Charty registration number 1078076 Company registration number 3828083 (England and Wales) PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees R Keenan P Moore M J Edwards W Kelly Secretary Ms L Murdixk Charlty number 1078076 Company number 3828083 Reg15tered offlce Life Bank 23 Quom Street Liverpool L7 2QR Audltor Alexander Myerson & Co Limited 61 Rodney Street Liverpool L19ER Bankers HSBC Bank PLC 99-101 Lord Street Liverpool L2 6PG Sollcltors Maxwell Hodge 14 Castle Slreet Liverpool L2 OSG
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONTENTS Page Trustees. report Statement of Trustees, responsibilities 12 Independent auditorfs report 13-15 Consolidated statement of financial activities 16 Consolidated balance sheet 17 Charity balance sheet 18 Consolidated statement of cash flows 19 Notes to the financlal statements 20-37
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report and consolidated accounts for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practsce applicable to charities preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019)" Achlevements and performance Life Bank Nursery Life Bank Nursery understand outdoor education is a vital component of children's leaming. It's a Nursery and Preschool located in the Kensington area of Liverpool and have continued to go from strength to strength providing early years education for children from the age of O- 5 years. Holiday care is open during half terms, providing fvjll day care, and half day care for children aged 5-11 years. The days are planned and structured, to provide 'fun' activities for all children. The nursery has invested in through various funders see below details a specially designed outdoor play equipment tailored for younger children. These resources facilitate activities such as climbing, balancing, and gross rnotor skill coordination, all of which are essential for physical development. Research consistently shows that frequent and regular access to outdoor le8ming is critical for young children and should not be considered optional. The Early Years Foundation stsge (EYFS) Curriculum, which has been statutory since September 2008 for children from birth through the end of the reception year. underscores the importance of daily outdoor experiences for children's leaming and development. Leaming outside the classroom is crucial in fostering healthy. active lifestyles. It offers children opportunities for physical activity, movement, and a sense of well-being. while also providing unique experiences connected to the natural worfd, including exposure to changing weather and seasons. Outdoor play helps children develop an understanding and respect for nature, the environment, and the interconnectedness of humans, animals, plants, and life cyGles. Furthemore, outdoor play enhanGes problem-solving abilities, creativity, and imagination, offering rich opportunities for exploration and innovation. The outdoor environment provides the necessary space for Children, particularly those who thrive through active movement, to develop their physical skills and engage in meaningful discovery. For very young children, sensory and physical experiences are essential for brain development and the creation of neural pathways. For many. outdoor play at eady years settings may represent the only opportunity to play freely and safely, while leaming to assess risk and navigate new situations independently. The nursery received an Otsted in July 23 went from an 'lnadequate' to a 'Good' which was a result to the hard work and dedication of all our staff. Otsted reported that.. - Children leam about their diverse community and the world around them through exciting. well- planned events. For example, children leam about Afrrcan culture and traditions. They Celebrate Africa Day wÈth Ghanaian dancers, acting out the story of 'Handa's Surprise,. During 'Safari month,. children handle snakes, lizards and geckos. They leam about their habitats, which they later recreate. Children are beginning to make sense of the physical world and their own community.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Life Bank Nursery is a diverse and multicultural environment where the majority of our children speak English as an additional language. We acknowledge and embrace the rich cultural backgrounds of our children and families, incorporating various traditions and celebrats-ons into the fabric of our nursery life. In recognition of our commitment to excellence, the Eady Years team at Life Bank Nursery was proudly nominated for and awarded the Certificate of Excellence in June 2024. a well-deserved achievement for our dedicated team. Overall occupancy within the year 23-24 60.70 % this year 57.82% Occupancy within the nursery has increased and in March 2025 stood at 63.67% This year 2024-2025 occupancy al Lifebank nursey as shown below steadily increased over the year hitting 700 occupancies within September and November 2024. There is sts'll a struggle for Lifebank nursery in the area of recruitment of Eariy Year Practitioners. we are not alone in this as there is a national shortage of these sknlled professionals and since the pandemic added to what was already drfficult positions to recrult for. Occupancy is as follows: . Occupancy Yo Budget 2024-2025 Actual April 24 May 24 June 24 56.70'/0 July 24 August 24 September 24 October 24 48.700/0 14.9001. 61.000 November 24 December 24 54.77° January 25 February 25 March 25 63.67 % Clothes donation5, competitive fees and foods services
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 As an add on and to meet demand our nutsery also holds a clothing donations area whereby families can donate and collect clothes that have been donated, we have seen the demand for this over the last few years we have also along with this, maintained lower fees than competstors to support families wth cost of living along with this we hosted a food share and have the fruit van and mobile pantry visit our sites each week with low cost good quality products that families can access. Toothbrush programme Life Bank Nursery is proactNe and works above and beyond in their campaign to improve children's oral health. As a result, staff aCsS specialist tooth brushing training to teach children and their families good oral health routines this has been a huge success and even gained acknowledgement from NHS who have used the nursery as a benchmark for other settings as the programme within the nursery has been the most successful in the city. Additional grant Funding was accessed in 2024-2025 which includes: . Expansion Grant The Nursery received a grant from the Earty Years Expansion Programme to enhanc8 the current setting. This funding is part of the Governments ¢hild¢are expansion plans, it is aimed to provide more places for Children, particularly those of working parents and support the delivery of the 30-hour free childcare entitlement. This grant was used to improve the space for the After School provision, additional shelving and storage to maximlse the use of the existing indoor space, which has helped in uts'lising the area. Pupll premlum The Early Years Pupil Premium (EYPP) is additional funding for early years settings to improve the education that they provide for some three and four-year-old children. The grant provides funding to improve educational outcomes for disadvantaged children. Life Bank Nursery spent this on various resources, additional training to Enhance speech and language development initiatives throughout the year DAF Fundlng The nursery continues to receive Disability Access Fund (DAF) this year. DAF is a govemment initiative designed to support early years providers (like nurseries and childminders) in making adjustments to their settings to accommodate disabled children. It essentially provides additional funding to help providers create more inGlusive environments for children with disabilities who may be eligible for the 15 or 30 hours of free childcare. The DAF is a financial measure provided by the government to earfy years providers to help them support children wth disabilits'es or special educats-onal needs (SEND). It's intended to help providers make "reasonable adjustments" to their settings. either to support an individual child or for the benefit of all children. These adjustment5 could include things like modifying the environment, providing specialized equipment, or training staff to better support children with specific needs.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Hlgher needs fundlng Life Bank Nursery continues to secure High Need5 Funding. designated for children whose development, learning, or behavioural needs require intervenb'ons that are significantly additional to. or different from, the standard curriculum and educational provision typically offered to children of their age in mainstream schools. This funding has allowed the nursery to further enhance the sensory garden, contributing to the holistic development of the children in our care. Jubllee Sports Bank Achlevements JSB continued its efforts to expand its network by connecting with other independent community sports facilities across Liverpool and seeking potential funding opportunities. The centre actively engaged with various local groups, including Derrys Fit Club, Liverpool Family Tae kwon do, Hamionise Academy, Lawrence House School and others, to create and strengthen links. Extemal collaborations wer8 built with organisationsl sporting teams like the Roller Birds, MM Boxng. Action for Autism. various Morris dancing organisations and several sporting teams. We continue to adapt to evolving business needs by transitioning to a cashless system. upgrading from PayPal Zettie as PayPal no longer supports chip and pin functs'onality. The Saturday circuit training class is now suc¢essfiJlly established, attracting a diverse range of participants and delivering posiltve outcomes. This has led to two more evening sessions being added to our timetable We are also strengthening our partnership with Dery's Fit Club and CIC, fosterlng greater engagement with Ihe local Gommunity through Collaborative efforts.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 See pie charts to show this year and previous year where we generated income. Sports Bank Income 2023-2024 Vendings&' Su*el(las5es Swrts PL)11 • Vet11¥ Saes Sports Bank Income 2024-2025 in Fitn sports SLrts Bank- Sale • Frtness 5uitelCFa55eJ SDOrt5 Hbll
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 JSB received some funding this year from the Onwards Housing Programme, UKSPF funding from LCVS and Eleanor Rathbone Charttable Trust. An annual comparison from 2023-2024 to2024-2025 Daily Passes 24-25 highest month April and September (22) lowest month February (7) 23-24 highest month July {29) lowest month December (5) Weekly passes 2024-2025 highest month January (4) lowest month June July October and November with O 2023-2024 highest was {6) in June {6) Monthly membership income 2024-2025 highest month January (62) lowest month December (19).in 2023-2024 highest month {62} in March and lowest month (11) class passes with gym membership. monthly no classes. NoAstro usage within the sports centre we also had again due to coronavirus and pitch damage a period where there was no usage. Student's monthlyldaily 2024-2025 highest Ociober (51) lowest December {81 In 2023-2024highest month (61) in January and lowest months June &December (18) munit emen The number of families requiring help is increasing year on year we host various activities throughout the year for children at our sports centre including Women's only classes. children's afterschool sessions along wilh supportive grants to add additional assistance to our Life Bank Nursery also to assist us and support the families who are struggling l Event Jubilee Sports Bank, in collaboration with Derry Mathews CIC, hosted there annual free Halloween event aimed at engaging ihe local community again this year. This is the second year running and its been a huge success with lots of positive feedback from families. The event, held on Halloween, brought tO9ether over 500 families from across Liverpool, offering a fvn-filled experience open to all, regardless of location. Every child received a goody bag, and the event featured games, prizes, and an interactive pantomime. Recognising that crime rates typically increase during this time of year, our primary goal was to provide a safe, enjoyable environment for children. keeping them off the streets and away from potential trouble. The event was made possible through the generous support of local donors, including Tesco's Community champion, our local Edge Hill branch who supplied us this year with games, Halloween decoration and doughnuts as well sweets for the goodie bags.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Everybody's Christmas Jubilee Sports Bank once again partnered with Dery Mathews CIC to host the "Everybody's Christmas" event, a free celebration for the first 500 families to sign up across Liverpool. The event took place at the Adelphi Hotel in the city centre. where Parks Options provided volunteer assistance from their staff. Our dediGated team also generously donated their time to ensure the event'5 sucSS. Families enjoyed a full day of festive activities, including games. a disco, and a pantomime. Each Child received a meal, a gift, and a selection box, and had the opportunity to meet Father Christmas. Many of our nursery families attended and expressed their appreciation, describing the ev8nt as a wonderful day for the children, filled with joy and excitement. tm We are deeply grateful for the continued SUPFY)rt we received in December 2024 from the local charity organisation, 'Come Together Christmas., Once again, this wonderful project generously donated gifts and pyjamas to the children at our nursery. which serves one of the most disadvantaged areas in Liverpool. Our children and families are profoundly thankful for the knThJness and time given by the volunteers, whose efforts make a meanlngful difference during the holiday season. With the support of the Eleanor Rathbone. we held free classes at sports centre to engage with women in classes with th8 huge success of these classes at the feedback we continue to host an additional Box Fit class this women's only boxing class to build confidence get fit and healthy to engage with others and reduce loneliness. hildren sions Ongoing free kids classes to 8UPPOrt with anti-social behaviour the sports Centre is continuing into 2025 whereby we host free Children's class after school which has seen a positive outcome of children attending these sessions. The Directors made the decision to close Yewtree Nursery in December 2023. The closure was primarily due to challenges in staff recruitment, which led to a reliance on agency staff. While agency staff are more costly. they also lack the consistency necessary for providing a stable environment for the children. These issues were further emphasisèd during an extemal inspection. vthich highlighted broadér concems regarding staff recruitment in the early yéars sector. The sale of this building went ahead in November 2024 to Animal Trust Vets CIC Liverpool.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Plans & new challenges for 2025-2026 Conts'nuing to work with mobile pantry and fare share strengthening stronger partnerships to support our families. Engaging older generation through OAP -chair Yoga, ta chi - lighter exercises New website development for nursery and Jubilee Sports Bank Jubilee Sports Bank engaged more with local community, schools, and medical centres, already established within youth forum, link in with children's centre family hub JS8: .Hall availability offering in less busy periods i.e., 30-minute classes which are very popular. external classes looking at opportunities for funding to upgrade the Astro pitches Linking with schools Source funding for a potential weekend class i.e., maybe -self-defence class shorter circuits working different body areas. Link in with loc81 'Social Prescriptions within the Kensington area linking with local community support networks. Mindfulnesslyoga in the wothplace could offer the nursery Jchildren centre to access class over at JSB and comes out of training budgets which helps increase JSB income. Engaging older generation through OAP-Yoga, ta chi, lighter exercise class After school growing club at life bank to enhance our nursery outdoor education Programmes for half term for children Working with AFC to try and get the home ground on site. continue to work towards cashless site through card machine. More income for jsb looking at OAP. Students V need to target student SidentS with leaflets. Working with Derry's Boxing Gym - estsblish space for Derrys amateur boxing. JSB to have a POS system to support the running of the centre.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 Flnancial Revlew The consolidaled Statement of Financial Activities shows a negative net movement of funds of £5,066 (2024: £124,132). Tolal funds Carried forward were £2,560,750 (2024.. £2,565,816) as at the Balance Sheet date. In respect of the charitable parent company alone, total income was £291.787 {2024.' £265,279) for the year. After taking into account expenses of £290.845 (2024.. £375,053), there was a positive movement on funds of £942 12024.. negakn've £109,774) for the year. The charivs funds comprised of unrestr(cted funds of £2,532,257 (2024." £2,531,314) as at 31 March 2025. Sure Options Limited made a pre- and post-tax loss of £6,007 (2024: loss £14,358) for the year. Reserves poll¢y It is the policy of the charity to maintain unrestricted funds. which are the free reserves of the charity. at a level whereby expenditure in the region of 3 months, estimated costs will be covered. Based on the accounts to 31 March 2025 this would require approximately £229.000 of free reserves, which has been met. Rlsk management The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to manage exposure to the Major risks. The Trustees, at their Board meetings, set ¢)Ut the strategic direction in which the charfty should operate. They adopi the policies and agree the practice to deliver the strategy. The Chair of Parks Optien8 and the Chair of Sure Options meet weekly with the Chief Executive to discuss all current issues. No decisions are taken at these meetings, decisions are left to the relevant 8oard meetings. The weekly meetings are an opportunity to discuss issues in depth and to provide advice and support to Ihe Chief Executive.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- R Keenan P Moore M J Edwards W Kelly None of the trustees has any beneficial interest in the company All of the trustees are members of the company and guarantee to contnbute, if required, £1 in the event of a winding up. No person other than a Trustee retiring by rotation shall be appointed or reappointed a Trustee at any general meeting unless: They are recommended by the Trustees. or their appointment is proposed by a member qualified to vote at the meeting. The process for appointing Trustees is by an interview with the Chief Executive. At this interview the career and interests of the individual are discussed. The Chief Executive then prepares a report with a recommendation that is discussed at the next Board meeting. The Board Ihen decides if they wish to appoint the applicant to the Board. If they decide not to appoint, the Chief Execub've provides feedback to the applicant on why they were not appointed. The Trustees have regular meetings to age strategy and endorse decisions regarding the day-to-day activities of the Charity. Key managernent personnel remuneratlon The trustees consider the board of trustees and the senior management including the Chief Executive are the Key management of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day b8sis. All trustees give of their time freely and no trust8e remuneration was paid in thé year. Details of trustee expenses and related party transactions are disclosed in the accounts. Trustees are required to disclose all relevant interests and register them with the Chi8f Executive and in accordance with the Trust's policy withdraw from decisions where a conflict of interest arises. The pay of the charity's chief executive is reviewed annually and normally increased in accordance wth average earnings. In view of the nature of the charity, its economy of operations, and the extansive use of professional advisers to Ihe trust board. The remuneration is also bench-marked with grant-making Charities of a similar size and activity lo ensure that the remunerats'on set is fair and not out of line with that generally paid for similar rolos. Please note staff are not guaranteed pay awards or bonuses In salanes and in cases whereby this is recommended this then goés to thé ChiÉf Exocutive to authorise 2nd réquires that there be elÉar evidence of sustained outstanding performance or evidence to show the staff member has taken on additional roles or responsibilities. 10
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2025 Audltor In 8ccordgnGe with the companls articles, a rèsolution proposlng thatAexander Myeraon & Co Ltd ba rgappglnted as auditor of the comp8ny w15 be put at a General Meeting. Dlsclosurn of Infornmtlon to auditor Each of the trustee8 has corfirmad that there Is no informgfion of lfr.ey are awarè whlch 18 r8levant to 11)e audlL but of whlch th8 auditor is unawa, They have further confied that they ttave tsken appropriate steps to Idèntify such rel8vant informatlon and to eslabllsh that the audltor is aware of such Infom)ation. The Trustees, report was approvgj ty the Board ofTrustses. R Koenan Trusts8 Dated: Iliol io2S 11
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors of Parks Options Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law 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, including the income and expenditure, of the charitsble company for that year. In preparing these financial statements. the trustees are required to.. select suitable accounting poliues and then apply them consistently- obserye the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent., State whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable st8ps for the pventitsn and detection ol fraud and other irregularities. 12
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PARKS OPTIONS LIMITED Opinion We have audited the financial statements of Parks Options Limited (the 'charity') and its subsidiary (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Balance Sheets. the Consolidated Statement of Cash Flows the statement of financial activities, the balance sheet, Ihe statement of cash flows and the notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Stand8trJ applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the groups and the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practlce" and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance with Intemational Standards on Auditing (UK) IISAS {UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the 8udit ol the financial statements section of our report. We are independent of the group and the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Elhical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial ststements, we have concluded that the Trustees, use of the going concern basis ol accounting in the preparation of the financial ststements is appropriate. Based on Ihe work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concerrt for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees viith respect to going concem are described in tha relévant sections of this report. Other inforniatlon The other infomi8tion comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does rK)t cover the other information and, except to the extent othemise explicitly stated in our report, we do not express any form of assuranre ¢onGlusion thereon. Our responsibility is 10 read the other information and. in doing so. consider wheth9r the othor information ig m2torially inconsistent with thé financial statéments, or our knowlédgè obtsined in thè course of tha audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselv8s. If, ba58d on the work we have performed. we conclude that the is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Optnlons on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of Ouf audit.. the information given in the Trustees, report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements-, and the directors, report included within the Trustees. report has been prepared in accordance with applicable legal requirements. 13
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF PARKS OPTIONS LIMITED Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and underslanding of the group and the charity and its environment obtsined in the course of the audit, we have not identified material misstatements in the directors, r&port included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and tUms. or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilltles of trustees As explained more fully in the statement of Trustees, responsibilities. the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and the charity's ability to conlinue as a going concem. disclosing, as applicable, matters related to going concem and using Ihe going concern basis of accounting unless the trustees either intend to liquidate the group or the charitable company or to cease operations, or have no realistic altemative but to do so. Audltor's responsibllltles for the audlt of the flnanclal statements Our objectives are to obtain reasonable assurance aboul whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK} will always detect a material misststement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The extent to which the audlt was consldered capablo of dotectlng irregularities, Includlng fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance wth laws and regulations. was as follows: the engagement partner ensured that the engagement team collectively had the appropriaté competence. capabilities and skills to identify or recognise non-complignce with applicable laws and regulations., we identified the laws and regulations applicable to the company through discussions with directors and other management., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006. taxation legislation and data protection, anti-bribery, employment and health and safety legislation- • we assessed the extent of compliance wth the laws and regulations identified above through making enquiries of management and inspecting legal correspondence,. and identified laws and regulations were communicated wthin the audit team regularly and the team remained alert to instances of non-compliance throughout the audiL 14
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF PARKS OPTIONS LIMITED We assessed the susceptibility of the CoMpanS financial statements to material misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and nonwcompliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships., tesled joumal entries to identify unusual transactions., assessed whether judgements and assumptions made in detemiining tha accounting estimates were indicative of potential bias., and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance laws and regulations, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to undedying supporting documentation., reading the minutes of meetings of those charged with govemance., and enquiring of management as to actual and potential lits'gation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing slandards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the direclors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.11 ww.frc.org.ukjauditorsresponsibilities. This description fomis part of our auditofs report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken $0 that we might state to the Gharitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility to anyone other than the charitable ompany and the charitable company's members as a body, for our audit work, for this report. or for the opinions wé have fomed. Paul Burns Bsc BFP FCA {Senlor Statutory Auditor) for and on behalf of Alexander Myerson & Co Limitsd // ,/,/,, Chartered Accountants Statutory Audltor 61 Rodney Street Liverpool L1 9ER 15
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlcted funds funds 2025 2025 Total Unr&stricted funds 2024 2025 Notes Income d endowments from: Donations and legacies Charitable activities Other trading activities Investment income Other income 42,373 113,780 702,225 10.794 4.474 42,373 121,482 702,225 10,794 4,474 64,044 115,195 602,464 8,387 6,132 7,702 Total Income 873,646 7.702 881,348 796,222 endlture on: Raising funds 601,886 601.886 569,191 Charitable activities 348,207 7,702 355,909 351,163 Other 14 (71,381) (71,381) Total expendltur• 878.712 7,702 886,414 920,354 Net expendlture for the yearl Net movement In funds (5,066) (5,066} {124,132) Fund balances at 1 April 2024 2,565,816 2,565,816 2,689,948 Fund balances at 31 March 2025 2,560.750 2,560.750 2,565,818 The statement of financial activities includes all gains and losses recognised in th8 year. All income and expenditure derive from continuing activities. The statement of financlal activtties also Gomplies with the requirements for an income and expenditure aGGount under the Companles Act 2006. 16
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONSOLIDATED BALANCE SHEET AS AT31 MARCH 2025 202S 2024 Fed assets TanGible a33¢ts Is 1.785,447 2,179.023 ¢uThent assets D6btor5 Cash at bank and In hend 21 59,OTI 869,437 57,786 465.375 928,514 523,141 ¢rédltors.' amounts falllng du• wfthln one year 23 (145,874> (106,031) Net current 8ssel$ 782,840 417,110 Total less cuTrènt Ilablllt108 2,588.287 2,596,133 Creditors: amounts falling duo aftèr more than onè year (7.537) {30,3171 Not a$8et8 2,560,750 2,5e5.818 Incom¢ fund$ General unrestrScted funds Revaluatlon r8s8Ne 1580,750 2,253.036 312,776 2.580,750 2,585,810 2,560.750 2,585,818 These financial statements have been pr•pared in accordance wilh th8 prov18ions appllcable to companies Subject to the 8mall companles regimo. The financlal ststement8 were approved by the Thth3 on e8nan Trusté• Cornpafty R•glstrdtion No. 382B083 17
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CHARITY BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notss Flxed &880ts Tangible assets Investments 16 17 1.716,588 2,105,917 1.716,589 2,105,918 CuTreirt a860ts Debtor8 Cash at bank and in hand 22 154,088 754,041 132,827 374,133 908.127 608,960 Credltors. amount6 falllng duo withln one year (87,701) (67.265) Net current ?8gets 820,428 438,695 Total assets lo¥s current Ilabllltles 2,582,017 2,546,613 Credttors: amounts lalllng due after more than one year 26 (4.760) (14.299) Not asspts 2,532,257 2,531,314 The funds of the ¢hartty Unwtrlcted funds Rev8luatlon reserve 2,532,257 2.218.S36 312,778 2,532.257 2,531,314 2,532.257 2,531,314 Thew financiat statements have been prepared In accordance with the PTovlsions appllcable to tx)mponi88 subject to the Small compfiniès ragime. The accounts were approvf*J by the TN8tees on R Kèanan Tntstee Company Règbtratlon No. 3828033 18
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng activitles Cash (absorbed by}Igenerated from operations 38 (6.737) <120,530) Investing actlvlties Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Interest received (11.963) (9,200) 440,095 10,794 8.387 Net cash lused in)Igenerated from Investlng activitles 438,926 (813) Flnanclng activities Repayment of bank loans (28,128) (18,869) Net cash used In financlng actlvltles (28,128) (18,869) Net Idecrèaselllncrease In cash and cash equlvalents 404,061 (140,212) Cash and cash equivalents at beginning of year 465,375 605,587 Cash and cash èqulvalents at end of year 869,437 465,375 19
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies Charity informatton Parks Options Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Life Bank, 23 Quom Street. Liverpool. L7 2QR. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102> (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. vthich is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. Consolldatlon The group firiancial statements consolidate those of the charity and its wholly owned subsidiary undertakings drawn up to 31 March 2025. The results of the charity's subsidiaries have been incorporated on a line-by-line basis. A separat8 Ststement of Financial Activib-e$ and Income and Expenditure Account for the parent charitsble company h8s not been presented because the charity has taken advantage of the exemption affofded by section 408 of the Companies Act 2006. 1.2 Going concern At the lime of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going ncern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted fund$ are available for use at the discretion of the tnjstees in furtherance of their charitable objectives. RestriGÉed funds are subject to specific condit'ons by donors as to how they may be used. The purposes and uses of the restricted and unrestricted funds are set out in the notes to the accounts. 1.4 Ineome Income is recognised when the charity is legally entitled to it after any performance conditions hav8 been met. the amounts can be measured reliably, 2nd it is probable that income will be rèceived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as contingent asset. 20
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Contlnued) Tumover is measured at the fair value of the consideration received or rec&ivable and represents amounts receivable for goods and services provided in the nomial course of business, net of discounts, VAT and other sales related taxes. 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contr'tbute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asseys use. Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost ¢ategories on the basis of an estimate of the proportion of time spent by staff on those activits'es. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuats'on, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual v8lues over their useful lives on the following bases: Freehold bulldings Leasehold buildings Fixtures, fittings & equipment Computers 1 Yo reducing balan 112-24 months straight line 1% reducing balance 15°A reducing balance 25% straighl line The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the caryin9 value of the asset and is reco9nised in the statement of financial activities. 1.7 ImpaSrment of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is esb'mated in order to detemine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at 11 with banks. other short-tarm liquid investments with original maturities of three months or less, and bank overdrafts. 21
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Contlnued) 1.9 Flnancial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statem&nts, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Baslc financial assets Basic finanGial assets. lch include debtors and cash and bank balances, are initlally measured at transaction price induding transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financlal liabiliti.es Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangemeni constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently GarTied at amortised cost. using the effective interest rate method. Trade creditors are obligalions to pay for goods or services that have been acquired in the ordinary course of operations from Suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If nol, they are presented as non-current liabilities. Trade creditors a recognisèd initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financial liabilltles Financial liabilities are derecognised when the charitls contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entrtlement is recognised in Ihe period in which the employee's services are received. Termination benefits are rewgnised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide tennination benefits. 1.11 Retirement benefrts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Taxation The charity benefits from various exemptions from taxation afforded by tax legislatson and is not liable to corporation tax on income or gains falling within those exemptions. The charity is not able to recover Value Adde(l Tax. Expenditure is recorded in the accounts inclusive of VAT. 22
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (Continued) 1.13 Government grants Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants lowards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. Critical accounting estimates and Judgements (Group) In the applicats'on of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the Carrying amount of assets and liabilikn'es that are not readily apparent from other sources. The estimates and associated assumpiions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumpts'ons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and fvture periods where the revision affects both current and future periods. There were considered to be no critical accounting estimates or judgements applied in the preparation of these financial statements Donatlons and legacles Unrestricted Unrestrlcted funds funds 2026 2024 Grants receivable 42,373 64,044 23
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Rentsl income and seTVi¢g Charges 2025 Grants recgivad Total 2025 R•ntsl Income and seNice charye5 2024 Grants recelvèd Total 2024 2025 2024 Income within charitable activities Perfomance related grants 113,780 113,780 114.195 114,195 7,702 7,702 1,000 1,000 113.780 7,702 121.482 114,195 1,000 115,195 Analysis by fund Unrestricted funds Restricted funds 113,780 113.780 7,702 114,195 114,195 1,000 7.702 1,000 113.780 7.702 121,482 114,195 1,000 115,195 Other trading activities Unrestrlcted Unrestrlcted funds funds 2025 2024 Sure Options Limited 702,225 602,464 Investment Income Unrestricted UnroStri¢ted funds funds 2025 2024 Interest receivable 10,794 8,387 24
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other Income Unrestricted Unrestrlcte funds funds 2025 2024 Other income 4.474 6,132 4,474 6,132 Ralslng funds Unrestrlcted Unrestricted funds funds 2025 2024 Tradin C05 Operating trading company undertaking non-charitable trading activity Staff costs Depreciation and impaitment Support costs 141,077 429.338 15,059 16,412 154,776 388,896 12,908 12.611 Trading costs 601,886 569,191 25
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitsble actlvlties Charitable Charitable expendlture expendlture 2025 2024 Staff costs Depreciation and impaitment Premises costs Office costs Travelling costs Programme costs $8ssional workers Sundry costs 78,903 21,766 56,058 37,502 510 25,457 258 100,816 25,635 63,791 24,127 783 22,478 281 220.452 237,889 Share of support costs {see note 10) Share of govemance costs (see nole 10) 129,457 6,000 109,274 4,000 355,909 351,163 Analysls by fund Unrestricted funds Restricted funds 348,207 7,702 350,163 1,000 355,909 351,163 26
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Support costs Support Governance costs costs 2025 Support Governance costs costs 2025 Staff costs Consultancy, legal fees and bank charges Interest paid on bank loan 119,771 119.771 106,621 106,621 8,925 8,925 4,260 4,260 761 761 1,543 1,543 Audit fees Accountancy and IT support 14,000 8,412 14,000 8,412 10,000 3,461 10,000 3,461 129,457 22.412 151,869 112,424 13,461 125,885 Analysed beeen Trading Charitable activities 16,412 6,000 16.412 135.457 3,150 109,274 9,461 4,000 12,611 113,274 129,457 129,457 22,412 151.869 112,424 13,461 125,885 The support costs and govemance costs are allocated based on time spent. The govemance costs include payments to the auditor vthich are detailed in note 11. 11 Audltor's remuneration The analysis of audito¢s remuneration is as follows: Fees payable to the company's auditor- 2025 2024 Audit of the company's annual account5 5,120 5,000 Other servlces to the group the audit of the company's subsidiaries 5,120 5,000 Total audlt fe 10,240 10,QOQ on.dudlt services All other non-audit services 2,840 2,600 12 Trustees The trustees received no remuneration and no reimbursement of expenses during the year ended 31 March 2025 <2024 - £Nil). 27
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Employees The average monthly number of employees during the year was". 2025 Number 2024 Number Administration Reception Nursery team Cleaners Caretsker Sports Centre team 21 21 Total 30 31 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 575,389 42,717 9,905 549,208 38,158 8,967 628,011 596,333 There were no employees whose annual remuneration was more than £60.000. 14 Other Unrestrieted Unrestricted funds funds 2025 2024 Net profit on disposal of langible fixed assets 71,381 The net profit after disposal is after taking account of the reversal of the Revaluation fte5er¥e of £312,778 a5 stated in the 2024 accounts. 28
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Tangible fixed assets - group Freehold buildin9$ Leas8hold buildings Fixtures, fittings & equlpment Computers Total Cost At 1 April 2024 Additions Disposals 1,028.020 1.155,000 174,130 10,813 12,629 1,150 2,369,779 11,963 1380,000) (380,000) At 31 March 2025 1,028,020 775,000 184,943 13,779 2,001,742 Depre¢latlon and lrnpalmient Al l April 2024 Depreciation charged in the year Eliminated in respect of disposals 57,721 9,703 34,305 7,520 (11,286) 91,274 16,521 7,456 3,081 190,756 36,825 (11,286> At 31 March 2025 67,424 30,539 107,795 10,537 216.295 Carrylng amount Al 31 March 2025 960,596 744,461 77,148 3,242 1,785,447 At 31 March 2024 970,299 1.120,695 82,856 5,173 2,179,023 At 31 March 2025, had the revalued assets been Caled at historic cost less accumulated depreciation and accumulated impaimient losses, their carying amount would have been approximately £791,051 12024.. £799,041). The freehold and leasehold land and buildings are ststed at market value. Valuation was carried out by SK Real Estale, 2 Colton St, Liverpool L3 7DY, on 24, 27 and 29 September 2021 for 3 of the properties. Freehold buildings with a carrying amount of £960,597(2024.' £970,300) have a legal charge to secure sums advanced to Liverpool Hope University in respect of initial build costs of the property and to ensure continued use of the property during the conditional period of the grant fijnding (20 yèars) on the temis of the agreeménts dated 23 Janu8ry 2003, 16 May 2003. 7 December 2004 and 25 July 2006 in the event of insolvency. There is a second legal charge on the same property by way of a legal mortgage by Liverpool City Council as security for the payment of £85,000. Thi5 charge rAn be discharged if the redemption date is not triggered by 30 years from 27 March 2006. 29
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Tangible fixed assets- Gharlty Freehold buildings Leasehold buildings Fixtures. fittings & equipment Computers Total Cost or valuatlon At 1 April 2024 Additionsl (Disposals) 1,000,001 1,155,000 (380,000) 66.069 12,630 1,149 2,233,700 (378.850) At 31 March 2025 1,000,001 775,000 66,069 13,779 1,854,850 Depreclatlon and Impairment At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 29,701 9,703 34,305 7,519 (11,286) 56,320 1,462 7,457 3,081 127,783 21,766 (11,286) At 31 March 2025 39,404 30.538 57,781 10,536 138,260 Carrylng amount At 31 March 2025 960,597 744,461 8,287 3,243 1,716,588 At 31 March 2024 970,300 1,120,695 9,749 5,173 2,105,917 At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impaimient losses, their carying amount vnuld have been approximately £791,051 (2024., £799,041). The freehold and leasehold land and buildings are staled at market value. Valuation was carried out by SK Real Estate, 2 Cotton St, Liverpool L3 7DY, on 24, 27 and 29 September 2021 for 3 of the properties. Freehold buildings with a carying amount of £960,597 (2024: £970,300) have a legal charge to secure sums advanced to Liverpool Hope Univefslty in respect of initial build costs of the property and to ensure continued use of the propety during the conditional period of the grant funding (20 years) on the terms of the agreements dated 23 January 2003, 16 May 2003, 7 December 2004 and 25 July 2006 in the event of insolvency. There is a second legal charge on the same property by way of a legal mortgage by Liverpool City Council as security for tho payment of £85,000. Thi8 Charge can be discharged if the redemption date is not triggered by 30 year5 from 27 March 2006. 30
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Flxed asset Investments - charity Subsldlarles Cost or valuatlon At 1 April 2024 & 31 March 2025 Carrylng amount At 31 March 2025 At 31 March 2024 18 Subsldlarles: Charity Details of the charity's subsidiaries at 31 March 2025 are as follows: Name of undertaking and country of incorporation or resldency Nature of business OA Held Dlrect Parks Options Trading Limited Sure Options Limited England and Dormant Wales England arKI Promote eare. education, health Wales and development of children 100.00 100.00 The aggregate capital and reseNes and the result for the year of subsidiaries vrds as follows.. Name of undertaking ProflU{Loss) Capital and Reserves Parks Options Trading Limited Sure Options Limited (6,007) 28,495 19 Flnanclal Instruments - group 2025 2024 Carrylng amount of flnancial assets Debt instruments measured at amorbsed cost 878,790 473,358 Carrying amount of financial liabilltles Measured at amortised cost 123,317 128,363 31
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Flnancial instruments - charlty 2025 2024 Carrying amount of flnanclal assets Debt instruments measured at amortised cost Equity instruments measured al cost less impaitment 876,072 473,756 Carrying amount of flnancial liabilities Measured at amortised cost 77.235 76,837 21 Debtors - group 2025 2024 Amounts falllng due wlthin one year: Trade debtors Other debtors Prepayments and acGnJed income 9,359 7,983 49,718 49,783 59,077 57,766 22 Debtors - charlty 2028 2024 Amounts falllng due within one year. Trade debtors Amounts due from subsidiary undertakings Prepayments and accrued inGome 3,394 118,639 32,055 1,630 97.993 33,204 154,088 132,827 23 Craditor3: amounts falllng due wlthln one year- group 2026 2024 Notes Bank loans Other taxation and social secunty Deferred income Trade creditors Other creditors Accruals 27 15,949 11,383 18.512 76,820 8,135 14,875 21,296 9,370 615 61,088 3,579 10,083 30 145,674 106,031 32
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Creditors: amounts falling due within one year- charlty 2025 2024 Notes Loans and overdrafts Other taxation and social security Deferred income Trade creditor5 Other creditors Accruals 28 10,048 4,033 11,194 49,986 4,565 7,875 10,648 4,927 31 44,111 3,579 4,000 87,701 67,265 25 Credltors: amounts falllng due after more than one year- group 2025 2D24 Notes Bank loans 27 7,537 30,317 26 Creditors: amounts falling due after more than one year- charlty 202S 2024 Notes Bank loans 28 4,760 14.299 27 Loans and overdrafts - group 2025 2024 Bank loans 23,486 51,614 Payable within one year Payable after one year 15,949 7.537 21,297 30,317 The group bank borrowings with HSBC of £23,486 (2024: £51,614) are secured by a fixed and floating charge over the charity's assets. 33
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 28 Loans and overdrafts - charity 2025 2024 Bank loans 14,808 24,947 Payable within one year Payable after one year 10,048 4,760 10.648 14,299 The chanty bank borrowings with HSBC of £14,808 (2024: £24,947) are secured by a fixed and floating charge over the charity's assets. 29 Company Ilmlted by guarantee Parks Options Limited is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is £1. 30 Deferred Income - group 2025 2024 Arising from government grants Other deferred income 18,512 615 18,512 615 2025 2024 Current liabilities 18,512 615 2025 2024 Total defeed income at 1 April 2024 Amounts received in year Amounts credited to statement of financial activities 615 67,972 (50,075) 16.122 49,537 (65,044) Total defeed income at 31 March 2025 18,512 615 Deferred income relates to amounts received in advance of entitlement.
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 31 Deferred income- charity 2025 2024 Other deferred income 11,194 2025 2024 Current liabilities 11,194 2025 2024 Total deferred income at 1 April 2024 Amounts received in year Amounts credited to statement of financial activities 54.175 {42,981> Total deferred income at 31 March 2025 11.194 Deferred income relates to amounts received in advance of entitlement. 32 Retlrement beneflt schemes- group The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fijnd. The charge to the income and expendtture account in respect of defined contribution schemes was £9,905 (2024- £8,395). 33 Analysls of net assets between funds - group Unrestrlcted Restrlcted funds funds 2025 2025 Total Unrestricte fvnds 2024 2025 Fund balances at 31 March 2025 are represented by.. Tangible assets Current assetsllliabilities) Long temi liabilities 1.785,447 782.840 17,537) 1,785,447 782,844 {7,537) 2,179,023 417,110 (30,317) 2,560,750 2,560,750 2,565.816 35
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 34 Analysis of net assets between funds - charity Unrestricted Restricted funds funds 2025 2025 Total Unrestricted funds 2024 2025 Fund balances at 31 March 2025 are represented by.. Tangible assets Investments Current assetsl{liabilities) Long term liabilities 1,716,588 1.716.588 2.105,917 820,428 (4.760) 820,428 (4,760) 439,695 (14,2991 2,532,257 2,532,257 2,531,314 35 Operatlng lease commitments - group At the reporting end date Ihe charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2025 2024 Within one year Beeen and five years 1,978 3,740 1,978 5,718 5,718 7,696 36 Related party transactlons - group Remuneration of key management personnel The remuneration of key management personnel, who are the Chief Executive Officer, the Finance Manager and the HR Manager, is as follows. 2025 2024 Aggregate compensation 119.771 106,621 The group has taken advantage of the disdosure exemptions to which it is entitled regarding transactions beeen parent and 100% owned subsidiary companies and there are no other disclosable related party transactions. 36
PARKS OPTIONS LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 37 Analysis of changes In net funds At 1 April 2024 Ca¥h IlovMAt 31 March 2025 Cash at bank and in hand Loans falling due within one year Loans falling due after more than one year 465,375 (21,297) (30,317) 404,062 5,348 22,780 869,437 (15,949) (7.537) 413,762 432,190 845,951 38 Cash generated from operntlons - group 2025 2024 Deficit for the year (5,066) (124.132} Adjustments for.. Investment income recognised in statement of financial activities Profit on disposal of tsngible fixed assets Depreciation and impairment of tangible fixed assets (10,794) (71,3811 36,825 (8,3871 38,543 Movements in working capital: (Increase) in debtors (Decrease)lincrease in creditors (Decrease)lincrease in deferred income (1,311) 27,093 17,897 1,513 (12,560) (15,507) Cash (absorbed by)Igenerated from operations 16,7371 {120,5301 37