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2023-08-31-accounts

REGISTERED COMPANY NUMBER: 10754974 (England and Wales) REGISTERED CHARITY NUMBER: 1180644

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2022 TO 31 AUGUST 2023

FOR

PARK AVENUE BRADFORD LIMITED

Fortus Limited Business Advisors & Accountants Equinox House Clifton Park, Shipton Road York Yorkshire YO30 5PA

PARK AVENUE BRADFORD LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS For The Period 1 June 2022 to 31 August 2023

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 13
Detailed Statement of Financial Activities 14 to 15

PARK AVENUE BRADFORD LIMITED

REPORT OF THE TRUSTEES For The Period 1 June 2022 to 31 August 2023

The Trustees present their report and financial statements for the year ended 31 August 2023 and confirm they comply with the Charities Act 2011, the governing document, the Companies Act 2006 and the Charities (FRS 102) SORP.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity's objects are for the benefit of the public generally and, in particular to:

Grantmaking

The income of the Charity is applied at the discretion of the Trustees, subject to the objects of the Charity. Donations are accounted for when approved.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The charity welcomed the addition of an impressive purpose-built, multi-lane, 'cricket-dome' facility on to the site, the first of its kind in the country, and is immensely grateful to the ECB and to Bradford Council for funding and procurement support.

The range of ground equipment was expanded extensively, thanks again to ECB funding, and will provide the ability to support other local clubs and grounds.

The ground was in constant use throughout the summer with well over 100 games played and the annual Cricket Festival Week, held in the first week in August and sponsored by Barrett Steel, was once again a great success. Summer activities for children were well attended and much appreciated.

The charity will look to continue to provide and promote the facilities for the playing of cricket at, but not exclusively, the Park Avenue Cricket Ground in Bradford as well as continuing to fulfil the Charities stated aims and objectives.

FINANCIAL REVIEW

Financial position

The amount of income during the year was £395,308 (2022 - £4,378) and the expenditure was £40,590 (2022 - £21,654). The charity's net income was £354,718 (2022: deficit £17,276).

Reserves policy

The Charity's total funds at 31 August 2023 was £359,131 (2022: £4,413). This includes restricted funds of £9,864 and a designated fixed asset fund of £341,592. This leaves free reserves of £7,675 (2022: £4,413).

Cash balances are maintained to be able to meet outgoings and donation obligations from time to time. The Charity has the power to invest any funds that are not immediately required in any investments, securities or property.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

PARK AVENUE BRADFORD LIMITED

REPORT OF THE TRUSTEES

For The Period 1 June 2022 to 31 August 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Under the Trust Deed, the appointment of new Trustees can only be made by the Founder Members, Yorkshire County Cricket Club, Yorkshire Cricket Foundation and the Yorkshire Cricket Board. Thereafter, the Trustees shall have power at any time to appoint any person to be a Trustee.

Organisational structure

Park Avenue Bradford Limited is a company limited by guarantee (number 10754974) and a charity established by Constitution and registered with the Charity Commission (registered charity number 1180644).

Related parties

None of the Trustees had an interest in any of the Charity's contracts either during or at the end of the financial year.

Risk management

The key risk faced by the Charities is maintaining the Park Avenue Cricket Ground in an appropriate state to fulfil the requirements of the local community to use it as a sporting venue. This is both a financial challenge and a security challenge. To mitigate this risk the Charity looks for donations which can both be used for improving facilities but also security to help maintain facilities.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

10754974 (England and Wales)

Registered Charity number

1180644

Registered office

Headingley Cricket Ground Leeds West Yorkshire LS6 3DP

Trustees

A M Dawson (resigned 29.3.24)

S R Hartley P A Hudson (resigned 30.9.22) P A Malik Y Mohammed W G Saville (resigned 10.11.23)

These Trustees constitute Directors of the Charitable Company for the purposes of the Companies Act 2006.

Independent Examiner

Frances Howard, FCA Fortus Limited Business Advisors & Accountants Equinox House Clifton Park, Shipton Road York Yorkshire YO30 5PA

Page 2

PARK AVENUE BRADFORD LIMITED

REPORT OF THE TRUSTEES

For The Period 1 June 2022 to 31 August 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also directors of Park Avenue Bradford Limited for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice).

Company 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those 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 company 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 UK governing the preparation and dissemination of the financial statements may differ from legislation in other jurisdictions.

This report is prepared in accordance with the provisions applicable to small companies.

Approved by order of the board of trustees on 23 May 2024 and signed on its behalf by:

Y Mohammed (May 23, 2024 15:59 GMT+1)

Y Mohammed - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARK AVENUE BRADFORD LIMITED

Independent examiner's report to the trustees of Park Avenue Bradford Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 June 2022 to 31 August 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

F Howard

F Howard (May 23, 2024 16:18 GMT+1)

Frances Howard, FCA

Fortus Limited Business Advisors & Accountants Equinox House Clifton Park, Shipton Road York Yorkshire YO30 5PA

23 May 2024

Page 4

PARK AVENUE BRADFORD LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For The Period 1 June 2022 to 31 August 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
312,404
Charitable activities
3
Hire of facilities
9,360
Other income
472
Total income
322,236
EXPENDITURE ON
Charitable activities
4
Repairs & Maintenance
18,016
Office and administration
18,971
Other
3,603
Total expenditure
40,590
NET INCOME/(EXPENDITURE)
281,646
Transfers between funds
14
63,208
Net movement in funds
344,854
RECONCILIATION OF FUNDS
Total funds brought forward
4,413
TOTAL FUNDS CARRIED FORWARD
349,267
Restricted
fund
£
73,072
-
-
73,072
-
-
-
-
73,072
(63,208)
9,864
-
9,864
Period
1.6.22
to
Year ended
31.8.23
31.5.22
Total
Total
funds
funds
£
£
385,476
-
9,360
4,378
472
-
395,308
4,378
18,016
9,892
18,971
11,545
3,603
217
40,590
21,654
354,718
(17,276)
-
-
354,718
(17,276)
4,413
21,689
359,131
4,413

The notes form part of these financial statements

Page 5

PARK AVENUE BRADFORD LIMITED

BALANCE SHEET 31 August 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
341,592
CURRENT ASSETS
Debtors
11
18,848
Cash at bank
(8,557)
10,291
CREDITORS
Amounts falling due within one year
12
(2,616)
NET CURRENT ASSETS
7,675
TOTAL ASSETS LESS CURRENT LIABILITIES
349,267
NET ASSETS
349,267
FUNDS
14
Unrestricted funds
Restricted funds
TOTAL FUNDS
Restricted
fund
£
-
-
9,864
9,864
-
9,864
9,864
9,864
2023
Total
funds
£
341,592
18,848
1,307
20,155
(2,616)
17,539
359,131
359,131
349,267
9,864
359,131
2022
Total
funds
£
-
564
3,946
4,510
(97)
4,413
4,413
4,413
4,413
-
4,413

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 May 2024 and were signed on its behalf by:

Y Mohammed (May 23, 2024 15:59 GMT+1)

Y Mohammed - Trustee

The notes form part of these financial statements

Page 6

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For The Period 1 June 2022 to 31 August 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donated services are accounted for at a reasonable estimate of their value to the charity and are included in the statement of financial activities as income when receivable.

Expenditure

Liabilities are recognised 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 attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 10% on cost Plant and machinery - 10-33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance 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 explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 7

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

2. DONATIONS AND LEGACIES

Donations
Grants
Donated services and facilities
Period
1.6.22
to
Year ended
31.8.23
31.5.22
£
£
7,500
-
73,072
-
304,904
-
385,476
-

Donated services and facilities includes donated assets of £287,694 from City of Bradford Metropolitan Council, donated services from Yorkshire County Cricket Club of £16,377 for staff costs and services, and donated services from 3 individuals of £833 for accountancy services.

Grants received, included in the above, are as follows:

Period
1.6.22
to Year ended
31.8.23 31.5.22
£ £
Morrisons Foundation 73,072 -
INCOME FROM CHARITABLE ACTIVITIES
Period
1.6.22
to Year ended
31.8.23 31.5.22
Activity £ £
Pitch Hire Hire of facilities 4,250 3,440
Net Hire Hire of facilities 5,110 938
9,360 4,378

3. INCOME FROM CHARITABLE ACTIVITIES

4. CHARITABLE ACTIVITIES COSTS

Repairs & Maintenance
Office and administration
Direct
Costs
£
18,016
18,971
36,987

continued...

Page 8

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

5. SUPPORT COSTS

SUPPORT COSTS
Governance
Finance
costs
Totals
£ £ £
Other expenditure 215 3,388 3,603
Support costs, included in the above, are as follows:
Period
1.6.22
to Year ended
31.8.23 31.5.22
Other
resources Total
expended activities
£ £
Bank charges 215 182
Accountancy fees 833 -
Independent examiners fees 2,520 -
Other governance costs 35 35
3,603 217

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1.6.22
to Year ended
31.8.23 31.5.22
£ £
Depreciation - owned assets 10,227 -

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 August 2023 nor for the year ended 31 May 2022.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 August 2023 not the year ended 31 May 2022.

continued...

Page 9

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

8. STAFF COSTS


Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the period was as follows:

Total
No employees received emoluments in excess of £60,000.
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Charitable activities
Hire of facilities
EXPENDITURE ON
Charitable activities
Repairs & Maintenance
Office and administration
Other
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
Period
1.6.22
to
Year ended
31.8.23
31.5.22
£
£
15,696
9,724
503
559
178
239
16,377
10,522

Period
1.6.22
to
Year ended
31.8.23
31.5.22
1
1
Unrestricted
fund
£
4,378
9,892
11,545
217
21,654
(17,276)
21,689
4,413

continued...

Page 10

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

10. TANGIBLE FIXED ASSETS

Improvements
to
Plant and
property
machinery
£
£
COST
Additions
13,200
338,619
DEPRECIATION
Charge for year
1,100
9,127
NET BOOK VALUE
At 31 August 2023
12,100
329,492
At 31 May 2022
-
-
Totals
£
351,819
10,227
341,592
-

Included in Plant and Machinery are donated assets with a net book value at 31 August 2023 of £281,940 (2022: £nil).

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Accruals and deferred income
2023
£
18,242
606
18,848
2023
£
7
73
2,536
2,616
2022
£
-
564
564
2022
£
-
-
97
97

13. LEASING AGREEMENTS

Tenancy at will

On 22 May 2017 City of Bradford Metropolitan District Council granted a tenancy at will to Park Avenue Bradford Limited to use the cricket ground, pavilion and nets for a peppercorn rent of £1 per annum and to take over the maintenance of the site. If Park Avenue Bradford Limited vacates the site the tenancy is terminated.

continued...

Page 11

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

14. MOVEMENT IN FUNDS

Unrestricted funds
General Fund
Fixed Asset Fund
Restricted funds
Morrisons Grant Fund
TOTAL FUNDS
Net
movement
At 1.6.22
in funds
£
£
4,413
291,873
-
(10,227)
4,413
281,646
-
73,072
4,413
354,718
Transfers
between
funds
£
(288,611)
351,819
63,208
(63,208)
-
At
31.8.23
£
7,675
341,592
349,267
9,864
359,131

Net movement in funds, included in the above are as follows:

Movement
Income Expenditure in funds
£ £ £
Unrestricted funds
General Fund 322,236 (30,363) 291,873
Fixed Asset Fund - (10,227) (10,227)
322,236 (40,590) 281,646
Restricted funds
Morrisons Grant Fund 73,072 - 73,072
TOTAL FUNDS 395,308 (40,590) 354,718
Comparatives for movement in funds
Net
movement At
At 1.6.21 in funds 31.5.22
£ £ £
Unrestricted funds
General Fund 21,689 (17,276) 4,413
TOTAL FUNDS 21,689 (17,276) 4,413
Comparative net movement in funds, included in the above are as follows:
Movement
Income Expenditure in funds
£ £ £
Unrestricted funds
General Fund 4,378 (21,654) (17,276)
TOTAL FUNDS 4,378 (21,654) (17,276)

continued...

Page 12

PARK AVENUE BRADFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued For The Period 1 June 2022 to 31 August 2023

14. MOVEMENT IN FUNDS - continued

Restricted funds:

Morrisons grant fund - This fund represents a restricted grant by The Morrisons Foundation for the purchase of capital equipment. The transfer represents the movement of assets into the Fixed Asset fund.

15. RELATED PARTY DISCLOSURES

The charity received £7,500 capital contribution from Yorkshire County Cricket Club.

Yorkshire County Cricket Club are funding the payroll costs of £16,377 (2022: nil), and payment of a fine of £375 (2022: nil), and this was outstanding at the year end.

Page 13

PARK AVENUE BRADFORD LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

For The Period 1 June 2022 to 31 August 2023

Period
1.6.22
to Year ended
31.8.23 31.5.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 7,500 -
Grants 73,072 -
Donated services and facilities 304,904 -
385,476 -
Charitable activities
Pitch Hire 4,250 3,440
Net Hire 5,110 938
9,360 4,378
Other income
Sundry income 472 -
Total income 395,308 4,378
EXPENDITURE
Charitable activities
Wages 15,696 9,724
Social security 503 559
Pensions 178 239
Rates and water 425 1,082
Light and heat 480 1,563
Sundries - 1,022
Groundsman equipment 3,120 3,898
Security 2,335 2,575
Operations 2,597 661
Waste disposal 1,426 114
Depreciation of tangible fixed assets 10,227 -
36,987 21,437
Support costs
Finance
Bank charges 215 182
Governance costs
Accountancy fees 833 -
Independent examiners fees 2,520 -
Other governance costs 35 35
3,388 35

This page does not form part of the statutory financial statements

Page 14

PARK AVENUE BRADFORD LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES

For The Period 1 June 2022 to 31 August 2023

Period
1.6.22
to Year ended
31.8.23 31.5.22
£ £
Total expenditure 40,590 21,654
Net income/(expenditure) 354,718 (17,276)

This page does not form part of the statutory financial statements

Page 15

Park Avenue Bradford accounts 2023 full

Final Audit Report

2024-05-23

Created: 2024-05-23 By: F Howard (frances.howard@fortus.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAepJ-jj_-FQIvSVm5K6mNAQSqh1GGoAvB

"Park Avenue Bradford accounts 2023 full" History

Document created by F Howard (frances.howard@fortus.co.uk) 2024-05-23 - 2:35:54 PM GMT

Document emailed to Y Mohammed (yproperty@aol.com) for signature 2024-05-23 - 2:35:59 PM GMT

Email viewed by Y Mohammed (yproperty@aol.com) 2024-05-23 - 2:58:37 PM GMT

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