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2025-03-31-accounts

Charity registration number 1183830 (England and Wales)

HIGH HAZELS PARK

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

HIGH HAZELS PARK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Sheffield City Council is the sole Trustee of the charity, acting through the Charity Trustee Sub-Committee.

Charity Sub-Committee Members Cllr Richard Williams (Chair) Cllr Fran Belbin (Deputy Chair) Cllr Douglas Johnson (Group Spokesperson) Cllr M Chaplin Cllr K Crossthorn Charity number (England and Wales) 1183830 Principal address Sheffield City Council Parks and Countryside Centre in the Park Guildford Avenue Sheffield S2 2PL Independent examiner Melvin Bailey FCCA DChA for and on behalf of: Rogers Spencer Newstead House Pelham Road Nottingham NG5 1AP

HIGH HAZELS PARK

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 16

HIGH HAZELS PARK

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19).

Objectives and activities

High Hazels Park is situated in Darnall, Sheffield. The main walking entrance is on Senior Road, there is a car park and entrance at the end of Catley Road. The park is next to Tinsley Park Golf Course and 70 Acre Hill Nature Reserve. Public toilets are in the golf club house. There is a cafe, children's playground, adventure playground, sensory garden, cricket pitch, 5-a-side football pitch and tennis courts.

The charity’s governing documents

The objects of the charity are the provision and maintenance of a public park and recreation ground in Sheffield for the use of members of the public resorting thereto with the object of improving their conditions of life.

Achievements and performance

Significant activities and achievements against objectives

Sadly, the Friends of High Hazels Park disbanded but a volunteer group took up the maintenance of the beds the friends of group used to maintain. This group have continued to concentrate on the ornamental parts of the park, Formal and Sensory gardens, shrub beds, playground beds and ornamental orchards. All areas remain popular.

Additional Multi use Bins and benches have been installed within the park.

The dog training classes on the old bowling green have seen an increase in the number of users, resulting in additional session being provided.

Events

Holiday Activities and Food (HAF) programme and prayers.

Plans For Future Periods

Parks and Countryside will work to continue to support the community workdays organised by the volunteer group which focus on enhancing the maintenance of the formal garden, playground beds and sensory garden. Our Gardener Apprentices will be working in the Park with our Training Officer to learn Gardening skills to assist the Park Team with daily maintenance.

The park is hoping to achieve Green Flag Standard within the next few years, with additional maintenance and future investment within the site. The addition of a new operator of the golf course has increased footfall within the park and helps to increase the standards of the site.

There are plans for further tree planting and fruit tree orchard management, with help from our Community Tree Officer. Also, there will be further relaxed mowing areas in the Park to encourage Fauna and Flora. All Parks are Glyphosate free for weed control, Strimming and Hoeing and weeding have returned to High Hazels Park.

We shall be encouraging people to restart the Friends of group, as they bring value and worth to the park. We will continue to support the volunteer group and hope to assist them in bolstering their numbers to make sure their good work can continue.

HIGH HAZELS PARK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

Restricted Funds - The restricted fund has net income of £80,437 (23/24 £3,310): comprising of capital grants and contributions of £92,445 (23/24: £16,124), and depreciation £12,008 (23/24: £12,814).

Unrestricted Funds - Unrestricted funds had net income of £355 (23/24: £345). This was interest received on investments totalling £355 (23/24: £345). This has been transferred to the Designated Fund that now totals £7,495 and is available to spend in accordance with the Charity’s Trusts & Objectives.

The income from charitable activities was £14,287 (23/24: £13,141), with expenditure of £94,563 (23/24: £104,564). The deficit was funded by a grant from Sheffield City Council of £80,126 (23/24: £91,423) and a donation of £150 (23/24: £nil).

At 31 March 2025 the charity had total funds of £729,330 (23/24: £648,538). These funds are all tied up in fixed assets and investments.

Reserves policy

As the charity is managed and funded by the Council, no specific unrestricted charity reserves are deemed to be necessary.

Annual revenue expenditure is generally greater than income and the variance is borne by the Council and not carried forward into the next financial year.

This charity has specific monies invested in the Council’s internal investment fund. Interest is received half yearly on the monies invested. These investments form the restricted funds and any interest is used in line with the restrictions on the funds.

Risk Management

The charity is dependent for its day-to-day management upon Sheffield City Council. It is therefore considered expedient and cost effective for the charity to adopt the Council’s risk management policy and strategy, which it considers is a crucial part of the service planning process in highlighting key risks and how they affect the Council’s ability to deliver its service and how they will be managed. The Council has incorporated a formal approach to risk management in its day-to-day operations and has developed a toolkit to allow managers to identify risk, which would prevent them from achieving their objectives and to provide information and guidance on how these risks can be managed. The Council operates an Internal Insurance Account covering a variety of risks.

Structure, governance and management

High Hazels Park is a charity and the sole Trustee is Sheffield City Council. The Charity Trustee Sub Committee is a standing sub-committee of the Strategy and Resources Policy Committee. It has been established to take all decisions of the Council, including but not limited to disposal of and other dealings with charitable land.

Management of the park is the responsibility of the Councils’ Parks and Countryside service. Management and administrative decisions are not decisions of the Council as Trustee and are made by the Executive Director of Neighbourhood Services, the Director of Parks, Leisure and Libraries, or the head of Parks and Countryside service in accordance with the Arrangements for the Delegation of Functions To Officers, under part 3 of the Council’s constitution.

The trustees who served during the year and up to the date of signature of the financial statements were: Cllr Richard Williams (Chair)

Cllr Fran Belbin (Deputy Chair) Cllr Douglas Johnson (Group Spokesperson) Cllr M Chaplin Cllr K Crossthorn

HIGH HAZELS PARK

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Recruitment & appointment of trustees

High Hazels Park is a charity, for which Sheffield City Council is sole trustee, acting through the charity trustee subcommittee (a standing subcommittee of the council’s strategy and resources policy committee).

Councillors are elected by registered voters in their wards and are appointed to the committee by full council in accordance with the council’s constitution. Appointments to the committee comply with the requirements of political proportionality as set out in the local government and housing act 1989.

Councillors serving on the committee receive appropriate induction to ensure they understand the distinction between the council’s statutory duties and its legal obligations as charitable trustee.

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Trustees induction & training

New trustees undergo training to brief them on their main duties: their legal obligations under charity and company law, the Freedom of information act 2000 and the Equalities act 2010, the Charity Commission guidance on public benefit, and the the committee and decision-making processes. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

The trustees' report was approved by the Board of Trustees.

Cllr Richard Williams (Chair)

Trustee

26 January 2026

HIGH HAZELS PARK

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HIGH HAZELS PARK

I report to the trustees on my examination of the financial statements of High Hazels Park (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 that in any material respect:

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 financial statements to be reached.

Melvin Bailey FCCA DChA

Newstead House Pelham Road Nottingham NG5 1AP 27 January 2026

HIGH HAZELS PARK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
80,276
92,445
Charitable activities
4
14,287
-
Investments
5
355
-
Total income
94,918
92,445
Expenditure on:
Charitable activities
6
94,563
12,008
Total expenditure
94,563
12,008
Net income and movement in
funds
355
80,437
Reconciliation of funds:
Fund balances at 1 April 2024
7,140
641,398
Fund balances at 31 March
2025
7,495
721,835		 Total
Unrestricted
Restricted
Total
funds
funds
as restated
2025
2024
2024
2024
£
£
£
£
172,721
91,423
16,124
107,547
14,287
13,141
-
13,141
355
345
-
345
187,363
104,909
16,124
121,033
106,571
104,564
12,814
117,378
106,571
104,564
12,814
117,378
80,792
345
3,310
3,655
648,538
6,795
638,088
644,883
729,330
7,140
641,398
648,538		 Total
Unrestricted
Restricted
Total
funds
funds
as restated
2025
2024
2024
2024
£
£
£
£
172,721
91,423
16,124
107,547
14,287
13,141
-
13,141
355
345
-
345
187,363
104,909
16,124
121,033
106,571
104,564
12,814
117,378
106,571
104,564
12,814
117,378
80,792
345
3,310
3,655
648,538
6,795
638,088
644,883
729,330
7,140
641,398
648,538
121,033
117,378
117,378
3,655
644,883
648,538

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

HIGH HAZELS PARK

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
17
Unrestricted funds
18		 2025
£
1,225
(1,225)		 £
721,835
7,495
729,330
-
729,330
721,835
7,495
729,330		 2024
as restated
£
873
(873)		 £
641,398
7,140
648,538
-
648,538
641,398
7,140
648,538

The financial statements were approved by the trustees on 26 January 2026

Cllr Richard Williams (Chair) Trustee

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

High Hazels Park Sheffield is a registered charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are for the perpetual use by the public for exercise and recreation.

The charity constitutes a public benefit entity as defined by FRS 102. 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) effective on 1 January 2019 (Updated second edition – October 19), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

1.1 Accounting convention

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting 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 on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

1.2 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise of unrestricted funds that have been set aside by the trustees for specific purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.4 Income

Income from donations and grants, including capital grants, is included in income when it is probable that the income will be received, and is allocated to the appropriate fund.

Investment income is included when receivable.

Rental, events, and similar income is included when the event or function has taken place.

The cost of running the park is funded by Sheffield City Council. Annual revenue expenditure is generally greater than income and any variance is borne by the Council by way of a grant to the charity.

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, net of any VAT, which can be recovered as Sheffield City Council is the sole trustee and therefore has special status under s33 VAT Act 1994.

The main exception to this treatment is payments for such items as gas and electricity are charged at the date of the meter reading rather than being apportioned between years. This policy is applied consistently each year.

Expenditure has been allocated to the activities to which it is directly attributable.

The cost of generating any external funding, such as grant applications and events, is attributable to the time of Sheffield City Council officers who work on a range of projects including the charity. As such it is not possible to accurately apportion the cost of this to the charity so no charge is included in the accounts.

Charitable activities are set out within the charitable deeds and represent the costs associated with the running and maintenance of the park.

Independent examination costs and finance officer costs are charged to the charity. The Council currently absorbs the cost of other officers’ time. This policy is kept under review.

Staff costs

The staff who work for the charity are employed by Sheffield City Council, and are subject to the terms and conditions of that organisation. The costs of such staff are recharged to the charity. Full disclosure of the relevant staff costs and numbers is provided in the notes to these financial statements.

Pensions

City Council employees may participate in the Local Government Superannuation Scheme, which provides members with defined benefits related to pay and service. The City Council makes payments for this group of employees to the South Yorkshire Pensions Authority, which administers pension arrangements on behalf of Sheffield City Council and the other local authorities in the South Yorkshire area. The City Council bears any deficit or surplus on the scheme and does not charge this to the charity.

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

High Hazels Park Sheffield is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.

The Council Dwellings have been initially valued at their deemed cost at the date of transition to SORP (FRS 102).

Other Land and Buildings are initially carried at cost.

These costs have been identified and capitalised in recent years but for earlier years, where no records are available, the original cost is treated as £nil.

Charity assets are revalued on a 5-year rolling programme (unless significant works are undertaken in the meantime that would materially impact asset values) to ensure that material changes in value are reflected as at the balance sheet date. Additional revaluations may be undertaken on an ad hoc basis i.e. where properties change use, there has been a material change in value.

Expenditure on fixed assets is capitalised, provided that the fixed asset yields benefit to the charity and the services it provides are for a period of more than one year.

Assets have been reviewed for any impairment loss in respect of consumption of economic benefit.

Depreciation is provided on fixed assets at rates calculated to write off the cost of the assets over their expected useful lives as follows:

1.7 Fixed asset investments

Fund balances are invested internally with Sheffield City Council. Investments are held at market value.

1.8 Financial instruments

The charity only has financial assets and 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.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
80,276
92,445
Donations and gifts
Sheffield City Council -
revenue grant
80,126
-
Sheffield City Council -
capital grants &
contributions
-
92,445
Donations &
sponsorships
150
-
80,276
92,445		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
172,721
91,423
16,124
80,126
91,423
-
92,445
-
16,124
150
-
-
172,721
91,423
16,124		 Total
2024
£
107,547
91,423
16,124
-
107,547

4 Income from charitable activities

Income from
Income from
charitable
charitable
activities activities
2025 2024
£ £
Rents 14,287 13,141
Analysis by fund
Unrestricted funds 14,287 13,141

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 355 345

6 Expenditure on charitable activities

Expenditure Expenditure
for for
charitable charitable
activities activities
2025 2024
£ £
Direct costs
Staff costs 50,297 48,205
Depreciation and impairment 12,008 12,814
Repairs & maintenance 3,913 4,024
Grounds maintenance 18,141 19,818
Tree work 835 4,192
Playground refurbishment & maintenance 5,198 1,384
Supplies & services - 3,494
Water & sewage 13,562 21,110
Electric 453 459
104,407 115,500
Share of support and governance costs (see note 7)
Governance 2,164 1,878
106,571 117,378
Analysis by fund
Unrestricted funds 94,563 104,564
Restricted funds 12,008 12,814
106,571 117,378

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

7 Support costs allocated to activities

Expenditure
for charitable
activities
2025
£
Governance
2,164
2025
Governance costs comprise:
£
Independent examination fees
1,225
Finance office costs
939
2,164
8
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
1,225
Depreciation of owned tangible fixed assets
12,008		 Total
2024
£
1,878
2024
£
873
1,005
1,878
2024
£
873
12,814

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
2 2
Employment costs 2025 2024
£ £
Wages and salaries 38,990 38,258
Social security costs 3,899 3,430
Other pension costs 7,408 6,517
50,297 48,205

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Employees

(Continued)

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 April 2024 736,026
Additions 92,445
At 31 March 2025 828,471
Depreciation and impairment
At 1 April 2024 94,628
Depreciation charged in the year 12,008
At 31 March 2025 106,636
Carrying amount
At 31 March 2025 721,835
At 31 March 2024 641,398

All land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation carried out 31st March 2024 by SCC Property Services

13 Fixed asset investments

Unlisted
investments
£
Cost or valuation
At 1 April 2024 7,140
Interest received 355
At 31 March 2025 7,495
Carrying amount
At 31 March 2025 7,495
At 31 March 2024 7,140

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Fixed asset investments

(Continued)

The charity funds are invested in Sheffield City Council's Consolidated Loan Funds and treated as permanent endowment funds. Interest can be used for unrestricted purposes. Market value is the same as historical cost.

14
Debtors
Amounts falling due within one year:
Other debtors
15
Creditors: amounts falling due within one year
Other creditors
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
1,225
2025
£
1,225
2025
£
7,408		 2024
£
873
2024
£
873
2024
£
6,517

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

17 Restricted funds

At 1 April Incoming Resources At 31 March
2024 resources expended 2025
£ £ £ £
Land & buildings 641,398 92,445 (12,008) 721,835
Previous year: At 1 April Incoming Resources At 31 March
2023 resources expended 2024
£ £ £ £
Land & buildings 638,088 16,124 (12,814) 641,398

Freehold land & buildings

This fund comprises various grants and donations received to finance capital projects at High Hazels Park.

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Unrestricted funds

At 1 April Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
Designated funds 7,140 - - 355 7,495
General funds - 94,918 (94,563) (355) -
7,140 94,918 (94,563) - 7,495
Previous year: At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
Designated funds 6,795 - - 345 7,140
General funds - 104,909 (104,564) (345) -
6,795 104,909 (104,564) - 7,140

Designated funds represent amounts invested and accumulated interest set aside by the trustees for specific costs as determined by the trustees.

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
-
721,835
Investments
7,495
-
7,495
721,835
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
-
641,398
Investments
7,140
-
7,140
641,398		 Total
2025
£
721,835
7,495
729,330
Total
2024
£
641,398
7,140
648,538

20 Ultimate Controlling Party

The ultimate controlling party is the sole trustee, Sheffield City Council.

HIGH HAZELS PARK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Related party transactions

The charity has a very close relationship with Sheffield City Council who is the sole trustee and provides the balance of funding not provided elsewhere on an annual basis, to enable the charity to carry out its charitable objectives. The amount of funding provided by Sheffield City Council during the year is £172,571 (23/24: £107,547). At the year end £1,225 (23/24: £873) was owed by Sheffield City Council.

22 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet
At 31 March 2024
As previously Adjustment As restated
reported
£ £ £
Capital funds
Income funds
Restricted funds 641,398 - 641,398
Unrestricted funds 7,140 - 7,140
Total equity 648,538 - 648,538
Changes to the profit and loss account
Period ended 31 March 2024
As previously Adjustment As restated
reported
£ £ £
Donations and legacies 85,979 21,568 107,547
Charitable activities 95,810 21,568 117,378
Net movement in funds 3,655 - 3,655