REGISTERED CHARITY NUMBER: 1090779
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
PENNY PARKS CHARITABLE TRUST
Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
PENNY PARKS CHARITABLE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 8 |
| Detailed Statement of Financial Activities | 9 |
PENNY PARKS CHARITABLE TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1090779
Principal address
10 Mitchley Avenue Purley Surrey CR8 1EA
Trustees
Mrs P Ludbrook D Collingridge Dr P Charlton Ms D Goldsmith Ms K Haden-Smith
Independent Examiner
John Duggan FCA Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
Approved by order of the board of trustees on 11 October 2024 and signed on its behalf by:
Mrs P Ludbrook - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENNY PARKS CHARITABLE TRUST
Independent examiner's report to the trustees of Penny Parks Charitable Trust
I report to the charity trustees on my examination of the accounts of Penny Parks Charitable Trust (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 accounts to be reached.
John Duggan FCA The Institute of Chartered Accountants in England and Wales
Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP
11 October 2024
Page 2
PENNY PARKS CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 25,285 Other trading activities 2 8,594 Investment income 3 191 Total 34,070 EXPENDITURE ON Raising funds 9,427 NET INCOME/(EXPENDITURE) 24,643 RECONCILIATION OF FUNDS Total funds brought forward 18,667 TOTAL FUNDS CARRIED FORWARD 43,310 |
2022 Total funds £ 903 23,736 - 24,639 25,421 (782) 19,449 18,667 |
|---|---|
The notes form part of these financial statements
Page 3
PENNY PARKS CHARITABLE TRUST
BALANCE SHEET 31 DECEMBER 2023
| 2023 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 43,910 CREDITORS Amounts falling due within one year 6 (600) NET CURRENT ASSETS 43,310 TOTAL ASSETS LESS CURRENT LIABILITIES 43,310 NET ASSETS 43,310 FUNDS 7 Unrestricted funds 43,310 TOTAL FUNDS 43,310 |
2022 Total funds £ 18,667 - |
|---|---|
| 18,667 | |
| 18,667 | |
| 18,667 | |
| 18,667 | |
| 18,667 |
The financial statements were approved by the Board of Trustees and authorised for issue on 11 October 2024 and were signed on its behalf by:
P Charlton - Trustee
The notes form part of these financial statements
Page 4
PENNY PARKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER TRADING ACTIVITIES
| Fundraising events Shop income Workshop income Reimbursements |
2023 £ 288 769 7,537 - 8,594 |
2022 £ 14,837 105 8,900 (106) 23,736 |
|---|---|---|
Page 5
continued...
PENNY PARKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
3. INVESTMENT INCOME
| INVESTMENT INCOME | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Interest receivable | 191 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 903 |
| Other trading activities | 23,736 |
| Total | 24,639 |
| EXPENDITURE ON | |
| Raising funds | 25,421 |
| NET INCOME/(EXPENDITURE) | (782) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 19,449 |
| TOTAL FUNDS CARRIED FORWARD | 18,667 |
Page 6
continued...
PENNY PARKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Other creditors | 600 | - | |
| 7. | MOVEMENT IN FUNDS | ||
| Net | |||
| movement | At | ||
| At 1.1.23 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 18,667 |
24,643 | 43,310 | |
| TOTAL FUNDS 18,667 |
24,643 | 43,310 | |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 34,070 |
(9,427) | 24,643 | |
| TOTAL FUNDS 34,070 |
(9,427) | 24,643 | |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.1.22 | in funds | 31.12.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 19,449 |
(782) | 18,667 | |
| TOTAL FUNDS 19,449 |
(782) | 18,667 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 24,639 |
(25,421) | (782) | |
| TOTAL FUNDS 24,639 |
(25,421) | (782) |
continued...
Page 7
PENNY PARKS CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.22 | in funds | 31.12.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 19,449 | 23,861 | 43,310 |
| TOTAL FUNDS | 19,449 | 23,861 | 43,310 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 58,709 | (34,848) | 23,861 |
| TOTAL FUNDS | 58,709 | (34,848) | 23,861 |
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 8
PENNY PARKS CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 25,225 | 903 |
| Admissions | 60 | - |
| 25,285 | 903 | |
| Other trading activities | ||
| Fundraising events | 288 | 14,837 |
| Shop income | 769 | 105 |
| Workshop income | 7,537 | 8,900 |
| Reimbursements | - | (106) |
| 8,594 | 23,736 | |
| Investment income | ||
| Interest receivable | 191 | - |
| Total incoming resources | 34,070 | 24,639 |
| EXPENDITURE | ||
| Support costs | ||
| Management | ||
| Sundries | 39 | 677 |
| Donations | - | 3,500 |
| Sri Lanka costs | 480 | 3,570 |
| Charity ball and workshops | 1,823 | 13,067 |
| Ballet services | 6,485 | 4,607 |
| 8,827 | 25,421 | |
| Governance costs | ||
| Accountancy and legal fees | 600 | - |
| Total resources expended | 9,427 | 25,421 |
| Net income/(expenditure) | 24,643 | (782) |
This page does not form part of the statutory financial statements
Page 9