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|||||REFERENCE AND ADMINISTRATIVE|REFERENCE AND ADMINISTRATIVE|DETAILS|DETAILS|DETAILS|||
|---|---|---|---|---|---|---|---|---|---|---|
|Company|number|||04040674|||||||
|Charity number||||1085454|||||||
|Registered||office||Red Cross Garden|||||||
|||||50 Redcross Way|||||||
|||||London|||||||
|||||SE11HA|||||||
|Directors/Trustees||||Timothy Wood —Chair|||||||
|||||Karen Atkinson —appointed||24 January 2022|||||
|||||Jessica Beattie|||||||
|||||Pauline
Buchanan
Black —appointed||||24 January 2022|||
|||||Saurabh
Choudhary
—appointed|||24 January 2022||||
|||||Marilyn
Evers|||||||
|||||Alexander
Gasmena —appointed|||22 April 2022||||
|||||Jean McMeakin —appointed||22 April||2022|||
|||||Deborah
Nagan|||||||
|||||Michael Osborne —resigned||1August||2022|||
|||||Michael Barnato —resigned|22 April 2022||||||
|||||Katherine
Sheldon —resigned||22 April 2022|||||
|||||Francois Tarrise —resigned|22 April 2022||||||
|Secretary:||||Michael Osborne —resigned||1August||2022|||
|Key management|||personnel|Charlotte
Gilsenan —CEO|||||||
|||||Sarah Mangan —Operations||Director||—until November||2021|
|||||Nicola Desmond —Head of|Parks||and|Community|—from April 2021||
|Independent||Auditors||Azets Audit Service|||||||
|||||Chartered
Accountants|||||||
|||||2" Floor, Regis House|||||||
|||||45 King William Street|||||||
|||||London|||||||
|||||EC4R 9AN|||||||
|Bankers||||Unity Trust Bank Pic|||||||
|||||Nine Brindleyplace|||||||
|||||4 Oozells Square|||||||
|||||Birmingham|||||||
|||||B12HB|||||||
|||||CafCash
Limited|||||||
|||||PO Box289|||||||
|||||West Mailing|||||||
|||||ME194TA|||||||
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BANKSIDE OPEN SPACES TRUST
IA company limited by guarnnteèl
REPORT OF THE INDEPENDENT AUDITORSTO TrIE MEMBERS OF
BANKSIDE OPEN SPACES TAUST
Audltorfs resp$1blItles for the audlt of the flnanclal statements
Irregularities, including fraud, are instances of non-compliance with law5 and regulations. We design predureS
in line with our responsibilities, outlined above, to detect material misstaternents in respect of irregularities,
includlng fraud. The specific procedures for thi5 engègement and the extent to which these are capable of
detectinE irreÉularitie5, including fraud is detailed below..
Enquiry of management and ihose charged with governance arrAJnd actual and potential litigation and
claims as well as actual. suspetted and alleged fraud.
Reviewing mine$ of meetings of those charged with governance,.
Assessin8 the extent of compliance wth the laws arid regulations considered to have a dirÈtt material
effect on the financial statements orthe operaiitsns of the company through enquiry and inspection,.
Reviewing financial 5tatementdisdosures and testingto supportin8 documentation to asse55 cornpliance
with applicable laws and regulations,.
Performing audit work over the risk ol management kn'35 and override of controls. including testing of
journal entries and other adjustments for 3ppropriatene55. evaluating the business rationale of
Significant transactions outside the normal course of business and reviewing accounting estimates for
indicators ol potential bia5.
8ecause of the inherent limitation5 of an audit, there is a risk thai we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likety to become aware of instances of non-compliance.
The risk is 31$0 greater regarding irregulaniies occurrlng due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or MISrepsenIatlon.
A furthef description of our responsibilitie5 is available on the FlnaDcSal Reporting Counol'5 Webte at..
https.'/lwww.frc.or8.uk/Our-WorklAuditlAudit-and-assurance/Standards-and-guidancelStandards-and-
guid3nce-for-3uditorslAuditorwesponsibilitie5.lor.audiVDescription-of-auditors-responsibilities-for-audii.asp¥.
This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable cornpanls members, as a body, in accordance wilh Chapter 3 of Part
16 of the C(mpanles Aci 2(K)6. Our audit work has been undertaken so that we might state to the charitable
companws members those matters we are reouired to State to them in an auditorf5 report and for no other
purpose. To the fullest extent permitted by law, we do noi accept or a55ume responsibility to anyone other than
the charitable company and the charitable compantys rnembers as a bo*. for our audit work, for this report, or
for the opinions we have formed.
LLt kn__
John Howard1Senlor 5tatLrtory Audllorl
For and on behalf of let$ Audit Serwces
Statutory Auditor, Chartered Accountants
2 Floor, Regis House
45 King William Street
London
EC4R 9AN
Date
22
##
##
||||FO|R TH|E YEAR EN|DED 31MARCH|2022|||
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|||
||||||Notes|Funds|Funds|2022|2021|
|||||||E|E|E|E|
|Income||||||||||
|Donations
and grants||||||55,116|7,287|62,403|168,443|
|Income from charitable||activities||||125,356|341,627|466,983|345,287|
|Activities for generating||funds:||||||||
|Commercial
trading operations||||||199,444||199,444|16,163|
|Rental income||||||433,234||433,234|133,766|
|Investment
income:||||||||||
|Bank interest||||||29||29|52|
|Other income||||||18,452||18,452|112,990|
|Total income||||||831,631|348,914|1,180,545|776,701|
|Expenditure||||||||||
|Commercial
trading operations||||||163,583||163,583|10,847|
|Cost of raising funds|—charity|||||1,223|4,764|5,987|9,145|
|Expenditure
on charitable|||activities|||482,489|339,207|821,696|694,322|
|Total expenditure||||||647,295|343,971|991,266|714,314|
|Net income/(expenditure)|||and net movement|in||||||
|funds for the year||||||184,336|4,943|189,279|62,387|
|Reconciliation offunds:||||||||||
|Total funds, brought|forward|||||141,686|96,957|238,643|176,256|
|Total funds, carried forward||||||326,022|101,900|427,922|238,643|
##
||CONSOUDATED|BALANCE SHEET|BALANCE SHEET|||
|---|---|---|---|---|---|
||AS AT31MARCH 2022|||||
|Company
number 04040674||||||
|||Group|Group|Charity|Charity|
|||2022
f|2021f|2022f|2021
f|
|Fixed assets||||||
|Tangible assets|10|73,547||73,547|77,960|
|Investments|11|||1|1|
|Total Fixed Assets||73,547|77,960|73,548|77,961|
|Current Assets||||||
|Debtors|12|139,437|161,494|138,862|173,696|
|Cash at bank and in hand||570,749|286,692|342,558|274,765|
|Total Current Assets||710,186|448,186|481,420|448,461|
|Uabilities||||||
|Creditors falling due within one year|13|(355,811)|(287,503)|(127,045)|(287,779)|
|Net Current Assets||354,375|160,683|354,375|160,682|
|Net Assets||427,922|238,643|427,923|238,643|
|The Funds ofthe Charity:||||||
|Unrestricted
funds|17/17A|276,022|141,686|276,023|141,686|
|Designated|17/17A|50,000||50,000||
|Restricted funds|17/17A|101,900|96,957|101,900|96,957|
|Total Charity Funds||427,922|238,643|427,923|238,643|
##
##
||||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|2022|2021|2022|2021|
||||||||E|E|E|E|
|Cash used in operating|activities|||||20|387,173|42,725|170,909|67,557|
|Cash flows from investing||activities|||||||||
|Interest income|||||||29|52|29|52|
|Purchase oftangible fixed assets|||||||(3,145)||(3,145)||
|Cash provided
by/(used|in) investing|||activities|||(3,116)|52|(3,116)|52|
|Cash flows from financing||activities|||||||||
|Loan (repaid)/received|||||||(100,000)|100,000|(100,000)|100,000|
||||||||(100,000)|100,000|(100,000)|100,000|
|Increase/(decrease)
in|cash &||cash||||||||
|equivalents
in the year|||||||284,057|142,777|67,793|167,609|
|Cash &cash equivalents|at|the|beginning||ofthe year||286,692|143,915|274,765|107,156|
|Total cash &cash equivalents|||at the|end|ofthe year||570,749|286,692|342,558|274,765|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||Unrestricted
f|Restricted
f|2022
f|2021f|
|---|---|---|---|---|---|
|Grants and services level agreements||76,574|341,627|418,201|281,504|
|Contract income||48,782||48,782|63,783|
|Total income from charitable|activities|125,356|341,627|466,983|345,287|
|Year ended 2021||104,022|241,265|345,287||
##
||||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|
|||||f|f|f|
|Job retention|scheme income||18,452||18,452|112,938|
|Other income||||||52|
|Total income|from charitable|activities|18,452||18,452|112,990|
|Year ended 2021|||112,990||112,990||
##
##
##
|SUMMARY PROFIT AND LOSS ACCOUNT|SUMMARY PROFIT AND LOSS ACCOUNT||2022|2021|
|---|---|---|---|---|
||||E|E|
|Turnover|||199,444|16,163|
|Cost ofsales and administration|costs||(163,583)|(10,847)|
|Service charge payable to the charity|||(35,861)|(5,316)|
|Net profit|||||
|Amount
gift aided to the charity|||||
|Retained
in subsidiary|||||
|The assets and liabilities ofthe|subsidiary|were:|||
|Current assets|||247,439|14,206|
|Current
liabilities|||(247,438)|(14,205)|
|Total net assets|||||
|Aggregate share capital and reserves|||||
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##
##
|||||General|Governance|||
|---|---|---|---|---|---|---|---|
|||||Support|Function|2022|2021|
||||||E|E|E|
|General office staff costs||||66,807||66,807|109,685|
|Other staff costs||||4,969||4,969||
|Premises costs, repairs||and maintenance||60,389||60,389|3,386|
|Communication
costs||||2,615||2,615|1,751|
|Information
technology||||6,669||6,669|5,287|
|Insurance||||1,002||1,002|4,168|
|Legal & professional||||8,175||8,175|6,030|
|Depreciation||||7,558||7,558|7,945|
|Sundry costs||||9,717||9,717|12,803|
|Sessional Workers||||2,397||2,397||
|Sport coaching fees||||1,526||1,526||
|Furniture
&Equipment||||7,008||7,008||
|Contactors fees||||46,426||46,426||
|Bank Charges||||236||236||
|Audit &Accountancy|fees||||20,961|20,961|3,000|
|Strategic development|||||8,761|8,761||
|Other|||||966|966||
|||||225,494|30,688|256,182|154,055|
|NET INCOME/(EXPENDITURE)|||FOR THE YEAR|||2022|2021|
|||||||E|E|
|This is stated after charging:||||||||
|Depreciation
oftangible||fixed|assets|||7,558|7,945|
|Operating
lease payments||||||5,001|2,501|
|Independent
Examination||||||600|3,000|
|Auditors
remuneration||—Audit||||7,400||
|Auditors
remuneration||—Non-Audit||||12,961||
##
##
##
||2022|2021|
|---|---|---|
||E|E|
|Staff costs are as follows:|||
|Wages and salaries —charity|365,510|379,691|
|Social security costs|43,409|26,142|
|Pension costs|12,278|12,515|
||421,197|418,348|
|2022|2021|
|---|---|
|16.5|10.67|
##
##
##
##
|TANGIBLE FIXEDASSETS —GROU|P AND COMPANY|||||
|---|---|---|---|---|---|
|||||Furniture||
||Leasehold|Park fixtures|Plant &|Fittings &||
||Improvements|&fittings|Machinery|Equipment|Total|
||E|E|E|E|E|
|COST||||||
|As at 1April 2021|129,715|8,688|6,295|15,946|160,644|
|Additions
during the year||||3,145|3,145|
|At 31March 2022|129,715|8,688|6,295|19,091|163,789|
|DEPRECIATION||||||
|As at 1April 2021|54,049|8,688|6,295|13,652|82,684|
|Charge for the year|5,405|||2,153|7,558|
|As at 31March 2022|59,454|8,688|6,295|15,805|90,242|
|NET BOOK VALUES||||||
|At 31March 2022|70,261|||3,286|73,547|
|At 31March 2021|75,666|||2,294|77,960|
|FIXEDASSET INVESTMENTS —GROUP AND CHARITY||Group||Charity||
|||2022|2021|2022|2021|
||||E|E|E|
|Investment
at cost||||||
##
##
||||||||
|---|---|---|---|---|---|---|
|DEBTORS-GROUP AND CHARITY|||Group||Charity||
|||2022||2021|2022|2021|
|||E||E|E|E|
|Trade debtors||68,124||137,093|64,614|134,813|
|Prepayments||9,236||5,658|9,236|5,659|
|Accrued income||46,674||19,073|46,674|19,073|
|Bankside Open Spaces Trading|Limited||||18,668|14,481|
|Other debtors||15,403||(330)|(330)|(330)|
|||139,437||161,494|138,862|173,696|
##
##
##
|||Group||Charity||
|---|---|---|---|---|---|
||Total||Total|Total|Total|
||2022||2021|2022|2021|
||f||f|f|f|
|Trade creditors|90,849||29,953|31,819|31,989|
|Taxation and social security|||7,877||7,117|
|Other creditors|57||4,688|57|4,688|
|Accruals|89,164||68,215|86,969|67,215|
|Deferred income (note 14)|175,741||76,770|8,200|76,770|
|Bankloan|||100,000||100,000|
||355,811||287,503|127,045|287,779|
##
|||||||GROUP|CHARITY|GROUP AND|
|---|---|---|---|---|---|---|---|---|
|||||||2022|2022|CHARITY|
|||||||||2021|
|||||||f|f||
|Balance|brought|forward||||76,770|76,770|27,194|
|Amount|released|to income||in the year||(76,770)|(76,770)|(27,194)|
|Amount|deferred|in the|year|||175,741|8,200|76,770|
|Balance|carried forward|||||175,741|8,200|76,770|
|Deferred|income|relates|to income received||in advance for a project|work to be done|in 2022/2023.||
|OPERATI|NG
LEASE COMMITMENTS —GROUP AND CHARITY||||||||
|The charity has operating|||lease commitments||relating to its property|rental as shown|below:||
||||||||2022|2021|
||||||||f|f|
|Within one year|||||||5,000|5,000|
|Two to five years|||||||20,000|20,000|
|Over 5 years|||||||40,417|45,417|
||||||||65,417|70,417|
##
##
##
##
##
##
##
|MOVEMENT|IN FUNDS-|GROUP- PRIOR Y|EAR|||||
|---|---|---|---|---|---|---|---|
||||Balance as||||Balance as|
||||at 01.04.20|Income|Expenditure|Transfer|at 31.03.21|
|RESTRICTED|FUNDS:||E|E|E||E|
|Community|involvement|and volunteering|1,825|48,358|(40,346)||9,837|
|Community|gardening||2,738|69,695|(60,412)||12,021|
|Sports activities|||618|31,819|(21,165)||11,272|
|Events||||7,430|(7,430)|||
|Transforming|open spaces|||83,963|(83,164)||799|
|Other||||21,777|(21,777)|||
|Capital assets|||67,230||(4,202)||63,028|
||||72,411|263,042|(238,496)||96,957|
|GENERAL FUNDS:|||103,845|513,659|(475,818)||141,686|
|Total funds|||176,256|776,701|(714,314)||238,643|
##
##
|||||GROUP|GROUP||
|---|---|---|---|---|---|---|
||||Unrestricted|Designated|Restricted|Total|
||||E||E|E|
|Tangible fixed assets|||14,721||58,826|73,547|
|Investments|||||||
|Net current assets|||261,301|50,000|43,074|354,375|
||||276,022|50,000|101,900|427,922|
|||||CHARITY|||
||||Unrestricted|Designated|Restricted|Total|
||||E|E|E|E|
|Tangible fixed assets|||14,721||58,826|73,547|
|Investments|||1|||1|
|Net current assets|||261,301|50,000|43,074|354,375|
||||276,023|50,000|101,900|427,923|
|ANALYSIS OF GROUP|ASSETS BETWEEN|FUNDS —previous|year||||
|||GROUP|||CHARITY||
||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||E|E|E|E||E|
|Tangible fixed assets|14,932|63,028|77,960|14,932|63,028|77,960|
|Investments||||1||1|
|Net current assets|126,754|33,929|160,683|126,753|33,929|160,682|
||141,686|96,957|238,643|141,686|96,957|238,643|
##
##
##
##
##
|||||||GROUP||CHARITY||
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022|2021|
|||||||E|E|E|E|
|Net movement
in funds||||||189,279|62,387|189,280|62,387|
|Add back depreciation||||||7,558|7,945|7,558|7,945|
|Deduct interest income||shown|in investment||activities|(29)|(52)|(29)|(52)|
|Decrease /(increase)|in|debtors||||22,057|(93,135)|34,834|(68,672)|
|Increase /(decrease)|in|creditors||||168,308|65,580|(60,734)|65,949|
|Net cash generated/used||in operating||activities||387,173|42,725|170,909|67,557|