THE SHRUBBERY Charity Registration No 299098 ANNUAL REPORT & ACCOUNTS YEAR ENDED 31" MARCH 2024
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Contents Trustee's Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notesto the Accounts
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Trustee's Annual Report The Trustee is pleased to present their report and accounts for the year ended 31 March 2024. The account5 have been prepared in accordance with the accounting policie5 Set out in note 2 to the accounts arsd comply with the Trust's governing document, the Charities Act 2011 and the Statement of Recommended Practice, Charities 50RP IFR51021. Objectives and artivities Under the Essex Act 1987 Southend 8orough1sicI Council hold the land in the BorouBh1sicI known as the Shrubbery upon trust, for the enjoyment of the public as an open space under the Open Spaces Act 1906, freed and discharged from the trusts and conditions imposed by a conveyance dated 10th December 1918 made between William Gregson, John Rumbelow Brightwell and Sydney Bridge of the one part and the mayor, Aldermen and Burgesses of the Borough1sic] of Southend of the other part. In previous years, the Shrubbery was let rent free to Mr Mike Dolby who operated the Never Never Land attraction on the site. In 200112002 Mr Dolby surrendered his lease and the site. apart from the Fishermans Wharf building, is now vacant. In 2015 planning permission was granted for the demolition of the Fishermans wharf building. The building dates from 1911 and was formerly a tearoom known as The Shrubberies. In 1986, the prernises were refurbished to create Fishermans Wharf, a popular family-run seafood restaurant. A terrace was added in 2012 $0 diners could take full advantage of the views whilst being sheltered from the elements. The building was demolished in 2018 and Eroundworks for 3 new, modern restaurant began in January 2019. All works were due to be undertaken by Fishermans Wharf as the lessee with The Shrubbery benefitting from an increased rental income on completion and ownership of the asset. The Shrubbery is administered and maintained for the objects set out in its governing document by the City Council. The Trustees in making decisions about the Trust make those decisions with due regard to the objects of the Trust. In addition they have due regard to their legal duty to carry out the Trust's charitable purposes for the Public Benefit and the Charity Commissions, guidance thereon. The Shrubbery has remained available for all members of the public to benefit from and use freely for the purposes of recreation and pleasure throughout the period.
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Achievements and performance The shrubbery 15 currently maintained to allow the purposes in its Governing document set out below to take place during the financial year 2023-24. The fairy-tale castle which remained on the site after the closure of the Never Never Land attractlon has been fully restored and the watef fountain within it has been flowing again since May 2019. The sleeping giant, a huge grass figure growing out of the ground, has also been completed and is designed to draw people into the magic that is the memory of so many from their childhood. The Never Never Land attractlon flrst opened In 1935 and the castle Is part of Southend's heritage as a seaside town. The restaurant site remains empty. works having been severely delayed first due to the Coronavirus pandemic, then issues with the supply chain and high rates of inflation which have driven construction costs up and finally with the leaseholder company going into administration. DLJe to its prominent location on the Seafront the appearance of the site has been the subject of negative comments in the local press and on social media. In the short-term the Trustee5 are commltted to doing what they can to Improve the appearance of the site, while issues with the longer-term redevelopment are resolved. The Trustee considers that the performance of the charity during the year was satisfactory. Plans for the future The Trustees intend to continue with the current activity and maintain the standards of The Shrubbery. Flnanclal revlew The trust operated at a surplus for the year of £19,85512023 £47,700). This will be added to past surpluses and used to ensure the future of the trust. The company that owns the leasehold property at Fishermans Wharf went into administration on 13 August 2024. The èppointed Administrator's proposal of "realising property in order to make a distribution to one or more secured or preferential creditors" was approved in October 2024. The proposals stated that 'Based on present information, the joint Administrators thinks that the Company has insufficient property to permit a distribution to the unsecured creditors a nd that there may only be a distribution available to the secured andlor preferential creditors of the Company., As an unsecured creditor the Trustees consider it prudent to write-off outstanding debt of £44,552 as an expense in the financial year ended 31 March 2024. Reserves Policy The trust does not need to hold reserves as any deflclt which arises on the operation of the trust, should the trust have no funds to meet it, is funded by 5outhend on Sea City Council, which is 501e trustee of the trust. The trustees, agreed a scheme of arrangement with the Charity Commissioners, dated 25th June 2003, whereby past and future surpluses accruing to the Shwbbery can be used to meet deficits arising on other charitable recreation grounds for which Southend City Council acts as 501e trustee, namely Jone5 Memorial Recreation Ground, Priory Park and Victory Sports Ground.
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Golng concern The Shrubbery meets the definition of a public benefit entity under FRS102. There are no rnaterial uncertaintie5 about the charity's ability to continue as a going concern. Structure, governance and management Governing documents The Tru5Vs Governingdocument Is in the form ofa scheme sealed by Order of the ComMi10n on 25 June 2003. which superseded the original regulation by section 86 of the Essex Act 1987. Trustee recruitment and tralnlng Southend City Council elected members are corporate Trustees. Therefore Councillors once elected become a corporate Trustee of the Trust. Rlsk Assessment The city council, when carrying out risk assessments for its own activltles, Includes within the assessrnent the activities of the trust. so any major risks applicable to the trust are covered by the council arranging appropriate insurance or having in place strategies to cover other contingencies. Reference and admlnlstratlve detalls Trustee Southend-on-sea City Council Secretory/Treasurer to the Trust Southend-on-sea City Council Addre55 Civic Centre Victoria Avenue Southend-on-sea Essex SS2 6ER Independent Examiner TCGroup The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN
THE SHRUBBERY Charity Registration No 299098 St Year Ended 31 March 2024 Statement of Trustees, Responslbilhies The Trustees are responsible for preparing accounts which give a true and fair view of the state of affairs of the Charity a5 at the end of each financial year and the income and expenditure of the Charity for that period. In preparing those accounts, the Trustees are required to- Select 5Ultable and applicable accounting pollcies and then apply them consistently Make judgement and estimates that are reasonable and prudent Prepare the financial Statements on a going concern basis unless it is inappropriate to presume that the organisation will continue in business The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with charity legislation and the relevant governing instruments. They are responsible for safeguarding the Charity's assets and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. Results The Trusvs financial results are as per the annexed accounts. By order of the Trustees Signed J Chesterton (Feb 10, 2025 13:47 GMT) Joe Chesterton. Executive Director (Finance & Resources) Date Feb 10, 2025
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Independent Exarnlnerf5 Report I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 6 to ii. Responsibilities and basis of report As the Charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011 Act and in carryinE Out my examination I have followed all the applicable Directions given by the Charity Commlssion under sectSon 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination Eiving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Report51 Regulations 2008 other than anv requirement that the accounts give a 'true and fair view which is not a matter considered 35 part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mark Cummln5 FCCA FCIE For and on behalf of TC Group Off ice: Steyning, West Sussex Dated:
THE SHRUBBERY Charity Registration No 299098 $t Year Ended 31 March 2024 Statement of Financial Activities 2023124 2023124 Unrestrirted Endowmenl Funds Funds 2023124 Total Funds 2022123 Total Funds Note Income From Investments 73,130 73,130 54.893 I,ioo 55.993 Charitable activities Total Income 73,130 73,130 Expenditure on Charitable activities 53,275 53,275 53.275 53.275 8.293 8,293 Totsl expendlture Net income and net movement in funds 19,855 19A55 47,700 Reconciliation of Funds Total funds brought forward Total funds carried forward 564,125 583,980 481,940 1,046.065 481,940 1,065.920 998,365 1.046,065 All income and gain5 for the year are recognised on the statement of financial activities. All the Charity's activities are classified as continuing.
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Balance Sheet 2023124 Total Funds 2022123 Total Funds Note Flxed Assets Investment Property Total Fixed Assets 481,940 481,940 481,940 481.940 Current Assets Cash at bank and in hand 584,820 584,820 564,785 564,785 Totsl Current Assets Uabllltles Creditors.. Amounts falling due within one year Net current assets/{liabilitiesl {840) 583,980 16601 564.125 Total a55ets less current liabilities 1,065,920 1,046,065 The funds of the charity Endowment funds 481,940 583,980 1,065,920 481,940 564.125 1,046.065 Unrestricted fund5 li Total charity funds Approved by the Trustee and signed on its behalf by an authorised signatory. Slgned 04 J Chesterton (Feb 10, 2025 13.'47 GMT) Joe Chesterton. Executive Director (Finance & Resources) Southend on Sea City Council for the Trustee Date Feb 10, 2025
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Notes to the Accounts Note l Legal Status The Shrubbery is an unincorporated charity registered in England and Wales (charity number 2990981. Note 2 Accountlng Pollcles Basls olpreparotlon The account5 have been prepared in accordance with Accounting and Reporting by Charitie5'. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable In the UK and Republ ic of Ireland IFRS 1021 {effettive l January 20161- (Charities SORP IFRS 1021), and the Charities Art 2011. The Shrubbery meets the definition of a public benefit entity under FRS 102. Asset5 and liabilities are initizlly recoEnised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. There are no material uncertainties a bout the charl$ ability to continue as a 80ing concern given the continued support of Southend City Council. Cash Flow Stotement In accordance with the Charities SORP IFRS 1021 the charity is claiming exemption from the req uirement to prepare a cash flow statement on account of it being a small charity. Inrnme Charitable activities income is recognised when receivable. Investrnent income represents income from rent and 15 recognised when receivable. Expenditure Expenditure is accounted for on an accruals basis exclusive of the element of VAT which is recoverable by Southend City Council in accordance with VAT Notice 749 para 7.5. Charitable expenditure compri5e5 those costs incurred by the charity in the delivery of its activitie5 and services for its beneficiaries. Investment Property Investment property Is held at falr value with movements being taken to the Statement of Financial Actwities.
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Note 2 Account5ng Poll¢ies {continued} Cash ot bank and In hand Cash at bank and in hand includes cash and short term hlghly liquld investments. No separate bank account is maintained by the Trust, therefore all income and expenditure passes through the Clty Council's account. and its cash balances are held within the City Council's general bank account. Creditor5 and prov151ons Creditors and provisions are recognised where the charity has present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Crltlcal accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make jL¢dgements, 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 assumptlons are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revlsed. The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements. Note 3 Investment Income 2024 2023 Rent Receivable Interest 44.552 28,578 73.130 44,552 10,341 54,893 Note 4 Cost of Charltable Actlvltles 2024 2023 Employee5 Building/Ground Maintenance Transport Insurance 3,040 3,387 334 2,755 3.524 17 Supplies & Service5 Bad Debt Expense Governance costs 621 895 44,552 840 501 660 Administration 441 53.275 8,293
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 The support costs incurred are the administration Services provided by Southend City Council and governance costs. Total support costs for the year were £1,34112023 £1,1011. Governance costs comprise solely of fees paid to independent examiners. Durlng the year £84012023 £6601 was paid to the independent examiner in respect of examination services. Employee costs relate to employees of the Council. No staff were remunerated over £60.0(KJ in the year. The charity is managed by Southend City Council and doesn't have any key management personnel. Note 5 Investment Property Investment Property Falr Value Balance brought forward @ 01104123 Revaluation Balance carried forward @ 31103124 481,940 481,940 The investment property was revalued by Jamie Redden MRICS on 31 March 2024 and represents the value of the proposed two storey restaurant premises with basement and terraces. Conditional planning approved 2nd September 2015 application 15100955/BC4. There has been no material change to the value Since that date. Note 6 Creditors Amounts falling due within one year 2024 2023 Other Creditors 840 660 Note 7 Endowment fund The endowment fijnd comprlsesthe investment property. Note 8 Trustee rernuneratlon No trustee was paid in respect of their services as a trustee in 2023 or 2024 and no expenditure was reimbursed. io
THE SHRUBBERY Charity Registration No 299098 Year Ended 31" March 2024 Note 9 Related Party Transactions During the year the trustee (Sohend City Council) collected £73,13012023 £55,993) on behalf of the Trust in respect of investment income. The Trust paid the Council £7.382 in respect of operating costs for the year12023'. £7,633). Note 10 Comparatlve Funds All income and expenditure in 2023124 was unrestricted. Note 11 Net Assets Between Funds Year Ending 31# Morch 2024 Unrestrlrted Endowment Totsl Flxed Assets 481,940 481,940 584,820 1840) 1.065,920 Current Assets 584.820 18401 583,980 Current Liabilities Total 481,940 Yeor Ending 31st Morch 2023 Unrestrlcted Endowment Total Flxed Assets 481,940 481,940 564,785 1660} 1,046,065 Current Assets 564,785 16601 564.125 Current Llabllltles Totsl 481.940 li