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2021-07-31-accounts

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PROJECT
MYATT’S FIELDS PARK mfpp
MYATT’S FIELDS PARK PROJECT
ANNUAL REPORT AND FINANCIAL STATEMENTS
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ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31ST JULY 2021

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PROJECT
MYATT’S FIELDS PARK mfpp
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Contents

  1. Reference and administrative details............3

  2. Structure, governance and management.....4

  3. 3 Objectives of Myatt’s Fields Park Project......5

  4. Chairman’s statement....................................7

  5. Our strategy....................................................8

  6. Achievements and performance..................16

  7. 7 Future plans .................................................12

  8. Trustees responsibilities................................13

  9. Independent examiner’s report...................14

  10. Statement of financial activities..................15

  11. Balance sheet................................................16

  12. Notes to the accounts...................................18

All photograph of the park in this years annual report are from the photgraphic competition held in 2021. Congratulation to all who took part.

Myatt’s Fields Park Project. Charitable Company Limited by Guarantee Charity number 1139256 Company number 07321235

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Chair Treasurer
Trustees:2021
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Reference and administrative details

Myatt’s Fields Park Project is a charitable company limited by guarantee, incorporated on 27th July 2010. It is governed by its Memorandum and Articles of Association. Charity registration number: 1139256 Company registration number: 7321235

Registered office Myatt’s Fields Park Project The Old Depot, Myatt’s Fields Park Cormont Road London SE5 9RA

Website www.myattsfieldspark.info

The Trustees who are the Directors of the company for the purposes of the Companies Act are responsible for setting policy and agreeing the strategy.

Trustees that continued in office: Marjorie Landels: Chair Jolanta Gallo: Treasurer Rosy Crehan Rebecca Kaditzke Jennifer Reeson Philip Sherwin

Trustees resigned: January 2021 Saskia Goldman Liz Hobman

Trustees elected: January 2021 Emma Chandra Nadisha Henry Rebecca Lowson Nathan Naidoo Gianluca Rapone Sean Walsh Andrea Wright

Advisory members of the Community Engagement subcommittee: Tony Bailey Matthieu Chung Kate Ivey-Williams Michelle Killington

Advisory member of the Fundraising subcommittee Zazu Arnold

Advisory member of the Finance subcommittee: Gieve Momtahan

Principle advisers:

Bankers: The Cooperative Bank

Independent examiners: Thompson and Co Independent Examiners Vestry Hall, 336 – 338 London Road, Cricket Green Surry CR4 3UD

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Structure, governance and management

All trustees are recruited through an open process of public advertisement and elected by vote during our annual general meeting, last held 24th January 2021.

All Trustees are also Directors under the Companies Act 2006. No trustees have any beneficial interests in the company, the Charity maintains a Register of Interests.

The Board normally meets four times a year. Its principle role is to determine mission, policy and strategy, to monitor the performance, to manage the governance process and to appoint and manage the Park Manager and Community Development Manager.

The day to day management of the charity is delegated to the Park Manager and Community Development Manager.

The Trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 July 2021.

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Objectives

The promotion for the public benefit of urban regeneration of Myatt’s Fields Park for the benefit of the socially and economically deprived wards of Vassall and Coldharbour in the London Borough of Lambeth and Camberwell Green in the London Borough of Southwark, by all or any of the following means:

1 The maintenance, improvement or provision of public amenities

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The protection or conservation of the environment

5 The advancement of education training or retraining particularly amongst unemployed people with disabilities and providing unemployed people with work experience

6

The promotion of horticulture, food growing and healthy eating

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Chair’s statement

Welcome to MFPP Annual Report for August 2020 – July 2021. This document outlines the work carried out by our trustees, staff and volunteers over the past year.

It is impossible to tell the story of 2020-21 without talking about Covid-19. As the pandemic continued and people were confined to home plus facilities closed, the park was more valued than ever as a natural space where people could meet and improve their wellbeing. Thousands of people turned to the park for relief from loneliness and stress in our beautiful, natural space.

And the community came together in a spectacular way to support the park and one another. Our staff, volunteers, trustees, donors and partners worked tirelessly to maintain the park and bring people together despite extremely uncertain times and limits on all our operations.

This hard work was rewarded when the park won a Gold in London in Bloom Awards in 2021.

We were also proud to be included as a case study in National Lottery Heritage Fund evaluation highlighting the benefits of investing in parks.

See the report here: https://www.heritagefund.org.uk/publications/parks-people-why-should-we-invest-parks

Marjorie Landels, Chair, Myatt’s Fields Park Project

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Our strategy

The park is a “true community hub”. It plays a huge part in bringing people together in an area where loneliness is rife. It provides a place to relax and to exercise for thousands of people who live in overcrowded housing and who face poor health. It gives people the chance to learn new skills and gain employment in a neighbourhood where inequality is growing. It offers an opportunity to showcase local cultural richness in an area of great diversity. It provides access to fresh, top-quality food in a food desert. Our charity is at the heart of a network of local organisations working together to bring about change.

Our challenge is not only to provide the resources to protect the park now and in the long term but also to do this in a way that maintains and grows the level of community benefit we provide. It is continuously challenging to manage the balance between income generation and community benefit: there is lively debate about which activities should be developed. However, the debate is leading to innovation around active citizenship and skill building which empowers local people so there has been an unexpected benefit in this learning.

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Myatt’s achieved Green Flag and a Silver Gilt in London in Bloom

Achievements and performance

STRATEGIC AIM 1: Growing our business: developing our hires and income generation activities

All income raised by our charity is reinvested in the park. We found other income sources to support us during the pandemic, including soaring levels of tennis court use and new hires of the compound by Father Nature and Trees for Cities. We also saw an increase in donations to the park with regular monthly income rising to £800 a month from 45 donors; we hosted eight weddings as well as hired spaces in the park for parties. In total, we raised £92,606 from donations and hires for the park. We hosted the Little Cat Café, Lambeth Tigers and Mulberry Outdoor Preschool.

STRATEGIC AIM 2: Growing our organisation:

a wide range of people included in decision making and management of the park

Board of trustees

In January 2021 we welcomed a new and more diverse board of trustees thanks to a review of our governance from 2019 – 21 that was funded by the National Lottery Heritage Fund. Seven new trustees joined in January 2021, bringing the total number of trustees to thirteen. We strengthened our Board by bringing in independent advisory members (subcommittee members) who live in the local community and have skills, knowledge and experience to contribute to the management of the park.

We now have three subcommittees that meet monthly – finance, fundraising and community engagement, marketing and events – that allow trustees and advisory members to contribute their wide range of skills, experience and knowledge for the benefit of the park.

We also launched a series of direct consultations with park neighbours including focus on the football pitch, park pond, dog area and compound. These meetings enabled input from neighbours and users on these areas, and we are now working to make improvements based on their recommendations.

Communications

We sent out a monthly ebulletin to 1500 subscribers.

Volunteers

Local people stepped up to support their park in a fantastic way. We saw a huge increase in registrations for park volunteering – with 136 people currently registered for park gardening and 35 as litter pickers.

Our staff

We are proud of our staff team – we employ 13 people (10 of whom live in Lambeth) who work hard for the benefit of park users and the park. Although it looks a big team, their hours add up to just 4.5 full time posts – this covers all administration, repairs, fundraising, strategy and business planning, income generation, party and wedding hires, horticultural management and gardening, events and community engagement, marketing and communications, volunteer coordination, litter picking and caretaking. We benefit hugely from the skills, experience and commitment of our staff team.

All staff were maintained on full pay throughout Covid-19 and no jobs were lost.

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Achievements and performance

STRATEGIC AIM 3: Growing the park:

developing our horticultural business and managing soft landscaping

This year we signed a new contract with the council, with MFPP taking on responsibility for mowing, hedges and maintenance of the park beds. Dozens of volunteers helped create new biodiverse wildlife areas, planted up the bandstand bed and create beautiful displays of wild flowers in the Knatchbull Road beds.

STRATEGIC AIM 4: Growing people:

establishing a range of training, volunteering, and therapeutic activities in the park to improve health and wellbeing and provide stepping stones into employment

Hard work by staff and volunteers and funding from City Bridge Trust meant that we distributed 40,000 young plants to 54 local food growing groups and individuals in 2021. This was despite having to cancel all our greenhouse volunteering until spring 2021 – we were delighted to welcome everyone back from May. We made films showing gardeners what to grow each week, and launched Food Heroes in May 2021 with adaptations for Covid-19 – all sessions were held in the depot courtyard with dozens of people enjoying community meals cooked by local people.

All park events were cancelled from April 2020 but returned with a bang in spring 2021 with a fantastic series of activities organised by and with our community engagement subcommittee, local people and organisations. This included recording a mass dance event - Jerusalema - in July https://www.myattsfieldspark.info/jerusalema-challenge.html as well as five concerts on the bandstand organised by Camberwell Fair. We held our first Pride Picnic in July 2021, and local people organised a dog show in August and a Great Big Green event in the autumn. Local people taught dance and drumming throughout the year in our beautiful outdoor space and held poetry and storytelling sessions in our historic bandstand and roundhouse. We held a photo competition with 40 entries.

Mulberry Centre offered two free Stay and Play sessions in the park’s picnic area each week, and the LEAP team continued to connect with hundreds of families during lockdown with drumming in the park and nature packs; they helped redistribute second hand wellies so people could get outside in the winter, and organised a summer fun day.

Lambeth funded a range of events for young people on estates in summer 2020 and we held the funding for the providers. Our role as a trusted council partner meant the council and partners could react quickly in response to young people’s needs.

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Achievements and performance

STRATEGIC AIM 5: Growing our neighbourhood: developing our horticultural business and managing soft landscaping

Partnerships

We are proud to work in close partnership with other local community and statutory organisations. During the pandemic, we came together with Marcus Lipton Community Enterprise, CHIPS, Loughborough Junction Action Group, Indo-American Refugee and Migrant Organisation, Loughborough Community Centre, Big Local and raised £45,000 from London Funders Community Response Fund for joint working as Vassall and Coldharbour Covid 19 Response Consortium. We employed local people to research local needs during the pandemic, produced a directory of local services, and brought together 102 local organisations for joint planning. A survey of local groups found that representatives had met new people, understood local needs better, were better informed about local services and were better able to plan their work after engaging with Vassall and Coldharbour Covid-19 Response in 2020-21.

We also supported Vassall and Coldharbour Forum to organise communication sessions on Angell Town.

Many thanks to our funders:

Lambeth Council

Lambeth Early Action Partnership (LEAP)

National Lottery Heritage Fund

City Bridge Trust

London Community Foundation

Individual donors

Thank you to funders that provided funds to support us during Covid-19: Power to Change (£9310) and City Bridge (additional unrestricted funding)

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Future plans

We welcome the following developments in 2021-23:

AIM 1: Growing our business; developing our hires and income generation activities

By investing in park buildings and park infrastructure, we will create high quality spaces where people can come together, build community and improve the wellbeing of our community, as well as helping us raise funds for the park.

Depot renovation: Lambeth Council is investing in a full renovation of the park depot to create a new community space with a focus on food growing. This will include a new community kitchen, a large eating/meeting space and a foyer running from Cormont Road through to the park. The work is planned to start in August 2022 and to be completed in spring 2023.

Compound: we will redevelop the compound as a hire space after consulting neighbours and park users about how the area should be used.

Park Cottage: Lambeth Council plans to hire this out, giving MFPP the funding to support park management

Football pitch: lighting will be installed at the pitch, ensuring it can be used in dark winter evenings Corporate volunteering: facilitate corporates and small companies to volunteer at the park Donations: grow our donations

AIM 2: Growing our organisation; a wide range of people included in decision making and management of the park

Diversity and inclusion: MFPP priority is to ensure that the park fully serves our whole community. We will seek funding to upskill people from across the community and our organisation so they can play their part in supporting and developing the park as trustees, volunteers, staff and park users.

AIM 3: Growing the park; developing our horticultural business and managing soft landscaping

Park horticultural maintenance: MFPP will continue to maintain the park as a green space, managing and developing its flower beds, grass and internal hedges. We will implement our plans to create a place that benefits people, flora and fauna, is adapted to climate change and resilient in a time of austerity.

Aim 4: Growing people; establishing a pyramid of training, mentoring, accreditation, volunteering, business development support and therapeutic activities in the park to improve health and wellbeing and provide stepping stones into employment

We will continue to implement the 5-year City Bridge funded greenhouse project which includes volunteering and pathways to work. We will seek funding for youth training (including hosting Kickstart young people in 2022) and for training local people so they can stage their own events. We will host park volunteering.

Aim 5: Growing our neighbourhood

We will continue to work in partnership with local organisations as part of Lambeth Early Action Partnership, Vassall and Coldharbour Forum and Vassall and Coldharbour Covid-19 Response. We will be pro-active in working with organisations to coordinate local services and reach the widest range of people.

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Financial review

In 2020/21 MFPP raised the total income of £335,853 (2019/20: £222,268), a 46% increase on last year. This increase is made of the combination of restricted funds, donations and trading income. In 2020/21 we received grant funding for our partnering organisations for the total of £95,000. Some of our income streams continued to be affected by Covid-19 pandemic but we have put efforts into raising our income from grants, donations and into finding other trading opportunities.

The expenditure for the year was £289,497 (£2019/20: £208,793). This is a 39% increase on last year and is mainly due to the subgrants given to the partnering organisations (£83,167).

We ended the year with a surplus of £46,356 (2019/20: £20,000), made of the unrestricted surplus of £42,149 (2019/20: £33,136) and restricted surplus of £4,206 (2019/20: deficit of £12,661). Our total reserves increased to £149,131 (2019/20: £102,776). Our unrestricted reserves increased to £131,118 and restricted to £18,013.

MFPP’s reserves policy is to hold unrestricted funds of 3 months’ worth of expenditure. At the end of 2020/21 MFPP held over 5 months’ worth of expenditure (2019/20: 5 months).

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Trustees’ Resposibilities

The Trustees, who are also Directors of Myatt’s Fields Park Project for the purposes of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements which give a true and fair view of the state of affairs of the charitable company at the end of each financial year, and of the incoming and outgoing resources for the year then ended.

In preparing these financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small Company provisions

This report has been prepared in accordance with the special provisions for small companies under the Companies Act 2006, Charities Act 2011 and the Financial Reporting Standard FRS 102.

Signed on behalf of the trustees

……………………………………….......................................... Marjorie Landels Chairman

Approved by the trustees on 20/01/2022

…………………………............................................................

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Independent Examiner’s Report

We report on the accounts for the Charity for the Year Ended 31 July 2021, which are set out on the following pages.

This report is made solely to the Trustees of Myatt’s Fields Park Project as a body. Our examination has been undertaken so that we might state, those matters we are required to state to them in an examiner’s report and for no other purpose. To the fullest extent permitted by law. We do not accept or assume responsibility to anyone other than the Charity as a body for my examination, for this report or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE EXAMINER

As the Trustees you are responsible for the preparation of the financial statements. It is our responsibility to state, whether particular matters have come to our attention.

BASIS OF INDEPENDENT EXAMINERS REPORT

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking any explanations from you as a Management Committee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently we do not express an audit opinion on the view given by the accounts.

INDEPENDENT EXAMINER’S STATEMENT

The trustees have confirmed that other than the related party transaction as mentioned in the notes to the accounts (note 12), there were no other transactions or conflicts of interests.

The trustees recognise the risks associated with related parties and conflicts of interests and have implemented procedures which help to recognise, report, authorise and record these transactions when they occur.

Myatt Fields Park Project was a victim of cybercrime in 2020-21. All funds were refunded, and no monies were lost. The trustees have revised their financial procedures enhancing their internal controls.

No other matter has come to our attention:

  1. Which gives us reasonable cause to believe that in any material respect the requirements

  2. to keep accounting records; and

  3. to prepare accounts which accord with the accounting records and to comply with the accounting requirements

have not been met; or

  1. To which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed ……………………………………….....................................

1/24/2022 Date……………………………………….........................................

Thompson & Co Independent Examiners Vestry Hall, 336 London Road, Cricket Green, Surrey, CR4 3UD

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Statement of Financial Activities

FOR THE YEAR ENDED 31 JULY 2019

Unrestricted Restricted
Total		 Total
Funds Funds
 Funds 2021 Funds 2020
Notes £ £ £ £
INCOME FROM
Donations 2
 32,627 -
 32,627 22,348
Charitable activities 3
 28,224 237,060
265,284		 185,063
Other trading activities 4
 37,942 -
 37,942 21,857
TOTAL INCOME 98,793 237,060 335,853 229,268
EXPENDITURE ON
Raising funds -
 -
 - -
Charitable activities 5-6-7
 60,573 228,924 289,497 208,793
TOTAL EXPENDITURE 60,573 228,924 289,497 208,793
NET INCOME/(EXPENDITURE)
FOR THE YEAR 38,220 8,135 46,356 20,475
Transfer between funds 3,929 (3,929) - -
NET MOVEMENT IN FUNDS 42,149 4,206 46,356 20,475
FUNDS BROUGHT FORWARD 88,969 13,807 102,776 82,301
FUNDS AT 31 JULY 2021
131,118 18,013 149,131 102,776

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Balance sheet as of 31st July 2021

2021 2020
Notes £ £
FIXED ASSETS
Tangible assets 8 4,955 6,983
CURRENT ASSETS
Debtors 9 20,211 10,363
Short term deposits and cash in hand 215,592 174,046
235,803 184,409
CREDITORS: DUE WITHIN ONE YEAR 10 91,627 88,616
NET CURRENT ASSETS 144,176 95,793
NET ASSETS 149,131 102,776
FUNDS
Restricted 11 18,013
 13,807
Designated funds 72,425 67,425
Unrestricted: General funds 58,693 21,544
TOTAL FUNDS 149,131 102,776

The directors are satisfied that the Charity is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

20TH JANUARY 2022

These financial statements have been approved by the directors on ……………………………………………........

OKUSI

and are signed on their behalf by …………………………………………………………................................................ Marjorie Landels, Chairman

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Notes to the accounts for year ended 31 july 2021

Note 1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2015).

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment
25% Reducing balance basis		 Equipment
25% Reducing balance basis
Fixtures and fttings:
10 years Straight line basis
Fund accounting
(a) Unrestricted funds are those that can be expended at the discretion of the trustees in the
furtherance of the objects of the charity;
(b) Restricted funds are those that may only be used for specifc purposes. Restrictions arise when
specifed by the donor or when funds are raised for specifc purposes.
Income recognition
Income is recognised and included in the Statement of Financial Activities (SoFA) as follows
(a) when the charity becomes entitled to the income, receipt is probable and the monetary value can be
measured with suffcient reliability;
(b) when income has related expenditure, the income and related expenditure are reported gross in the SoFA;
(c) bank interest is recognised when credited to the account;
(d) Income, which is subject to conditions that the charity is yet to fulfl, or which is specifcally for use in a
future accounting period, is treated as deferred income.
Expenditure and liabilities
(a) Expenditure is recognised on the accruals basis;
(b) The charity is not registered for VAT thus all costs are shown inclusive of VAT charged;
(c) Liabilities are recognised as soon as there is a legal or constructive obligation to pay out resources.

Tangible assets Tangible assets are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or, if gifted, at their market value.

Debtors
(a) Debtors are recognised at the settlement amount due;
(b) Prepayments are valued at the amount prepaid.
Creditors
(a) Creditors 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 are normally recognised at their
settlement amount.
(b) Accrued charges are normally valued at their settlement amount.

Going concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

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Note 2. Income from donations

Unrestricted funds Total funds 2021 Total funds 2020
Donations £ £ £
Donations and grants
 26,440 26,440 17,808
Donated gifts and services 6,187 6,187 4,540
32,627 32,627 22,348

Note 3. Income from charitable activities

Unrestricted Restricted Total Total
funds funds funds 2021 funds 2020
Grants (a) - 237,060 237,060 159,350
Hire of football pitch and tennis courts 23,424
 - 23,424 15,553
Café 3,000
 -
 3,000 1,200
Mulberry Centre: hires 1,000
 -
 1,000 4,623
Festivals: stall hires and park sales 800
 -
 800 4,336
Total 28,224
 237,060 265,284 185,063
a)
Grants
Funder Project name Total Total
funds 2021 funds 2020
Lambeth Council Park management 24,000 24,000
Lambeth Early Action Partnership (LEAP) Vassall Ward Family Engagement Team 37,179 41,082
National Lottery Heritage Fund Resilient Heritage Project 25,876 49,141
City Bridge Greenhouse project 51,904 40,338
Lambeth Council Bandstand Programme 2,790 1,100
Lambeth Early Action Partnership (LEAP) Better Friday Fun
311 1,689
Grants for partnering organisations:
Lambeth Council Estates Festival Funding 45,000 -
City Bridge
 London Community Response Fund 45,000 -
London Community Foundation Happy Drums project - 2,000
Lambeth Council Forums Network Vassall and Coldharbour Forum 5,000 -
Total 237,060 159,350

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Note 4. Other trading income

Unrestricted Total Total
funds funds 2021 funds 2020
Weddings in the park 11,969 11,969 4,989
Park hires and sales - other 25,973 25,973 16,869
Total 37,942
 37,942 21,858

Note 5. Expenditure from charitable expenditure

Unrestricted Restricted Total Total
funds funds funds 2021 funds 2020
Direct project costs 4,992
 176,235
 181,227
 106,195
Support costs 55,581
 52,689
 108,270
 102,598
Total 60,573 228,924
 289,497
 208,793

Note 6. Charitable activities by expenditure type

Direct Supported Total Total
Costs Costs Costs 2021 Costs 2020
Salaries & freelance 69,970 71,534
 141,504
 132,888
Meeting and event costs 6,531 5,314 11,845 14,174
Repairs, renewals & depreciation 3,221 12,399 15,620 10,519
Professional fees - 140
 140 262
Fixtures, fttings and equipment - 2,063 2,063 1,651
Cleaning materials - 317 317 4,179
Insurance - 1,107 1,107 1,789
Offce costs 430 7,468 7,898 9,249
Seeds, soil and plants 3,320
 1,779
 5,099 6,911
Training - 1,408 1,408 180
Consultancy fees 14,587 1,947
 16,534 22,924
Publicity -
 2,040
 2,040 229
Governance costs - 355 355 457
Costs of sale - - - 3,381
Provision for doubtful debts - 400 400 -
Sub-grants given to partner organisations 83,167 - 83,167 -
Total
 181,227
 108,270
 289,497
 208,793

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Note 7. Staff costs

Wages and salaries

2021 2020
£ £
141,504 132,888

In 2019 we received a 5 year grant from the City Bridge that allowed us to employ a community gardener three days a week plus a volunteer coordinator two days a week.

No employee received remuneration in excess of £60,000.

Staff numbers were as follows:

2021 2020
Number of employees 13 13
FTE equivalent (estimated) 4.5 4.3

Note 8. Tangible fixed assets

COST DEPRECIATION
Cost at 1 August 2020
 19,879 At 1 August 2020 12,896
Additions 0 Charge for theyear 2,028
At 31 July 2021
 19,879 At 31 July 2021 14,924
NET BOOK VALUE
At 31 July2020 6,983
At 31 July 2021 4,955
Note 9. Debtors
2021 2020
£ £
Trade Debtors 10,947 1,488
Other Debtors 9,264 8,875
20,211 10,363
Note 10. Creditors
2021 2020
£ £
Trade Creditors 6,841 2,095
Deferred income 25,303 53,587
Other creditors 14,482 32,934
Bank loans 45,000 -
91,627 88,616

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Note 11. Movement in restricted funds

Op Balance Cl Balance
as of 1 Aug 20 Income
 Expenditure Transfer of funds as of 31 July 21
Restricted funds £ £
 £ £ £
Vassall Parents Forum
 6,274
37,179
 38,096 (2,852)
 2,505
Park management grant
 726 24,000
 23,758 -
 968
Vassall and Coldharbour Forum 3,006 5,000
 8,006 -
 -
Resilience Heritage project 1,247 25,876
 26,926 -
 197
Greenhouse project
 1,554 51,904
 48,115 -
 5,343
Bandstand programme
 -
 2,790
 2,440 -
 350
Other projects
 1,000 311
 - -
 1,311
Subgrants:
Estates Festival Funding
 -
 45,000
 42,272 (1,077)
 1,651
London Community Response Fund -
 45,000
 39,312 -
 5,688
Total Restricted funds 13,807 237,060
 228,924 (3,929)
 18,013

Note 12. Related party transactions

During the year a trustee Phil Sherwin had a relative working for the charity as a Development Manager.

Eliza Merchan is a licensee of the park café and is also employed by MFPP as a Park Manager. The café pays £3,000 pa to MFPP, which is a contribution towards the depreciation of the equipment in the café. The Little Cat Cafe served 2035 free drinks to volunteers, litter pickers or anyone unable to pay worth £4487.1

On agreement with the Trustees, MFPP paid Landels Associates, a company owned by the Chair, Marj Landels, the sum of £772 to provide graphic design support to produce publicity materials for the LEAP project.

The trustees confirm that no other payments were made to any trustees or other connected persons during the financial year.

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PROJECT
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PROJECT MYATT’S FIELDS PARK mfpp

Myatt’s Fields Park Project, The Old Depot, Myatt’s Fields Park, Cormont Road, London. SE5 9RA Email: parkmanager@myattsfieldspark.info Website: www.myattsfieldspark.info