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2021-03-31-accounts

Registered Charity Number: 278336

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION CONTENTS TO THE FINANCIAL STATEMENTS

Page
Trustees’ Report 2 – 11
Statement of Trustees’ Responsibilities 12
Auditors’ Report 13 – 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Financial Statements 18 - 26

Page 1

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

CHARITY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2021

Trustees

Mr Alec Black Chairman Mrs Deborah Farnfield Vice Chairman Mrs Karen Roberts Vice Chairman Mr Jeremy Malkinson Treasurer Mr Tim Penfold Mr Chris Barrett Mr Ian Perkins

Association Secretary

Mrs Helen Craik

Vice Presidents

Mrs Pat Murray Mrs Rosemary Peters Mrs Sylvia Livsey

Patrons

Mrs Flo Jacob Mr Peter Prior

Key Management Personnel

Playground Manager – G Warrington Head of Engagement and Fundraising – K Hanks

Auditors

Crowe U.K. LLP Aquis House 49-51 Blagrave Street Reading Berkshire RG1 1PL

Bankers

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 ASSOCIATION

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report together with the audited financial statements for the year ended 31 March 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The governing instrument is the Constitution of Thames Valley Adventure Playground Association (TVAP), dated the 16 July 1979, and amended on the 7 March 2007 and 17 June 2019. 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 278336.

Method of Appointment and Composition of the Board of Trustees

The Board of Trustees and the officers of the association are elected by the members of the association in a general meeting to direct and manage the charity’s affairs. All officers are trustees, and all trustees must be members of the association. The Board of Trustees consists of the three offices (Chairman, ViceChairman and Treasurer) plus a number of other trustees being not less than two and not more than four in number. The Chairman of the Association 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 twice a year or more often as required. A Playground Manager is responsible, and reports directly to the Trustees, for the dayto-day running of the playground.

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).

Key Management Personnel

The Trustees consider the Playground Manager and the Engagement Manager the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis.

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 have to be assessed in the context of the financial constraints within which the charity has to operate.

Page 3

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

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 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 Ofstedregistered day care facility for the provision of respite care. Currently, the Playground welcomes over 5,000 adults and children who come from 33 different counties and make 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.

The Adventure Playground 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. The Playground provides unique support to its 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, the Thames Valley Adventure Playground is, for many, the only form of recreation that meets their particular needs, and those of their families. The Playground understands that its users will play ‘differently’ and, by embracing those differences, creates an environment where everybody has possibilities.

The Charity operates from a site comprising 2 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, 2 contrasting multi-sensory rooms, a music room, arts and craft facilities, a woodwork room and a resources area, as well as 2 fully equipped playrooms and a games area. Both buildings are fully wheelchair accessible and have toilet and changing facilities. During term time, the Playground is used by children from special schools. Every Thursday is Youth Club night, Fridays are reserved for special needs adults, and Saturdays and holiday periods are a mixture of families, individuals, play schemes and parent support groups.

Page 4

FOR THE YEAR ENDED 31 MARCH 2021

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION TRUSTEES’ REPORT (CONTINUED)

PRINCIPAL OBJECTIVES AND ACTIVITIES (CONTINUED)

The outdoor playground is equipped with a myriad of adventurous play equipment including wheelchair accessible roundabout and swings; a purpose-built elevated walkway enables 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.

The entire Playground is supervised and fenced to maintain the safety of the children and enables them to enjoy a sense of freedom, individuality and self-determination that has 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 trustees consider it prudent and appropriate to aim to maintain free reserves at a level equivalent to between one and two years of core annual expenditure. At 31 March 2021, 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 £329,722 (2020: £ 367,417 ) . For the year ended 31 March 2021, core annual expenditure (defined by the trustees as unrestricted expenditure on charitable activities excluding depreciation) was £328,148 (2020: £386,222) .

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

The trustees are committed to bring the Government’s attention to the lack of resources for play for the disabled in comparison to play for the able.

A designated fund has been set up this year following the Trustees’ decision to set aside some funds for the purpose of substantially weatherproofing the outside areas of the playground to make it safe and available to the maximum number of beneficiaries throughout the year, whilst accommodating ‘social distancing’ into the medium/long term future.

The Trust had no reserves with a negative balance. Free reserves at the year-end were in line with the levels set by the reserves policy of being at 1 year’s core annual expenditure. The breakdown of reserves was as follows:

Funds at 31 March 2021 General
Fund
£
525,347		 Designated
Fund
£
200,000		 Restricted
Fund
£
37,718		 Total
£
763,065
Free reserves at 31 March 2021 Free
Reserves
£
329,722

Page 5

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

INVESTMENT POLICY

The trustees’ current investment policy is to hold the charity’s funds as cash, a proportion of which will 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 medium sized 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. TVAP does not contract with professional fundraisers.

Fundraising approaches made by TVAP are personal and targeted, focussed on those individuals and institutions who have expressed interest in our work. 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 ASSOCIATION TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

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 2020, or subsequently.

TVAP does not use third party organisations to help raise funds for TVAP. This would 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 TVAPA to their customers who have expressed an interest in learning about supporting charitable work.

CHAIRMAN’S REPORT

Who would have thought that going into this year we would all be faced with such a terrible, scary and prolonged time in our lives. For our beneficiaries it must have been unbelievably terrifying - their choices, already limited, reduced to none. The unpredictability and unknown nature of Covid 19 stopped the entire world in its tracks, no warning, everything changed.

For the first time in 38 years of operation we had to, very reluctantly, close our doors completely. Apart from Reama, our Engagement Manager, all staff were furloughed (on 100% pay initially as our reserves were robust and we value them so highly). For Reama it was a very lonely time, working to keep our message out there and to encourage what donations she could.

Although we felt like we were in some way letting our service users and their families down we understood that full lockdown, at this stage, was our best defence in keeping both our staff team and our users safe. This has remained our greatest priority throughout.

As soon as a chink of light was seen peeping through the Covid curtains we started planning for a staged ‘covid safe’ reopening and following some major investments in the site and buildings, PPE and special cleaning materials, and with a robust covid risk assessment informing our operational and hygiene protocols - with PPE on - we were ready! To start with we would have to provide outdoor play only. Restrictions to the number of households we could accommodate at any one time, led us to divide the day into limited timeslots which we have never previously done, and this actually turned out to be popular with parents as it enabled them to extract their charges from the Playground without fuss! We will probably continue with such an arrangement as it enables more beneficiaries to use the Playground in busy times. The loss of user contributions due to restrictions on numbers, plus the unexpected and significant investment required, forced us to raise the suggested level of contributions for the first time in 8 years!

We opened again on the 4[th] July for families and respite children.

It was both exciting and a bit scary to be honest. No one knew what to expect except one thing – everyone was going to have fun! It took some getting used to, on both sides, but we were very proud of the way that everyone just got on with it and worked really hard to keep each other safe.

Page 7

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

CHAIRMAN’S REPORT (Continued)

With our new risk assessments in hand we cleaned before sessions, during sessions and after sessions. We got through a lot of PPE too! But we were just so glad to be open again that everyone just did what was needed, even if it was with enormous restrictions.

And the children came with their families and they all played again, in the sun and the rain. Feedback from attendees was excellent thanks to the amazing efforts of the staff and Tim Penfold in reconfiguring the site and introducing the new safety equipment and protocols.

We managed to stay open (with a slight blip over Christmas!) for the rest of the year, gradually opening up those areas we could as the restrictions allowed. We improved our welfare facilities with additional toilets and sinks, created safer play pockets around the site and massively tightened our booking and registration procedures in line with test and trace requirements. We altered our opening hours and days to best fit our service users’ needs at the time which also allowed us to keep on-site numbers more manageable and therefore safer. The Trustees decided to reduce the furlough top-up guarantee to 90% in recognition of reduced staff costs when at home and to recognise the efforts of those not furloughed.

And so we cleaned…..

We offered craft packs for home use and even our Christmas party went online, with the staff dressing up and entertaining our families with jokes and games.

And we fogged and we cleaned……….

Our Thursday Fun Club went onto zoom where members’ have continued to enjoy a variety of online fun and games but most importantly were able to keep in touch.

And we cleaned and we fogged….

But whilst families were able to make lots of visits throughout this year we really felt the loss of our school and adult groups during the autumn and spring terms, so much so that we took the decision to close during those weeks and only open on the weekends, and when/if we had significant mid-week booking requests. We were very proud to be able to continue our respite services during this very challenging year. Our sessional staff were amazing. They really took on board the new risk assessments and working practices and just got on with it. It is not easy playing in PPE but they managed it!

By way of some context our visit figures for 2019-2020 were 24800. In this year they were 3800.

With the buildings closed we used the time to do some maintenance and development. We:

Page 8

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

CHAIRMAN’S REPORT (Continued)

One of our main challenges early on was maintaining the site and outdoor equipment, a job normally made easier by volunteer groups of painters and gardeners. This army of volunteers was not available during the bulk of this year. When we returned after our initial 3-month absence TLC was definitely needed. With what volunteers we could muster (thank you!) we had a ‘day of action’ and did what we could to paint, sweep, clean and repair.

But the year wasn’t all doom and gloom – let’s face it - you can’t come to TVAP without having a good time. We still saw millions of smiles, gallons of laughter and a lot of stress relieving, family affirming, confidence building fun, fun, fun.

We welcomed a new Trustee – Ian Perkins, who brings both experience of parenting a special needs child and much needed IT skills. Ian has been responsible for the development of our on-line booking request system and is also now our System Administrator for our CRM database system.

Thanks to the ongoing generosity of our supporters, the prudence of our Finance team in sustaining reserves, the availability of the government furlough scheme and Reama’s efforts in obtaining several new grants, we are in a stronger position than many other charities to cope, but nevertheless the pressure on user contributions and fundraising events going forward and the imminent loss of furlough support, presents us with significant operational and financial challenges.

We are so proud of our staff and our beneficiaries for getting through this unprecedented year with such grace and strength. It is a story of triumph over adversity, hope over despair and community over isolation. We have learnt so much. We have learnt not to underestimate the smallest act of support, to value the opportunities when they are given and to understand how our choices have impact, small and great.

Whilst we maintained a risk averse working model for a lot of this year, we didn’t use that as a reason not to do things, instead we used it as a way to learn alternative, sometimes better, ways of doing things. We have always had a can-do attitude and that was so needed this year. If ever our users didn’t need to see our ducks’ wildly paddling feet beneath the millpond, it was now.

The Playground still offered a place to be calm, to be loud, to be together, to be valued and to be yourself. However, mostly, for a lot of this year – TVAP was a place to be out of the house! – a place to forget real life for a bit and enjoy some Playground life!

Whilst we are not sure what the coming year may hold, we are proud to still be here – to be part of so many lives and to continue help in whatever way we can to make life just a bit better.

And 2022 is our 40[th] Anniversary!!

Page 9

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

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 2021, appears on page 16 of this report.

Total income for the year (net of fundraising costs) was £323,586 (2020: £349,718) and was principally composed of donations of £200,359 (2020: £232,204) , user contributions and memberships of £32,407 (2020: £99,390) , net fundraising and other income of £2,334 (2020: £5,123) , and interest received of £Nil (2020: £4,747) . Local authority funding and grants amounted to £9,274 (2020: £8,254) which accounted for less than 2.9% of total income. Finally, the charity received £79,212 (2020: £Nil) of Coronavirus Job Retention Scheme grant income. The charity’s accounts continue therefore to demonstrate its dependence on voluntary income. The playground is a lifeline for thousands of users coming from as many as 20 different counties, and we continue to hope that significant improvements in the level of local authority funding will be made over coming years.

Total expenditure on charitable activities for the year was £382,135 (2020 : £434,220 ) . The majority of this expenditure related to staff and pension costs amounting to £277,466 (2019: £295,283). The Trustees consider the playground manager and 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 £28,685 (2020: £32,808) , most of which relates to the annual writing-down of the new annex.

The above factors resulted in an overall financial deficit for the year of £58,549 (2020: £84,502).

The Balance Sheet, which records the charity’s assets and liabilities as at 31 March 2021, appears on page 17.

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 1 and 2 years of core annual expenditure. A designated fund was set up in 2020 to put aside £200,000 for the substantial weatherproofing of the outside areas of the playground to facilitate enhanced year-round use and to accommodate ‘social distancing’ into the medium/long-term future. The charity’s free reserves at the end of the year under review were £329,722 (2020: £367,417). Core annual expenditure for the year was £328,148 (2020: £386,222) . Free reserves were thus equivalent to 1.01 years of core annual expenditure (2020: 0.95 years) which is just within the range set by the charity’s current reserves policy.

The charity’s total cash funds as at the year-end were £541,669 (2020: £585,455)

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

Page 10

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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 of approximately of £328,000 per annum.

Covid-19 had a significant effect on the charity's financial performance during the year under review and has continued to present challenges post-year-end. The playground had to close for a period, and to limit the number of users in order to observe social distancing while open, and this inevitably resulted in a reduction of income from user contributions. However, to date, income from donations has been maintained at a good level, the charity has benefited from grant income under the government furlough scheme, and the charity's cash reserves remain strong. 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 users.

Approved by the Trustees on 12 January 2022. and signed on their behalf by

A Black J Malkinson Chairman Treasurer

Page 11

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION 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 12

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

Opinion

We have audited the financial statements of Thames valley Adventure Playground for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 13

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION (CONTINUED)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 152 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charity operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Charities Act 2011, together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

Page 14

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THAMES VALLEY

ADVENTURE PLAYGROUND ASSOCIATION (CONTINUED)

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charity’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity for fraud. The laws and regulations we considered in this context were General Data Protection Regulations (GDPR), safeguarding of children and Health and Safety.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management and the Trustee Board about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Crowe U.K. LLP Statutory Auditor Reading

Date: 12 January 2022.

Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 15

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2021

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
Net movement in funds
Fund at 1 April 2020
Fund balances carried forward
12		 General
Fund
£
199,632
9,274
3,034
-
79,212
291,152
700
352,617
353,317
(62,165)
587,512
525,347		 Designated
Fund
-
-
-
-
-
-
-
-
-
-
200,000
200,000		 Restricted
Fund
£
33,134
-
-
-
-
33,134
-
29,518
29,518
3,616
34,102
37,718		 Total
Funds
2021
£
232,766
9,274
3,034
-
79,212
324,286
700
382,135
382,835
(58,549)
821,614
763,065		 Total
Funds
2020
£
331,594
-
8,254
6,695
4,747
-
351,290
1,572
434,220
435,792
(84,502)
906,116
821,614

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 18 to 26 form part of these financial statements

Page 16

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

BALANCE SHEET

31 MARCH 2021

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
General Fund
12
Designated Fund
12		 31 March
2021
£
£
224,493
8,272
541,669
549,941
(11,369)
538,572
763,065
37,718
525,347
200,000
725,347
763,065		 31 March
2020
£
253,179
7,871
585,455
593,326
(24,891)

568,435
821,614
34,102
587,512
200,000
787,512
821,614

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 January 2022.

A Black J Malkinson Chairman Treasurer

The notes on pages 18 to 26 form part of these financial statements

Page 17

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

a) BASIS OF PREPARATION

TVAP is a charity registered in the UK (charity number 278336) 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 2015) – (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 have considered how COVID-19 could affect the accounting policies that underlie these financial statements, and have reviewed expenditure against liquidity. Following this review the Trustees consider that there are adequate cash resources and sufficient reserves at the 31 March 2021 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.

Coronavirus Job Retention Scheme (CJRS) grant income

Grants are accounted for under the performance model as permitted by the Charity SORP. CJRS grant income is therefore recognised on a straight-line basis over the furlough period for each relevant employee.

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 18

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

d) GIFT AID

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

e) TERMINATION AND REDUNDANCY PAYMENTS:

A liability is recognised when a commitment is made to:

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 charities 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 19

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

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 designated and 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

General donations
User contributions
& memberships		 Unrestricted
Funds
£
167,225
32,407
199,632		 Restricted
Funds
£
33,134
-
33,134		 Total
2021
£
200,359
32,407
232,766		 Total
2020
£
232,204
99,390
331,594

4. FUNDRAISING – MAIN EVENTS

Fundraising Events - Income
Fundraising Events - Cost
Fundraising Events - Net		 Year ended
31 March
2021
£
3,034
(700)
2,334		 Year ended
31 March
2020
£
6,695
(1,572)
5,123

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

Page 20

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

FOR THE YEAR ENDED 31 MARCH 2021

NOTES TO THE FINANCIAL STATEMENTS

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
2021
£
243,575
20,017
4,461
697
762
7,321
6,441
18,467
-
-
24,469
326,210
12,820
1,054
745
1,355
1,464
6,900
2,069
26,407
352,617
25,302
4,216
29,518
382,135		 Year ended
31 March
2020
£
261,477
19,042
3,576
2,285
1,237
8,216
6,384
50,592
873
4,318
27,872
385,872
13,762
1,002
1,540
1,408
1,644
7,160
1,706
28,222
414,094
15,190
4,936
20,126
434,220

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

Total governance costs included above are £4,740 (2020: £4,512)

Page 21

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

6. NET INCOME/(EXPENDITURE)

Is stated after charging:
Net movement in funds is stated after charging:
Depreciation of fixed assets
Auditors’ remuneration (including VAT)
TAFF COSTS
Wages and salaries
Social security
Pension		 Year ended
31 March
2021
£
28,685
4,740
Year ended
31 March
2021
£
242,394
14,001
21,071
277,466		 Year ended
31 March
2020
£
32,808
4,512
Year ended
31 March
2020
£
259,163
16,076
20,044
295,283

7. STAFF COSTS

Page 22

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

8. TRUSTEES AND OTHER EMPLOYEES

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

Playground Manager and play workers
Sessional play staff
Maintenance
Engagement Manager
User support and liaison		 2021
No
3
18
1
1
2
25		 2020
No
3
27
1
1
2
34

The key management personnel comprise the Trustees, the Playground Manager and the Engagement Manager.

The cost of employee remuneration and benefits of the key management personnel was £108,369 (2020: £107,952)

No trustees were paid any remuneration during the year. During the year a total of £0 (2020: £140) was reimbursed to Trustees in respect of travel expenses.

No employees had employee benefits in excess of £60,000 per annum ( 2020: none).

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 £21,070 ( 2020: £20,044 ) were paid. There were no outstanding contributions at the year end.

9.

TANGIBLE FIXED ASSETS

Cost:
At 1 April 2020
Additions
Disposals
At 31 March 2021
Depreciation:
At 1 April 2020
Charge for the year
Disposals
At 31 March 2021
Net book value
at 31 March 2021
At 31 March 2020		 Motor van
£
3,050
-
-
3,050
3,050
-
-
3,050
-
-		 Building and
equipment
£
918,644
-
-
918,644
665,466
28,685
-
694,151
224,493
253,179		 Total
£
921,694
-
-
921,694
668,516
28,685
-
697,201
224,493
253,179

Page 23

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

10. DEBTORS

Other debtors
Taxation – Gift Aid
Prepayments
Accrued Income
REDITORS:Amounts falling due within one year
Trade creditors
Taxation and social security
Accruals		 31 March
2021
£
-
5,068
1,134
2,070
8,272
31 March
2021
£
2,053
4,188
5,128
11,369		 31 March
2020
£
1,376
5,176
1,299
20
7,871
31 March
2020
£
15,134
4,841
4,916
24,891

11. CREDITORS: Amounts falling due within one year

12a. FUNDS

Analysis of net assets by type at 31 March 2021

Fixed assets
Current assets
Current liabilities		 General
Fund
£
195,625
341,091
(11,369)
525,347		 Designated
Fund
-
200,000
-
200,000		 Restricted
Fund
£
28,868
8,850
-
37,718		 Total
£
224,493
549,941
(11,369)
763,065

Designated fund

The designated fund has been set aside for substantial weatherproofing of outside areas to enhance year-round usage and accommodate ‘social distancing’ into the medium/long term future.

Restricted funds

£28,868 of the restricted funds relate to the capitalised cost of the annex constructed in 2003 from funds given for that purpose. The remaining amount relates to monies given for the building of an activity train for the playground.

Page 24

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Analysis of net assets by type at 31 March 2020

Fixed assets
Current assets
Current liabilities		 General
Fund
£
220,095
392,308
(24,891)
587,512		 Designated
Fund
-
200,000
-
200,000		 Restricted
Fund
£
33,084
1,018
-
34,102		 Total
£
253,179
593,326
(24,891)
821,614

12b. Restricted Income and Expenditure analysis for year ended 31 March 2021

Annexe
Donated book keeping services
Refurbishments
Activity train
Achieving for children donation
Covid ventilation equipment		 As at 1 April
2020
£
33,084
900
118
-
-
-
34,102		 Income
Expenditure
£
£
-
(4,216)
15,510
(16,410)
-
(118)
8,850
-
5,274
(5,274)
3,500
(3,500)
33,134
(29,518)		 As at 31
March
2021
£
28,868
-
-
8,850
-
-
37,718

Income and Expenditure analysis for year ended 31 March 2020.

As at 1 April
2019
£
Annexe
38,016
Donated book keeping
services
-
Refurbishments
118
38,134		 Income
£
16,094
-
16,094		 Expenditure
£
(4,932)
(15,194)
-
(20,126)		 Transfers
£
-
-
-
-		 As at 31
March
2020
£
33,084
900
118
34,102

13 RELATED PARTY TRANSACTIONS

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

14. CAPITAL COMMITMENTS

At 31 March 2021, the charity had capital commitments amounting to £Nil ( 2020: £Nil).

Page 25

THAMES VALLEY ADVENTURE PLAYGROUND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

5. COMPARATIVE SOFA 2020

Income from:
Donations and legacies
Charitable activities
Grants & local authority
funding
Fundraising
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure
Transfer between funds
Net movement in funds
Fund at 1 April 2019
Fund balances carried forward		 General
Fund
£
315,500
8,254
6,695
4,747
335,196
1,572
414,094
415,666
(80,470)
(200,000)
(280,470)
867,982
587,512		 Designated
Fund
-
-
-
-
-
-
-
-
-
200,000
200,000
-
200,000		 Restricted
Fund
£
16,094
-
-
-
16,094
20,126
20,126
(4,032)
-
(4,032)
38,134
34,102		 Total Funds
2020
£
331,594
8,254
6,695
4,747
351,290
1,572
434,220
435,792
(84,502)
-
(84,502)
906,116
821,614

Page 26