## **HIGHFIELDS LEISURE PARK TRUST** ## **Annual Report for the year ended 31 March 2021** **Registered Charity number 1006603** 1 ## **CONTENTS** ## **Page** - 3 Report of the Trustees for the year ended 31st March 2021 - 3 Objectives and Activities for the Public Benefit - 4-6 Achievements and Performance - 7 Financial Review - 8-9 Plans for Future Periods - 10-13 Structure, Governance and Management - 14-15 Reference and Administrative Information - 16-17 The Financial Statements - 18-21 Notes to the Financial Statements - 22 Independent Examiners Report 2 ## **REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31ST MARCH 2021** The trustees present their annual report and financial statements of the charity for the year ended 31st March 2021. The financial statements 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 published on 16 July 2014. ## **OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT** Highfields Leisure Park Trust is a charity of which the Council is sole trustee and is responsible for the general control and management of the charity. These responsibilities are delegated to the Trusts and Charities Committee by full Council. The Trusts and Charities Committee give their time freely and receive no remuneration or other financial benefits. ## **Objective** The primary objective of the charity is to provide public recreation and pleasure grounds for the people of Nottingham forever. To achieve this, a programme of ongoing maintenance of grounds and equipment is completed each year. This ensures the provision of well maintained, good quality public recreation facilities. The Trustee confirm they have referred to the Charity Commission guidance on public benefit when reviewing the aims and objectives and when setting plans for the future. Highfields is open to the public at large assuring public benefit on an open access basis. There are no restrictions regarding the members of public who may use Highfields. No fees are charged for access to the park but some fees are charged for various concessions within the park. 3 ## **ACHIEVEMENTS AND PERFORMANCE** Highfields Leisure Park Trust is responsible for providing leisure, recreation and sporting opportunities at Highfields Park for the benefit of Nottingham residents. Improvements on the site in the last year have included: ## **Performance Report (April 2020 - March 2021)** **----- Start of picture text -----**
Objective Action Outcome
Sport, Recreation & The £5.2m Heritage Lottery Funded park restoration Improved physical activity
Events project began in summer 2017 and was completed in and health and wellbeing
August 2018. Work has continued on some final and
additional restoration items, including:
- Creation of an artistic bench using material from
and representing the Maid Marian pleasure cruise
boat.
- Re-landscaping of the Jesse Boot statue avenue
into the park to its original grass lawn scheme.
- A new site welcome sign at the Western end of the
park.
- Minor stonework capping repairs around the lake
edges.
- Ongoing railing repainting by Probation Service
attendees.
The site offered a good range of quality activities
throughout the year, which includes boating, putting,
winter and summer pitch facilities for football, archery
and lacrosse, as well as croquet being held on site.
There were a number of events, both sporting and
community, on Highfields Park, including the Wheee!
Festival.
The Adventure Golf course and foot-golf was closed for
a period of time during the Covid19 pandemic but has
successfully reopened.
The boating lake, operated by Cloud9 Pursuits Ltd was
closed for a period of time during the Covid19 pandemic
but has successfully reopened.
Stand-up paddleboard, yoga and others (e.g. University
clubs) also regularly use the lake.
A Park Ranger has been on site for the last 7 years, fully
funded by the HLF. Unfortunately due to the Covid19
pandemic activities on site were significantly affected
but are being reinstated in 2021/22.
New lease completed with Nottingham croquet club for
both pavilions and lawns to both sides of the Jesse Boot
statue avenue.
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4 **----- Start of picture text -----**
Agreement finalised with Nottingham High School for
the construction of a new artificial hockey pitch on the
Highfields sports ground site. Facility is now
completed and is in full community use.
Community Access The HLF-approved Activity Plan is being delivered by Improved access for all
the Park Ranger.
The Friends of Highfields Park stopped meeting due to
the Covid19 pandemic.
Park Ranger partnership working with the University of
Nottingham and Nottingham Lakeside Arts (NLA) was
impacted by the Covid19 pandemic – plans for 2021/22
are being discussed.
A FCC bid for the new Serenity Garden memorial
garden next to the old paddling pool, in partnership with
Forever Stars baby loss charity, was successful and
work started on the £108,000 garden in 2020/21.
The Serenity Garden was officially opened in July 2021
Well Maintained A 10 year maintenance and management plan (MMP) Safe, well presented and
supported the HLF bid and details how the park is park users have more pride
maintained following the restoration project; this is and ownership
updated annually.
Maintenance programmes have been completed in
order to ensure the formal areas and woodlands are
kept in an attractive and favourable condition.
Recruitment of a permanent HLF-funded Head
Gardener was successful.
The partnership with the Estates and Grounds
Maintenance Manager for the University of Nottingham
campus remains strong.
First phase of rhododendron refurbishment completed.
Sustainability – Continued tree planting programme on site via memorial Improved environmental
Environmental tree plantings. sustainability
Continued upgrade of parks infrastructure via the
memorial bench scheme. Memorial bench restoration
continues to be a large focus and the new Heritage
green colour is appearing all over the park as existing
benches are refurbished and new ones are purchased
by sponsors.
Volunteering hours were significantly impacted during
the covid19 pandemic but volunteering activities are
returning to the park.
ERDF-funded wetland creation and river restoration Create new habitats.
works along Tottle Brook through the park completed.
ERDF-funded creation of pond and installation of Create new habitats.
boardwalk across the old paddling pool to link to the
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5 ||new SerenityGarden.|| |---|---|---| |Sustainability -
Financial|The Christmas Company did not hold the event in
December 2020 due to Covid restrictions and other
income from site based concessions was reduced
duringtheyear.|More financially
sustainable and value for
money trust accounts.| ||New concession agreement with Wired on Wheels
(coffee and cake van)|| ||Colwick Park Lifeguards continue to lease the
boathouse for storage.|| 6 ## **FINANCIAL REVIEW** The Council provides grant monies to finance the annual operating deficit of the trust. In 2020/21 this amounted to £111,787 (2019/20 £134,496) which is a decrease of £22,709 compared to the previous financial year. This grant supports the key objectives of the Trust. All transactions relating to Highfields Leisure Park Trust are subject to the same financial regulations and procedures as those relating to land and property held by the Council. Since May 2011 the Trusts and Charities Committee has replaced the Executive Board for the purpose of approving transactions. ## **Policy on Reserves** The Council is a key partner in delivering the objectives of the Trust and has shown a continued commitment to meet any net expenditure in the year. It is therefore not felt appropriate for the Trust to hold reserves. ## **Risk Management** The Highfields Leisure Park Trust adopts the Council’s risk management policy as appropriate. The following statement best sums up the purpose of risk management: “ _To ensure that the Council is not risk averse and takes or faces risks knowingly and manages them appropriately.”_ The Trustee is committed to a programme of risk management to protect the charity’s assets. A risk register is held which identifies the keys risks and the measures in place to mitigate such risks. Procedures are also in place to ensure that appropriate advice and support is provided to Trusts and Charities Committee as and when required. ## **Insurances** Highfields Leisure Park Trust is covered by the Council’s insurance policy. The Council pays the premium. 7 ## **- PLANS FOR FUTURE PERIODS (April 2021 March 2022)** **----- Start of picture text -----**
Objective Action Timetable for Outcome
Delivery
Sport, Continue to deliver partnership events with Ongoing Improved physical activity
Recreation & Nottingham Lakeside Arts and the University throughout the and health and wellbeing
Events of Nottingham (subject to Covid-19 year.
restrictions). Increase visitors to the park
Raised profile of the park
Ongoing delivery of the Activity Plan by the
Park Ranger and Partners, including events, Introduce different audiences
education and volunteering (subject to to the park that may not have
Covid-19 restrictions). visited the site prior to events
Community Continue to deliver education in partnership Annually Improved education
Access with Nottingham Lakeside Arts and the available
University of Nottingham based on the NCC Increase in user groups
Park Ranger Education programme (subject using site
to Covid-19 restrictions).
Diverse sports on site attracts diverse Annually
interest. available
Following the completion and opening of the Spring 2022 Bring new users to the park.
“Serenity Garden” in July 2021 a Service
Level Agreement and remedial works will be Redevelop an unused area.
sustain community stewardship
completed before Spring 2022.
Well Ongoing work on rhododendrons and 2021/22 Safe, well presented and
Maintained interpreting the Maid Marian. park users have more pride
and ownership
Develop and continue to update a new 10 In place &
year Maintenance plan. approved by the
HLF.
Replacement of vehicle and pedestrian Spring 2022
bridge on Highfields Sports ground side
Sustainability - Continue to carry out volunteer and student Ongoing Improved environmental
Environmental task days on site. sustainability
Empowers local users with
Continue to improve areas of the park for Ongoing their local park.
wildlife as part of practical education
sessions within the new activity plan. Create new habitats.
Make use of overgrown,
unused areas of the park.
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Sustainability - The Christmas Company will host an event December 2021 More financially sustainable
Financial in 2021 (subject to Covid-19) and the funds and value for money trust
achieved will help to make improvements accounts
and maintain the park.
Continued partnership working with Colwick Ongoing
Park Lifeguards who lease the boathouse
for storage.
Continued partnership working with Cloud9 Ongoing
Pursuits who manage the boating lake.
Continued partnership working with Ongoing
Showcase Greens Ltd who manage the
Adventure Golf.
Continued partnership working with Wired Ongoing
on Wheels who are the refreshment
concession on site.
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9 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** In order to understand the objectives of the charity it is important to consider the history of the trust and how Nottingham City Council has managed and developed Highfields Park as a first class facility for sport, leisure and recreation since the creation of the trust. The Sir Jesse Boot Memorial Scheme was created by the 1920 Indenture. Between 1919 and 1920, Sir Jesse acquired a mansion house called Highfields together with adjoining land lying west of the city of Nottingham. By Memorandum of Agreement dated 9 December 1921, it was agreed by Sir Jesse and the trustees of the 1920 indenture that the Highfields Estate had been purchased by Sir Jesse as agent for and on behalf of the Sir Jesse Boot Memorial Scheme. It was also agreed that the trustees would pay Sir Jesse £57,000 out of the trust fund as reimbursement of the costs of the purchase. In return Sir Jesse would convey the Highfields Estate to the trustees or as they might direct. By an indenture dated 1 November 1923 made between Sir Jesse, the trustees of the 1920 indenture and the Council, Sir Jesse, at the request of the trustees, conveyed part of the Highfields Estate to the Council to hold the same “for the purpose of public recreation and pleasure grounds for the people of the City of Nottingham forever” this created the present trust. By an indenture of the same date made between Sir Jesse, the trustees of the 1920 indenture and the University College of Nottingham (“the University”), the rest of the Highfields Estate (including the Manor House) was conveyed to the University. It appears the memorial scheme was wound up in 1925. The land conveyed to the Council was for the most part laid out as a park, although some areas were not so laid out and remained derelict. The land lies to the south of the University and to the north of the railway. It is divided along the east-west axis by University Boulevard. To the north of University Boulevard is a large boating lake with lakeside walks, formal gardens and fine turf sports facilities including putting, bowls and croquet greens. Plantations of rhododendrons and mature trees provide a unique natural backdrop to enhance the park setting. To the south of University Boulevard are playing fields, for winter and summer outdoor sports, together with a running track. 10 Over the years there have been a number of dispositions of freehold interest in the land. These include various land exchanges with the University, the acquiring of land at Beeston Sidings immediately to the south of Highfields Park and the conveyance of land to Nottinghamshire County Council for road widening purposes. In addition, the Council as Trustee, over this time, has granted a number of leases (or licences) of land subject to the 1923 Indenture. For example, the site of the former Highfields Lido to the University - to develop the area as an art centre. Also included are lease agreements with the trustees of Highfields Hockey Club for the former sports pavilion tea-rooms. A lease has also been agreed with the croquet club for use of the croquet pavilion and four lawns and to the University for the running track and associated facilities. Part of the Trust land to the south of University Boulevard was developed during the early 1980’s as a Science Park with low-density buildings for light industrial and scientific office use. In December 1998, the Science Park was exchanged for Council land at Beeston sidings, which had been laid out for sporting and recreational activities. ## **Objectives of Charity** The provision of public recreation and pleasure grounds for the people of the City of Nottingham forever. In order to achieve this, a programme of ongoing maintenance of grounds and equipment is completed each year. This ensures the provision of well-maintained public recreation and pleasure grounds. ## **Trustee’s selection methods** ## **Trustees’ selection methods** Nottingham City Council (NCC) elected members are the sole Trustees. NCC has elected members who are elected on a 4 year cycle. The following table details the councillors / trustees for the financial year 1 April 2020 to 31 March 2021 and also includes any post year trustee movements: |Councillor Adele Williams|Councillor Leslie Ayoola| |---|---| |Councillor AJMatsiko|Councillor LindaWoodings| 11 **----- Start of picture text -----**
Councillor Andrew Rule Councillor Maria Joannou
Councillor Angela Kandola Councillor Maria Watson
Councillor Angharad Roberts Councillor Merlita Bryan
Councillor Anne Peach Councillor Michael Edwards
Councillor Audra Wynter Councillor Mohammed Saghir
Councillor Audrey Dinnall Councillor Neghat Khan
Councillor Azad Choudhry Councillor Nick Raine
Councillor Carole McCulloch Councillor Nicola Heaton
Councillor Cate Woodward Councillor Patience Ifediora
Councillor Chantal Lee Councillor Pavlos Kotsonis
Councillor Cheryl Barnard Councillor Phil Jackson
Councillor Dave Liversidge Councillor Rebecca Langton
Councillor David Mellen Councillor Roger Steel
Councillor David Trimble Councillor Rosemary Healy
Councillor Ethan Radford Councillor Sajid Mohammed
Councillor Eunice Campbell-Clark Councillor Sally Longford
Councillor Georgina Power Councillor Salma Mumtaz
Councillor Graham Chapman Councillor Sam Webster
Councillor Gul Khan Councillor Samuel Gardiner
Councillor Hassan Ahmed Councillor Shuguftah Quddoos
Councillor Jane Lakey Councillor Steve Battlemuch
Councillor Jawaid Khalil Councillor Sue Johnson
Councillor Jay Hayes Councillor Toby Neal
Councillor Kevin Clarke Councillor Wendy Smith
Councillor Kirsty Jones Councillor Zafran Khan
Councillor Lauren O'Grady
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## **Trusts and Charities Committee Members** Councillors are appointed to membership of the Trusts and Charities Committee by full Council to fulfil the Council’s responsibilities as Trustees. The Constitution allows that where in-year changes are required to memberships, either at the request of the relevant political group or because a member has resigned or ceased to be eligible for membership, the Corporate Director of Finance and Resources has the authority to action those changes subject to political balance being preserved where applicable and to the changes made being reported to the next meeting of Council. Details of membership will be updated and published on the Council’s website on an ongoing basis. The following is the current list of the Trusts and Charities Committee appointed members who approve the Annual Report and financial statements for the financial year 1 April 2020 to 31 March 2021: Councillor Sajid Mohammed (Chair) Councillor Sam Gardiner Councillor Rosemary Healy Councillor Sue Johnson Councillor Anne Peach Councillor Ethan Radford Councillor Angharad Roberts Councillor Audra Wynter Councillor Andrew Rule 12 ## **Induction and training of Trusts and Charities Committee** Following appointment, Councillors are introduced to their new role and given a number of publications from the Charity Commission. These include guidance on charities and a document issued specific for members of Local Authorities titled ‘Councillors Guide: to a council’s role as charity trustee’. This ensures that new Councillors’ are aware of the scope of their responsibilities under the Charities Act. 13 ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name and Address of** Highfields Leisure Park Trust, Nottingham **Charity** Nottingham City Council Loxley House Station Street Nottingham NG2 3NG **Governing Document** Creation of trust by indenture dated 1 November 1923 and scheme made by the Charity Commission on the 4 October 1993 **Main Activity** Provision of public recreation and pleasure grounds **Charity Commission** 1006603 **Registered Number Name and Address of Sole** Nottingham City Council **Trustee** (The members of Nottingham City Council (NCC) Trusts and Charities Committee are listed on page 11 and 12) **Organisational** Highfields Leisure Park Trust, Nottingham is a charity of which **Structure of the** Nottingham City Council is a sole trustee. **Charity** Recommendations on the management of the charity are delegated to the Trusts and Charities Committee. All transactions relating to Highfields Leisure Park Trust are subject to the same financial regulations as those relating to the Council activity. **Day to Day Management** Director of Sports & Culture Hugh White Nottingham City Council Loxley House Station Street Nottingham NG2 3NG **Name & Address of** Internal Audit **Independent Examiners** Nottingham City Council Loxley House Station Street Nottingham NG2 3NG **Name & Address of** Lloyds Bank **Bankers** Birmingham OSC Ariel House 2138 Coventry Road Sheldon B26 3JW **Providers of Professional** Nottingham City Council Officers **Advice** ## **RESPONSIBILITIES OF THE TRUSTEE** The Charity Commission has introduced a new framework for accounting for charities to meet the need for public accountability for the resources held by charities. It is a combination of legislation and best practice. The legal requirements are contained in the Charities Act 2011 which came into effect on 14 March 2012. The accounting and reporting requirements are complemented by a revised Statements of Recommended Practice: Accounting by Charities (the Charities SORP) issued in 2005. The Trustee is required: - to make arrangements for the proper administration of the charity’s financial affairs; - to prepare the annual report and financial statements for each financial year to present a true and fair view of the charity’s state of affairs as at the end of the financial year and of its incoming resources and its application for resources in that year. In preparing these statements the trustee has ensured: - suitable accounting policies have been selected and applied consistently; - judgements and estimates have been made that were reasonable and prudent; - the relevant legal requirements and recommended practices have been followed; - they are prepared on the basis that the Highfields Leisure Park Trust is a going concern. The Trustee is responsible for ensuring that proper accounting records are kept which are up to date and for maintaining a satisfactory system of control over the charity’s accounts and transactions. The Trustee is also responsible for ensuring that arrangements are made to safeguard the assets of the charity and reasonable steps are taken for the prevention and detection of fraud and other irregularities. The Trustee must take any steps that they ought to have taken in order to make themselves aware of any relevant independent examination information and to establish that the charity’s independent examiners are aware of any such information. As far as the Trustee is aware there is no relevant independent examination information about which the Highfields Leisure Park Trust independent examiners are unaware. ## **ADOPTION OF THE ANNUAL REPORT AND FINANCIAL STATEMENTS** Approved by the Trusts and Charities Committee and signed on behalf of Nottingham City Council by: 20 January 2022 __________________________________ Date: ………………………… Clive Heaphy Corporate Director of Finance and Resources 20 January 2022 __________________________________ Date: ………………………… Councillor Sajid Mohammed (Chair) Signed for the Trustee 15 ## **THE FINANCIAL STATEMENTS** The financial statements include comparative figures for the previous year and consist of the following: - **Statement of Financial Activities** is a single accounting statement with the objective of showing all incoming resources expended by the charity in year; - **Balance Sheet** setting out the assets, liabilities and funds of the charity; - **Notes to the Financial Statements** explaining the accounting policies adopted and explanations of information in the financial statements. The financial statements have been prepared in accordance with statutory requirements and the Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005). ## **HIGHFIELDS LEISURE PARK TRUST** **----- Start of picture text -----**
Statement of Financial Activities
For year ending 31 March 2021
Unrestricted Unrestricted
Funds Funds
2020/21 2019/20
£ £
INCOMING RESOURCES
Investment Income (214) 0
Total Investment Income (214) 0
Incoming Resources from Charitable Activities (174,358) (248,150)
Total Incoming Resources from Charitable
Activities (174,358) (248,150)
Total Incoming Resources (174,572) (248,150)
RESOURCES EXPENDED
Charitable Activities 174,572 248,150
Total Resources Expended 174,572 248,150
Net Incoming / (Outgoing) Resources 0 0
Fund balances brought forward as at 1 April (213,501) (213,501)
Fund balances carried forward as at 31 March (213,501) (213,501)
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16 ## **HIGHFIELDS LEISURE PARK TRUST** **----- Start of picture text -----**
Balance Sheet
As at 31March 2021
2020/21 2019/20
£ £
Fixed Assets
Tangible Assets:
Freehold Land & Buildings 1 1
Investment Assets 213,500 213,500
Total Fixed Assets 213,501 213,501
Current Assets:
Debtors: amounts falling due within one year 0 0
Cash / Bank 0 0
Liabilities:
Creditors: amounts falling due within one year 0 0
Cash / Bank 0 0
Net Current Assets 0 0
Net Assets 213,501 213,501
Represented by:
Funds
Unrestricted Funds (1) (1)
Capital Receipts (213,500) (213,500)
(213,501) (213,501)
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17 ## **NOTES TO THE FINANCIAL STATEMENTS** ## **1. ACCOUNTING POLICIES** ## **General Principles** The Annual Report summarises the Highfields Leisure Park Trust transactions for 2020/21 financial year together with its financial position at 31 March 2021. This section explains the accounting policies applied in producing the Annual Report for the Trust. Accounting policies are the principles, bases, conventions and rules by which transactions are recognised, measured and presented in the accounts. ## **Basis of Preparation and Assessment of Going Concern** The Annual Report has been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and Charities Act 2011. The accounts have been prepared in accordance with the historic cost basis of accounting except for fixed assets which have been included at notional amount. Compliance with the Charities SORP and the adoption of accounting standards and principles issued or adopted by the Accounting Standards Board ensures that the accounts show “a true and fair view” of transactions during the year and the financial position of the Highfields Leisure Park Trust at the year end. The trustee consider that there are no material uncertainties about the Trust’s ability to continue as a going concern. The trust constitutes a public benefit entity as defined by FRS102. ## **Incoming Resources** Income receipts are accrued and accounted for in the period to which they relate. Income received in advance is recognised as a liability on the balance sheet within creditors. Income from Nottingham City Council funds the net expenditure of the Highfields Leisure Park Trust for the benefit of the citizens of Nottingham. ## **Resources Expended** All expenditure is accrued and accounted for in the period during which they are consumed or received. Accruals have been made for all material sums unpaid at the year end for goods or services received or work completed. Payments made in advance are recognised as an asset on the balance sheet within debtors. ## Charitable Activities These costs mainly relate to premises expenses, which includes day to day maintenance, grounds maintenance and patrol. ## Governance Costs Governance costs, including the administration of the trust are directly funded by the Council, and these costs are not shown in the trust accounts. 18 ## **Fixed Assets** ## Freehold Land and Buildings The valuation of assets is a notional value that reflects the trusts perpetual covenant for general public access to and use of the park. As a notional value is used, depreciation and impairment reviews are not applicable. ## Investment Assets This is the loan/investment, stated at market value, of Highfields Leisure Park Trust’s capital receipts with the Council upon which interest (Bank of England base rate) is received. This interest is shown within the statement of financial activities – Investment Income. ## **Accruals of Expenditure and Income** The accounts of the Highfields Leisure Park Trust are maintained on an accruals basis. This means that sums due to or from the Highfields Leisure Park Trust during the year are included whether or not the cash has actually been received or paid in the year. Where income and expenditure has been recognised but cash has not been received or paid, a debtor or creditor for the relevant amount is recorded in the balance sheet. Cash received or paid and not yet recognised as income or expenditure is shown as a creditor (receipt in advance) or debtor (payment in advance) in the balance sheet and the statement of financial activities adjusted accordingly. Where it is doubtful that a debt will be settled, the balance of debtors is written down and a charge made to the statement of financial activities for the income that might not be collected. This bad debt provision is offset against the debtor balance on the balance sheet. In many cases the value to be entered in respect of accrued transactions will be certain. In others, this value has to be estimated and reference is then made to past transactions and trends in order to determine the likely value. ## **Cash** This is represented by cash at bank which is held within the Council’s bank account on behalf of Highfields Leisure Park Trust charity and cash in hand. ## **Funds of the Charity** ## Unrestricted Fund A fund held on charitable trust for a purpose within the charity’s objectives. The fund is equivalent to the notional value of the freehold land and buildings. ## Restricted Funds Capital receipts in respect of the sale or lease of land and buildings held and invested pending expenditure on further purchases of land or property for investment purposes. ## **2. TAX STATUS** Highfields Leisure Park Trust is a registered charity and is therefore exempt from income tax on income falling within S505 ICTA 1988. The Council is the sole trustee of the Highfields Leisure Park Trust and, in accordance with VAT notice 749, is entitled to recover VAT incurred on the expenditure of the Highfields Leisure Park Trust under section 33 of the VAT Act 1994. 19 ## **3. ANALYSIS OF SOFA: INCOME & EXPENDITURE** |||**2020/21**
**2019/20**
**£**
**£**| |---|---|---| ||**INCOME**
**Investment Income**
Interest
**Charitable Activities**
Fees & Charges
Grant
Rents
Other – Disposal of Asset
**EXPENDITURE**
**Charitable Activities**
Premises
Supplies and Services
Support Services
Third Party Payments|(214)
(0)
(9,049)
(13,958)
(111,787)
(134,496)
(53,522)
(99,695)
0
0| |||**(174,572)**
**(248,150)**| |||23,405
38,067
2,210
3,534
135,492
182,922
13,465
23,627| |||**174,572**
**248,150**| Investment income is generated from a loan to Nottingham City Council and interest received during 2020/21 was £214 (2019/20 £nil). ## **4. TRANSACTIONS WITH RELATED PARTIES** The Council is the sole trustee of the Highfields Leisure Park Trust and any transactions between these two parties must be disclosed in accordance with the Charity SORP. The Council gave a grant of £111,787 to the Highfields Leisure Park Trust in 2020/21, which funded the net expenditure of the charity. £214 Interest Other transactions between the charity and NCC are in respect of the day to day operations of the charity. The Council charged the charity £135,492 (2019/20 £182,922) in respect of grounds maintenance and other support costs which is included in Resources Expended – Charitable Activities, within the Statement of Financial Activities. Individual councillors of NCC did not receive any benefits from the Highfields Leisure Park Trust. 20 ## **5. ANALYSIS OF FIGURES IN THE BALANCE SHEET** ## **Tangible Fixed Assets** Trust lands are stated at the trustee’s valuation of £1, being open market value for existing use of land subject to a perpetual covenant granting the general public access. ## **Investment Assets** The investment assets are held primarily to provide an investment return for the charity. ||**2020/21**|**2019/20**| |---|---|---| ||**£**|**£**| |Loan to Nottingham City Council|213,500|213,500| 21 ## **Independent Examiner’s report to the Trustees of the Highfields Leisure Park Trust** I report on the accounts of the Trust for the year ended 31[st] March 2021, which are set out on pages 1 to 21. ## **Respective responsibilities of trustees and examiner** The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: - examine the accounts under section 145 of the Charities Act - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below. ## **Independent examiner's statement** In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |**Signed:**|_Shail Shah_
**Date:**
15 December 2021| |---|---| |**Name:**
**Relevant professional**
**qualification(s) or body:**|Shail Shah, Head of Audit & Risk
FCCA| |**Address:**|Nottingham City Council,| ||Loxley House, Station Street, Nottingham NG2 3NG| 22