EARL MARSHAL RECREATION GROUND TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
REGISTERED CHARITY NUMBER 1088787
EARL MARSHAL RECREATION GROUND CONTENTS
| Page | |
|---|---|
| Reference and administrative details | 1 |
| Trustees’ report | 2 - 5 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 - 8 |
| Balance sheet | 9 |
| Accounting Policies | 10 - 13 |
| Notes to the financial statements | 14 - 17 |
EARL MARSHAL RECREATION GROUND REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY NO: 1088787
TRUSTEES
Sheffield City Council is the sole trustee of the charity, acting through the Cabinet of the Council
Charity Sub-Committee Members:
Cllr Richard Williams (Chair) Cllr Fran Belbin (Deputy Chair) Cllr Christine Gilligan Kubo (Spokesperson) Cllr Mike Chaplin Cllr Kurtis Crossland
PRINCIPAL ADDRESS
Sheffield City Council Parks and Countryside Centre in the Park Guildford Avenue Sheffield S2 2PL
INDEPENDENT EXAMINER
Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP
1
EARL MARSHAL RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024
The trustees present their report together with the financial statements of the charity for the year ended 31 March 2024. The financial statements comply with the charity’s trust deed, applicable law and the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19).
DESCRIPTION OF CHARITY’S TRUSTS AND OBJECTS
The charity’s governing document is a scheme sealed and dated 20 April 1967.
The objects of the charity are in or towards the provision of facilities for recreation, including physical exercise or other leisure time occupation, with the object of improving the conditions of life for the inhabitants of the City and County Borough of Sheffield and the surrounding District.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Earl Marshal Recreation Ground is a charity and the sole Trustee is Sheffield City Council. The Charity Trustee Sub Committee is a standing sub-committee of the Strategy and Resources Policy Committee. It has been established to take all decisions of the Council, including but not limited to disposal of and other dealings with charitable land.
Management of the park is the responsibility of the Councils’ Parks and Countryside service. Management and administrative decisions are not decisions of the Council as Trustee, and are made by the Executive Director of Neighbourhood Services, the Director of Parks, Leisure and Libraries, or the Head of Parks and Countryside service in accordance with the Arrangements for the Delegation of Functions To Officers, under part 3 of the Council’s constitution.
PUBLIC BENEFIT
The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of how the charity has carried out its activities for the public benefit are given in the section below.
2
EARL MARSHAL RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024
ACTIVITIES AND ACHIEVEMENTS
Earl Marshal Recreation Ground is classified as a local community park and is largely used for informal recreational activities. The area is maintained by the City Council’s Parks & Public Realm service.
The following improvement works have been made within the park over the last year:
- Sight line improvements / shrub reduction and tree canopy lifting works have improved visibility across the site, reducing anti-social behaviour.
EVENTS
We have continued to see a further increase in the use of the park by the local community throughout the year. Hopefully this will lead to future events taking place at the site.
PLANS FOR FUTURE PERIODS
There are plans in the next financial period for further shrub reduction works. Additionally there are plans to rewild some areas with the aim to increase bio-diversity.
There are plans to improve the rear of the pavilion and continue to add a Cruyff pitch. Along with this, Tarmac repairs to the path network are scheduled.
FINANCIAL REVIEW AND FUNDING
Restricted Funds - Net income of £9,130 (22/23: Net expenditure of £1,167). Additional donations income of £18,233 was received this year (22/23: £7,742) for the 3D Cruyff pitches and the pavilion improvement capital projects. Depreciation of £9,103 (22/23: £8,909) was deducted.
Unrestricted Funds - Net income of £8,615 (22/23: £3,768). This income is from investments. Expenditure on charitable activities totals £23,240 (22/23: £22,459) which is funded by income from charitable activities of £863 (22/23: £750) and the rest from the Sheffield City Council revenue grant of £22,378 (22/23: £21,709).
At 31 March 2024 the charity had total funds of £269,638 (22/23: £454,632). Most of these funds are tied up in fixed assets. All assets were revalued on 31st March 2024 by SCC Property Services. This resulted in a net impairment loss of £202,739.
3
EARL MARSHAL RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024
RESERVES POLICY
As the charity is managed and funded by the Council no specific unrestricted charity reserves are deemed to be necessary. Annual revenue expenditure is generally greater than income and the variance is born by the Council and not carried forward into the next financial year.
RISK MANAGEMENT
The charity is dependent for its day-to-day management upon Sheffield City Council. It is therefore considered expedient and cost effective for the charity to adopt the Council’s risk management policy and strategy, which it considers is a crucial part of the service planning process in highlighting key risks and how they affect the Council’s ability to deliver its service and how they will be managed. The Council has incorporated a formal approach to risk management in its day-to-day operations and has developed a toolkit to allow managers to identify risk, which would prevent them from achieving their objectives and to provide information and guidance on how these risks can be managed. The Council operates an Internal Insurance Account covering a variety of risks.
4
EARL MARSHAL RECREATION GROUND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024
Trustees' responsibilities statement
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
TRUSTEES
Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1.
Approved by the Trustees and signed on their behalf by:
23/01/2025
Signed _____ Date _______
Cllr Richard Williams – Chair of the Charity Trustee Sub Committee .
5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF EARL MARSHAL RECREATION GROUND
I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
........................................ Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP
Dated: 29/01/2025
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EARL MARSHAL RECREATION GROUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 9 Total Expenditure on: Charitable activities 4 Total Net income/(expenditure) Other recognised gains / (Losses) Gains / (Losses) on revaluation of fixed assets 8 Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted 2023/24 £ 22,378 863 8,615 31,855 23,240 23,240 8,615 4,822 13,436 |
Restricted 2023/24 £ 18,233 - - 18,233 9,103 9,103 9,130 (202,739) 284,842 91,234 |
Endowment 2023/24 £ - - - - - - - 164,968 164,968 |
Total 2023/24 £ 40,611 863 8,615 50,088 32,343 32,343 17,745 (202,739) 454,632 269,638 |
Total 2022/23 £ |
|---|---|---|---|---|---|
| 29,451 750 3,768 |
|||||
| 33,968 | |||||
| 31,368 | |||||
| 31,368 | |||||
| 2,600 - 452,031 |
|||||
| 454,632 |
On the restricted fund there was a net revaluation loss of £202,739 after a revaluation on 31st March 2024 by SCC Property Services There are no gains and losses other than the results for the year set out above. All income and expenditure derives from continuing activites.
7
EARL MARSHAL RECREATION GROUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 9 Total Expenditure on: Charitable activities 4 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted 2022/23 £ 21,709 750 3,768 26,227 22,459 22,459 3,768 1,054 4,822 |
Restricted 2022/23 £ 7,742 - - 7,742 8,909 8,909 (1,167) 286,009 284,842 |
Endowment 2022/23 £ - - - - - - - 164,968 164,968 |
Total 2022/23 £ 29,451 750 3,768 33,968 31,368 31,368 2,600 452,031 454,632 |
Total 2021/22 £ |
|---|---|---|---|---|---|
| 19,197 300 - |
|||||
| 19,497 | |||||
| 28,245 | |||||
| 28,245 | |||||
| (8,748) 460,779 |
|||||
| 452,031 |
There are no gains and losses other than the results for the year set out above. All income and expenditure derives from continuing activites.
7
EARL MARSHAL RECREATION GROUND BALANCE SHEET AS AT 31 MARCH 2024
| Unrestricted | Restricted | Endowment | Total | Total | ||
|---|---|---|---|---|---|---|
| 2023/24 | 2023/24 | 2023/24 | 2023/24 | 2022/23 | ||
| Note | £ | £ | £ | £ | £ | |
| Fixed assets | ||||||
| Tangible fixed assets | 8 | - | 91,234 | - | 91,234 | 284,842 |
| Investments | 9 | 13,436 | - | 164,968 | 178,404 | 169,790 |
| 13,436 | 91,234 | 164,968 | 269,638 | 454,632 | ||
| Current assets | ||||||
| Debtors | 10 | 873 | - | - | 873 | 633 |
| Liabilities | ||||||
| Creditors falling due within one year | 11 | (873) | - | - | (873) | (633) |
| Net current assets | - | - | - | - | - | |
| Net assets | 13,436 | 91,234 | 164,968 | 269,638 | 454,632 | |
| Funds | ||||||
| Unrestricted income funds | ||||||
| Designated funds | 14 | 13,436 | - | - | 13,436 | 4,822 |
| Restricted income funds | 13 | - | 293,972 | - | 293,972 | 284,842 |
| Endowment funds | 12 | - | - | 164,968 | 164,968 | 164,968 |
| Revaluation Reserve | 19 | (202,739) | (202,739) | - | ||
| 13,436 | 91,234 | 164,968 | 269,638 | 454,632 |
23/01/2025 Approved by the Board of Trustees on …............................... and signed on its behalf by
….......................................................
Cllr Richard Williams
Chair of the Charity Trustee Sub-Committee
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
1. Accounting Polices
Earl Marshal Recreation Ground is a registered charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to provide public parks and leisure walks.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The principal accounting policies adopted in the preparation of the financial statements are as follows:
1.1 Fixed assets
Earl Marshal Recreation Ground is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.
Land and Buildings were carried in the accounts at deemed cost as at date of transition to SORP (FRS 102).
Other Plant and Equipment are carried at cost.
Expenditure on fixed assets is capitalised, provided that the fixed asset yields benefit to the charity and the services it provides are for a period of more than one year.
Assets have been reviewed for any impairment loss in respect of consumption of economic benefit.
In 23/24 the assets were revalued by Property Services at Sheffield City Council.
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
1.2 Depreciation
Depreciation is provided on fixed assets at rates calculated to write off the cost of the assets over their expected useful lives as follows:
-
Land and previously revalued buildings are not depreciated.
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Park buildings have been depreciated on a straight line basis over 40 years, commencing on the transfer from assets under construction.
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Plant and equipment have been depreciated on a straight line basis over 10 years.
-
Depreciation is not provided on land or assets under construction.
-
The Trustees perform annual impairment reviews in accordance with the requirements of FRS 102 to ensure that the carrying value is not greater than the recoverable amount.
1.3 Investments
Fund balances are invested internally with Sheffield City Council. Investments are held at market value.
1.4 Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise of unrestricted funds that have been set aside by the trustees for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
1.5 Income
Income from donations and grants, including capital grants, is included in income when it is probable that the income will be received, and is allocated to the appropriate fund.
Investment income is included when receivable.
Rental, events, and similar income is included when the event or function has taken place.
The cost of running the park is funded by Sheffield City Council. Annual revenue expenditure is generally greater than income and any variance is borne by the Council by way of a grant to the charity.
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
1.6 Expenditure
Expenditure is included in the Statement of Financial Activities on an accruals basis, net of any VAT, which can be recovered as Sheffield City Council is the sole trustee and therefore has special status under s33 VAT Act 1994.
The main exception to this treatment is payments for such items as gas and electricity are charged at the date of the meter reading rather than being apportioned between years. This policy is applied consistently each year.
Expenditure has been allocated to the activities to which it is directly attributable.
Cost of raising funds
The cost of generating any external funding, such as grant applications and events, is attributable to the time of Sheffield City Council officers who work on a range of projects including the charity. As such it is not possible to accurately apportion the cost of this to the charity so no charge is included in the accounts.
Charitable activities
Charitable activities are set out within the charitable deeds and represent the costs associated with the running and maintenance of the park.
Governance costs
Independent examination costs and finance officer costs are charged to the charity. The Council currently absorbs the cost of other officers’ time. This policy is kept under review.
Staff costs
The staff who work for the charity are employed by Sheffield City Council, and are subject to the terms and conditions of that organisation. The costs of such staff are recharged to the charity. Full disclosure of the relevant staff costs and numbers is provided in the notes to these financial statements.
Pensions
City Council employees may participate in the Local Government Superannuation Scheme, which provides members with defined benefits related to pay and service. The City Council makes payments for this group of employees to the South Yorkshire Pensions Authority, which administers pension arrangements on behalf of Sheffield City Council and the other local authorities in the South Yorkshire area. The City Council bears any deficit or surplus on the scheme and does not charge this to the charity.
1.7 Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
1.8 Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.9 Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED TO 31 MARCH 2024
| 2. Donations and legacies Unrestricted: Sheffield City Council - revenue grant S106 maintenenace drawdown Restricted: Sheffield City Council - Capital G&C Johan Cruyff Foundation Sheffield City Council -CRP MHCLG (DCLG) |
2023/24 £ 22,378 - 22,378 9640 8593 - - 18,233 40,611 |
2022/23 £ 21,369 340 |
|---|---|---|
| 21,709 3,985 3,757 |
||
| 7,742 29,451 |
| 3. Income from charitable activities Unrestricted: Fees & charges Rents 4. Analysis of expenditure on charitable activities Unrestricted: Employees Grounds maintenance Playground refurbishment and maintenance Pavilion costs Tree works Governance costs Restricted: Depreciation 5. Governance costs Managing and administration: Independent examination fees Finance office costs 6. Staff costs and trustees' remuneration Salaries Social security costs If expenditure is greater than income the variance is borne by Sheffield financial year. |
2023/24 2022/23 £ £ - - 863 750 863 750 2023/24 2022/23 £ £ 10,833 10,134 1,208 1,129 3,892 4,087 5,429 1,880 - 3,750 1,878 1,480 23,240 22,459 9,103 8,909 32,343 31,368 2023/24 2022/23 £ £ 873 633 1,005 847 1,878 1,480 2023/24 2022/23 Total Total £ £ 8,597 8,043 2,235 2,091 10,833 10,134 City Council and not brought forward into the next |
2023/24 2022/23 £ £ - - 863 750 863 750 2023/24 2022/23 £ £ 10,833 10,134 1,208 1,129 3,892 4,087 5,429 1,880 - 3,750 1,878 1,480 23,240 22,459 9,103 8,909 32,343 31,368 2023/24 2022/23 £ £ 873 633 1,005 847 1,878 1,480 2023/24 2022/23 Total Total £ £ 8,597 8,043 2,235 2,091 10,833 10,134 City Council and not brought forward into the next |
|---|---|---|
| 750 | ||
| 2022/23 £ 10,134 1,129 4,087 1,880 3,750 1,480 |
||
| 22,459 8,909 |
||
| 31,368 | ||
| 2022/23 £ 633 847 |
||
| 1,480 | ||
| 2022/23 Total £ 8,043 2,091 |
||
| 10,134 |
No employee received remuneration of over £60,000 during the year (21/22 - None).
Trustees received no remuneration (21/22 - £Nil) and were not reimbursed for any of their expenses during the year.
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED TO 31 MARCH 2024
7. Staff numbers
| 7. Staff numbers The average number of employees during the year was 8. Fixed assets Cost At 1 April 2023 Additions Transfers Revaluation 31st March 2024 At 31 March 2024 Accumulated depreciation At 1 April 2023 Charge for the year Reverse depreciation on revaluation 31 March 2024 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
2023/24 2022/23 Number Number 1 1 Assets under construction Land and buildings Total £ £ £ - 399,218 399,218 18,233 - 18,233 - - - - (326,217) (326,217) |
2022/23 Number 1 |
|---|---|---|
| 18,233 73,001 91,234 |
||
| - 114,376 114,376 - 9,103 9,103 - (123,478) (123,478) |
||
| - - - |
||
| 18,233 73,001 91,234 |
||
| - 284,842 284,842 |
All land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation carried out March 31st 2024 by SCC Property Services
| 9. Investments At market value At 1 April 2023 Interest received Draw downs At 31 March 2024 |
2023/24 £ 169,790 8,615 - |
|---|---|
| 178,404 |
The charity funds are invested in Sheffield City Council's Consolidated Loan Funds and treated as permanent endowment funds. Interest can be used for unrestricted purposes. Market value is the same as historical cost.
| 10. Debtors Amounts due from Sheffield City Council Public Health funding receivable 11. Creditors: amounts falling due within one year Independent examination fees |
2023/24 £ 873 - 873 2023/24 £ 873 |
2022/23 £ 633 - |
|---|---|---|
| 633 | ||
| 2022/23 £ 633 |
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED TO 31 MARCH 2024
12. Endowment funds
| 12. Endowment funds | £ |
| Balance at 1 April 2023 and at 31 March 2024 | 164,968 |
The Charity funds are invested in Sheffield City Council's Consolidated Loan Funds. The original investment balances are held as endowment funds. Interest earned can be used for unrestricted purposes but is designated for one-off projects rather than ongoing running costs.
| Endowment - prior year Balance at 1 April 2022 and at 31 March 2023 13. Restricted funds Balance at 1 April 2023 Revaluation Expenditure Income Balance at 31 March 2024 Restricted funds - prior year Balance at 1 April 2022 Expenditure Income Balance at 31 March 2023 14. Unrestricted funds Balance at 1 April 2023 Income Expenditure Transfer Balance at 31 March 2024 |
£ 164,968 Land and buildings Total £ £ 284,842 284,842 (202,739) (202,739) (9,103) (9,103) 18,233 18,233 91,234 91,234 Land and buildings Total £ £ 286,009 286,009 (8,909) (8,909) 7,742 7,742 284,842 284,842 General Funds Designated Funds Total £ £ £ - 4,822 4,822 31,855 8,615 40,469 (23,240) - (23,240) (8,615) (8,615) |
£ 164,968 Land and buildings Total £ £ 284,842 284,842 (202,739) (202,739) (9,103) (9,103) 18,233 18,233 |
£ 164,968 |
|---|---|---|---|
| 91,234 91,234 | |||
| Land and buildings Total £ £ 286,009 286,009 (8,909) (8,909) 7,742 7,742 |
|||
| 284,842 284,842 |
|||
| - 13,436 13,436 |
Designated funds represent accumulated interest on the endowment funds. The trustees have set this money aside for one-off projects in the future, rather than for ongoing running costs.
| Unrestricted funds - prior year Balance at 1 April 2022 Income Expenditure Transfer Balance at 31 March 2023 |
General Funds Designated Funds Total £ £ £ - 1,054 1,054 26,227 3,768 29,995 (22,459) - (22,459) (3,768) (3,768) |
|---|---|
| - 4,822 4,822 |
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EARL MARSHAL RECREATION GROUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED TO 31 MARCH 2024
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| 15. Analysis of net assets between funds | funds | funds | Endowment | Total funds |
| £ | £ | £ | £ | |
| Investments | 13,436 | - | 164,968 | 178,404 |
| Fixed assets | - | 91,234 | - | 91,234 |
| Current assets | 873 | - | - | 873 |
| Creditors due within one year | (873) | - | - | (873) |
| 13,436 | 91,234 | 164,968 | 269,638 | |
| Analysis of net assets between funds - prior year | Unrestricted | Restricted | ||
| funds | funds | Endowment | Total funds | |
| £ | £ | £ | £ | |
| Investments | 4,822 | - | 164,968 | 169,790 |
| Fixed assets | - | 284,842 | - | 284,842 |
| Current assets | 633 | - | - | 633 |
| Creditors due within one year | (633) | - | - | (633) |
| 4,822 | 284,842 | 164,968 | 454,632 |
16. Ultimate controlling party
The ultimate controlling party is the sole trustee, Sheffield City Council.
17. Related parties
The charity has a very close relationship with Sheffield City Council who is the sole trustee and provides the balance of funding not provided elsewhere on an annual basis, to enable the charity to carry out its charitable objectives.
The amount of funding provided by Sheffield City Council during the year is £22,378 (22/23: £25,354). At the year end £873 was owed by Sheffield City Council (22/23: £633).
| 19. Revaluation Reserve Balance as at 31 March 2023 Gains on revaluation of fixed assets Depreciation charges written to Revaluation Reserve Losses on revaluation of fixed assets Balance as at 31 March 2024 |
Unrestricted funds Restricted funds Endowment Total funds £ £ £ £ - - - - (1,000) (1,000) (123,478) (123,478) - 327,217 - 327,217 |
|---|---|
| - 202,739 - 202,739 |
17