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2023-03-31-accounts

2022/2023 Annual Report

Period Covered: 01.04.2022 - 31.03.2023

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Friends of Victoria Park, Stretford Reference and administration information

Charity number 1179731 Registered office and operational address Victoria Park Community Building Victoria Park Stretford Manchester M32 0AD

Trustees

Trustees who served during the year and up to the date of this report were as follows: Shelly Quinton-Hulme

Ita Kirrane Simon Bramhall Christine Barry Tom Ross Resigned 28[th] January 2023 Stephen Adshead Suzy Woods Jean Napier Margaret Longworth Resigned 19th July 2022 Karin Miller Resigned 12th July 2022 Habeeba Bharat Resigned 13[th] December 2022 Julie Bramall Appointed 20th August 2022 Carol Hodgson Appointed 20th August 2022 Anne Clayson Elizabeth Tresnan Appointed 28[th] August 2023 Dan Adamson Appointed 28[th] August 2023 Nicola Bray Appointed 9[th] January 2023

Key management personnel

Office manager / CEO – Jane Kilworth Café Manager – Gillian Clare Booth / Kayleigh Flaherty

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mailing

Independent examiner

Patrick Morrello, Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS.

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

The trustees present their report and the unaudited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

The Friends of Victoria Park, Stretford formed and constituted in March 2002 as a community group. During 2018 we gained registered charity status as a charitable incorporated organisation in preparation for running The Tearoom and The Community Building. Our constitution can be found on our website.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The Friends of Victoria Park, Stretford formed and constituted in March 2002 as a community group. During 2018 we gained registered charity status as a CIO in preparation for running The Tearoom and The Community Building. Our constitution can be found on our website.

Objects

Our charitable aim is as follows: For the benefits of the inhabitants of Stretford, to provide or assist in the provision of facilities for recreation and other leisure time occupation in the interests of social welfare with the object of improving their conditions of life for the inhabitants of the area in particular but not exclusively by the preservation, promotion, support, assistance and improvement of Victoria Park

We formed to save and restore our local park which had become a no-go zone due to it being so neglected by Trafford Council. Over the past 20 years we have worked really hard to make improvements and stage wonderful events that bring our community together and raise funds for the park improvements. We review our mission / Vision / goal / aims and behaviours each year.

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

----- Start of picture text -----
OUR MISSION To ensure Victoria Park remains as one of the best community hubs and visitor
attractions in Stretford / Trafford.
[What we do]
OUR VISION To be a welcoming, vibrant park; the vital green heart of our urban community;
offering modern facilities, and yet maintaining elements of its Victorian heritage.
[What we want to be]
OUR GOALS  A well-maintained park for all;
 A broad, diverse and socially inclusive set of volunteers;
[What we must  An exciting events calendar throughout the year;
achieve]  Partnership working with other groups in Stretford / Trafford and
Trafford Council;
 A well run and accessible community building / café;
 Harnessing local talent / expertise;
 An educational resource and signposting facility
 Reduce inequality in Stretford
OUR BEHAVIOURS &  Integrity;
PRINCIPLES  Opportunities and Respect for All;
 Families and Friendships
[How we will work]  Inclusivity;
 Responsive to community needs;
 Caring & Supportive;
 Ethical; & Sustainable
----- End of picture text -----

Registered Office: Victoria Park Community Building, Victoria Road, Stretford, Manchester, M32 0AD

Our constitution can be found on our website and is dated 24.07.2018. It uses the template for a CIO Foundation model constitution [http://fovps.org.uk/governance/]

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

Our Year in review – Chairperson’s Report

Another really challenging time for us as a charity. We are still learning how to run a community building, whilst trying to build a team, and contend with the after effects of Covid and the cost of living crisis – we definitely didn’t get everything right!

We have struggled with staffing and capacity issues throughout the year which meant that we have not started to deliver some of the things we had hoped to be up and running by now. This has had a knock on effect to our income generation and as such we are not where we hoped we would be at this stage.

We have spent some time looking at what we can offer going forwards and how we need to be structured to operate effectively.

Our main achievements this year are as follows:

The Friends of Victoria Park, Stretford have not had any reportable accidents or incidents during this period.

Structure, governance and management

The Board of Trustees are responsible for setting the long-term direction of the group and ensuring good governance for the charity is always adhered to. They are also there to further the charity’s objects as set out in the governing document. They will also ensure financial probity and be the accountable body for the group. They will report to our community via an annual report and annual accounts and an Annual General Meeting to which the public are invited.

All trustees are volunteers, none receive any renumeration for their services, and are local people voted onto the board due to their skills or interest in the group.

Our Trustees are able to serve for 3 consecutive terms of office before taking at least a year off from the board.

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

FOVPS Trustees - Terms of Office - as at 04.02.24

----- Start of picture text -----
Date of
Term of Terms Date of office up for
Trustee Appointment
Office Served renewal
to the board
Christine Barry 24.07.2018 3 years 2 24.07.2024
Ita Kirrane 24.07.2018 3 years 2 24.07.2024
Shelly Quinton-Hulme 24.07.2018 3 Years 2 24.07.2025
Carol Hodgson 20.08.2022 3 years 1 19.08.2025
Nicky Bray 09.01.2023 3 years 1 09.01.2026
Stephen Adshead 24.07.2018 3 years 2 14.05.2026
Suzy Woods 08.04.2020 3 years 2 08.04.2026
Anne Clayson 05.08.2021 3 years 2 05.08.2026
Elizabeth Tresnan 28.08.2023 3 years 1 28.08.2026
Asiya Yaqub 28.08.2023 3 years 1 28.08.2026
Dan Adamson 28.08.2023 3 years 1 28.08.2026
Simon Bramall 05.08.2021 3 years 1 Retired 29.01.2024
Jean Napier 24.07.2018 3 years 2 Retired 29.08.2023
Julie Bramall 20.08.2022 3 years 1 Retired 21.08.2023
Retired 28.01.2023 –
Tom Ross 24.07.2018 3 years 2 Emeritus Trustee title
conferred upon him
Habeeba Bhayat 03.09.2020 3 years 1 Retired 13.12.2022
Margaret Longworth 24.07.2018 3 years 2 Retired 19.07.2022
Karin Saenz-Miller 11.06.2020 3 years 1 Retired 12.07.2022
Charlotte Evans 08.04.2020 3 years 1 Retired 05.10.2021
Claudia De Carlo 08.04.2020 3 years 1 Retired 05.07.2021
Heather Jones 24.07.2018 2 years 1 Retired 05.08.2020
Rick Mullan-Louw 24.09.2018 3 years 1 Retired May 2020
Fiona McDonald-Naughton 24.07.2018 2 years 1 Office Vacated April 2020
Elizabeth Powell 24.07.2018 2 years 1 Office Vacated April 2020
Cath Johnston 24.07.2018 4 years 1 Retired April 2020
----- End of picture text -----

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

Financial review and reserves policy

The aim of the reserves policy is to ensure that the charity’s ongoing and future activities are reasonably protected from unexpected fluctuations in its income and expenditure. The board reviewed the reserves policy and agreed that a minimum level of unrestricted general funds, also known as free reserves, of £85,000 is appropriate given the risks faced by the charity and the sustainability of its different income streams. This equates to approximately three months of expenses. Free reserves at 31 March 2023 were in deficit by £16,756 (2022: £23,657 deficit).

The current reserves policy is 3 months expenses and we are working to restore this over the next 2 years by increasing the profit made in the Tea Room and Community Building. We have established a plan for working parties to share the workload with volunteers and this should mean that we are more efficient and effective. We are evaluating staff levels and also working with a café mentor to ensure that we are maximising café income.

Staffing issues continue to be a issue for us and the cost of level crisis is not helping. We are currently liaising with our funders/investors to ensure they are abreast with our situation and know what we are doing to amend our current financial situation. We are looking at all options to ensure the stability of the Community Building and our work within the park.

Going Concern

The trustees do not consider that there is any material uncertainty about the ability of the charity to continue as a going concern.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable group and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

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

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2023

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

01 / 03 / 2024 The trustees’ annual report has been approved by the trustees on ……………………………………….. and signed on their behalf by

Shelly Quinton-Hulme Chair

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Friends of Victoria Park Stretford

Independent examiner’s report to the trustees for the period ended 31 March 2023

I report on the accounts of the charity for the year ended 31 March 2023 set out on pages 9 to 23.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales.

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Other matters

Your attention is to drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that, in any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Patrick Morrello ACA Third Sector Accountancy Limited Holyoake House Hanover Street Manchester, M60 0AS

01 / 03 / 2024

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Friends of Victoria Park, Stretford

Statement of Financial Activities

for the year ended 31 March 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
69,860
Charitable activities
4
145,024
Investments
5
30
Total income
214,914
Expenditure on:
Charitable activities
6
233,951
Total expenditure
233,951
7
(19,037)
Transfer between funds
-
Net movement in funds for the year
(19,037)
Reconciliation of funds
Total funds brought forward
506,331
Total funds carried forward
487,294
Net income/(expenditure) for the year		 Restricted
funds
£
97,350
-
-
97,350
97,589
97,589
(239)
-
(239)
38,842
38,603		 Total funds
2023
£
167,210
145,024
30
312,264
331,540
331,540
(19,276)
-
(19,276)
545,173
525,897		 Unrestricted
funds
£
59,500
179,322
-
238,822
288,543
288,543
(49,721)
20,975
(28,746)
535,077
506,331		 Restricted
funds
£
110,848
-
-
110,848
100,675
100,675
10,173
(20,975)
(10,802)
49,644
38,842		 Total funds
2022
£
170,348
179,322
-
349,670
389,218
389,218
(39,548)
-
(39,548)
584,721
545,173

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Friends of Victoria Park, Stretford Charity number 1179731

Balance sheet as at 31 March 2023

Note
£
£
Fixed assets
Tangible assets
12
505,506
Total fixed assets
505,506
Current assets
Stock
4,538
Debtors
13
10,719
Cash at bank and in hand
56,086
Total current assets
71,343
Liabilities
Creditors: amounts falling
due in less than one year
14
(19,098)
Net current assets
52,245
Total assets less current liabilities
557,751
Creditors: amounts falling
due after more than one year
15
(30,854)
Net assets
526,897
The funds of the charity:
Restricted income funds
16
38,603
Unrestricted income funds
17
487,294
Total charity funds
525,897
2023		 £
£
529,988
529,988
6,377
10,407
62,163
78,947
(31,291)
47,656
577,644
(32,471)
545,173
38,842
506,331
545,173
2022

For the year in question, the charity was entitled to exemption from an audit under section 144 of the Charities Act 2011. The Charity Commission has not ordered an audit to be carried out under Section 146 of Charities Act 2011.

The notes on pages 11 to 23 form part of these accounts.

01 / 03 / 2024

Approved by the trustees on ................................. and signed on their behalf by:

Shelly Quinton-Hulme (Trustee)

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Friends of Victoria Park, Stretford

1 Accounting policies

Notes to the accounts for the year ended 31 March 2023

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a 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) issued in October 2019 - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Friends of Victoria Park, Stretford meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling.

b Going concern

At the time of signing the accounts, there were material uncertainties surrounding the operation of the cafe which cast doubt on the ability of the charity to continue in its current form as a going concern. The trustees are investigating all options available to them and have made progress towards finding a satisfactory solution.

c Judgments and estimates

The trustees have made no key judgments which have a significant effect on the accounts.

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 amount of assets and liabilities within the next reporting period.

d Preparation of the accounts on a going concern basis

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

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

e Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

f Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

h Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

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 classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

j Tangible fixed assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold building 4% Office fixtures and other equipment 33%

k Stock

Stock is included at the lower of cost or net realisable value. In general, cost is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving, and defective stocks. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

l Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n 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.

o Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

p Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 10. There were no outstanding contributions at the year end.

2 Legal status of the charity

The charity is a charitable incorporated organisation registered with the Charity Commisssion in the United Kingdom (England and Wales) and has no share capital. In the event of the charity being wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

3
Income from donations and legacies
Donations
Grants
Total
4
Income from charitable activities
Rent
Event income
Activities
Café sales
Total		 Unrestricted
£
9,139
60,721
69,860
Unrestricted
£
8,784
2,397
133,843
145,024		 Restricted
£
546
96,804
97,350
Restricted
£
-
-
-
-
-		 Total 2023
£
9,685
157,525
167,210
Total 2023
£
8,784
-
2,397
133,843
145,024		 Unrestricted
£
4,374
55,126
59,500
Unrestricted
£
9,010
6,622
-
163,690
179,322		 Restricted
£
1,052
109,796
110,848
Restricted
£
-
-
-
-
-		 Total 2022
£
5,426
164,922
170,348
Total 2022
£
9,010
6,622
-
163,690
179,322

In the previous year the café income was treated as other trading income. The treatment has been changed this year as the trustees consider that the café activity is ancillary to the primary purposes of the charity. The income of the café are therefore now treated as income from charitable activities, and this change has also been made to the prior period figures.

----- Start of picture text -----
5 Investment income `
Unrestricted Restricted Total 2023 Unrestricted Restricted Total 2022
£ £ £ £ £ £
Interest on bank deposits 30 - 30 - - -
----- End of picture text -----

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

6 Analysis of expenditure on charitable activities

Café
Café staff costs
Café consumables
Café general expenses
Other staff costs
Premises
Office and administration
Project costs
IT and communications
Marketing and publicity
Legal and professional
Accountancy
Depreciation
Restricted expenditure
Unrestricted expenditure
Finance costs		 2023
£
125,867
41,285
11,889
80,056
12,039
4,244
19,813
2,156
234
1,832
1,500
26,076
4,549
331,540
97,589
233,951
331,540		 2022
£
137,701
53,557
13,308
92,200
8,453
9,526
28,843
3,001
-
9,172
2,400
25,958
5,099
389,218
100,675
288,543
389,218

In the previous year the café expenditure was treated as a cost of generating funds. The treatment has been changed this year as the trustees consider that the café activity is ancillary to the primary purposes of the charity. The costs of the café are therefore now treated as costs of charitable activities, and this change has also been made to the prior period figures.

This is stated after charging/(crediting): 2023
2022
Depreciation £
£
26,076
491
Interest payable 4,549
797
Independent examiner's fee 1,500
1,200

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

8 Staff costs

Staff costs during the year were as follows:

Wages and salaries
Social security
Pension costs		 2023
£
185,452
6,789
2,978
195,219		 2022
£
212,307
8,257
3,134
223,698

No employee has employee benefits in excess of £60,000 (2022: nil).

The average number of staff employed during the period was 17 (2022: 21).

The key management personnel of the charity comprise the trustees, the office manager and the café manager. The total employee benefits of the key management personnel of the charity were £49,618 (2022: £66,229).

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2022: nil).

No members of the management committee received travel and subsistence expenses (2022: nil).

Aggregate donations from related parties were £nil (2022: £Nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee of the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year.

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

10 Government grants

The government grants recognised in the accounts were as follows:

Trafford Metropolitan Borough Council
The National Lottery
Jubilee - Forever Manchester
HMRC furlough scheme		 2023
£
26,469
49,935
10,000
-
86,404		 2022
£
6,590
20,000
-
1,671
28,261

There were no unfulfilled conditions and contingencies attaching to the grants at 31 March 2023.

11 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

12 Fixed assets: tangible assets

Cost
Additions
Depreciation
Charge for the year
Net book value
At 31 March 2023
At 1 April 2022
At 31 March 2022
At 31 March 2023
At 1 April 2022
At 31 March 2023		 Building
£
538,090
1,094
539,184
21,524
21,567
43,091
496,093
516,566		 Equipment
£
18,347
500
18,847
4,925
4,509
9,434
9,413
13,422		 £
556,437
1,594
558,031
26,449
26,076
52,525
505,506
529,988
Total

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Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

13 Debtors

Trade debtors
Tax and social security
Other debtors
Prepayments
14
Creditors: amounts falling due within one year
Access to growth loan
Tax and social security
Pensions payable
Wages payable
Trade creditors
Other creditors and accruals
15
Creditors: amounts falling after more than one year
Access to growth loan		 2023
£
7,641
293
599
2,186
10,719
2023
£
7,344
3,329
-
-
3,905
4,520
19,098
2023
£
30,854
30,854		 2022
£
7,484
433
531
1,959
10,407
2022
£
7,162
12,965
1,109
1,758
4,352
3,945
31,291
2022
£
32,471
32,471

The access to growth loan is unsecured

18

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

16 Analysis of movements in restricted funds

Forrester Fund
Jubilee Funding
SSE - Finance systems
TMBC - HAF Easter 22
TMBC - HAF Easter 23
TMBC - HAF Winter 22
Yorkshire Bank
Donations
Total
TMBC - HAF Summer 22
A4A Together for Our
Planet
National Lottery -
Community CEO
National Lottery
Polytunnel
Sainsburys Neighbourly
THT CEO and core
funding
National Lottery -Events
23
THT Cooking Class Jan 23		 Balance at 1
April 2022
£
6,987
-
-
-
-
6,550
-
301
25,000
-
-
-
-
-
4
-
38,842		 Income
£
-
5,000
10,000
39,935
10,000
-
500
-
-
4,900
3,725
6,460
11,925
4,359
-
546
97,350		 Expenditure
£
(5,274)
(1,037)
(10,000)
(37,650)
-
(6,550)
(500)
(301)
(10,847)
(4,791)
(3,725)
(80)
(11,925)
(4,359)
(4)
(546)
(97,589)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at 31
March 2023
£
1,713
3,963
-
2,285
10,000
-
-
-
14,153
109
-
6,380
-
-
-
-
38,603

19

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

Comparative period

A4A Together for Our Planet
Access to Growth
Arnold Clarke Breakfast
Awards for all
Bright Ideas
Charity Service - Game Cafe
Charles Hayward
Clothworkers
Crowdfunder 1
Crowdfunder 3
GMCVO - Freshair Friday
GMCVO - Mental Well being
GMCVO walking grant
Kew Gardens
National Lottery Polytunnel
O2 Together
Postcode Lottery
School of Social Enterprise
Semble action fund
SSE - Finance systems
The Hideaway
Thriving Communities
THT CEO and core funding
THT - Digital Cafe
THT - Holiday Helpers
THT Easter
TMBC - Baby Friends
TMBC - HAF Easter
TMBC Standing Together
Trafford Building Grant
Winter Resilience
Yorkshire Bank
Total
Comic Relief/Groundwork
Green Health
TMBC - Inclusive
Neighbourhood - Christmas		 Balance at 1
April 2021
£
-
3,620
-
847
25
-
3,000
-
3,600
69
15,489
4,915
8,097
200
-
-
-
-
-
-
-
-
-
-
-
3,714
-
2,000
-
-
-
4,064
-
4
49,644		 Income
£
10,000
-
2,000
-
-
396
-
8,610
-
-
1,052
-
-
-
500
10,000
1,000
17,505
6,000
1,000
850
8,571
5,400
25,000
4,992
-
500
-
-
500
1,098
-
5,874
-
110,848		 Expenditure
£
(2,317)
(3,620)
-
(847)
(25)
(396)
(2,632)
(8,610)
(2,674)
(180)
-
(4,924)
(8,097)
(200)
(421)
(3,450)
(1,140)
(17,505)
(6,000)
(1,000)
(549)
(8,571)
(5,400)
-
(4,992)
(3,714)
(500)
(1,407)
(1,196)
(222)
(1,098)
(4,064)
(4,924)
-
(100,675)		 Transfers
£
(696)
-
(2,000)
-
-
-
(368)
-
(926)
111
(16,541)
9
-
-
(79)
-
140
-
-
-
-
-
-
-
-
-
-
(593)
1,196
(278)
-
-
(950)
-
(20,975)		 Balance at
31 March
2022
£
6,987
-
-
-
-
-
-
-
-
-
-
-
-
-
-
6,550
-
-
-
-
301
-
-
25,000
-
-
-
-
-
-
-
-
-
4
38,842

Funds transfers from restricted to unrestricted funds occurred where internal café expenses and room hire were charged to restricted funds or restricted fund were used to purchase fixed assets for the charity.

20

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

Name of restricted fund Description, nature and purposes of the fund A4A Together for our For getting investment ready planet Arnold Clarke Bonus Description needed Forrester Fund A trust fund money towards staffing our community room Jubilee Funding Nisa towards jubilee celebrations National Lottery - Community CEO CEO role and some core costs National Lottery - Events 23 Funding a calendar of community events in the park National Lottery To build a polytunnel in the park Polytunnel Sainsburys Neighbourly Towards planting projects and free school meals in the holidays SSE Finance Systems School of social entrepreneurs - To improve finance systems and cover core costs THT - CEO and core To cover CEO salary and core costs THT cooking class Jan 2023 Provide and deliver a cooking class TMBC - HAF Easter 22 TMBC - HAF Easter 23 Funding from Trafford council/central government to provide free school meal TMBC - HAF Summer 22 children with free meals and activity during school holidays TMBC - HAF Winter 22

21

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

17 Analysis of movement in unrestricted funds

Comparative period
Designated property
assets fund - The
Community Building
General fund
General fund
Designated property
assets fund - The
Community Building		 Balance at 1
April 2022
£
(23,657)
529,988
506,331
Balance at
1 April 2021
£
15,318
519,759
535,077		 Income
£
214,914
-
214,914
Income
£
238,822
-
238,822		 Expenditure
£
(212,384)
(21,567)
(233,951)
Expenditure
£
(267,020)
(21,523)
(288,543)		 Transfers
£
2,915
(2,915)
-
Transfers
£
(10,777)
31,752
20,975		 As at 31
March 2023
£
(18,212)
505,506
487,294
As at 31
March 2022
£
(23,657)
529,988
506,331

Name of unrestricted fund General fund

Description, nature and purposes of the fund

The free reserves after allowing for all designated funds

Designated property assets fund - the Community Building

The fixed assets are essential for the future operation of the charity and so are excluded from free reserves.

22

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2023 (continued)

18 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Creditors of more than one year
Total
Comparative period
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Creditors of more than one year
Total		 General
fund
£
505,506
(491,864)
(30,854)
(17,212)
General
fund
£
529,988
-
(521,174)
(32,471)
(23,657)		 Designated
funds
£
-
505,506
-
505,506
Designated
funds
£
529,988
-
529,988		 Restricted
funds
£
-
38,603
-
38,603
Restricted
funds
£
-
38,842
-
38,842		 Total 2023
£
505,506
52,245
(30,854)
526,897
Total 2022
£
529,988
-
47,656
(32,471)
545,173

19 Financial instruments

Financial instruments measured at amortised cost comprise the loan financing provided by Access to Growth to the charity.

Loan payable falling due within one year
Loan payable falling due in more than one year but in
less than five years		 2023
£
7,344
30,854
38,198		 2022
£
7,162
32,471
39,633

The loan is an unsecured fixed interest rate loan.

23

Doc ID: ba055702531f7993e46f3587e26dbb20f5232b05