Sheffield. Any person who is resident or who carries on business in or near
Sheffield is eligible for election as a Trustee.
Candidates for election as Trustees are sought by advertisement in the local press and by such other methods.
including suggestions by the existing TTU5tee5. a5 may be decided by them. New Trustees are inducted by
interview with the Law Clerk and trained by joint consideration of application5 for grant5 Wth existing Trustees and
reports on such applications to the olher Trustees.
In the year ending 2023. Prof Sarah Thomas retired a5 a Trustee in April and subsequently sadly died in May.
Trustees will greatly miss her wsdom and 5UPPOrt in the future. Trustee5 also welcomed Peter Hartland. Heather
Manning and Dr Richard Foster as new Trustees in the year.
Trustees, meetings are held four limes a year and they are advised by the Law Clerk on legal mallers and by other
appropriate professional advisors in respect of the trust property and quoted investments. The day lo day
administralion is carried out by the Law Clerk.
All decisions of the sheff￿d Town Trust are made by the Tovm Trustees at their quartefly meetings.
Capital funds
The capital funds of the Trust comprise..
Perman8nt EsL*e of which only the incorne may be distributed.
Non Permanent Estate of which both capital and income may be distributed. As a matter of current policy the
Trustees do not, however, distribute Ihe capitsl.
Speclal Funds which are earmarked for the following spectfic purposes:
Harry Fisher Botanical Gardens Fund for the maintenance and improvement of Sheffield Botanical Gardens.
Charlos Hènry Maleham Bequest for the purthase of pictures lo be huThJ in a building in Sheffield. The pictures
are mainly on loan to the City Art Galleries.
Daniel Holy's Bequest for the maintenance and carying on of the Blind As￿uM or Inslilulion in Wesl Street,
Sheffield. In practice the annual income of the bequest is paid to the Blind As￿￿M. which is now the Sheffield
Royal Society for the Blind of S Mappin Street, Sheffield. S1 4DT.

Sheffield Town Trust
Trustees, report (continued)
Risk managemgnt
The Truslees have assessed the major risks lo which the charity is exposed. in particular those related to the
operations and finances of the Tnjsl, and are satisfied that systems are in place lo mitigate exposure to the major
risks. The Trustees have adopted specrfsc written policie5 With regards to risk, confflicl of interest and complaints.
08JECTIVES AND ACTIVITIES
Public benefit
The Trustees have complied ￿th the duty in S.4 of the Charities Act 2011 to have due regard to public benefit
guidance published by the Charity Commission.
ObjgGts
The objects of the Trust are 'charitable and public uses within the City of Sheffield.. The Trustees are not,
however, empowered to make grants lo indbvidual person5 arKI the income from the Bailey Endowfflenl may not be
used for ecclesiastical purposes.
Applications for non-recurring grants are investigated by one or more Trustees report to the quarterfy
meetings of the Trustees. Annually recurring grants are reviewed every three years.
The main objective of the Trustees continues to be the dÈstribution of the whole of their income to the objects of the
Trust.
The Trustees try lo ensure that as many local charities and rffganisalions as possible are aware of their existence
and objectives.
In Ihe case of charities the Trustees prefer to make grants to registered charities cyganised and managed locally
rather than nationally.
Activities
These are dealt with in the Financial Review.
FINANCIAL REVIEW
Revlew of actlvltles during 2023
The income arising on irtome funds was £456,930 comprisirvJ rents. investment income, interest, donations from
The Hospital of Gilbert. Earf of Shrewsbury al Sheffield {Shrewsbury Hospital Trust). Grants paid amounted lo
£290.616 and inve51menl rnanagemenl costs, governance costs and support costs were £166,164 leaving net
income before gains and losses on investment assets of £150. This comprises nel income of £1.355 on special
income funds and net expenditure of £1,205 on unrestricted income funds.
Grants were made up as follows..
2023
2022
Number
Number
Annually recurring Grants
Non Recurring Grants
92.0(K)
35
92.000
77
196,926
221.082
Cathedral Company of Changeringers
750
750
Sheffield Royal Society for the Blind
940
915
2￿,616
314.747

Sheffield Town Trust
Trustees. report (continued)
Unrestricted Endowment Funds
The income arising on endowment funds was £Nil with expenditure of £24.811.
Invgstmenl of capital
The Trustees. investment policy is to maximise income vthilsl preserving the value of the capital base, adopting an
investment strategy of mC￿lerate risk. The Trustees believe this is consistent with their objectives of maximising
amounts available for distribution whilst maintaining. in perpetuity, Ihe funds to generate this income.
A finance committee of the Trustees meets every six months with the Trust's investment advisers lo review
investment performance. It is the Trust poly thal the portfol￿ mix will fall wlhin the following broad planning
ranges..
Fixed Inleresl
UK Equities
International Funds
CashlAilernalive Inveslmenls
15%-35%
25% - 50%
20Qh - 40%
0%-10%
Benchmark relums for income are sel on an annual basis taking account of Prevailing market conditions,- where
appropriate this may involve allefing the level of funds held in cash. Benchmark capital retums. after charging
management fees, are as follows-
Gilts and fixed interest stocks
UK Equities
International funds
FT Govemmenl Stock Index
FT Al Share Index
FT World Index (excl. UK)
The inveslmenl advisers manage the portfolio on a diSC￿tiOnary basis vrithin these guidelines.
With regard to the property holdings. the Trustees. polw is lo maintain the portfolio al around ils current level
whilst. acting on the advsce of an independent surveyor. reviewng ways to improve the quality of the portfolio and
maximise income returns.
Reserves
At 31 December 2023 the Tnjst had unreslricled income reserves amounting to £426.779. 11 is the Tru51ees' policy
lo maintain unrestricted reserves al this level partly so that Ihe level of grants in the immediate future can be
sustained in the event of any unforeseen fall in incoming resources and partly lo enable the Trustees to make one
or more particularly substantial grants without prejudicing the Trustees, normal pattern of grant making. The Trust
had special income funds of £25.654. which are not available for the general purposes of the charity, and
£9.625.890 was held in endowment funds. The total funds held al 31 December 2023 were £10,078,323.
Factors that are likely to affect future financial perfomiance
The Trustees have considered the factor5 which could impact future financial performance. They consider
circumstances which negatively impact the perf{)￿nanCe of the inveslmenl portfolio as the most likely lo affect the
futu￿ financial perfonnance of the Trust.
Fundralslng
The Trust does not cary out signfficant fundraising activities. n¢y does it employ anyone to carry out fundraising
actwities on ils behalf.

Sheffield Town Trust
Trustees, report lcontinued)
ACHIEVEMENTS AND PERFORMANCE
The Trust has expended all of ils recurring unrestricted income for the year for chartL8ble and public uses within Ihe
City of Sheffield.
The Trust's quoted investment income for the year of £282,331 was above the income benchmark of £260.000. as
the level of company dividend payments recovered. Rental income less oulgoings tolalled £84,841 and was
consislenl with the prior year.
Over the year endowment funds decreased from £9.691.424 to £9.625,890. This refflecled a net gain on quoted
investments of £186,191 and losses on investment properties of £223.885. The losses on investment properties
included nel losses on the dispK)sal of properties lolalling £38.875 and losses on the revaluation of the remaining
properties lolalling £185,010.
PLANS FOR FUTURE PERIODS
The Tnjslees plan to continue lo support charitatAe and public good wthin the City of Sheffield, and to maximise
income while preserving the value of the capital base adopting an investment strategy of moderate risk.
Statement of dlsclosure of Infomiation to auditors
The Trustees who held office al the dale of approval of this Annual Report each confirni that:
so far as they are aware. there is no relevanl audit infom)alion lillformalion needed by the charity's
auditors in connection with preparing their report) of which the charity's auditors are unaware. and
they have taken all the steps that they ought lo have taken as Twslees in order lo make themselves aware
of any relevant audit infomialion and to estsblish that the charity's auditors are aware of that information.
On behalf of the Trustees.
JAHutto
Town Collector
Dale." 20 May 2024

Sh8ffield Town Trust
statement of Trustees, responsibilities
The Trijstees are responsible for preparing Ihe Trustees, Report and the financial statements in accordance with
applicable law and Unite(J Kingdom Accwnting Standards (United Kingdom Generally Accepted Accounting
Praclicel.
The law applicable lo charities in England and Wales requires the Trustees lo prepare financial statements for
each financial year which gtve a true and fair view of the stale of affairs of the charity and of the incoming
resources and application of resources of the charity for thal period.
In preparing these financial stslements, the Trustees are required to..
select suitable accounling policies and apply them consistently.
observe the methods and principles in the Charities SORP 2019 IFRS102),'
make judgements and estimates that are reasonable and prudent"
stale whether applicable accounting standards have been folli)wed.' and
prepare the financial slalements on the wing corKern basis unless il is inappropriate lo presume
that the charity WTII continue in operation.
The Trustees are reswnsible for keeping proper ￿luntIng records that disclose with reasonable accuracy al any
time the financial position of the charity and enable them lo ensure that the financial statements comply with the
Charities Act 2011, Ihe Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed.
They are also responsible for safeguarding the assets of the chanty and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.

Sheffield Town Trust
Indepandent auditors. rnport to the Trustees of Sheffield Town Trust
Opinion
We have audited the financial statements of Sheffield Town Trust Ilhe charil¥} for the year ended 31 December
2023 which comprise the Statement of Financial Aclivilies. Balance Sheet, Sialement of cash flows, notes lo the
financial slalemenls and signrficant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and Untted Kingdom Accounting Standards, including FRS 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting
Practice).
In our opinion. the financial staternentS=
give a true and fair view of the stale of the charity's affairs a5 al 31 December 2023 and of its incoming
resources and application of resources for the year then ended..
have been properly prepared in accordance with United Kinglom Generally Accepled Accounting Praclice",
and
have been prepared in accordance with the requwements of the charit￿ Act 2011.
Basls for oplnion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS IUKI} and applicable
law. Our responsibilities under those standard5 are further desuibed in the Auditor's responsibilities for the audit of
the financial 5talement5 section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant lo our audit of the financial slalements in the UK. induding the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe
that the audit evidence we have obtained is 5uFficienl and appropriate lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial stalemenls. we have concluded that the trustees. use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not 1dentrf￿d any material uncertainties relating lo events or
conditions that. individually or collectively. may cast significant doubl on the charity's ability to continue as a going
concern for a period of at least 12 months from when the financial slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the trustees wth respect to going concern are described in the
relevant seclions of this report.
Other Inforn)atlon
The other infomialion comprises the infomiation included in the annual report. induding the Iruslees, report, other
than the financial slalemenls and our auditor's report Ihereon. The Iruslees are responsible for the other
information contained within the annual report. Our opinion on the financial slalemenls does not cover the other
information and, except to the extent otherwise explicitly stsled in our repjrt. we do T￿t express any form of
assurance conclusion Ihereon.
Our responsibility is lo read the olhef informath.on and. in doing so, consider whether the other information is
materially inconsislenl with the financial statements or our knovAedge obtained in the course of the audit. or
otherwise appears lo be materially mis51aled. If we identfy such material ir￿nsIstencieS or apparent material
misstatements, we are required lo deleffliine whether this gives rise lo a material misslalemenl in the financial
slalemenls themselves. If. based on the work we have performed. we conclude that there is a material
misslalemenl of this other infomialion. we are required to report that fact.
We have nothing trj report in this regard.

Sheffield Town Trust
Independent auditors, report to the Trustees of Sheffield Town Trust (continued
Matters on which we are required to report by ex￿PtIon
In the light of the knowtedge and understanding of the charity and rts environment obtained in the course of Ihe
audit. we have not idenlrfied material misstatements in the InJstees' report.
We have nothing to report in respect of the followirvJ matters in relation lo vthich the Charities (Accounts and
Report51 Regulalions 2008 require us to report lo you rf. in our opinion-.
the information given in the trustees. report is in￿nSIStent in any rnaterial respect wlh the financial statements.,
or
sufficient accounting records have not been kept,. or
the financial statements are nol in agreement with Ihe accounting records.. or
we have not re￿IVed all the irrformation and explanations we require for our audit.
Responsibllities of trustees
As explained more fully in the trustees. responsibilities statement sel out on page 6. the trustees are responsible
for the preparation of the financial statements and for being salisfied that they give a true and fair view. and for
such internal control as the trustees determine is necessary lo enable the preparation of financial slalemenls that
are free from material mi55talement. whether due to fraud or error.
In preparing the financial slalements. the trustees are responsible for assessing the charity's ability lo continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the Iruslees either intend to liquidate the charity or to cease operations, or have no realistic
allernalive bul to do so.
AudStor's responslbllltles for the audlt of the financial sL*ements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misslalemenl, whether due lo fraLFd or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always delecl a material misstatement when it exists.
Misstalemenls can arise from fraud or error and are considere¢J malwial rf. individually or in the aggfegale. they
could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial
statements.
Irregularities, including fraud, are instances of non-compliance wth laws and regulations. We design procedures in
line with our responsibilrties. outlined above. to delect material misstatements in respecl of irregularities, including
fraud. The exlenl lo which our prcKedures are capable of detecting iffegularities, induding fraud is detailed below..
The charity is subject to laws and regulations Ihal direclly and indirectly affect the financial slalements. Based on
our understanding of the charity and the environmenl it operates within. we determined that the laws and
regulations which were most signtficanl included FRS 102 and Ihe Charities Act 2011. We considered Ihe extent to
which non-compliance with these laws and regulations might have a material effect on the financial stalemenls,
including how fraud might 0￿Ur.

Sheffield Town Trust
Independent auditors, rnport to the Trustses of Sheffield Town Trust (continued)
We evaluated management's incents.ves and opporbjnities for fraudulent manipulation of the financial slalemenls
lincluding the risk of override of controls). and determined that the principal risks were related to the posting of
inappropriate joumal entries lo improve the chanty's re5uII for the period. and management bias in key accounting
estimates.
Audit procedures perfomied by the engagement team included=
Discussions with management and those responsible for legal compliance procedures within the charity to
obtain an understanding of the legal and regulatory framework applicable lo the charity and how the charity
complies with that framework, including consideration of knovm or suspected instances of non-compliance with
laws and regulations and fraud-.
Reviewing minutes of Trustee rneetin￿-.
Identifying and assessing the design effectiveness of controls that managemenl has in place to prevent and
delecl fraud and non4ompliance with laws and regulalions..
Challenging assumptions and judgements made by management in their significant accounting estimal85.
Identifying and testing joumal entries. in particular any joumal entries posted with unusual account
combinations or posted by senior management.
A further description of our responsibilities for the audst of the financial Statements is located on the Financial
Reporting Council's website al.. www.frc.org.uklaudilorslaudil-assurancelaudrtor-s-responsibilities-for-Ihe-audil-of-
Ihe-ftldescriplion-of-the-auditor's-responsibilibes-for. This description forms part of our auditor's report.
Use of our report
This report is made solely lo the tharitrfs trustees. as a body. in a(thrdance ￿th section 144 of the Charities Act
2011. Our audit work has been undertaken so that we might slate lo the trustees those mallers we are required to
slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not
accept or assume responsibility to anyone other than the charity s Iruslees as a body. for our audrt work. for this
report, or for the opinions we have fomied.
)￿?
Hawsons Chartered Accountants
Stslutory Auditor
Pegasus House
463a Glossop Road
Sheffield
S10 2QD
Hawsons Chartered Accountants is eligible for appointment as audttor of the charity by virtue of ils eligibility for
appointment as auditor of a company under section 1212 of the Companies Act 2006.
10

Sheffield Town Trust
Accounting policies
For the year ended 31 December 2023
Goneral infomation and basls of accountlng
Sheffield Town Trust is a charitable trust registered in England. The registered office is at Knights plc, Commercial
House, 14 Commercial Street. Sheffield. S1 2AT.
The charity conslilutes a public benefrt entity as defined by FRS 102. The financial slalemenls have been prepared
in accordance with Accounting and Reporting by CharilTes.' Sl8tevnenl of Recorrtmended Practice applicable lo
chafilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 effective January 2019. the Charities Act 2011 UK Generally Accepted Practice.
There has been no material departure from this Standard.
The financial statements are prepared on a going concem basis under the histOTical Cost convention. modified lo
include certain items al fair value. The significant accounting policies applied in the preparation of these financial
slalemenls are sel i)ul below. These policies have been con51Stenlly applied lo all years presented unless
olheNise stsled. The presentation currency is United Kingdom pounds steding. The financial statements are those
of the charity as an individual entity.
Funds
Unreslricled funds are available for use at the discretion of the Trustees in furtherance of the general objecltves of
the charity and which have not been designated for other wrFrf)ses.
Endowment funds represent those assets which musl be held perfflanently by the charity. Income arising on the
endowment funds can be used in accordance wth the objects of the charity and is induded as unrestricted income.
Any capil31 gains or losses arising on the investments form part of the fund. Investment management charges and
legal advice relating to the fund are charged against the furKI.
Income
All incomin9 resources are induded in the Statement of Financial Activtties ISOFAI when the charity is legally
enlilled lo the income after any performan￿ conditions have been mel, the amount can be measured reliably and
il is probable that the income will be received.
Legacies
Where the Deed of Gift requires Ihal only the income arising from Ihe investment of the gift is lo be used for the
general purposes of the Tfust, the gift will be an addition lo Pennanent Estate.
Vvhere the Deed of Gift reqijires that the gift. andlor the income arising from it, is lo be used for a particular
purpose, the gift will be treated as a SpKial Fund.
In the absence of any specific requirement in the Deed of GFft ar￿ having regard lo the size andlor circumstan￿5
of the gift, if the Trustees so resolve, the grft will be appropriated as an addition to the Non-Permanent Estat? and,
rf not. will be treated as income.
Legacies are recognised in the financial slatemenls when the charity has entillemenl to the funds. il is probable
that the income will be received and the amount can be measured reliably.

Sheffleld Town Trust
Accountlng pollcles (continuod)
For the year ended 31 December 2023
Expenditufe
Expenditure is included on an accrvals basis artd has been dassrfied under headings that aggregate all costs
related lo that category.
Grants are charged in the statement of financial acttvilies in the year in which they are due for payment. Grants
agreed durirkg the year bul due for payTnent in future years. or grants which are condilional, are shown as
commitments in note 10 to the financial slatements and treated as payable out of future income.
Costs of raising funds comprise those costs directly attributable to managirrfJ the investment and property Portfolios
and raising investment income and rents.
Support C051s comprise costs for the organisational running of Ihe Trust including the costs of processing
applications and grants and other costs integrally involved in meeling the Trust's charitable objectives.
Investment incorng
Dividends and interest receivable are re￿gnised when tsy become ￿1Vable.
Invgstment propertigs
Investment properties are accounted for al fair value. subject to the existing tenancies. Professional revaluations
are made al five yearly intervals. Adjuslmenls are made lo the valuations in the interyening years where ally
material movement in individual property is known to have occurred as assessed by the acting surveyor. Fair
value adjustments are accounted for in the statement of financial activities.
Quoted invgstmgnts
Quoted investments are accounted for at market value al the ￿lUntIng dale and gains and losses arising are
accounted for in the statement of financial aclivilies.
Tangible flxed assets
These comprise paintings. Silve￿are, Ihe Town Guns and Ihe Town Colleclorfs badge. They include paintings
provided by the Chartes Henry Maleham Bequest, and silverware donated by the late Samuel Bailey.
The fixed assets are fecognised in the balance sheet al valuation based on insurance value5. Gains and losses
arising are accounled for in the stslemenl of financial aclivilies.
In view of the nature of these assets no depreciation is charged as the residual value of the assets is not expected
to be less than the amounts included in the balance sheet.
Golng concern
The financial statements have been prepared on a going concem basis as the Trustees believe that no material
uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and
expenditure for 12 months from aulhorising these financial stalemenls. The Trustees believe that the expected
income and expenditure is sufficient wth the level of reserves for the charFty to be able to continue as a going
concern.
12

Sheffield Town Trust
Statement of financlal actlvltles
For thè year ended 31 December 2023
Income Funds
Note Unrestricted
Special
Endowment
funds
2023
Totsl
2022
Totsl
Funds
Funds
Income
Donations
Rents re￿1vable less
oulgoings
Other income
Investment income
Interest receivable
Total Income
79,500
84,841
79.500
83.627
84.841
10,000
283.042
2.930
459.099
280.976
10,258
455.575
1.355
282,331
10.258
456.930
1.355
Expenditure
Raising funds
Charitable activities
Other
15,004
419,776
22,000
24.811
39.815
419.776
22,000
481.591
40,327
392,404
19,680
452,411
Totsl Bxpenditurn
456,780
24.811
Net lexpendlture) I Income
before Investment galns I
(losses)
(1.205)
1.35S
(24,811 }
124,661)
6.688
Nel gains I Ilosses) OD
inveslrnenls
3,029
183.162
186.191
1641.3161
- Loss on investment properties
(223.8851
1223,8851
{25.000}
Not Income l (expenditurè)
1,824
1,355
(65,5341
{62.3551
{659.6281
Othor recognised gains
Nel gains on revaluation of
tangible fixed assets
12,500
Net Movement In funds
1.824
1.355
(65.534)
{62,3551
{647,1281
Reconclllatlon of funds
Total funds brought forward
Total funds carrigd forward
424.955
24.299
9.691.424
10.140,678
10.078.323
10,787,806
10.140,678
426,779
25.654
9.625.890
The chanty has no recognised gains and losses other than those induded in the statement of financial activities
above and therefore no separate statement of total recognised gains and losses has been presented.
There were no discontinued operations.
13

Sheffield Town Trust
Balance sheet as at 31 December 2023
Note
2023
2022
Fixed assets
Tangible assets
Investment properties
Investments
1.094,058
1,440.000
7.182.012
1,094,058
2,025,010
6,738,923
9,716,070
9,857.991
Current assets
Debtors
Cash al bank and in hand
43,372
376.908
420,280
99.954
288.102
388.056
Creditors '. amounls falling due within one year
{58.027)
{105.3691
Nel current assets
362.253
282,687
Net assets
10.078.323
10,140,678
Charlty Funds
Endowment funds
Permanent estate
Non-Permanenl estate
Special funds
5.053,084
3,449,040
1,123,766
4,968,507
3.600,764
1,122,153
9,625,890
9,691.424
Income funds
Unrestricted income funds
Special funds- accumulated incoine
Charles Henry Maleham Bequest
Harry Fisher Botanical Gardens Fund
426.779
424.955
23.115
2,539
22.381
1.918
452,433
449,254
10,078.323
10.140,678
The financial statements were approved and authorised for issue by the Town Trustee5 on 20 May 2024 and were
signed on their behalf by:
MrNJA
MrOGStep
Town Trustees
son
14

Sheffield Town Trust
statement of Cash Flows
For the year ended 31 December 2023
2023
2022
Note
Net Gash flow from opernting activlti8s
11
{308.010)
1363,4551
Cash flow from investing activities
Receipts from sales of investment properties
Payments lo acquire investments
Receipts from sales of investments
Investment income
Interest received
361.125
(1.108,734)
851,836
282,331
10,258
1637,4891
516,329
283,042
2.930
Net cash flow from Investlng actlvlties
396.816
164,812
Net Increase l (decrgasg) in Cash and cash equivalents
88,806
1198,6431
Cash and cash equivalents at 1 January
288.102
486.745
Cash and cash equlvalents at 31 December
376,908
288.102
15

Sheffield Town Trust
Notes to tho financial statements for the year ended 31 December 2023
Expenditure
Ralsing funds
2023
2022
Investment management fees
Property management costs
37,217
2.598
37,730
2,597
39.815
40,327
Charitable activiti8S
Grants paid
Annually recurring grants
Non-recurring granls
Cathedral company of changeringers
Sheffield Royal Society for the Blind
92.000
196.926
750
940
92.000
221.082
750
915
290,616
314.747
Support costs
Cos15 of processing grants-.
- Law clerk's fees
10.800
10.800
Other support costs..
Law clerk's fees
- Book-keeping services
Other legal and professional fees
Miscellaneous
71.100
4.110
33.494
9.656
129,180
37,321
3.642
20,562
5,332
77.657
419.776
392,404
Details of individual grants paid are given in Appendix 1.
Other
Auditor's fees for audit seThices
Auditor's fees for non-audit services
12.750
9.250
22,000
12.000
7.680
19.680
Trustee remuneration
The Trustees neither recetved nor waived any remuneration during the year. The Trustees did not have any
expenses reimbursed during the year.
16

Sheffield Town Trust
Notes to the financial statements for the year ended 31 December 2023 (continued)
Tangible fixed assets
Town
Coll8dor$
Badge
Town
Guns
Paintings
Silverware
Total
Valuation at 1 January 2023
1.053.333
15.225
1.094,058
Change in market value
At 31 December 2023
3.000
22,500
1.053,333
15,225
1.094,058
The valuation of the paintings is based on the insurance valuation provided by Sheffield Museums Trust. The
Town Collector's badge and the Silverware are valued based on prior year valuations and the Town Guns are
included at a nominal value.
Palntlngs provided by the Charles Henry Maleham Bequest
Tltle of painting
"Tower of Tattershall"
"Fountains Abbey"
'Wealhercol Cove"
"Rocky Landscape with Stream.
"Off the Tagu5'
"Bowder Stone"
"The Rainbo
"Miss Queenie Green￿K￿d Chelsea Model-
"Dislanl View of Reading"
"Al John Folhergill'5 Three Swans.
"Sketch on the Norfolk Broads.
'A Barn on the Hill"
"A Hilly River Scheme.
"Dieppe Castle.
inter's Morning- Cartmell Priorf
he Laundry Maid"
"Portrait of Master Millward.
"Portrait of a Lady and a Do
"Lady Denham"
"H.R.H. The Duke of Edinburgh. and preliminary sketch
"Portrait of Madame Gandarillas"
'Smugglers Cave"
The Salmon Leap.
The Penultifflate Pillarf,
'Near Burnham, Norfolk.
"Landscape with Ruined CaS￿e.
Artist
J S Colman
Thomas Girtin
J M W Tumer. R.A.
Thomas Gainsborough. R.A.
J M W Turner. R.A.
Francis Towne
Thomas Girtin
Sir Wm. Ofpen
Thos. Heame
Albert Rutherston. A.R.W.S.
J Thirtle
Ajexander Cozeng
E Dayes
Sir Muirhead Bone
Claude Muncasler
Francis Wheauey, R.A.
Thomas Phillips, R.A.
Joseph Hi9hmore
Sir Peter Lely
David Jagger
Augustus John
W Payne, A.R.W.S.
W Pars. A.R.A.
Deanne Petherbridge
R P Bonington
Jan Galxielsz Sonje
The portrait and preliminary 5ketth of PTince Philip, Duke of Edinburgh are on loan lo the Cullers Company,
and the remaining Maleham pictures. Town Guns arKI silverware are on loan lo the Sheffield Museums Trust.
17

Sheffield Town Trust
Notes to the flnancial statemonts for tho year ended 31 Decembor 20231continuod)
Investrnent properties
Freehold interest in larKI and buildings..
Market
value
Historical
cost
Al 1 January 2023
Disposals
Revaluation
2,025,010
1400,0001
185,010
1,440,000
199,608
{41.0151
At 31 December 2023
158,593
Some properties (included above with a mathel value of £980,000) were acquired very many years ago and
no historical cost can be traced for these.
The properties were valued by Fowler Sandford, Chartered Surveyors. as at 31 December 2023. al fair
value. All investment properties are located in the UK.
Quoted Investments
Market
value at
beginning
of year
Market
value at
end of
year
Change in
market
value
Additions
al cost
Disposal
proceeds
Realised
(losses)
Endow7nenl fund 6.397.933
Income fund
340.9
1.108.734
(851.836)
{33.551)
216.713
3.029
6,837,993
344,019
6,738,923
1,108,734
(851,836)
{33,551)
219,742
7,182,012
18

Sheffield Town Trust
Notes to the financial statements for the year ended 31 December 2023 (continued)
Debtors
2023
2022
Rents and recharges receivable
Prepayments
Other debtors
39.510
3,862
61,882
3,667
34,405
43.372
99.954
Crgditors
2023
2022
Grants payable
Trade creditors
Accwals
Rents in advance
12.910
1.723
32.886
10.508
48,415
6,213
33,219
17,522
58,027
105,369
19

Sheffield Town Trust
Notes to the financial statements for the year ended 31 December 2023 (continued)
Endowment funds
Non
Pemianent
Estate
2023
Pennangnt
Estate
Speclal
Funds
Total
Balance at beginning of year
Income
Expenditure
Movements during the year
Realised loss on quoted
investments
Unrealised gain on quoted
investments
Unrealised gain I Ilossl on
Investment properties
Realised Ilossl on
Investment properties
Balance al end of year
4,968,507
3,600,764
1.122,153
9.691.424
{15.170)
19.388)
1253)
(24,811)
118,759)
{14,450>
1342)
{33.5511
132.381
82,124
2,208
216.713
25.OC(I
{210.010)
(185,0101
138.875)
138.8751
5,053,084
3,449,040
1,123.766
9,625.890
Represented by=
Tangible fixed assets
Investment properties
Quoted inveslrnents
Cash at bank and on depos
40,725
600,000
4,177.057
235,302
1,053,333
1,094,058
1,440,000
6,837,993
253.839
840.0
2,591.270
17,770
69,666
767
5.053,084
3.449.040
1.123,766
9.625,890
Non
p￿￿anent
Estate
2022
Permanent
Estate
Spocial
Funds
Total
Balance at beginning of year
Income
Expenditure
Movements durrng the year
Realised gains on quoted
Investments
Unrealised gain on quoted
investments
Unrealised loss on
Investment properties
Unrealised gain on
Tangible fixed assets
Balance at end of year
5.380.503
10,000
(36,107)
3.843.928
1,116,241
10,340,672
10,000
(36,1071
28.901
22,301
528
51,730
{389,7￿)
(265,4651
(7,1181
(662,3711
{25.000)
{25.0001
12,500
12,500
4,968,507
3,￿0.764
1,122,153
9,691,424
Represented by..
Tangible fixed assets
Investment properties
Quoted investments
Cash at bank and on deposit
40.725
975.000
3,765,036
187.746
1.053.333
1,094,058
2.025.010
6.397,933
174,423
1.050.010
2,564,160
(13,4061
68,737
83
4.968.507
3.600,764
1,122.153
9,691,424

Sheffield Town Trust
Notes to the financial statements for thè year ended 31 December 2023 (continued)
Endowment funds {continuedl
Non-Pemianent Estate includes the following bBqugsts:
Datg and arnount of original bequest
Sheffield Female Refuge ScKiety Bequest
Elizabeth Bramall Bequest
Sheffield Boys, Working Home Fund
James Edward Sutton Bequest
Miss Edith Bedford Bequesl
J C and E M Wood Fund
William Ellis Bequest
Mrs G M Watts-Jones
S M de Bartolome
Florrie Tomlinson Bequest
G F Young
A H Connell
Wood and Parker Trust
E M Wood Fund
Mrs F M Craven
CLLews
H J Allfflan
D G & G F Young Trust Fund
Mrs J M Willis
Miss J A Connell
T J Lodge
F E Mountain
Mrs N Saynor
Dr P Cooke
Grace Thomas
1920
1935
1950
1950
1967
1979
1985
2.400
9,000
10,500
2,100
1,683
38.000
22,722
2,000
10,000
11,177
25,000
5,000
19,114
71,554
1,000
148,789
6,556
110,809
89,648
32,080
172,073
93,186
11,209
5,000
25.000
2002
2003
2004
2005
2006
2006
2009
2011
2013
2013
2013
2014
2014
2014
2018
2021
2021
SpBcial funds cofflpriso:
2023
2022
Harry Fisher Botanical Gardens Fund
Chailes Henry Maleham Bequest
Daniel Holy s Bequest
1930
1939
1870
13.784
1.069.241
40.741
13,436
1.068,830
39.887
1.123.766
1.122.153
21

Shoffield Town Trust
Notes to the financial statements for the year ended 31 December 2023 (continued)
9. Income funds
Accumulated incom
on Special Funds
2023
Harry
Fisher
Botanical
Gardens
Fund
Charles
Henry
Maleham
Bequest
Unrestrided
Income
Funds
Total
Balance at beginning of year
424.955
22.381
1,918
449,254
Movements during the year
Nel Ilossl l income for the year
Unrealised gain on investments
Balance at end of year
(1.20SI
3.029
426.779
734
621
150
3.029
452.433
23.115
2.539
Represented by:
Investments
Debtors
Cash al bank and on deposit
Creditors
344.019
43.372
97,415
58,027
426,779
344,019
43,372
123,069
58,027
452,433
23.115
2.539
23,115
2,539
2022
Harry
Fisher
Botanical
Gardens
Fund
Charlos
Henry
Maleham
Bequest
Unrestricted
Income
Funds
Total
Balance at beginning of year
414.194
21.645
11.295
447.134
Movements during the year
Net income for the year
un￿alISed gain on investments
Balance at end of year
41,436
30.675
736
(9.3771
32.795
30,675
424,955
22,381
1,918
449,254
Represented by-
Investmen15
Debtors
Cash at bank and on depos11
Creditors
340,990
99,954
113,679
1105,3691
99,954
89.380
(105,369)
22,381
1,918
424,955
22.381
1.918
449,254
22

Sheffleld Town Trust
Notes to the financial statements for thè year ended 31 December 2023 {continued)
10. Future commitments
There are no conditional commitments for grants made bul nol paid during the year totslling £Nil
12022.. £4,000) payable out of the respective future years. income.
11. Reconciliation of netloxpenditure) to ngt ￿$h flow from operating activities
2023
2022
Net lexpendilurel for the year
{62.3551
(659,6281
Investment income
IrFlerest receivable
Losses I (Gains) on investments
Loss on sale of investment properties
Decrease in debtors
{Decrease} in creditors
1282,331 }
{10,258)
1186,191}
223,885
56,582
{47.342}
(283,0421
12,9301
641,316
25,000
622
(84,7931
Net cash flow from operating actNilies
{308.0101
363,455
12. Rolated party transactlons
A number of Trustees are also Trustees of other charities. some of which occasionally apply for grants from
the Trust. In such cases the Trustees involved do nol conlrol or have a significant interest in these other
charitses and are anyway excluded from participating in the decision-making process wth regard to the
potenbal award of such grants.
Mr N J A Hutton and Mr O G Stephenson are Trustees of the charity and are also Trustees of Shrew5bury
Hospital Trust, another locally based charity. During the year Sheffield Town Trust received a donation of
£79,500 from Shrewsbury Hospital Trust. The ¢Yonalion ￿as used lo augment grants made by the Trust.
23

Sheffield Town Trust
Grants
Year ended 31 December 2023
Appendix 1
Annually recurring grants
Age UK Sheffield
Asperger's Children and Carers Together
Aspire Community Enterprises (Sheffieldl
Assist Isheffieldl
Ben's Centre for Vulnerable People
CRESST (Conflict Resolution in E(Jucation)
Cavendish Can￿r Care
DECSY (Development Education Cenlrel
Disability Sheffield Centre
Emmaus Sheffield
Fareshare Yorkshire
Green City Action
Greenlop Community Circus
Heeley City Fami
Libre Digital Free Tech Project
Listening Books
MHA Communities S Yorks & Basseuaw
Paces Sheffield
Park community Action
Parson Cross Communily Dev Forum
Project Buzz Ltd
REACT
Roundabout Ltd
SY Chaplaincy & Listening Service
Sl Vincent's Furniture Store
Sl Wilfrid's Centre
Saffron Sheffield
Share Psychotherapy
SlopGap
The Cathedral Archer Project
The DATIC Trust
The Ethel Trust
The Suit Woths
Voluntary Action {Sheffield)
Young Lives vs Cancer
4,500
4,500
2.500
3,000
3,000
2,000
3,000
1,000
2,000
3,000
4,500
2,000
1,500
3,000
500
1,500
2,500
3,000
2,000
2,500
2,500
2,000
4,500
1,000
4.500
4.500
2,000
2,500
1,500
4,500
2.000
2,500
2,000
2,500
2,000
92,000
24

Sheffteld Town Trust
Grants
Year ended 31 December 2023
Appendix 1 (continued)
Non-recurring grants
50+ Contemporary Dance Sheffield
Active Independence
Barrel Organ
Best Start Manor & Castle Development Trust
British Disabled Anglin9 Association
Broomhill Community Trust
Cemetery Road Baptist Churth
City of Sheffield Diving Club
Cresst Conflict Resolution
Crookes Table Tennis Club
Deafblind UK
DINA
Element Society
Eleven Designlour FavourFte Places
Forced Enlertainmenl
Friends of Blueloop
Friends of Firth Park
Friends of Fox Glen Park
Friends of Sloneface Creative
Friends of Whirlow Brook Park
Hallam FM Cash for Kids
Hanover Tenants Associalion
Hearing Dogs for Deaf People
Hive South Yorkshire
Homeless &Roolless at Christmas
Horalio's Garden
Infinite Skills CIC
Light Peer Support Ltd
Madina Day Care Sheffield
Manor Lodge Community Primary School
Maya Productions
Meersbrook & Heeley Community Gardens Association
Molor Neurone Disease Associalion
MS Society
Music in the Round
One Vvortd Choir
Open Hands Project (Sheffield)
Opera on Location
Panalhalon Foundation
Parkrun
Parson Cross Community Development Forum
Pilsmoor Adventure Playground
Pilsmoor Baby & Toddler Group
Re-engage
1.250
4.500
3,000
2,700
2,450
5.000
3,000
1,000
2,700
1,000
1,000
2,163
1,500
1,000
3,000
1,500
3,000
3,200
1,970
4,900
2,500
3,000
3.000
2,800
2.500
3.500
2.000
2.000
2,000
2,500
3,000
3,000
3,000
2,500
3,000
2,000
2.500
3,000
3.000
1.500
2,500
5,000
2.693
2.000
Carried foNard
117.326
25

Sheffleld Town Trust
Grants
Year ended 31 December 2023
Appendlx 1 (continued)
Non-recurring grants
Brought forward
117.326
Rivelin Co
S20 Food B2nk
Schools Climate Educats'on South Yorkshire
Shawmind
Sheffcare
Sheffield & Rolherham Wildlrfe Trust
Sheffield Aspergers Parents Action Group
Sheffield Churches Council for Community Care
Sheffield Civic Tnjst
Sheffield Family Holiday Club
Sheffield General Cemetery Trust
Sheffield Music Academy
Sheffield Occupational Health Advisory Service
Sheffield Wildcats Rink Hockey
Sheffield Yoga
Side by Side
Snowdrop Project
Spinal Injuries Associab'on
Steel City Chorislers
Sliklings CIC
Studio Polpo
Sunday Centre
The Blanket Fort Club
The Brendan Ingle Foundation
The Leadmill
The No Way Trust
The Sheffield Wheal Experiment
Touey Rise Methodist Church
Under Ihe Stsrs
Upper Don Arts Community
We start in the Community
Wesley Hall Melhodisl Church
Yorkshire Art Space Society
3.000
3.000
1,500
5,000
3.000
3.000
2.250
3.000
2.000
2.000
2.000
3.000
3.000
2,250
3,000
3,400
3,000
2.000
2,500
800
2,900
1,500
2,000
2,500
2.500
2,500
2.000
3.000
3.000
1.500
2,000
2,000
2,500
196,926
26