PLAY @ COTHERSTONE (Registered charity number 1174041)
FINANCIAL ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023
| Chair | Mr M Windle |
|---|---|
| Treasurer | Ms A Urbanowicz |
| Secretary | Ms E Wilson |
Charity Trustees: Mrs Y Butterfield Mrs DAR Forster Mr S Rogers Ms E Rowell Mr J Smith Ms A Urbanowicz Ms E Wilson Mr M Windle
play @ cotherstone’s registered address with the Charity Commission is:
play @ cotherstone c/o Cotherstone Village Hall Moor Road Cotherstone Barnard Castle County Durham DL12 9PH
Treasurer’s Report
Governance
Play@cotherstone continues to manage Cotherstone Village Park, the land for which is leased from Mr J Birkett on a 25 lease expiring in 2031.
The charity operates as a charitable incorporated organisation (CIO) which provides protection for the charity, trustees and volunteers and helps the group be sustainable.
The objects of the charity are:
“ To promote, for the benefit of the inhabitants of Cotherstone and the surrounding area, the provision of recreational and sporting facilities for the entire community in the interests of social welfare with the object of improving the conditions of life for the residents of Cotherstone.”
The charity is administered and managed by 8 trustees. During 2022/23, we saw the resignation of Vice Chair Mr Sam Forsyth, Sam had been one of the original founder members of the charity in 2004 and the charity expresses sincere thanks for all his hard work.and wishes him well with his future. We continue to look for new trustees to come onto the charity and be actively involved.
In addition there are a host of people who help throughout the year with maintenance, events and administration. Without the help of all these volunteers, the charity would not be able to operate. Therefore in order to reflect the true operating position of the charity, it is also reported here that the charity has benefited from 506 volunteer hours and £1,190 of gifts-in-kind during the year. New volunteers to help with maaintenance and holding events are always welcome.
play @ cotherstone has operated a bank account at HSBC Bank plc since the launch of the original charity in 2004. However, with the introduction of significant bank charges on the charity bank account, the trustees made the decision to move banking arrangements to the Co-Op Bank plc who currently offer free banking. At the year end, 31st March 2023, this new Co-Op Bank account is now the only current account and during the year the HSBC Bank account balances were transferred to the Co-Op and the HSBC account, subsequently closed down.
In keeping with our Bank Mandate, the Co-Op bank accounts requires two signatures for all cheque payments. The small holding of petty cash is held secure and requires a full audit trail.
In terms of governance, in April 2023, we note that we updated our Principles and Statement of Banking and Accounting Controls and this was approved by the trustees.
Accounting
These accounts have been prepared on a cash receipts and payments basis and cover the year 1st April 2022 to 31st March 2023.
As well as cash, other assets held by the charity are the Park barn, land under and around the barn, play equipment, trim trail, maintenance tools and event equipment.
All grants with restricted terms are shown separately in these account. To assit the reader, a summary statement of movement of reserves is included within these accounts.
The lease has 8 years to run until 2031 and the trustees continue to monitor the situation and are engaged with the landowner to discuss extension to the lease and at this stage, see no evidence to suggest this will not be successfully agreed. As part of this process, a separate fund has been establised within the unrestricted reserves to anticipate future legal costs. At the end of the accounting year to 31 March 2023, a further £500 was transferred into this fund from the general reserve to give a carrying balance of £1,000.
Fund raising, grants and donations
A key part of the sustainability of Cotherstone Village Park relies on ensuring there is a suitable reserve built up to continute operating even in difficult and unexpected conditions. Therefore, there is a constant need to fundraise to keep the Park open. The charity needs to raise around £3k per year to simply keep on top of maintenance and every day running costs such as the grass cutting and the annual insurance. This is over and beyond any capital additions or replacements.
During 2022/23, we were able to host within the Park, part of the Village Fun Weekend. This raised surplus funds of £314 towards our general reserves. Many thanks to St Cuthberts Church for continuing to sponsor the 2022 Fun Run.
Later in the year, there was a private Bonfire Party which was a great evening and generous donations from this party led to another £2.7k surplus being added to our general reserves. We are particularly grateful to Mr Dent for the loan of the field and for all the early personal donations which provided assurance that the party could be planned in advance.
Thank you to all the volunteers who helped to plan, conduct and clear up these two events and to all who donated cash, prizes and food on the day.
Alongside these, donations were provided by:
| Cotherstone Fun Weekend Committee | £500 |
|---|---|
| Cotherstone Parish Council – towards general maintenance | £500 |
In addition to the above, during the year, we were very pleased to have received the following grants:
| Teesdale Action Partnership Neighbourhood Budget – new infant unit | £13,000 |
|---|---|
| Cotherstone Parish Council (50% of a £1.4k grant towards the new | £700 |
| infant unit) | |
| Durham County Council – vintage bench project | £545 |
All fundraising, grants and donations, together with payments during the year can be seen in detail in the accounts.
Grass and weed control services were outsourced for the 2022 season and continue to be for 2023. We thank Richard Toward for his help.
The Future
Overall, we are very pleased to report a closing general cash reserve of £9k.
At the year end, we also hold funds already committed or allocated to various projects the largest being £7k to complete the new infant unit (which was fully installed and open to the public in May 2023).
We are extremely grateful to the many funders and private donors who continue to support the charity.
The Park has been open since 2006 and we continue with our refurbishment plan commenced 3 years ago. Whilst repairs are the first approach, some of the play equipment and Park furniture is coming to the end of its useful life it needs to be removed. We hope to replace with similar items as endorsed by our Park Users survey in 2022. Where grants are not available, the general reserves will be appropriately utilised but only within the restraints of holding a sufficient liquidity buffer to meet essential costs in order to keep the Park open.
The new lease discussions and refurbishment is a milestone in the life of Cotherstone Park and it is exciting to be molding and enhancing the Park for the next stage of its life. This new vision for the Park requires new trustees, volunteers and capital grants and the current trustees are working hard to make this happen and go into 2023/24 with optimism with a sound financial operating base.
The charity is grateful for the existing trustees to continue in post until the successful execution of a succession plan.
P lay @ cotherstone accounts for the year ended 31 March 2023
Prepared by:
Dated: ...............................
Signed: .............................. (Anna Urbanowicz, Treasurer)
These accounts were independently reviewed by Mrs T Wilcox on 24th June 2023.
Accepted and approved on behalf of the Trustees:
Dated: ...............................
Signed: ..............................
(Mark Windle, Chair)
play @ cotherstone
Registered 1174041 incorporated 31 July 17
ACCOUNTS FOR YEAR ENDED 31 MARCH 2023
| General Purpose Fund from activity in the period - Unrestricted Funds Receipts and Payments Account Income received Donations for stock after events World Cup Sweep - donations Eurovision Sweep - donations Early Donations to Bonfire 2022 CPC - Annual maintenance donation Fun Weekend 2022 Donations & Takings Donations from individuals and other groups for the use of equipment Donation from the Fun Weekend to the Bonfire 2022 Bonfire 2022 Donations & Takings Refund of postage from Jupiter Investment Income Bank Interest TOTAL INCOME Expenditure New gate for Fitzhugh and fixings Maintenance - materials Fun Weekend 2022 expenses Meadow Cutting & hedges - Mr Gill (outside grant) Bonfire 2022 expenses Annual Rent 2022 World Cup Sweep - prizes Eurovision Sweep - prizes set aside for May 23 Grass maintenance and strimming services - R Toward Vingage Benches - costs not covered by grant ROSPA inspection Annual Insurance Jan 2023 HSBC bank charges deducted from final transfer cheque TOTAL EXPENDITURE NET RESULT FROM ACTIVITIES Transfer to Reserve for Lease Cessation or Renewal NET CONTRIBUTION TO GENERAL RESERVES BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD |
2023 £ 30.00 320.00 370.00 245.00 500.00 667.49 180.00 500.00 3708.73 3.50 0.00 6524.72 59.80 466.33 353.70 156.00 1026.32 200.00 120.00 170.00 1500.00 305.79 275.00 454.32 5.40 5092.66 1432.06 500.00 932.06 8092.05 |
|---|---|
| 9024.11 |
| Reserve for Lease Cessation or Renewal - Unrestricted Funds Incoming reserve transfers or income Transfer from General Reserve TOTAL INCOME Outgong reserve transfers or payments TOTAL EXPENDITURE NET RESULT FOR THE PERIOD BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD Durham County Council - Vintage Bench Project Restricted Funds Receipts and Payments Account Income received Grant received TOTAL INCOME Expenditure Materials to upgrade and install vintage benches TOTAL EXPENDITURE NET RESULT FOR THE PERIOD BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD Durham County Council - Replacement Infant Unit Restricted Funds Receipts and Payments Account Income received Grant received TOTAL INCOME Expenditure Deposit to supplier to order main equipment TOTAL EXPENDITURE NET RESULT FOR THE PERIOD BALANCE BROUGHT FORWARD BALANCE CARRIED FORWARD |
2023 500.00 500.00 0.00 500.00 500.00 |
|---|---|
| 1000.00 | |
| 2023 £ 545.00 545.00 545.00 545.00 0.00 0.00 |
|
| 0.00 | |
| 2023 £ 13000.00 13000.00 7366.25 7366.25 5633.75 0.00 |
|
| 5633.75 |
| Cotherstone Parish Council - Replacement Infant Unit | ||
|---|---|---|
| Restricted Funds | ||
| Receipts and Payments Account | 2023 | |
| Income received | £ | |
| Grant awarded £1,400 - 50% paid in 2022/23 | 700.00 | |
| TOTAL INCOME | 700.00 | |
| Expenditure | ||
| 0.00 | ||
| TOTAL EXPENDITURE | 0.00 | |
| NET RESULT FOR THE PERIOD | 700.00 | |
| BALANCE BROUGHT FORWARD | 0.00 | |
| BALANCE CARRIED FORWARD | 700.00 | |
| STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2023 | ||
| Cash at bank as at 1 April 2022 brought forward | ||
| Petty Cash held | 150.08 | |
| HSBC Bank plc - current account | 8344.21 | |
| HSBC Bank plc - deposit account | 0.01 | |
| Co-Op Bank plc - current account | 97.75 | |
| Plus total gross income for the year of activity | 20769.72 | |
| Less total expenditure for the year of activity | 13003.91 | |
| Cash at bank as at 31 March 2023 | ||
| Petty Cash held for events | 381.33 | |
| Co-Op Bank plc - current account | 15976.53 | |
| TOTAL ASSETS | 16357.86 | |
| £ | £ | |
| Funds held at 31 March 2023 | ||
| Unrestricted Funds | ||
| General Purpose Fund arising from activities | 9024.11 | |
| Reserve for Lease Cessation or Renewal | 1000.00 | |
| Restricted Funds | ||
| Durham County Council - Replacement Infant Unit | 5633.75 | |
| Cotherstone Parish Council - Replacement Infant Unit | 700.00 | |
| TOTAL FUNDS | 16357.86 |