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2024-03-31-accounts

2023/2024 Annual Report

Period Covered: 01.04.2023 - 31.03.2024

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

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 Resigned 29th January 2024 Christine Barry Stephen Adshead Suzy Woods Resigned 12th September 2024 Jean Napier Resigned 29 August 2023 Julie Bramall Resigned 21 August 2023 Carol Hodgson Anne Clayson Elizabeth Tresnan Appointed 28[th] August 2023 Dan Adamson Appointed 28[th] August 2023 Nicola Bray

Key management personnel

Office Manager/CEO - Jane Kilworth (until March 2024) General Manager – Daniel Good (started from July 2024)

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 2024

The trustees present their report and the unaudited financial statements for the year ended 31 March 2024.

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 Tea Room and The Community Building.

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.

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.

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2024

OUR MISSION
[What we do]		 To ensure Victoria Park remains as one of the best community hubs and
visitor attractions in Stretford / Trafford.
OUR VISION
[What we want to
be]		 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.
OUR GOALS
[What we must
achieve]
●
A well-maintained park for all;
●
A diverse and socially inclusive set of well trained volunteers and
staff working as one team;
●
An exciting events calendar throughout the year;
●
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
●
Encourage families to use the park and form friendships
OUR BEHAVIOURS
& PRINCIPLES
[How we will work]		 ●
Integrity;
●
Pride
●
Opportunities and Respect for all;
●
Accessible to all and inclusive
●
Equitable;
●
Responsive to community needs;
●
Caring & Supportive;
●
Ethical;& Sustainable

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 2024

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 remuneration for their services, and are local people voted onto the board due to their skills or interest in the group.

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2024

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

FOVPS Trustees - Terms of Office - as at 22.10.24

Trustee Date of
Appointmen
t to the
board		 Term of
Office		 Terms
Serve
d		 Date of office up for
renewal
Christine Barry 24.07.2018 3 years 3 24.07.2027
Ita Kirrane 24.07.2018 3years 3 24.07.2027
Shelly Quinton-Hulme 24.07.2018 3 Years 2 24.07.2025
Carol Hodgson 20.08.2022 3years 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
Jane McKie 25.04.2024 3years 1 25.04.2027
Anne Clayson 05.08.2021 3 years 2 05.08.2026
Elizabeth Tresnan 28.08.2023 3years 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
SuzyWoods 08.04.2020 3years 2 Retired 12.9.2024
Simon Bramall 05.08.2021 3 years 1 Retired 29.01.2024
Jean Napier 24.07.2018 3years 2 Retired 29.08.2023
Julie Bramall 20.08.2022 3 years 1 Retired 21.08.2023
Tom Ross 24.07.2018 3 years 2 Retired 28.01.2023 –
Emeritus Trustee title
conferred upon him
Habeeba Bhayat 03.09.2020 3 years 1 Retired 13.12.2022
Margaret Longworth 24.07.2018 3years 2 Retired 19.07.2022
KarinSaenz-Miller 11.06.2020 3 years 1 Retired12.07.2022
Charlotte Evans 08.04.2020 3 years 1 Retired 05.10.2021
Claudia De Carlo 08.04.2020 3years 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 4years 1 Retired April 2020

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2024

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 2024 were in deficit by £19,226 (2022: £16,212 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 and community events. 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 continues 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:

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Friends of Victoria Park Stretford Trustees’ annual report for the year ended 31 March 2024

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.

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.

The trustees’ annual report has been approved by the trustees on ……………………………………… 12 / 12 / 2024 .. 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 2024

I report on the accounts of the charity for the year ended 31 March 2024 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.

It is my responsibility to:

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

12 / 12 / 2024

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Friends of Victoria Park, Stretford Statement of Financial Activities for the year ended 31 March 2024

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
13,717
Charitable activities
4
160,461
Investments
5
59
Total income
174,237
Expenditure on:
Charitable activities
6
199,600
Total expenditure
199,600
7
(25,363)
Transfer between funds
(373)
Net movement in funds for the year
(25,736)
Reconciliation of funds
Total funds brought forward
488,294
Total funds carried forward
462,558
Net income/(expenditure) for the year		 Restricted
funds
£
63,187
-
-
63,187
85,837
85,837
(22,650)
373
(22,277)
38,603
16,326		 Total funds
2024
£
76,904
160,461
59
237,424
285,437
285,437
(48,013)
-
(48,013)
526,897
478,884		 Unrestricted
funds
£
70,860
145,024
30
215,914
233,951
233,951
(18,037)
-
(18,037)
506,331
488,294		 Restricted
funds
£
97,350
-
-
97,350
97,589
97,589
(239)
-
(239)
38,842
38,603		 Total funds
2023
£
168,210
145,024
30
313,264
331,540
331,540
(18,276)
-
(18,276)
545,173
526,897

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 2024

Note
£
£
Fixed assets
Tangible assets
12
479,761
Total fixed assets
479,761
Current assets
Stock
2,588
Debtors
13
7,394
Cash at bank and in hand
31,928
Total current assets
41,910
Liabilities
Creditors: amounts falling
due in less than one year
14
(26,491)
Net current assets
15,419
Total assets less current liabilities
495,180
Creditors: amounts falling
due after more than one year
15
(16,296)
Net assets
478,884
The funds of the charity:
Restricted income funds
16
16,326
Unrestricted income funds
17
462,558
Total charity funds
478,884
2024		 £
£
505,506
505,506
4,538
10,719
56,086
71,343
(19,098)
52,245
557,751
(30,854)
526,897
38,603
488,294
526,897
2023		 £
£
505,506
505,506
4,538
10,719
56,086
71,343
(19,098)
52,245
557,751
(30,854)
526,897
38,603
488,294
526,897
2023
505,506
52,245
557,751
(30,854)
526,897
38,603
488,294
526,897

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.

12 / 12 / 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

Notes to the accounts for the year ended 31 March 2024

1 Accounting policies

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 2024 (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.

i Expenditure and irrecoverable VAT

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 2024 (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 2024 (continued)

3 Income from donations and legacies

3
Income from donations and legacies
Donations
Donated goods and services
Grants
Total
4
Income from charitable activities
Rent
Event income
Activities
Café sales
Total
5
Investment income
Interest on bank deposits		 Unrestricted
£
5,141
5,616
2,960
13,717
Unrestricted
£
12,162
6,174
2,388
139,737
160,461
Unrestricted
£
59		 Restricted
£
-
-
63,187
63,187
Restricted
£
-
-
-
-
-
`
Restricted
£
-		 Total 2024
£
5,141
5,616
66,147
76,904
Total 2024
£
12,162
6,174
2,388
139,737
160,461
Total 2024
£
59		 Unrestricted
£
9,139
-
61,721
70,860
Unrestricted
£
8,784
-
2,397
133,843
145,024
Unrestricted
£
30		 Restricted
£
546
-
96,804
97,350
Restricted
£
-
-
-
-
-
Restricted
£
-		 Total 2023
£
9,685
158,525
168,210
Total 2023
£
8,784
-
2,397
133,843
145,024
Total 2023
£
30

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (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
7
Net income/(expenditure) for the year
This is stated after charging/(crediting):
Depreciation
Interest payable
Independent examiner's fee
Finance costs		 2024
£
79,605
65,420
12,464
56,476
17,747
5,820
15,222
3,113
991
4,628
1,610
25,746
(3,405)
285,437
85,837
199,600
285,437
2024
£
25,746
(3,405)
1,610		 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
2023
£
26,076
4,549
1,500

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Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

8 Staff costs

Staff costs during the year were as follows:

ff costs during the year were as follows:
Wages and salaries
Social security
Pension costs		 2024
£
126,655
5,970
1,936
134,561		 2023
£
185,452
6,789
2,978
195,219

No employee has employee benefits in excess of £60,000 (2023: nil).

The average number of staff employed during the period was 12 (2023: 17).

The key management personnel of the charity comprise the trustees, the CEO, the operations manager and the café manager. The total employee benefits of the key management personnel of the charity were £33,692 (2023: £49,618).

9 Trustee remuneration and expenses, and related party transactions

Neither the management committee nor any persons connected with them received any remuneration or reimbursed expenses during the year (2023: nil).

No members of the management committee received travel and subsistence expenses (2023: nil).

Aggregate donations from related parties were £120 (2023: £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 2024 (continued)

10 Government grants

The government grants recognised in the accounts were as follows:

Trafford Metropolitan Borough Council
The National Lottery
Jubilee - Forever Manchester		 2024
£
-
39,935
-
-
39,935		 2023
£
26,469
49,935
10,000
86,404

There were no unfulfilled conditions and contingencies attaching to the grants at 31 March 2024.

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 1 April 2023
At 31 March 2024
At 31 March 2023
At 31 March 2024
At 1 April 2023
At 31 March 2024		 Building
£
539,184
-
539,184
43,091
21,567
64,658
474,526
496,093		 Equipment
£
18,847
-
18,847
9,434
4,178
13,612
5,235
9,413		 £
558,031
-
Total
558,031
52,525
25,745
78,270
479,761
505,506

17

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

13 Debtors

13
Debtors
Trade debtors
Provision for doubtful debts
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
Trade creditors
Other creditors and accruals
15
Creditors: amounts falling after more than one year
Access to growth loan		 2024
£
3,544
(200)
-
1,687
2,363
7,394
2024
£
8,889
1,487
23
11,676
4,416
26,491
2024
£
16,296
16,296		 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

The access to growth loan is unsecured

18

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

16 Analysis of movements in restricted funds

Balance at 1
April 2023
£
1,713
Forrester Fund
3,963
-
-
-
2,285
10,000
-
Nisa - Coronation
-
RHS Dye Garden
14,153
109
TMBC - HAF Easter 23
6,380
TMBC - HAF Winter 23
-
-
Yorkshire Bank
-
Total
38,603
THT Cooking Class Jan 23
National Lottery -Events
23
Greater Manchester
Combined Authority Tree
Trail
National Lottery -
Community CEO
New Bricks
Together Energy Fund -
Forever Manchester
THT CEO and core
funding
John Lewis - Stretford
Shedders
Mcr Green Grant (dye
garden)
A4A Together for Our
Planet		 Income
£
-
-
10,000
1,000
2,367
39,935
-
-
500
5,000
-
-
-
1,385
2,500
500
63,187		 Expenditure
£
-
(3,963)
(7,566)
-
-
(35,468)
(10,000)
(373)
(500)
(2,940)
(14,153)
(109)
(6,380)
(1,385)
(2,500)
(500)
(85,837)		 Transfers
£
-
-
-
-
-
-
-
373
-
-
-
-
-
-
-
373		 Balance at 31
March 2024
£
1,713
-
2,434
1,000
2,367
6,752
-
-
-
2,060
-
-
-
-
-
-
16,326

19

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

Comparative period

Comparative period
Balance at 1
April 2022
£
A4A Together for Our Planet
6,987
Forrester Fund
-
Jubilee Funding
-
National Lottery - Community C
-
National Lottery -Events 23
-
National Lottery Polytunnel
6,550
Sainsburys Neighbourly
-
SSE - Finance systems
301
25,000
THT Cooking Class Jan 23
-
TMBC - HAF Easter 22
-
TMBC - HAF Easter 23
-
TMBC - HAF Summer 22
-
TMBC - HAF Winter 22
-
Yorkshire Bank
4
Donations
-
Total
38,842
THT CEO and core funding		 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

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: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

Name of restricted fund

Description, nature and purposes of the fund

A4A Together for our For getting investment ready planet Forrester Fund A trust fund money towards staffing our community room Greater Manchester Combined Authority Tree For improving Stretford green spaces and creating a tree trail Trail

John Lewis - Stretford Part of the Men in Sheds Association, aimed at improving wellbeing and Shedders reducing loneliness, whilst learning new skills such as woodwork in an informal Jubilee Funding Nisa towards jubilee celebrations Mcr Green Grant (dye To create a permanent community dye garden within Victoria Park. The project garden) will increase local people’s access to quality green

National Lottery - CEO role and some core costs Community CEO National Lottery - Events Funding a calendar of community events in the park 23 National Lottery To build a polytunnel in the park Polytunnel New Bricks Core costs – Fundraising from crowdfunder Nisa - Coronation Towards the Coronation event

To build a local network to gain knowledge of growing and using natural dye RHS Dye Garden plants, and ultimately to produce an accessible community 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 Provide and deliver a cooking class 2023 TMBC - HAF Easter 22 TMBC - HAF Easter 23 TMBC - HAF Summer 22 TMBC - HAF Winter 22 TMBC - HAF Winter 23 Together Energy Fund - Towards electricity bills Forever Manchester Yorkshire Bank

Funding from Trafford council/central government to provide free school meal children with free meals and activity during school holidays

To install benches within the park

21

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

17 Analysis of movement in unrestricted funds

Comparative period
Designated Funds
In Memorium planting
Shelly
Youth Council
Designated property
assets fund - The
Community Building
Designated property
assets fund - The
Community Building
General fund
General fund
Designated property
assets fund - The
Community Building		 Balance at 1
April 2023
£
(16,212)
504,506
488,294
Balance at
1 April 2022
£
(23,657)
529,988
506,331
Balance at 1
April 2023
£
505,506
505,506		 Income
£
171,212
3,025
174,237
Income
£
215,914
-
215,914
Income
£
1,000
2,000
25
3,025		 Expenditure
£
(199,973)
-
(199,973)
Expenditure
£
(233,951)
-
(233,951)
Expenditure
£
-
-
-
-
-		 Transfers
£
25,746
(25,746)
-
Transfers
£
25,482
(25,482)
-
Transfers
£
(25,746)
-
-
-
(25,746)		 As at 31
March 2024
£
(19,227)
481,785
462,558
As at 31
March 2023
£
(16,212)
504,506
488,294
As at 31
March 2024
£
479,760
1,000
2,000
25
482,785

22

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436

Friends of Victoria Park, Stretford

Notes to the accounts for the year ended 31 March 2024 (continued)

General fund The free reserves after allowing for all designated funds

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

Designated property assets fund - the excluded from free reserves. Community Building In Memorium planting For plants from a park user Shelly Designated for Café alterations Youth Council For spending by the youth council

Tangible fixed assets
Net current assets/(liabilities)
Creditors of more than one year
Total
Comparative period
Tangible fixed assets
Net current assets/(liabilities)
Creditors of more than one year
Total		 General
fund
£
479,761
(482,692)
(16,296)
(19,227)
General
fund
£
505,506
(490,864)
(30,854)
(16,212)		 Designated
funds
£
-
481,785
-
481,785
Designated
funds
£
-
504,506
-
504,506		 Restricted
funds
£
-
16,326
-
16,326
Restricted
funds
£
-
38,603
-
38,603		 Total 2024
£
479,761
15,419
(16,296)
478,884
Total 2023
£
505,506
52,245
(30,854)
526,897

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		 2024
£
8,889
16,296
25,185		 2023
£
7,344
30,854
38,198

The loan is an unsecured fixed interest rate loan.

23

Doc ID: 121adcab944210e79b1d7c547fde9c7e362e6436