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2024-08-31-accounts

CHARITY REGISTRATION NUMBER 523702

HALLAM COMMUNITY AND YOUTH ASSOCIATION

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

HALLAM COMMUNITY AND YOUTH ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr G Blincow
Mr A G Bone
Mr P E Curtis
Mr I P Saunders
Mr J A Coomer
Chairman Mr I P Saunders
Treasurer Mr J A Coomer
Secretary Mrs H Shenton
Charity number 523702
Principal address Hallam Grange Crescent
Fulwood
Sheffield
S10 4BD
Independent examiner M Mealing BSc FCCA
UHY Hacker Young
6 Broadfield Court
Broadfield Way
Sheffield
S8 0XF
Bankers NatWest Bank plc
42 High Street
Sheffield
S1 2GE

HALLAM COMMUNITY AND YOUTH ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 21

HALLAM COMMUNITY AND YOUTH ASSOCIATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

The trustees present their annual report and financial statements for the year ended 31 August 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.

Objectives and activities

The objects of the association are to promote the benefit of the inhabitants of the districts of Lodge Moor and Fulwood, Sheffield and the neighbourhood, to acquire and maintain land for development and use as a playground and sports field and to establish a community centre for activities promoted by the association in the furtherance of the above object.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

An annual magazine outlining all the section activities is produced and distributed to approximately 5000 homes within the local area. Almost all the groups are organised and run by volunteers whose work is much appreciated by the trustees. The trustees openly encourage all sections to look for new ideas to improve their sections and to maintain their high level of results within their activities.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance

This year has seen major improvements to the Community Hall and have involved considerable financial outlay for the Association. Early in the new year we installed projector and screen equipment for both Main and Small Halls. This allows an audience in either Hall to watch and listen to IT based presentations. A number of Sections have already made good use of the equipment and are delighted with the outcome. We hope the availability of this equipment will also encourage more external Hall users for the Association.

For many years the Community Hall has suffered from minor water ingress during heavy rainfall. It had been increasingly apparent that this half of the roof would need to be replaced, and that the cost would be considerable. The council rejected the use of traditional tiling in favour of metallic panels with insulation. This was carried out in August.

Early in the year Council became aware of the availability of a ‘Low Carbon Levelling Up’ government grant. A successful grant application was submitted for 24 PV panels with battery storage. It also made good sense to install a new roof before installation of the new PV panels. The installation of the new panels and batteries was carried out in September following the roof replacement.

Other relatively minor renovation costs saw the Small Hall flooring sanded and coated with clear polyurethane varnish. The successful ‘Warm Space’ initiative, continued over last winter, has been rebranded as ‘Coffee and Conversation’ and will continue over the winter of 2024/2025. A well-attended and excellent summer fete was organised for July. As usual, the annual Citizen magazine was delivered to local residents in May.

The interest of some members in rewilding local unused pieces of land has resulted in the formation of a Wild Spaces section. The intention is to identify suitable plots and rewild them with the permission of the owners.

A small sub-committee has been meeting throughout the year to look over the existing constitution and recommend changes for approval at a proposed Extraordinary General Meeting.

We look forward to another successful year, hopefully without major property expenditure.

Financial review

The trustees consider the financial position of the charity overall to be satisfactory.

The trustees aim to keep sufficient working reserves to cover six months unrestricted expenditure. This is considered adequate should major repairs to the premises be required that are not covered by insurance.

At 31 August 2024 the actual level of reserves was £141,308 (2023: £167,345), consisting of unrestricted reserves of £129,327, designated reserves of £10,160 and restricted reserves of £1,821. The freely available unrestricted reserves amounted to £43,808.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

Structure, governance and management

The charity was established by a charitable trust deed.

The trustees who served during the year were: Mr G Blincow Mr A G Bone Mr P E Curtis Mr I P Saunders Mr J A Coomer

New trustees are appointed to the committee as considered necessary by a majority of existing trustees.

The association is managed by monthly meetings of the trustees, officers, representatives of sections and other appointed members.

The association's constitution states that it is to be non-party in politics and non-sectarian in religion. There are no political or charitable contributions made by the association.

Asset cover for funds

Note 19 sets out an analysis of the assets attributable to the various funds and a description of any trusts. These assets are sufficient to meet the charity's obligations on a fund by fund basis.

The trustees' report was approved by the Trustees.

Mr I P Saunders

Chairman Dated: 21 November 2024

6 Broadfield Court Broadfield Way Sheffield S8 0XF

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HALLAM COMMUNITY AND YOUTH ASSOCIATION

I report to the trustees on my examination of the financial statements of Hallam Community and Youth Association (the charity) for the year ended 31 August 2024.

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 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

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 financial statements to be reached.

M Mealing BSc FCCA UHY Hacker Young

Chartered Accountants

Dated: 21 November 2024

HALLAM COMMUNITY AND YOUTH ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Unrestricted Unrestricted Restricted Total Unrestricted Unrestricted Total
funds funds funds 2024 funds funds 2023
general designated general designated
Notes £ £ £ £ £ £ £
Income from:
Donations and grants 3 10,324 - 1,996 12,320 9,897 - 9,897
Charitable activities 4 32,557 27,885 - 60,442 25,911 25,362 51,273
Bar income and fundraising activities 5 17,521 - - 17,521 12,677 - 12,677
Interest received 6 894 - - 894 504 - 504
Total income 61,296 27,885 1,996 91,177 48,989 25,362 74,351
Expenditure on:
Raising funds 7 11,236 - - 11,236 8,814 - 8,814
Charitable activities 8 85,364 20,438 175 105,977 48,715 17,501 66,216
Total resources expended 96,600 20,438 175 117,213 57,529 17,501 75,030
Net (outgoing)/incoming resources before transfers (35,304) 7,447 1,821 (26,036) (8,540) 7,861 (679)

HALLAM COMMUNITY AND YOUTH ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2024

Net (outgoing)/incoming resources before transfers
Gross transfers between funds
Net (expenditure)/income for the year/
Net movement in funds
Fund balances at 1 September 2023
Fund balances at 31 August 2024		 (35,304)
7,524
(27,780)
157,107
129,327		 7,447
(7,524)
(77)
10,237
10,160		 1,821
-
1,821
-
1,821		 (26,036)
-
(26,036)
167,344
141,308		 (8,540)
7,651
(889)
157,997
157,108		 7,861
(7,651)
210
10,027
10,237		 (679)
-
(679)
168,024
167,345

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

All income and expenditure derive from continuing activities.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

BALANCE SHEET

AS AT 31 AUGUST 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
Other creditors
17
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
18
Unrestricted funds
Designated funds
19
General unrestricted funds		 2024
£
1,743
10,838
44,120
56,701
2,733
10,160
129,327		 £
87,340
53,968
141,308
1,821
139,487
141,308		 2023
£
1,685
13,223
70,215
85,123
2,870
10,237
157,108		 £
85,092
82,253
167,345
-
167,345
167,345

The financial statements were approved by the Trustees on 21 November 2024

Mr I P Saunders Trustee

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

Charity information

Hallam Community and Youth Association is a registered charity. The principal address is Hallam Grange Crescent, Fulwood, Sheffield, S10 4BD.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Government grants are recognized at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and other sales related taxes.

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended, inclusive of irrecoverable VAT, are recognised in the year in which they are incurred and are analysed in the statement of financial activities according to the nature of the expense. No costs have been apportioned.

Costs of generating funds comprises those costs directly attributable to specific fundraising events and are included in bar and fundraising costs.

Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes costs that can be directly allocated to such activities and those costs of an indirect nature that are necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property All leasehold property costs are depreciated over the remaining term of the lease - 40 years from September 1996 Fixtures, fittings & equipment 15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

1 Accounting policies

(Continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

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.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

3 Donations and grants
Unrestricted Restricted Total Total
funds funds 2024 2023
general
£ £ £ £
Membership subscriptions, donations and gifts 8,414 - 8,414 8,069
Grants 1,910 1,996 3,906 1,828
10,324 1,996 12,320 9,897
For the year ended 31 August 2023 9,897 - 9,897
Grants receivable for core activities
Sheffield City Council- Ward Pot - 1,996 1,996 1,478
Zest 350 - 350 350
Sheffield City Council- South West Local Area
Committee 1,560 - 1,560 -
1,910 1,996 3,906 1,828
4 Charitable activities
2024 2023
£ £
Community centre activities and hall hire 60,442 51,273
Analysis by fund
Unrestricted funds - general 32,557 25,911
Unrestricted funds - designated 27,885 25,362
60,442 51,273

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

5 Bar income and fundraising activities
2024 2023
£ £
Non-charitable trading activities 17,521 12,677
6 Interest received
2024 2023
£ £
Interest receivable 894 504
7 Raising funds
2024 2023
£ £
Other bar and fundraising costs 10,546 8,484
Staff costs 690 330
Bar and fundraising costs 11,236 8,814
11,236 8,814

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

8 Charitable activities

2024
2023
£
£
Depreciation and impairment
8,259
Section activity expenditure
20,438
Maintenance of building
43,921
Cleaning
8,969
Repairs and renewals
3,516
Hire of facilities
1,575
Light, heat and water
9,521
Ground rent
1,000
Insurance
2,509
Postage and stationery
2,279
Bank charges
359
Miscellaneous
859
Broadband
1,344
104,549
Share of governance costs (see note 9)
1,428
105,977
Analysis by fund
Unrestricted funds - general
85,364
Unrestricted funds - designated
20,438
Restricted funds
175
105,977		 7,233
17,501
1,560
9,181
3,171
1,575
12,626
1,000
3,734
4,218
479
1,266
1,332
64,876
1,340
66,216
48,715
17,501
-
66,216

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

9 Support costs

Support costs
Support Governance 2024 Support Governance 2023
costs costs costs costs
£ £ £ £ £ £
Independent examiner's
fee - 1,428 1,428 - 1,340 1,340
- 1,428 1,428 - 1,340 1,340
Analysed between
Charitable activities - 1,428 1,428 - 1,340 1,340

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or any other benefits from employment with the charity or any related entity during the year. Expenses incurred on behalf of the charity by two (2023: one) trustees during the year totalling £1,252 (2023: £500) were reimbursed.

11 Employees

Number of employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Bar Staff 1 1
Employment costs 2024 2023
£ £
Wages and salaries 690 330

There were no employees whose annual remuneration was £60,000 or more.

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

13 Tangible fixed assets
Leasehold Fixtures, fittings Total
property & equipment
£ £ £
Cost
At 1 September 2023 247,154 40,694 287,848
Additions - 10,506 10,506
Disposals - (3,525) (3,525)
At 31 August 2024 247,154 47,675 294,829
Depreciation and impairment
At 1 September 2023 172,910 29,845 202,755
Depreciation charged in the year 5,712 2,547 8,259
Eliminated in respect of disposals - (3,525) (3,525)
At 31 August 2024 178,622 28,867 207,489
Carrying amount
At 31 August 2024 68,532 18,808 87,340
At 31 August 2023 74,244 10,848 85,092
14 Financial instruments 2024 2023
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 8,753 8,354
Carrying amount of financial liabilities
Measured at amortised cost 2,733 2,870
15 Stocks 2024 2023
£ £
Bar stock 1,743 1,685

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

16 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 8,753 8,354
Prepayments and accrued income 2,085 4,869
10,838 13,223
17 Other creditors falling due within one year
Other creditors falling due within one year
2024 2023
£ £
Trade creditors 1,303 1,560
Accruals and deferred income 1,430 1,310
2,733 2,870

18 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at Incoming Resources Balance at
1 September resources expended 31 August 2024
2023
£ £ £ £
Sheffield City Council- Ward Pot - 1,996 (175) 1,821

A grant of £1,996 was received from Sheffield City Council Ward Pot during the year, as a contribution towards the new AV, screens and projector sound system.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

19 Designated funds

The income of the charity includes the following designated funds which have been set aside out of unrestricted funds for specific sections:

Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 September resources expended 1 September resources expended 31 August 2024
2022 2023
£ £ £ £ £ £ £ £ £
Art group 7,030 4,523 (1,974) (1,500) 8,079 5,429 (3,996) (1,650) 7,862
Badminton 28 1,777 - (1,800) 5 1,600 - (1,605) -
Bowling - 464 - (464) - 534 - (534) -
Gardening 267 10 - - 277 - - - 277
Pilates - 640 - (640) - 1,300 - (1,300) -
Yoga 10 - - - 10 3,819 (2,925) (894) 10
Tai Chi 322 824 (100) (1,046) - 731 (17) (714) -
Westside Wine 987 6,666 (6,542) (252) 859 7,438 (7,171) (277) 849
Wine Guild 860 6,832 (6,185) (500) 1,007 7,033 (6,328) (550) 1,162
10,027 25,362 (17,501) (7,651) 10,237 27,884 (20,437) (7,524) 10,160

Income received by each section is treated as designated income by the trustees. Excess funds not required to cover section expenditure are remitted to the unrestricted fund at the discretion of the trustees periodically.

Sufficient resources are held in an appropriate form to enable the funds to be applied in accordance with their purpose.

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

20 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
Designated		 Restricted Total Unrestricted Designated Total
funds funds funds funds funds
2024 2024 2024 2024 2023 2023 2023
£ £ £ £ £ £ £
Fund balances at 31 August 2024 are represented by:
Tangible assets 85,519 - 1,821 87,340 85,092 - 85,092
Current assets/(liabilities) 43,808 10,160 - 53,968 72,016 10,237 82,253
129,327 10,160 1,821 141,308 157,108 10,237 167,345

HALLAM COMMUNITY AND YOUTH ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2024

21 Capital commitments 2024 2023
£ £
At 31 August 2024 the charity had capital commitments as follows:
Contracted for but not provided in the financial statements:
Acquisition of property, plant and equipment 22,778 -

Solar panels were ordered during the year, but were not fitted and paid for until after the balance sheet date.

During the year a grant of £20,000 from Low Carbon and Community Culture Projects was applied for successfully, and will contribute towards the above solar panels. This grant was received after the balance sheet date.