Charlty Registration No. 298305 THE BATHURST PARKAND RECREATION GROUND TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
THE BATHURST PARK AND RECREATION GROUND TRUST LEGAL AND ADMINISTrATIVE INFORMATION Trust¢¢s Lydney Town Gn¢11 Charlty number 298305 Address Claremont House High Street Lydney Gloucestershire GL15 5DX Independent examlnor Stephen HumphTie5 Griffiths Marshall 20 Neweme Street Lydney GL15 5RA
THE BATHURST PARKAND RECREATION GROUND TRUST CONTENTS Page Trustees, report Independent examinerfs report Stslement of financial aclivities Balance sheet SL2tement of cash flows Notes to the financial statements 6-13
THE BATHURST PARK AND RECREATION GROUND TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present Ihelr annual report and financial stetements for the year ended 31 March 2024. The accounts have been prepared in a¢caydance with tho accounting poliaes set out in note 1 to the accounts and comply wth the charity's governing document, the Charrties Ad 2011 and the Slalement of Recommended Practice, 'kcounting and Reporting by Charities. lapplicable to chartbes prep8ring thelr accounts aGGordan(8 with FRS102)- Objectives and actlvltles The obj'ectives of the charity as set out in its goveming document are the provision and maintsnance of Bathurst Park and recreation gr(nd providing publlc benefit to the residents and visitors of Lydngy. The Iruslees. have fflpl wth their duty to have regard to guidance on Public Benefft PLblish8d by th8 Charity Commission in exercising their F4)wers and duties. The trustees have paid due regard to guidance Issued by the Chanty Commission in deading what actiwties the charity should undertake. Aehlevements and porfomlance The charity has continued ils work in maintaining Balhurst Park and Recreation Ground in furtheran of Public Benefrt. Flnanclal revlew The trustees. believe Ihat the charlty has adequate reserves to finance it$ actNities for the immediate flrture. 11 is the policy of the charity that unre5tri¢led funds whith have not beèn designated for a speryfic use should te maintained at a level sufficient to ensure that, in the event of a significant drop in fvnding, the charity's current activits'es can be conlimued while consideration is given to ways in which additional fvnds may be raised. This level of reserves has been maintsined throughout the year. No funds are in defiuL The trustees has assessed the major risks lo which the eharity is exposed, are satisfied Ihat systems are in place to mitigate exposure to the major risks. Th8 plans for fvlure periods are to continue the charty's existing work. Slructurg* governancè and managemgnt The tharity was established by a tharilable trust deed on 14 November 1893. The Irustees. who served during the year were: Lydney Town Council No other trustees will b8 recrurted or aNY)inted. The trustees, report was authorfsed by the Trust Secretary and signeil cffl behalf of the Trust. Trust Secretary Dated.. 29 July 2024
THE BATHURST PARK AND RECREATION GROUND TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BATHURST PARKAND RECREATION GROUND TRUST I report to tt)8 trustees on my examination of the financial statements of The Bathurst Park and Recreation Ground Trust (the charilyl for th8 year ended 31 March 2024. Responslbllhles and basls of report As the trustees of th& charity you arè responsible for the weparation of the financial statements in accordance wth the requirements of the Charities Act 2011 (the 2011 Act). I roport in respect of my examination of the charity's financial statements carried out under se¢tion 145 of the 2011 Act. In carrying out my examination I have followed all the applt¢abJe Directions given by the Charity Commisgon under Section 145(51(b} of the 2011 Act. Independent oxamlngr's statement I have wmpleled my examination. l ¢onfim) that no matters have come to my attenlion in connection with the examinakn.on gniing me cause to believe that in any material respèct.. accounting records were not kept in respect of the Charity as required by $8ction 130 ofthe 2011 Act" or the financial statements do not accord wlh those records. OT the financial statements do not eompty with the applicable requirements concerning the fom and content of aecounts set out in the Charities (Attounts and Reports) Regulations 2c8 other than any requirement that the acnts give a true and fair view whlch is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connectlon wlh the examination to ¥thich attention should be drawn in this reptrrt in order to enable a proper understanding of the ffinancial statements to be rhed. stgphon Humphrles Griffiths Marshall 20 Newerne Street Lydney Gloucestershire GL15 5RA Dated-. 30 August 2024
THE BATHURST PARK AND RECREATION GROUND TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unr•strlcted Unrnstricted funds funds 2024 2023 Income and ondowments from: Donations and legaaes Charitable acts"vilies other trading activities Investments other income 52,200 9,259 10,D38 1.315 12,754 50.000 7,907 9,967 254 8.904 Total Incom8 85,566 T7,032 ExpendItU on: Raising fijnds Charitable activities 10.061 98.811 9,026 84,91 S Total expgnditUTe 108,8n 93,941 Not oxponditurn and mov•m•nt in funds (23.3061 {16,909} ReconclllatSon of funds: Fund balances al 1 April 2023 484,777 501,686 Fund balances at 31 March 2024 461.471 484.777 All incorne and expendllure is unrestricted, and derives from continuing aclivities.
THE BATHURST PARK AND RECREATION GROUND TRUST BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Mol Flxod a$$ets Tangible assets Current assets Debtors Cash at bank and in hand 14 331,033 336.373 15 7,543 124.886 2,519 149.268 132,429 151.787 Credltors: amounts falllng due wlthln one year 16 11,9911 13.3831 Net current assets 130.438 148.404 Total assets 1g$s currènt liabllltl88 461,471 484,777 Incorne funds Un Designated fijnds General unrestricted funds 17 57,729 403,742 89,353 415,424 461,471 484.777 461,471 484,777 The finarKial ststements were approved by thè Trustees on 29 Juty 2024 Lydney Town cOuj1 Truslee
THE BATHURST PARKAND RECREATION GROUND TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notès Cash flows from operating activities Cash (absorbed by}Igenerated from operations 19 {8,573) 3.152 Investlng actlvltles Purchase of tangible fixed assets Investment income received {17,1241 1.315 254 Net cash lused In}Igen9rated from Investlng adivltles 115,8091 254 Net Cash used In flnanclng actlvltltr8 Net {decrea$eVlncroase In ¢ash and cash oqulvalents {24.382) Cash and cash equivalents at beginnlng of year 149,268 145.862 Cash and cash equivalents at end of year 124,886 149,268
THE BATHURST PARK AND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollclos Charity infomiation The Bathurst Park and R8cr8alion Ground Trust is a charitab trust. 1.1 Accounting conventlon The financial slalements have been prepared in accordance wlh the tharitys Igoveming document], the Charities Act 2011, FRS 102 'The Finanry81 Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102°) and the Charitie5 SORP "Accounting and Reporbng by Charities= Statement of Recommended Practice applicable to charttles preparing their a¢¢ounts in accord¢? wlh the Financial Reporting Standard applicable in the UK ond Republic of Ireland IFRS 102)" leffeclive 1 January 2019}. The tharity is 8 Publlc Benefit Entty as defined by FRS 102. The accounts are prepared in sterling. whlch is the fvndional currency of the charity. The fin?ncial stslements have been prepared under th8 historieal cost convention. The priniip81 accounting pol'¢*s adopted are set out b81ow. 12 Golng Goncem At the lime of approving the financial slatemenls. the trustees have a reasonable expectation that the Charty has gdequale resources to continue in operational existence for the foreseeable future. Thus the trustees eontinue to adopt the going ¢oncem basis of accounting in preparsn9 the fina181 slalements. 1.3 Charilable lunds Unrèstricted fiJnd$ are available for uso at the discretion of the trustees in furtheran¢e of theSr charitable obltIVes. Restricted fijnds are Su.eCt to speryfic conditions by donors a$ to how they may be used. The wrposes and uses of the reslriL#ed funds are sel out in the notes lo Ihe aGGounts. 1A Income Ino)me is recognised then the charity is legally entllled to it after any performance conditions have been met, the amounts can be measuied reliably, and il 1$ probable that income will bè Ceived_ 1.5 Expendlturg ExperKJiture Is recognised once there 15 8 legal or constructive ci)ligation to transfer economic benefit to third party, il is probable that a transfer of economic benefits wlll be required in settlement, the amount of the obligation can be m8asured reliably. ExpeThditure is dassified by activity. The cost5 of each actiwty are made up of the totsl of direct costs and shared costs, including Support costs involved in undertaking eth activty- Direct costs attrilxjlable to a single aciivity are allocated directly to that activity. Shared costs 1¢h contribute to more than one activity aTrJ support costs whioh are not attributsble to a single activity are apportioned between those adiwties on 8 basis consislenl with the use of resources. Central 51aff costs are allocated on the bass of lime spent, and depreciation rtrg8S are allocated on the portion of the asset's use. Resource¥ expended are recognised in the perfod In lch they a in¢urr8d on the accwals ba$ls,
THE BATHURST PARKAND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {Contlnued) 1.6 Tanglble flxed assots Tangible fixed assets are initially measured al cost and subsequently measured at cLJst or valuth'on, net of depr$¢ialion and 8ny impaimient10sse$. Depreciation 18 recognised so as to write off the co31 or valuatlon of assets less their resIdl values over thelr useful lives on the following bases.. Land and building$ FixtUT8S, fittings & equipment 4% straight line basis 20% Slraighl line b8SI8 The gain or loss arlsing on the disposal of an asset is detem)Ined as the difference befyveen the sale proceeds and the carrying value of the asset. a1 is recognised in the stslemenl of financial acb"vities. 1.7 Impalrnient of flx9d Sets Al each reporbng end date, the charity revlews the carrying amounts of its tangible and intangible assets lo detemiine whether there is any indicakn'on that thos8 assets have suffered an impairment loss. If any such indi¢ion exists. the recovèiable amount of the asset is estimated in order lo detemiine the extent of the impaimient loss Irf any). 1.8 Cash and ca8h wulvalents Cash and cash equivalents include cash In hand. deposits held at call vAlh banks, other 5hort-temi liquid investments with original maturities of three m¢Mths or less. and bank overdrafts. Bank overdrafts are Shown within borrowings in current liabilities. 1.9 Financlal Instrumonts The charity has elected to apply the provisions of Sedion 11 '88sic FInarla1 Instruments, and Section 12 'Olher Financial Instrument5 l$$ues' of FRS 11Y2 to all of its Ilnancial instrumen Flnanual instruments are recognised in the tharity's balance sheet %then the charity becomgs paty lo the contractual Provisions of the instrument. Bpsic financial assets Basic financial assets, which inclLJe debtor5 and cash and bank balances, ar8 initially measured at transath'on price includir)g transaction msts and are subsequenY carried at amortised cost U3ing the effective interest method unless the arrangement ennslitules a financing transaction, where the transaction 1$ measuréd at the present value of the future receipts discounted at a market rate of interest. Financial as$ets ClaSfied as receivat4e wthin one year are not amortised. Baslc flnancial liabilities Basie financial liabilrties, including creditors and bonk loans are initially recognised at transaction price unless th8 arrangement conslitLrtes a finanang transaction, where the debt instrument is measureil at the present value of the future payments discounted at a market rale of interest. Financial liats'lities classrfied as payable thin year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade editOrS are ObligatnS to pay for gotrds or seNices that have been acquir in the ordinary course of OP8rations from suppliers. Amounts PaYae 8re classified as current liabilities if payment 15 due wthin one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initsally at transaction pric£ and subsequently measured at amorb$ed eosl uging the 8ff8ctive Interest rneld.
THE BATHURST PARKAND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Contlnuodl Derncognition of financial Ilabllltles Finanal liabilib.es are derecognis8d %then the charl$ contractual obligations expl or are éischaiged or cancdled. 1.10 Employee beneflts Th8 Cost of beneffts for employees, includlng any unused holiday entitlement, is r¢¢ognise(l in the period in which the employee's services are recewed. 1.11 Unrestrfcted fund¥ Unrestricted funds are inming resources receivable or generated for the object$ of the charity vthout further specified purpose and are available as general funds. 1.12 Restrktod lunds Restr(cted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in Ihe note8 to the financial statements. Critical accountlng estlmates and Judgements In the application of the charity's a¢¢ounting policies. the trustees are required to make judgements, eslim8tes and assumptions about the carying amount of assets and liabilities that are not readity apparènt from other Sour$. The ests"m8tes and associated assumptions are based on historical exper1ere and other factors that are considered to be relevant. Actual resuKs may differ from these estimates. The estimates and underlying assumptions are Teviewed on an ongolng basi¥. Revislons lo accounting e$limates are recx)gnised in the period in which the estimate is revised wher8 the revision affects only that period, or In the period of the wision and fvrture p8riods where the reViSn affects both cAwrent and future periods. Donatlons and l•gacles 2024 2023 Grant income 52.200 50.000 Othèr Grant inc¢Jme for the year ended 31 March 2024 included £52,20012D23 - £50.0001 Lydney Town C0ClI grants. Charltable actlvltles Urtrnstrfcted Fund$ 2024 Unrestrlctfjd Fundg 2023 Charitsble nI81 income 9.259 7,907
THE BATHURST PARKAND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from oth•r tradlng adNltles Unrestrfcted Unrestrlcted nds funds 2024 2023 Fundraising evenls 10,038 9,967 Income from Investmwts Unre8trict•d Unrestricted funds funds 2024 2023 Interest receivable 1,315 254 Other income 2024 2023 Lydney B0Ing Club Park events income Mi$¢ellaneous Income Insurance claim 4,389 8,365 4.258 1,000 1,026 2,620 12,754 8,904 Expendlture on rnhlng funds Unrestrlcted Unrestrfcted funds funds 2024 2023 Fundraislng and publlclty Costs of staging fundraising events- firework display 10.061 9.026
THE BATHURST PARK AND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charll•bl8 activitieg 2024 2023 Depreciation and impairment Light, h8al, water, workshop costs, Pavilion costs, d8aning, disposables. repairs, alarm Administration Litter pid(ing Repairs and renewals Insurance Plant costs and grounds mainlenarKe Play equipment maintenance Legal and professwal Health & safety & tree work costs Event C051s Independent examirers fee$ for the independent examination 22,484 13,509 2,012 7,233 17.529 10,004 12,624 5,198 4,565 19,183 7,541 12.883 15,226 893 4,131 13,465 4,595 650 335 4,972 870 19 2,754 900 98,811 84,915 98,811 84,915 Analysis by fund Unrestricted funds 98,811 98,811 For the year ended 31 March 2023 Unrestricted funds 84,915 84,915 10 Netmovement In fund8 2024 2023 The net movement in fvnds is ststed after chargingl{crediting)'. Depreciation of owned tangble fixed as¥ets 22,464 19,183 11 Trustees None of the trustees lor any persons ccnnected with them) received any remuneTation or expense5 durirKJ the year. 10-
THE BATHURST PARK AND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees The average montrty number of employees during the year was.. 2024 Number 2023 Number £6.223 {2023 -£5.5891 wages paid to èmployees for the year ended 31 March 2024 are included in Administralion co$ls12023- Pavilion Gosts). The were no employ8es whose annual remuneration was more than £60,000. 13 Taxauon The charity is exempt from taxation on its activities because all rts income is applied for charitsble purposes. 14 Tanglbl# fix•d assets Lond and bulldln Fixtures. fittings & •qulpment Totsl At 1 April 2023 Additions 525,925 85.969 17.124 611,894 17,124 At 31 March 2024 525,925 103,093 629,018 Dtpreclatlon and Impalrmgnt At 1 April 2023 Depre¢iatlon charged in Ihe year 195.555 13.037 79,968 9,427 275,521 22,464 At 31 March 2024 208,592 89,393 297,985 Carrylng amount At 31 March 2024 317,333 13.700 331,033 At 31 March 2023 330,370 6.003 336,373 11
THE BATHURST PARK AND RECREATION GROUND TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Dobtord 2024 2023 Amounts falling due w5th1n one year. Trade debtors (Xher debtOTS Pftpaymenls and acuued income 1,986 5.089 468 150 1,919 450 7.543 2.519 16 Credilorn: 8mounts falling du¢thIn one yoar 2024 2023 Trade ¢WitS Accruals and deferred income 1.091 512 2,871 1,991 3,383 17 Unre$trlc¢fjd funds The income funds of the chartty indude the foll¢)wlng designated funds which have been set aside out of unrestricted funds by tha trustees for specifiG purposes.. At 1 Aprll 2023 Incomlng Resources resources *xpènded Transfvrs At 31 March 2024 Summer Events Tree ReplaCemt Play Equipment Replacement Special Projects and Bandslan General funds 4,541 9,700 18,300 36,812 415,424 3,500 8,041 9.700 1.176 38.812 403.742 117,1241 2,000 11,624 85,566 1108.8721 484,777 85.586 1108,8721 461,471 Prevlous year: At 1 Aprll 2022 Incomlng Tesources Resources 6xpended Tr•n$f•Ys At 31 March 2023 Summer Events Tr86 Replacement Play Equipment Replacernent Speci81 Projects General funds 8.513 9.700 10,300 28.125 445.048 13,972} 4.541 9.700 18,300 36,812 415.424 8.000 8.687 {12.715) 77,032 <93,9411 501,686 77,032 {93,941) 484.777 12-
THE BATHURST PARK AND RECREATION GROUND TRUST NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 unrestrict funds {Contlnued} The designated funds are held a5 part of current assets at 31 March 2024. 18 R•latsd paty transadion5 Transactlons wlth r•latsd part19$ During the year the d)arity ented into the followng transactions wth rglal8d parties.. Grants from Lydney Town Coun¢il are disclos8d in note 3 to the accounts. 19 Cash g8n8ratèd from oporntion$ 2024 2023 Defiat for the year 123,3061 (16,9091 Adjustment$ for. Investment income CognIsed in statement of financial activit$ Depreciation and impairment of larrfJible fixed assets (1,3151 22.464 {2541 19,183 Movements in working capital.. Ilncreasel in debtors IDecreasellin¢rease In credrtors (5.0241 11.3921 1331) 1,463 Cash labsorbod byllgenernted from operntlons 18.5731 3,152 20 Analysls of ¢hanges In net funds The charity had no materral debt duriThJ the year. 13-