**WESTON PARK TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
**REGISTERED CHARITY NUMBER 1112685**
## **WESTON PARK TRUST 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|
## **WESTON PARK TRUST REFERENCE AND ADMINISTRATIVE DETAILS**
## **CHARITY NO:** 1112685
## **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 for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP
1
## **WESTON PARK TRUST 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 have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 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 declaration of trust dated 5 December 2005.
The objects are:
To promote for the benefit of the inhabitants of Sheffield and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.
To advance the education of the public, to promote and to advance education in the arts,in particular, by the establishment and maintenance of a museum and art gallery.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Weston 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.
2
## **WESTON PARK TRUST TRUSTEES REPORT YEAR ENDED 31 MARCH 2023**
## **ACTIVITIES AND ACHIEVEMENTS**
Weston Park was the first municipal park in the City and is one of the most significant historic parks and is very popular with local residents and visitors to the City. It is also a park that is highly valued by Sheffield University, the Children’s Hospital and the City Museum. These three partners border the park on three of its four sides.
Heritage Lottery funding has enabled the full restoration of the Park to take place. There is an active friends group for the Park and they work very closely with Parks and Public Realm officers with the aim of maintaining the site to Green flag standard.
There continued to be several weddings which took place within the park, utilising the bandstand and surrounding gardens.
Regular band concerts took place every Sunday afternoon through June and July. These concerts were attended by local brass band who played a 2-hour slot between 2-4pm.
The park maintained it Green Flag status for another year and continues to improve year on year.
The concession cart continued to be very successful and increased the parks visitor experience.
## **PLANS FOR THE FUTURE PERIODS**
- To continue the close working relationship with the Friends group and partners including the University, Museum and local hospitals.
- To re-apply for and retain the Green Flag Award in 2023/24.
- The bandstand will continue to be used as a venue for weddings.
- To continue to maintain the park to its high standard of grounds maintenance and customer care.
- Continue to replace and refurbish wooden park benches.
- Re plant missing plant material and replace dead or trees and shrubs.
- Aerate main event area.
3
## **EVENTS**
**----- Start of picture text -----**
APPROX
DATE EVENT ORGANISATION
ATTENDANCE
17/04/2022 Egg Run 500 Children's Hospital Charity
02/05/2022 Eid Prayer in the Park 500 Muslim Welfare House of Sheffield
22/05/2022 Weston May Fayre 5000 Major Events
25/09/2022 Route De Peak cycle ride 200 Major Events
13/11/2022 Remembrance Parade 200 Sheffield OTC
05/12/2022 Snowflake Light Switch on 300 The Children's Hospital Charity
**----- End of picture text -----**
## **FINANCIAL REVIEW AND FUNDING**
**Restricted Funds** - Net incoming and outgoing resources of £0 (21/22: £0). The land and buildings within these funds is not depreciated, hence there being no movement from the prior year.
**Unrestricted funds** - Net expenditure of £0 (21/22: £0). The income from charitable activities was £46,258 (21/22: £16,115) with expenditure of £136,310 (21/22: £105,815). The deficit was funded by the grant from Sheffield City Council of £97,015 (21/22: £89,870).
At 31 March 2023 the charity had total funds of £25,452,752 (21/22: £25,452,752). These funds are all tied up in fixed assets.
## **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 borne 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
## **WESTON PARK TRUST 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 2023. 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 Weston 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:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. 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
4. 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
## **WESTON PARK TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023**
|Note
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
**Total**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total**
**Net income/(expenditure)**
**Gains on revaluation of fixed assets**
**Net movements in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**2022/23**
**£**
**97,015**
**46,258**
**143,273**
**6,963**
**136,310**
**143,273**
**-**
**-**
**-**
**-**
**-**|**Restricted**
**2022/23**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**3,042,752**
**3,042,752**|**Endowment**
**2022/23**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**22,410,000**
**22,410,000**|**Total**
**2022/23**
**£**
**97,015**
**46,258**
**143,273**
**6,963**
**136,310**
**143,273**
**-**
**-**
**-**
**25,452,752**
**25,452,752**|Total
2021/22
£
89,870
16,115
105,985
170
105,815
105,985
-
-
-
25,452,752
25,452,752|
|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activites.
7
## **WESTON PARK TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022**
|Note
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
**Total**
**Expenditure on:**
Raising funds
4
Charitable activities
5
**Total**
**Net income/(expenditure)**
**Gains on revaluation of fixed assets**
**Net movements in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**2021/22**
**£**
**89,870**
**16,115**
**105,985**
**170**
**105,815**
**105,985**
**-**
**-**
**-**
**-**
**-**|**Restricted**
**2021/22**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**3,042,752**
**3,042,752**|**Endowment**
**2021/22**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**22,410,000**
**22,410,000**|**Total**
**2021/22**
**£**
**89,870**
**16,115**
**105,985**
**170**
**105,815**
**105,985**
**-**
**-**
**-**
**25,452,752**
**25,452,752**|Total
2020/21
£
91,816
7,770
99,586
-
99,586
99,586
-
-
-
25,452,752
25,452,752|
|---|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activites.
8
## **WESTON PARK TRUST BALANCE SHEET YEAR ENDED 31 MARCH 2023**
|Note
**Fixed assets**
Tangible fixed assets
9
**Current assets**
Debtors
10
**Liabilities**
Creditors falling due within one year
11
**Net current assets**
**Net assets**
**Funds**
Unrestricted income funds
13
Restricted income funds
14
Endowment funds
12|**Unrestricted**
**2022/23**
**£**
**-**
**844**
**(844)**
**-**
**-**
**-**
**-**
**-**
**-**|**Restricted**
**2022/23**
**£**
**3,042,752**
**-**
**-**
**-**
**3,042,752**
**-**
**3,042,752**
**-**
**3,042,752**|**Endowment**
**2022/23**
**£**
**22,410,000**
**-**
**-**
**-**
**22,410,000**
**-**
**-**
**22,410,000**
**22,410,000**|**Total**
**2022/23**
**£**
**25,452,752**
**844**
**(844)**
**-**
**25,452,752**
**-**
**3,042,752**
**22,410,000**
**25,452,752**|Total
2021/22
£
25,452,752
840
(840)
-
25,452,752
-
3,042,752
22,410,000
25,452,752|
|---|---|---|---|---|---|
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**
9
**WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
## **1. Accounting Polices**
Weston Park Trust 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 the provision of facilities for recreation and to advance the education by the maintenance of a museum and art gallery.
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**
Weston Park is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.
All Land and Buildings are carried at deemed cost, as at transition to SORP (FRS 102).
These costs have been identified and capitalised in recent years but for earlier years, where no records are available, the original cost is treated as £nil.
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
**WESTON PARK TRUST 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. The buildings are not depreciated because the buildings are maintained in good condition so that their value is not impaired by the passage of time and in consequence any element of depreciation would be immaterial. 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 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.
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.
## **1.4 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, room hire 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.
## **1.5 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.
11
**WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
## **Cost of raising funds**
The cost of generating any external funding, such as grant applications and events or wedding bookings, 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.
## **1.6 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.
## **1.7 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.
12
**WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
## **1.8 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
## **WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
|**2. Donations and legacies**
Unrestricted:
Sheffield City Council - revenue grant
Restricted:
Sheffield City Council
S106|**2022/23**
**£**
**97,015**
**97,015**
**-**
**-**
**97,015**|2021/22
£
89,870
89,870
-
-
89,870|
|---|---|---|
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 and trees
Events and weddings
Concessions
Rent
**4. Analysis of expenditure on raising funds**
Events and weddings
**5. Analysis of expenditure on charitable activities**
Unrestricted:
Employees
Repairs
Tree work
Electricity
Water and sewage
Telephones
Supplies and services
Governance costs
**6. Governance costs**
Managing and administration:
Independent Examination fees
Finance office costs|**2022/23**
**£**
**200**
**9,570**
**27,000**
**9,488**
**46,258**
**2022/23**
**£**
**6,963**
**6,963**
**2022/23**
**£**
**77,072**
**12,542**
**6,414**
**13,583**
**1,428**
**684**
**22,613**
**1,973**
**136,310**
**2022/23**
**£**
**844**
**1,129**
**1,973**|2021/22
£
908
-
5,769
9,438
16,115
2021/22
£
170
170
2021/22
£
72,919
6,570
200
6,896
886
640
15,792
1,912
105,815
2021/22
£
840
1,072
1,912|
|---|---|---|
14
## **WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
|**7. Staff costs and trustees' remuneration**
Salaries
Social security costs
Pension|**2022/23**
**Total**
**£**
**60,686**
**4,855**
**11,530**
**77,072**|2021/22
Total
£
57,417
4,593
10,909
72,919|
|---|---|---|
No employee received remuneration of over £60,000 during the year (2022 - None).
Trustees received no remuneration and were not reimbursed for any of their expenses during the year (2022 - £Nil).
|**8. Staff numbers**
The average number of employees during the year was
**9. Fixed assets**
**At cost**
At 1 April 2022
Additions
Transfers
At 31 March 2023
**Accumulated depreciation**
At 1 April 2022 and 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022|**2022/23**
2021/22
**Number**
Number
**3**
2
At cost
At cost
**Mappin**
**museum**
**Land and**
**buildings**
**Total**
**£**
**£**
**£**
**22,410,000**
**3,042,752**
**25,452,752**
**-**
**-**
**-**
**-**
**-**
**-**
**22,410,000**
**3,042,752**
**25,452,752**
**-**
**-**
**-**
**-**
**22,410,000**
**3,042,752**
**25,452,752**
22,410,000
3,042,752
25,452,752|
|---|---|
The Mappin Museum is included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation of 1 April 2015 by the Corporate Property Division of Sheffield City Council.
|**10. Debtors**
Amounts due from Sheffield City Council|**2022/23**
**£**
**844**|2021/22
£
840|
|---|---|---|
15
**WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
|**11. Creditors: amounts falling due within one year**
Independent examination fees|**2022/23**
**£**
**844**|2021/22
£
840|
|---|---|---|
**Permanent 12. Endowment funds endowment £** At 1 April 2022 and 31 March 2023 **22,410,000**
Endowment funds represent the buildings in Weston Park which must be held permanently by the charity and which were transferred to the charity by Sheffield City Council on 1 April 2006 at a value of £2,500,000 and which were revalued on 1 April 2015. The buildings principally comprise Weston Park Museum and the Mappin Art Gallery which are leased to Sheffield Galleries and Museums Trust, a registered charity which operates the museum and art gallery and has incurred significant expenditure on the redevelopment of the building.
|**Endowment funds - prior year**
At 1 April 2021 and 31 March 2022
**13. Unrestricted funds**
Balance at 1 April 2022
Income
Expenditure
Balance at 31 March 2023
**Unrestricted funds - prior year**
Balance at 1 April 2021
Income
Expenditure
Balance at 31 March 2022
**14. Restricted funds**
Balance at 1 April 2022
Income
Balance at 31 March 2023
**Restricted funds - prior year**
Balance at 1 April 2021
Income
Balance at 31 March 2022|**Permanent**
**endowment**
**£**
**22,410,000**
**General**
**funds**
**Total**
**£**
**£**
**-**
**-**
**143,273**
**143,273**
**(143,273)**
**(143,273)**
**-**
**-**
**General**
**funds**
**Total**
**£**
**£**
**-**
**-**
**105,985**
**105,985**
**(105,985)**
**(105,985)**
**-**
**-**
**Land and**
**buildings**
**Total**
**£**
**£**
**3,042,752**
**3,042,752**
**-**
**-**
**3,042,752**
**3,042,752**
**Land and**
**buildings**
**Total**
**£**
**£**
**3,042,752**
**3,042,752**
**-**
**-**
**3,042,752**
**3,042,752**|
|---|---|
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## **WESTON PARK TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023**
|**15. 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|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**Total funds**
**£**
**£**
**£**
**£**
**-**
**3,042,752**
**22,410,000**
**25,452,752**
**844**
**-**
**-**
**844**
**(844)**
**-**
**-**
**(844)**
**-**
**3,042,752**
**22,410,000**
**25,452,752**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**Total funds**
**£**
**£**
**£**
**£**
**-**
**3,042,752**
**22,410,000**
**25,452,752**
**840**
**-**
**-**
**840**
**(840)**
**-**
**-**
**(840)**
**-**
**3,042,752**
**22,410,000**
**25,452,752**|
|---|---|
## **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 £97,015 (21/22: £89,870). At the year end £844 was owed by Sheffield City Council (21/22: £840).
17