**Charity Registration No. 298305** ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2021** **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Lydney Town Council **Charity number** 298305 **Address** Claremont House High Street Lydney Gloucestershire GL15 5DX ## **Independent examiner** Ian Price 20 Newerne Street Lydney Gloucestershire GL15 5RA ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Balance sheet|4| |Statement of cash flows|5| |Notes to the financial statements|6 - 12| ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ The trustees present their report and financial statements for the year ended 31 March 2021. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities" (applicable to charities preparing their accounts in accordance with FRS102). ## **Objectives and activities** The objectives of the charity as set out in its governing document are the provision and maintenance of Bathurst Park and recreation ground providing public benefit to the residents and visitors of Lydney. The trustees' have complied with their duty to have regard to guidance on Public Benefit published by the Charity Commission in exercising their powers and duties. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** The charity has continued its work in maintaining Bathurst Park and Recreation Ground in furtherance of Public Benefit. ## **Financial review** The trustees' believe that the charity has adequate reserves to finance its activities for the immediate future. It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level sufficient to ensure that, in the event of a significant drop in funding, the charity’s current activities can be contimued while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. No funds are in deficit. The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The plans for future periods are to continue the charity's existing work. ## **Structure, governance and management** The charity was established by a charitable trust deed on 14 November 1893. The trustees, who served during the year were: Lydney Town Council No other trustees will be recruited or appointed. The trustees' r eport was a uthorised by the Trust Secretary and signed on behalf of the Trust. Trust Secretary Dated: 26 July 2021 - 1 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE BATHURST PARK AND RECREATION GROUND TRUST** I report to the trustees on my examination of the financial statements of The Bathurst Park and Recreation Ground Trust (the charity) for the year ended 31 March 2021. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 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 accounts 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 financial statements to be reached. Ian Price 20 Newerne Street Lydney Gloucestershire GL15 5RA Dated: 18 August 2021 - 2 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2021**|2020| ||**Notes**|
**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies|**3**|54,433|77,862| |Charitable activities|**4**|5,073|7,268| |Other trading activities|**5**|-|9,456| |Investments|**6**|12|31| |Other income|**7**|3,997|7,492| |**Total income**||63,515|102,109| |**Expenditure on:**|||| |Raising funds|**8**|300|7,804| |Charitable activities|**9**|66,990|82,839| |**Total resources expended**||67,290|90,643| |**Net (expenditure)/income for the year/**|||| |**Net movement in funds**||(3,775)|
11,466| |Fund balances at 1 April 2020||506,776|495,310| |**Fund balances at 31 March 2021**||503,001|506,776| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure is unrestricted, and derives from continuing activities. - 3 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2021**_ |**Notes**
**Fixed assets**
Tangible assets
**12**
**Current assets**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
Designated funds
General unrestricted funds|**2021**
**£**
2,523
128,894
131,417
(3,518)
15,013
487,988|**£**
375,102
127,899
503,001
503,001
503,001|**2020**
**£**
2,990
122,738
125,728
(13,601)
8,230
498,546|**£**
394,649
112,127
506,776
506,776
506,776| |---|---|---|---|---| The financial statements were approved by the Trustees on 26 July 2021 Lydney Town Council **Trustee** - 4 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |**Notes**
**Cash flows from operating activities**
Cash generated from operations
**17**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash generated from/(used in)**
**investing activities**
**Net cash generated from/(used in)**
**financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2021**
**£**
-
12|**£**
6,143
12
1
6,156
122,738
128,894|**2020**
**£**
(30,017)
31|**£**
44,938
(29,986)
-
14,952
107,786
122,738| |---|---|---|---|---| - 5 - **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **1 Accounting policies** ## **Charity information** The Bathurst Park and Recreation Ground Trust is a charitable trust. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterling , which is the functional currency of the charity. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.5 Expenditure** Resources expended are recognised in the period in which they are incurred on the accruals basis, ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings 4% straight line basis Fixtures, fittings & equipment 20% straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year. - 6 - **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **1 Accounting policies** ## **(Continued)** ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Unrestricted funds** Unrestricted funds are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. ## **1.11 Restricted funds** Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. - 7 - **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |Donations and gifts
Grant income|**2021**
**£**
733
53,700
54,433|**2020**
**£**
445
77,417
77,862| |---|---|---| ## **Other** Grant income for the year ended 31 March 2021 included £53,700 (2020 - £53.700) Lydney Town Council grant, and nil (2019 - £23,717) other grants from other grant givers. ## **4 Charitable activities** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**Funds**|**Funds**| ||**2021**|**2020**| ||**£**|£| |Charitable rental income|5,073|7,268| ## **5 Other trading activities** ||**Total**|Unrestricted| |---|---|---| |||funds| ||**2021**|2020| ||**£**|£| |Fundraising events|-|9,456| - 8 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |**6**
**7**
**8**|**Investments**
**Unrestricted**Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Interest receivable
12
31
**Other income**
**2021**
**2020**
**£**
**£**
Lydney Bowling Club
3,997
3,997
Park events income
-
3,495
3,997
7,492
**Raising funds**
**Unrestricted**Unrestricted
**funds**
funds
**2021**
2020
**£**
£
Fundraising and publicity
Costs of s taging fundraising events - firework display
300
7,804
300
7,804| |---|---| - 9 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **9 Charitable activities** |Depreciation and impairment
Light, heat, water, workshop costs,
Pavilion costs, cleaning, disposables, repairs, alarm
Admin, stationery, postage, minutes
Litter picking
Repairs and renewals
Insurance
Plant costs and grounds maintenance
Play equipment maintenance
Health & safety & tree work costs
Event costs
Independent examiners fees for the independent examination
**Analysis by fund**
Unrestricted funds
**For the year ended 31 March 2020**
Unrestricted funds|**2021**
**£**
19,546
4,563
8,110
109
14,942
4,849
3,431
6,183
4,397
-
70
790
66,990
66,990
66,990
66,990|**2020**
**£**
23,754
4,836
5,959
101
15,191
1,528
4,702
12,541
4,646
1,035
7,716
830
82,839
82,839
82,839
82,839| |---|---|---| ## **10 Trustees** None of the trustees (or any persons connected with them) received any remuneration or expenses during the year. ## **11 Employees** The average monthly number of employees during the year was: |**2021**|**2020**| |---|---| |**Number**|**Number**| |2|-| £5,066 wages paid to employees for the year ended 31 March 2021 are included in pavilion costs - 10 - ## **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ |**12**
**Tangible fixed assets**
**Cost**
At 1 April 2020
At 31 March 2021
**Depreciation and impairment**
At 1 April 2020
Depreciation charged in the year
At 31 March 2021
**Carrying amount**
At 31 March 2021
At 31 March 2020
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**14**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**Land and**
**buildings**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
525,925
85,969
525,925
85,969
156,444
60,802
13,037
6,509
169,481
67,311
356,444
18,658
369,481
25,168
**2021**
**£**
60
2,023
440
2,523
**2021**
**£**
512
-
3,006
3,518|**Total**
**£**
611,894
611,894
217,246
19,546
236,792
375,102
394,649
**2020**
**£**
-
2,550
440
2,990
**2020**
**£**
512
9,883
3,206
13,601| |---|---|---| - 11 - **THE BATHURST PARK AND RECREATION GROUND TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2021**_ ## **15 Designated Funds** The income funds of the charity include the following designated funds , all held within current assets, which have been set aside out of unrestricted funds by the trustees for specific purposes: b/f 2020 Incoming Expended c/f 2021 £ £ £ £ Summer Events 8,230 283 - 8,513 Tree replacement - 3,500 - 3,500 Play equipment - 3,000 - 3,000 Totals 8,230 6,783 - 15,013 ## **16 Related party transactions** ## **Transactions with related parties** During the year the charity entered into the following transactions with related parties: Grants from Lydney Town Council are disclosed in note 3 to the accounts. |**17**
**Cash generated from operations**
**2021**
**£**
(Deficit)/surpus for the year
(3,775)
Adjustments for:
Investment income recognised in statement of financial activities
(12)
Depreciation and impairment of tangible fixed assets
19,546
Movements in working capital:
Decrease/(increase) in debtors
467
(Decrease)/increase in creditors
(10,083)
**Cash generated from operations**
6,143|**2020**
**£**
11,466
(31)
23,754
(120)
9,869
44,938| |---|---| ## 18 **Analysis of changes in net funds** The charity had no debt during the year. - 12 -