2022-03-31-accounts - Norfolk Park

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DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK PARK (KNOWN AS NORFOLK HERITAGE PARK) TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

REGISTERED CHARITY NUMBER 1040354

DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK HERITAGE PARK CONTENTS

	Page
Reference and administrative details	1
Trustees’ report	2 - 7
Independent examiner’s report	8
Statement of financial activities	9 - 10
Balance sheet	11
Notes to the financial statements	12 - 20

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NORFOLK HERITAGE PARK REFERENCE AND ADMINISTRATIVE DETAILS

CHARITY NO: 1040354

TRUSTEES

Sheffield City Council is the sole Trustee of the charity, acting through the Charity Trustee Sub Committee.

Charity Sub-Committee Members:

Cllr Bryan Lodge (Chair) Cllr Richard Williams (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Julie Grocutt Cllr Dawn Dale

PRINCIPAL ADDRESS

Sheffield City Council Parks and Countryside Moorfoot Level 3 West wing Sheffield S1 4PL

INDEPENDENT EXAMINER

Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP

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NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2022. 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 the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19).

DESCRIPTION OF CHARITY’S TRUSTS AND OBJECTS

The City Council acquired Norfolk Park by virtue of a conveyance dated 18 April 1910 from the Duke of Norfolk. The City Council holds the land acquired on trust for charitable purposes. The governing document is the scheme dated 24 August 1998.

The park is held on trust as a public park, recreation ground and community centre. There is further provision that access to the park will be at no charge and there are restrictions on the sort of public meetings that can be held.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Norfolk Heritage Park is a charity and the sole Trustee is Sheffield City Council. The Charity Trustee Sub Committee is a standing sub committee of the Strategy and Resources Policy Committee. It has been established to take all decisions of the Council, including but not limited to disposal of and other dealings with charitable land.

Management of the park is the responsibility of the Councils’ Parks and Countryside service. Management and administrative decisions which are not decisions of the Council as Trustee, may be made, in accordance with the Council constitution delegations, by the Executive Director of Operational Services, the Director of Parks, Leisure and Libraries, or the head of Parks and Countryside service.

PUBLIC BENEFIT

The Trustees have complied with the duty in s. 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of how the charity has carried out its activities for the public benefit are given in the section below.

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NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

ACTIVITIES AND ACHIEVEMENTS

Norfolk Heritage Park is classed as a City Park and is one of the oldest parks in the country. From 1999-2005 the park has been regenerated through a national lottery restoration project. New visitor facilities have been constructed including the Centre in the Park, a multi-purpose community building. The park landscape has been restored to its original Victorian character. A new sports pavilion and car park were opened in March 2005 and then later in 2011 the redeveloped Sports Pitches were officially opened.

More recently in 2018 the renovation and renewal of new Playground facilities was completed. Then in 2019 a new footpath link between Jervis Lum & Beeches Drive was installed creating better access links into the park. To allow controlled entry to the park a new rising arm barrier was fitted at the entrance off Guildford Avenue.

Norfolk Heritage Park has the following facilities for park visitors:

Under 8's playground
Adventure playground for over 8's
Sports pitches, Sports Pavilion and Bowling Greens
Multi-use games area
A café
A crèche/Nursery
Youth club provision
Sheffield City Council Ranger Service
Rooms for hire including an I.T. Training Suite
Toilets including toilets for disabled visitors
Bookable event space

Summary of activities

Most activities and achievements at the park during 21/22 were returning to pre-pandemic levels again including the following:

The Park has been awarded the Green Flag for the fifteenth-year running in recognition of the quality of the facilities, services and management.
We strive to maintain and improve the high standard of facilities within the park for people and wildlife.
We have created more biodiversity within the park by increasing wildlife habitats & implementing reduced mowing regimes.
The new pitches are well used and have benefited from the new drainage, irrigation and a knee high rail around the pitches. The pitches have received a higher specification for ongoing maintenance and end of season renovation work.
We have continued to ensure that all the tenanted buildings associated with the park are fully tenanted in order to maximise income for the charity.
Norfolk Park Bowling Club still operate from the park albeit with now one green in use.
Due to the covid pandemic room booking / income within CITP was greatly reduced but has now increased again in 21/22.

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NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Centre in the Park

Due to Covid 19 operations & income within the centre was greatly reduced however the toilet facilities remained open with social distancing & other mitigations in place. Activity has since recovered during 21/22.

There has been successful re configuration of the building around the core use of Age UK who have established a local service delivery hub within the building taking four of the larger community rooms and bringing increased family usage to the centre which will help to safeguard the long term viability of the café within the centre.

There has been significant work with the operators of the crèche to restructure the operation and make it more sustainable which will allow them to continue to provide preschool places within the local area and continue to use facilities within the centre.

The youth club continues to operate from the centre on two nights each week although this was curtailed somewhat by the covid restrictions.

Groups with an interest in the park

A new Friends of Norfolk Heritage Park met with Councillors and Sheffield City Council Officers during late 2021 and are currently forming a new committee.

Events

A number of events were undertaken during 21/22, some being outdoor events in the park and others being based in Centre in the Park and utilising outdoor facilities.

Date	EVENT	APPROX ATTENDANCE	ORGANISATION	Type of Event
06/07/2021	Little Library& FamilyLearning	100	Major Events	Community
11/09/2021	CommunityPicnic	90	SODIT Survivors of Depression in Transition	Community
19/09/2021	Froglife Event	50	Froglife	Community
09/10/2021	Secondaryschools XC 2	300	Major Events	Sports
27/10/2021	Froglife Event	50	Froglife	Community
20/11/2021	SecondaySchools XC 4	300	Major Events	Sports
27/11/2021	PrimarySchools XC 5	300	Major Events	Sports
22/01/2022	Schools Cross country	150	Major Events	Sports
05/02/2022	SFSS Oriienteering 5	100	Major Events	Sports
12/03/2022	yorkshire vets cross country	300	Major Events	Sports

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NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

PLANS FOR FUTURE PERIODS

The trustees will continue to work with key stakeholders to further develop Norfolk Heritage Park.

Continuing to provide a high quality suite of services accessible by all sectors of the community in line with Green Flag standards, maintaining the park’s Green Flag Award (nationally recognised).
Implementing park developments in line with Green Flag Management Plans.
Continue to implement and develop the Norfolk Heritage Park Environment Policy to reduce the effect of services on the local environment e.g., Bio-Diversity gains
Work with Activity Sheffield, Heritage Park Community School, GOALS Soccer Centre and All Saints Secondary School to carry out the necessary work to ensure the successful usage of the sports pitches.
Work with Norfolk Park bowling club to sustain the use of the bowling green within the park and seek to encourage increases in junior bowling within the park.
Improve visitor information services including supporting Friends Group in the development of their website and ensure interpretation leaflet is widely available.
Identify marketing opportunities to further promote the park and its facilities, marketing plan to be completed and implemented.
Parks and Countryside and the Centre in the Park team will continue to provide support and facilitate a range of partnership / community led events that use the park buildings and the park landscape.
Ensure that the park links with the wider regeneration process taking place on the estate and any strategies and developments that affect the park and its day-to-day operations.
Work is underway to install 5mph speed limit signage from the Norfolk Pk Rd entrance up to the bowling green car park following a risk assessment exercise
Replacement of the wooden knee rail fencing around the main carpark is planned to replace with steel knee high rails for extra durability/sustainability.
The surface of the drive leading into the car park & the car park itself is deteriorating, it has been acknowledged that full surface repairs/renewal will be required in the shortterm dependant on funding.

FINANCIAL REVIEW AND FUNDING

Restricted fund - Net expenditure of £65,788 (2021: expenditure of £48,390) comprising depreciation of £93,100 (2021: £48,390). This expenditure was offset by capital grant income from the Environment Agency £10,000, Community Infrastructure Levy £10,000 and Sheffield City Council Grant £7,312.

The additional grant income this year covered works on Arbourthorne Pond and Arbourthorne Lodge access.

Fixed assets totalling £44,710 were written off as part of an impairment review to ensure that the carrying value is not greater than the recoverable amount. This comprises of £36,421 on the Centre in the Park and £8,289 in the Park.

DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Unrestricted funds - Net income of £159 (2021: £0), this includes investment income of £159 (2021: £0). The income from charitable activities was £55,594 (2021: £38,329) with expenditure of £215,489 (2021: £185,573). The deficit was funded by the grant from Sheffield City Council of £159,895 (2021: £147,244).

There has been an increase in charitable expenditure of £29,916 in 21/22. This is a result of activity generally increasing again after the pandemic. Most notably employee costs have risen by £16,225 (30%) due to investing more time in maintaining the Park. There has also been an increase of £4,562 expenditure on supplies & services due to increased activity at the Centre in the Park.

The additional expenditure in year has been partially offset by increased rents and room hire income of £16,103. This is as a result of the post pandemic activity returning to more normal levels. The remainder of the deficit has been covered by the Sheffield City Council grant of £159,895.

At 31 March 2022 the charity had total funds of £1,745,457 (2021: £1,811,086). These funds are mainly tied up in fixed assets and investments. Restricted funds of £1,582,275 (2021: £1,648,063) were held mainly as fixed assets. Endowment and designated funds of £163,182 (2021: £163,023) were held as investments.

There was investment income of £159 (2021: £0) and this has been transferred to the Designated Fund which now totals £3,122 and is available to spend in accordance with the Charity’s Trusts & Objectives.

RESERVES POLICY

As the charity is managed and funded by the Council, no specific unrestricted charity reserves are deemed to be necessary.

Annual revenue expenditure is generally greater than income and the variance is born by the Council and not carried forward into the next financial year.

This charity has specific monies invested in the Council’s internal investment fund. Interest is received half yearly on the monies invested. The investment monies are held as endowment funds and any interest earned is unrestricted income. This income has been earmarked by the trustees for use at the site for one-off projects rather than ongoing costs and has therefore been shown as a designated fund.

RISK MANAGEMENT

The charity is dependent for its day-to-day management upon Sheffield City Council. It is therefore considered expedient and cost effective for the charity to adopt the Council’s risk management policy and strategy, which it considers is a crucial part of the service planning process in highlighting key risks and how they affect the Council’s ability to deliver its service and how they will be managed. The Council has incorporated a formal approach to risk management in its day-to-day operations and has developed a toolkit to allow managers to identify risk, which would prevent them from achieving their objectives and to provide information and guidance on how these risks can be managed. The Council operates an Internal Insurance Account covering a variety of risks.

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NORFOLK HERITAGE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Trustees' responsibilities statement

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TRUSTEES

Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1.

Approved by the Trustees and signed on their behalf by:

Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee .

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INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF Norfolk Park

I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

........................................ Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP

18-04-2023 Dated:

DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK HERITAGE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investment 10 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Transfer between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2021/22 £ 159,895 55,594 159 215,648 - 215,489 215,489 159 159 2,963 3,122	Restricted 2021/22 £ 27,312 - - 27,312 - 93,100 93,100 (65,788) (65,788) 1,648,063 1,582,275	Endowment 2021/22 £ - - - - - - - - - - 160,060 160,060	Total 2021/22 £ 187,207 55,594 159 242,960 - 308,589 308,589 (65,629) - (65,629) 1,811,086 1,745,457	Total 2020/21 £ 147,244 38,329 - 185,573 - 233,963 233,963 (48,390) - (48,390) 1,859,476 1,811,086

DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK HERITAGE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investment 10 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Transfer between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2020/21 £ 147,244 38,329 - 185,573 - 185,573 185,573 - - 2,963 2,963	Restricted 2020/21 £ - - - - - 48,390 48,390 (48,390) (48,390) 1,696,453 1,648,063	Endowment 2020/21 £ - - - - - - - - - - 160,060 160,060	Total 2020/21 £ 147,244 38,329 - 185,573 - 233,963 233,963 (48,390) - (48,390) 1,859,476 1,811,086	Total 2019/20 £ 132,699 90,824 868 224,391 15,563 248,563 264,126 (39,735) - (39,735) 1,899,211 1,859,476

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activites.

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NORFOLK HERITAGE PARK BALANCE SHEET AS AT 31 MARCH 2022

Note Fixed assets Tangible fixed assets 9 Investments 10 Current assets Debtors 11 Liabilities Creditors falling due within one year 12 Net current assets Net assets The funds of the charity Unrestricted income funds Designated funds 15 Restricted income funds 13 Endowment funds 14	Unrestricted 2021/22 £ - 3,122 3,122 1,050 (1,050) - 3,122 3,122 - - 3,122	Restricted 2021/22 £ 1,582,158 - 1,582,158 117 - 117 1,582,275 - 1,582,275 - 1,582,275	Endowment 2021/22 £ - 160,060 160,060 - - - 160,060 - - 160,060 160,060	Total 2021/22 £ 1,582,158 163,182 1,745,340 1,167 (1,050) 117 1,745,457 3,122 1,582,275 160,060 1,745,457	Total 2020/21 £ 1,647,946 163,023 1,810,969 1,267 (1,150) 117.00 1,811,086 2,963 1,648,063 160,060 1,811,086

Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1.

Approved by the Trustees and signed on their behalf by:

11/04/2023 Signed _____ Date _______

Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee.

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1. Accounting Polices

Norfolk Heritage Park is a registered charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to provide a public park, recreation ground and community centre.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements 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 on 1 January 2019 (Updated second edition – October 19), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

1.1 Fixed assets

Norfolk Park is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.

Land and buildings are carried in the accounts at deemed cost, as at transition to SORP (FRS 102).

Expenditure on fixed assets is capitalised, provided that the fixed asset yields benefit to the charity and the services it provides are for a period of more than one year.

Assets have been reviewed for any impairment loss in respect of consumption of economic benefit.

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.2 Depreciation

Depreciation is provided on fixed assets at rates calculated to write off the cost of the assets over their expected useful lives as follows:

Land and previously revalued buildings are not depreciated.
Park buildings have been depreciated on a straight line basis over 40 years, commencing on the transfer from assets under construction.
Depreciation is not provided on land or assets under construction.
The Trustees perform annual impairment reviews in accordance with the requirements of FRS 102 to ensure that the carrying value is not greater than the recoverable amount.

1.3 Investments

Fund balances are invested internally with Sheffield City Council. Investments are held at market value.

1.4 Fund accounting

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

Designated funds comprise of unrestricted funds that have been set aside by the trustees for specific purposes.

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

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

1.5 Income

Income from donations and grants, including capital grants, is included in income when it is probable that the income will be received, and is allocated to the appropriate fund.

Investment income is included when receivable.

Rental, events, room hire and similar income is included when the event or function has taken place.

The cost of running the park is funded by Sheffield City Council. Annual revenue expenditure is generally greater than income and any variance is borne by the Council by way of a grant to the charity.

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.6 Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, net of any VAT, which can be recovered as Sheffield City Council is the sole trustee and therefore has special status under s33 VAT Act 1994.

The main exception to this treatment is payments for such items as gas and electricity are charged at the date of the meter reading rather than being apportioned between years. This policy is applied consistently each year.

Expenditure has been allocated to the activities to which it is directly attributable.

Cost of raising funds

The cost of generating any external funding, such as grant applications and events, is attributable to the time of Sheffield City Council officers who work on a range of projects including the charity. As such it is not possible to accurately apportion the cost of this to the charity so no charge is included in the accounts.

Charitable activities

Charitable activities are set out within the charitable deeds and represent the costs associated with the running and maintenance of the park.

Governance costs

Independent examination costs and finance officer costs are charged to the charity. The Council currently absorbs the cost of other officers’ time. This policy is kept under review.

Staff costs

The staff who work for the charity are employed by Sheffield City Council, and are subject to the terms and conditions of that organisation. The costs of such staff are recharged to the charity. Full disclosure of the relevant staff costs and numbers is provided in the notes to these financial statements.

Pensions

City Council employees may participate in the Local Government Superannuation Scheme, which provides members with defined benefits related to pay and service. The City Council makes payments for this group of employees to the South Yorkshire Pensions Authority, which administers pension arrangements on behalf of Sheffield City Council and the other local authorities in the South Yorkshire area. The City Council bears any deficit or surplus on the scheme and does not charge this to the charity.

1.7 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.8 Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.9 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

2. Donations and legacies

----- Start of picture text -----
|||| |---|---|---| |Grants|2021/22|2020/21| |£|£| |Unrestricted:| |Sheffield City Council - revenue grant|159,895|147,244| |159,895|147,244| |Restricted:| |-| |Sheffield City Council - capital grant|7,312| |-| |Environment Agency|10,000| |-| |Community Infrastructure Levy|10,000| |S106|-|-| |Norfolk Park TARA|-|-| |Public Health|-|-| |-| |27,312| |187,207|147,244|

----- End of picture text -----

If expenditure is greater than income the variance is borne by Sheffield City Council and not brought forward into the next financial year.

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|||||| |---|---|---|---|---| |3. Income from charitable activities|Centre in| |Park|the park|2021/22|2020/21| |Operation|building|Total|Total| |Income|Income| |£|£|£|£| |Unrestricted:| |Outdoor sports|1,087|-|1,087|-| |Events|75|-|75|-| |Miscellaneous|-|-|-|-| |Rents and room hire|6,000|48,432|54,432|38,329| |7,162|48,432|55,594|38,329|

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|||| |---|---|---| |4. Analysis of expenditure on raising funds|2021/22|2020/21| |£|£| |Unrestricted:| |Events|-|-|

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

5. Analysis of expenditure on charitable activities Unrestricted: Employees Rangers Repairs and maintenance Grounds maintenance Tree work Playground refurbishment and maintenance Electricity Gas Water and sewage Rates Council tax Cleaning charges Transport Telephones Supplies and services Governance costs Restricted: Depreciation 6. Governance costs Managing and administration: Independent examination fees Finance office costs 7. Staff costs and trustees' remuneration Salaries Social security costs Pension	Park Centre in Operation the Park Costs Building Costs £ £ 44,776 26,584 - - 26,973 18,279 22,980 6,256 5,947 - 15,597 - 5,097 - 4,564 - 1,480 - - - 23,259 - - - 3,907 - 7,401 - 2,390 106,932 108,558 47,304 45,796 154,236 154,354	2021/22 2020/21 Total Total £ £ 71,360 55,135 - 110 45,252 45,181 22,980 21,789 6,256 3,565 5,947 4,837 15,597 14,565 5,097 4,993 4,564 2,595 1,480 - - - 23,259 22,454 - - 3,907 5,061 7,401 2,839 2,390 2,449 215,489 185,573 93,100 48,390 308,589 233,963 2021/22 2020/21 £ £ 1,050 1,150 1,340 1,299 2,390 2,449 2021/22 2020/21 Total Total £ £ 55,318 42,740 5,532 4,274 10,510 8,121 71,360 55,135

No employee received remuneration of over £60,000 during the year (2021 - None).

Trustees received no remuneration (2021 - £Nil) and were not reimbursed for any of their expenses during the year.

8. Staff numbers The average number of employees during the year was	2021/22 2020/21 Number Number 4 4

DocuSign Envelope ID: 97AC3049-FCFF-4565-A2D7-B1A4E6174426

NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

9. Land and buildings At cost or valuation At 1 April 2021 Additions Transfers At 31 March 2022 Accumulated depreciation At 1 April 2021 Charge in the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021	At cost At cost Assets under Freehold land Total Construction and buildings £ £ - 1,980,318 1,980,318 27,312 - 27,312 (27,312) 27,312 - - 2,007,630 2,007,630 - 332,372 332,372 - 93,100 93,100 - 425,472 425,472 - 1,582,158 1,582,158 - 1,647,946 1,647,946

Freehold land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation in 2012/13 by the Asset Partnership Services team of Kier who are MRICS qualified.

10. Investments At market value At 1 April 2021 Interest received Drawdown At 31 March 2022	2021/22 £ 163,023 159 - 163,182

Market value is the same as historical cost.

11. Debtors Amounts due from Sheffield City Council Accrued income 12. Creditors: amounts falling due within one year Independent examination fees Deferred income	2021/22 £ 1,050 117 1,167 2021/22 £ 1,050 - 1,050	2020/21 £ 1,150 117 1,267 2020/21 £ 1,150 - 1,150

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

13. Restricted funds

Balance at 1 April 2021 Expenditure Income Transfer Balance at 31 March 2022	Freehold land and buildings Total £ £ 1,648,063 1,648,063 (93,100) (93,100) 27,312 27,312 - - 1,582,275 1,582,275

Freehold Land and Buildings

This fund comprises various grants and donations received to finance capital projects including the Centre in the Park, a new sports pavillion, and a multi use games area.

Restricted funds - prior year

Balance at 1 April 2020 Expenditure Income Transfer Balance at 31 March 2021	Freehold land and buildings Total £ £ 1,696,453 1,696,453 (48,390) (48,390) - - - - 1,648,063 1,648,063

14. Endowment funds

Balance at 1 April 2021 and at 31 March 2022

£ 160,060

The Charity funds are invested in Sheffield City Council's Consolidated Loan Funds. The original investment balances are held as endowment funds. Interest earned can be used for unrestricted purposes but is designated for one-off projects rather than ongoing running costs.

Endowment funds - prior year

Balance at 1 April 2020 and at 31 March 2021 15. Unrestricted funds Balance at 1 April 2021 Income Expenditure Transfer Balance at 31 March 2022	£ 160,060 General Funds Designated Funds Total £ £ £ - 2,963 2,963 215,765 - 215,765 (215,489) - (215,489) (159) 159 - 117 3,122 3,239

Designated funds represent accumulated interest on the endowment funds. The trustees have set this money aside for one-off projects in the future, rather than for ongoing running costs.

Unrestricted funds - prior year Balance at 1 April 2020 Income Expenditure Transfer Balance at 31 March 2021	General Funds Designated Funds Total £ £ £ - 2,963 2,963 185,573 - 185,573 (185,573) - (185,573) - - - - 2,963 2,963

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NORFOLK HERITAGE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

16. Analysis of net assets between funds
Fixed assets
Current assets
Creditors due within one year
Analysis of net assets between funds - prior year
Fixed assets
Current assets
Creditors due within one year

Unrestricted
funds
Restricted
funds
Endowment
Total funds
£
£
£
£
3,239
1,582,158
160,060
1,745,457
1,050
117
-
1,167
(1,050)
-
-
(1,050)
3,239
1,582,275
160,060
1,745,574
Unrestricted
funds
Restricted
funds
Endowment
Total funds
£
£
£
£
2,963
1,647,946
160,060
1,810,969
1,150
117
-
1,267
(1,150)
-
-
(1,150)
2,963
1,648,063
160,060
1,811,086

17. Ultimate Controlling Party

The ultimate controlling party is the sole trustee, Sheffield City Council.

18. Related parties

The charity has a very close relationship with Sheffield City Council who is the sole trustee and provides the balance of funding not provided elsewhere on an annual basis, to enable the charity to carry out its charitable objectives. The amount of funding provided by Sheffield City Council during the year is £167,090 (2021: £147,244). At the year end was owed by Sheffield City Council £1,167 (2021: £1,267).