2023-03-31-accounts - Wincobank Wood Recreation Ground

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WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

REGISTERED CHARITY NUMBER 1068466

WINCOBANK WOOD RECREATION GROUND CONTENTS

	Page
Reference and administrative details	1
Trustees’ report	2 - 6
Independent examiner’s report	7
Statement of financial activities	8 - 9
Balance sheet	10
Accounting Policies	11 - 14
Notes to the financial statements	15 - 17

WINCOBANK WOOD RECREATION GROUND REFERENCE AND ADMINISTRATIVE DETAILS

CHARITY NO: 1068466

TRUSTEES

Sheffield City Council is the sole trustee of the charity, acting through the Cabinet of the Council

Charity Sub-Committee Members:

Cllr Ian Auckland (Chair) Cllr Zahira Naz (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Richard Williams Cllr Fran Belbin

PRINCIPAL ADDRESS Sheffield City Council Parks and Countryside Centre in the Park Guildford Avenue Sheffield S2 2PL

INDEPENDENT EXAMINER

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

WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2023. The financial statements comply with the charity’s trust deed, applicable law 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 charity comprises of land situated at Wincobank Woods and Recreation ground off Jenkins Road Sheffield. Its governing documents are an indenture dated 10 August 1904 and a scheme dated 24 October 2001.

The objects of the charity are the provision and maintenance of public parks and a recreation ground in Sheffield for the use of members of the public with the object of improving their conditions of life.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Wincobank Wood 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 are not decisions of the Council as Trustee, and are made by the Executive Director of Neighbourhood Services, the Director of Parks, Leisure and Libraries, or the Head of Parks and Countryside service in accordance with the Arrangements for the Delegation of Functions To Officers, under part 3 of the Council’s constitution.

PUBLIC BENEFIT

The Trustees have complied with the duty in Section 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.

WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

ACTIVITIES AND ACHIEVEMENTS

Work has continued to manage the trees, woodland and open habitats on the site with an on-going programme of selective thinning of woodland, access control, Japanese knotweed control, footpath improvements, habitat enhancement and scrub management on the ancient hillfort monument.

Additional litter/fly-tip removal and maintenance has been carried out on the site throughout the year. Damaged or dilapidated seating has been replaced or repaired. We have Installed drop bollards to the lower end of the site to help reduce fly-tipping

Various community events have been supported, and links made with the Friends of Wincobank Hill group.

Work has began on a capital scheme funded by the DLUHC Levelling up Fund to make improvements to the open space.

EVENTS

The Friends of Wincobank Hill group ran volunteer days spent clearing the search light area around the hillfort, as well as cutting back saplings.

WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

PLANS FOR FUTURE PERIODS

Parks and Countryside will continue to support the Friends Group which has a new Committee focussing on maintaining and improving the park and undertaking basic work tasks within the park. This includes to review and monitor anti-social behaviour and flytipping on the site.

There is also the continuation of the capital project which began in 2022 with the aim to improve the park and the health and wellbeing benefits it provides for the locality. This includes the installation of improved playground facilities.

The project also includes tree management works including: opening up obstructed paths and entrance points onto Wincobank Hill, involving some thinning and respacing of dense young plantations. Also 5 trees are to be planted as part of improving the access route into Wincobank Hill woodland. Further tree planting and tree management as part of entrance area improvements for other residential community access points into Wincobank Hill wood. We aim to improve gateway entrances into the woodland from these communities.

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net income of £95,923 (21/22: Net income of £0). This is due to the recognition this year of the £86,000 value of Wincobank Wood land. Additional Restricted income this year is £9,923 from the DLUHC for the Levelling Up project work.

Unrestricted Funds - Net income of £2,672 (21/22: £114). This income is from investments. Expenditure on charitable activities of £14,337 (21/22: £8,763) which is funded by the revenue grant from Sheffield City Council of £14,337 (21/22: £8,763).

At 31 March 2023 the charity had total funds of £216,341 (21/22: £117,746). These funds are all tied up in fixed assets.

WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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.

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.

WINCOBANK WOOD RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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:

Signed

Date 25/01/2024

Cllr Ian Auckland – Chair of the Charity Trustee Sub Committee .

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF WINCOBANK WOOD RECREATION GROUND

I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2023.

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

Dated: 25/01/2024

WINCOBANK WOOD RECREATION GROUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 10 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2022/23 £ 14,337 - 2,672 17,009 - 14,337 14,337 2,672 17,746 20,418	Restricted 2022/23 £ 95,923 - 95,923 - - - 95,923 - 95,923	Endowment 2022/23 £ - - - - - - - 100,000 100,000	Total 2022/23 £ 110,260 - 2,672 112,932 - 14,337 14,337 98,595 117,746 216,341	Total 2021/22 £ 8,763 - 114 8,877 - 8,763 8,763 114 117,632 117,746

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

Of the £95,923 Restricted Donations: £86,000 is the recogition of the Wincobank Wood land, valued in 2017 by SCC Property Services. £9,923 is an addition to this value in 22/23 due to a Capital scheme comprising of playground and park improvements.

WINCOBANK WOOD RECREATION GROUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 9 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2021/22 £ 8,763 - 114 8,877 - 8,763 8,763 114 17,632 17,746	Restricted 2021/22 £ - - - - - - - - -	Endowment 2021/22 £ - - - - - - - 100,000 100,000	Total 2021/22 £ 8,763 - 114 8,877 - 8,763 8,763 114 117,632 117,746	Total 2020/21 £ 7,605 - - 7,605 - 7,605 7,605 - 117,632 117,632

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

WINCOBANK WOOD RECREATION GROUND BALANCE SHEET AS AT 31 MARCH 2023

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 funds - Designated funds 15 Restricted income funds 14 Endowment funds 13 Approved by the Trustees and signed on their behalf by: Signed	Unrestricted 2022/23 £ 20,418 20,418 633 (633) - 20,418 20,418 - - 20,418	Restricted 2022/23 £ 95,923 - 95,923 - - - 95,923 - 95,923 - 95,923 Date	Endowment 2022/23 £ 100,000 100,000 - - - 100,000 - - 100,000 100,000 25/01/2024	Total 2022/23 £ 95,923 120,418 216,341 633 (633) - 216,341 20,418 95,923 100,000 216,341	Total 2021/22 £ 117,746 117,746 630 (630) - 117,746 17,746 - 100,000 117,746

Cllr Ian Auckland - Chair of the Charity Trustee Sub-Committee

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

1. Accounting Polices

Wincobank Wood Recreation Ground 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 the provision of facilities for recreation and to advance the education by the maintenance of a museum and art gallery.

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

Wincobank Wood Recreation Ground is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.

All Land and Buildings are carried at deemed cost, as at transition to SORP (FRS 102).

These costs have been identified and capitalised in recent years but for earlier years, where no records are available, the original cost is treated as £nil.

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.

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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. The buildings are not depreciated because the buildings are maintained in good condition so that their value is not impaired by the passage of time and in consequence any element of depreciation would be immaterial. 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 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.

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.

1.4 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.

1.5 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.

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

Cost of raising funds

The cost of generating any external funding, such as grant applications and events or wedding bookings, 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.

1.6 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.

1.7 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.

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

1.8 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.

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

2. Donations and legacies	2022/23	2021/22
	£	£
Unrestricted revenue grants:
Sheffield City Council	14,337	8,763
Restricted Capital grants: Recognition of Wincobank Wood Land DLUHC: Levelling Up Fund	14,337 86,000 9,923	8,763
	95,923	-
	110,260	8,763
3. Income from charitable activities Unrestricted: Fees and charges If expenditure is greater than income the variance is borne by Sheffield City Council and	2022/23 2021/22 £ £ not brought forward into the next financial year.
4. Analysis of expenditure on raising funds Restricted: Events	2022/23 £ -	2021/22 £ -
5. Analysis of expenditure on charitable activities Unrestricted: Employees Ranger service Tree work Governance costs	2022/23 £ 2,718 6,389 3,750 1,480	2021/22 £ 2,511 3,756 1,062 1,434
6. Governance costs Independent examination fees Finance office costs	14,337 2022/23 £ 633 847	8,763 2021/22 £ 630 804
	1,480	1,434
7. Staff costs and trustees' remuneration Salaries Social security costs Pension	2022/23 Total £ 2,140 171 407	2021/22 Total £ 1,977 158 376
	2,718	2,511
No employee received remuneration of over £60,000 during the year (21/22 - None). Trustees received no remuneration (21/22 - £Nil) and were not reimbursed for any of their expenses during the year. 8. Staff numbers 2022/23 Number The average number of employees during the year was 1		2021/22 Number 1

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

9. Fixed assets

9. Fixed assets At cost At 1 April 2022 Additions Transfers At 31 March 2023 Accumulated depreciation At 1 April 2022 Charge in the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	Assets under Land & Construction buildings Total £ £ - 86,000 86,000 9,923 9,923 (9,923) 9,923 - - 95,923 95,923 - - - - - - - - - - 95,923 95,923 - - -

Fixed Assets haven't previously been disclosed in the accounts. However given the Wincobank Lane / Wood capital improvement scheme in 22/23, we have included for the 22/23 accounts.

The land is included this year at deemed cost as permitted on transition to SORP (FRS102) based on a valuation in 2017 by SCC Property Services

10. Investments At market value Balance at 1 April 2022 Interest received Balance at 31 March 2023	2022/23 £ 117,746 2,672 120,418

The charity funds are invested in Sheffield City Council's Consolidated Loan Funds. Interest can be used for unrestricted purposes.

11. Debtors Amounts due from Sheffield City Council 12. Creditors: amounts falling due within one year Independent examination fees 13. Endowment funds Balance at 1 April 2022 and 31 March 2023	2022/23 £ 633 2022/23 £ 633	2021/22 £ 630 2021/22 £ 630 £ 100,000

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on

14. Restricted funds Balance at 1 April 2022 Income Expenditure Transfer Balance at 31 March 2023 Restricted funds - prior year Balance at 1 April 2021 Income Expenditure Transfer Balance at 31 March 2022	Wincobank Wood Total £ £ 86,000 86,000 9,923 9,923 - - - - 95,923 95,923 Wincobank Wood Total £ £ - - - - - - - - - -

WINCOBANK WOOD RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

15. Unrestricted funds Balance at 1 April 2022 Income Expenditure Transfer Balance at 31 March 2023	General Funds Designated Funds Total £ £ £ - 17,746 17,746 17,009 - 17,009 (14,337) - (14,337) (2,672) 2,672 - - 20,418 20,418

Designated funds represent accumulated interest on the endowment funds. This money has been set aside for specific costs as

Unrestricted funds - prior year
Balance at 1 April 2021
Income
Expenditure
Transfer
Balance at 31 March 2022
16. Analysis of net assets between funds
Fixed asset investments
Current assets
Creditors due within one year

General
Funds
Designated
Funds
Total
£
£
£
-
17,632
17,632
8,877
-
8,877
(8,763)
-
(8,763)
(114)
114
-
0
17,746
17,746
Unrestricted
funds
Restricted
funds
Endowment
Total funds
£
£
£
£
20,418
95,923
100,000
216,341
633
-
-
633
(633)
-
-
(633)
20,418
95,923
100,000
216,341

Analysis of net assets between funds - prior year Fixed asset investments Current assets Creditors due within one year	Unrestricted funds Restricted funds Endowment Total funds £ £ £ £ 17,746 - 100,000 117,746 630 - - 630 (630) - - (630) 17,746 - 100,000 117,746

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 was £24,260 (21/22: £8,763). At the year-end £633 was owed by Sheffield City Council (21/22: £630).