REGISTERED CHARITY NUMBER: 1154681 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ROCK PARK TRUST
ROCK PARK TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 12 Detailed Statement of Financial Activities 13
ROCK PARK TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report WLth the financial statements of the charity for the year ended JI March 2024. 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 l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Rock Park Trust's aim, as set out in its governing document, is that of social welfar¢' to improve the conditions of life for the inhabitants of Barnstaple without distinction of political, religious or other opinions by the provision and maintenance of a park. Significant activities Its main activities are the.. Provision and Maintenance of.. o parkland for leisur¢ purposes o a children's play area o adult gym equipment o public toilets o sports Pltche5 o public seating o a war memorial o floral planting o a flagpole Provision of a refreshment kiosk. l¢ased to a commercial provider which generates rental income. Maintenance of Rock Park Lodge, a house in the park grounds that is let to a tenant and used by the Town Ranger team as a base. Hire of parkland areas for community and commercial events. The Committee recognises that the principal risks to the trust's activities include- Damage through vandalism of park assets. Excessiv¢ wear and tear to play and other equipment. Injury clatm5 due to lack of inspection and maintenance. Loss of tree stock due to weather events or lack of a planting programme. Public benefit In setting their objectives and planning their activities d¢s¢ribed above, the trustees have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. Volunteers Barnstaple in Bloom continue to take an active role in the development of the park this year and significant improvement has been made as they focus on different areas of the park. Page I
ROCK PARK TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities In 1879 Rock Park was left in perpetuity &s a Charitable Trust to tE]e Mayor and Aldermen of Barnstaple Corporation, their heirs and successors, by William Rock. Today, the Park is owned by Barnstaple Town Council and managed by the Rock Park Trust Management Committee. In March 2024 an agreement was put in place to enable the Town Council to undertake the day-to-day operational management of the park- the Rock Park Trust ultimately remains responsible for th¢ park maintenance. Throughout 202J124 Rock Park has been hiredlused by the community for a variety of different activitiesl¢v¢nts - Barnstaple Marathon, the Race for Life, and regular events such as Parkrun, Park Yoga, fitness classes and football match¢s. The Park is home to the war memorial and hosted the Act of Remembrance and Children's Remembrance Service in November. The Barnstaple Local Lions Club hosted their annual picnic in the park and Rowland's Fair returned, always a popular event. In June 2023, an Arnied Forces Day event was held on th¢ football pitches, attended by thousands of local residents and included many activities, a fly past, and parachute landing on the field by the Red Devils. Routine maintenance and management of the park is carried out by the Town Council inhouse team throughout the year, including play area inspection / repairs, minor park furniture repairs, tree works, as well as grass cutting and pitch maintenance. During the year the Trust has.. Resurfaced two more of the footpaths, including raising one of them to try and help reduce problems of flooding. Continued the use of the football pitches by the two youth teams. FINANCIAL REVIEW Financial position and principal funding source The Trust has again achieved a sustainable financial p051tion utilising the £50,000 receipt of an annual grant from , Barnstaple Town Council paid in two halves. This is calculated by the Council to ensure it covers the running costs of the park. Principal funding sources The main sources of funding are: . Grant income from BTC Rental income from Rock Park Lodge and refreshment kiosk Rental Incoffle from comm¢r¢ial activities such as small fun fairs Other one-off grant applications Fees for the use of football pitches Page 2
ROCK PARK TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Reserves policy The Trust maintains a level of general unrestricted reserves that equate5 to the running costs of the park of between four and six months. which provides a significant period for review should income be delayed or not realised. These reserves have increased from £81,356 at l April 202J to £l10.810 at 31 March 2024. Designated unrestricted reserves are maintained for specifLC projects 01 for unexpected costs in risk areas such as tr¢¢ maintenance. This approach is reviewed annually in considering the budget. annual report and accounts. These reserves have decreased from £21,750 at l April 2023 to £18,750 at JI March 2024 following a transfer of £),000 from the general unrestricted reserve. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The charity is also governed by a Scheme of Delegation (Management Agreement) between Barnstaple Town Council and the Rock Park Trust Management Committee dated 6 March 2024. Recruitment and appointment of new trustees Barn5tapl¢ Town Council 15 the body corporate and sole trust¢¢ entitled to appoint memb¢rs onto the Management Committee. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1154681 Principal address Barnstaple Town CouncKI Barum House The Square BARNSTAPLE EX32 8LS Trustees Bamstaple Town Council Independent Examiner Mr A P Kennard FCCA Stevens & Willey Chartered Certified Accountants Grenville House 9 Boutport Street Barnstaple Devon EX31 ITZ Page 3
ROCK PARK TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Management Committee Members of Barnstaple Town Council (B TC) forni a Management Committee. Current members and other details relating to the Committee can be found at: https.'//barnstapletowncouncil.moderngov.co.uk/mgCommitteeDetails.aspx?ID-138 The role of the Management Committee acting on behalf of BTC who meet four times a year is to: Undertake management of the Trust and responsibilities of the Rock Park Trust Deed of 4th February 2008. Approve the Annual Return to the Charity Commission. . Approve the Rock Park Management Plan. Delegate the maintenance of Rock Park to Barnstaple Town Council. The Management Committee delegate day-to-day management of the Trust to Mr R J Ward, Town Clerk of BTC (Clerk to the Committee). Approved by order of the board of trustees on 702 and signed on its behalf by.. Trustee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROCK PARK TRUST Independent examiner's report to the trustees of Rock Park Trust I report to the charity trustees on my examination of the accounts of Rock Park Trust (the Trust) for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirni that no material matters have come to my attention in Connection with the examination giving me cause to beEieve that in any material respect- accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or th¢ accounts do not accord with those record5- or the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinatioTh. I have no concerns and have Come across no other matters in connection with th¢ examination to which attention should be drawn in this report in order to enable a prop¢r understanding of the accounts to be reached. Mr A P Kennard FCCA The Association of Chartered CertifIed Accountants Stevens & Willey Chartered Certified Accountants Grenville House 9 Boutport Street Barnstaple EX)1 ITZ Dat¢:.....Ll. .... ..... ................... Page 5
ROCK PARK TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Unrestricted funds 2023 Total funds Notes JNCOME AND ENDOWMENTS FROM Donations and legacies 50,000 50,000 Charitable activities 13,500 13,010 Total 63,500 EXPENDITURE ON Charitable activities Charitable activities 37,046 42,317 NET IIYCOME 26,454 RECONCILIATIOIY OF FUNDS Total fund5 brought forward 103,106 82,41i TOTAL FUNDS CARRIED FORWARD 129,560 103,106 The notes on page O form part of these financial statements Page 6
ROCK PARK TRUST BALANCE SHEET 31 MARCH 2024 2024 Unrestricted funds 2023 Total funds Notes CURRENT ASSETS Debtors Cash at bank 4,961 132,916 2,197 101,872 137,877 104,069 CREDITORS Amounts falling due within one year (8,317) NET CURRENT ASSETS 129,560 10),106 TOTAL ASSETS LESS CURRENT LIABILITIES 129,560 10),106 NET ASSETS 129,560 Ioi,106 FUNDS Unrestricted funds 129,560 IOi.106 TOTAL FUNDS 129,560 IOJ.106 The fjnancial statements were approved by the Board of Trustees and authorised for issue on ..¥..l..i...l...boY.<. and were signed on its behalf by.. Trust¢e Trustee The notes on page O forni part of these financial statements Page 7
ROCK PARK TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUY4TING POLICIES Basis of preparing the financial statements The financial statements of the charity, 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 chatities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, aiid the Charities Act 201 l. The financial statements hav¢ b¢en prepared under th¢ historical cost convention. Income All incom¢ is recognised in the Statement of Financial Activities once the charity has entfttlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognis¢d 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 attribut¢d to particular headings they have been allocated to activities on a basis consistent with the use of Tesources. Taxation Th¢ charity is exempt from tax OTh its charitable activities. Fund accounting Unrestricted funds can be used in accordanc¢ 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 explanatiorA of the nature and purpos¢ of each fund is included in the notes to the financial statements. Page 8 continued...
ROCK PARK TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES 2024 2023 Kiosk rent Lodge rent Park hire Sports pitch income Miscellaneous income 2,700 2,500 7,000 1,300 2,700 2,500 6,810 900 loo 13,500 13,010 INDEPENDENT EXAMINERS REMUNERATION 2024 Independent examination fees - paid Independent eyamination fees - accrued 125 750 125 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March ?024 nor for the year ended 31 March 202J. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricte funds INCOME AND ENDOWMENTS FROM Donations and legacies 50,000 Charitable activities 13,010 Total EXPENDITURE ON Charitable activities Charitable activities 42.317 NET INCOME 20,693 Page 9 continued...
ROCK PARK TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricte funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 103,106 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors 225 4,736 225 1,972 4,961 2,197 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors 7,567 750 963 8,317 963 MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Designated fund 81J56 21,750 26,454 3,000 {3,000) 110,810 18,750 103,106 26,454 129.560 TOTAL FUNDS 103.106 26,454 129,560 Page 10 continued...
ROCK PARK TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows- Incoming resources Resources expended Movement in funds Unrestricted funds General fund 63,500 (37,046) 26,454 TOTAL FUNDS 63,500 (37,046) 26,454 Comparatives for movement in funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Designat¢d fund 58,163 24,250 20,693 2.500 (2.500) 21.750 82.413 20,693 103.106 TOTAL FUNDS 20,693 IOi.106 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 63,010 (42,317) 20,693 TOTAL FUNDS 63,010 (42,317) 20,693 Pagell continued...
ROCK PARK TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers between fldS At 31.i.24 At 1.4.22 Unrestricted funds General fund Designated fund 58,163 24,250 47,147 5,500 (5,500) 110.810 18,750 82,413 47,147 129,560 TOTAL FUNDS 82,413 47,147 129,560 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds G¢neral fund 126,510 (79,36J) 47,147 TOTAL FUNDS 126,510 (79.363) 47,147 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 12
ROCK PARK TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 INCOME AND ENDOWMENTS Donations and legacies Grants 50,000 50,000 Charitable activities Kiosk rent Lodge rent Park hire Sports pitch income Miscellaneous income 2,700 2,500 7,000 1,300 2.700 2,500 6,810 900 Loo 13,500 Total incoming resources 63,500 6i,010 EXPENDITURE Charitable activities Electricity - toilet block Gas Wat¢r- toilet block Park maintenance Tree felling Lodge repairs Ki05k rates Cleaning Security 2,836 986 1,617 14,327 3,220 286 187 10,542 1,610 1.600 985 20,920 709 210 9,730 1.610 35,611 Support costs Governance costs Independent examination fees Sundries Legal fees 875 70 490 125 106 1,435 804 Total resource5 expended 37.046 42,317 Net income 26,454 This page does noi form part of the Statutory financial stY¢tements Page 13