SEFTON PARK PALM HOUSE PRESERVATION TRUST ANNUAL REPORT AND ACCOUNTS for the year ended 31 Marth 2023 REGISTERED NUMBER: 03272897 CHARITY NUMBER: 1059957 *ACl55A2X* 1111 023 IES HOUSE #2e6 Cok SEFTON PARK PALM HOUSE PRESERVATION TRUST Accounts for the year ended 31 March 2023 Contents Page Company Infonnation Report of the Trustees Independent Examinerfs Report Statement of Financial ActNlties Balance Sheets Statement of Cash Flows io Notes to the Accounts li SEFTON PARK PALM HOUSE PRESERVATION TRUST Charity Inlormation for the year ended 31 Marth 2023 Company number: 0327Z897 Charlty number: 1059957 Trustees: A 8rown L Burman N Dickson D Ellis S Kweeday (resigned 13 December 20221 K Roderthurst C Smith (appointed 10 April 20221 P VKi15her Re8iSt*red office: Sefton Park Palm House Sefton Park Liverpool L17 IAP Bankers: CAF Bank ￿mit*d 25 Kings Hill West Malling Kent ME194JQ Independent Examin¢r: L Casey ACA Mitchell Charlesworth Accountant5 5 Tèmple Square Temple Streèt LiverFK>O1 L2 5RH SEFfoN PARK PALM HOUSE PRESERVATION TRUST Report of the Trustees for the year ended 31 March 2013 The trustee5 Iwho are also the directors of the company fr>r the purposes of the Companie5 Act) present their annual report together with the accounts of the charity for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set tsut in note I to the accounts and comply with ihe Trust's governing document. applitable law and the rtquirements of thè Statement of Recommended Practice,'Accountin8 and ReportinE by Charities ISORP 20191. Govemlng document The Trust Is a company limited by guarantee ineorporaied on 7 March 2Q)l and is governed by a Memorandum and Articles of Association dated l November 1996 las amended in 20161. Organlsatlon The 8oard of Trustees. which must have a minimum of three and a maximum of frftetn. administers the Trust. The Palm House has a small employee base. and a number of temporary event staff. who run the Palm House on day-to-day basis. The 8oard delegates authorty to the Oirector for managing the Palm House, Including employees. volunteers. customers and suppliers. as well as operational matters including finante. employment and business plan reporting. Oblects and actl¥ttSes To preserve for the public benefit of the people of the County of Merseyside and of the nation at large. the buildin8 known as Sefton Park Palm House. Sefton Park. ￿VerPoOl. In the interests of social welfare to provide or ass￿1 in the provision of facilities for recreation and other leisur• tirne occupation for the public at large with the object of impro¥in8 their conditions of life. To preserve the buildln& architecture and plants The building and grounds of Sefton Park Palm House continue to be maintained by Liverpool Oty Council, with the Charity providing additional support for the care of the plant wllertion and improvements to enable public use. To e5tsblish broad re¢reational acli The Palm Plouse and grounds are open to the public every day (apart from times when a closed event is taking place) allowing visitors the chance to enjoy the building anij its fine collection of plants. Admission is I￿e. A broad pro8ramme of events, community partnerships and educational activities brin8 the recreational benefits of the Palm House to a diverse range of audiences. The Palm House holds the Green Tourism Award at Gold levd 05 well as the VAQAS award from Visit England. Revenue The Trust's main Source of income was eenerated throueh venue hire and the catering commission associated with venue hire events. Other sources of income include on-yte catering Icafe and kiosk provi5ionl, bar sales. retail sales. donations and Brants. Income has remained strong throvghtyjt the perityl. with a nurnber of priv*e hire events deferred from previous periods to this one, due to Covid-19 re5trirtions. Income forecasts for future period5 are also stron& and the organisation remains financially stable. SEFTON PARK PALM HOUSE PRESERVATION TRUST Report of the Trustees for the year ended 31 Ma￿h 2023 Publk benefft The trustees have due regard to the 8uid?nce pulAished by the Charity Commission on public benefit. Activities designed for public benefit. Such as free events, educational activities and publTrc access to the Palm House, expanded dLtrring the year. This also being the first year since 2019 where such acttvities have not been impacted by Covid-19 related restrictions. The trustees are committed to maintaining a balance between ensLtrinB the future of the Palm ￿t￿se for all through generating income and delivering publi£ access and benefit for a broad range of audiences. hlevemerfs and perfOrn￿nce Developing deeper relationships wth a wide variety of community Organisations and expanding community benefit has been a key focus for the year. In May 2022, the Palm House hosted its first tu￿wallOn event, an opportunity for representatives from a wde variety of organisations and stakeholders to come together to connect with each other and the Palm House. The event enabled the team to build e¥i5tin8 and new relationships. It was well attended by a variety of organi5ations and throughout the year several of these relationships developed into events or further partnership attivities. Signifitant progrÈss was made to the interpretation project, supported by the National Lottery Herita8e Fund INLHFI and workinÉ in collaboration with Liverpool City Council. The proiert supported the growing events programme, new temporary exhibitions and interpretive installation5. schools engagemeni and the volunteer programme. Evaluation of the proje¢t is well underway and the project is expected to be completed in March 2024. The events programme expanded to include a broad range of community. cultural and wèllbeing focusèd actlvltles. many hosted in collaboration with new and existing partners and tommunity organisations. Events ranged from Promenade theatre performance, such as Mr5 Palm 'Explor¢ the Palms, enablin8 families to find out more about the plant collections, through to an event with 4Win8s marking the International Day for the Elimination of Violence Against Women. The venue also hosted artivitit5 for liverpool Arab Arts Festival ILAAFI. including traditionally Arabic food offerin8s, crafts, 5torytellin& music and performance5. Towards the end of the pèriod. in February 2023. the team worked with the Chinese Wellbein8 Evergreen Club to prèsent events to mark ChinesÈ New Year at the Palm House. consisting of dance and musical performances and calligraphy workshops. The wellbeinB programme ran throughout the year and included hosting events to mark Children's Mental Health Week and Mental Health Awareness Week. alongside regular wellbeing enhancin8 activities such a5 yoga and craft club5. The Palm House team also developed events for Dementia Action Week, including activities to collect memories of the Palm House. Calm in Palm, an event delivered in partnership with Autism in Motion, brought totethef a range of 5ervicÈ providers at the Palm House to share infomation about the support available to people with Autism and other neuroloBical conditions. This was hoxed twice throughout the period. One of the significant athievements durbng the year was development of the schools, engagement programme. During the period 32 schoo15, colleges and universitie5 ¥iSltÈd the Palm House bringing a total of 1068 students between them. Wisits encompassed a wde ran8e of a8e groups. from Reception 14-5 year olds) throu8h to Highèr Education ladultsl. and covered a variety of topics. Examples include art focused visits for sixth form pupils. a setondary school science club visit and primary schools wsff(ing to watch specific plays or wew the exhibitions, as well as more general visiis to the building and 8arden Across the year there wa5 also significant expansion of the volunteering programme. In April 2022 the Palm House had 28 volunteers. rising to 55 volunteers by March 2023. With NLHF fvndin8, the team has been able to provide high quality training to volunteers. This included training delivered by a qualified 81ue Badge Guide, leadin8 to an increase in g¥Jided tours including as of the schools programme outlined above. Volunteers also received trainin8 in Playlist For Life and the Palm House became a Playlist For Life Help PoinL enabling a greater service to visitors with dementia. Alongside staff, all volunteer5 a150 had ihe opportunity to receive Dementia Friends training, a5 Part of Dementia Action Week. The volunteers also received training from the NLHF evaluator and were fundamental in collectin8 the visitor surveys. which will longer term enable us to understand usage of the Palm House longer term. SEFTON PARK PALM HOUSE PRESERVATION TRUST Report of the Trustees for the year ended 31 March 2023 Achlevements and Perform*Ke IC•n¥Dwdl Exhibitions held in the venue during the year enabled visitors to explore different aspects of the history of the buildin& collertion and people associated with its heritage.. For example, the R05coe exhibition focused on the life and works of William Roscoe, the founder of the Liverpool Botanical Collection from ￿lch some of the plants at thè Palm House are de5ended. Other example5 included a display treated by the Palm House's Botanical Gardener to mark Houseplant Appreciation Day and three different exhibits to commemorate Blatk History Month. which were also accompanied by talks and panel discussions. A di8itsl VBOX has also been installèd, providing atcess to nearly 40 piece5 of video content, and more permanent signa8e has been installed to improve wayfindirbg to the Palm House and discovery of some of its key ihemes. To underpln increased work with ¢hildren and more Vulnerable adults. further work wa5 completed during the year to update the organisation's safeguarding Policy and procedures, ensuring that robust systÈms are in place and that staff and volunteers are appropriately trained. To celebrate the 150th anniversary of Sefton Park, the Palm House team organised ¢on¢erts on the band stand within the park. This was the first time that the tearn has expanded into the wrider park in this way and or8anised artivities outsidè tsf the Palm House and its immediate grounds. During the year the Palm House achieved Significant natK•nal profile when the venue was h05t to the popular BBC televi5i0n show, the Antiques Roadshow, which was filmed in the grounds, before the beautiful backdrop of the historic buildin8. The Palm House also won the Ethical, Responsible and SuStair￿b1e Tourism Award at the 2023 Ltverpool City Region Tourism Award5. Thi5 was the second year in a row that the Palm House has won the award. The judges commented that the venue's friendly and knowledgeable volunteers and staff were an important factor in their choice of a winner. In December 2022, after fwe years. ser¥ice, Ihe Direttor of the Palm House deuded to move on to new opportunities. The trustees appoirited a consultant to prowde intèrTrm support to the staff and Board, ensuring a strong foundation for the recruitment of a new seniof lèader for thè orÉanisation durin8 the 2023 2024 financial year. The consultant supported the staff team to develop the value5 Of the Palm House and at an away day towards the end of the period lin February 20231 the trustee5 set out a new draft strategy to guide development in the comin8 yèar, including settine priorities for the wning year. Plans for future perlods A key focus for the next peritsj W￿11 be the remiitment of a new Chief Executive Officer to lead the day-to-day operations of the organisation and to further develop and then delNer on the new strategy. working closely with the established staff team and trustees. The NLHF fundèd interpretation project Is due for completion in March 2024.. As well as ensuring its successful conclusion, the team will seek to embed and ensure a legacy for the work that ha5 been developed throu8h the project. This will include developing a more strategic approach to education pro8ramme development as well as continued development of the events programme. Evaluation gathered throughout the project's life cycle will be used to help the team to understand the impact of project funded actwities and the needs of the Palm House's audiences and non-audiences, aiding future development. Ensurin8 the legacy of the project is a key focus within the new strategy. This will also be well supported by thè number of community relationship5 that have been developed over the last year. Further training of Volunteers is planned to include White B3dÈe tourguide irainin& enablin8 the development of new tour guiding offer5 and increasing capacity to interpret the Palm House to a widèr audience. The team will also explore further options to engage audiences beyond the imrnediate vtcinity of the buildin& such as throu8h attendance at off- Slte events or festivals. SEFTON PARK PALM HOUSE PRESERVATION TRUST Report of the Trustees for the year ended 31 March 2023 Plan5 lor future periods Icthi The tnjstees will also explore ¢)ptions io refurbish elements of the building to ensure the organisation's flrture resilience, takin8 account of the need5 of our 8rowing community programmes and the need for intome generation from events and other sources. Income forecasts through booked events are strong looktng ahead. whtch provides a degree of financial security to the organisation. The trusiees and staff team will continue to work to ensu￿ the balance between income generating usage of the Palm House. investment in the development of the building and collection and tho community facing activities that meet our charitable objertive5. During the upcoming period ihe trustees expert to further develop strategic approach to fundraising to encompass 3 8reater range of income sourtes and approaches. Rlsk management Sefton Park Palm House Preservation Trust's board of trusttes review risk on a regular basls and with the Dirertor maintain a risk re8lSter to monitor all si8nificant risks to the opèration of the organisation, its assets and stakeholders. Reserves pollcy It is the responsibility of the trustees to asse5S the main risk5 the Trust is exposed to. particularly those relating to the operations and finances of the Trust. The trustees undertake this a55essment and ensure that systerns are in place to mitigate and manage the Trust's exposure to any major risks. The Trustee5 have confirmed the requirement to maintain free reserves equivalent to 12 months administration costs Icirca E430KI in order to absorb major fluctuations in Income received without curtailing seryices to its benefKiaries. Trustees During the year a Clerk to the Board of Trustees was recnJited to provide ongoing support to the Board. ensuring thai papers are prepared in a timely manner and that aclions are recorded. The Clerk will also support the orÉanisation with trustee recruitment. induction and training. It is expected that there will bè further trustee recruitmènt during the next year. A skills Judit and equallty. diversity ar￿ inclusion monitoring profile of the T￿￿tee Board was completed durin8 the vear. This will be used to inform the recruitment of future irustees. as well as longer temi trustee training. Eight trustees seryed during the year and there was one resignation. The Trnstees who sefved during the year are detailed on page l. By Ordei ol the Trustees P. g. A 8rown Chalr P Wilsher Trustee 27 November 2023 Mitchell Charlesworth Accountants 5 Temple Square . Temple Street Liverpool . L2 5RH INDEPENDENT EXAMINEVS REPORTTO THE TRUSTEES OF SEFTON PARK PALM HOUSE PRESERVATION TRUST I report to the charlty trustees on my examination of the accounts of the group for the year ended 31 March 2023 which are set out on pages 7 to 20. Responslbllltles and ba￿$ of report As the charity trustees of the group land a150 its directors for the purpose5 of company lawl you ère responsible for the preparation of the accounts in accordance with the requirements of the Companies Art 2￿61'the 2006 Actrl. Having satisfied myself ihat the accounts of the eroup are not required to be audited under Part 16 of the 21)06 Art and are eligible for independent examination, I report in ￿spert of my examination of your group's accounts as carried out under sertion 145 of the Charities Act 2011 1.the 2011 Acfl. In carrying out rny examination I have followed the Directions given by the Charity Commission under section 14515llbl of the 2011 Art. Independent examlrter's siatement Since the group's gross income exceeded £2SO.000 your examiner must be a member of a body listed in sertion 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting rètords were not kept in respect of the company as required by section 386 ofthe 2006 Act.. or the accounts do not accord with those ￿cordS- or tht accounts do not comply with the accounting ieqLJirements of section 396 of the 2006 Act other than any rèquiremènt that the accounts wve a 'trtse and fair viev/ which is not a matter considered as part of an independent examination.. or the accounts have nol been prepared in accordance with the methods and principles of the Statement of Retommended Practice for accounting and reporting by charitTres. I have no conterns and have come across no other matters in connection with the examination to which attention should bt drawn in this report in order to enable a proper understanding of the accounts to be reached. L Casey ACA MITCHELL CHARLESWORTH Llverpool 27 November 2023 SEFTON PARK PALM HOUSE PRESERVATION TRUST Consolldated Statement of Financlal Acthitie51induding Income and Expenditure Account) for the year ended 31 Marth 2023 Unr*strirted Réstdrted FuDds Funds Total 2023 Total 1022 Income from:_ Donations Charitable activities Investment income Commercial tradin8 operations 37.469 27.870 1,562 855.085 37,469 101.881 1.562 855.08S 45.030 40.484 74.011 881.579 Income 921.986 74,011 99S,997 967,098 Expenditure on:. Raising funds Charitsble artivities 373.￿ 478.421 373.gJ9 552.432 319.922 411.986 74.011 T￿al expendllure 852,330 74,011 926.341 731,908 Net incomellexpenditsrel 69,656 69,656 235.190 Transfers between funds {12,5(K)I 12,srA) Total of funds brought forward 730.697 730,697 495,507 Tt)tal funds carrled fon¥ard 787.853 12.SfXt 8CA).353 730,697 All activities relate to continuin8 operations. The notes on pages 11 to 20 forni part of these accounts. SEFTON PARK PALM HOUSE PRESERVATION TRUST Consolidated Statement of Financial Artivities {inchKlinE Income and Expenditure Account) lor the year ended 31 Ma￿h 2023 Comparative inft>rmatlon for the year ended 31 Marth 2022 Unrestrlrted Funds Restrirted Funds Trfal 2022 Income trom:_ Donations Charitable activities Investment income Commercial trading operations 45.030 6.558 45,030 40.484 33.926 881.$79 881.579 Total Incomè 933.172 33.926 967,098 Expènd5tur* on:_ Raising funds Charitable a¢tivities 319,922 378,060 319,922 411,986 33.926 Totsl expend•ture 697.982 33,926 731.908 Net incomellexpenditurel 235.19) 235.190 Total of funds brought forward 495.507 495.507 Total funds urrled lonward 730,697 730,697 BIPage SEFfoN PARK PALM HOUSE PRESERVATION TRUST Balance Sheets 31 March 2023 Notes Consolidated 1023 2022 Company 2023 2022 Faxed assets Tangible assets 13 64,214 73,222 64,214 73,222 Current assets Stock Oebtors Cash at bank and in hand 14 15 9,670 108.443 1.159,923 8.856 130.828 1.021.933 233,687 515,482 534.674 137,750 1.278.036 1.161.617 749.169 672,424 Creditors.. amounts fallin8 due within one year 16 541.897 504,142 13,953 16.163 Net current assets 736.139 657.475 73S.216 656,261 Total net assets 8rA),353 730.697 799.430 729.483 Funds Unrestricted funds General funds Designated funds 20 20 357.853 430.OC(I 400,697 330,1￿* 356.930 430,[￿*) 399.483 330,OCKI 787.853 12,51Xl 730.697 786.930 12.5fy) 729.483 Restricted funds 21 Total funds 22 8CKJ.353 730,697 799,430 729,483 For the year endèd 31 March 2023 the company was eThttt￿d to exemption from audit under section 477 of the Companie5 Art 21J06 relating to srn?11 companies. TiuAees' respons**ilitles al The members have not required the company to obtsin an audit of its acc¢)unts for the year in question in accordance with sertion 476- bl The trustee5 acknowledge their re5ponsibilr(ies for complying wrth the requirements of the Act with respèct to accountin8 records and the preparation of accounts. Approved by the Trustees on 27 f4o¥ember 2023. authorised for issue and ￿ned by.- A Brow Trustee P Wilsher Trustee P. g. Company Registration Number: 03272897 The notes on pages 11 to 20 form part of these accounts. 91Page SEFTON PARK PALM HOUSE PRESERVATION TRUST SLitement of cash flows For the year ended 31 March 2023 ToLIl 2021 Total 2022 Notes Cash Ilows from operatlng acfvltles Net osh provlded by Iu5ed in) opeTrtiry attlvltles 17 143.594 254.594 Cash flows from In￿sting artivities Interest received Fixetl asset acquisitions 1,562 17,1661 136,9371 Change In cash and tash 4ul¥alents In the Vear endk)g 31 Marth 2023 137.990 217,662 Cash and cash eguhmlents as at l Aprll 2022 18 1.021,933 804,271 Cash and cash equi¥Jlenls as at JI Marth 2023 18 1.159.923 1,021.933 IDIPage SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to ihe Accounts Year ended 31 March 2023 Summwy ol attountlTrE policiès Gener4 Informatlon and basts of preparatlon Sefton Park Palm House Preservation Trust is a company limited by guarantee and a registered charity in the United Kingdom. In the event of the charity being wound up. the liability in respect of the guarantee is limited io £1 per member ol the charity. The address of the registered office is given in the charity information on page l of these financial statements. The nature of the charivs operations and principal activit1è5 are set out in the Trusiees. Report on page 2. The charity constitutès a public bentrfrt tntity a5 d￿ll￿d by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charitie5 prepartn8 their account5 in accordance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland issued in Ortober 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial siatements are prepared on a Boing concern basis under the historical c05t convention. The financial Statements are prepared in sterlin8 which is the functional currency of the charity and rounded to the nearest £1. The significaftt accounting polities applied in the prepafatron of these financial statements are set out below. These polities have been tonsistently applitd to all years presented unless otherwise stated. Group accoynls The accounts con501idate the resu￿5 of the charity and its wholly owned subsidiary. SPPHPT Trading Company Limited ¢)n • line-by-line basis. The trustees have tsken atfvants8e of $408 Companie5 Aci 2006 frorn the requirement to prepare a sepafate Statement of Financial Artivities for the charity. The net incomin¥ resources dealt with in the accounts of the charity are £69.94712022: £333.8761. Funds Unrestricied funds are available for use at the discretion of the trustees in furtherarKe of the general objertives of the Charity and wh￿h have not been designated for other purposes. t)esignated funds comprise unre5trirttd funds that have been set aside by the trustees for partKular purpose5. The aim and use of e3¢h designated fvnd is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordantt with specific restrirtions imposed by donors or which have been raised by the charity for particular purpose5. The cost of raising and administering such funds is charged a8ainst the specific fvnd. The aim and Use of each restricted fund b5 set out in the notes to the finanoal statements. SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to the Accounts Year ended 31 Marth 2023 Summary Ol a¢¢ounting poliw Irmtinuedl {c} Income rewnltlon All incomin8 Tesourtes are intluded in the Statement of Financial Artivit1è5 ISOFAI whèn the charity is legally entitled to the income after any performance conditions have been met. the #mount can be measured reliably and it is probable that the income wll be received. For donation5 lo be recognised the thzrity will have been notif*d of the amounts and the settlement date in writing. If there are tondttions attached to the Llonation and this rÈquires a level of performance before entitlement can be obtained then income 15 deferred until those conditTron5 are fully mei or the fulfilment of thost tonditions is within the Control of the chairty ènd it 15 probable that they will be fulfilled. No amount is induded in th• financial statements for volunteer time in line with the SORP IFRS 1021. Income from charitable activitie5 includes incorne received under contrart or where entitlement to grant funding is subject to special performance conditions and is recognised as earned as the related services are provided. Grant income included in this cate80ry provides funding to support pèrformance artivities and is reco8nised when there 15 entitlemenL certainty of receipt and the amtsLFnts can be measured wlth sufficient reliability. Investment income is eamed through holding assets for in¥estment purposes such as bank deposits. Id) Expendlture r¢cognltlon All expenditure is accounted for on an accruals basis and has been classified urider headings that a68re8ate all costs related to the category. Expenditure is recoenised where there ￿ a legal or construrtNe obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised undef the following headings.. Expenditure on charitable #ttivbties indudes the wsts of ass¢xiated events. Maintertan￿ of the buildin8 and wa8es and salaries. Other expenditure represents those items not falling into the catègory above. Irrecoverable VAT ts charged as an expense against the attivity for whkh expenditure arose. IÈ) Support costs allocatlon Support Costs are those that assist the work of the charity but do not directly represent charitable actrvities and include office costs. governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the chartty and include project management carried out at the charivs registered office. Where support costs cannot be directly attributed to particular headings they have been allocated to Cost of raising funds and expenditure on charitable actNlties on a basis consistent with use of the resources. (fj Tanllble flxed a55ets Tangible fixed a55ets are ststed at cost lor deemed c05tl or valuation less accumulated depreciation and accumulated impairment losse5. C05t includes costs dirertly attributsble to making the asset capable of operating as intended_ Depreciation 15 provided on all tangible h.xed 35sets, at rates calculated to write off the cost, less estimated residual value. of each asset on a systematic basis over its expected useful life as follows: Building renovations Equipment Fixture5 and fittings 20% styaight lint 20% straight line 33% straight line SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to the Accounts Year ended 31 March 2023 Summary of •¢tounting polkles l¢ontinued) lil De￿or5 and cledltors re￿1¥al￿e I payable within one ￿al Debtors and credrtors with no stated interest rate and receivable or payable within one year are recordÈd at transaction price. Any losses arising from impairment are recognised in expenditure. Ihl Operatlni lease5 Renta15 payable under operating leases are charged to the SOFA on a straight line basi5 over the period of the lease. li) Employee beneffts The tharity operates a defined contribution plan for the benefit of Ots employees. Contributions are expensed as they becorne payable. In Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Art 2011 and 15 considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Ikl Goin8 concem The financial ststement5 have been prepared on a going concern basis as the tiustees believe that no material uncertainties exist. The trtJ5tee5 have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. Total 2023 Total 2022 Income from raislngfunds Donations and other sundry income Grant income- Government grants 37.469 37,469 29,143 15,887 37.469 37,469 45,030 Total 2023 Total 2022 Investment Income Bank interest recèivable 1.562 1,562 Income from thaiilable artivilies Tgtal 2023 Total 2022 Vnrestrlrted Restrlrted Fundraising events Grant income- HLF signage & interpretation Membership subscriptions 26.299 26.299 74,011 1.571 6,558 33.926 74,011 1.571 27.870 74.011 101,881 40,484 131Page SEFfoN PARK PALM HOUSE PRESERVATION TRUST Note5 lo the Accounts Year ended 31 March 2023 Commercial irading operaiions 2023 2022 Subsidlary company Turnover Cost of salès 855,085 1169.5131 859.165 1160.6921 Gross profit Administration expenses Other income 68S.572 1216.9231 698.473 1221.1801 22,414 Surplus before taxation Taxation 468.709 499,707 S￿r￿U5 after taxation Dlstribution to parent company 468,709 1469.1XlOI 499.707 1598.4931 Deficitlsurplus for the period 12911 198.7861 Fi¥ed assets Curreni assets Creditors due within one year 742,090 1741.1671 1,006,504 11,005,290) Total net 3$5ets 923 1,214 The tharity. together with the trustees. hold all the voting rights of SPPHPT Trading Limited, a company Incorporated in England and Wales, which organises commercial hire of the Palm House and evènts. A gift aid donation amounting to £469,(XX)12022= £598.4931 has been eliminated on consolidation. Anal¥sls of e¥penditure on raisin8fvnds Unrertrltttd Unrestrlcted nds lunds Staff cosls Fundraisin8 and publicity Trading costs 170.846 33.549 169.S14 143.211 16.119 160,592 373,909 319.922 Anatysis of éxpènditu￿ on aritable activities Total 2023 Total 2011 Direct cost5 Staff costs Support Costs 99.775 224.437 IS4.209 74.011 173.786 224.437 IS4.209 127.875 194.895 89.216 Total 478.421 74,011 552,432 411,986 141 Pagè SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to the Accounts Year ended 31 March 2023 Support costs 2023 2022 Governance costs (note 91 Depreciation Legal and professional Information tethnoloBy Advertising Telephone Printin8 and stationery Subscription Premises costs Insurance Other Bad debts Recruitment Equipment 16.330 16.174 48.354 12,312 16.420 14.205 5.152 6,796 Iso 1,606 4.664 5.867 22.279 3.838 6,828 1,411 2,494 6.116 7.645 27.643 4.247 2.999 5,090 4,805 154.209 89.216 Go¥emance costs 2023 2022 Independent examination fees Accountancy 1.200 15.130 935 IS.485 16.330 16,420 10. Net out80in8 re￿￿r(e$ lorthe year This is stated after charginB: Total 2023 T¢tal 2022 Depreciation External examinerfs fees- Independent examination Accountanc¥ 16.174 14,205 1.200 15,130 935 15,485 11. Staff Costs and numbers Total 2023 Total 2022 Salarie5 and wages Social security costs Pension contributions 370,137 19.813 5.333 316,874 16.409 4.823 395,283 338,106 There are no employee5 earning at the rate of £60,(KKI or more per annum. The amount above includes £13S.23012022: £125.3501 paid to Key Management Personnel during the year. The Charity deem the key management personnel to be the director. head of external relations, head of business development and head of operations. Total termination and redundancy payments of £26.000 were realised durin8 the year from unrestricted funds. 151 Page SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to ihe Accounts Year ended 31 March 2023 11. Siaff co#$ athd numbets {¢ontinu¢dl. The average weekly number of employees durin8 the year. calculated on the basis of full time equivalents, was as follows-_ 2023 Number 2022 Number Total 28 25 None of the trustees lor any persons connected with theml received any remuneration or reimbursed expenses durin8 the year12022 £Nill. 12. Twlion The company 15 exempt from corporation tax on its charitable artivrties. 13. Tanglble fimed assèts Buildlng renovations Fimtures & Flttin Equlpmertt Totsl Group and company Cost gr va￿3t10Th At l April 2022 AdditlQnS L>sp05a15 74.976 73.458 127.263 7,166 275,697 7,166 At 31 March 2023 74.976 73.458 134.429 282,863 Oepreclation At l April 2022 Charge for period Di5P05als 72,897 L189 73.458 56.120 14.985 202,475 16.174 At 31 March 2023 74,086 73,458 71,105 218,649 Net book value At 31 March 2023 890 63,324 64,214 At 31 March 2022 2,079 71,143 73,222 14. Stocks Group Cofflpany 2023 2022 2022 Goods for resale 9.670 8,856 161P3ge SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to the Accounts Year ended 31 March 2023 15. Dtbtors Group Company 2023 2OZ2 2023 Z022 Trade debtors Accrued incorne #nd prepaymeftts Amounts due from subydiary undertaking 76.472 31.971 74.837 55.991 20.14S 241 213.301 11.530 5.833 517.311 108.443 130.828 233.687 534.674 16. Credltors: Amounts fallSn8 due withon one year Group Companv 2023 2023 2022 Trade creditors Other taxes and social security Accruals and defèrred income 28,538 51.867 461.492 17.7SI 47.160 439.231 5,723 4.432 5.021 6.710 8,230 541.897 504,142 13,953 16,163 17. R¢¢onciliation of net Incomellexpendlturel to net ¢a5h IIow5 from Operat1￿ adlvhles Tol•l 2023 Total 2022 Net incomell*X￿ndbture) for the reportin8 pèrlod as perthe statement of financial adivities 69,676 235,190 Interest receNable Depreciation char8es Ilntreaselldecrease in stock Decreaselllncreasel in debtors Increase/ldècreasel in creditors 11.S621 16,174 18141 22,385 37,735 151 14,205 385 113,5611 18.380 Net cash provkled by {u5ed Inl operatin¥ arti¥ltles 143.594 254,594 18. Analysls of cash and cash equivalents Total 2023 Total 2022 Cash in hand Cash at bznk 5,884 1.154.039 7.797 1.014,136 Total of cash and cash equlvalents I,IS9.923 1.021,933 There are no financial liabilities classified as debt held bythe charity. SEFTON PARK PALM HOUSE PRESERVATION TRUST Notes to the Accounts Year ended 31 March 2023 19. Rel*ed partylransadlons There were no transactions with related parties during the year. 20. Funds Incomlng 01.04.22 Resources OutgoSng resources A5at 31.03.23 Translers Unrestrirttd fund5 Gr¢￿P General lund Designated funds lsee belowl 400.697 330,(bXI 921.986 {852,3301 1112,5001 ioJ,coo 357.853 430,000 730,697 921,986 {852,3301 112,5001 787,853 Company General fund Designated funds Isee below) 399.483 330.( 673.725 1603.7781 {112.5001 iOO.C(M) 356.930 430,000 729,483 673.725 1603,7781 112.5001 786,930 De￿￿ated fvnds Utlllsedl released In year 01.04.22 deslgnations 31.03.23 Group and comp Emergency operatin8 fund 330,0 100,c 430,0(XI Comparative information in respert of the preceding period is as follows:_ Fub)ds Incomini Resoyrres Outgoing resources Asat 31.03.22 OL04.21 Translers unrestricted funds Group General fund Designated funds Isee below) 225.507 270.( 933.172 1697.9821 I60,(￿)} 60,C￿> 4￿.697 330.(O) 495.507 933.172 1697.9821 730,697 Company General fund Designated funds (see below) 125.507 270.(KX) 730.448 1396.4721 160,CIK)I 60,000 399.483 330.(MJO 39S.507 730,448 13%.4721 729,483 f)eswattd lynds Utlllsedl released In vear New deslEnathns Asat >1.03.ZZ 01.04.21 Group and company EmerRency operating fund 270.CiKJ 330,( SEFTON PARK PALM HOUSE PRESERVATION TRUST Noles to the Accounts Year ended 31 March 2023 Restrkt•d funds Asat Incomkng Out8oln¥ Rewurces Asat 31.03.23 Tr•b)sfers Group and company Heritage Lottery Fund Fanchon Fronlich Grant 74.011 174,0111 12.500 12,5 74,011 174,0111 12,500 12,5CK) Comparative information in respert of the preceding period is as folk>ws:. Restrkted lunds As at Incomlnz Outyoing 01.04.21 Resources Resouries Asat 31.03.22 Transfers Group and companv Heritage Lottery Fund 33,926 133,9261 33.926 133,9261 22. Anatysls of net assets between fvnds Desitnated fund5 Tolal Funds Funds fvnds Group Tangible fixed assets Net current assets 64.214 293,639 64.214 736.139 12.500 430.000 Net assets at 31 March 2023 357.853 125(Xi 430,000 800.353 Compan¥ Tangible fixed assets Net current assets 64,214 292,716 64,214 735.216 12.SC 430.000 Net assets at 31 Mar