Charfty r8ghtratlon numb•r 1078076 Company rogl¥tratlon numbèr 3828083 (England and Wales) PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION R Keenan P Mooro M J Edwards W Kelty Socretary MS L Murdock Charlty number 1078076 Company numb 3828083 Règl8torod offlc8 Lffe Bank 23 Quom Str1 Llvgrpool L7 2QR Auditor BWM Tgmpesl Suite 5.1 12 Trthob8m Street Liv&rpool L2 2DT Bank•rs HSBC 8ank PLC 99-101 Lord Street Lerr1 L2 6PG Sollcltors Maxwell Hodge 14 Castlè Street Livèrprxtrl L2 OSG
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees. report Staternent of Trustees. responsilItieS 10 IndeperKlenl auditorfs report Consoldlate(I statement of finandal advbtles 14 Consdldated balance sheet 15 Charity balance shegt 16 Con801idated stalernenl of cash lknvs 17 Notes lo the financial statements 18-35
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Th& twsteos present Ihelr rèport and consolldated accounts for the year ended 31 March 2023. The financial statements have baen prep8f8d in accordance with the accounting policies set out in note 1 10 Ihe lln8naal statements and MplY vllh th8 charfly's goveming document, the Companies Act 2006 and 'AccDunting and Reporting by Charities.. Slalement of Recommended Practice applicabb to ch8rlli6s preparing their accounts in accordance wlh the Financial Reportlng Standard applicable In th6 UK 8nd R9publi¢ of Irdand IFRS 102} leffecb've 1 January 20191.. A¢hl•vomnts and pwforman¢• This year 2022-2023 has been Bn extr8m8ly busy period fr)r Parks Options Ltd a8 the narrative Sho 11 is the first tlmè all réstrfctlon$ have beon lifted. Business strategy Parks Options took part In 8 work$hop to revlgw the strategy of th8 group. This Involved looking at what the group CUTrenlly do. if we need to add or engage in other ways, other stakeholders and look at Snvoslmgnl opporiunilies. The Board agreed that investment into tho propartlos nggded to be high on the agenda a8 the facillies of the ChBrity allow the group to dellver thelr servl¢os. A fjnanclal modèl was erèat8d across the group which enabled the team to look at ptsten14al opportunitth. By doirvJ this work the group were able lo look at potential projects that wa could apply for fundln9 aKpII(8llon$ and other ways we could look at engaging. Fundlng The texm submltted some big funding applications to develop and enhan some new projects, unfortunately they were not 8ucc8ssful. One particula¥ pol of funding closed their funding due to the fact they were Inundalad with applications as they have found more and more thSrd se¢tor organisalon8 requlro morts sUPPOrt than ever nce the pandemic. The Social Enlerprls6 Fund applieatlon gol lo the last round of applicants however was unsuccessful. The team wlll continue to sour¢e fundlng. Yw Tre8 Nursèry Yew Tree Nursery is was ck)sgd Sn December 2022 due to Issues th recrultment. Sure Optlon$ Dlrgclor8 made Ihis decislon as they had to review the risk and as thèy were finding it impossible lo employ full tme pTrclilioners and havlng lo use agency $tsff which were mc)re expensNe, and meant consistency lor the children was hard to maint8in, this w88 the be81 and saf8St decision at tha bme. Thè trustees are currenlty Iking to $90 what th8 potential is for rents'ng the space out or sdling it. Llfo Bank housas: Kenslngton Chlldren's Centre Lifè bÈnk Nursery . LDAS Smokg fr08 LSC84iverpool sateguarding Children Btsard Income is generated through room hire, rents and caterlng. Thore Is no avalLAbla space In Lifè Bank to Trnl out as it is now fully occupyèd. The team have been working hard to Ilnk othar oryanisatK)ns to hire the main hall out. this 11 be moro noticaabb in the accounts fu 2023-24. Along vAlh the grant Income from various PToiects we have managed lo generate from solar panels.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Young at hoart £1,000 LCVS Programm• (Délayèd duo to Covld .191 ThoJo ro ram The Joy Progrdmme finalty was up and iunning once all the reslrlclion8 for covid had been lifted. The pandemic left a lol of elderfy people feellng v&ry wary about parbeip8ling in group activities and a bl of them had losl Ihelr confidence. Thls project really 8UPPOrte(J and encourag&d the participants to get back into the communlty and sociallsè agaln. wrth the help of the funding from LCVS through the Communty Impact Fund we were able lo deliver this whith aimed lo tackle loneliness improva w&llbeing and crgatg a senyg of cornmunity. The money vras spent on hall hlre ILrtors and a day bfjp. Activikn'es carfed out wth the fundlng were a y(yJa cla85. Zumba class and an ouliloor day trip. Tho 811$ndo98 ov6rall wh&r& 26% males and 74% fernal88 wllh 52% age baNveen 5544 and 16% w8$ 75plus. 5V/o attendees went on the doy trip. Thè tskeaway 8tlènde8s had were.. 52¥¢ mel new people, 5% learnt a new sklll, 17% fom)èd ftiend$hip$ and 260A fell il benefited them from feeling Isolated after covid. One of the outcornes we were hoping for running this was for participants lo remwn ac*ve. After the 8venl 79Yo sald they would be Interestsd In ffltne8s ¢18s8e$ in tho fubjre. 74% of the att8ndees were socially inactive lo0. saying they wantèd to bè mor9 80cially active after the event. 89QA of the attendees said that they fe Isolated and lonfyly. A lot of thè att6nd6èS Sa Ihgy would like lo see Chair exercise sessKJns. a bcx)k elub, arts and crafty and Zumba which wlll help u8 to sel objecllves for 2023-2024. Camp Terrlg Camp Terrig is an outdoor educational respite centre in North Walas. Th8 maln programme for this was ft>r children lo go on residential plaS., the children and young peop19 8re b8tW99n th8 ages of &20 years. Prospects 2000+ wod( has started up agaln and they are dolng visits wlth older and disabled people whom may have nol beon soaally actlva since thè pandamlc. Walking Moel Famau, the Cat Walk. Dovils Goryg, (night walks) den building. Camp fire songs, 8warenoss. team buildlng Outdoor education currenlty evolving the difference batwaèn dty and rur issues i.e. horse chestnut tr96. the conk8rs- raln fall is effecting th& dtfference and the h8ath of the trees The offects of11ttor.1oamlng what thè ènvlronment Is how people lived in rural arèas in thè past Conservation.. Prospects also do projects with local famibrs tha Deè Vallèy and Ctywdian rdnge area of outstanding natural beauly parf( rangers. Over the ytsars they have built relationships with $chod$, nyrserles as well as Br8dbury Fiolds Is&rvi¢es for bllnd and partially sSghtéd paopla) and Chmstopher Gr8nge who operate residential care for disabled people. A group of okler people attend a reunlon Iwlce a year. As ohildr8n from Lwerpcd they Ilved In Colomendy and they try to meet up and remlnlscé about their childhood. FamElies who have not been able to lake their chIren away on hollday dug 10 gxpense have also made use ofTerrig and donated a wntribution to the runnlng costs. Chrlstmas Day trlp In partnership wlth Pro$pts¢t8 2000+ a day trip w88 organlsed with volunteers to do a trip to Chester market ov&r the fesllve perK)d th Bradbury Fields and Chrfslopher Grange ovor 25 POOKAe attond8d thls trip and had a gr8al day out for all who attended.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Voluntèer$ Parks Options has a voluntser who attends th8 setting and doe8 office duties at the settlng. He is a very produclive part ol the team and due to not belng able lo access work due to his sight loss this has built his )nfidence. Fare sharè Go With the cosl-of41vSng crisis Parks Option3 Ltd appl1 for the food $haro tjnder the cosl-014iv6ng support for organlsations. Fare Share Go providgs charities and communlly group$ wSlh dlrecl access lo surplus food frvrn local supermaets, inclLKling Tesco, ASDA and Waitrose & Partners, and whdesaler Booker. Tha food is goo(1 quallty food Ihat can no longe¥ be sold for a varièty of reasons. such as damaged packaglng or a 8hort-8heV lif¢. Thi8 does not have an impact on the strndÈrd or safety of the food items avAilable. Food available often includes bread. eggs and fresh Iruil. It will always be wllhin ils use by dale and is perfectly good lo eat. Banefils of Fare ShAr6 Go include.. Direct règLJlar acc8ss lo SUrMark&t surplus food emS No cost iMlCt¥)nS lor your Drganis3tion Opw)rtunity to bulld a relaOnShip wlth your local suptsmiarkot. with this in place at our Setting our nursery families can gain a$S to this food which has been supportive especlally wth unempwment on the dse Bnd the lact that our nursery Is sttualed In one of the most deprived arèas in Liverpool. Come together Chrlstmas 2022 Parks options Ltd al Life Bank have become a Hub for the Come Together For Christmas 2022 whereby a group of local people across Lfverpool c(Alect toy donations across the city and distribute them through community ¢gntros. Tho communlty 4xnlro$ then dlstrfbulg thfym onto f2mllFes wlthln the local area. fe Bank Nun8ery has benefited Ihts and all chlldren recgived a parcel whbth w& wera dellghled lo dislrlbul8 on tholr beha. Trndlng ¥ubsldlaM•$ Suro Optlons This year 2022-2023 occupancy al both nurseries $tgadily in¢reasgd ov81 thg ygar. Th9 51rugg18 for the nursgries have been the recruitsnent of Earty Year Practitioners, w8 are not alone in this 98 theTe is a national shortage ol these skilled professionab and the pandemtc added to what was already dtfficjjll positions to reGriJit for. Occupancy is as follows.. Oecupancy ¢/ Bud et 2022.2023 Aprtl 22 Ma 22 Jung 22 Actual Kensington Actual Yewtree 46.2°/. 60.1Yo 76.1° 44.9Q 17.4° 64.8Y. 62.3tyh 70.7% 40.1°/ 85.3Vo 64.3Q/. 76.7% 50.30/. 67.2.1 83.52, 54.6° 33.gtsl 56.7 /. 53.4°/o 54.9è 24.4Y. ov 0% 0% Au usl 22 September 22 Octob@r 22 November 22 December 22 Janua 23 Februa 23 March 23
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Ufe Bank Nuory LKe Bank Nursery has alwa put outdoor education as paramount to the thildn,$ leaming. The outside area has b¢on developad whoroby the children grow fruit and vegetables they wash, prepare the food and ta(e home vAth them on¢e they have prepaid a meal an e.g.. soup. This programmg has encouraged a lot of chSldren lo oat vegetsbles partlcularfy those who would never have lrfed. Overall occup8nw within the y8ar 21_22 54.070A this year 22-23 57.39% Ocwpancy within the nursery has inuaased and In Mar¢h 2023 stood at 76.7° Hlghar n88ds fundlng Lrfe Bank Nursery was able to access high needs funding which is for children whose developmentllearning and or b6haviour needs raquir6 SUPPOrt that is significantly 'addilional to, or 'diiferent from, the drfferentiatsd curriculum and educational provision rnade generally for children or young peop18 of their age in rllainstream schools. With this ftjnding the nursery were able to fund A large mound & tunnel with L4imbing stones and damber ramp options with sensory trail wobble brtdgè stépping logs and irting bars. Life Bank Nursery had the outdoor play equlpmenl 8$allY designed for our younger chSldr8n that onablo dlmbing. balancAng, developlng gross motor skill coordination lo suptM)rt their physieal developm8nt skills. Research has also provan that it is e5S9ntial that young chSldren get frequent and wular oprKirtunkn'88 to explore and leam In the outd(x)r envlrtsnment and this should not be seen as an opuonal gxlra. The Early Years FouThJation Stage IEYFSI Curriculum, which covers chlldren aged blrth to the end of the reception year, became statLrtory in Sapt8mber 2008 and places slroThJ emphasls on tho importance and value of dally outdoor expèr16ne6s for ¢hlldren's learning and developn)ant. In recent years there has bgen a cultural shift In our sociéty that has rèdllc the awss and use of outdoors for many young children. Contributory factors Inude increased fear amongst adults in relation to children's s8fèty and technological advances leading to an overwhelming prominence of more sadeniary Indoor a¢Ovltlos, such as ts18vision. vldeo, and comput&r gamas. Leaming outside tha dassroom supports the development of healthy and actlve IKestylès by offering children opportunltles for physical g¢tivity, freedom, and movement. and promotlng a sense of well-belng. Leamlng utslde the ¢18ssroom glv&s Lildren contact wf(h the natural world and offers them experiences that are unlqu& to OLrtdoors, such as direct contact with the w¢8lh8r and the seasons. Playing and leaming OLtside also helps ehildren lo urKJersland and respect naiure, th8 environment and the interdependence of humans, arbimals, plants. and Ilfecydes. Ouldoor play also supports children's problom401wng skills and nurtures their croativity, as w611 as provldlng rich opportuniÈtes for their developing Imagination, inventiveness, and re80urcefulness. Children nèed an Ixrtdoor 6nMronm&nt that can provlda thom wtth space, both upwards and oufvvards. and pl¥c$8 to explore, experiment, discovgr, bo activ& and he8Y(hy, and lo develop their physical capAbilitig5. The outdoor environment offers space and Ih8r8for8 18 particularty important to ihose chlldren who Igam best through aclNe movement. Very young children leam predominately through th6lr sensory and physlcal exp8rienc8s which supports brain d8v?lopmgnl and Ihe creation ol neural networks. For many chbldren, Plallg outdoors at their èarly ya&rs sètting may be the only opp)rtunty thoy h8vg to play safely and freely whlle they kam lo assess rlsk and develop the skills to manage ngw situations. Lrfe bank nursery hav? also IncDrpor8t8d a growing area Into our outdoor space to support thg chlldren of Konsington to make hèalthy Ilvlng and lif8slyle choices by educaung thom from an earty age and prorTr)le poslfjve hearth 8nd wellbdng. Furthermore, having a growing area in our outdoor spxce enables activities such as digglng and gardening which are extremely beneficial for younger chlldren'$ development of their fine and gross motor skllls howover, it also has therapeutic benafits to support ¢hildren's rnenlal health and wellJeSng. We partleularfy want lo enwurage ourAftersehool Club chlldrÈn to Use this area and maintain it In lang own8r5hip of il and they would Ilk& to grow. All our ¢hildren who access the setllng wlll learn about lrfe cycle ProsseS through planting, digglng, grng. watering. and nurturing tha allotm8nl area. For our younger chlldren padpatIng In gardgning activitses Is B way of expandlng chlldren's vocabulary as we talk about what chlldren ai6 doing whilst digging and planting 88 w8 Introducg ngw word8 into exploratory play.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Yewlree nursery Thtr Dirgclors had to make the de¢lsion to ¢los8 Yewtree Nursery In December19 montrsl. Thls dosure was due lo staff recruilmonl and having lo rely on agency staff which are a lot more cosdy. not consistènt for the chlldren. this was also highlighl$d through an external Inspectlon byhich rellected the eoncwns the ro¢rullm8nl of staff ilhin the earfy years sectors. Jubllg& Sports Bank Jubllee Sports Bank is a c4)mmunity sports facility bcated In Kensington. KfjnsSngton Is Sn the 10°/o most deprfv8d areas IIMD 2019 rankl. Thare Is no other faclllty that offer the sam& or equivalent sarvi¢e within the area and parks Options lett this would bo a great disadvantage tr) the surrounding area rf this would have closed as the surioundlng populafjon have a rang& of hoallh and ¢are n$eds. 80rn8 of these Indude above average rates of obesity. There are a lol of organisaon5 that use the faclllty that have not begn wglcomed other faclllties due to the cllental. Parks Optlons bèlieve that Jubllèt Sports Bank provid&$ a huge social impact for the communlly whom would not ha 8nywh&re 01se to go. This year Jubilee Sports Bank upgraded their equipment, replaced thè flooring and paint9d the cardio room. This refL¢rbishment will hopefully encourage new memberships and keep current members. The equipment was over 20 years okl in tha rdi0 rcN>m thoreforo it was a much nged9d upgrade. As well as upgrading the cardio m8chino$ and189 machin88 8 $tair-ma3tor was addbd- thus 8dding something different to the facility. See pie chart to show this year where we generated income. Iricome streams 2022-2023 SptytsH*I JSB never CeIVed any grant In¢ome wthln this year generated Sports centro. An annual comparison from 2021-2022 to 2022-2023 Dally Passos 22-23 highest month 1331 Novomber 22 L¢)wgSt 141 in December ,21-22 highest month 132} F8bru8ry k)w9$t month161 July and August. Wookly passes last year 2021-2022 in august this year111 in July 2022-2023 no weekly passes sold. Monthly memborshlp Ineomo whilsl in 2021-2022 hlghesl 1441 In February and lowest 19} in December In 2022-2023 highest month1511 January and k)west181 December. Cla$8 pa$80s wlth gym momborshlpj monthty no c48ss8s. No Astro usage wlhin the sports centre we also had again due to coronavlrus and pltch danllp a pèrlod wher8 there was no usage.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT {CONTINUED}(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 student's monthlyldaSly 2021-2022 hlgh&sl month was 1281 Sept6mbar lowest month 131 December in 2022-2023 hvJhesl month1431 Septèmber and lowest month ISI In December. In 2022-2023 Jubi*e Sports Bank was rèfurbished wllh new gym equlpmenl. paintlng and flooring which was supported through a loan fr(>m Parks Option8. Parks Options dono some maintenance in the cantre. Jubllèo Sports Bank continued vAth nolworking with another independent community sports facilitses wlthin Liverpool, fundlng opportunitles we could potentSalty draw do1, Con(fjnue nelworklng were possible with HamonS$e academy, LNarpotsl Foundation, Croatlng and strength8nlng links wth extemal groups such as the Greenbad( OrganIsaOn, roller blrds, boxing organisallon M.M Boxing Action forAutism and Liverpool City coun¢il. The end of 2022 the sports centre startod making good connectlon$ wilh a boxing gym 2nd started rA)Ilabor8lng. Fln•n¢ial review The consolidated Slalemenl of Flnanclal A¢tivi11gs shows a negatlve net movement of funds of £107,47412022.' £7.263). Total funds carried forwkrd w8rs £2,689,94812022'. £2,797,421) as at the Balan¢& Sheet dale. In respect of the charit8b18 parent cornpany alone, total income was £308,543 (2022- £315,374) ft>r the year. After taking Into account expenses of £464,51612022.. £360,210). whleh Indude the intercompany debt forgiven of £76,400 12022.. £nill, therg was a net negative movement on fiJnd$ of £155,973 {2022= negalivb movement £44.8361 for the yeaT. The charity's funds (x>mprised of unrestri¢ted funds of £2,641.08812022.' £2,797,060) as at 31 March 2023. Sure Opts'ons Limited made a pre and post tax profit of £48,49912022". £37.5731 for the year aftgr accounting f the intero)mp8ny dabt forgivgn of £76.40012022.' £nill. Ro$•rve¥ pollcy It is Ihe p0cY of th6 ¢harlly lo malnlain unrestricted funds. whlch are the free rèsérves of the charity, at a 18vèI whereby expendir$ in Ihe wion of 3 months, 8stim8led costs wlll be covered. Based on the a¢counts lo 31 March 2023 Ihls would require approximatew £227,000 of free resetvas, which has bean mat. Risk managemènt The trustees ho a58essed the malor risks to which the charity is exposad, and are sausffied that 8ysleTns are in plac& to manage exposure to the major ¥isk$. Thè Trustegs, at their Board mealings, set out Ihe stmtegl¢ dlrection in which th& charity should operalo. They adopt tho p(Aiugs and agree the Practice to dolivor tt19 slrdlegy. The Chalr ol Parks Options and th6 Ch8ir of Sure Options meet weokly with the Chief Ex8cutive to dscuss all curr8nt Issues. No decisions &r8 18ken al these meetings, decisions are left to the celevant 8oard meetings. The weekly meetings are an opportunity lo discuss issues in d8pth and lo prowde advice and support to the Chlef Ex8Guliv8. Publlc BenelFt The board ol tmste68 are satisfied that Parks Oplons Llmil&d has luffilled its chgrltable objectives for 202212023 and thereby prtsvid$d commensurate public bonefit in compliance with tho provisions of sectlon 4 Charities Act 2011.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Plans & new challenges for 2023-2024 Lffe Bank Nursery camo s&¢ond for the Tas¢0 Communlty Grant volg In your10¢81 Tg8¢0 and has been hosen by Tesco Customers lo receive a grant award of £1,0001 Voling was held al Tesco stores between Mid-January 2023 to 31st March 2023 and proved to be very successful with millions of votes belng casl by Tesco Customers across the UK. This funding w511 support our senw garden. Continuing lo work with f8re share strengthening strongor partnerships to support our famllles. continua to work towards e8$hl¥ss sltg through Gard ma¢hln8. Moro Ino)me for JSB looktng at OAP. Students we need to targot stud8nt r•Sents with lèaflets. New website development for nurseries and sports centre Jubile8 Sports Bank èngaged mor9 wlh loc81 ¢ommunity, sthools, and m$dirAI contrgs, already estsblishgd within youth forum. JSB.. Hall avallablllty offerlng In1os$ busy perlods l.&., 30-mlnute classes which are very popular. extemaj ¢lasses looking at oppor(unilles for funding to upjrade tho Astro pitches lrylng to Ilnk wlth schools women only closseg e5peclally withln the BME Communkty, offer on weekday after sch(M)I drop or Saturday a lol ofwomen may work through th& waek. Source funding for a potential weekend dass i.e.. maybe -8elf4efence cLgss shortgr clrcuits working different body argas. Llnk In with lorAI 'Soclal PrgscrSption$ thIn tha Kensington area Ilnklng wllh kxal Gi)mmunlty support notworks. Mindfulnessfyoga in the wOrk[ar£ could offer Ihg nursery Ichildren centre lo access dass over at JS8 and Comes out of trBining budgets which helps in¢reBse JSB income. Eroaging older generation through OAP-Yoga. tai chi, lighter exercises After 8chod growlng club at lif& bank to anhance our nur89ry Outdoor educatltsn SocAal fftodla - JSB have now a presence tsn social media they currgntty have twitter and Instagram acwunts and have been receiving posltive feedback from their customers. Worklng wllh Derry's Boxlng Gym- as he wants to mak8 the Cgntre h1$ homo Confjnulng the drcult class of a s8rdaY wlth Derry's Fltnass Programmes for half tami for children Worf(iTrg with AFC to try and got the home ground on site.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Structure, govgrn4ne• and managèm8nt The charity is a company Ilmlted by guarantee. Th8 chariVs objects are to promote urban ragen8ration by providlng unemployed peoplo in thè local area opportunltios to learn basic numeracy, communication, lilgracy and information technology ski118',188m how th&lr work ean contribute to the community, acquire job specific ski118 and develop as a worker in terms of interpersonal skills and self organi$alion. Tha charity also provides a 8orvi¢g for local employers, and is continuing the pr<Kess ol implem8nling a high1gV@I business leaders group. The charity will co-opèratè with other agencies concemed with the poor and unemployed will arrango conferences and 58minarE to discuss th6 d6vek)pment Of employment opportunities and provide open acce88 to the chariivs premises for all 8ethon$ ol the ¢ommunhy. organlsing and promoting jeCreS, day school8, xhibitions and talks. The company w88 Incorporated under Ihe Companies Act 1985 (company reglslration number 3828083} and w8$ registerod as a charity on S Novombor 1999. It Is thèrefom governed by its Memorandum and Artides of Assoclation. The Iruslees, who arè also the dlrectors fo¥ the purpose of cornpany Liw, and who served durlng th& year and up lo the dale of sign8ture of the flnancial statements were,. R Keenan P Moore J Edwards W Kelly None of the trust86s has any beneficial interest in the cornpany. All of the Iru8tee8 are meMb8rn of Ihe ¢ompèny and guarantee lo contfjbute,11 requlred, £1 in the 8v8nt of a winding up. No person other than a Trustse retlrfng by rotallon shall bo appolntsd or reoppointed a Trustee at any general moellng unlgss.. They are recomm8nd8d by the Trustses- or thelr appolntmenl is proposed by a rnembar quallfi8d to vol& at tha meeting. The process for appolnllng Trustees is by an inlervl8w wlth the Chlaf Execuuvo, at thSs Intervlew the career and interests of thp individual are discussed. The Chief Executive then prepares a report with a rècommèndation that is discussed al the noxt Board meeting. The Board then decides if they wish to apwinl the appli¢anl to the Board. If they deThde not to apt. the ChSel Executive provides feedback to the applicant on why they were not appolnted. Thts Trusl8es have r6gular rneelings lo agree strategy and endorse decisions regarding the day tr) day aetSvlU6s of the Charity. Kèy m4nay•m*nt p6r8onnol remunarat5on The trustees conskler tho board of trust&as and the senior managoment Sncludlng th8 Chief Exe¢utiv& aro th0 Key manag&ment of th9 charity in charge of directing and ¢ontrolling the charlty and running and operating the thaty on a day to day basis. All Erustees give of their lime freety and no trustae remuneration was paid in the year. Details of trusts8 expenses and related party transactlons are dlsclosed in the acctsunts. Trustees are required lo Illsdoso all relev8nt Interests and reglster them wlth the Chief Executive and In a¢eDrdance wlth Ihe Trust's policy withdraw frorn decisions where a confli¢l of interesl arlses. The pay of th8 charfty's chlef executwe Is reviewed annually and nomially increased In 8m)rd8ncg wlth 8var898 eamlngs. In view of the nalure of the charity, its economy ol operations, and the extensive use of profe8sional advisers to the trust board. Th& r@mun6r8tion Is also bench-marked with grant-making charities of a 3imilar 8vze and 8¢1Svlty to ensure that the remunerallon 88t is fair and not out of Ilnè wllh that gan&rally paid for simllar roles.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUEDI{INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH 2023 Please note staff are not guarantsed pay awards or bonuses in salarles and in cases whereby thls is r8commondad this thon goes to the Chief Executive to aLrthori88 and raquir8S that there ba clear evidence of sustained outstanding pèrfom)ance or evidence to show the staff momb&r has taken on addmonal roles or responsiblljties. Audttor In accordance with the cornpany's arbcles, a r8s01ullon proposing that BWM be reappolnted as audttor of thg mpany will be put Bt a General Meeting. Disclosure of inforniation to #udltor Ea¢h of thg trust99s h8s confirmed that there is no inft)rmation of whlch they are Mwère which is relevant lo the audit. bul of which the audAor is unaware. They have further confimied that they have taken approproale 8leps to Id8ntlfy such relevant information and lo establish that the auditrir is aware of such information. Th8 Tiuslees, report was approved by the Board of Trustees. R Kegnan Twst86 Dated..
PARKS OPTIONS LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2023
The tsustges, who arè also the dlractors of Parks Optlons LlmEtad for the purpose of company law, are responsible
for preparing the Tru51ees' Report gnd the financial statements in accordance th appllcable IBW a1 United
Klngdom Accounling Standards IUnll8d Kingdom GenerallyAccepled Accounllng Practtc&}.
Company Law rèquirès the ÈNstees to ppare fi'nonual statements for each )Inancial year which gwe a true and fair
view of th& *atè of affairs of the chBdty 8nd of thè Incomlng resources and appllcation of reSoUs, includlng the
income and expermlilure, of the tharitable company for that ya¥r.
In preparfng these finandal slalements, the trustees ar8 requlred to-
select sultsble aceounttng polldes and then apply them conslstently,.
obsetve the methods and prinaples in the Charities SORP-,
- mak&]udgaments and astlmates that are reasonable and prudent.,
state whether appli¢abl& UK Account'ng Slandardg havg been followod. SLJblect to any rnatgrSal departu
dlsclosed and explained in the financial statements- and
preparo the financlal statemants on Ihg going concem basis unless il is inappropriate to presumg that the charity
wll continu& in optsration.
The trustees are r08pon$ible for k90ping adgquale a
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARKS OPTIONS LIMITED Oplnlon We heve audlted the financlal stat8ments of Parks Option8 Llmited (the 'charityl and ils sub8idl8ry (the 'group'l for year ènded 31 lrtarch 2023 which comprlse the Consolidated Statement of Financial Activities, the Consolidated and Parent Balanc¢ Shèèts. thtr Consolidated Statement of Cash Flows the statement of financial activities, tho balance sheet, the statgment of e8sh flows and the notes to the financlal stakmenls, including sigficant accounting policies. The financial reporting framework th8t has been appli9d in their praparation is applicable law and United Kingdom Accounliro Standard5, including FRS 102 The Financial Reportsng Standard appllcable in the UK and Ropublic of Ireland (United Kingdom Generally Accepted Accounting Praclicgl. In our oplnlon, Ihe fin8ndal statements.. glve a truè and falr eW of the state of the group's and the charitable companls affairs as al 31 March 2023 and of its Incomi resour¢e$ and opplicatk>n of resources, for the y8ar then 8ndgd,' havè been prop8rty pr0p8red In accordance vAth Unlted Klngdom Generally Accepted Accourfng Practi,. and have boen prepared In accordance with thg requlrements of th6 Companies Act 2006. Bagls for opinlo We conducted our audit in aowrdJne8 wtth Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibillties under thos8 standards are further de3crib8d In th8 Audrforfs ts8ponsib1l8S for the audit ol thè finènth81 statemonts section of our report. We are independent of the group and the charty in acwrd8nc6 th thè ethlcal requiremènts that are relevant to our audit of the financial Btalemenis in the UK, including tho FRC'S Ethical Standard, and wo hav0 fUrI18d our other othical responsibilities in accordance with Ihese requirements. W8 believe that the audit evidence we have obtsined is sufficierht and appropriate to prwd& a basis for our opinion. Con¢lu$l¢n$ r•latlng to golng concorn In audn the Inanclal statements, we have concludgd thal the Trustge8' Use of the going concgm b8sls of awunting in the preparation of the financial statements is appropriate. BaseLI on the work we ha pgrfomed, we havo not identiffied any malerf81 UncertalntS relating to events or conditions that, individually or collectlV81y, may cast significant d(>ubt on the ¢hariWs abiltty to continue as a going concEm for a period of 8t least twelve months from when the finan¢k81 stattsrnents are aulhorlgod for Issua. Our responsibilities alld th• responsibilitios of the twslaes respect to going concern are described In thè relevant secfjons of thls report. Other infomiation Th& othèr infomation comprises the infomialion included in the annual retx)rt other than the finar181 stataments our au¢Jfitor'8 wport thereon. The trustees are responsible for the other information contained within the 8nnu81 r8port. Our opinion on the financial statoments does not cov8r the other infomiation and, except to the exlenl otherwise explicily slated in our report, w8 do not èxprèss any ft)rm ol assurancè conclusion thereon. Our responsibility is lo read the other information and, in doing so, Gonslder whether the other Infomauon Is materially In¢onsi$tent wlth the financlal statemen15 or our knowledge obtained in the course of the audf(, or 0th9Twise 8ppears lo be malèrtalty ml$$t8ted. If we identify such material inconsistencies or apparent malerial misstatements, wo ar$ required to determbne whelhar thls glv&s rlsa to a matèrial mlsslatèmènt In thè Iln8nclal statemenis themselves.11, based on the work we have performed, w8 conclude that thgre is a mal&rial mis¥latemènt of thls olhar Snformation. wa ara rUired to report that fact. We have nothing to report in thls ward. Oplnlons on other matters proscrlbed by tho Companles Act 2006 In our oplnion. based on the work undertaken In the (x)ursg of our audll.. the inforniation givgn In tho Trustees, report for the flnanclal ye8r for whl¢h the flnandal slatements are prepared, which includes the direclor8' report prèpared for the purp08es tsf company law, Is conslst8nt wSth the finandal statgmonts,. and tho dir6etors' rèport Included within the Trustees, feFY)rt has been prepared in accordance wth applicablè18g requlrèmènts.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT {CONTINUED} TO THE MEMBERS OF PARKS OPTIONS LIMITED Mott•rs on whleh wo arè r•qulr6d to report by exceptlon In the Ilght of the knc&vAedge and understanding of the group and the charity and 11$ envlronment obtalned In the our80 of th8 audit. wo h8vg not id8nlffled materfal misstatements in the dlrgctor3' feport includwj wllhSn tho TTuslees' report. We have nothing to report in resFt of Ihe following matters In ralalion lo whl¢h the Companl&s Act 2006 requires us to raport to you if, In tsur oplnion: adequate accounung records have rKsl been kept, or rsturns adequatè ft)r our audlt have not been received from branches not visited by us,- or the financial statements are not in agreement wth thè accounlng e0rdS and returns.. or certain disclo8ur8s ol Ir118tees' remuneration spoeffiad by kw are not made.. or We have not received all the infomation and 8xplanaUons we require for our audit., or the Iruslees w9to not onlluéd to pr6pare th& flnancial staloments in accordance whh the Small companigs regime and take advantagg of Ihg small companl6s' 6xemptions In preparing the Trustees. report and trom the requirementto prepare a strategic Teport. Re¥pon5ibilitie$ of trusteos A8 explained more fully In tha statemenl of Trustees, re8p(Trnsibiliti8s, the trus198s, who arè also th6 dlrectors ol the charity for the puipose of c¢)mpany law, are responsible for the preparation of tho flnanclal slatetllents and for belng satlstled that they givè a trug and tslr vlèw. and for such internal control as the Irusle8s determlne is nec9888ry to enable the preparation of fin8nci81 slatgments that are free from material misstatement, whether due lo fraud or error. In preparing the financial slalemenls. the Iru81ees are responslble for 8ssessing the group's and the charity's ability to continue as a going concern, disclosing, as applicable, matters relalgd to going concgrll and using the going concem basis of accounting unless the trustees either intend lo liquidate Ihe group or Ihe ¢h8ritsbl& ¢ornpBny or lo cease OP8Talion8. or have no re8li5tic altematlve bul to do so. Audltorfs r•sponslbllltles for the audlt ¢>f the financlxl statsm•nts Our objectives are to obtain reasonable a8suranc8 about whether the financlal statements as a Who are free from material misstaternenl. whether due to fraud or error, and to issuo an auditovs rer¥)rt that includes our opinion. Reasonablo assurance is a high level of assurance bul is not a guarantee that an audit Conduct in aecordance wlh ISAS IUKI wlll always detect a material misstalemenl when il èxists. Misststem&n18 con ari80 Irom fraud or error and are constd8r8d material If, individually or in ihe aggregate, they cx)uld rgasonabty be 8xpectsd lo influen¢& thè 6conomSc decisions ol users taken on the basis of these financial statgments. The extant to which our pro¢oduro$ ar8 eapabl8 of detecting Ifr8gulaTlties, induding fraud, 1$ detslled b81ow. Thè èxtènt to whlch the audlt was consldeTed Cable tsf d&t•¢tlng Irrggul•rltlè$, Ineludlng fraud Our approach to identifying and assessing the risks of material misstatement in respect ol irregure& including fmud and non-complTranc& with laws and regulallons, was as folbws.. tho $ngagem&nt partn6r ensured that the engagement team collectsvely had the 8ppfopTiatè comten, apabililios and Skills to Identlfy or recognlse non-compliance wth ap 1cbIe laws and regul8tSon$,' • we identrfted Ihg laws and Tegul8lions appllcable to the company through discussions wlth directors and other management., • we focused Dn speclfic Lqws and regulath)ns which we considered may have a dlreci matsrt81 effect on the rinancial slatsm8nts or the operations of the cornpany, including the Companies Act 2006, lax*ion legislats'on and data protection, anti-brib8ry, omploymenl and health and safely legislation,. we assessed the extent of MplianCe with the laws and regulations idèntified above through making enquiries of managament and inspecling18gal corrgspondon¢a'. and -dgntifigd laws and regulations were communicated within the audit team regularly and thè tO8m remained algrt 10 inst8nCe8 of non-¢omplian¢e throughout the audit. 12-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF PARKS OPTIONS LIMITED We assessed the susceptlbllity of the company's flnancial statements to materlal mlsstatem6nl, In¢ludlng obtslniJvJ an und6rstandlng of how fraud rnight wcur, by.. making trnquiTlos of management as lo where thgy considered there was susceplibilrty to fraud. thelr knowledge of actual. suspected and alleged fraud,. and considering the internal controls In place to mitigate risks of fraud and non-compliancg th laws and regulations. To address the risk of fraud through management bias and override of ¢ontroL8. wfy.. pertomied enalytical proc6durg3 to identify any unusual or unaxp8ciod r8lationship5', tested journ81 ¥nffi88 lo Idenlty unusual IransactlDns', assessed whether judgements and assumptlons madè in determinlng the accounlng esllmales were indicalNe of potenbal bias,. and Investigated the ratIOna b&hind 8ignrflcanl or unusual transacllons. In ro¥pons8 lo the risk of irregularities and non-compli8nce laws and regulatDns. we designed proc6¢Jurgs which included, bul were not limlted lo= agreeing financial statement dlsclosures to underlwng supportlng dClmentall0n' • reading the mlnutes of meefjngs of those charged with govemanee: and enquiring of mana9ement as lo actual and polenlial IIUg8Uon and daims. Ther6 are inherent lirnilations In our audit procedures described above. The more removèd that 18ws and regulatlons are from financial transactions, the less likely it is that W8 would bocomo aware of non-compliance. Auditing standards also limR thè audit procedures required to identify non-(x)mplionce with laws and regulations to gnquiry of the dlre¢tor8 and other management and the insp9dion of rogulatory and18gal correspondence, if any. Mat9rial misstatements that arise due to fraud can be harder to delecl than those that arise from error as they may Invofve deliberate concealment or collusion. A further dèscriptlon of our rèsponsibilits'es is available on thè Finan81 R9pgrting Counol's website at.. htlps'.11 w¥vw.frc.org.uklaudlloY8ra8pon8ibilili8s. This descriplion fomls part of our audTtorfs raport. Use of our report This report Is made sojgly lo the charitable companls members, as a body, In accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charftatl8 company's members those matters we are requlred to $tale to them In an auditorfs report and for no other purp050. To the fullest exlenl permitted by law, wè do not accept or assume respc*nsibllity to anyone other than the charitable company and the ¢h8ritable company's members as a body. for our audlt work, for this report, or forthe opinnS we havo formed. Louise Casey ACA (Senlor Statutory Audltorl lor and on bohalf of BWM 22 DÈcember 2023 Chartered Accountants statutory Auditor Tempest Suite 5.1 12 Tithtrbam Street LIv6rpool L2 2DT 13-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unr•$trictsd RtrIct$d fvnd$ fund$ 2023 2023 Total Unr8stiict8d fvnds 2022 2023 Notes Donations and legaiyes Charitable activities Other trading 8¢Uvlli&$ Invéstment In¢omo Other income 28,690 100.648 801.509 2,072 3,911 28.690 101,648 801,509 2.072 3,911 521 86,416 795,290 12 17.748 1.000 Total income 936,830 1,000 937.830 899,985 Ralslng funds 654,301 654,301 547,037 Chartt8bl8 advlllss 378.576 1.(KJO 379.576 338.149 Od)ar 14 11,427 11,427 22.062 Total oxpondlturo 1.044.304 1.000 1.045.304 907.248 Not •xp•ndltur• lor the yearl Not movom•nt In funds {t07.4741 1107.474) 172631 Fund bal8nce$ at 1 NirS12022 2,797,422 2,797,422 2,804,684 Fund balanc at 31 Mar¢h 2023 2,689.948 2,689,948 2.79T.421 The statement of financial a¢tivitias indudès all gains and losses recognised in lh& y&ar. All Incoma 8nd axponditUTa derlve from continuing activities. The statement of financial actlvllles also cx)mplles wlth the quIrements for an Income and expenditure account under tho Compan5as Act 2006. 14-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONSOLIDATED BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Notes Ftxed assgts Tangible asseis 15 2,208,366 2,191,612 CuThent assets Debtors Cash at bank and In hand 21 59.279 605.587 52,150 818,967 664,866 671,117 Crgdltors: amounts falllng due wtthln on8 y•ar 23 1134,0991 (196,8531 Nel current assets 530.767 674.264 Totsl ass•ts lèss curronl Ilabllltlos 2,739,133 2,865.876 Credltors: amounts falling due after more than one year 25 {49.1851 168,4551 Ngt as¥¢ts 2.689,948 2,797.421 Income funds General unrestricted funds R8ValUati reserve 2,373,921 316,027 2,478,113 319.308 2,689.948 2.797,421 2,689.948 2,797,421 These financial statements have been wepar8d in accordance wh th6 promsions applicable to companies subject tr) the small companies ¥eglrna. The finanaal 8tatements were approved by thè Tnjstaes on ......................... R Keenan Thistee Company Registration No. 3828083 15-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CHARITY BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Notes Flxed assets Tangible assets Inve81mgnts 16 17 2,130,553 2.165,070 2.130.554 2.165,071 Current assets Debtors Cash at bank and In hand 22 94,642 512.885 99,563 659,348 607.527 758,911 C¥edStors: amourt• falling du• wlthln one year 172.8061 193,090) Nel current Jssbtg 534,721 665,821 . Total a$s•ts1088 current liabilities 2,865,275 2,830,892 Credltors: amourt8 falllng dug aftor more than on• yoar 25 124,187) 133.8321 M•t a$sots 2,841.088 2,797,060 The fvnd# of thè eharfty Unrostrlct¢d funds Rev8luatlon reserve 2,325,061 316.027 2,477,752 319,308 2,641,088 2.797,060 2,641,088 2,797,060 The8e finanal slatemtrnts havè baan prapared in accordance with the provisions appllc8blo lo ¢ompgnl6s subject to the small companies r8girne. The accounts were 8pprov8d by the Trusleas on . .. . R Keenan Trusteg Company Reglstratlon No. 3828083 16-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Not•s Cash flows from op•rdtlng avItIeS Cash (absorbed byygenerated from operalk)ns 38 {128,291} 41.822 Investing activities Purch8$9 of tangiblg fix8d asseis Proceeds on dIspoS oftanglble fix&J ssets Inlèrèsl racoived (87,8911 136,955> 752,938 12 2,072 Not cash lusgd Inllgonoratod from Inv•stlng actlvltl•s 165,8191 715,995 Flnanclng actlvltlos Rapaymenl of bank loans 119,2701 {10,245} Not cash us•d In flnanclng activities 119,270) 110.2451 N•t Idocrea8eVlncroa8e In ¢ash and ¢a$h equlvalents {213,380) 747,572 CHsh 8nd equiyabnls * b6ginning of year 818,967 71,395 Cash and ca$h oqulvalonts at end of yoar 605,SB7 818,967 17-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Aeeountlng pollcles Charlty Informa0 Parks Options Llmltod Is a prlvalo company limited by guarantgg Incorporated in England and Wales. Thè registered office is Llfe Bank, 23 Quom Street. LiveTrool, L7 2QR. 1.1 A¢¢ountlng convontlon Th& financial slalernenls have been prep8r8d in accordance with the ch4riWs gov6ming document, the Cornp8nifrs Act 2006 and "Accounting and R6portlng by Charrties.. Ststemenl of Recommended Practice 8pplicab18 to chBrf(les preparing thelr acwunts ae¢ordanco with the Flnanci81 Rgporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 leff8dvè 1 January 20191. The charity 18 8 Publlc Benefit Entity as defined by FRS 102. The finana81 statements are prepared in slerting, whi¢h is the functional currency of tho ¢harity- Monetary amounts in th8se financial statements are rounded lo the nearest £. Tho accounts have been prepared under the historical cost convention, modrfi6d to rnclude the revaluation of freehold prOpertS and certain financial inslrurnents at fair value. The principal accounting polic$ adopted are sel out bolow. Consolldation Tha group financial statemen15 consolidat& thogè of th& charity and ils wholly own8d subsidlary undertakings drawn up to 31 March 2023. The results of the charfty's subsidiaries have been incoTporalgd on a Ilne by Ilne basls. A separate Statement of Fin8n¢ial Acovlties and Income and Expendf(ure Aecounl for the parent charilab company has not been preser)ted bocauso the chartty has taken advantage of thè 8x6mption afforded by sedion 408 of the Companles Act 2006. 1.2 Golng concern At Ihe Ilme of approving the ftnandal statements, tho trusleos have a reasonable expectation that the charity has adequate resources lo ¢onlinua in operational exislence for tho foreseeable future. Thu8 Ihe trusteès conmnue to adopt the going concem ba318 of ac¢ounting in preparing the ffnancl•l stst8m&nts. 1.3 Charftablo funds Unrostrfcted fijnds are avallable for use 81 thg dl$cretion of the tsusle85 in furth6rarhco of their charilab objectfv8s. Restrlcled fijnds ore sublect to specific con4Jillons by donors as to how they may be us9d. Thg purws8s and uses of the rostrktad and unrestricted funds are sgt out In the notès to the accounts. 1A Income Income is rectsJnls&d when the charfiy Is18gally 8n1{ed to it aft any perf0mlar condluons have an mat, the amounts can be m88surod reliably, and it Is probable that income wlll bè recelved. Cash donations are recogni89d recelpt. Other donation8 are re¢ognl$8d once the char5ty has boen nollfied of tho donation, unless performance conditions requlre defer¥al of the amount. Income tax recovfrrable in relation lo donatnS received under Gillm'd or d8ads of covenant is recognisgd at the Um& of the donal'on. Legacies ¥r6 mcognised on receSpl or otherwise If tho Charity has been notified of an irnporxling distributlon. the amount 13 known, and r6ceipt is expected. If thè amount is not known, the legacy 18 treal8(5 88 a (>Jntingent asseL 18-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢ceuntlng pollcle8 Iconilnugdl Turnov$r Is measured at the fair value of thg considération rècèivèd or receivable and feprèsonts amounts receivable fr>r goods and ServIS provided in the normal course of buslness. nat of discounts, VAT and other sales related taxes. 1.5 Expet7dlture Exp8ndilure is r8cognlsed once there kg a legal or conslruetivè obllgation to transfer economlc benefft to a third paty, il is probable that a transfer of economic ben8fils will b8 r8qulred in setuemenl, and the amount of the obligatlon can be measured relSably. Exp@ndllure is dossnled by activmy. The (x)8ts of 98ch actlvtty 8re made up of th8 total of diwt costs and shared costs, including support costs involved in undertaking e8¢h Èctivty. Direct costs attn'but8ble to a single activity are allorat8d directly to that activity. Shared costs which wntribute to more than one activity and support costs which are nol attributable to a single activity are apportioned belw$on those actiVe5 on a ba8lS Consistent with the use of resourcès. C6ntral staff costs are allocated L)n the b85is of time spent. and d8PCl#tIOn charges are allocated on th8 portlon of the Bssets use. Expandllur8 Is Included in the Statgmenl of Flnanci81 Activities on an acuuals basls, InclugiV6 of Bny VAT. which ¢8nnot be recovered. Certain expenditur8 Ss diractly attributable to specffic activities and has included In thos8 cosl ategories. Certain othèr costs, which are attribLrtable lo mor8 than on& activity, are app)rtioned across Cost &qtegori&s on the basi8 of an astimate of the proportiork of Iitll8 spanl by stsff on thos6 acti1$. 1.6 Tangible ftxed ass•ts Tangible fixed assets are initially measured at cost and subsequenuy measured at CO81 or valuallon. nel ol depreciation and any impBirment lo&%es. Depreciation is rgcognised so as to write off the cost or valu8tl()n of assets less their residual values overthelr US6ful lives on the following bases.. Frgghohj bulldings Leaseho bulldlngs FtureS, fithngs & equlpmnl Cornpuler8 1°h reducing balance 112-24 ThnthS straight line 1°k reduring balance 15% reducing balancg 25% $tr8lght Ilnè The gain or loss artslng on the disposal of on asset Is detemilned as the drfference between the le proceeds and the ¢8ng value of the asset, and Is recognlsed in th8 statement of financial activilles. 1.7 Impalrniant of flxed assets At each rewrting end dato, the charY ieviews the carrying aut5 Of its tangible assels lo determine whether there is any indication that those assets have suffered an impaimenl loss. If Bny such indration eSts. th8 recoverable amount of th8 asset is gstimated in order to dgt8miiri8 th8 OXt8nt of thg Impairrnent loss lif any). Cash and ¢ash •qulvalents Cash and cash equivalents include csh in h8nd, deposlts held at call fj1h banks, other short-temi IUld Investments wlth orlglnal maturities of IhTee months or less, and bank overdrafts. 19-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ountlng pollcl8s {Contlnuod} 1.9 Financlal Instruments The charity has 61èetgd to apply the prowylons of Sectlon 11 'Ba8ic Financlal In81rurnents' and Sectlon 12 'Oiher Finandal Instruments Issu6s' tsf FRS 102 to all of its flnancial Inslrumenl$. Financial inslrurnenls ar& recogn180d in the chariivs balance sheet when the charity becom68 party lo the contr8¢tual provisions of the instwment. Financial assets and li8bililies are offset, with the net amounts presented in th8 financial statements, when there is a legalty enforceable right to set off the recognised amounts and thgro 15 an intention to sgttla on nel basis or to realise the asset and Sett the liability simultaneously. B$lc flnanclal &$sts Baslc financial assets, whi(* include debtors and cash and bank balancBs. aro initially measured 8t Ir8nsaclion pricè including transactlon ¢osls and are subsequent carried at 8mortised cost using the effective interbst method unless th6 afr8ngement constitut6s a financing transaction, where the tran58¢tK)n is measured al the pre8ent value of th8 future receipts diseounled at a market Tale of interest. Fin8ncial a&8ets classified gs receivable withln one year are not amortised. Bask Ilnanclalllabllltles Basic financial liabilities, induding creditors and bank loans are initially recwnisgd at tr8n8action price unloss the arrangem6nl constiteS a finanang Iransaclion. whera thg debt instrumént is measured at the pTrsenl value of the future payments diswunted al a market rat& ol interest. Fin8n¢ial Ikgbilities classified a3 payable wilhln ong yoar are not amorb$od. Dobt Instruments are subs8quenUy carriod 8t amorU88d cost, uslng the effectlve int&w$t rats method. Trade creditor5 are obligations to pay lor goods or servicfrs that have been acqulred in the ordinary Course of operations from suppliers. Amounts payable are classffj as current Ilabllftlès rf payment Is du8 within one year or less. If not, they 8r8 prgsenled as non-current liabilthes. Trada creditors are r6cogni88d initbally at trans8Ction price and subsèquently measured at amtsrtis8d cost uslng tho offeclive interest methlxl. Derecognltlon of flnanclalll8bllftles Flnanclal Ilablliti8s are derecognlsed when the charitys ¢onlractual obligallons expire or are dlscharged or cancell8d. 1.10 Employeo ben•fits The c081 of any unused holKlay enlillem6nt Is recognised in Ihtr pÈrfod in which th8 employe8's senrfc8s ar8 rwived. Temilnatlon benefits are recognlsod lrnmedialety as an Èxpense when thè charity is demonstrabty Commltted to tgminale the 6mpk)ymenl of an ernployeo or to provlde temiinatlon ben8fits. 1.11 Rgtlr8m•nt beneflts Payments to doflned contribution r6lr&menl benefit schamgs are tharged as an &xp8nse as they f811 duè. 1.12 Taxation Th8 charity b8nefit5 from varfous 8xomptions from taXal)n afforded by tax legislaion 8nd 18 not liablè to ¢xJrporalion tax on income or gains falling within those exemptions. The charity is not 8bl8 to re(y)ver Value Added Tax. Expenditur6 is recorded in thè accounts indusive of VAT. -20-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcle8 Icontlnuod) 1.13 Gov•mm&nt grants Grants are credlted lo d&fgrred revenue. Grants towards ¢3pital oxpandlture are released to the profil and kiss account over the expeded useful life of the assets. Grant3 towards révenue expendrture are released lo lh$ pwfil and loss account as Ihe related expendllure is incurred. Cdtlcal accountlng e6tlmate8 and Judgements (Group) In the 8ppliration of the charfty's aecountlng policies, the trusiees are required to mako ludgemunts. estimatès and assumptions about the carrying amount c>f •8$gts and liabllthes that are not readlly apparent from other sources. The estimates and associated assumptions are based on historfcal experience and olher factors that ar6 consldered to be reVant. ArAual results may drffer from th88e 081Imales. The eslirnates and und9rlying assumptions are rewewed on an ongoing basi8. Revisions lo awounllng estimaEes are recognised in the perfod in which the eslim8te is rewsed where the rewsion affects onty that perk)d. or in the period of the revision and future periods thè rawsion affects tr)Ih current and future pèrKJds. There wer9 con5idgrgd tr) bo no ultical accounting estimates or judgements appligd in thg pr9p8rÈfjon of these financial ststgmgnts Oonlons and lagaclgs UnreBtrlcted Unreslrfct funds fund$ 2023 2022 Grants recolvable 28,690 521 21
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (cOriNUED} FOR THE YEAR ENDED 31 MARCH 2023 Charltable a¢tlvltlos Rental Incorne and 8•rvl¢a hargo8 2023 Grants f0¢81v6d Totsl 2023 Recharge Rontal Intomo In¢ome and ser¥i¢e Charges 2022 Total 2022 2023 2•t2 Income wllhln chadtablg actiwltles Parfomianca related grants 100,648 1W,648 150 86,266 86,416 1,000 100,648 1,000 101.648 150 86,266 86,416 Anatysis by fund Unrestricted fijnds Restsictgd funds 100,648 100.648 1,000 150 86,266 86.416 1,000 100,648 1,000 101.648 150 86,286 86,416 Oth•r tradlng actlyltleg Unrnstrfrtgd Unr•stslctod funds funds 2023 2022 Sui8 Opth)ns Llmlted 801,509 795,290 Investment in¢om• Unr•strlct•d Unrestricted funds nds 2023 2022 Intsrost r8ce1vable 2.072 12
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 other Income Unrestrlcted Unrestrlctad tunds funds 2023 2022 other income Job Retention Scheme grants 3,911 5,139 12,607 3,911 17.746 Ralsing funds Unrestrlcted Unrestricted fvnds funds 2023 2022 Operating tra(ng company undertaknng nonwcharitable trading activty Staff costs DèprÈ¢lalion 8nd imp8lmianl Support Costs 212.936 416,366 13,732 11,267 171.917 358,831 4,684 11,605 Trading &)sts 854.301 547,037 -23-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltabla actlvltlos Charitable Charltabl• expendhure exp•ndltur• 2023 2022 staff costs Depreciation and impaimient Premises (xists 0ffi¢g St5 Trav6111n9 CO8t8 Programme costs sesslonal workers Sundry costs Bad debts 91,817 25,976 70,969 37.334 1.006 21.853 101,408 25.644 43,515 43,485 13,890 72 2.821 248,955 231.497 Share of Support CO518 Ise8 note 101 Share of govemance Ixjsts (see note 101 122,121 8,500 98,106 8,548 379.576 338,149 An*lysl$ by fund Unrestrl¢ted fund8 Restricted funds 378.576 1,000 338,149 379,576 338,149 -24-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Support ¢osts Support Govèmanc• ¢osts 2023 Support Govemanco costs 2022 Staff ¢x)sts Consultancy, legal fe65 and bank charges Int6rast paid on bank loan 101.806 101,806 92.415 92,415 21,561 21,561 8.352 8.3S2 2,026 2,026 2,434 2,434 Audit fees Accountancy 9,230 7,265 9.230 7,265 8,390 6,666 8.3) 6.666 125,393 16,495 141,888 103,201 15,056 118,257 AnBlysed beeen Trading Charitable activiligs 3.272 122,121 7,995 8,500 11.267 130.621 6,510 8,546 11.605 106.652 98,106 125,393 16,495 141,888 103,201 15.056 118,257 The support 8nd govemance costs are allocated based on time spent. The govemance costs irKlude p¥ym6nts to the auditor whlch are detailed in note 11. 11 Audltofs remuneration The analysis of aLJdilor's remunerabon is as follows". Fe•s payabl& to th& company's audltor. 2023 2022 Audit of th8 c¥)mp8nl$ annual accounts 5.660 5,145 O¢h•r $orylcgs to the group - the audit of the compan18 subsidlarfes 3,570 3,245 Totsl audit fee8 9.230 8,390 Non4udlt servirgs All othw non-audSt SolC&S 7,265 12 Trustees The trustees received no remuneration and no relmbursement of expenses during the year endèd 31 Marth 202312022- £NIII. -25-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Employ$ The average monthty number of employees durfng the year was.. 2023 Numbor 2022 Numbor Adnwn1slratn Reception Nur38ry team Clèanèrs Cargtaker Sports Cgntre team 27 27 Total 37 37 Employmont costs 2023 2022 Wages and s8larlos Sodal securtty costs Other pension costs 563,207 38.387 8.395 511,982 32,951 7,721 609,989 552,654 There were no employees whose annual remuneration was mcffe than £60,000. 14 Other Unr•strlctod Unrestrthd funds furKIs 2023 2022 Nat loss on disposal of tsnglble fixéd ossèts 11.427 22,062
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 IS Tanglbl• flxod a¥$ots - group Frèéhold bulldlDgs Lotsehold bulldlngi Fixtur&•. flttlngs & qulpm•nt Comput•rn Totsl Cost Al 1 April 2022 Additions Disposals 1,028,020 1,155.000 162,344 67,891 165,3051 65,276 2.410.640 67,891 1117,952) {52,647) Al 31 March 2023 1.028.020 1,155.000 164.930 12.629 2,360.579 Doprnclatlon and Impalrnient At 1 April 2022 Depreclalion Charged In the year Eliminated in respect of disposals 38.020 9,900 11.550 11,435 114.943 54,515 15,580 2,794 153,877) 152,fj471 219,028 39,709 1106,5241 At 31 March 2023 47,920 22,985 76.646 4,662 152.213 Carrylng amount At 31 Mar¢h 2023 980,100 1,132,015 88,284 7,967 2,208,366 At 31 March 2022 990,000 1,143,450 47,401 10,761 2.191,612 At 31 March 2023. had the ravdued assets been ¢8rrigd at histt>ri¢ ¢¢Ydl1gS8 accumulale¢J d8pre¢ialion and accumulated Imp8imi&nt losses, their ¢arrying amount would have been approxirnately £807,113 {2022'. £815,265). The freehohl and leaseho land and buildings are stated at market value. Valuation was carried out by SK Real Estate. 2 Cotton St, LNerpool L3 70Y. on 24. 27 and 29 S¢ptembgr 2021 for 3 of the prop9Tti88. Freehold bullding8 wlh a cawng amount of £980,101 12022.. £990,001) have a legal charge to secure sums advanced lo Liverpool Hope Universlty In respect of initlBI bulld costs of the proporty and to ensur& conllnued use ol the property durlng the conditional pgdod gf the grant funding 120 ygarsl on the terrns of the Rgreements dated 23 January 2003. 16 May 2003, 7 December 2004 and 25 July 2006 in the event of Insofv8n¢y. There Is a second legal charge on the same propety by way of a legal mortgage by Liverpool City Council b$ security for the pay7nent of £85.000. Thls charg6 can be dls¢harg&d K the rodempuon d819 Is not IriJg&r8d by 30 years from 27 March 2006.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Tanglbh fixéd assots. charfty Frt•hold bulldlngs L•%•hold bulldlngs Flxlur88, Iiitln#5 & aqulpmfrnt Computern Totsl Co$t or valuatlon At 1 Aprll 2022 Disposals 1,000,001 1,155,000 111,997 36,208 {46.928} 123.5781 2.303.206 170.5061 At 31 March 2023 1,000,001 1.155,000 85.069 12,630 2,232,7(K) Depreclatlon and Impalrmgnt At 1 April 2022 Depredatlon charged in the year Eliminatod In r8sp6cl of disposals 10.000 9.0 11,550 11,435 91,139 25,447 1,848 2,794 138,3881 123,5781 138.136 25.977 161.9661 Al 31 Marc 2023 19,900 22,985 54,599 4,663 102,147 Carrylng amount At 31 March 2023 980,101 1.132.015 10,470 7.967 2,130,553 At 31 March 2022 990,001 1.143,450 20,858 10.781 2,1fj5,070 At 31 Mah 2023, had tho rav8luèd assets been earrled at hSstorfc cost less accurnulated depreclallon and accumulated Impairment Ios8es, thali ¢arrylng amount wtsukl hava bgan approximataty £807,113 12022.. £815.265). The fre8hold 8nd leasèhold land and buildlngs are slated al market value. Valuation was carritrd out by SK Real Estate, 2 Cotton St, Llverpool L3 7DY, on 24. 27 and 29 September 2021 for 3 of the properties. FehOk1 bulldings with a carying amount of £980,101 12022.. £9W,001} have a legal ¢h8rg8 t(> S6cure sums advanced lo Lfvorpotsl Hope University in respect ol inib'al bu) costs of the property and to 8n$ure continued use of the property during the condltlDnal period of the grant funding 120 years) on the lemis of tho agreements dated 23 January 2003, 16 May 2003. 7 December 2004 and 25 July 2006 in the event of insofvency. Thgr9 is 8 second log81 charge on the sarne propetty by way of a *al mortgage by Liverpool City c(>unl as security for the paym8nl of £85.OQO. Thls charge can be dlscharged if the reMptIOn date is not trvJgeTed by 30 years from 27 March 2006. -28-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 17 Flxgd as$•t Invo8tm•nts - Charlty Sub#idiarie5 Cost or valuatlon At 1 April 2022 & 31 March 2023 CArrylng •mourt Al 31 Marth 2023 At 31 ljarch 2022 18 Subsidiaries.. Charity Details of thè chartlys subsidiaries al 31 Marth 2023 are as follows.. Nam• of undertaklng and country of Incorporallon or resldency Natur• ot busln•$$ % Held Direct Pafks Optrons Tradlng LlmSted Sure Options Llmked England ¥nd Dormant Wales England and Promote care, education. heamh Wale8 and d8velopment of children 100.00 1W.00 The aggregate cApital and reserves and the resultforthe year of subskliarles w88 as follow8.. Nam• of und•rtaking ProfiUILossl Capltal and Rr¥¥$ PaS Options Tradlng Llmlt6d Sure Options Llmlted 48,499 48,860 19 Financial instrumonts - group 2023 2022 Carrylng amount of Ilnan¢l•l a¥sets Debt Instrumanls measured al amortSsed cost 615.399 835,394 Carrylng amaunt of fSnanclal Ilabllltl•s Measured al amortised cost 158,207 224.33S -29-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 20 Flnanclal Instrumonts - charlty 2023 2022 Carrying amount of finan¢lal a¥stt8 Debt instruments mèasurèd at Èmorlsèd cost Equlty Instruménts mèasurad at cost18ss impairmant 582,510 743,360 Carrylng amount of flnanclal Ilabllltl•8 Measured al amorti88d ¢08t 93.154 91.563 21 D•btors. group 2023 2022 Amounts falllng du• whhln ono Yr. Trade debtr>rs Other debtors Prepayments and acc¥ued income 9,311 501 49,467 16,426 35,723 59,279 52,150 22 Debtors- charlty 2023 2022 Amounts falling duè wllhin onè yoar. Tradg debtors Amounts due from subsidlary undertakings Prepayments and a¢iyv8d In(x)me 579 69,046 25.017 4.661 76,351 15,551 94,642 96.563 23 Crgdltor8: arnounts falllng du• wlthln ono yw- group 2023 2022 Bank loans Other taxation and soThal securty Deferred InMe Trade creditors other credllo A¢¢riJals 27 21,297 8,955 16.122 66,855 3,899 16,971 21,297 8,210 32.763 114.318 3.006 17.259 30 134,099 196.853
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 24 CrodttoT¥: amounts falllng due wlthln one year- charlty 2022 Note8 Loans and overdrafts Ofher taxation and social security Deferred InMe Trade cr8dltor8 Other credltor8 Accruals 28 10,e48 3.839 10,648 2,596 32,763 35.394 3.070 8.619 31 45,913 3,906 8.500 72,806 93,090 25 Credltors: amoulrts falllng due after mtxe than one year- group 2023 2022 Notes 88nk loans 49,185 68.455 26 CTedltors: arnounts falllng due after morn than on• y0ar- charlty 2023 2022 NotOS Bank loans 24.187 33,832 27 Loans and overdrafts. 9TOUP 2023 2022 Bank bans 70,482 89.752 Payabl& thin onè ye8r Payabl6 after one year 21,297 49,185 21,297 68,455 The group bank rrOW9$ with HSBC of £70,482 12022.. £89,752) are 3ecured by a fixed and floating charge overthe charity's assets. 31
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 28 Loans and ¢vordraft8- ¢harlty 2023 2022 Bank k)ans 34,835 44,480 Payabl& thIn one year Payabl& after one year 10,648 24,187 10,648 33,832 Th8 charity bank Ix)rT¢)wing$ with HSBC of £34,835 {2022: £44.4801 are sec#Jred by a fixed and floating charge over the charit3 a¥88ts. 29 Company Ilmll•d by guarants• Parks optior Limlled is incorporated under the Companiès Act as 8 company Ilmlled by guarantee. The kabilty of the members is £1. 30 Deferred In¢om¢ - group 2023 2022 Arislng from govemment grants Othar d&f•rrod incom& 15.712 410 32,763 16,122 32,763 2023 2022 Current Ilab5111188 16.122 32,763 2023 2022 Totsl d8f8rred Income al 1 Aprll 2022 Arnouwts received in yo8r Amounts crtted lo statement of finBnclal actlvltles 32.763 16,122 (32,7631 27.799 31,763 126,799) Total deferred income at 31 Marth 2023 16,122 32,763 Deferred income relates lo amounts recelved Sn advance of entitlement. -32-
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 31 D•ferred Incom&- charlty 2023 2022 Other deferred income 32,763 21123 2022 Current IlablllU8S 32.763 2023 2022 Total def8Thl income at 1 Aprfl 2022 Amounts rec¢lved In year Amounts credtted to statement offlnanclal athvttles 32.763 I,)0 31,763 132,763) Total deferred income al 31 M8rch 2023 32,763 Dgfèrred Incon relates to amounts received in advance of entitMent. Retlrèment b•nallt $chom•s- group Thè charity operates a defined contribution pension Scheme for all qualifying employees. The 8s$0ts of tho 8¢hem$ are hdd separately from those of the charity in an independenty adminlster8d fund. The charge to the income and expenditure account in respect of defined conthbulion s¢h¢me8 was £8395 {2022- £77211. 33 Analysis of net assets b•tWOon fund$- group Unr#strfeted R•strletad fund$ fund¥ 2023 2023 Total Unreslrtcted funds 2022 2023 Fund balanc8S at 31 March 2023 are represented by.. Tangibjg assots Currant 8ss8tsllllabllltlasl Long term liabllities 2,208,368 530.767 149,185) 2.208.366 530,767 149,1651 2,191,612 674.264 168,4551 2,689,948 2.689.948 2.797,421
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (cOriNUED} FOR THE YEAR ENDED 31 MARCH 2023 34 Anatysls of nèt ass•ts batsH••n funds • eharliy Unrèstricted Rgstri¢tsd funds funds 2023 2023 Totsl Unrestricted nds 2022 2023 Fund balances at 31 March 2023 are represented by.. Tangible 8s$ets Inv8stmants Current assetsJlllabllMesl Long term liabilities 2,130,553 2,130.553 2.165,070 534,721 124,1871 534,721 124,1871 665,821 (33.8321 2.641.088 2.641,088 2,797.060 35 Oporatlng I80 ¢ommltment8- group At thè reporting end date the ¢harity had outstandlng commitments for future rninimum lease payments under non4ancgllable opgrallng leases, whlch fall due as follows- 2023 2(122 Within one year Beiwaen two and 1Sv& years 1,978 7,696 1,264 9.674 1.264 Relatsd party Iransactlons- group Remun*ratlon of key mahagernent personnel Thts romunoration of key m8nag8ment personnel, who arè the Chief Executive Otficer, the Finance Manager arKI Ihe HR Manager, Is as follows. 2023 2022 Aggregate compensation 101,805 104.674 The group has tsken advantsgo of dls¢k)$ure exempuons to whb il is @nlitled regarding transactions betW8gn pargnl and 100% owned subsidiary companies and there are no other disdosablg related party tran8actir)ns.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 37 Analy$ls of changos In not funds At 1 Aprll 2022 ¢Nsh flwFAt 31 IAar¢h 2023 Cash at bank and in hand Loans fdling dug wlhin one year Loans falllng dug 8ft8r mor8 than on8 yaar 818,967 121,2971 168,4551 213.380) 605.587 121,2971 149,1851 19,270 729,215 {194.110) 535.105 38 Cash ggnoratod from DratIon8- group 2023 2022 DefIt for the year IIOT.4741 17,2831 Adjuslmenls ft>r'. Investment income rècognIs In statement of flnandal acuvtttes Lo$s on disposal of tangible fixed assets Dewdalon and impaimient oftanglble fixed &ets {2,0721 11.427 39.708 1121 22,062 30,328 Movements in working ¢8pllal- Ilncreasel In dèbtors IDecroase)Ancreaso In credltors Do¢roaseylncfease in deferred income 17,1291 146,1101 16,6411 {8.8881 631 4.964 Cash (ab8orb•d byVg•n¢r8t•d from op•r8tlons 1128,2911 41,822 -35-