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2022-03-31-accounts

ABNEY PARK TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Registered Company 02634036

Registered Charity 1005334

The roof and high windows of Abney Park’s historic chapel, captured June 2021 before renovation began National Lottery Heritage Fund-supported renovation. Credit: Fred Adams pastpictorial.co.uk

ABNEY PARK TRUST

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

CONTENTS Page
Reference and Administrative Details 1
Trustees’ report 2 – 10
Independent examiner’s report 11
Statement of financial activities 12
Balance sheet 13
Notes to the financial statements 14 - 21

ABNEY PARK TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

Company registration number 02634036
Charity registration number 1005334
The Board of Trustees Alison Bean
Aroa Fernandez Alvarez (resigned 8.9.21)
Roger Chapman (resigned 20.10.21)
Martina Girvan (appointed 8.9.21)
Carol Goldwag
Kate Jones (resigned 4.7.22)
John McShane
Benjamin Pass (appointed 8.9.21)
Felicity Jane Premru (appointed 27.5.22)
Elinor Roberts (appointed 21.8.21)
Alison Rulton-Reed (appointed 8.9.21)
Dr Eva Rachel Sharpe (resigned 20.10.21)
Christopher Sherwood (appointed 8.9.21, resigned 13.10.21)
Holly Spice (resigned 8.9.21)
Nicholas Toner
Tom Walker (Chair)
In addition, two representatives of Hackney Council sit or sat on the Board:
Cllr Polly Billington (resigned 17.5.22)
Cllr Susan Fajana-Thomas
Cllr Felicity Premru (appointed 27.5.22)
Company Secretary Nicholas Toner
Registered Office & Principal address The South Lodge
Abney Park
Stoke Newington High Street
London
N16 0LH
Bankers HSBC
312 Seven Sisters Road
Finsbury Park
London
N4 2AW
Independent examiner JS2 Limited
One Crown Square
Woking
Surrey
GU21 6HR

1

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Description of the charity

Abney Park Trust (the Trust) is a company limited by guarantee (registration number 02634036) and a registered charity (registered number 1005334). The Trustees are also Directors of the company.

The Trust is governed by its memorandum and articles of association and its registered office is The South Lodge, Abney Park, Stoke Newington High St, London N16 0LH.

The governance and management of the Trust is provided by the Board of Trustees elected by the members and operating in accordance with the articles of association.

The Trust advertises for new trustees when these are required. Between Annual General Meetings, potential new Trustees submit their CV and reasons for wanting to be a Trustee. They are then interviewed by two current Trustees, the Chair, and, if considered suitable, a recommendation is made to the rest of the Board who will then decide whether or not to appoint them. They are then formally put forward for election at the Annual General Meeting. Councillor Trustees are made by nomination from the London Borough of Hackney.

The Trust sends new Trustees an induction pack of documents relating to the Trust (including the governing document and the policies and procedures in place) and Charity Commission guidance on the duties of charity Trustees. The Trust also invites new Trustees to observe the meetings of the Board and spend time at Abney Park with staff members.

Abney Park is a 32-acre park in Stoke Newington in the London Borough of Hackney (Hackney Council). It was formerly a garden cemetery and includes densely wooded grounds based on a Victorian arboretum. It also contains operational buildings, listed historic monuments, tens of thousands of memorials, and a disused but recently stabilised Grade II listed funerary chapel which is Europe’s oldest surviving non-denominational chapel. Abney has significant historical, religious, genealogical, museum/archival, ecological and architectural importance.

Abney Park:

The Trust occupies Abney Park under a Licence to Occupy from Hackney Council. The arrangement between the Trust and Hackney Council is governed by a Memorandum of Understanding.

Trust management

Details on the Trust’s Board composition and staffing position are later in this report.

In the period covered by this report we have maintained the rationalised subcommittee structure with two subcommittees. Our committees are made up of Trust staff, Trustees and volunteers with expertise in relevant fields.

There are two subcommittees which meet regularly and report to the APT Board at each meeting.

2

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Events Committee

Our Events Committee manages the Trust’s busy programme of events including both on site and online virtual events. It also discusses and coordinates any event proposals that come in from external organisations.

Committee members for the reporting period: Irena Goldwag (Trustee), Liz Parr (Volunteer, resigned 31st January 2022), Dr Romany Reagan (Volunteer), Haydn Schaare (APT staff), Dr Eva Sharpe (Trustee, until 20th October 2021), Holly Spice (Vice Chair of APT, until 8th September 2021), Nick Toner (Trustee), Lorraine Tillett (Chair of Abney Park User Group), Zach Young (APT staff, until 7th January 2022), Elinor Roberts (Trustee from 28th August 2021) and Martina Girvan (Trustee from 8th September 2021).

Fundraising Committee

Our Fundraising Committee coordinates the Trust’s philanthropic approaches, corporate fundraising, grant writing and other fundraising projects.

Committee members: Aroa Fernandez Alvarez (Trustee, until 8th September 2021), Alison Bean (Treasurer), Kate Jones (Trustee until 4th July 2022), Nick Toner (Trustee), Alison Rulton-Reed (Trustee from 8th September 2021), Ben Pass (Trustee from 8th September 2021) and Tom Walker (Chair of APT)

Risk assessment

A comprehensive risk register was introduced during the previous reporting period and is reviewed periodically by the Board. The main risks revolve around:

3

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Objects of the Trust

The objects for which the Trust is established, as set out in its articles of association, are:

  1. The conservation and restoration for the benefit of the public of the property known as Abney Park or Abney Park Cemetery (Abney) as an area of architectural and ecological significance, and historical and religious associations.

  2. To promote the benefit of inhabitants of London and in particular the Borough of Hackney without distinction of race, gender, sexual orientation or of political, religious or other opinions by associating the local authorities, voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.

  3. The advancement of public education by the establishment and display of a collection or collections of information literature manuscripts and artefacts concerning the history, development, associations and ecology of the cemetery.

The work of the Trust

The Trust works to achieve the Trust’s charitable objectives, which includes promoting Abney as an inner-city heritage and community resource. This involves:

The Trust is also a member of the Abney Park Development Board set up by Hackney Council to secure funding for Abney through a National Heritage Lottery Fund bid and decide on the future development of Abney. That Board now helps oversee the development of the project.

Recovery from COVID 19 – 2021/22

The reporting period covered by this Annual Report has seen us emerge in a healthy position despite the challenges of COVID 19. In partnership with Hackney Council we complied with all guidance to maintain a COVID secure working environment. While this imposed constraints it has also forced us to be creative. During the reporting period we have slowly been able to return to more direct public engagement, including the reopening of our visitor centre in May 2021 shortly before the restoration project began on site.

During the year we have continued to work in a hybrid way. The Board and subcommittees continued to meet virtually, with the Board only meeting in person again in June 2022. Staff have worked from home, from our office, and since the restoration project began from a shared temporary accommodation on site.

Our events have pivoted back to ‘in person’ and onsite events and are detailed below.

4

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Activities during 2021/2022

The following activities were carried out throughout the year to achieve the Trust’s charitable objectives:

Events and engagement

COVID 19 provided a shock to the Trust’s operating model. In the previous period all events moved online.

During 2021/22 we have been able to return to on site events, albeit operating carefully within the COVID secure guidance in the early part of the reporting period. This meant limited numbers and increased the preparation time needed and amount of compliance required. We are pleased to have standardised and simplified procedures in the later part of the year with help from council officers.

With the commencement of the building works the site has been more limited in terms of access and use. This has not inhibited the range of talks and walks we put on, but has meant that the larger events the Trust ran before 2020 have not been possible, for example the summer and winter fayres and the summer theatre productions.

Despite these restrictions - and thanks to our fantastic staff - we have populated a wide-ranging programme of events.

There are key dates in the Abney calendar including the marking of the Coronation Avenue tragedy (commemorated by the Civilian War Memorial) in October, Remembrance Sunday in November and the park’s anniversary in May. Alongside these we put on a range of regular tours and experiment with new collaborations and partnerships.

In terms of events, we held 42 events in total, of which 21 were history-themed talks or tours, seven were nature-themed talks or tours, 11 were culture/art-themed talks or tours, two were community events and memorials, and one was our Annual General Meeting.

We sold or gave out 758 tickets for these events.

Particular highlights included:

This is on top of an ongoing series of regular walks.

Other notable occasions over the course of the year included a number of tours with Simon Cole of Hackney Tours, plus an after-dark bat walk allowing participants to join in a survey to see exactly which species of bat could be found in the park. We also experimented with a moth walk one late summer evening.

Underpinning all this is the work of the Events Committee which meets (usually) monthly. In this reporting period, it streamlined its meetings to focus more closely on key aims – including diversity of event type to appeal to as wide an audience as possible, building long-term relationships with collaborators and event leaders, and (where appropriate) encouraging revenue generation.

Online and digital presence

We have continued to improve our online presence, albeit with fewer online events this year. Our refreshed website has more content and is a permanent archive of talks and events.

We have developed a microsite with a repository of key information about the National Lottery Heritage Fund restoration project. This included key documents and mini podcast interviews with the site manager.

We also continued to use social media more actively both to promote the park, engage the community and forge new collaborations. We have made many new links this way and get interest from across the UK, and occasionally from abroad.

We produce a short monthly email bulletin which is sent to roughly 2,500 subscribers. Since September 2021 it has included a full update from the Trust’s Chair and these updates are included in the news pages on our website.

5

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

In total we received 72,821 new users to our website in this period.

In this period the park received around 16 mentions in national, local or sector print/online press of note including Metro, Harper's Bazaar, Hackney Citizen, Conde Nast Traveller and Museums Journal (which carried a full-page piece written by a Trustee).

On broadcast, a particular highlight of this period was the filming of "Jay Blades: No Place Like Home" for Channel 5, which featured our former Trust Manager. This was filmed during this reporting period and screened during the next one.

Grave searches

One of our most important roles is offering a grave search facility for those looking for relatives, friends or historic figures. Our team responds to these questions with dedication and compassion.

Abney Park Trust received in the region of 170 enquiries about grave searches and burial records from relatives of those buried in Abney Park in 2021/22. Approximately 60 of these, where the records allowed, led to a full grave search. The grave search includes APT members of staff physically locating the grave site and either supporting the family to view the site or providing pictures and a copy of the burial records kept by the cemetery. This is never a straightforward process given the nature of the site and the often haphazard approach to burials during the 1960s and 70s.

If the grave cannot be found APT staff will provide whatever information is available as well as background about the development of the site as a cemetery.

Monument maintenance and restoration

We have remained focused on promoting the history and stories of Abney Park.

During the reporting year we maintained our commitment to cleaning and maintaining the Commonwealth War Graves on the site, working with the Commonwealth War Graves Commission (CWGC). We maintain both individual Commonwealth War Graves and also the Commonwealth War Memorial at the heart of the park. We maintain the latter despite occasional misuse by members of the public. We are very grateful for the grant funding we receive from the CWGC to support this work.

We were delighted to host a delegation from the War Graves Commission in the autumn of 2021. Vice Chairman Sir Bill Rollo and a team from the Commission attended the site and commended the work we have done.

In relation to listed monuments in the park, our team has prepared a preliminary assessment of work needed to maintain or repair a dozen listed monuments. We hope in the medium term to secure funding for these monuments.

Towards the end of this reporting period, in collaboration with author and writer Sharon Wright, we began preparation for a campaign to raise money to pay for a gravestone for female Victorian aeronaut pioneer Mrs Graham. The campaign began publicly in May 2022 and successfully raised £5,000 by August 2022.

National Lottery Heritage Fund restoration project

In January 2020 Hackney Council secured funding from the National Lottery Heritage Fund for a major programme of restoration work for the park and its amenities. This is a huge opportunity for the park and we are grateful for many of our predecessors who campaigned over many years to protect and save the park.

Although the Trust is not directly accountable for the project we are hugely impacted by it and have worked actively with Hackney Council to make it a success.

In this reporting period, the work began on site. This is a profound change to the park and has seen a visible impact, for example:

6

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The temporary site compound was created in October 2021 and the Trust was delighted to join the groundbreaking ceremony in October 2021 with the Mayor of Hackney, Councillors and other local representatives.

We have participated fully in negotiations with the council and we have provided information to the public about what is happening on site, using #AbneyRestoration on social media and our own microsite pages.

This is a fantastic opportunity for Abney Park to become a major London landmark when the works are completed.

Although the work is very disruptive for the Trust, we have continued to meet our charitable objectives with real determination and flexibility.

Staffing

In terms of staffing, we employed two part-time members of staff throughout the year.

Both of our staff members have shown outstanding leadership and personal resilience coping with the challenges of COVID 19 and the disruption caused by the restoration project. The Board would like to record its formal acknowledgement of their work, professionalism and dedication during this period.

Towards the end of the period in December 2021 one of our Trust Coordinators, Zach Young, decided to move to a new role at the Museum of the Order of St John. After 21 months with us through an extraordinary time we were sorry to see Zach move and we thank him for his contribution. We were pleased to be able to give his career a good start in the heritage industry. The Trust decided, given a more stable operating environment, to increase the hours and pay rate for the role and reset it as a Trust Manager.

We recruited between January and March. Unfortunately our preferred candidate withdrew a week before she was due to commence in post. We made an offer to another candidate who started in post in April 2022. At the time of writing the vacancy has risen again and the Trust will consider the options for the role in light of the postrestoration project arrangements with Hackney Council.

Hackney Council now employs a full time on site manager with further appointments to be made, such as a volunteer coordinator. We will work together to make sure our roles add value to the work of the council.

Volunteer support

We rely on volunteers immensely to support the maintenance of the park and the work of the Trust. We are pleased that our volunteering work has restarted. This includes:

We have a steady number of volunteers across these activities:

We also continue to work with Hackney Council on Abney Unearthed - the project to re-map Abney Park. This aims to create an online searchable map, add missing information to the burial records, research the various residents of Abney Park and bring their stories to light. The project was funded by NLHF and Hackney Council and is now part of the Activity Plan which sits alongside the wider restoration project.

7

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Since resuming, volunteer numbers have averaged around 10-13 people per week, as they have in previous years. Abney Unearthed has now checked the burial details of almost 43,000 people, adding 842 missing entries.

Abney Unearthed has focused on the number of common graves on the site and the headstones of 700 people buried in common graves have been noted. The precise number of common graves in Abney Park Cemetery is not known.

Fundraising

The Trust remains incredibly grateful to everyone who has contributed financially to its work. This includes generous donations from across our community.

We have maintained our CAF donation page, initially started in May 2020, and we have received a steady stream of small donations throughout the year. This has totalled £7,581 over the year for one-off donations, direct debits and Gift Aid.

We secured a £2,500 grant from Hackney Council as part of their Hello Again, Hackney campaign and cultural venues re-opening fund to welcome people back to venues in the borough. This has enabled us to do a programme of engagement targeted on harder to reach households, and to pay collaborators to work with schools and other organisations.

And we were very pleased to receive in March 2022 a £1,330 donation from Whole Foods Market’s Store Giving programme. Whole Foods is one of our close neighbours in Stoke Newington.

We have been lucky to receive some funding through various COVID recovery payment schemes and remain in a relatively strong financial position for the short to medium term.

We submitted one grant application to the Hackney Council Community Fund for a programme of monument restoration in March 2022. The bid was unsuccessful but we hope to use the preparatory work for future bids.

Board composition

As the year has passed we have continued to make changes to the Board to bring in the skills we need. This has also reflected the fact that working patterns, locations and time commitments of Trustees vary and inevitably people move on.

During the year we said goodbye to our Deputy Chair, Holly Spice and long serving Trustees Roger Chapman and Eva Sharpe and then Aroa Fernandez Alvarez. They all made a big contribution in recent years and we are particularly grateful to Holly for acting as Deputy Chair.

In summer 2021 we recruited five new trustees, although one stood down for personal reasons shortly after appointment. The new Trustees brought in much needed experience in fundraising, ecology, events and legal expertise. Nick Toner became Deputy Chair.

The Board is now in a strong position although we plan for constant change given the nature of the commitment people make against other professional and personal commitments. We are planning for a handover of the Treasurer role in late 2022.

8

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Looking ahead

Writing in autumn 2022, we are in the middle of a transition as the restoration project continues.

Once finished, the park will be completely transformed. We will have new premises, a welcoming environment and access to the chapel to put on events. Hackney Council will employ more staff, leading on areas that the Trust has previously made the running on. The park itself should become self-financing, with revenues from weddings and other Hackney events ringfenced for the park’s use.

We are confident about those opportunities and, at least at a high level, the role Hackney Council sees for us. But we are in the middle of working that out in more detail.

We now have some discretion about the staff we can bring in and how we shape the role. And our advantages as a small charity mean we can mobilise community input and funding that is complementary to taxpayer investment.

We have some recent achievements to really proud of:

It is an exciting yet challenging time for the Trust and we look forward to the restoration work completing and further opportunities to meet our objectives.

FINANCIAL REVIEW

Finance

The Trust continues to manage its finances effectively. Overall, the Trust has maintained good progress towards becoming self-financing.

Sources of income, other than the London Borough of Hackney core grant, represented 73.9% of the overall income of the Trust in 2021/22. This was up 3.1% from 70.8% in 2020/21. This breaks down as:

Other grants from London Borough of Hackney: 19.9% (up 19.9%)

Charitable activities: 10.0% of income (up 4.4% - see note 3 for a breakdown)

Trading activities: 1.0% of income (down 0.7% - see note 4 for a breakdown)

Donations & legacies: 9.9% of income (down 23.4% - see note 2 for a breakdown)

Other grants: 33.1% of income (up 2.9% - see note 2 for a breakdown)

COVID 19 meant our office was closed for some of this financial year and that we were unable to hold many events in the park. The loss of income from grave services, hires and face-to-face events was offset by donations and grants, and income from online events.

The staff time required to raise non-core funds continues to be significant. The cost of fundraising represents 12.0% of our total expenditure, with the remaining 88.0% spent on charitable activities, a decrease of 1.7% of expenditure spent on charitable activities in comparison with the previous year.

Reserves policy

Our reserves remain healthy. The Trust retains reserve funds sufficient to finance core activities for three months and other exceptional costs including redundancies if existing income streams were to cease.

Reserves are held in an interest-bearing deposit account.

9

ABNEY PARK TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Preparation of the report

This report has been prepared taking advantage of the small companies’ exemption of section 415A of the Companies Act 2006.

It was approved, and authorised for issue, by the Trustees on 12th October 2022 and signed on its behalf by:

Tom Walker, Chair of Abney Park Trust

10

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

OF ABNEY PARK TRUST

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2022 as set out on pages 12 to 21.

Responsibilities and basis of report

As the charity's trustees, 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.

This report is made solely to the charity's trustees, as a body. My work has been undertaken so that I might state to the charity's trustees those matters which I am required to state to them in an independent examiners report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to any party other than the charity and charity's trustees as a body, for my examination, for this report, or for the statement I have given below.

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 which gives 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 accounts to be reached.

JOHN SPEED FCA FCIE

JS2 Limited One Crown Square Woking Surrey GU21 6HR

Date: 26 October 2022

11

ABNEY PARK TRUST

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022

Note
INCOME
Income from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investments: Bank interest
TOTAL INCOME
EXPENDITURE
Expenditure on:
Raising funds
Charitable Activities
TOTAL EXPENDITURE
5
Balances brought forward
Balances carried forward
Net income/
Net movement in funds		 Unrestricted
Funds
2022
£
12,911
7,616
766
3
21,296
4,931
3,481
8,412
12,884
36,819
49,703		 Restricted
Funds
2022
£
35,273
-
-
35,273
-
32,773
32,773
2,500
-
2,500		 Total
Total
Funds
Funds
2022
2021
£
£
48,184
63,460
7,616
3,739
766
1,178
3
3
56,569
68,380
4,931
4,938
36,254
42,965
41,185
47,903
15,384
20,477
36,819
16,342
52,203
36,819

There are no recognised gains or losses other than those shown in the Statement of Financial Activities.

All income and expenditure in each of the above two years derive from continuing activities.

The accompanying notes form part of those financial statements

12

ABNEY PARK TRUST Registered Company number 02634036 BALANCE SHEET

AS AT 31 MARCH 2022

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due
within one year
10
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted funds
11
Unrestricted funds: General fund
11		 £
£
£
528
646
2,328
53,725
35,771
54,371
38,099
(2,696)
(2,328)
51,675
52,203
2,500
49,703
52,203
2022		 £
1,048
35,771
2021
36,819
-
36,819
36,819

For the year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. They were approved and authorised for issue by the directors on 12th October 2022 and signed on their behalf by:-

TOM WALKER, Chair

ALISON BEAN, Treasurer

The accompanying notes form part of those financial statements

13

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

1.1 Statutory information

Abney Park Trust is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address and principal place of business is The South Lodge, Abney Park, Stoke Newington High Street, London, N16 0LH.

1.2

Basis of accounting and preparation

These financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Charity is a public benefit entity for the purposes of FRS 102 and therefore has also prepared the financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and the Charities Act 2011.

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the Charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. The trustees have reviewed our forecasts and concluded that there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

1.3 Income

Income is accounted for when it is probable that the income will be received and the amount can be measured reliably.

1.4 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

1.5 Stock

Stock is measured at the lower of original purchase cost and net realisable value at the balance sheet date. Stock is excluded from the balance sheet, as the year end balance is immaterial.

1.6 Fixed assets and depreciation

Assets are capitalised where the purchase price exceeds £1,000. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:-

Stage 33% Straight line Office equipment 25% Straight line Furniture and fittings 25% Straight line

1.7 Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

1.8 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

14

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

1.9 Financial instruments

The company 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 in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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.

With the exception of any prepayments and deferred income, all debtor and creditor balances are considered to be basic financial instruments under FRS 102.

1.10 Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Association and which have not been designated for other purposes.

Restricted funds are funds to be used in accordance with the specific restrictions imposed by donors or which have been raised for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.11 Employee benefits

Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits

Termination benefits are accounted for on an accrual basis and in line with FRS 102.

1.12 Irrecoverable VAT

Irrecoverable VAT is written off as incurred.

1.13 Areas of critical judgement & estimation

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

1.14 Volunteer time

The Charity works with a number of volunteers who help conserve and improve the landscape at Abney Park. The contribution of this time has not been included in income in the financial statements as the value of this time cannot be reliably measured.

15

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

2. INCOME FROM DONATIONS AND LEGACIES

London Borough of Hackney
Historic England
National Heritage Lottery Fund
Fresh & Wild
Total grants
Donations including gift aid
Commonwealth
War Graves Commission		 Unrestricted
Funds
2022
£
-
-
-
1,330
4,000
5,330
7,581
12,911		 Restricted
Funds
2022
£
35,273
-
-
-
-
35,273
-
35,273		 Total
Total
Funds
Funds
2022
2021
£
£
35,273
20,000
-
6,667
-
10,000
1,330
-
4,000
4,000
40,603
40,667
7,581
22,793
48,184
63,460

Of total donations and legacies received the year to 31 March 2021, £20,000 from the London Borough of Hackney and £10,000 from the National Heritage Lottery Fund were restricted, with the balance being unrestricted.

3. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
2022
£
Grave search & maintenance
1,965
Education and events
(including guided tours)
5,651
7,616
4.
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
2022
£
Theatre event
-
Shop income
766
766		 Restricted
Funds
2022
£
-
-
-
Restricted
Funds
2022
£
-
-
-		 Total
Funds
2022
£
1,965
5,651
7,616
Total
Funds
2022
£
-
766
766		 Total
Funds
2021
£
1,877
1,862
3,739
Total
Funds
2021
£
729
449
1,178

16

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

5. EXPENDITURE

CURRENT YEAR

Raising funds
Charitable activities		 Direct Staff
costs
£
2,739
19,175
21,914		 Direct
costs
£
240
3,412
3,652		 Support
costs
£
1,952
13,667
15,619		 Total
Total
2022
2021
£
£
4,931
4,938
36,254
42,965
41,185
47,903

Support costs are detailed in Note 6 and are allocated on the basis of direct staff costs.

PRIOR YEAR

Raising funds
Charitable activities		 Direct Staff
costs
£
2,650
18,547
21,197		 Direct
costs
£
63
8,848
8,911		 Support
Total
costs
2021
£
£
2,225
4,938
15,570
42,965
17,795
47,903

6. SUPPORT COSTS

Governance costs:
Independent examination
Other support costs
Staff costs
Telephone and internet
Website
Insurance
Alarm system
Small IT equipment
Other office costs
Accountancy
Marketing
Depreciation
Bank charges		 Total
Total
2022
2021
£
£
1,230
1,164
1,230
1,164
5,479
5,299
718
564
373
511
2,436
2,465
786
922
776
1,254
1,136
2,565
1,574
1,673
519
853
520
520
72
5
15,619
17,795

17

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

7. EMPLOYEE AND KEY MANAGEMENT PERSONNEL

The key management personnel of the Charity comprise the trustees (“Directors” for the purposes of the Companies Act) and all members of staff. The total amounts paid in respect of the key management personnel of the Charity (including employer's National Insurance contributions and employers pension contributions) were £27,393 (2021: £26,496). None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year or the previous year. One trustee was reimbursed expenses in the year of £168 (2021: 1 trustee was reimbursed expenses totalling £31).

The aggregate payroll costs were:
Wages and salaries
Employer pension contributions		 2022
2021
£
£
26,592
25,756
801
740
27,393
26,496

There were no employees earning over £60,000 in the year or the previous year.

Particulars of employees:

The average headcount during the year was as follows:

2022 2021
No. No.
1.8 2.0

8. TANGIBLE FIXED ASSETS

Stage
Cost
At 1 April 2021
3,000
Disposals
-
At 31 March 2022
3,000
Accumulated depreciation
At 1 April 2021
3,000
Charge for the year
-
Released on disposal
At 31 March 2022
3,000
Net book value
At 31 March 2022
-
At 31 March 2021
-		 Short
Leasehold
17,323
-
17,323
17,323
-
17,323
-
-		 Office
Equipment
16,451
(9,372)
7,079
15,403
520
(9,372)
6,551
528
1,048		 Furniture
& Fittings
£
19,903
(14,903)
5,000
19,903
-
(14,903)
5,000
-
-		 Total
£
56,677
(24,275)
32,402
55,629
520
(24,275)
31,874
528
1,048

18

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

9. DEBTORS
Prepayments
Other debtors
10. CREDITORS: amounts falling due within
one year
Accruals		 2022
£
646
-
646
2022
£
2,696
2,696		 2021
£
971
1,357
2,328
2021
£
2,328
2,328
11. FUNDS
FUNDS IN THE CURRENT
Restricted funds:
LB Hackney:
A Place for Everyone
Hello Again Hackney
Covid related grants
Total restricted funds
General fund
Total funds		 YEAR
Balance at
31 March
2021
£
-
-
36,819
36,819		 Income
£
20,000
2,500
12,773
35,273
21,296
56,569		 Expenditure
£
(20,000)
-
(12,773)
(32,773)
(8,412)
(41,185)		 Balance at
31 March
Transfers
2022
£
£
-
-
-
2,500
-
-
-
2,500
-
49,703
-
52,203

Restricted funds:

19

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

11. FUNDS (continued)

FUNDS IN THE PRIOR YEAR

Restricted funds:
LB Hackney
National Lottery
Heritage Fund
Isaac Watts
Monument Restoration
Total restricted funds
General fund
Total funds		 Balance at
31 March
2020
£
-
-
2,719
2,719
13,623
16,342		 Income
£
20,000
10,000
-
30,000
38,380
68,380		 Expenditure
£
(20,000)
(10,000)
(2,719)
(32,719)
(15,184)
(47,903)		 Balance at
31 March
Transfers
2021
£
£
-
-
-
-
-
-
-
-
-
36,819
-
36,819

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

CURRENT YEAR

Tangible fixed assets
Net current assets
PRIOR YEAR
Tangible fixed assets
Net current assets		 £
528
49,175
49,703
£
1,048
35,771
36,819
Unrestricted
funds
Unrestricted
funds		 Restricted
funds
£
-
2,500
2,500
Restricted
funds
£
-
-
-		 Total at 31
March 2022
£
528
51,675
52,203
Total at 31
March 2021
£
1,048
35,771
36,819

20

ABNEY PARK TRUST

NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE YEAR ENDED 31 MARCH 2022

13. STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR

INCOME
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments: Bank interest
TOTAL INCOME
EXPENDITURE
Expenditure on:
Raising funds
Charitable Activities
TOTAL EXPENDITURE
Balances brought forward
Balances carried forward
Net income/ (expenditure)/
Net movement in funds		 Unrestricted
Funds
2020
£
33,460
3,739
1,178
3
38,380
4,938
10,246
15,184
23,196
13,623
36,819		 Restricted
Total
Funds
Funds
2020
2020
£
£
30,000
63,460
-
3,739
-
1,178
3
30,000
68,380
-
4,938
32,719
42,965
32,719
47,903
(2,719)
20,477
2,719
16,342
-
36,819

21