# **PAPA's Park Limited Company Limited by Guarantee**
**Company registered in England and Wales Registered number 06933866**
**Charity registered in England and Wales Registered number 1133711**
**Financial Statements to 30th June 2022**
**PAPA's Park Limited**
## **Contents**
**----- Start of picture text -----**
Page
Legal and administrative information 1
Trustees' report 2 - 4
Independent examiner’s report 5
Statement of financial activities 6
Balance sheet 7
Notes to the accounts 8 -15
**----- End of picture text -----**
**PAPA's Park Limited**
## **Legal and administrative information**
**Trustees** Mark Dyer Jacqueline Dyer Laura Harding Sarah Hackney Dyfed price Vaila McClure **Company Secretary** Laura Harding **Charity number** 1133711 **Company number** 06933866 **Registered office** 10-17 Pulross Road London SW9 8AF **Independent Examiner** Kathleen Moss ACMA, CGMA Kathleen Moss Limited 48 Lawn Terrace London SE3 9LP **Bankers** HSBC 512 Brixton Road London SW9 8ER
1
**PAPA's Park Limited**
## **Trustees' Report**
## **For the year ended 30th June 2022**
The Trustees, who are directors for companies act purposes present their annual directors' report and independently examined accounts for the year ended 30th June 2022.
This is a directors' report as required by s417 of the Companies Act 2006. The directors confirm the financial statements comply with the current statutory requirements and the requirements of the memorandum and articles of association.
## **Directors and trustees**
The directors for the charitable company are its trustees for the purposes of charity law. The directors serving in the year are:
Dyfed price Joint Chair Jacqueline Dyer Laura Harding Secretary Vaila McClure Joint Chair Mark Dyer Sarah Hackney
## **Objectives and Activities**
Objects: To promote the benefit of the inhabitants of, and persons employed in, Pulross Road and the surrounding areas and the neighbourhood thereof without distinction of race, gender, or political religious or other opinions by associating the local authorities and/or voluntary organisations and inhabitants in a common effort to advance education and to provide facilities in the interests of social welfare for play, recreation, sport and other leisure occupations, with the object of improving the conditions of life for said inhabitants, and particularly those who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances.
The basic service is to provide a publicly accessible sports pitch, playground and planted community garden for the benefit of the local community; open access and free to use. The playground has a young children’s play section, an age 7+ children’s play section and a multi-sports all-weather pitch. The grounds include a hall which is hired out at a low cost to provide a community space for children’s parties, church groups and any other local group to meet. A cafe on site provides local jobs and reasonably priced food and drink for local people and playground users.
The trustees have had regard to the Charity Commission guidance on public benefit.
Contribution made by volunteers: All Trustees live locally and give their time voluntarily and receive no remuneration or other benefits. A pool of other committee members and other volunteers help with a variety of administrative, fundraising and physical tasks to enable the park to function effectively.
## **Trustee selection**
Trustees are elected by members attending the Annual General Meeting in May of each year.
2
**PAPA's Park Limited**
## **Achievements and Performance**
The playground’s continuing operation represents a great public benefit to the community. Covid restrictions permitting, the park has been open to the general public from morning until dusk every day of the year. It is used by young people from babies through to teenagers, and provides a free, safe, open access space to play, exercise, and enjoy the garden. It also provides a space for parents from each strand of Brixton’s diverse communities to meet and build friendships. Community fun days with stalls and free activities have been somewhat curtailed since the pandemic however wherever possible smaller scale activities have been happening. The following activities have also continued: the hall has been used by local churches, community groups and children’s clubs, it is rented out at a moderate cost to provide a useful community amenity; the popular local branch of GoodGym uses the park as a base for their fitness and volunteering scheme; Football coaching, drumming classes and yoga have all taken place during the year along with community planting days. As confidence among the community has increased more activities are planned for the following financial year.
Over the last year, the main achievement has been to continue to maintain the park as a viable entity and ensure financial stability.
Significant work has continued on the Hall and Café redevelopment. This has resulted in redesigning the proposed building to deliver value for money, greater fuel efficiency, and a lower environmental impact.
Funding from Our Space has been achieved to increase biodiversity and encourage pollinators has improved the planting and physical environment in the park.
Other funds to support the Hall redevelopment have been received from Arnold Clark Community Fund and Derwent London.
The negotiation of a new, longer lease has continued with LBL and it is hoped this will be finalised in the next financial year.
## **Financial Review**
Despite continuing challenges, the charity remains solvent with funds to continue to operate in the medium term.
The general policy is that the charity should hold a fund of no less than £4,000 to allow for a float for running and emergency costs. As there are no paid staff employed no reserve is required for staff.
At 30th June 2022 the charity had reserves of £52,507, of which £3,141 was restricted.
The unrestricted reserves of £49,366 were split between general funds of £27,366 and funds designated by trustees of £22,000:
Designated funds: £16,000: funds held for repairs and refurbishment of hall.
£6,000: funds held for maintenance of new sports pitch.
## **Principal sources of funds**
Hall and Café rental, and Sports Pitch Hire form the main income streams which are improving following the pandemic which had a significant negative impact. Local fundraising during events and through text to donate continue to provide additional money.
The charity has no significant or long term investments.
## **Principal risks facing the charity**
Continuing pressure on income due to the poor state of the ageing building. Funds have focussed on the Covid pandemic and the cost of living crisis meaning there are fewer opportunities available for other areas and where funds are open the landscape is much more competitive.
3
PAPA'S Park Umltod
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## **Independent Examiner's Report**
## **To the Trustees of PAPA's Park Ltd**
## **Charity no: 1133711, Company no: 06933866**
I report to the trustees on my examination of the financial statements of PAPA's Park Ltd for the year ended 30th June 2022 which comprise the Statement of Financial Activities, the Balance Sheet and associated notes.
## **Respective responsibilities of Trustees and examiner**
As the charity 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 company'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 that in any material respect:
- accounting records were not kept in respect of the company as required by section 386 of the
- 1 2006 Act; or
- 2 the accounts do not accord with those records; or
- the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
- 3 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
the 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 4 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelance (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.
## **Kathleen Moss ACMA, CGMA**
**Kathleen Moss Limited** 19/03/2023
48 Lawn Terrace London SE3 9LP
5
**PAPA's Park Limited**
## **Statement of Financial Activities (including Income and Expenditure Account) For the year ended 30th June 2022**
|**Income from:**
**Note**
Donations
**3**
Charitable activities
**4**
Interest received
**5**
Other
**Total income**
**Expenditure on:**
**6**
Raising funds
Charitable activities
**Total expenditure**
**Net income/**
**(expenditure) for the**
**year**
**7**
**Reconciliation of funds**
Total funds brought
forward
Transfer between funds
**Total funds carried forward**|**Unrestricted** **Restricted Total Funds** **_Unrestricted Restricted Total Funds_**
**Funds**
**Funds**
**2022**
**_Funds_**
**_Funds_**
**_2021_**
**£**
**£**
**£**
**_£_**
**_£_**
**_£_**
4,324
-
4,324
_£8,835_
_-_
_8,835_
16,016
7,459
23,475
_19,252_
_-_
_19,252_
9
-
9
_4_
_-_
_4_|
|---|---|
||**20,349**
**7,459**
**27,808**
**_28,091_**
**_-_**
**_28,091_**|
||18
-
18
478
-
_478_
13,735
4,318
18,053
_20,674_
_1,022_
_21,696_|
||**13,753**
**4,318**
**18,071**
**_21,152_**
**_1,022_**
**_22,174_**|
||6,596
3,141
9,737
_6,939_
_1,022)_
_(_
_5,917_
42,770
-
42,770
_35,831_
_1,022_
_36,853_
-
-
-
_-_
_-_
-|
||**£49,366**
**£ 3,141**
**£52,507**
**_£42,770_**
**_-_**
**_£42,770_**|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other
The accompanying Notes to the Accounts form part of these financial statements. Movements in funds are disclosed in Note 11.
6
PAPA'S Park Limitod
Bal•n¢• Sh••t
As at 30th Jun• 2022
2021
2021
Current 888ets
Debtors
Cash at bank and in hand
61
53,146
61
44,109
53,207
44,170
Crothlors: Amount falllng
due wtihin one year
( 1,400)
Nel current a88èts
52,507
42, 770
Totsl as80ts letss current Ilabllltles
51507
42,TlO
Ngt assgls
10
£51507
£41nO
Funds
Rostrictsd Funds
Unrestrlcled Funds
Designated Funds
General Fund
11
3.141
22.1
27.366
22,000
20,770
Totsl fund•
£51507
£417TO
The charity is entiued to Ihe exemplSon from fhe audlt requlrement ntaIned in s477 of
the Companlos Act 2006. for the yoar ende(130 June 2022.
The members h8v8 not requirnd the rMpanY to obtsin an audTt of its acc¥)unts for the
year in queslson in acojrdance with $476.
The directors ocknowledge their reswnsibilities for (xjmplytng Ihe requlrements of
the Companies Act r88WCt to 8ccounb.ng records 8n¢J lh8 prep8ration of accounts.
These 8c(x)unts hav8 been prepared in 8CL¥)rd8nce wth Ihe provisrons 8ppIic8blè to
small companies Subject to thg small o)mpanles regimo and in armrdance with FRS102
SORP.
The notes on the folWng pages forni part ofthese accounts.
The accthnts approved by the Board on
ned
Trustee l Director
Company Roglstratlon No. 06933860
Charfty Reglstratl¢n No 1133711
**PAPA's Park Limited**
## **Notes to the financial statements for year ended 30th June 2022**
## **1 Statutory information**
PAPA's Park Limited is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number is 06933866 and Charity registered number is 1133711. The registered office address and principle place of business is 10-17 Pulross Road, London, SW9 8AF. The functional currency is sterling.
## **2 Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## **2a Basis of preparation**
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) ((September 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
Assets and liabilities are inititally recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **2b Public benefit entity**
The charitable company meets the definition of a public benefit entity under FRS 102. The trustees have had due regard to the Charity Commission's Public Benefit guidance when excercising powers and duties to which the guidance is relevant.
## **2c Going Concern**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The charitable company can comfortably operate based on confirmed funding with sufficient reserves.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
The impact of the Covid 19 crisis has been significant for the park. The Trustees have worked hard to raise funds to ensure the park has been able to survive despite the first lockdown in 2020 and subsequent lockdowns. Through accessing emergency grants from Sport England and also Lambeth Council grants.
## **2d Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Where donations and grants are restricted to future accounting periods, they are deferred and recognised in those future accounting periods. Grants for immediate financial support and assistance, or to reimburse costs previously incurred, are recognised immediately.
8
**PAPA's Park Limited**
## **Notes to the financial statements for year ended 30th June 2022: continued**
## **2e Interest receivable**
- Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the bank.
## **2f Fund accounting**
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
## **2g Expenditure and basis of apportioning costs**
- Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis with irrecoverable VAT included with the item to which it relates and has been classified under headings that aggregate all costs related to the category. Expenditure is classified under the following activity headings:
**Raising funds:** Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
**Charitable activites:** Expenditure on charitable activities includes the costs of delivering activities servicesfor its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. These costs incorporate Governance costs which include those costs associated with meeting the constitutional and statutory requirements of the charity, examination fees and costs linked to the strategic management of the charity.
## **2h Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid per full calendar month net of any trade discounts due.
## **2i Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2j Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments. The trustees seek to use short term deposits to maximise the return on monies held at the bank and to manage cash flow.
The charitable company has only financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value.
9
**PAPA's Park Limited**
## **Notes to the financial statements for year ended 30th June 2022: continued**
## **2k Pensions**
The company has no employees and therefore has no pension liability.
## **2l Fundraising**
The charitable company has not used 3rd party fundraising organisations. Funds are raised through individual donations, grants from Trusts, Foundations and Government grants and contracts, hall hire and membership fees. Some fundraising events have also been carried out.
## **2m Volunteers and donated services and facilities**
The value of services provided by volunteers is not incorporated into these financial statements as it is impractical to estimate such value. Where services and facilities are provided to the charity as a donation that would normally be purchased from our suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.
10
## **PAPA's Park Limited Notes to the financial statements for year ending 30th June 2022: continued**
## **3 Donations and legacies**
|**3**|**Donations and legacies**|||||||
|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|||**2022**|**2022**|**2022**|**_2021_**|**_2021_**|**_2021_**|
|||**£**|**£**|**£**|**_£_**|**_£_**|**_£_**|
||Donations|2,374|-|2,374|_8,835_|_-_|_8,835_|
||Fundraising|1,950|-|1,950|-|-|_-_|
|||||||-||
|||**£ 4,324**|**£ -**|**£ 4,324**|**_£ 8,835_**|**_£ -_**|**_£ 8,835_**|
|**4**|**Income from charitable activities**|||||||
|||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
||**Grant income**|**£**|**£**|**£**|**£**|**£**|**£**|
||Sport England|-|2,500|2,500|_-_|_-_|_-_|
||Groundwork London|-|4,959|4,959|_-_|_-_|_-_|
||Lambeth -Covid Fund|-|-|-|_10,000_|_-_|_10,000_|
|||**£ -**|**£ 7,459**|**£ 7,459**|**_£ 10,000_**|**_£ -_**|**_£ 10,000_**|
|||**Unrestricted**|**Restricted**|**Total**|**_Unrestricted_**|**_Restricted_**|**_Total_**|
||**Other charitable activities**|**£**|**£**|**£**|**_£_**|**_£_**|**_£_**|
||Café rental|4,600|-|4,600|_4,619_|_-_|_4,619_|
||Hall hire|3,879|-|3,879|_2,343_|_-_|_2,343_|
||Pitch hire|7,537|-|7,537|_2,290_|_-_|_2,290_|
||Membership fees|-|-|-|_-_|_-_|_-_|
|||**£ 16,016**|**-**|**£ 16,016**|**_£ 9,252_**|**-**|**_£ 9,252_**|
|||||||||
||**Total income from**
**charitable activities**|**£ 16,016**|**£ 7,459**|**£ 23,475**|**_£ 19,252_**|**_£ -_**|**_£ 19,252_**|
|**5**|**Interest received**|**Unrestricted**|**Restricted**|**Total**|**_Unrestricted_**|**_Restricted_**|**_Total_**|
|||||**2022**|||**_2021_**|
||Bank Interest|**£ 9**|-|**£ 9**|**_£ 4_**|-|**_£ 4_**|
11
**PAPA's Park Limited**
**Notes to the financial statements for year ending 30th June 2022: continued**
## **6 Expenditure**
|**Expenditure**||
|---|---|
|Expenditure represents the
Playground refurbishment
Planting
Hall refurbishment
Roof/hall repairs
Community Project
Electricity
Equipment café
Cleaning
Ground maintenance
Waste clearance
Water
Safety check
Insurance
Accountancy
Administrative expenses
Legal fees
Bank charges
Business rates
Other
Total expenditure
Playground refurbishment
Planting
Hall refurbishment
Roof/hall repairs
Electricity
Equipment café
Cleaning
Ground maintenance
Waste clearance
Water
Safety check
Insurance
Accountancy
Administrative expenses
Bank charges
Business rates
Other
_Total expenditure_
**_Expenditure -prior year_**
**_comparative:_**|following direct and apportioned costs
**Restricted**
**Charitable**
**Governance**
**Charitable**
**2022**
**Fundraising**
**activities**
**costs**
**activities**
**Total**
**£**
**£**
**£**
**£**
**£**
-
1,056
-
2,500
3,556
-
54
-
-
54
-
16
-
-
16
-
100
-
-
100
-
-
-
1,818
1,818
-
1,974
-
-
1,974
-
-
-
-
-
-
2,375
-
-
2,375
-
-
-
-
-
-
1,188
-
-
1,188
-
214
-
-
214
-
-
-
-
-
-
3,200
-
-
3,200
-
-
700
-
700
18
620
-
-
638
-
-
950
-
950
-
42
-
-
42
-
362
-
-
362
-
884
-
-
884
**Unrestricted**|
||**£ 18**
**£ 12,085**
**£ 1,650**
**£ 4,318**
**£ 18,071**|
||**_2021_**
**_£_**
**_£_**
**_£_**
**_£_**
**_£_**
_-_
_1,925_
_-_
_495_
_2,420_
_-_
_303_
_-_
_-_
_303_
_-_
_5,016_
_-_
_-_
_5,016_
_-_
_131_
_-_
_-_
_131_
_-_
_962_
_-_
_-_
_962_
_-_
_215_
_-_
_-_
_215_
_-_
_1,872_
_-_
_527_
_2,399_
_-_
_165_
_-_
_-_
_165_
_-_
_1,460_
_-_
_-_
_1,460_
_-_
_1,320_
_-_
_-_
_1,320_
_-_
_146_
_-_
_-_
_146_
_-_
_3,047_
_-_
_-_
_3,047_
_-_
_-_
_700_
_-_
_700_
_216_
_-_
_-_
_-_
_216_
_12_
_-_
_-_
_-_
_12_
_-_
_1,956_
_-_
_-_
_1,956_
_250_
_1,456_
_-_
_-_
_1,706_|
||**_£ 478_**
**_£ 19,974_**
**_£ 700_**
**_£ 1,022_**
**_£ 22,174_**|
12
**PAPA's Park Limited**
**Notes to the financial statements for year ending 30th June 2022: continued**
## **7 Net income for the year**
There is no depreciation charged as all playground equipment is written off in year of purchase. The playground is administered by volunteers therefore there are currently no staff costs
|||**2022**||**_2021_**|
|---|---|---|---|---|
|||**£**||**_£_**|
||Independent examination|£700||_£700_|
|**8**|**Debtors**|**2022**||**_2021_**|
||**Due within one year:**|**£**||**_£_**|
||Debtors|_-_||_-_|
||Prepayments|61||_61_|
|||**61**||**_£61_**|
|**9**|**Creditors**|**2022**||**_2021_**|
||**Amounts falling due within one year:**|**£**||**_£_**|
||Accruals|700||_1,400_|
||Deposit held for Café rental||||
|||**£700**||**_£1,400_**|
|**10**|**Analysis of net assets between funds**|**Unrestricted Funds**|**Restricted**|**Total Funds**|
||||**Funds**||
|||**2022**|**2022**|**2022**|
|||**£**|**£**|**£**|
||Fund Balances at 30 June 2022 are represented by:||||
||Current Assets|50,066|3,141|53,207|
||Creditors: Amounts falling due||||
||within one year|(700)|-|(700)|
||**Total net assets**|**£49,366**|**£3,141**|**£52,507**|
|||**_2021_**|**_2021_**|**_2021_**|
|||**_£_**|**_£_**|**_£_**|
||_Fund Balances at 30 June 2021 are represented by:_||||
||_Current Assets_|_45,192_|_(1,022)_|_44,170_|
||_Creditors: Amounts falling due_||||
||_within one year_|_(1,400)_|_-_|_(1,400)_|
||**_Total net assets_**|**_£43,792_**|**_(£1,022)_**|**_£42,770_**|
13
**PAPA's Park Limited Notes to the financial statements for year ending 30th June 2022: continued**
## **11 Funds**
|**Funds**||
|---|---|
|**Restricted Funds**
Sport England
Groundwork London
**Total Restricted Funds**
**Unrestricted funds:**
**Designated funds:**
**roof/hall**
**Designated funds:**
**pitch**
**General funds**
**Total funds**
Fund movements were as
follows:|**At 1st Jul**
**2021**
**Incoming**
**Outgoing**
**Transfers**
**between**
**funds**
**At 30th Jun**
**2022**
**£**
**£**
**£**
**£**
**£**
-
2,500
(2,500)
-
-
4,959
(1,818)
-
3,141
-
-
-
-
-|
||**-**
**7,459**
**(4,318)**
**-**
**3,141**|
||**16,000**
**-**
**-**
**-**
**16,000**
**6,000**
**-**
**-**
**-**
**6,000**
**20,770**
**20,349**
**(13,753)**
**-**
**27,366**|
||**£42,770**
**£27,808**
**(£18,071)**
**-**
**£52,507**|
## **Restricted Funds**
**Sport England:** £2,500 final tranche of funding received to fund sports pitch equipment, renewal and improvement.
**Groundwork London:** £4,959 received for the costs of Improving biodiversity in Papa's Park.
**Designated funds: roof/hall:** Funds held for repairs and refurbishment of the hall and roof.
## **Designated funds: pitch:** Funds held for maintenance of new sports pitch.
|**Funds -****_prior year comparison_**||||||
|---|---|---|---|---|---|
|_Fund movements were as_||||**_Transfers_**||
|_follows:_|**_At 1st Jul_**|||**_between_**|**_At 30th Jun_**|
||**_2020_**|**_Incoming_**|**_Outgoing_**|**_funds_**|**_2021_**|
||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|**_Restricted Funds_**||||||
|_ESC Lottery Sport_||||||
|_England Emergency_|_1,022_|_-_|_(1,022)_||_-_|
|_Fund_||||||
|**_Total Restricted Funds_**|**_1,022_**|**_0_**|**_(1,022)_**|**_0_**|**_0_**|
|**_Unrestricted funds:_**||||||
|**_Designated funds_**|**_16,000_**|_-_|_-_|_-_|**_16,000_**|
|**_Designated funds:_**
**_pitch_**|**_6,000_**|_-_|_-_|_-_|**_6,000_**|
|**_General funds_**|**_13,831_**|**_28,091_**|**_(21,152)_**|_-_|**_20,770_**|
|**_Total funds_**|**_£36,853_**|**_£28,091_**|**_(£22,174)_**|**-**|**_£42,770_**|
14
**PAPA's Park Limited Notes to the financial statements for year ending 30th June 2022: continued**
## **12 Legal status of the charity and liability of members**
The charity is a company limited by guarantee, incorporated in England and Wales (registration no: 06933866) and has no share capital. The liability of each member in the event of winding up is limited to £10 for waged members over 18, £5 for unwaged members over 18 and £1 for members under 18.
## **13 Taxation**
The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.
## **14 Related parties**
There are no related party transactions to disclose for 2022 (2021: none). There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.
## **15 Trustees**
None of the trustees (or any person connected with them) received any remunerations from the charity during the year. No reimbursements were made to trustees in 2022 (2021: £nil) for travelling and other expenses and no payments were made direct to third parties.
## **16 Operating lease commitments**
There are no commitments under non-cancellable operating leases at June 2022
## **17 Contingent assets or liabilities**
There are no contingent assets or liabilities at June 2022 (2021:Nil).
## **18 Professional indemnity insurance**
The charitable company has insurance to protect it from loss arising from the neglect or defaults of its trustee, employees and agents and to indemnify the trustees or other officers against the consequences of any neglect or default on their part.
The insurance premium paid by the charitable company during the year totalled £284. (2021 £282).
## **19 Ultimate controlling party**
The charitable company was under the control of the Trustees during the period under review. There is no single ultimate controlling party.
15