SEFTON PARK PALM HOUSE PRESERVATION TRUST
ANNUAL REPORT AND ACCOUNTS
for the year ended
31 March 2024
REGISTERED NUMBER: 03272897 CHARITY NUMBER: 1059957
SEFTON PARK PALM HOUSE PRESERVATION TRUST
Accounts
for the year ended 31 March 2024
| Contents | Page |
|---|---|
| Company Information | 1 |
| Report of the Trustees | 2 |
| Independent Examiner’s Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheets | 9 |
| Statement of Cash Flows | 10 |
| Notes to the Accounts | 11 |
SEFTON PARK PALM HOUSE PRESERVATION TRUST
Charity Information for the year ended 31 March 2024
| Company number: | 03272897 |
|---|---|
| Charity number: | 1059957 |
| Trustees: | A Brown (Resigned 27 November 2023) |
| L Burman (Resigned 20 March 2024) | |
| N Dickson | |
| D Ellis | |
| K Rodenhurst | |
| C Smith | |
| P Wilsher | |
| Registered office: | Sefton Park Palm House |
| Sefton Park | |
| Liverpool | |
| L17 1AP | |
| Bankers: | CAF Bank Limited |
| 25 Kings Hill | |
| West Malling | |
| Kent | |
| ME19 4JQ | |
| Independent Examiner: | L Casey ACA |
| Mitchell Charlesworth | |
| Accountants | |
| 5 Temple Square | |
| Temple Street | |
| Liverpool | |
| L2 5RH |
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
The trustees (who are also the directors of the company for the purposes of the Companies Act) present their annual report together with the accounts of the charity for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's governing document, applicable law and the requirements of the Statement of Recommended Practice, 'Accounting and Reporting by Charities (SORP 2019).
Governing document
The Trust is a company limited by guarantee incorporated on 7 March 2001 and is governed by a Memorandum and Articles of Association dated 1 November 1996 (as amended in 2016).
Organisation
The Board of Trustees, which must have a minimum of three and a maximum of fifteen, administers the Trust.
The Palm House has a small employee base, consisting of 6 full time staff and 24 part time staff, who run the Palm House on a day-to-day basis.
The Board of Trustees delegates responsibility for operational running of the Trust to the Chief Executive Officer.
Objects and activities
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To preserve for the public benefit of the people of the County of Merseyside and of the nation at large, the building known as Sefton Park Palm House, Sefton Park, Liverpool.
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In the interests of social welfare to provide or assist in the provision of facilities for recreation and other leisure time occupation for the public at large with the object of improving their conditions of life.
To preserve the building, architecture and plants
The building and grounds of Sefton Park Palm House continue to be maintained by Liverpool City Council, with the Charity providing additional support for the care of the plant collection and improvements to enable public use.
To establish broad recreational activity
The Palm House 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 and its fine collection of plants. Admission is free.
A broad programme of events, community partnerships and educational activities bring the recreational benefits of the Palm House to a diverse range of audiences.
The Palm House holds the Green Tourism Award at Gold level as well as the VAQAS award from Visit England.
Revenue
The Trust’s main source of income was generated through venue hire and the catering commission associated with venue hire events. Other sources of income include on-site catering (café and kiosk provision), bar sales, retail sales, donations and grants. Income remained strong throughout the period. Income forecasts for future periods are also strong, and the organisation remains financially stable.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
Public benefit
The trustees are committed to maintaining a balance between ensuring the future of the Palm House for all through generating income and delivering public access and benefit for a broad range of audiences.
The trustees have due regard to the guidance published by the Charity Commission on public benefit.
Achievements and Performance
This year, sustained efforts in the development of key community partnerships resulted in a considerable number of successful events and collaboration of local community organisations. The cultivation event was established as an annual event in July 2023. The event is a true celebration of the collaboration with and generous support of local community organisations. Key to the success in this area has been conclusion of the National Lottery Heritage Funded (NLHF) interpretation project in partnership with Liverpool City Council. The NLHF national team visited the Palm House in June 23 in recognition of the impact of this project.
Community and public programme events supported by NLHF project continued, with highlights including the continuation of community markets featuring local makers, such as Sisterhood Soiree with L8 Business Collective and the Black Men’s Group market.
The project significantly resulted in the installation of interpretation of both the plant collection and historic building and statues of the Palm House. The Palm House’s links to both colonial history and transatlantic slavery were made more transparent as a result. A new family trail was launched in February half term 2024 alongside additional programming for families.
Additional support from the Fanchon Frolich Foundation enabled a winter artist residency and exhibition in December 2023. Following an open process for expressions of interest, Birdcage CIC were appointed as the artist in residence. This project gave opportunity to continue the work achieved through the Lottery Programme to develop audiences. The exhibition Birdcage was displayed from 11 – 21 December 2023. A participatory arts project ran prior to and during the exhibition, ensuring that local people including school groups and adults could be involved in the making of art displayed at the Palm House during this time. This project demonstrated the clear potential for the Palm House to be a location for visual participatory arts projects.
The Birdcage project gave further opportunity for engagement with local schools. This supported work delivered during the year to continue school visits following success in establishing this offer in 2022-2023. In this year, 16 school visits took place involving 606 school children visiting the Palm House to take part in an introductory school session.
The Palm House hosted other pop-up exhibitions during this period, including My Memories focusing on dementia awareness in April, Sefton Park Sports Club exhibition and the Dragon Boat Festival exhibition in June, Being Human Festival in partnership with Liverpool John Moores University and a display relating to Liverpool’s groundbreaking LGBTQ+ Festival Homotopia. The exhibitions brought new audiences to the Palm House and celebrated meaningful community initiatives.
White Badge Tour Training was offered to five volunteers and a staff member to develop the guided tour offer. A comprehensive training programme was delivered encompassing all aspects of the Palm House history and heritage. This led to the Palm House’s being the only white badge location within Liverpool City Region.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
A chievements and Performance cont….
The Palm House was shortlisted in two categories at the 2023 Liverpool City Region Tourism Awards - the best small visitor attraction and the ethical, responsible and sustainable tourism award. Although, we were not the overall winner in these categories, the feedback from the judges was strong and highlighted the quality of the welcome from our team. The Palm House’s dedicated horticulturist gardener, Colin Hughes, was also shortlisted in the Unsung Heroes award in the same awards, in recognition of his outstanding personal contribution and achievements over 30 years of service.
In January of 2024, the organisation made considerable investment through a refurbishment project of the basement areas, resulting in much improved public facilities to support both the quality of the visitor experience and in support of commercial events.
The Board of Trustees recruited a new Chief Executive Officer in November 2023, to lead on operational aspects of the organisation and to further develop the strategy. Together, the Board of Trustees, Palm House staff team and CEO, through several away days in January and March, worked together to define a new mission for the organisation “rooting for people, plants and place”.
Building on previous work on a draft strategy, they also defined a number of strategic aims which are by 2030 to:
Improve the wellbeing of local residents
The Palm House will be renowned as a place for wellbeing. It will provide opportunities for all visitors to connect to and enjoy nature through a positive and high-quality visitor experience. It will also develop targeted wellbeing programmes for its local communities and neighbourhoods. The five ways to wellbeing will be embedded in its culture, programmes and opportunities; enabling ways for local people of all ages to socially connect, increase their activity, enjoy nature, take notice and give back.
Build understanding of the value of plants
The Palm House will enable people to deepen their knowledge and understanding of the value of plants and their importance to our daily lives. It will do this by exploring opportunities to enhance the care of the Liverpool Botanical collection by working with Liverpool City ouncil and others through skills development in horticulture. It will encourage local people to get hands on with growing plants and food through its own programmes and in partnerships with others.
The Palm House will operate in an environmentally sustainable manner and helps people understand the biodiversity crisis.
Provide opportunities for education & skills development
The Palm House will provide opportunities for early years, schools, further and higher education, children, young people, and adults to improve their knowledge and understanding of plants, the history and heritage of the Palm House, Sefton Park and Liverpool including our connection to the colonialism, Transatlantic Slavery, and their legacies.
It will create opportunities for skills and personal development including confidence and creativity. It will support developing the employability of local people through work experience, placements, and training programmes.
Support pride in place
Local people will be proud of the Palm House and enjoy bringing their friends and family to visit. The story of the Palm House and how it was saved by people power will inspire. There will be local and national pride in the ambitious standards the Palm House has, the high quality of the visitor offer and how the building, grounds and plant collections are maintained and presented.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
A chievements and Performance cont….
The Palm House will welcome people from local diverse communities to celebrate and take pride in their environment, culture, contributions, talents, and skills, through co-production of programmes and the celebration of local makers and producers. Local people will have a keen sense of ownership of the Palm House as a key heritage asset.
Inclusion and representation
The Palm House will be known as a safe space for all. Everyone will feel safe, welcomed, and represented and included through the Palm House’s programme, staff, trustees and volunteer teams. Our colleague, volunteer and audience profiles will be directly representative of our local neighbourhoods, and we will create opportunities for diverse communities through all strands of our work. The Palm House will recognise that equity, diversity and inclusion are essential for us to achieve our charitable purpose. It invests in this area ensuring all trustees and colleagues are well trained and informed.
Sustain and diversify income
The Palm House will continue to successfully raise its own income through a healthy and high-quality commercial offer through a balanced mix of weddings and other private hire, a fantastic and consistent inhouse food and beverage offer and high-quality merchandise. We will grow our fundraising through trusts and foundations and through developing multiple opportunities for individual-giving capitalising on the important levels of local support for the Palm House, through its campaigning story and through the positive associations with the venue as a site for happy life celebrations.
The growth in income raised will enable the Palm House to deliver more for communities.
The strategic aims will be developed further within 2024-2025.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
Plans for future periods
In the next period, we will deliver a new approach to consistent opening times to ensure that the balance between public benefit and commercial income is appropriate and to support operational efficiency. Other operational priorities will be to review the terms of SPPHPT’s occupancy and guardianship of the Palm House site with Liverpool City Council as our main partner and stakeholder.
Following a review of governance with support from an external facilitator, our governance priorities will be to recruit additional trustees and to strongly encourage applications from people from racially minoritised communities, disabled and neurodivergent communities to ensure our Board composition reflects that of local communities and to enable us to fully be able to develop our strategic aims, and to develop a stronger Equity, Diversity and Inclusion Policy and associated action plan.
A key focus for the next period will be the delivery of key plans against the strategic aims. In 2024- 2025, we will:
Improve people’s wellbeing through removing barriers for local people to get active by piloting and evaluating ‘donate what you can afford’ for yoga and other wellbeing courses. We will also increase the opportunities for engagement by local families through embedding a free and consistent family offer in school holidays.
Build understanding of the value of plants by starting to improve the conditions for plant care within the Palm House operations in consultation with our specialist gardener and by beginning to explore the future care and development of Liverpool Botanical collection in partnership with key partners and stakeholders.
Provide opportunities for education & skills development through building on the success of the NLHF project to consult with schools to develop a curriculum informed offer and resources (prioritising early years and primary). We will seek funding from trusts and foundations to support this work. We will also establish opportunities for all visitors to develop knowledge and understanding of the history of the Palm House through the roll out of the white badge tours for organised groups and through public programme events.
Support pride in place by safeguarding the story of the campaign to save the Palm House by depositing our historic archive with Liverpool Record Office and exploring potential for an associated oral history project. We will also highlight the talent of local people through our public programme featuring local artists and local makers being part of our merchandise offer.
Improve inclusion and representation of local diverse communities through continuing to deliver diverse community partnership events and beginning to develop our Equity, Diversity and Inclusion action plan following trustee recruitment.
Sustain and diversify income through the establishment of a new opening times structure which enables the growth of a developed food & beverage and merchandise offer and the piloting of more food and beverage events such as afternoon teas and bar events.
We will also within the next period develop stronger methodology and infrastructure to enable us to understand our audiences with a view to developing a comprehensive audience development plan in the longer term.
Risk management
Sefton Park Palm House Preservation Trust's board of trustees review risk on a regular basis and with the CEO maintain a risk register to monitor all significant risks to the operation of the organisation, its assets and stakeholders.
Reserves policy
It is the responsibility of the trustees to assess the main risks the Trust is exposed to, particularly those relating to the operations and finances of the Trust. The trustees undertake this assessment and ensure that systems are in place to mitigate and manage the Trust's exposure to any major risks.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Report of the Trustees for the year ended 31 March 2024
The Trustees have confirmed the requirement to maintain free reserves equivalent to 12 months administration costs (circa £430K) in order to absorb major fluctuations in income received without curtailing services to its beneficiaries.
Trustees
During the year the Trustees took part in key training from NCVO.
Seven trustees serviced during the year and there were two resignations.
The Trustees who serviced during the year are detailed on page 1.
By Order of the Trustees
Navid Clie
D Ellis Chair
P Wilsher Trustee
25 November 2024
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Mitchell Charlesworth
Accountants
5 Temple Square · Temple Street · Liverpool · L2 5RH
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SEFTON PARK PALM HOUSE PRESERVATION TRUST
I report to the charity trustees on my examination of the accounts of the group for the year ended 31 March 2024 which are set out on pages 7 to 20.
Responsibilities and basis of report
As the charity trustees of the group (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the group 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 your group’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the group’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the 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
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
MitChoul Charlaswortt
L Casey ACA MITCHELL CHARLESWORTH Liverpool
25 November 2024
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2024
| Unrestricted Restricted Notes Funds Funds Income from:- £ £ Donations 2 29,522 - Charitable activities 4 14,782 35,114 Investment income 3 7,369 - Commercial trading operations 5 827,190 - Total income 878,863 35,114 Expenditure on:- Raising funds 6 364,759 - Charitable activities 7 453,200 47,614 Total expenditure 817,959 47,614 Net income/(expenditure) 60,904 (12,500) Transfers between funds - - Total of funds brought forward 787,853 12,500 Total funds carried forward 848,757 - |
Total 2024 £ 29,522 49,896 7,369 827,190 913,977 364,759 500,814 865,573 48,404 - 800,353 848,757 |
Total 2023 £ 37,469 101,881 1,562 855,085 995,997 373,909 552,432 926,341 69,656 - 730,697 800,353 |
|---|---|---|
All activities relate to continuing operations.
The notes on pages 11 to 20 form part of these accounts.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2024
Comparative information for the year ended 31 March 2023
| Unrestricted Restricted Notes Funds Funds Income from:- £ £ Donations 2 37,469 - Charitable activities 4 27,870 74,011 Investment income 3 1,562 - Commercial trading operations 5 855,085 - Total income 921,986 74,011 Expenditure on:- Raising funds 6 373,909 - Charitable activities 7 478,421 74,011 Total expenditure 852,330 74,011 Net income/(expenditure) 69,656 - Transfers between funds (12,500) 12,500 Total of funds brought forward 730,697 - Total funds carried forward 787,853 12,500 |
Total 2023 £ 37,469 111,881 1,562 855,085 995,997 373,909 552,432 926,341 69,656 - 730,697 800,353 |
|---|---|
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Balance Sheets 31 March 2024
| Notes | Consolidated | Consolidated | Company | Company | |
|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 13 | 198,260 | 64,214 | 47,293 | 64,214 |
| Current assets | |||||
| Stock | 14 | 8,693 | 9,670 | - | - |
| Debtors | 15 | 102,012 | 108,443 | 355,376 | 233,687 |
| Cash at bank and in hand | 1,045,868 | 1,159,923 | 465,220 | 515,482 | |
| 1,156,573 | 1,278,036 | 820,596 | 749,169 | ||
| Creditors: amounts falling due | |||||
| within one year | 16 | 506,076 | 541,897 | 19,953 | 13,953 |
| Net current assets | 650,497 | 736,139 | 800,643 | 735,216 | |
| Total net assets | 848,757 | 800,353 | 847,936 | 799,430 | |
| Funds | |||||
| Unrestricted funds | |||||
| General funds | 19 | 418,757 | 357,853 | 417,936 | 356,930 |
| Designated funds | 19 | 430,000 | 430,000 | 430,000 | 430,000 |
| 848,757 | 787,853 | 847,936 | 786,930 | ||
| Restricted funds | 20 | - | 12,500 | - | 12,500 |
| Total funds | 21 | 848,757 | 800,353 | 847,936 | 799,430 |
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees’ responsibilities
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a) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
b) The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Approved by the Trustees on 25 November 2024, authorised for issue and signed by:-
D Ellis P Wilsher Trustee Trustee Company Registration Number: 03272897
The notes on pages 11 to 20 form part of these accounts.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Statement of cash flows For the year ended 31 March 2024
| Notes Cash flows from operating activities Net cash provided by (used in) operating activities 17 Cash flows from investing activities Interest received Fixed asset acquisitions Change in cash and cash equivalents in the year ending 31 March 2024 Cash and cash equivalents as at 1 April 2023 18 Cash and cash equivalents as at 31 March 2024 18 |
Total 2024 £ 59,543 7,369 (150,967) (114,055) 1,159,923 1,045,868 |
Total 2023 £ 143,594 1,562 (7,166) 137,990 1,021,933 1,159,923 |
|---|---|---|
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
1. Summary of accounting policies
(a) General information and basis of preparation
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 to £1 per member of the charity. 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 set out in the Trustees’ Report on page 2.
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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Group accounts
The accounts consolidate the results of the charity and its wholly owned subsidiary, SPPHPT Trading Company Limited on a line-by-line basis.
The trustees have taken advantage of S408 Companies Act 2006 from the requirement to prepare a separate Statement of Financial Activities for the charity. The net incoming resources dealt with in the accounts of the charity are £48,416 (2023: £69,947).
(b) Funds
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 unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
1. Summary of accounting policies (continued)
(c) Income recognition
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
Income from charitable activities includes income received under contract 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 category provides funding to support performance activities and is recognised when there is entitlement, certainty of receipt and the amounts can be measured with sufficient reliability.
Investment income is earned through holding assets for investment purposes such as bank deposits.
(d) Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive 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 under the following headings:
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Expenditure on charitable activities includes the costs of associated events, maintenance of the building and wages and salaries.
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Other expenditure represents those items not falling into the category above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
(e) Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at the charity’s 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 activities on a basis consistent with use of the resources.
(f) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, 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 - 20% straight line Equipment - 20% straight line Fixtures and fittings - 33% straight line
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
1. Summary of accounting policies (continued)
(g) 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.
(h) Operating leases
Rentals payable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.
(i) Employee benefits
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.
(j) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
(k) 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.
| 2. Income from raising funds Unrestricted Restricted £ £ Donations and other sundry income 29,522 - 29,522 - 3. Investment income Unrestricted Restricted £ £ Bank interest receivable 7,369 - 4. Income from charitable activities Unrestricted Restricted £ £ Fundraising events 13,765 - Grant income - HLF signage & interpretation - 35,114 Membership subscriptions 990 - 14,755 35,114 |
Total 2024 £ 29,522 29,522 Total 2024 £ 7,369 Total 2024 £ 13,765 35,114 990 49,869 |
Total 2023 £ 37,469 37,469 |
|---|---|---|
| Total 2023 £ 1,562 |
||
| Total 2023 £ 26,299 74,011 1,571 101,881 |
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
| 5. Commercial trading operations Subsidiary company Turnover Cost of sales Gross profit Administration expenses Other income Surplus before taxation Taxation Surplus after taxation Distribution to parent company Deficit/Surplus for the period Fixed assets Current assets Creditors due within one year Total net assets |
2024 £ 827,190 (162,949) 664,241 (260,935) 10,682 413,988 - 413,988 (414,000) (12) 150,967 671,309 (821,455) 821 |
2023 £ 855,085 (169,513) 685,572 (216,923) 60 468,709 - 468,709 (469,000) (291) - 742,090 (741,167) 923 |
|---|---|---|
The charity, 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 events. A gift aid donation amounting to £414,000 (2023: £469,000) has been eliminated on consolidation.
6. Analysis of expenditure on raising funds
| 6. | Analysis of expenditure on raising funds | Unrestricted | Unrestricted | ||
| funds | funds | ||||
| £ | £ | ||||
| Staff costs | 178,474 | 170,846 | |||
| Fundraising and publicity | 23,336 | 33,549 | |||
| Trading costs | 162,949 | 169,514 | |||
| 364,759 | 373,909 | ||||
| 7. | Analysis of expenditure on | Total | Total | ||
| Charitable activities | Unrestricted | Restricted | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Direct costs | 70,488 | 47,614 | 118,102 | 158,105 | |
| Staff costs | 198,016 | - | 198,016 | 224,437 | |
| Support costs | 184,696 | - | 184,696 | 169,890 | |
| Total | 453,200 | 47,614 | 500,814 | 552,432 |
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
| 8. Support costs Governance costs (note 9) Depreciation Legal and professional Information technology Telephone Printing and stationery Subscription Premises costs Insurance Other Staff training, welfare and HR costs Recruitment Equipment 9. Governance costs Independent examination fees Accountancy 10. Net outgoing resources for the year This is stated after charging: Depreciation External examiner’s fees: Independent examination Accountancy 11. Staff costs and numbers Salaries and wages Social security costs Pension contributions |
2024 £ 17,760 16,921 55,426 14,122 3,166 2,948 6,735 17,950 9,162 4,593 16,625 13,348 6,213 184,969 2024 £ 1,500 16,260 17,760 Total 2024 £ 16,921 1,500 16,260 Total 2024 £ 355,180 16,043 5,266 376,489 |
2023 £ 16,330 16,174 48,354 12,312 2,494 6,116 7,645 27,643 4,247 2,999 15,681 5,090 4,805 169,890 2023 £ 1,200 15,130 16,330 Total 2023 £ 16,174 1,200 15,130 Total 2023 £ 370,137 19,813 5,333 395,283 |
2023 £ 16,330 16,174 48,354 12,312 2,494 6,116 7,645 27,643 4,247 2,999 15,681 5,090 4,805 169,890 2023 £ 1,200 15,130 16,330 Total 2023 £ 16,174 1,200 15,130 Total 2023 £ 370,137 19,813 5,333 395,283 |
|---|---|---|---|
| Total 2023 £ 370,137 19,813 5,333 395,283 |
There are no employees earning at the rate of £60,000 or more per annum.
The amount above includes £111,793 (2023: £135,230) 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.
.
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
11. Staff costs and numbers (continued).
The average weekly number of employees during the year, calculated on the basis of full time equivalents, was as follows:-
| full time equivalents, was as follows:- | ||
|---|---|---|
| 2024 | 2023 | |
| Number | Number | |
| Total | 26 | 28 |
None of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year (2023 £Nil). However, as detailed in note 24, L Burman, a trustee of the charity, invoiced £32,460 (2023: £11,000) to the charity for services rendered.
12. Taxation
The company is exempt from corporation tax on its charitable activities.
| 13. | Tangible fixed assets | Building | Fixtures & | |||
|---|---|---|---|---|---|---|
| renovations | Equipment | Fittings | Total | |||
| Group and company | £ | £ | £ | £ | ||
| Cost or valuation | ||||||
| At 1 April 2023 | 74,976 | 73,458 | 134,429 | 282,863 | ||
| Additions | 144,594 | - | 6,373 | 150,967 | ||
| Disposals | (40,827) | - | - | (40,827) | ||
| At 31 March 2024 | 178,743 | 73,458 | 140,802 | 393,003 | ||
| Depreciation | ||||||
| At 1 April 2023 | 74,086 | 73,458 | 71,105 | 218,649 | ||
| Charge for period | 890 | - | 16,031 | 16,921 | ||
| Disposals | (40,827) | - | - | (40,827) | ||
| At 31 March 2024 | 34,149 | 73,458 | 87,136 | 194,743 | ||
| Net book value | ||||||
| At 31 March 2024 | 144,594 | - | 53,666 | 198,260 | ||
| At 31 March 2023 | 890 | - | 63,324 | 64,214 | ||
| 14. | Stocks | Group | Company | |||
| 2024 | 2023 | 2024 | 2023 | |||
| £ | £ | £ | £ | |||
| Goods for resale | 8,693 | 9,670 | - | - |
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Notes to the Accounts Year ended 31 March 2024
| 15. Debtors Group 2024 2023 £ £ Trade debtors 75,574 76,472 Accrued income and prepayments 26,438 31,971 Amounts due from subsidiary undertaking - - 102,012 108,443 16. Creditors: Amounts falling due within Group one year 2024 2023 £ £ Trade creditors 25,625 28,538 Other taxes and social security 20,374 51,867 Accruals and deferred income 460,077 461,492 506,076 541,897 17. Reconciliation of net income/(expenditure) to net cash flows from operating activities Net income/(expenditure) for the reporting period as per the statement of financial activities Interest receivable Depreciation charges (Increase)/decrease in stock Decrease/(Increase) in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities 18. Analysis of cash and cash equivalents Cash in hand Cash at bank Total of cash and cash equivalents There are no financial liabilities classified as debt held by the charity. |
Company 2024 2023 £ £ 19,156 20,145 888 241 335,332 213,301 355,376 233,687 Company 2024 2023 £ £ 6,613 5,723 6,968 - 6,372 8,230 19,953 13,953 Total 2024 Total 2023 £ £ 48,404 69,676 (7,396) (1,562) 16,921 16,174 977 (814) 6,431 22,385 (5,794) 37,735 59,543 143,594 Total Total 2024 2023 £ £ 8,693 5,884 1,037,175 1,154,039 1,045,868 1,159,923 |
|---|---|
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Notes to the Accounts Year ended 31 March 2024
| 19. Funds Unrestricted funds Group General fund Designated funds (see below) Company General fund Designated funds (see below) Designated funds Group and company Emergency operating fund Comparative information in respect Funds Unrestricted funds Group General fund Designated funds (see below) Company General fund Designated funds (see below) Designated funds Group and company Emergency operating fund |
As at Incoming Outgoing As at 01.04.23 Resources resources Transfers 31.03.24 £ £ £ £ £ 357,853 878,863 817,959 - 418,757 430,000 - - - 430,000 787,853 878,863 817,959 - 848,757 356,930 537,099 476,093 - 417,936 430,000 - - - 430,000 786,930 537,099 476,093 - 847,936 As at 01.04.23 New designations Utilised/ released in year As at 31.03.24 £ £ £ £ 430,000 - - 430,000 of the preceding period is as follows:- As at Incoming Outgoing As at 01.04.22 Resources resources Transfers 31.03.23 £ £ £ £ £ 400,697 921,986 (852,330) (112,500) 357,853 330,000 - - 100,000 430,000 730,697 921,986 (852,330) (12,500) 787,853 399,483 673,725 (603,778) (112,500) 356,930 330,000 - - 100,000 430,000 729,483 673,725 (603,778) (12,500) 786,930 As at 01.04.22 New designations Utilised/ released in year As at 31.03.23 £ £ £ £ 330,000 100,000 - 430,000 |
|---|---|
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SEFTON PARK PALM HOUSE PRESERVATION TRUST
Notes to the Accounts Year ended 31 March 2024
| 20. Restricted funds As at 01.04.23 Incoming Resources Outgoing Resources Transfers Group and company £ £ £ £ Heritage Lottery Fund - Fanchon Fronlich Grant 12,500 - (12,500) - 12,500 - (12,500) - Comparative information in respect of the preceding period is as follows:- Restricted funds As at 01.04.22 Incoming Resources Outgoing Resources Transfers Group and company £ £ £ £ Heritage Lottery Fund - 74,011 (74,011) - Fanchon Fronlich Grant - - - 12,500 - 74,011 (74,011) 12,500 21. Analysis of net assets between funds Unrestricted Restricted Designated Funds funds funds Group £ £ £ Tangible fixed assets 198,260 - - Net current assets 220,497 - 430,000 Net assets at 31 March 2024 418,757 - 430,000 Company £ £ £ Tangible fixed assets 47,293 - - Net current assets 370,643 - 430,000 Net assets at 31 March 2024 417,936 - 430,000 Comparative information in respect of the preceding period is as follows:- 21. Analysis of net assets between funds Unrestricted Restricted Designated Funds funds funds Group £ £ £ Tangible fixed assets 64,214 - - Net current assets 293,639 12,500 430,000 Net assets at 31 March 2023 357,853 12,500 430,000 Company £ £ £ Tangible fixed assets 64,214 - - Net current assets 292,716 12,500 430,000 Net assets at 31 March 2023 356,930 12,500 430,000 |
As at 31.03.24 £ - |
|---|---|
| - | |
| As at 31.03.23 £ - 12,500 |
|
| 12,500 | |
| Total Funds £ 198,260 650,497 848,757 £ 47,293 800,643 847,936 Total Funds £ 64,214 736,139 800,353 £ 64,214 735,216 799,430 |
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Notes to the Accounts Year ended 31 March 2024
22. Operating lease commitments
At the 31 March 2024 the company has no formal commitment for the lease of the buildings and continues to occupy the premises by mutual consent.
23. Members’ liability
The company is limited by guarantee and has no share capital. Every member of the charity undertakes to contribute to the assets of the charity, in the event of being wound up while he or she is a member or within one year of ceasing to be a member for debts and liabilities of the charity contracted before he or she ceases to be a member, such amount as may be required not exceeding £1.
24. Related party transactions
During the year, L Burman, a trustee of the charity, invoiced £32,460 (2023: £11,000) to the charity for services rendered to improve processes, supporting both the team and Board of Trustees with the transition to a new senior leader.
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