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2023-03-31-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 2023

FOR

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

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

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
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 Activities 15 to 16

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

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.

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.

We re-opened GAPA Nursery at the start of January 2023 and welcomed a very positive start.

The Directors and trustees of the Charity continue to have confidence in the managers, 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.

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 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 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 31 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).

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

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 £15,000 to meet contractual liabilities should the playground have to close.

At 31st March 2023 the company is holding £28,130 in its reserve account.

Breakdown of Reserve

£
Redundancy pay for four employees 10,000
Legal and accountants' fees 5,000

Total		 15,000

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)

Page 3

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Registered Charity number 1130827

Registered office

Riseholme Road GAINSBOROUGH Lincolnshire DN21 1NL

Trustees

Mrs K E Farmer

Independent Examiner

Simon Smith FCA FCCA Rigel Wolf Ltd Orion House 28A Spital Terrace GAINSBOROUGH Lincolnshire 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 ............................................. and signed on its behalf by:

................................................................. Mrs K E Farmer - Trustee

Page 4

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

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 Orion House 28A Spital Terrace GAINSBOROUGH Lincolnshire DN21 2HQ

Date: .............................................

Page 5

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
77,284
Other trading activities
2
29,245
Investment income
3
2,423
Total
108,952
EXPENDITURE ON
Raising funds
19,756
Charitable activities
Playground
90,236
Other
-
Total
109,992
NET INCOME/(EXPENDITURE)
(1,040)
RECONCILIATION OF FUNDS
Total funds brought forward
40,569
TOTAL FUNDS CARRIED FORWARD
39,529		 Restricted
fund
£
-
-
-
-
-
5,921
-
5,921
(5,921)
225,383
219,462		 31.3.23
Total
funds
£
77,284
29,245
2,423
108,952
19,756
96,157
-
115,913
(6,961)
265,952
258,991		 31.3.22
Total
funds
£
55,504
21,811
609
77,924
7,417
6,552
73,947
87,916
(9,992)
275,944
265,952

The notes form part of these financial statements

Page 6

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

BALANCE SHEET 31 MARCH 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
8
9,542
CURRENT ASSETS
Stocks
9
65
Debtors
10
797
Cash at bank and in hand
29,725
30,587
CREDITORS
Amounts falling due within one year
11
(600)
NET CURRENT ASSETS
29,987
TOTAL ASSETS LESS CURRENT
LIABILITIES
39,529
NET ASSETS
39,529
FUNDS
12
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
219,462
-
-
-
-
-
-
219,462
219,462		 31.3.23
Total
funds
£
229,004
65
797
29,725
30,587
(600)
29,987
258,991
258,991
39,529
219,462
258,991		 31.3.22
Total
funds
£
238,093
75
2,712
26,297
29,084
(1,225)
27,859
265,952
265,952
40,569
225,383
265,952

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 7

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

BALANCE SHEET - continued 31 MARCH 2023

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 ............................................. and were signed on its behalf by:

............................................. Mrs K E Farmer - Trustee

The notes form part of these financial statements

Page 8

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 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.

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

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.

Page 9

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. OTHER TRADING ACTIVITIES

Fundraising events
Food sales
Trips and other activities
Income - Children's Links
3.
INVESTMENT INCOME
Hire of building
Deposit account interest
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.3.23
£
251
9,639
13,516
5,839
29,245
31.3.23
£
2,295
128
2,423
31.3.23
£
9,089		 31.3.22
£
182
8,145
435
13,049
21,811
31.3.22
£
605
4
609
31.3.22
£
10,150

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

6. STAFF COSTS

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

Administration
Support		 31.3.23
1
4
5		 31.3.22
1
3
4

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

Page 10

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
55,504
Other trading activities
21,811
Investment income
609
Total
77,924
EXPENDITURE ON
Raising funds
7,417
Charitable activities
Playground
632
Other
73,947
Total
81,996
NET INCOME/(EXPENDITURE)
(4,072)
RECONCILIATION OF FUNDS
Total funds brought forward
44,641
TOTAL FUNDS CARRIED FORWARD
40,569
8.
TANGIBLE FIXED ASSETS
Fixtures
Long
Office
and
leasehold
equipment
fittings
£
£
£
COST
At 1 April 2022 and
31 March 2023
295,997
8,039
34,791
DEPRECIATION
At 1 April 2022
70,614
7,366
27,982
Charge for year
5,921
165
1,699
At 31 March 2023
76,535
7,531
29,681
NET BOOK VALUE
At 31 March 2023
219,462
508
5,110
At 31 March 2022
225,383
673
6,809		 Restricted
fund
£
-
-
-
-
-
5,920
-
5,920
(5,920)
231,303
225,383
Play area
equipment
£
49,772
44,544
1,304
45,848
3,924
5,228		 Total
funds
£
55,504
21,811
609
77,924
7,417
6,552
73,947
87,916
(9,992)
275,944
265,952
Totals
£
388,599
150,506
9,089
159,595
229,004
238,093

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

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.

Page 11

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

8. TANGIBLE FIXED ASSETS - continued

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
Trade debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Accruals and deferred income
12.
MOVEMENT IN FUNDS
At 1.4.22
£
Unrestricted funds
General fund
40,569
Restricted funds
Property
225,383
TOTAL FUNDS
265,952
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
108,952
Restricted funds
Property
-
TOTAL FUNDS
108,952		 31.3.23
31.3.22
£
£
65
75
31.3.23
31.3.22
£
£
797
2,712
31.3.23
31.3.22
£
£
-
624
600
601
600
1,225
Net
movement
At
in funds
31.3.23
£
£
(1,040)
39,529
(5,921)
219,462
(6,961)
258,991
Resources
Movement
expended
in funds
£
£
(109,992)
(1,040)
(5,921)
(5,921)
(115,913)
(6,961)

Page 12

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.21 in funds 31.3.22
£ £ £
Unrestricted funds
General fund 44,641 (4,072) 40,569
Restricted funds
Property 231,303 (5,920) 225,383
TOTAL FUNDS 275,944 (9,992) 265,952
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 77,924 (81,996) (4,072)
Restricted funds
Property - (5,920) (5,920)
TOTAL FUNDS 77,924 (87,916) (9,992)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement At
At 1.4.21 in funds 31.3.23
£ £ £
Unrestricted funds
General fund 44,641 (5,112) 39,529
Restricted funds
Property 231,303 (11,841) 219,462
TOTAL FUNDS 275,944 (16,953) 258,991

Page 13

continued...

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

12. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Property
TOTAL FUNDS		 Incoming
resources
£
186,876
-
186,876		 Resources
Movement
expended
in funds
£
£
(191,988)
(5,112)
(11,841)
(11,841)
(203,829)
(16,953)

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 2023.

Page 14

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

31.3.23
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
3,016
Grant - WLDC
15,500
Grant - Children in Need
51,096
Grant - Lincs Co-op
592
Grant - WLDC Match Funding
500
Grant - Other
-
Grant - Lincs County Council
6,580
77,284
Other trading activities
Fundraising events
251
Food sales
9,639
Trips and other activities
13,516
Income - Children's Links
5,839
29,245
Investment income
Hire of building
2,295
Deposit account interest
128
2,423
Total incoming resources
108,952
EXPENDITURE
Other trading activities
Food purchases
7,020
Activity costs
12,736
19,756
Support costs
Management
Support staff wages
43,795
Pensions
656
Rates and water
1,625
Insurance
3,812
Light and heat
3,623
Telephone
671
Postage and stationery
527
Advertising
-
Irrecoverable VAT
-
Fines and penalties
1,500
Carried forward
56,209		 31.3.22
£
1,020
12,000
40,184
-
-
2,300
-
55,504
182
8,145
435
13,049
21,811
605
4
609
77,924
5,778
1,639
7,417
34,341
600
1,939
4,076
2,081
368
100
171
916
-
44,592

This page does not form part of the statutory financial statements

Page 15

GAINSBOROUGH ADVENTURE PLAYGROUND LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

31.3.23
£
Management
Brought forward
56,209
Property repairs
9,015
Maintenance charges
620
Cleaning
119
Subscriptions
1,603
Training
452
Sundry costs
911
Long leasehold
5,921
Plant and machinery
165
Fixtures and fittings
1,699
Computer equipment
1,304
78,018
Finance
Administration wages
17,412
Bank charges
92
17,504
Governance costs
Accountancy fees
600
Professional fees
35
635
Total resources expended
115,913
Net expenditure
(6,961)		 31.3.22
£
44,592
2,401
1,007
540
612
144
3,350
5,920
224
2,266
1,740
62,796
17,097
6
17,103
600
-
600
87,916
(9,992)

This page does not form part of the statutory financial statements

Page 16