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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 06442668 (England and Wales) REGISTERED CHARITY NUMBER: 1130827

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

Rigel Wolf Ltd Chartered Accountants Orion House 28A Spital Terrace GAINSBOROUGH Lincolnshire DN21 2HQ

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Acting Chair's Report 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 14
Detailed Statement of Financial 15 to 16
Activities

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

ACTING CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2021

The year has been a positive and exciting one for GAPA with continued support from parents, staff, community and most of all the children who attend GAPA during a very difficult year due to the Corona Virus pandemic. The variety and quality of open access play provision continues, even though at times we have been in lockdown we have re-opened as soon as possible with all the correct PPE procedures in place.

Special events, routine after school, holiday play schemes are all still delivered at a high standard, seeking at all times to meet the needs of the children in the community. This is only achieved because the staff, volunteers, directors and trustees remain focussed on, open to and listen to the community served.

The Directors and trustees of the Charity continue to have confidence in the manager, staff and volunteers of GAPA to deliver its activities in accordance with its charitable objectives and in the best interests of the children. Their success in this is recognised by the positive feedback from the children, families and other agencies and organisations with whom we work.

GAPA finances have taken a hit over the last year with our premises being open & shut due to the ongoing pandemic. Everyone works hard to raise funds and the achievements continue to be outstanding. Many local organisations recognise the value of GAPA, get involved and their contributions are always welcome. Despite these efforts GAPA remains dependent on a degree of public funding subsidy. The annual uncertainty over these elements of funding remain critical to planning and security for the service. We should continue to campaign for realistic long term funding strategies with our public sector partners. We would like to thank West Lindsey District Council and Lincolnshire County Council for their continued support over the last year.

We welcomed Giggles Nursery, part of Children’s Links onto site April 2020 and have enjoyed working together with them.

We are all looking forward to the current

year. Karen Farmer

Page 1

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

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 31 March 2021. 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).

OBJECTIVES AND ACTIVITIES Objectives and aims

The objectives of the Company are to relieve young people and their families’ resident in Gainsborough and the surrounding area who are in need, by providing services or facilities calculated to relieve the needs of such persons.

To promote for the benefit of the inhabitants of Gainsborough 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 for 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 develop the capacity and skills of the members of the socially and economically disadvantaged community of Gainsborough and the surrounding area in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

Significant activities

In furtherance of the objects of the Company and without prejudice to the generality therefore the committee may,

Provide, maintain and equip a playground or playgrounds affording opportunities for adventure and enterprise.

Assist the provision, maintenance and equipment of such playground(s) as aforesaid, and raise and borrow money for these purposes.

Employ staff to assist the Company in managing the play areas established.

Make and maintain contact with and enlist general support from other persons and organisations who are interested in the design, establishment, development or management of playgrounds.

Page 2

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

Reserves policy

The Management Committee will consider the level of reserves that is prudent for the Gainsborough Adventure Playground Limited to have. Consideration will be given to redundancy, liabilities, solicitor's and accountants' fees and any other significant factors that should be taken into account if the playground was to close or experience fluctuations/ interruptions in income and expenditure.

Reserve Needs

The Management Committee has reviewed the playground's need for reserves in line with the guidance issued by the Charity Commission and have decided to set the amount at £30,000 to meet contractual liabilities should the playground have to close.

At 31st March 2021 the company is holding £30,326 in its reserve account.

Breakdown of Reserve

----- Start of picture text -----
£
Redundancy pay for four employees 25,000
Legal and accountants' fees
5,000
Total 30,000
----- End of picture text -----

Monitoring and Review of Reserves Policy

The Management Committee will consider current costs and examine the level of

reserves each year. The Management Committee and the playground manager will

review this reserve policy each year.

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.

Management

A Management Committee consisting of not more than 26 members shall be elected annually at the Annual General Meeting.

The Management Committee shall be responsible for the Annual General Meeting and between General Meetings shall direct and manage the affairs of the Company, and shall be deemed to have delegated to them all necessary authority for the purpose of achieving the objectives of the Company.

The Management Committee shall have power to appoint trustees to hold any necessary land on behalf of the Company. Such trustees to be answerable to the Management Committee.

The Management Committee shall elect the following honorary officers at the first meeting immediately after the Annual General Meeting:-

Chairperson Vice Chairperson Secretary Treasurer Such other officers as may be from time to time decided.

A quorum of the Management Committee shall be four. The Management Committee will meet on a bi-monthly basis.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06442668 (England and Wales)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Registered Charity number 1130827

Registered office

Riseholme Road GAINSBOROUGH Lincolnshir e DN21 1NL

Trustees

Mrs C A Vessey (resigned 1.10.20) Mrs M Duffet (resigned 1.10.20) Mrs A Fletcher (resigned 1.10.20) Miss S D Swinton (resigned 31.12.20) Mrs L Simmonds (appointed 8.10.20) Mrs K E Farmer (appointed 2.10.20) Mr S A Brennan (appointed 29.10.20) (resigned 31.12.20) Ms L Dagg (appointed 2.10.20) Ms J Wright (appointed 1.12.20)

Company Secretary

Miss S L Levesque-Payne

Independent Examiner

Simon Smith FCA FCCA Rigel Wolf Ltd Chartered Accountants Orion House 28A Spital Terrace GAINSBOROUGH Lincolnshir e DN21 2HQ

COMMENCEMENT OF ACTIVITIES

The company commenced to trade on 1 April 2010, having taken over the assets and liabilities of the former Gainsborough Adventure Playground Association.

Approved by order of the board of trustees on 21 December 2021 and signed on its behalf by:

Mrs K E Farmer - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GAINSBOROUGH ADVENTURE LIMITED

Independent examiner's report to the trustees of Gainsborough Adventure Playground Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

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

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.

Simon Smith FCA FCCA Rigel Wolf Ltd Chartered Accountants Orion House 28A Spital Terrace GAINSBOROUGH Lincolnshir e DN21 2HQ

21 December 2021

Page 5

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
71,937
Other trading activities
2
13,772
Investment income
3
71
Total
85,780
EXPENDITURE ON
Raising funds
4,017
Charitable activities
Playground
101,147
Total
105,16
4
NET INCOME/(EXPENDITURE)
(19,384)
RECONCILIATION OF FUNDS
Total funds brought forward
64,025
TOTAL FUNDS CARRIED FORWARD
44,641		 Restricted
fund
£
-
-
-
-
-
5,919
5,91
9
(5,919)
237,222
231,30
3		 31.3.21
Total
fund
s
£
71,937
13,772
71
85,780
4,017
107,066
111,08
3
(25,303)
301,247
275,94
4		 31.3.2
0
Total
fund
s
£
84,855
13,764
22,855
121,474
8,379
139,189
147,56
8
(26,094)
327,341
301,24
7

Page 6

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

The notes form part of these financial statements

Page 7

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Notes
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Stocks
9
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
£
13,386
100
145
33,170
33,415
(2,160)
31,255
44,641
44,641		 Restricted
funds
£
231,303
-
-
-
-
-
-
231,303
231,30
3		 31.3.21
Total
fund
£
244,689
100
145
33,170
33,415
(2,160)
31,255
275,944
275,94
4
44,64
1
231,30
3
275,94
4		 31.3.20
Total
funds
funds
£
249,507
119
4,369
50,348
54,836
(3,096)
51,740
301,247
301,24
7
64,025
237,22
2
301,24
7
12

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial

continued

Page 7

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

BALANCE SHEET - continued 31 MARCH 2021

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 21 December 2021 and were signed on its behalf by:

Mrs K E Farmer - Trustee

Page

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED The notes form part of these financial statements

Page

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

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.

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.

Long leasehold - 2% on cost - Office equipment 25% on reducing balance - Fixtures and fittings 25% on reducing balance - Play area equipment 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

continued

Page 9

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED 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 10

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

2 OTHER TRADING . ACTIVITIES

Fundraising events
Food sales
Trips and other activities
Income - Children's Links
Group fees
3
.
INVESTMENT
INCOME

Hire of building
Deposit account interest		 31.3.21
31.3.20
£
£
77
2,657
5,181
8,946
2,531
1,403
5,983
-
-
758
13,772
13,764
31.3.21
31.3.20
£
£
50
22,734
21
121
71
22,855
Net income/(expenditure) is stated after charging/(crediting):
31.3.21 31.3.20
£ £
Depreciation - owned assets 10,375 9,999

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees’ expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

6 STAFF COSTS .

The average monthly number of employees during the year was as follows:

Administration
Support		 31.3.21
1
3
4		 31.3.2
0
1
5
6

No employees received emoluments in excess of £60,000.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Playground
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
8
.
TANGIBLE FIXED ASSETS
Long
Ofce
Fixtures
and
leasehold
equipment
fttings
£
£
£
COST
At 1 April 2020
295,997
8,039
Additions
-
-
At 31 March 2021
295,997
8,039
DEPRECIATION
At 1 April 2020
58,775
6,847
Charge for year
5,919
295
At 31 March 2021
64,694
7,142
NET BOOK VALUE
At 31 March 2021
231,30
3
897		 Unrestricted
funds
Restricte
d
fund
£
£
84,855
-
13,764
-
22,855
-
121,474
-
8,379
-
133,269
5,920
141,64
8
5,92
0
(20,174)
(5,920)
84,199
243,142
64,025
237,22
2
Play area
equipment
£
28,103
47,349
5,557
-
33,660
47,349
23,072
41,287
2,644
1,517
25,716
42,804
7,944
4,545		 Total
fund
s
£
84,855
13,764
22,855
121,474
8,379
139,189
147,56
8
(26,094)
327,341
301,24
7
Totals
£
379,488
5,557
385,045
129,981
10,375
140,356
244,68
9
At 31 March 2020 237,22
2
1,192
5,031
6,062
249,50
7

Property assets of the Company are included at the cost of acquisition less accumulated depreciation.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

8 TANGIBLE FIXED ASSETS - . continued

They principally comprise the main operating base in purpose built premises on a leasehold site, subject to restrictions of its use to the current purpose.

Therefore, the property should not be viewed as an asset which could be liquidated in sale or used as security for borrowing.

9 STOCKS

.

Stocks
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
Prepayments and accrued income
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
12.
MOVEMENT IN
FUNDS
At 1.4.20
£
Unrestricted funds
Restricted funds
Property
237,222
TOTAL FUNDS
301,24
7
General fund
64,025		 31.3.21
£
100
31.3.21
£
145
31.3.21
£
-
1,591
-
569
2,160
Net
movement
in funds
31.3.21
£
(5,919)
(19,384)		 31.3.20
£
119
31.3.20
£
4,369
31.3.20
£
857
1,469
59
711
3,096
At
£
231,303
275,94
4
44,641
(25,303)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
£
Unrestricted funds
General fund
85,780
Restricted funds
Property
-
TOTAL FUNDS
85,780
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
84,199
Restricted funds
Property
243,142
TOTAL FUNDS
327,34
1		 Resources
Movement resources
expended
in funds
£
£
(105,164)
(19,384)
(5,919)
(5,919)		 Resources
Movement resources
expended
in funds
£
£
(105,164)
(19,384)
(5,919)
(5,919)
(111,083) (25,303)
Net
movement
in funds
31.3.20
£
(20,174)
(5,920)		 At
£
64,025
237,222
301,24
7
(26,094)

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Moveme
resources expended nt
in funds
£ £ £
Unrestricted
General fund 121,474 (141,648) (20,174)
funds
Property - (5,920) (5,920)

Restricted

funds

TOTAL FUNDS 1147.5681 126,0941

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

12. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

At 1.4.19
£
Unrestricted funds
Restricted funds
Property
243,142
TOTAL FUNDS
327,34
1
General fund
84,199		 Net
movement
At
in funds
31.3.21
£
£
(11,839)
231,303
(51,397)
275,94
4
(39,558)
44,641

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
£
Unrestricted funds
General fund
207,254
Restricted funds
Property
-
TOTAL FUNDS
207,25
4		 Resources
Movement resources
expended
in funds
£
£
(246,812)
(39,558)
(11,839)
(11,839)
(258,651)
(51,397)

As detailed in note 7 the property assets of the Company are considered to be subject to restrictions of their use other to their current purpose.

The trustees therefore consider that the net value of these property assets should be designated as a restricted fund. This has therefore been shown as a separate item in the financial statements.

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 14

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grant - Eden Training
Grant - WLDC
Grant - Bags of Change Tesco
Grant - Lincolnshire Playing Fields
Association
Grant - Children in Need
Grant - High Sherif's Fund
Grant - Garfeld Weston Foundation
Grant - COVID and Furlough
Grant - WLDC Match Funding
Other trading activities
Fundraising events
Food sales
Trips and other activities
Income - Children's Links
Group fees
Investment income
Hire of building
Deposit account interest
Total incoming resources
EXPENDITURE
Other trading activities
Food purchases
Activity costs
Fundraising expenses
Support
costs
Manageme
nt
Support staf wages
Pensions
Rates and water
Insurance
Carried forward		 31.3.2
1
448
500
25,000
1,166
490
37,112
-
-
7,221
-
71,937
77
5,181
2,531
5,983
-
13,772
50
21
71
85,780
2,850
1,167
-
4,017
45,087
879
1,774
3,916
51,656		 31.3.2
0
2,259
-
15,000
-
-
37,156
3,500
26,230
-
710
84,855
2,657
8,946
1,403
-
758
13,764
22,734
121
22,855
121,474
5,004
3,061
314
8,379
44,154
590
1,803
3,830
50,377

This page does not form part of the statutory financial

Page 15

Management
Brought forward
Light and heat
Telephone
Postage and stationery
Advertising
Board management costs
Irrecoverable VAT
Property repairs
Maintenance charges
Cleaning
Subscriptions
Uniforms
Training
Mileage and travel
Sundry costs
Long leasehold
Plant and machinery
Fixtures and fttings
Computer equipment
Finance
Governance costs
Total resources expended
Net expenditure
Administration wages
Accountancy fees
Professional fees		 51,656
1,674
431
698
46
-
2,192
7,787
5,246
609
1,247
268
503
334
1,973
5,919
295
2,644
1,517
85,039
570
111,083
(25,303
)
21,457
570
-		 50,377
1,940
431
917
-
1,272
-
34,062
1,104
1,208
2,919
-
701
415
728
5,920
393
1,669
2,017
106,073
638
147,568
(26,094)
32,478
570
68