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2024-03-31-accounts

Registered Charity Number: 1201368

THAMES VALLEY ADVENTURE

PLAYGROUND CIO

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THAMES VALLEY ADVENTURE PLAYGROUND CIO CONTENTS TO THE FINANCIAL STATEMENTS

Page
Trustees’ Report 2 – 10
Statement of Trustees’ Responsibilities 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 - 22
Independent Examiner’s Report 23

Page 1

THAMES VALLEY ADVENTURE PLAYGROUND CIO

CHARITY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024

Trustees

Mr James Wilks Mr Chrisistopher Barrett DL Mr Jeremy Malkinson Mrs Deborah Farnfield Mrs Karen Roberts Mrs Reama Shearman Ms Lucia Leong

Chair (from 11 December 2024) Vice-Chair (Chair until 11 December 2024) Treasurer

Board Secretary

Miss Sian Hughes

Vice Presidents

Mrs Pat Murray Mrs Rosemary Peters Mrs Sylvia Livsey

Patrons

Mrs Flo Jacob Mr Peter Prior

Key Management Personnel

Head of Charity – Mr Gary Warrington Playground Operations Manager – Ms Sylwia Lipska Community Outreach Coordinator – Ms Lucie Grange

Independent Examiners

Crowe U.K. LLP R+ Building 2 Blagrave Street Reading Berkshire RG1 1AZ

Bank

Barclays Bank Plc Apex Plaza, 4[th] Floor Forbury Road Reading RG1 1AX

Principal Office 7 Summerleaze Road Maidenhead Berkshire SL6 8SP

Page 2

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report together with the financial statements for the year ended 31 March 2024 under the Charities Act 2011, together with the financial statements for the year.

The Board confirms that the latter comply with the requirements of the Charities Act 2011, the Charity’s Constitution and the Charities SORP FRS 102 (2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Entity

Thames Valley Adventure Playground CIO was entered onto the Register of Charities on 16 December 2022 with Registered Charity Number 1201368.

Thames Valley Adventure Playground CIO replaced the former charity Thames Valley Adventure Playground Association (Registered Charity Number 278336) having the same charitable objects, and taking over all its activities, assets and liabilities under an asset transfer agreement with effective date 1 April 2023. This was duly authorised by order of The Charity Commission of England and Wales dated 25 April 2023 under section 105 of the Charities Act 2011.

Governing Document

The governing instrument is the Constitution of Thames Valley Adventure Playground CIO (TVAP), dated 15 December 2022. TVAP is administered, in conformity with the provisions of the Constitution, by the Board of Trustees, who are constituted as the Trustees of the Charity. The Charity registration number is 1201368.

Method of Appointment and Composition of the Board of Trustees

The Board of Trustees and the officers of the CIO are elected by the members of the CIO in a general meeting to direct and manage the Charity’s affairs. All officers are trustees, and all trustees must be members of the CIO. The Board of Trustees consists of the three offices (Chairman, Vice-Chairman and Treasurer) plus a number of other trustees. The Chair of the CIO is also Chairman of the Board.

Induction and Training of Trustees

Nominations for new Trustees are put forward by the board for election by the members on the basis of eligibility, personal competence, specialist skills and experience, and local knowledge.

Trustees are inducted into the workings of the Charity by meeting with the Chairman and Treasurer who provide them with copies of the Constitution, accounts and other relevant documentation. Trustees are encouraged to attend external training courses.

Organisation

Three sub-committees dealing respectively with operations, finance and marketing meet regularly throughout the year and report directly to the Board of Trustees, which meets formally four times a year or more often as required. The Head of Charity is responsible for the day-to-day running of the Playground and reports directly to the Trustees.

Financial management is tightly controlled and management financial statements are presented to the subcommittees and Board of Trustees on a quarterly basis. The playground operates a system of staff assessment and staff training. All the salaried staff and voluntary helpers are police-checked in accordance with Safeguarding Legislation (Safeguarding Vulnerable Groups Act 2006).

Page 3

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Key Management Personnel

The Trustees consider that the Head of Charity, Playground Operations Manager and Community Outreach Coordinator are the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis during the year under review.

The pay of the key management personnel (as with all other staff) is reviewed periodically, with a view to ensuring that it keeps pace with inflation, properly rewards performance and is comparable with pay levels in similar organisations. These factors are assessed in the context of the financial constraints within which the Charity must operate.

OBJECTS AND ACTIVITIES

The objects of the association are to alleviate the needs of children and adults with special needs, and their relatives and carers, by the provision of facilities for adventure play and other appropriate leisure time occupation. In particular, the association aims to:

PRINCIPAL OBJECTIVES AND ACTIVITIES

The Thames Valley Adventure Playground for People with Special Needs (TVAP) is a very special play facility. More than just a playground, it is no less than a lifeline to many children and their families and is an Ofsted-registered day care facility for the provision of respite care. Pre-Covid, the Playground welcomed over 5,000 adults and children from 33 different counties who made over 15,000 visits in total each year.

The Charity is committed to safeguarding and promoting the welfare of children, young people and adults, and expects all staff, visiting staff, volunteers, parents, guardians and carers to share this commitment. It is registered with Ofsted under number EY260 492 to provide full daycare.

TVAP is open to any person with a special need. Its specialist indoor and outdoor play, recreational and learning facilities, are available to all children, teenagers and adults with special needs, whether they have a physical or learning disability, a sensory impairment, behavioural difficulties or autism, or whether they are socially disadvantaged or unable to make meaningful use of alternative mainstream provision. TVAP provides unique support to its service users, siblings, families and carers, including respite and advisory services.

The facilities are run and maintained by a team of 4 full time staff and 30 part time/sessional staff, who are supported by a loyal band of dedicated volunteers. The Adventure Playground offers something for everyone and is somewhere that the whole family can feel comfortable and enjoy the fun, stimulation and freedom of a good day out. The pressures and stress, often associated with accessing mainstream recreational facilities, are removed and each individual is equally valued and positively enabled to enjoy a unique range of play opportunities. From the use of our adapted and specially designed equipment to making and hanging out with friends, TVAP is, for many, the only form of recreation that meets their particular needs, and those of their families. TVAP understands that its service users will play ‘differently’ and, by embracing those differences, creates an environment where everybody has possibilities.

Page 4

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

PRINCIPAL OBJECTIVES AND ACTIVITIES (CONTINUED)

TVAP operates from a site comprising two log cabin style buildings on a 2.5-acre purpose-built site in Taplow (owned by Summerleaze Limited), the facilities include a huge interactive soft play area, two contrasting multi-sensory rooms, a music room, arts and craft facilities, a woodwork room and a resources area, as well as two fully equipped playrooms and a games area. Both buildings are fully wheelchairaccessible and have toilet and changing facilities. During term time, TVAP is used by children from special schools. Every Thursday is Youth Club night, Fridays are reserved for special needs adults, and on Saturdays and holiday periods we welcome a mixture of families, individuals, play schemes and parent support groups.

The outdoor playground is equipped with a myriad of adventurous play equipment including a wheelchairaccessible roundabout and swings, and a purpose-built elevated walkway enabling those with mobility difficulties to ‘climb’ in the trees. A special 40-metre runway with bucket seat and harness allows even the most disabled person to enjoy the ride. Together with a wealth of play structures and exciting equipment, sand and water play areas, and a safety surfaced games area (with specially adapted bikes and trikes) there really is something for everyone.

TVAP is supervised and fenced to maintain the safety of the children, enabling them to enjoy a sense of freedom, individuality and self-determination that has been denied them in many other areas of their lives.

POLICIES AND RESERVES

It is the Trustees’ policy to ensure that all money received is used to serve the objects of TVAP and reserves are held to secure its continuing existence. The current policy of the Trustees is to aim to maintain free reserves at a level equivalent to between 6- and 12-months’ core annual expenditure. As at 31 March 2024, free reserves as defined by the Charity Commission (unrestricted funds less any balances not available for spending such as fixed assets and designated funds) were £329,652 (2023: £388,680) . For the year ended 31 March 2024, core annual expenditure (defined by the Trustees as unrestricted expenditure on charitable activities excluding depreciation) was £432,026 (2023: £401,359) .

TVAP places great emphasis on maintaining the quality of the facilities and care it provides. Particular attention is focused on health and safety considerations and on staff training.

The Charity had no reserves with a negative balance. Free reserves at the year-end were in line with the levels set by the reserves policy (between 6- and 12-months’ core annual expenditure) at a level of approximately 9 months’ core annual expenditure ( 2023: 11 months’ ). The breakdown of reserves was as follows:

Funds at 31 March 2024
Free reserves at 31 March 2024		 General
Fund
£
471,644
Free
Reserves
£
329,652		 Restricted
Fund
£
45,108		 Total
£
516,752

Page 5

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

INVESTMENT POLICY

The Trustees’ current investment policy is to hold the charity’s funds as cash, a proportion of which may be in interest-bearing deposits. The Trustees review alternative investments on a continuing basis and may change their policy as and when they consider it safe and worthwhile to do so.

RISK MANAGEMENT

The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

The Trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the Charity. A key element in the management of financial risk is a regular review of available reserves and liquid funds to settle debts as they fall due, and active management of expenditure to ensure sufficient working capital is available to the Charity.

Attention has also been focussed on non-financial risks arising from fire, health and safety and child protection. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular awareness training for staff working in these operational areas.

PUBLIC BENEFIT

In furtherance of the Charity’s aims and objectives the Trustees, have complied with their duty in section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s published general guidance concerning the operation of the public benefit requirement under that Act.

FUNDRAISING

TVAP is committed to the highest standards in fundraising. At all times we will ensure that we are respectful, open, honest and accountable to our supporters and the public.

TVAP is a small charity that principally raises funds from Trusts and Foundations, Companies, Individuals, Partnerships and funds from statutory and government agencies. It also raises funds through community events and activities.

Fundraising approaches made by TVAP are personal and targeted on those individuals who have expressed interest in our work and to institutions that support the services we provide. TVAP does not engage in large scale fundraising activities like mass mailings, telephone fundraising or door-to-door campaigns. Under no circumstances will TVAP share personal information of our supporters for the purposes of third party marketing or processing.

The management team, trustees and volunteers all play a significant role in raising and managing funds for TVAP. The Core Finance subcommittee of the Board of Trustees meets quarterly and provides oversight of fundraising strategy and delivery.

Page 6

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

TVAP aims to conform to the Fundraising Regulator’s Code of Fundraising Practice. This Code was established in 2016 with an aim of setting and maintaining the standards for charitable fundraising while ensuring that fundraising is respectful, open, honest and accountable to the public. Any breaches of the Code or complaints about TVAP’s fundraising activities are taken very seriously. There have been no such breaches or complaints reported in the year to 31 March 2024, or subsequently.

From time to time, TVAP may use third party organisations to help raise funds. This might include, for example, the use of an agency to support the delivery of an event, the use of an agency to run an auction (e.g. Givergy) or the use of an agency to introduce TVAP to customers of the agency who have expressed an interest in learning about supporting charitable work.

CHAIRMAN’S REPORT

The charity Thames Valley Adventure Playground, or more familiarly ‘TVAP’, has been a CIO since December 2022 and took over the work of the Thames Valley Adventure Playground Association, which had operated for forty-three years at its current site, with effect from 1 April 2023.

Our purpose remains “to provide the best life possible” for both the families of disabled people and the individuals themselves. We do this by using Adventure Play as the means to:

We also provide support and respite to parents and carers, whose lived experience is often challenging and - particularly when dealing with the State Support sector – often stressful.

We can only do this through the benevolence, altruism and support of many individuals – Staff, Friends, Volunteers, Trustees, Companies and Charitable Trusts, without whom none of this would be possible. Your dedication and your support are deeply appreciated by all our beneficiaries, and it is an honour to be associated with such a collective effort.

Going forward we see no diminution in the need for our services, quite the opposite in fact. We plan to continue to work to the highest possible standards, and wherever possible to expand our service offering and access to align with the expressed needs of the disabled community.

Achievements and Performance

In the year ended 31 March 2024, we:

Investment policy and performance

The cost to TVAP CIO of providing its services and facilities, in terms of core annual expenditure, was in excess of £430,000 for the year to 31 March 2024. These costs were not entirely matched by fund-raising efforts and charitable giving, with our reserves falling to the equivalent of approximately 9 months’ operating costs. Reserves are held in accordance with the investment policy and monitored by the Trustee treasurer.

Page 7

THAMES VALLEY ADVENTURE PLAYGROUND CIO TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

CHAIRMAN’S REPORT (Continued)

Our Strategy for the future

In 2024/25 our aim is to:

Forward looking statement

Looking towards 2025, the Trustees and Staff are aware of the changing needs of the community and the need for greater support for those with neurodivergent conditions rather than physical disabilities. This will require additional training for the staff in appropriate areas.

This additional service will require additional staff – initial estimates are for 1.7 FTE but will be subject to securing guaranteed funding for a minimum of three years.

.

Page 8

THAMES VALLEY ADVENTURE PLAYGROUND CIO

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW OF THE YEAR

The Statement of Financial Activities, which sets out the Charity’s income and expenditure for the year ended 31 March 2024, appears on page 12 of this report.

Total income for the year (net of fundraising costs) was £419,623 (2023: £381,219) and was principally composed of donations of £260,293 (2023: £243,499) , user contributions and memberships of £150,412 (2023: £124,425) , net fundraising and other income of £3,793 (2023: £3,798) , and interest received of £nil (2023: £897) . Local Authority funding and grants amounted to £5,125 (2023: £8,600) which accounted for less than 2% of total income. The Charity’s accounts continue therefore to demonstrate its dependence on voluntary income. The playground is a lifeline for thousands of service users coming from many different counties, and we continue to believe that significant increases in the level of Local Authority funding should be made.

Total expenditure on charitable activities for the year was £487,403 (2023: £457,590) . The majority of this expenditure related to staff and pension costs amounting to £351,278 (2023: £322,859). The Trustees consider the Head of Charity and other staff to be the very essence of the Charity’s existence and consider it vital to recognise and properly reward the special skills and commitment they contribute. Thanks to a high level of volunteer help and sponsorship in many areas of its work, the Charity’s administrative costs are kept to an absolute minimum. Included within expenditure on charitable activities is a total depreciation charge of £36,148 (2023: £27,282) , most of which relates to the annual writing-down of the annex.

The above factors resulted in an overall financial deficit for the year of £67,780 (2023: £76,371).

The Balance Sheet, which records the Charity’s assets and liabilities as at 31 March 2024, appears on page 13.

Reserves are held to allow the Charity to further its objectives. The Trustees consider it prudent and appropriate to aim to maintain free reserves at a level equivalent to between 6 and 12 months’ core annual expenditure. The Charity’s free reserves at the end of the year under review were £329,652 (2023: £388,680). Core annual expenditure for the year was £432,026 (2023: £401,359) . Free reserves were thus equivalent to approximately 9 months’ core annual expenditure (2023: 11 months’) which is within the range set by the Charity’s reserves policy.

The Charity’s total cash funds as at the year-end were £382,581 (2023: £396,380)

The Restricted Fund relates principally to the capitalised cost (less accumulated depreciation) of the Jock’s Cabin annexe, constructed in 2003 from funds given specifically for that purpose. See note 12b) for further analysis of other restricted donations received.

TVAP continues to suffer from a lack of substantial guaranteed funding. As ever, it faces the perennial challenge of generating sufficient income to cover its core annual funding requirement, which is currently running, on the basis of the year under review, at a level in excess of £430,000 per annum.

Income from both donations and user contributions continued to increase from prior-year levels. However, this was not enough fully to offset the inflationary increase in the Charity’s cost-base, and which brought free reserves closer to the lower end of its reserves policy range. It is likely that total reserves will continue to be depleted in the ensuing year unless increased funding is secured. The Trustees are closely monitoring the position and are committed to taking whatever action is necessary to ensure that the Charity remains viable and that it continues to support and protect its service users.

Page 9

THAMES VALLEY ADVENTURE PLAYGROUND CIO TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Approved by the Trustees on 29 January 2025 and signed on their behalf by

J Wilks Chairman

J Malkinson Treasurer

Page 10

THAMES VALLEY ADVENTURE PLAYGROUND CIO STATEMENT OF TRUSTEES’ RESPONSIBILITIES

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

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions, disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 11

THAMES VALLEY ADVENTURE PLAYGROUND CIO

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Charitable activities
Grants & local authority
funding
Fundraising
4
Investments
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
Total expenditure
Transfer between funds
Net movement in funds
Fund at 1 April 2023
Fund balances carried forward
12		 General
Fund
£
361,073
5,125
4,286
-
370,484
493
460,640
461,133
-
(90,649)
562,293
471,644		 Restricted
Fund
£
49,632
-
-
-
49,632
-
26,763
26,763
-
22,869
22,239
45,108		 Total
Funds
2024
£
410,705
5,125
4,286
-
420,116
493
487,403
487,896
-
(67,780)
584,532
516,752		 Total
Funds
2023
£
367,924
8,600
5,060
897
382,481
1,262
457,590
458,852
-
(76,371)
660,903
584,532

All disclosures relate only to continuing operations.

There are no other recognised gains and losses other than the income and expenditure for the year.

The notes on pages 14 to 22 form part of these financial statements

Page 12

THAMES VALLEY ADVENTURE PLAYGROUND CIO

BALANCE SHEET

31 MARCH 2024

Note
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS: amounts falling due within
one year
11
NET CURRENT ASSETS
NET ASSETS
REPRESENTED BY:
Restricted Funds
12
Unrestricted Funds
12		 31 March
2024
£
£
171,218
4,935
382,581
387,516
(41,982)
345,534
516,752
45,108
471,644
516,752		 31 March
2023
£
195,762
16,108
396,380
412,488
(23,718)
388,770
584,532
22,239
562,293
584,532

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.

J Wilks J Malkinson Chairman Treasurer

The notes on pages 14 to 22 form part of these financial statements

Page 13

THAMES VALLEY ADVENTURE PLAYGROUND CIO NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

a) BASIS OF PREPARATION

TVAP is a charity registered in the UK (charity number 1201368) with its registered office at 7 Summerleaze Road, Maidenhead, Berkshire, SL6 8SP.

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 January 2019) – (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The accounts (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 Accounting and Reporting by Charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) 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 Trustees consider that there are adequate cash resources and sufficient reserves at 31 March 2024 and therefore consider that there is a reasonable expectation that the charity can continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the annual financial statements.

The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) INCOME RECOGNITION POLICIES

Voluntary income received by way of donations and gifts to the Charity is included in full in the statement of financial activities when received.

c) 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:

Expenditure on raising funds comprises the costs of the fundraising team and their associated support costs.

Expenditure on charitable activities comprises all costs relating to the furtherance of the charity’s objectives.

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

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office costs comprising facilities, general management, legal and professional, IT and governance costs which support the Charity’s activities.

Page 14

THAMES VALLEY ADVENTURE PLAYGROUND CIO NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

d) GIFT AID

Gift Aid is accounted for on an accruals basis and included within donations.

e) TERMINATION AND REDUNDANCY PAYMENTS:

A termination benefit is charged to the profit and loss immediately on recognition. The liability is recognised as the best estimate of the cost at the reporting date.

f) PENSION CONTRIBUTIONS

The Charity makes contributions to employees’ personal pension policies. The contributions are charged to the Statement of Financial Activities in the year in which they are payable.

g) FIXED ASSETS

Fixed assets are capitalised at cost. Playground equipment over the value of £10,000 is capitalised. Other fixed assets over the value of £1,000 are capitalised.

h) 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.

i) SHORT TERM DEPOSITS AND CASH AT BANK AND IN HAND

Short term deposits and Cash at bank and 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.

j) CREDITORS AND PROVISIONS

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

k) DEPRECIATION

Depreciation is provided at the following rates so as to write them off over their anticipated useful lives. The cabin and equipment are written off at the rate of 10% per annum on a reducing balance basis. Motor vehicles are depreciated at the rate of 25% per annum on a straight line basis. Expenditure on computer equipment is written off in the year in which it is incurred due to its short useful life expectancy. Expenditure on software is written off at the rate of 10% per annum on a reducing balance. However, from 1 April 2019 the useful economic life of the Charity’s playground equipment has been reviewed and a new rate of 20% on a straight-line basis has been introduced. This has been implemented from that date for all new equipment assets and for existing assets partly depreciated at this date will be moved onto this basis.

l) DONATED ASSETS

Donated assets where significant are capitalised at a value equivalent to market value as at the date of donation.

Page 15

THAMES VALLEY ADVENTURE PLAYGROUND CIO NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

m) FUNDS

General funds represent the funds of TVAP that are not subject to any restrictions regarding their use and are available for the application on the general purposes of the TVAP. The purpose of the restricted funds is shown in Note 12.

n) 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.

2. Critical accounting judgements and key sources of estimation uncertainty

Trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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. In the view of the Trustees, no assumptions concerning the estimation uncertainty affecting assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts.

3.

DONATIONS

ONATIONS
General donations
User contributions
& memberships
2023 comparative		 Unrestricted
Funds
£
210,661
150,412
361,073
351,884		 Restricted
Funds
£
49,632
49,632
16,040		 Total
2024
£
260,293
150,412
410,705
367,924		 Total
2023
£
243,499
124,425
367,924

4. FUNDRAISING – MAIN EVENTS

Fundraising Events – Income
Fundraising Events – Cost
Fundraising Events – Net		 Year ended
31 March
2024
£
4,286
(493)
3,793		 Year ended
31 March
2023
£
5,060
(1,262)
3,798

All of the fundraising events were principally organised by TVAP and the TVAP Network.

Page 16

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

5. COSTS OF ACTIVITIES IN FURTHERANCE OF THE CHARITY’S OBJECTS

Direct cost of adventure play activities
Wages and salaries
Pension costs
Energy and water
Training and subscriptions
Vehicle costs
General expenses
Insurance
Maintenance, supplies and equipment
Publicity
Loss on disposal
Depreciation
Support Costs
Wages and salaries
Pension costs
Stationery, postage and advertising
Telephone
General expenses
Professional services
Bank charges
Subtotal of Direct Costs and Support Costs
Restricted Expenditure
Restricted Project expenditure
Restricted depreciation		 Year ended
31 March
2024
£
303,103
30,611
10,630
2,688
298
3,474
8,216
37,392
45
1,377
29,106
426,940
15,953
1,611
1,199
1,731
695
10,909
1,602
33,700
460,640
19,722
7,041
26,763
487,403		 Year ended
31 March
2023
£
282,762
23,954
10,300
2,190
999
2,075
8,016
39,967
651
-
24,176
395,090
14,882
1,261
789
1,648
415
8,180
3,269
30,444
425,534
28,950
3,106
32,056
457,590

The Charity’s financial administration is provided on a voluntary basis and by sponsorship.

Total governance costs included above are £5,250 (2023: £4,770).

Page 17

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

6. NET INCOME/(EXPENDITURE)

Net movement in funds is stated after charging:
Depreciation of fixed assets
Independent Examiner’s remuneration (including VAT)
TAFF COSTS
Wages and salaries
Social security
Pension		 Year ended
31 March
2024
£
36,148
5,250
Year ended
31 March
2024
£
301,847
17,209
32,222
351,278		 Year ended
31 March
2023
£
27,282
4,770
Year ended
31 March
2023
£
280,228
17,415
25,215
322,858

7. STAFF COSTS

Page 18

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

8. TRUSTEES AND OTHER EMPLOYEES

The average monthly number of persons employed by the CIO during the year was as follows:

Playground Manager and play workers
Sessional play staff
Maintenance
Head of Engagement and Fundraising
User support and liaison		 2024
No
4
22
1
0
1
28		 2023
No
3
20
1
1
1
26

The key management personnel comprise the Trustees, the Head of Charity, the Playground Operations Manager and the Community Outreach Coordinator.

The cost of employee remuneration and benefits of the key management personnel was £152,434 (2023: £125,247)

No trustees were paid any remuneration during the year. During the year a total of £nil (2023: £Nil) was reimbursed to Trustees in respect of travel expenses.

One (2023: One) employee had employee benefits in excess of £60,000 per annum, in the band £60,000-70,000 per annum .

The Charity makes contributions to employees’ personal pensions plans. The contributions are charged to the Statement of Financial Activities in the year in which they are payable. During the year contributions of £32,222 ( 2023: £25,215) were paid. There were no outstanding contributions at the year end.

9. TANGIBLE FIXED ASSETS

Cost:
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation:
At 1 April 2023
Charge for the year
Disposals
At 31 March 2024
Net book value
at 31 March 2024
At 31 March 2023		 Motor van
£
21,650
-
(3,050)
18,600
11,187
5,813
(3,050)
13,950
4,650
10,463		 Building and
equipment
£
930,485
16,030
(5,640)
940,875
745,186
30,335
(1,214)
774,307
166,568
185,299		 Total
£
952,135
16,030
(8,690)
959,475
756,373
36,148
(4,264)
788,257
171,218
195,762

Page 19

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

10. DEBTORS

Taxation – Gift Aid
Prepayments
Accrued Income
REDITORS:Amounts falling due within one year
Trade creditors
Other creditors
Accruals
Deferred income		 31 March
2024
£
3,980
820
135
4,935
31 March
2024
£
9,880
5,387
5,175
21,540
41,982		 31 March
2023
£
2,920
9,189
4,000
16,108
31 March
2023
£
13,100
5,444
5,173
-
23,718

11. CREDITORS: Amounts falling due within one year

12a. FUNDS

Analysis of net assets by type at 31 March 2024

Fixed assets
Current assets
Current liabilities		 General
Fund
£
141,992
371,634
(41,982)
471,644		 Restricted
Fund
£
29,226
15,882
-
45,108		 Total
£
171,218
387,516
(41,982)
516,752

Restricted funds

£29,226 of the restricted funds relate to the capitalised cost of the annex constructed in 2003 from funds given for that purpose and the refurbishment of the entrance fence and gate constructed in 2023. The remaining amount relates to monies given for the bookkeeping and accountancy fees which were overpaid in the year.

Page 20

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Analysis of net assets by type at 31 March 2023

Fixed assets
Current assets
Current liabilities		 General
Fund
£
173,613
412,398
(23,718)
562,293		 Restricted
Fund
£
22,149
90
-
22,239		 Total
£
195,762
412,488
(23,718)
584,532

12b. Restricted Income and Expenditure analysis for year ended 31 March 2024

Annexe/Fence & Gate
Donated book keeping services
Kenvue grant
GoKart		 As at 1 April
2023
£
22,149
90
-
-
22,239		 Income
£
14,118
19,132
15,882
500
49,632		 Expenditure
£
7,041
19,222
-
500
26,763		 As at 31
March
2024
£
29,226
-
15,882
-
45,108

Restricted Income and Expenditure analysis for year ended 31 March 2023.

Annexe
Donated book keeping services
Washing Machine
Splash Pool		 As at 1 April
2022
£
25,255
-
-
13,000
38,255		 Income
£
-
15,540
500
-
16,040		 Expenditure
£
(3,106)
(15,450)
(500)
(13,000)
(32,056)		 As at 31
March
2023
£
22,149
90
-
-
22,239

13 RELATED PARTY TRANSACTIONS

There were no related party transactions to report in the year under review.

14. CAPITAL COMMITMENTS

At 31 March 2024, the Charity had capital commitments amounting to £nil ( 2023: £nil).

Page 21

THAMES VALLEY ADVENTURE PLAYGROUND CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

15. FINANCIAL INSTRUMENTS

All of the Charity’s monetary assets and liabilities are basic financial instruments.

16. TRANSFER

Thames Valley Adventure Playground CIO was entered onto the Register of Charities on 16 December 2022 with Registered Charity Number 1201368.

Thames Valley Adventure Playground CIO replaced the former charity Thames Valley Adventure Playground Association (Registered Charity Number 278336) having the same charitable objects, and taking over all its activities, assets and liabilities under an asset transfer agreement with effective date 1 April 2023. This was duly authorised by order of The Charity Commission of England and Wales dated 25 April 2023 under section 105 of the Charities Act 2011

17. COMPARATIVE SOFA 2023

Note
Income from:
Donations and legacies
3
Charitable activities
Grants & local authority
funding
Fundraising
4
Investments
Coronavirus Job Retention
Scheme income
Total income
Expenditure on:
Raising funds
4
Charitable activities
5
Total expenditure
Transfer between funds
Net movement in funds
Fund at 1 April 2022
Fund balances carried forward
12		 General
Fund
£
351,884
8,600
5,060
897
-
262,667
1,262
425,534
426,796
200,000
139,645
422,648
562,293		 Designated
Fund
£
-
-
-
-
-
-
-
-
-
(200,000)
(200,000)
200,000
-		 Restricted
Fund
£
16,040
-
-
-
-
16,040
-
32,056
32,056
-
(16,016)
38,255
22,239		 Total
Funds
2023
£
367,924
8,600
5,060
897
-
382,481
1,262
457,590
458,852
-
(76,371)
660,903
584,532		 Total
Funds
2022
£
265,300
5,625
2,921
-
17,391
291,237
1,382
392,017
393,399
-
(102,162)
763,065
660,903

Page 22

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF THAMES VALLEY ADVENTURE PLAYGROUND CIO

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2024, which are set out on pages 12 to 22.

This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity, the charity’s members as a body and the charity’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

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

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination.

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.

Janette Joyce CROWE U.K. LLP Chartered Accountants R+ Building 2 Blagrave Street Reading, RG1 1AZ.

Date: 29 January 2025

Page 23