ENDCLIFFE PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
REGISTERED CHARITY NUMBER 1112149
ENDCLIFFE 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 - 17 |
ENDCLIFFE PARK REFERENCE AND ADMINISTRATIVE DETAILS
CHARITY NO: 1112149
TRUSTEES
Sheffield City Council is the sole Trustee of the charity, acting through the Charity Trustee Sub Committee.
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 Rogers Spencer Limited Newstead House Pelham Road Nottingham NG5 1AP
1
ENDCLIFFE 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 charity’s governing documents is a conveyance dated 15 October 1885.
The objects of the charity are public walks and leisure gardens.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Endcliffe 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 s. 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.
ACTIVITIES AND ACHIEVEMENTS
During 2022/2023, the City Council has continued to meet and work with the friends of the Porter Valley, who are a local community group and a registered charity with the declared aim of preserving and enhancing the natural and historic characteristics of the Porter Valley of which Endcliffe Park forms an important part, discussing various issues alongside planning tasks for regular workdays.
Friends of Porter Valley, the City Council’s Ranger Service, park staff and corporate volunteer groups, worked together on several working days to weed, prune and undertake other general parks tasks throughout the valley.
The weekly 5km Parkrun normally attracts over 700 runners per week.
The City Council introduced pay & display parking continued to be a successful additional to the park, as well as installing additional memorial benches throughout the site. A new herbaceous plant bed was added to the existing flower beds.
Sections of the park were rewilded/ naturalised to help increase biodiversity and this will continue to be an ongoing process.
2
ENDCLIFFE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023
EVENTS
The following events took place during 2022/2023:
----- Start of picture text -----
APPROX
DATE EVENT ORGANISATION
ATTENDANCE
18/04/2022 Porter Valley Duck Race 2000 Friends of Porter Valley
14/05/2022 Fake Festival 1500 Fake Festivals Ltd
10/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
11/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
12/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
13/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
14/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
15/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
16/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
17/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
18/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
19/06/2022 Farrar's Family Fun Fair 500 William Percival and Son
25/06/2022 Round Sheffield Run 2500 Kandoo Events
26/06/2022 Round Sheffield Run 2500 Kandoo Events
02/07/2022 SBC's Secret Summer Project 50 Stand & Be Counted Theatre
03/07/2022 SBC's Secret Summer Project 50 Stand & Be Counted Theatre
17/08/2022 Circus Zyair 450 Circus Zyair
18/08/2022 Circus Zyair 450 Circus Zyair
19/08/2022 Circus Zyair 450 Circus Zyair
20/08/2022 Circus Zyair 450 Circus Zyair
Sheffield Institute for Translational
20/08/2022 Soak a Scientist 50
Neuroscience
21/08/2022 Circus Zyair 450 Circus Zyair
10/09/2022 SY Orienteering 370 South Yorkshire Orienteering
09/10/2022 101010 1000 Major Events
11/12/2022 Support Dogs Santa Paws Walk 120 Support Dogs
08/01/2023 Round Sheffield Run Winter 1500 Kandoo Events
----- End of picture text -----
PLANS FOR FUTURE PERIODS
We are developing a masterplan for long term park improvement’s, utilising the parks buildings and looking at income generation. We hope to develop the entrance planting plans including new perennial planting to Rustlings Road and Hunters Bar entrances.
3
ENDCLIFFE PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023
FINANCIAL REVIEW AND FUNDING
Restricted Funds - Net expenditure was £19,546 (21/22: net expenditure of £11,372) comprising grants received from Sheffield City Council of £6,185 (21/22: £14,359). Depreciation of £25,731 (2122: £25,731) was also charged to the restricted fund.
The reduction in grant was due to less capital expenditure this year. The majority of which was spent on pathways and car park development.
Endowment Fund – The balance on Net income on endowment funds was £nil (21/22: £nil).
Unrestricted funds - Net income of £56 (21/22: £2). Income from charitable activities was £113,433 (21/22: £74,968) with expenditure of £124,047 (21/22: £153,622). The deficit was funded by the grant from Sheffield City Council of £9,422 (21/22: £74,209).
The income from charitable activities has increased by £38,465 as a result of increased rents from concessions, and the recognition of more income from Events in the park.
At 31 March 2023 the charity had total funds of £805,295 (21/22: £824,785). £802,777 (21/22: £822,323) of these funds are tied up in fixed assets. The remainder being endowment and designated funds of £2,518 (21/22: £2,462) held as investments.
There was investment income of £56 (21/22: £2). This has been transferred to the Designated Fund which now totals £138 and is available to spend in accordance with the Charity’s Trusts & Objectives.
RESERVES POLICY
As the charity is managed and funded by the Council no specific 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.
This charity has specific monies invested in the Council’s internal investment fund. Interest is received half yearly on the monies invested. The original investment forms the endowment fund and any interest earned is unrestricted income. This income has been earmarked by the trustees for use at the site for one-off projects rather than on-going costs and has therefore been shown as a designated fund.
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
ENDCLIFFE 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 .
5
INDEPENDENT EXAMINER’S REPORT
TO THE TRUSTEES OF Endcliffe 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
6
ENDCLIFFE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 10 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted 2022/23 £ 10,614 113,433 56 124,103 - 124,047 124,047 56 82 138 |
Restricted 2022/23 £ 6,185 - - 6,185 - 25,731 25,731 (19,546) 822,323 802,777 |
Endowment 2022/23 £ - - - - - - - - 2,380 2,380 |
Total 2022/23 £ 16,799 113,433 56 130,288 - 149,778 149,778 (19,490) 824,785 805,295 |
Total 2021/22 £ 93,013 74,968 2 167,983 - 179,353 179,353 (11,370) 836,155 824,785 |
|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities.
7
ENDCLIFFE PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022
| Note Income and endowments from: Donations and legacies 2 Charitable activities 3 Investments 10 Total Expenditure on: Raising funds 4 Charitable activities 5 Total Net income/(expenditure) Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted 2021/22 £ 78,654 74,968 2 153,624 - 153,622 153,622 2 80 82 |
Restricted 2021/22 £ 14,359 - - 14,359 - 25,731 25,731 (11,372) 833,695 822,323 |
Endowment 2021/22 £ - - - - - - - - 2,380 2,380 |
Total 2021/22 £ 93,013 74,968 2 167,983 - 179,353 179,353 (11,370) 836,155 824,785 |
Total 2020/21 £ 117,219 41,897 - 159,116 - 134,769 134,769 24,347 811,808 836,155 |
|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from
8
ENDCLIFFE PARK BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible fixed assets 9 Investments 10 Current assets Debtors 11 Liabilities Creditors falling due within one year 12 Net current assets Net assets Funds Unrestricted income funds Designated funds 15 Restricted income funds 13 Endowment funds 14 |
Unrestricted 2022/23 £ - 138 138 950 (950) - 138 138 - - 138 |
Restricted 2022/23 £ 802,777 - 802,777 - - - 802,777 802,777 - 802,777 |
Endowment 2022/23 £ - 2,380 2,380 - - - 2,380 - 2,380 2,380 |
Total 2022/23 £ 802,777 2,518 805,295 950 (950) - 805,295 138 802,777 2,380 805,295 |
Total 2021/22 £ 822,323 2,462 824,785 945 (945) - 824,785 82 822,323 2,380 824,785 |
|---|---|---|---|---|---|
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
9
ENDCLIFFE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023
1. Accounting Polices
Endcliffe 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 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
Endcliffe 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 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.
10
ENDCLIFFE 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, 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.
11
ENDCLIFFE 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.
12
ENDCLIFFE 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.
13
ENDCLIFFE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 23
| 2. Donations and legacies Grants Unrestricted: Donation Sheffield City Council - revenue grant Memorial Benches & Tree planting Restricted: Sheffield City Council - capital grant |
2022/23 £ - 9,422 1,192 10,614 6,185 6,185 16,799 |
2021/22 £ - 74,209 4,445 78,654 14,359 14,359 93,013 |
|---|---|---|
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: Fees and charges Events Rents 4. Analysis of expenditure on raising funds Unrestricted: Events 5. Analysis of expenditure on charitable activities Unrestricted: Employees Ranger service Repairs and maintenance Grounds maintenance Playground refurbishment and maintenance Electricity Water and sewage Telephones Supplies and services Tree work Governance costs Restricted: Depreciation 6. Governance costs Managing and administration: Independent examination fees Finance office costs |
2022/23 £ 6,810 24,905 81,718 113,433 - 2022/23 £ 74,582 - 5,379 13,949 4,367 3,785 2,077 - 6,763 10,926 2,220 124,047 25,731 149,778 2022/23 £ 950 1,270 2,220 |
2021/22 £ 8,627 - 66,341 74,968 - 2021/22 £ 66,230 - 6,826 13,284 43,527 3,014 2,822 - 11,758 4,010 2,151 153,622 25,731 179,353 2021/22 £ 945 1,206 2,151 |
|---|---|---|
14
ENDCLIFFE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 23
| 7. Staff costs and trustees' remuneration Salaries Social security costs Superannuation |
2022/23 Total £ 57,816 5,782 10,985 74,582 |
2021/22 Total £ 51,341 5,134 9,755 66,230 |
|---|---|---|
No employee received remuneration of over £60,000 during the year (2022 - None). Trustees received no remuneration (2022 - £Nil) and were not reimbursed for any of their expenses during the year.
| 8. Staff numbers The average number of employees during the year was 9. Fixed assets Cost At 1 April 2022 Additions Transfers At 31 March 2023 Acccumulated 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 3 2 Assets under Construction Plant and Equipment Land and buildings Total £ £ - 2,331 1,042,009 1,044,340 6,185 - - 6,185 (6,185) - 6,185 - - 2,331 1,048,194 1,050,525 - 2,331 219,686 222,017 - - 25,731 25,731 - 2,331 245,417 247,748 - - 802,777 802,777 - - 822,323 822,323 |
|---|---|
Land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation carried out in 2012/13 by the Asset Partnership Services team of Kier who are MRICS qualified.
| 10. Investments At market value At 1 April 2022 Interest received At 31 March 2023 |
2022/23 £ 2,462 56 2,518 |
|---|---|
The charity funds are invested in Sheffield City Council's Consolidated Loan Funds (interest paid half yearly). Market value is the same as historical cost.
| 11. Debtors Amounts due from Sheffield City Council |
2022/23 £ 950 |
2021/22 £ 945 |
|---|---|---|
15
ENDCLIFFE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 23
| 12. Creditors: amounts falling due within one year Independent examination fees 13. Restricted funds Balance at 1 April 2022 Income Expenditure Balance at 31 March 2023 |
2022/23 2021/22 £ £ 950 945 Land and Buildings Total £ £ 822,323 822,323 6,185 6,185 (25,731) (25,731) 802,777 802,777 |
|---|---|
Land and Buildings
This fund comprises various grants and donations received to finance capital projects in Endcliffe Park.
| Restricted funds - prior year Balance at 1 April 2021 Income Expenditure Balance at 31 March 2022 14. Endowment funds At 1 April 2022 and 31 March 2023 |
Land and Buildings Total £ £ 833,695 833,695 14,359 14,359 (25,731) (25,731) 822,323 822,323 2022/23 £ 2,380 |
|---|---|
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 investment form part of the fund.
| Endowment funds - prior year At 1 April 2021 and 31 March 2022 |
2021/22 £ 2,380 |
|---|---|
15. Unrestricted funds
| Balance at 1 April 2022 Income Expenditure Transfer Balance at 31 March 2023 |
£ £ £ - 82 82 124,103 - 124,103 (124,047) - (124,047) (56) 56 - (0) 138 138 General funds Designated funds Total |
|---|---|
Designated funds represent accumulated interest on the endowment funds. The trustees have set this money aside for oneoff projects in the future, rather than for ongoing running costs.
16
ENDCLIFFE PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 23
Unrestricted funds - prior year
| Balance at 1 April 2021 Income Expenditure Transfer Balance at 31 March 2022 |
£ £ £ - 80 80 153,624 - 153,624 (153,622) - (153,622) (2) 2 - - 82 82 General funds Designated funds Total |
|---|---|
| 16. Analysis of net assets between funds Fixed asset investments Current assets Creditors due within one year Fixed asset investments Current assets Creditors due within one year Analysis of net assets between funds - prior year |
Unrestricted funds Restricted funds Endowment Total funds £ £ £ £ 138 802,777 2,380 805,295 950 - - 950 (950) - - (950) 138 802,777 2,380 805,295 Unrestricted Restricted Endowment Total funds £ £ £ £ 84 822,323 2,380 824,785 945 - - 945 (945) - - (945) 84 822,323 2,380 824,785 |
|---|---|
17. Ultimate controlling party
The ultimate controlling party is the sole trustee, Sheffield City Council.
18. 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 £15,607 (21/22: £88,568). At the year end £950 was owed by Sheffield City Council (21/22: £945).
17