**REGISTERED COMPANY NUMBER: 04992631 (England and Wales) REGISTERED CHARITY NUMBER: 1119391**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2023**
## **FOR**
## **PARK LANE CENTRE**
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
**PARK LANE CENTRE**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31st March 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|14|
|**Detailed Statement of Financial Activities**|15|to|16|
**PARK LANE CENTRE**
## **REPORT OF THE TRUSTEES for the Year Ended 31st March 2023**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 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).
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
## **Staffing**
We lost 3 staff members due to ongoing health issues. As a result of this, the staffing structure was revamped to make it more efficient. Staff have continued to undertake training and refresher courses are completed online.
Over this year there have been 5 regular volunteers, who support in the café and with customer services.
We are also committed to providing work experience opportunities and have provided 8 placements during this year.
## **Leaseholders**
One of our leaseholders has renewed their lease for a further 5 year period. The remaining leaseholders are not due to be renewed for a further 5 years.
## **Woody's Warren, Café and Playbarn**
Woody's Warren was successful in continuing to increase daily trade as well as offsetting costs with its other regular contracts, however the costs food items increased significantly, resulting in higher costs than originally budgeted.
## **Events**
We ran a number of events over the year as shown below:
- Holiday Eatwell Activities
- Christmas Event
- Pantomime
- Children's discos
- Platinum Jubilee celebrations
## **Health and Safety**
There were no reportable accidents during this financial year.
We had 2 incidents where mobility scooters have caused significant damage to doors. One resulted in the lift being out of use for a significant period of time.
We continued to overhaul the faulty heating equipment, replacing more pumps and motors that had failed.
## **Environmental**
The Centre has continued its commitment to make as little environmental impact as possible. Cardboard, paper, glass, plastic, cans, toner cartridges, batteries and light bulbs are collected for recycling.
Our Biomass Boiler and funded Solar Panelling installations help make us more environmentally sustainable through carbon neutral provision.
The 2 double electric vehicle charge points in our car park allow customers with electric vehicles to access charging and help us provide a service which will become more essential over the next few years.
Page 1
**PARK LANE CENTRE**
## **REPORT OF THE TRUSTEES for the Year Ended 31st March 2023**
## **Room Bookings**
Room bookings continued to increase with more groups and courses returning, expanding numbers of sessions and starting up.
The covid vaccination centre run by Woodside Pharmacy continued vaccinations until December at which time they transferred the provision to within the pharmacy.
## **Funding**
Park Lane Centre has worked to apply for funding to address the needs of our community.
We received grants to provide a warm space and provide food for people in fuel poverty, to provide energy saving advice and items to help people insulate their homes more effectively and keep themselves warm, run a Christmas event, provide a free pantomime for local families to attend, to provide holiday activities for families in receipt of free school meals. We set up free, accessible physical exercise sessions for members of the community and provided free exercise sessions for young people. We also ran a jubilee event which was attended by 400 people and as part of the legacy of this event created a stained glass memorial window, which was installed during the period of mourning for Her Majesty Queen Elizabeth II as well as creating an archive of information and memorabilia about her life.
## **The Future**
Park Lane Centre continues to face financial challenges during the year as rising costs including energy, food and materials impact on our budgets.
We will continue to seek funding for capital future projects.
Park Lane Centre will continue to promote itself and its services at every opportunity whilst seeking out other means of increasing income.
Budgets will be monitored to ensure that there is no wastage of resources and contracts with suppliers will be reviewed to ensure that best value is obtained in every case.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
04992631 (England and Wales)
## **Registered Charity number**
1119391
## **Registered office**
Park Lane Woodside Telford Shropshire TF7 5QZ
## **Trustees**
C A Bailey R C Evans L Herbert D Maddock K Middleton (resigned 1.8.23) J S Smith
Page 2
**PARK LANE CENTRE**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 31st March 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Company Secretary** J D Idiens
## **Independent Examiner**
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 7th November 2023 and signed on its behalf by:
C A Bailey - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARK LANE CENTRE**
## **Independent examiner's report to the trustees of Park Lane Centre ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.
Russell Ball
D E Ball & Co Limited Chartered Accountants 15 Bridge Road Wellington Telford Shropshire TF1 1EB
7th November 2023
Page 4
**PARK LANE CENTRE**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **for the Year Ended 31st March 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Support to the local community
272,927
Investment income
2
977
Other income
3,075
**Total**
276,979
**EXPENDITURE ON**
**Charitable activities**
Support to the local community
281,351
**NET INCOME/(EXPENDITURE)**
(4,372)
**Transfers between funds**
10
(1,613)
**Net movement in funds**
(5,985)
**RECONCILIATION OF FUNDS**
Total funds brought forward
129,818
**TOTAL FUNDS CARRIED FORWARD**
123,833|Restricted
funds
£
111,654
-
-
111,654
121,508
(9,854)
1,613
(8,241)
71,451
63,210|31.3.23
Total
funds
£
384,581
977
3,075
388,633
402,859
(14,226)
-
(14,226)
201,269
187,043|31.3.22
Total
funds
£
436,277
22
2,299|
|---|---|---|---|
||||438,598|
||||402,332|
||||36,266
-|
||||36,266
165,003|
||||201,269|
The notes form part of these financial statements
Page 5
## **PARK LANE CENTRE**
## **BALANCE SHEET**
## **31st March 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
7
8,554
**CURRENT ASSETS**
Debtors
8
11,271
Cash at bank and in hand
112,386
123,657
**CREDITORS**
Amounts falling due within one year
9
(8,378)
**NET CURRENT ASSETS**
115,279
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
123,833
**NET ASSETS**
123,833
**FUNDS**
10
Unrestricted funds:
General fund
Building Maintenance Life Cycle Reserve
Restricted funds:
Capital Grant - Woody's Warren Playbarn
Capital Grant - Gym
Capital Grant - Madeley Council
Grant - Holiday Activities & Eat Well
Grant - BBC Children in Need
Grant - Safer Stronger Communities
Grant - Well Being Cafe
Grant - Asda Foundation
Grant - Capacity Building
Grant - Ricoh - Community Health
Grant - Energise - Commonwealth Games
**TOTAL FUNDS**|Restricted
funds
£
44,874
-
18,336
18,336
-
18,336
63,210
63,210|31.3.23
Total
funds
£
53,428
11,271
130,722
141,993
(8,378)
133,615
187,043
187,043
93,748
30,085
123,833
38,204
4,524
2,147
234
6,593
-
-
489
8,638
1,551
830
63,210
187,043|31.3.22
Total
funds
£
68,224
7,932
138,417
146,349
(13,304)
133,045
201,269
201,269
99,733
30,085
129,818
45,366
6,220
4,293
668
8,995
2,909
3,000
-
-
-
-
71,451
201,269|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page 6
continued...
**PARK LANE CENTRE**
## **BALANCE SHEET - continued**
## **31st March 2023**
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 7th November 2023 and were signed on its behalf by:
C A Bailey - Trustee
The notes form part of these financial statements
Page 7
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st March 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Financial reporting standard 102 - reduced disclosure exemptions**
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows;
- the requirement of paragraph 3.17(d);
- the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
- the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
- the requirement of paragraph 33.7;
- • the requirement of paragraph 24(b) of IFRS 6.
## **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.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost Fixtures and fittings - 20% on cost Woody's Warren playbarn - 15% on cost Computer equipment - 25% on cost
## **Taxation**
The charity is exempt from corporation 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.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 8
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
## **2. INVESTMENT INCOME**
## **3.**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|Deposit account interest|977|22|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||31.3.23|31.3.22|
||£|£|
|Depreciation - owned assets|14,796|15,750|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **Related party disclosures**
RC Evans and K Middleton are Trustees of Park Lane Centre and Councillors for Telford & Wrekin Council. In the year ended 31 March 2022, RC Evans and K Middleton allocated £6,200 being part of their share of the Councillors' Pride Fund to Park Lane Centre with a requirement that it is used to create a community library, and organise a "free" pantomine for residents.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|Administration
Charitable activities|31.3.23
4
9
13|31.3.22
2
14|
|---|---|---|
|||16|
No employees received emoluments in excess of £60,000.
continued...
Page 9
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
|**6.**
**COMPARATIVES FOR THE STATEMENT OF**
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Support to the local community
Investment income
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Support to the local community
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**7.**
**TANGIBLE FIXED ASSETS**
Plant and
machinery
£
**COST**
At 1st April 2022 and
31st March 2023
17,523
**DEPRECIATION**
At 1st April 2022
6,803
Charge for year
2,596
At 31st March 2023
9,399
**NET BOOK VALUE**
At 31st March 2023
8,124
At 31st March 2022
10,720|**FINANCIAL ACTIVITIES**
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
358,625
77,652
436,277
22
-
22
2,299
-
2,299
360,946
77,652
438,598
296,698
105,634
402,332
64,248
(27,982)
36,266
(9,774)
9,774
-
54,474
(18,208)
36,266
75,344
89,659
165,003
129,818
71,451
201,269
Fixtures
Woody's
and
Warren
Computer
fittings
playbarn
equipment
Totals
£
£
£
£
47,718
95,500
15,816
176,557
37,459
50,135
13,936
108,333
3,871
7,162
1,167
14,796
41,330
57,297
15,103
123,129
6,388
38,203
713
53,428
10,259
45,365
1,880
68,224|Total
funds
£
436,277
22
2,299|
|---|---|---|
|||438,598|
|||402,332|
|||36,266
-|
|||36,266
165,003|
|||201,269|
continued...
Page 10
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Prepayments
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accrued expenses
**10.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.22
in funds
£
£
**Unrestricted funds**
General fund
99,733
(4,372)
Building Maintenance Life Cycle Reserve
30,085
-
129,818
(4,372)
**Restricted funds**
Capital Grant - Woody's Warren Playbarn
45,366
(7,162)
Capital Grant - Gym
6,220
(1,696)
Capital Grant - Madeley Council
4,293
(2,146)
Grant - Miscellaneous
-
(224)
Grant - Holiday Activities & Eat Well
668
(514)
Grant - BBC Children in Need
8,995
(2,402)
Grant - Safer Stronger Communities
2,909
(2,915)
Grant - Councillors Pride Fund
-
(151)
Grant - Well Being Cafe
3,000
(3,011)
Grant - Asda Foundation
-
489
Grant - Capacity Building
-
8,638
Grant - Madeley Council - Warm Space
-
(88)
Grant - National Grid Local Giving
-
9
Grant - Community Foundation - Jubilee
-
(19)
Grant - T&W - Jubilee
-
(18)
Grant - Ricoh - Community Health
-
1,551
Grant - Madeley Council - Jubilee
-
(1,025)
Grant - Energise - Commonwealth Games
-
830
71,451
(9,854)
**TOTAL FUNDS**
201,269
(14,226)|31.3.23
£
9,795
1,476
11,271
31.3.23
£
1,924
6,454
8,378
Transfers
between
funds
£
(1,613)
-
(1,613)
-
-
-
224
80
-
6
151
11
-
-
88
(9)
19
18
-
1,025
-
1,613
-|31.3.22
£
6,548
1,384
7,932
31.3.22
£
2,554
10,750
13,304
At
31.3.23
£
93,748
30,085|
|---|---|---|
|||123,833
38,204
4,524
2,147
-
234
6,593
-
-
-
489
8,638
-
-
-
-
1,551
-
830|
|||63,210|
|||187,043|
continued...
Page 11
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Capital Grant - Woody's Warren Playbarn
Capital Grant - Gym
Capital Grant - Madeley Council
Grant - Miscellaneous
Grant - Holiday Activities & Eat Well
Grant - BBC Children in Need
Grant - Safer Stronger Communities
Grant - Councillors Pride Fund
Grant - T&W - Climate Change Fund
Grant - Well Being Cafe
Grant - Keeping Woodside Warm
Grant - Asda Foundation
Grant - Ironbridge Lions
Grant - Capacity Building
Grant - Health Inequalities
Grant - Madeley Council - Warm Space
Grant - National Grid Local Giving
Grant - Parent Youth Club
Grant - Madeley Council - Christmas
Grant - Community Foundation - Jubilee
Grant - T&W - Jubilee
Grant - Ricoh - Community Health
Grant - Madeley Council - Jubilee
Grant - Energise - Commonwealth Games
**TOTAL FUNDS**|Incoming
resources
£
276,979
44,315
-
-
4,435
5,462
-
500
6,200
5,196
-
4,092
1,000
400
10,000
4,800
2,410
9,634
250
2,000
6,000
2,000
1,950
-
1,010
111,654
388,633|Resources
Movement
expended
in funds
£
£
(281,351)
(4,372)
(51,477)
(7,162)
(1,696)
(1,696)
(2,146)
(2,146)
(4,659)
(224)
(5,976)
(514)
(2,402)
(2,402)
(3,415)
(2,915)
(6,351)
(151)
(5,196)
-
(3,011)
(3,011)
(4,092)
-
(511)
489
(400)
-
(1,362)
8,638
(4,800)
-
(2,498)
(88)
(9,625)
9
(250)
-
(2,000)
-
(6,019)
(19)
(2,018)
(18)
(399)
1,551
(1,025)
(1,025)
(180)
830
(121,508)
(9,854)
(402,859)
(14,226)|
|---|---|---|
continued...
Page 12
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Building Maintenance Life Cycle Reserve
**Restricted funds**
Capital Grant - Woody's Warren Playbarn
Capital Grant - Gym
Capital Grant - Madeley Council
Grant - Miscellaneous
Grant - Holiday Activities & Eat Well
Grant - BBC Children in Need
Grant - Woody's Warren Covid 19 Restart
Grant - Safer Stronger Communities
Grant - Councillors Pride Fund
Grant - T&W - Climate Change Fund
Grant - Breakfast provision
Brook Park Cafe
Grant - Well Being Cafe
**TOTAL FUNDS**|At 1.4.21
£
45,259
30,085
75,344
52,528
7,916
6,439
825
153
8,995
12,803
-
-
-
-
-
-
89,659
165,003|Net
movement
in funds
£
64,248
-
64,248
(7,162)
(1,696)
(2,146)
(916)
515
-
(12,803)
2,909
(606)
(625)
(424)
(8,028)
3,000
(27,982)
36,266|Transfers
between
funds
£
(9,774)
-
(9,774)
-
-
-
91
-
-
-
-
606
625
424
8,028
-
9,774
-|At
31.3.22
£
99,733
30,085|
|---|---|---|---|---|
|||||129,818
45,366
6,220
4,293
-
668
8,995
-
2,909
-
-
-
-
3,000|
|||||71,451|
|||||201,269|
continued...
Page 13
**PARK LANE CENTRE**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31st March 2023**
## **10. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Capital Grant - Woody's Warren Playbarn
Capital Grant - Gym
Capital Grant - Madeley Council
Grant - Miscellaneous
Grant - Holiday Activities & Eat Well
Grant - Woody's Warren Covid 19 Restart
Grant - Safer Stronger Communities
Grant - Councillors Pride Fund
Grant - Twemlows Community
Grant - T&W - Climate Change Fund
Grant - Breakfast provision
Brook Park Cafe
Coronavirus Job Retention Scheme
Grant - Well Being Cafe
**TOTAL FUNDS**|Incoming
resources
£
360,946
28,163
-
-
-
5,372
-
3,000
2,086
3,228
6,500
3,899
8,799
13,605
3,000
77,652
438,598|Resources
Movement
expended
in funds
£
£
(296,698)
64,248
(35,325)
(7,162)
(1,696)
(1,696)
(2,146)
(2,146)
(916)
(916)
(4,857)
515
(12,803)
(12,803)
(91)
2,909
(2,692)
(606)
(3,228)
-
(7,125)
(625)
(4,323)
(424)
(16,827)
(8,028)
(13,605)
-
-
3,000
(105,634)
(27,982)
(402,332)
36,266|
|---|---|---|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31st March 2023.
## **12. DESIGNATED FUNDS**
## **Building Maintenance Life Cycle Reserve**
This reserve is maintained as a sinking fund to ensure adequate financial resources are available for large cyclical repair and maintenance projects that will be required to maintain the fabric of the building.
## **13. RESTRICTED FUNDS**
## **Woody's Warren Playbarn**
This represents a grant provided by Telford & Wrekin Council to assist the purchase of a bespoke soft play area within the Centre. The depreciation charge relating to this fixed asset is allocated against this restricted fund.
## **Gym**
This year saw one of our longest leaseholders retiring and selling his business. After over 30 Years on the estate he wished to give something back to the community he has served. In this case he agreed to pay for Park Lane Centre to have an outdoor gym that would be accessible to members of the public 24/7. The depreciation charge relating to this fixed asset is allocated against this restricted fund.
## **Madeley Town Council**
This funding was provided as part of the Telford and Wrekin at 50 Fund. Park Lane Centre were provided this grant to purchase new booth seating for our cafe area ready for the new Woodside youth project. The depreciation charge relating to this fixed asset is allocated against this restricted fund.
Page 14
**PARK LANE CENTRE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2023**
||||31.3.23|31.3.22|
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|**INCOME AND ENDOWMENTS**|||||
|**Investment income**|||||
|Deposit account interest|977|-|977|22|
|**Charitable activities**|||||
|Rental income|272,927|-|272,927|319,087|
|Woody's Warren income|-|44,315|44,315|28,163|
|Brook Park cafe|-|-|-|8,799|
|Madeley Town Council|-|-|-|2,764|
|Coronavirus Job Retention Scheme|-|-|-|13,605|
|Grants received - note 11|-|67,339|67,339|29,059|
|TWC Covid 19 business support grant|-|-|-|34,800|
||272,927|111,654|384,581|436,277|
|**Other income**|||||
|Telephone and photocopier recharges|2,211|-|2,211|242|
|Other income|864|-|864|2,057|
||3,075|-|3,075|2,299|
|**Total incoming resources**|276,979|111,654|388,633|438,598|
|**EXPENDITURE**|||||
|**Charitable activities**|||||
|Wages|103,113|18,852|121,965|148,772|
|Social security|947|-|947|2,054|
|Pensions|2,298|-|2,298|2,589|
|Rates and water|9,481|-|9,481|6,309|
|Insurance|12,026|-|12,026|11,136|
|Light and heat|24,130|-|24,130|47,397|
|Telephone|5,266|-|5,266|7,405|
|Postage and stationery|1,113|-|1,113|1,309|
|Advertising|334|-|334|1,106|
|Sundries|2,112|-|2,112|4,012|
|Travelling expenses|199|-|199|728|
|Computer expenses|5,250|-|5,250|5,368|
|Training costs|-|-|-|120|
|Photocopier and fax expenses|928|-|928|655|
|Property repairs and maintenance|40,542|-|40,542|45,536|
|Cleaning and waste disposal|13,525|-|13,525|13,493|
|Safety and security costs|9,751|-|9,751|5,266|
|Park Lane Centre events expenditure|231|-|231|264|
|Bad debt write off|375|-|375|140|
|Consultancy fees|6,350|-|6,350|4,009|
|Carried forward|237,971|18,852|256,823|307,668|
This page does not form part of the statutory financial statements
Page 15
**PARK LANE CENTRE**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31st March 2023**
||||31.3.23|31.3.22|
|---|---|---|---|---|
||Unrestricted|Restricted|Total|Total|
||funds|funds|funds|funds|
||£|£|£|£|
|**Charitable activities**|||||
|Brought forward|237,971|18,852|256,823|307,668|
|Woody's Warren expenses|-|25,901|25,901|15,471|
|Brook Park cafe|-|-|-|6,947|
|Grant income expenditure|-|65,751|65,751|24,815|
|Biomass boiler|35,267|-|35,267|27,622|
||273,238|110,504|383,742|382,523|
|**Support costs**|||||
|**Management**|||||
|Depreciation of tangible assets|3,792|11,004|14,796|15,750|
|**Finance**|||||
|Bank charges|118|-|118|149|
|**Governance costs**|||||
|Accountancy fees|3,600|-|3,600|3,473|
|Licences and subscriptions|603|-|603|437|
||4,203|-|4,203|3,910|
|Total resources expended|281,351|121,508|402,859|402,332|
|**Net income/(expenditure)**|(4,372)|(9,854)|(14,226)|36,266|
This page does not form part of the statutory financial statements
Page 16