PRIORY PARK
Charity Registration No 1000195
ANNUAL REPORT & ACCOUNTS
YEAR ENDED 31[st] MARCH 2021
PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Contents
Trustee’s Annual Report .......................................................................................... 1 Statement of Trustees’ Responsibilities .................................................................. 5 Independent Examiner’s Report .............................................................................. 6 Statement of Financial Activities ............................................................................. 7 Balance Sheet .......................................................................................................... 8 Notes to the Accounts ............................................................................................. 9
Charity Registration No 1000195 Year Ended 31[st] March 2021
PRIORY PARK
Trustee’s Annual Report
The Trustee is pleased to present their report and accounts for the year ended 31 March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the Trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, Charities SORP (FRS102).
Objectives and activities
To be dedicated, held, used and enjoyed as and for the purposes of a public park for the benefit of the inhabitants of the Borough of Southend-on-Sea and the recreation of the public area.
The park covers about 33 acres of land and is one of the town’s premier parks.
Priory Park contains fishing lakes, tennis & basketball courts, four bowling greens, football and cricket pitches, cycle paths, a children’s playground, formal gardens, a café, the Southend Bandstand and the Prittlewell Priory Museum, which is itself a separate trust.
The park is administered and maintained by the Borough Council which meets any deficit incurred on running the park.
The Trustees in making decisions about the Trust make those decisions with due regard to the objects of the Trust.
In addition they have due regard to their legal duty to carry out the Trust’s charitable purposes for the Public Benefit and the Charity Commissions’ guidance thereon.
Achievements and performance
Priory Park is currently maintained to allow the purposes in its Governing document set out below to take place during the financial year 2020-21.
The financial year began with the UK in lockdown, as per the UK Government’s announcement on 23[rd] March 2020, with facilities at Priory Park affected in the following way:
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a) Temporary closure of the public toilet facilities.
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b) Temporary closure of the playground area.
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c) Temporary closure of tennis courts.
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d) Temporary closure of bowling greens and pavilion.
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e) Temporary closure of Priory Park Café (Privately operated).
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f) Temporary closure of fishing lakes.
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g) Cordoning off outdoor gym facilities.
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h) Suspension of sports and facilities hire.
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i) Installation of temporary signage regarding social distancing.
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Government restrictions meant that outdoor sports facilities were only permitted to be open for a few months in 2020/21, between 23[rd] June - 14[th] September, this meant that the facilities hire income normally raised from organised sports was reduced to zero in 2021 (2020 £2,966).
Restrictions on outdoor sports facilities were finally lifted on 29[th] March 2021 as part of Step 1 of the Government’s roadmap for lifting lockdown.
In a ‘normal’ year, as well as providing the usual recreational facilities expected in a park it is also used to stage events such as inflatable fun days, teddy bear’s picnic, circus, outdoor theatre and various charity events and acts as the finishing point for the annual charity London to Southend Bike Ride. None of these events were able to take place in 2021, reducing the fees and charges income to £143 (2020 £9,873).
Some live music was still able to take place at the Bandstand during the summer, with clearly marked areas for seating to allow for adequate social distancing. The series normally includes jazz bands, big bands, brass bands, choirs, duos, quartets, wind bands, jazz singers and many more.
Priory Parks pedestrian walkways, cycle paths, green spaces and car park remained open for all members of the public to make use of, within Government guidelines. The availability of outdoor space for the public was a vital lifeline for many for both their physical and mental health.
The Trustee considers that the performance of the charity during the year was good.
Plans for the future
The Trustees intend to continue with the current activity and maintain the standards of Priory Park.
Government restrictions and guidelines will be closely monitored and implemented where needed. The Trustees are aware of the importance of Priory Park’s many facilities and will restore their availability to all members of the public as soon as it is possible.
Financial review
The total income for the year of £164,295 (2020 £141,073) includes a donation received from Southend Borough Council General Fund of £149,163 (2020 £113,194). This donation was received to cover the unrestricted deficit created by the fact that the cost of maintaining the park exceeded the net income of the charity and the cost of works carried out on fixed assets.
Reserves Policy
The trust does not need to hold reserves as any deficit which arises on the operation of the trust, should the trust have no funds to meet it, is funded by Southend on Sea Borough Council, which is sole trustee of the trust.
Going concern
Priory Park meets the definition of a public benefit entity under FRS102. There are no material uncertainties about the charity’s ability to continue as a going concern.
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PRIORY PARK Charity Registration No 1000195 Year Ended 31[st] March 2021
Structure, governance and management
Governing documents
The Trust’s Governing document is in the form of an indenture signed on 21[st] February 1918. The original lands were then added to by conveyance on the following dates;
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31[st] December 1923
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3[rd] April 1925
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10[th] May 1929
Trustee recruitment and training
Southend Borough Council elected members are corporate Trustees. Therefore Councillors once elected become a corporate Trustee of the Trust.
Risk Assessment
The borough council, when carrying out risk assessments for its own activities, includes within the assessment the activities of the trust, so any major risks applicable to the trust are covered by the council arranging appropriate insurance or having in place strategies to cover other contingencies.
Background
Priory Park was given in trust to the Borough Council in 1918 under a conveyance between Edward William Blackburn Scratton of the first part, Edward William Howell Blackburn Scratton of the second part, and Robert Arthur Jones of the third part. The park has been extended in later years on a similar basis.
The bowls pavilion was destroyed by fire during 2002/2003 and it was written out of the Trust’s accounts in that year. A replacement has been provided by Southend-on-Sea Borough Council and has therefore become the Council’s property, and not part of the Trust’s property.
Southend Bandstand was relocated from Clifftown Parade in 2008 due to unstable cliffs there.
A cycle path runs through the park forming part of the network of cycle ways across the borough. The cost of the cycle path was paid for by The Cory Environmental Trust in Southend on Sea.
Statement of disclosure of information to auditors
So far as the trustees are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the charity’s auditors are unaware, and each trustee has taken all the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
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Charity Registration No 1000195 Year Ended 31[st] March 2021
PRIORY PARK
Reference and administrative details
Trustee
Southend-on-Sea Borough Council
Secretary/Treasurer to the Trust
Southend-on-Sea Borough Council
Address
Civic Centre Victoria Avenue Southend-on-Sea Essex SS2 6EP
Independent Examiner
TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing accounts which give a true and fair view of the state of affairs of the Charity as at the end of each financial year and the income and expenditure of the Charity for that period.
In preparing those accounts, the Trustees are required to:
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Select suitable and applicable accounting policies and then apply them consistently
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Make judgement and estimates that are reasonable and prudent
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Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the organisation will continue in business
The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with charity legislation and the relevant governing instruments. They are responsible for safeguarding the Charity’s assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results
The Trust’s financial results are as per the annexed accounts.
By order of the Trustees
----- Start of picture text -----
Signed
Joe Chesterton, Executive Director (Finance &
Resources)
Date 18 [th] March 2022
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Independent Examiner’s Report
I report on the accounts of the Trust for the year ended 31[st] March 2021, which are set out on pages 7 to 13.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Cummins FCCA
For and on behalf of TC Group Office: Steyning Dated: 23 March 2022
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Charity Registration No 1000195 Year Ended 31[st] March 2021
PRIORY PARK
Statement of Financial Activities
| 2020/21 2020/21 2020/21 |
2020/21 2020/21 2020/21 |
2019/20 | |
|---|---|---|---|
| Unrestricted Endowment Total |
Total | ||
| Funds Funds Funds |
Funds | ||
| Note | £ £ £ |
£ | |
| Income From | |||
| Donations 3 |
149,163 - 149,163 |
113,329 | |
| Investments 4 |
14,989 - 14,989 |
14,906 | |
| Charitable activities 5 |
143 - 143 |
12,838 | |
| Total Income | 164,295 - 164,295 |
141,073 | |
| Expenditure on | |||
| Charitable activities 6 |
164,295 36,951 201,246 |
159,180 | |
| Total expenditure | 164,295 36,951 201,246 |
159,180 | |
| Net expenditure and movement in funds |
- (36,951) (36,951) |
(18,107) | |
| Reconciliation of Funds | |||
| Total funds brought forward | - 747,809 747,809 |
765,916 | |
| Total funds carried forward | - 710,858 710,858 |
747,809 |
All income and gains for the year are recognised on the statement of financial activities. All the Charity's activities are classified as continuing.
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Balance Sheet
| 2020/21 | 2019/20 | |||
|---|---|---|---|---|
| Total | Total | |||
| Funds | Funds | |||
| Note | £ | £ | ||
| Fixed Assets | ||||
| Tangible Assets | 7 | 626,414 | 663,365 | |
| Investment Property | 8 | 84,444 | 84,444 | |
| Total Fixed Assets | 710,858 | 747,809 | ||
| Current Assets | ||||
| Cash at bank and in hand | 620 | 630 | ||
| Total Current Assets | 620 | 630 | ||
| Liabilities | ||||
| Creditors: Amounts falling due within one year | 9 | (620) | (630) | |
| Net current assets/(liabilities) | - | - | ||
| Total assets less current liabilities | 710,858 | 747,809 | ||
| The funds of the charity | ||||
| Endowment funds | 10 | 710,858 | 747,809 | |
| Total charity funds | 710,858 | 747,809 |
Approved by the Trustee and signed on its behalf by an authorised signatory.
Signed
Joe Chesterton, Executive Director (Finance & Resources) Southend on Sea Borough Council for the Trustee
Date 18[th] March 2022
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Charity Registration No 1000195 Year Ended 31[st] March 2021
PRIORY PARK
Notes to the Accounts
Note 1 Legal Status
Priory Park is an unincorporated charity registered in England and Wales (charity number 1000195).
Note 2 Accounting Policies
Basis of preparation
The accounts have been prepared in accordance with 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 2015) – (Charities SORP (FRS 102)), and the Charities Act 2011.
Priory Park meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There are no material uncertainties about the charity’s ability to continue as a going concern as a result of the continued support of Southend Borough Council.
Cash Flow Statement
In accordance with the Charities SORP (FRS 102) the charity is claiming exemption from the requirement to prepare a cash flow statement on account of it being a small charity.
Income
Donations and other forms of voluntary income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement.
Charitable activities - represent income from rent and are recognised when receivable.
Investment income is accounted for when receivable.
Expenditure
Expenditure is accounted for on an accruals basis exclusive of the element of VAT which is recoverable by Southend Borough Council in accordance with VAT Notice 749 para 7.5.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Tangible fixed assets and depreciation
Tangible fixed assets are capitalised at cost. Land is not depreciated. Buildings are depreciated on a straight line basis over a period between 20 and 40 years.
Investment Property
Investment property is held at fair value with movements being taken to the Statement of Financial Activities.
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments. No separate bank account is maintained by the Trust, therefore all income and expenditure passes through the Borough Council’s account, and its cash balances are held within the Borough Council’s general bank account.
Creditors and provisions
Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
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.
The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.
Note 3 Income from Donations
Donations of £149,163 (2020 £95,317) were from Southend Borough Council as the funding required to make up the operational deficit for the year. This donation is equitably apportioned across all operational trust expenditure.
Note 4 Income from Investments
| Rent Priory Park Café Rent Priory Park Bowling Pavilion Rent Priory Park Lodge (part) Interest |
2021 2020 £ £ 7,605 7,605 4,150 4,150 3,231 3,146 3 5 |
|---|---|
| 14,989 14,906 |
| Note 5 Income from Charitable Activities Facilities Hire Fees & Charges |
2021 2020 £ £ - 2,966 143 9,872 |
|---|---|
| 143 12,838 |
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Note 6 Cost of Charitable Activities
| Charitable Activities | |
|---|---|
| 2021 2020 |
|
| £ £ |
|
| Employees | 44,289 30,980 |
| Building/Ground Maintenance | 81,993 57,162 |
| Utilities | 25,253 18,289 |
| Transport | 264 472 |
| Insurance | 3,826 5,917 |
| Supplies & Services | 7,707 9,432 |
| Depreciation | 36,951 35,984 |
| Governance costs | 620 630 |
| Administration | 343 314 |
| 201,246 159,180 |
The support costs incurred are the administration services provided by Southend Borough Council and governance costs. Total support costs for the year were £963 (2020: £944).
Governance costs comprise solely of fees paid to independent examiners. During the year £620 (2020: £630) was paid to the independent examiner in respect of examination services.
Employee costs relate to employees of the Council.
No staff were remunerated over £60,000 in the year.
The charity is managed by Southend Borough Council and doesn’t have any key management personnel.
Note 7 Fixed Assets
| Freehold Land | |
|---|---|
| & Buildings | |
| £ | |
| Asset cost, valuation or revalued amount | |
| Balance brought forward @ 01/04/20 | 920,770 |
| Balance carried forward @ 31/03/21 | 920,770 |
| Accumulated depreciation and impairment | reviews |
| Balance brought forward @ 01/04/20 | 257,405 |
| Charge for the year | 36,951 |
| Balance carried forward @ 31/03/21 | 294,356 |
| Net Book Value | |
| Brought forward @ 01/04/20 | 663,365 |
| Carried forward @ 31/03/21 | 626,414 |
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PRIORY PARK Charity Registration No 1000195 Year Ended 31[st] March 2021
Note 8 Investment Property
Investment Property
£
| Fair Value Balance brought forward @ 01/04/20 Revaluation Balance carried forward @ 31/03/21 |
84,444 - |
|---|---|
| 84,444 |
The charity’s investment property consists of the Priory Park Café and was valued on 31 March 2019 by Jamie Redden MRICS.
Note 9 Creditors
Amounts falling due within one year
| Other Creditors | 2021 2020 £ £ |
|---|---|
| 620 630 |
Note 10 Endowment fund
The endowment fund arose from the donations of land as outlined in the background section of the trustees report.
Note 11 Trustee remuneration
No trustee was paid in respect of their services as a trustee in 2020 or 2021 and no expenditure was reimbursed.
Note 12 Related Party Transactions
During the year the trustee (Southend Borough Council) donated £149,163 (2020: £113,194) to the Trust in respect of the funding required to cover the operational deficit for the year and to cover the cost of works required on the fixed assets of the trust. Southend Borough Council collected a further £15,132 (2020: £27,875) on behalf of the Trust in respect of investment income and income generated from facilities hire. The Trust paid the Council £163,676 in respect of operating costs for the year (2020: £122,566).
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PRIORY PARK
Charity Registration No 1000195 Year Ended 31[st] March 2021
Note 13 Comparative Funds
| Note 13 Comparative Funds | |
|---|---|
| 2019/20 2019/20 2019/20 |
|
| Unrestricted Endowment Total |
|
| Funds Funds Funds |
|
| restated restated Restated |
|
| Note | £ £ £ |
| Income From | |
| Donations 3 |
95,452 17,877 113,329 |
| Investments 4 |
14,906 - 14,906 |
| Charitable activities 5 |
12,838 - 12,838 |
| Total Income | 123,196 17,877 141,073 |
| Expenditure on | |
| Charitable activities 6 |
123,196 35,984 159,180 |
| Total expenditure | 123,196 35,984 159,180 |
| Net income and movement in funds | - (18,107) (18,107) |
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