APPENDIX A Charity Number.. 286005 BEDFORD PARK REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Bedtord Park Trugtee's Annual Report and Flnanclal Statements for the year ended 31 March 2022 Contents Page Trustee's Annual Fieport Slalemenl ol Financial Activities - Income and Expenditure Account Slalemenl ol Financial Activities- Balance Sheet Slalemenl ol Financial Activities - Cash Flow Notes to the Financial Slalements 8-14 Independent Auditors Examination 15 Bedford Park Trustee's Annual Report For the year ended 31 March 2022 Reference and Administration Details Charity Name: Bedford Park Registered Charity Number.. 286005 Principal Address.. Bedford Borough Council, Borough Hall, Cauldwell St, Bedford, MK42 9AP Trustee.. Bedford Borough Council Icorporale Trusleel Treasurer.. Bedford Borough Council Structure, Governance and Manag8m8nt Tho govornlng document Bedford Park was registered as a charity with the charities commission on 22 December 1982. Its governing document is the Conve June 1890. The land was initially transferred lo the BoroLJgh ol Bedford on 11 August 1881 and this was sanctioned by the Sl. John's Hospita ance document dated 17 Bedford Act 1881. Trustee Solectlon methods The Mayor selects and appoints 3 Members ol the Council's Executive lo form the Charity Committee, with executive powers to make all decisions falling within the Charity's remit. These 3 sub-commille8 members are responsible lor d8cisions taken on behalf ol the corporate Iruslee, Poll¢les and procedures for the appolntment, Indu¢tlon and tralnlng of Trustee Bedford Borough Council makes available lo ils members seminars and briefings on various aspects ol the Borough's lunclions, including those relating lo acting on behalf ol the Council as a corporate charity. 11 also provides reports lo members that sel out all ol the legal and other implications in order that they can properly lake the decision and ellicienlly carry out their duties. Organlsatlonal structure and declslon maklng process The committee governing the charity s activities is noted above. The Committee is ultimately responsible lo the Mayor ol the Borough Council and is charged with acting within the remit ol the governing documents. Rlsk Identlflcatlon The Trustee is cornmitted lo a programme of risk management as an element of its strategy to preserve the charttls assets, enhance productivity lor Service user5 and members ol the publi¢ and protect its employees. The Borough Council has a significant legal department as well as various other departments who are considered well versed in proactively identifying and countering potential risks to the Council and ils associated entities. Oblèctlvès and Aetlvltles for thè Publlc Ben8flt Th8 Truste8 has due regard lo the Charity Commission's public benefit guidance when setting objectives and planning activities. The purpose ol the charity is the preservation of Bedford Park in perpeluily by the use ol Bedford Borough Council as the Conservators ol Bedford Park, as an Op8n Space for the recreation and enjoyment of the public. The Open Space consists ol the lands known as Eedlord Park as marked out in the governing docum8nt. Various other lands surrounding the park have been disposed ol in accordance with the governing document remit. Th8 charity ils811 is loss making due lo thè nec8ssary upk88p ol th8 park, including main18nanc8 ol paths and gard8ning. The d81icil is eov8red by th8 Borough Couneil who has bè8n charged with thè s8rvieing ol thè park itself. Th8 Flobinson Pool, an asset ol the Bedford Borough Council, is situated on the land held by the Bedford Park eharily. 11 compli8s with the remit ol the govérning docurnenl in so lar as il is an asset lor recreational public use bul il is unlikely lo Comply with thè requiremènts ol being open space and there is no evidence that il was approved by the charity s body in operation al the dale ol construction lapproximalely 19681. This asset is not considered lo be a trust asset, how8ver, as the funds lor the construction ol thè asset wère gilled lo the eouncil specifically, the council bears all risks and rewards related lo the pool and holds the pool within ils own fixed assets. A¢hlovomont$ and Performan¢• The charity has successfully introduced some children's play parks over the previous years, and although this has increased maintenance costs, il is considered lo be in line with the charity s main objectives. The park is being maintained and kept open for the public in line with ils governing documents. Flnanclal Revlew R8vlew of flnanclal posltlon The excess ol expenditure over income was £45,1531202012021= £54,346) Irorn revenue transactions funded through a grant from Bedford Borough Council. Tangible fixed assets are included in the financial statements as fixed assets at historic cost, less provision lor depreciation and any impairment, where this cost can be reliably measured. Land is considered lo be a heritage asset and has been included al valuation. Flnanclal Revlew (contlnuedl Golng Concern Bedford Borough Council has an obligation lo meet funds required by the charity. For this reason, the Iruslees consider the charity lo be a going concern. Reserves Pollcy The charity is wholly supported by Bedford Borough Council which is commilled lo maintain and preserve Bedford Park out of its Funds. These Funds are used to meet the deficit on running expenses on a year by year basis. Consequently, this charity has no requirement for reserves. 7. Statement of Trustee's Responslbllltle8 The TrLJStee is responsible lor preparing the Trustee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepted Accounting Praclicel. The law applicable lo charities in England & Wales requires th8 Trustee lo prepare financial slalemenls lor each financial year which give a true and lair view ol the slate ol allairs of the charity and ol the incoming resources and application ol resources ol the charity lor that period. In preparing these financial stalemenls, the Trustee is required 10.. seletl suitable accounting policies and thon apply them consislenlly., observe the methods and principles ol the charities SORP., make judgements and eslimales that are reasonable and prudent., slate whether applicable accounting standards have been followed., and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The Tru51ee is responsible lor keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position ol the charity and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and Ihe provisions ol the charity's governing documents. They are also responsible lor safeguarding the assets ol the charity and hence lor taking reasonable steps for the prevention and detection ol fraud and other irregularities. Adopted and signed for on bghalf of the Trusteeon 10 January 2023 Bedford Borough Council BEDFORD PARK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Income and Expendlture Account for the year ended 31 March 2022 Note Unrestricted Restricted Funds Fund$ 202112022 202112022 Total Funds Total Funds 202112022 202012021 Income & Expendlture from: In¢omlng Resources Incoming Resources from generated funds 57,187 57,187 49,323 Activities lor generating funds.. Volunta Income rant from Bedford Borough Council Revenu8 Capital Total Incomlng Resource8 Rosources Expondad 45,153 45,153 54,348 102340 102340 103669 Cost ol generating funds.. Charilablo Activities Admin and Audit Expenses 199,8901 12.4501 199,8901 12,4501 1101,2191 12,4501 Total Resources Expendod 102 340 102340 103669 Nel loulgoingll incoming resources Nel movement in funds Total funds brought forward Movement in year Total funds carrled fonvard 6,576 142,457 149,033 149,033 142457 149033 149033 BEDFORD PARK STATEMENTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Balance Sheet as at 31 Mareh 2022 Note 2022 2021 Flxed Assets Heritage assets Tangible fixed assets Total Fixed Assets 142.457 142,457 6,576 149,033 149033 Current Assets Trade Debtors Accrued Income 1,750 2,450 896 2,450 Llabllltles Creditors.. amounts falling due within one year- Accrual and Deferred Incomè 14,2001 {3,346) Net Current Assets Net Assets 149033 149,033 The funds of the charlty Reslricled Funds Unreslricled Funds 142,457 142,457 6,576 149,033 Total charlty funds 149033 BEDFORD PARK STATEMENTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 Statement of ¢a$h Flow$ for the year to 31 Mar¢h 2022 202112022 202012021 Note Net cash provided byllus8d inl operating activities Nel cash provided byllused inl investing activities Nel cash provided byllused inl financing activities Cash and cash equlvalents durlng the reportlng perlod Cash and cash equivalents al the beginning ol the reporting period Cagh and ¢8gh equlvalents at the end ot the reportlng perlod 13 Approved and signed on behalf ol the Trustee on 10 January 2023 Bedford Borough Council The notes on pages 8-14 form part of these accounts 88dtord Park Notes to the Flnanclal Statements Forthe yearended 31st March 2022 1. Accountlng Pollclos The following accounting polici8s have been applied con51Stently in dealing with i18ms which are considered material in relation lo the charity s financial statements. (al Basis ot preparation The financial slalemenls have been prepared in accordance with the Charities Act 2011 and Financial ReF)orling Standard 102 lelleclive 1 January 20191 and under the historical cost accounting rules lexcepl lor heritage assets recorded al valuation), and in accordance with applicable United Kingdom accounting standards (Charities SOFIP IFRS 1021 and the Companies Act 20061. The accounts are prepared in sterling GBP. Th8 principal accounting policies ol the charity are sel out below. Ibl Going ¢on¢ern The governing documents place an obligation on 8edlord 8orough Gouncil lo preserve the open spaces lor the benefit ot the public. Bedford Borough Council is committed lo lullilling this obligation which is reflected through ils proactive management ol, and on- going funding for, the services and activities required. The Borough Council has significant cash reserves and on this basis, the Trustee Considers the Trust lo be a going concern lor the foreseeable lulure. Icl Fixed assets Heritage Land Bedford Park is situated lo the north of Park Avenue just outside the central area of Bedford. The objectives ol the charity are the preservation ol Bedford Park lor the recreation and enjoyment ol the public. Bedford Park is considered to be inalienable li.e. may not be disposed of without specific slalulory FX)wersl. The land itself is considered lo be a heritage asset. Tangible fixedassets These are included at historic cost less depreciation on a straight line basis lo write off their cost over their estimated useful lives. Land and commLJnily assets are not depreciated. Other fixed assets are depreciated from the year following that ol their acquisition. Typical asset lives are as follows.. Years Operational buildings Equipment 50 Idl Incoming resources Recognition ofincoming resources All incoming resources are included in the Slalemenl ol Financial Activities gross without d8duclion ol expenses in the financial y8ar in which they are enti118d lo be received. Voluntaryincome Voluntary income comprising public donations and government grants are recognised in the financial year in which they are enlilled lo be received. Rental income Rental incomè is includèd in the Charity s incoming r8sourc8s for the yèar and amounts due bul not received al th8 yearend ar8 includèd in debtors. lel Governance costs The nature ol costs allocated lo Governance is detailed in Note 5. Going concern These financial statements have been prepared on a going concern basis 2. Tax Status of the Charlty Bedford Park is a registered charity and as such. its income and gains are exempl from income lax lo the extent that they are applied to ils charitable objectives. 3. Judgments In applylng accountlng pollcles and key sOu￿e$ ot estlmatlon uncertalnty The Trustees do not consider there lo be any significant jLJdgements or areas ol management eslimalion in these financial slalements. 4. Indemnlty Insurance The Bedford Borough Council takes out indemnity insurance in respect ol all of its aclivilies. The charity does not contribute lo the cost ol that insurance. 5. Incomlng Resources Grants from 8edford Borough Councll The Bedford Borough Council meets the delicil on th8 running expenses ol the charity. Charge8 for the use of facllltle8 Fees and charges are made lo the public for the use ol certain facilities within the park, as well as admissions and services. 6. Resource8 Expended Resources expended are analysed as follows.. 202112022 202012021 Charitable aclivilies-. Grounds Maintenance Repairs and maintenance 78,043 14,896 6,338 75,363 17,024 8,070 Ollice expense allocation Sundry Expenses Depreciation 613 762 Govgrnance costs Total 2,450 102,340 2,450 103,669 No resources are expended by third parties lo undertake charitable work on behalf ol the charity. io Charltableactlvltles Expenditure on the charitable activities includes labour, premises costs, equipment, materials and other supplies and services incurred as the running costs of Bedford Park. Governance costs General Governance costs relate lo the general running of the charity. rather than specific activities within the charity and include strategic planning and costs associated th Trustee meetings. These costs are borne by Bedford Borough Council and have not been recharged lo the charity. Governanoe costs of £2,4501202012021.' £2,4501 are in respect of independent accountancy lees for the preparation and independent examination ol the financial stalemenls. Trusle8s expenses Members ol the Bedford Borough Council do not receive allowances in respect ol their responsibilities as Irusle8s. No remuneration was paid lo key management personnel during the year. 7. Support Costs The cost ol administration which includes the salaries and associated costs ol officers of the Bedford 8orough Council, together wth premises and office expenses has not been recharged lo the charity. 8. Herltage As8et8 Al 31 March 2022 the nei book value ol heritage assèts rèlating to direct ¢harilabl8 purposes amounts lo £142,4571202012021 '. £142,457). Thesè itams arè reeorded al valuation and are not depreciated. Since 1891 the primary purpose ol the Charity has been the preservation ol Bedford Park lor the recreation and enjoyment of the public, The land is included al market value based upon a valuation prepared by the Properly Services division ol the Bedford Borough Council in 2012 as this was deemed lo oller the greatest clarity to the user ol these accounts. li 9. Tanglble Flxed Assets Al 31 March 2022 the nel book value ol tangible fixed assets relating to direct charitable purposes amounts lo £6,5761202012021 .. £6,576> as set out below. Bulldlngs Equlpment Total Gross cost or valuatlon Al 31 March 2021 Additions Al 31 March 2022 6,576 67,590 74,165 67590 74 165 Depreclatlon Accumulated al 31 March 2021 D8prè¢ialion charge lor year Al 31 March 2022 67,590 67,590 67 590 67 590 N81 book valuè al 31 March 2021 Net book value at 31 March 2022 10. The Roblnson Pool In 1967, Bedford Borough Council received a gill of £356,508 10 build th8 Robinson Pool in Bedford Park. This ass81 is considered lo bè the properly ol Bedford Borough Council and does not form part ol the Bedford Park charity. 12 11. Net movement In Funds Unrestricted Funds Restrlcled Funds Total Balance al l April 2021 Nel movement in funds Balance at 31 March 2022 6,576 142,457 149,033 6,576 142,457 149,033 These funds are represented by.. Heritage Assets Other fixed assets 142,457 142,457 6,576 149,033 6,576 6,576 142,457 12. Related Party Transactlons The following disclosures are made in recognition ol the principal underlying Financial Reporting Standard 102 concerning related party Iransaclions. Bedford Borough Council, as well as being the Trustee also provides management, SUNeying, banking and adminislralive services lor the charity. The costs incurred by Bedford Borough Council in providing these services have not been charged lo the charity. 8edlord Borough Council meets the delicil on running expenses ol the charity. The Bedford Borough Council is also the Trustee ol a number ol other charitable Trusts, these Trusts do not undertake transactions with Bedford Park. A lull list ol other charitable Trusts ol which Bedford Borough Council is Trustee is available on application lo Bedford Borough Council. Members ol Bedford Borough Council are responsible lor managing the trust and are required to comply with the Council's Code ol Conduct adopted under the Localism Act 2011 and related guidance approved by the Council's Standards committee. These requirements include the following.. o Mombors musl rogislor with tho Council's Monitoring Ollicor their Disclosablo P6cuniary Interests and any Local inloresls Ihoy have under the Council's Code ol Condu¢l', Mgmbers musl disclose al meetings the exislonc8 and nature ol any Disclosable Pecuniary Interests andlor Local Inlerosls they have in any business lo b9 conducted- Any Members who have a Disclosable Pecuniary Interest in a matter being considered al a meeting musl also leave the meeting room whilst the matter concerned is being discussed and voted on and must not otherwise seek improperly to influence a decision about that business. 13 There are corresponding arrangements lor staff lo recognise interests and avoid possible conflicts of those interests. In this way, as a matter ol policy and procedure, Bedford Borough Council ensures that Members and officers do not exercise control over the decisions in which they have an interest. There are no material transactions with organisalions related by virtue ol Members and officers interests which reqLJire separate reporting. Transactions are undertaken by the Trust on a normal commercial basis. 13. Cash flow reconciliation 202112022 202012021 Net Incomellexpendlturel for the reportlng perlod las per the statement ot flnanclal actSvltlesl IlncreasellDecrease in Debtors 18541 1,983 Incr8asellDecr8asel in Creditors 854 11 ,9831 Net cash provlded byl(used In} operatlng actlvltles 14 Independent Examiner's Report to the Trustees of Bedford Park I report lo the charity Irustees on my examination ol the accounts ol the charity lor the year ended 31 March 2022 which are sel out on pages 5 10 14. Responsibilities and basis of report As the charity's Iruslees you are responsible lor the preparation ol the accounts in accordance with the requirements ol the Charities Act 20111'lhe Acl'l. I report in respect ol my examination ol the charity's accounts carried out under section 145 01 the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl ol the Act. Independent examlner's staternent I have completed my examination. I confirm that no material mallers have come lo my allenlion in connection with the examination giving me cause lo believe that in any material respect: accounting record5 were not kept in respect of tho charity as required by section 130 01 the Act., or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and conlenl ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and lair view, which is not a maller considered as parl ol an independent examination. I have no concerns and have come across no other matters in connection with the examination to which allenlion should b8 drawn in this report in order lo enable a proper understanding ol the accounts lo be reached. David Stevens 8A FCA Ellacotts Audit Services Limited Countrywide House 23 Wesl Bar Banbury Oxfordshire OX16 9SA England Dated.. 13 January 2023 15