2023-03-31-accounts - Glen Howe Park

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GLEN HOWE PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

REGISTERED CHARITY NUMBER 1095716

GLEN HOWE PARK 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 - 16

GLEN HOWE PARK REFERENCE AND ADMINISTRATIVE DETAILS

CHARITY NO: 1095716

TRUSTEES

Sheffield City Council is the sole trustee of the charity, acting through the Cabinet of the Council

Charity Sub-Committee Members:

Cllr Ian Auckland (Chair) Cllr Zahira Naz (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Richard Williams Cllr Fran Belbin

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

GLEN HOWE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2023. 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 governing document is a conveyance dated 4 December 1917. The park is held in trust for the perpetual use thereof by the public for exercise and recreation. The park provides public walks and pleasure grounds and includes both recreation land and mature woodland and streams.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Glen Howe Park 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.

GLEN HOWE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

ACTIVITIES AND ACHIEVEMENTS

Work to establish recent tree planting and cutting back vegetation to clear the footpath network.
Control of invasive species such as Japanese Knotweed.
Tree and vegetation crown lifting and cutting back to keep paths clear .
Tree safety work.
Glade opening and tree planting/maintenance to diversify woodland structure.

EVENTS

There have been no formally organised events in the park this year.

PLANS FOR FUTURE PERIODS

Continuing work to establish recent tree planting and cutting back vegetation to clear the footpath network.
Continuation of Tree safety work.
Continuing Japanese Knotweed control as well as Rhododendron and Holly control.
Capital Work underway for a retaining wall at Glen Howe park

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net expenditure of £2,418 (21/22: Net income of £94). This is due to restricted funds received of £1,000 (21/22: £3,512) for the retaining wall capital project, less depreciation of £3,418 (21/22: £3,418).

Unrestricted Funds - Net income of £0 (21/22: £0). Expenditure on charitable activities totals £37,779 (21/22: £20,159) which is funded by income from charitable activities of £2,907 (21/22: £4,407) and the rest from the Sheffield City Council revenue grant of £34,871 (21/22: £15,752).

At 31 March 2023 the charity had total funds of £117,337 (21/22: £119,755). These funds are all tied up in fixed assets.

GLEN HOWE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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.

GLEN HOWE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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:

Signed

Date 25/01/2024

Cllr Ian Auckland – Chair of the Charity Trustee Sub Committee .

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF GLEN HOWE PARK

I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2023.

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: 25/01/2024

GLEN HOWE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Total Expenditure on: Charitable activities 4 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2022/23 £ 34,871 2,907 37,779 37,779 37,779 - - -	Restricted 2022/23 £ 1,000 - 1,000 3,418 3,418 (2,418) 119,755 117,337	Total 2022/23 £ 35,871 2,907 38,779 41,197 41,197 (2,418) 119,755 117,337	Total 2021/22 £ 19,264 4,407 23,671 23,577 23,577 94 119,661 119,755

GLEN HOWE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Total Expenditure on: Charitable activities 4 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward	Unrestricted 2021/22 £ 15,752 4,407 20,159 20,159 20,159 - - -	Restricted 2021/22 £ 3,512 - 3,512 3,418 3,418 94 119,661 119,755	Total 2021/22 £ 19,264 4,407 23,671 23,577 23,577 94 119,661 119,755	Total 2020/21 £ 39,684 2,962 42,646 23,570 23,570 19,076 100,585 119,661

All income and expenditure derives from continuing activites.

GLEN HOWE PARK BALANCE SHEET AS AT 31 MARCH 2023

Unrestricted 2022/23 Note £ Fixed assets Tangible fixed assets 8 - Current assets Debtors 9 633 Liabilities Creditors falling due within one year 10 (633) Net current assets - Net assets - The funds of the charity Unrestricted income funds - Restricted income funds 11 - Total charity funds - Approved by the Trustees and signed on their behalf by: Signed	Restricted 2022/23 £ 117,337 - - - 117,337 - 117,337 117,337 Date	Total 2022/23 £ 117,337 633 (633) - 117,337 - 117,337 117,337 25/01/2024	Total 2021/22 £ 119,755 630 (630) - 119,755 - 119,755 119,755

Cllr Ian Auckland - Chair of the Charity Trustee Sub-Committee

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

1. Accounting Polices

Glen Howe Park 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 facilities for recreational and leisure time occupation.

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

Glen Howe Park 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 their deemed cost at the 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.

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.
Park buildings have been depreciated on a straight line basis over 40 years, commencing on the transfer from assets under construction.
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, activity 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.

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

2. Donations and legacies Unrestricted revenue grants: Sheffield City Council Restricted: Sheffield City Council - CRP	2022/23 £ 34,871 1,000 35,871	2021/22 £ 15,752 3,512 19,264

If expenditure is greater than income the variance is borne by Sheffield City Council and not brought forward into the next financial year.

3. Income from charitable activities Unrestricted: Memorial Benches & Donations Fees & charges Rents 4. Analysis of expenditure on charitable activities Unrestricted: Employees (note 6) Ranger service Repairs and maintenance Grounds maintenance Playground refurbishment and maintenance Water and sewage Tree work Supplies and Services Governance costs (note 5) Restricted: Depreciation 5. Governance costs Unrestricted: Managing and administration: Independent examination fees Finance office costs	2022/23 £ - 35 2,872 2,907 2022/23 £ 7,959 594 13,980 1,311 3,747 496 8,213 - 1,480 37,779 3,418 3,418 41,197 2022/23 £ 633 847 1,480	2021/22 £ 1087 313 3,007 4,407 2021/22 £ 7,350 88 2,475 1,248 3,747 767 3,050 - 1,434 20,159 3,418 3,418 23,577 2021/22 £ 630 804 1,434

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

6. Staff costs and trustees' remuneration Salaries Social security costs	2022/23 Total £ 6,317 1,642 7,959	2021/22 Total £ 5,833 1,517 7,350

No employee received remuneration of over £60,000 during the year (2021 - None).

Trustees received no remuneration (2021 - £Nil) and were not reimbursed for any of their expenses during the year.

7. Staff numbers The average number of employees during the year was 8. Fixed assets Cost At 1 April 2022 Additions Transfers As at 31 March 2023 Accumulated depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022	2022/23 2021/22 Number Number 1 1 At cost Land & Buildings Council dwellings Total £ £ £ 30,246 115,407 145,653 1,000 1,000 - - 31,246 115,407 146,653 1,148 24,750 25,898 668 2,750 3,418 1,816 27,500 29,316 29,430 87,907 117,337 29,098 90,657 119,755

Council Dwellings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation in 2012/13 by the Asset Partnership Services team of Kier who are MRICS qualified.

9. Debtors Amounts due from Sheffield City Council 10. Creditors: amounts falling due within one year Independent examination fees	2022/23 £ 633 2021/22 £ 633	2021/22 £ 630 2021/22 £ 630

GLEN HOWE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

11. Restricted funds Balance at 1 April 2022 Income Expenditure and depreciation Balance at 31 March 2023	Land Council Dwellings Total £ £ £ 29,098 90,657 119,755 1,000 - 1,000 (668) (2,750) (3,418) 29,430 87,907 117,337

Council dwellings fund

This fund relates to a lodge which is currently rented out.

Land and Buildings

This fund relates to floodlighting installed around the park lodge

Restricted funds - prior year Balance at 1 April 2021 Income Expenditure and depreciation Balance at 31 March 2022 12. Analysis of net assets between funds Fixed asset investments Current assets Creditors due within one year Analysis of net assets between funds - prior year Fixed asset investments Current assets Creditors due within one year		Land Council Dwellings Total £ £ £ 26,254 93,407 119,661 3,512 - 3,512 (668) (2,750) (3,418) 29,098 90,657 119,755 Unrestricted funds Restricted funds Total funds £ £ £ - 117,337 117,337 633 - 633 (633) - (633) - 117,337 117,337 Unrestricted funds Restricted funds Total funds £ £ £ - 119,755 119,755 630 - 630 (630) - (630) - 119,755 119,755

13. Ultimate controlling party

The ultimate controlling party is the sole trustee, Sheffield City Council.

14. 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 £35,906 (21/22: £19,264). At the year end £633 was owed by Sheffield City Council (21/22: £630).