SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
11426514 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 688 1,080
Total fixed assets: 688 1,080
Current assets
Debtors: 4 7,508
Cash at bank and in hand: 60,485 34,114
Total current assets: 60,485 41,622
Creditors: amounts falling due within one year: 5 ( 29,104 ) ( 21,919 )
Net current assets (liabilities): 31,381 19,703
Total assets less current liabilities: 32,069 20,783
Provision for liabilities: ( 131 ) ( 205 )
Total net assets (liabilities): 31,938 20,578
Members' funds
Profit and loss account: 31,938 20,578
Total members' funds: 31,938 20,578

The notes form part of these financial statements

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 28 March 2025
and signed on behalf of the board by:

Name: Richard Kirtley
Status: Director

The notes form part of these financial statements

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Grants Grant income is recognised in the period in which the related expenditure occurs, any unspent grant is treated as deferred income. Grants received for capital items are released to the profit and loss account in line with the depreciation rate of the asset.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Computer Equipment - 3 years

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 3

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 3,123 3,123
Additions 973 973
Disposals
Revaluations
Transfers
At 30 June 2024 4,096 4,096
Depreciation
At 1 July 2023 2,043 2,043
Charge for year 1,365 1,365
On disposals
Other adjustments
At 30 June 2024 3,408 3,408
Net book value
At 30 June 2024 688 688
At 30 June 2023 1,080 1,080

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Trade debtors 6,759
Other debtors 749
Total   7,508

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,114
Taxation and social security 12,889 1,885
Accruals and deferred income 15,101 804
Other creditors 19,230
Total 29,104 21,919

COMMUNITY INTEREST ANNUAL REPORT

SHEFFIELD SOCIAL ENTERPRISE NETWORK COMMUNITY INTEREST COMPANY

Company Number: 11426514 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

During the year we increased the size of our board to eight directors, to bring additional representation, insight and experience in preparation for expanding the scale of the network. Following our departure from the Social Enterprise Exchange consortium on 30 June 2023 and the departure of the previous Network Co-ordinator, Terry Murphy was appointed to the new role of CEO, tasked with leading the organisation through a new phase of development and growth. The Administrator and Events coordinator took on the new role of Network Development Lead, responsible initially for the development and delivery of a new group peer mentoring programme, which by the end of the period had seen 25 social enterprise leaders participating in structured, facilitated networking activity. In addition to delivering this capacity building activity, supported by the Connect Fund, we continued our own extensive piece of business development work supported by the Reach Fund. This work resulted in the building of closer relationships with Business Sheffield and the Sheffield Chamber of Commerce, and lead on to the formation of a steering group, which also included Sheffield City Council and South Yorkshire’s Community Foundation, focusing on the development of a new infrastructure for delivering social enterprise support in the city. In November, following a successful tender process, we took on the role as lead partner for the Social Enterprise Growth Accelerator Programme (SEGA), a dedicated support programme for new and growing social enterprises in the Sheffield area. Benefits to enterprises on the programme included one year’s free membership of the Chamber of Commerce, and access to a growth grant via South Yorkshire’s Community Foundation of up to £1,000. Taking on the SEGA programme contract enabled us to appoint an additional three part-time staff roles to the team. Following a period of recruitment, our new Network Advisor, Events & Marketing Co-ordinator and Network Administrator joined us in January 2024. We also built and onboarded a team of associate consultants to provide specialist advice and mentoring to enterprises on the programme. We had supported 91 enterprises by the end of the period, working directly with them to develop their plans for growth and increased resilience. The SEGA programme also allowed us to upscale our programme of events. During the period we held 32 events, all aimed at providing information, inspiration and opportunities for networking and connection. Over the year there were 590 attendances at events which included netwalking, breakfast networking, lunchtime sharing, CPD sessions and social events. In addition, we held an annual social enterprise conference in November 2023 which was attended by 98 people. The event was live streamed for the first time, allowing a further 45 people to participate from outside of Sheffield City Centre. Our subscriber list continued to grow over the period. By the end of the year our newsletter was going out to more than 1,800 people across the city updating them on social enterprise news and opportunities. Over the period we continued to develop our connections with policy makers and other important stakeholders including nationally with Social Enterprise UK and through the Social Enterprise Places initiate. We continued our work as a partner in the group tasked with steering the process of developing the Sheffield City Goals, maintained our key role in the Sheffield VCS Leaders forum, and continued to participate in the steering group for Sheffield’s Food Partnership (ShefFood). We continued to advocate for social enterprise at every opportunity, including by working with Sheffield City Council to support their recruitment to a VCS Partner policy role.

Consultation with stakeholders

As a membership body, we have strived to provide opportunities for people to shape and influence our work. We held an extensive consultation session for members as part of our AGM in May 2024, and provided opportunities for social enterprises to input and share their at all of our events over the period. As part of plans to relaunch our membership offer in the Autumn of 2024, we held a number of one to one consultation sessions with members where views were solicited on the direction of the network and the support required. The initial, in-depth diagnostic sessions held with individual enterprises as they began their journeys on the SEGA programme also proved to be a really useful way of gathering views and gaining insight into the needs of the sector, as did ad-hoc meetings with enterprises and potential members who met with us to find out more about the network. Over the period, in depth interviews continued to be carried out by the University of Sheffield as part of a major ongoing research piece looking at the state, impact and potential of the city’s social enterprise sector. Interviews also took place regularly by the independent evaluators of the SEGA programme. All this activity will provide some rich data on the support and development needs of the local sector. Consultation with key stakeholders in the city has remained key to our work, and we have continued to hold one to one meetings with SYMCA, Sheffield City Council, Business Sheffield, Sheffield Chamber of Commerce, both Universities and with members of the Social Enterprise Places steering group to ensure that our programmes are strategically aligned and that duplication is minimised, so as to maximise opportunities for growth of the social enterprise sector in the city.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 March 2025

And signed on behalf of the board by:
Name: Richard Kirtley
Status: Director