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2023-03-31-accounts

Lower Central Gardens Bournemouth

Charity No. 299739

Trustee's Report and Audited Accounts

31 March 2023

Lower Central Gardens Bournemouth Contents

Pages
Trustee's Annual Report 2 to 5
Auditor's Report 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Statement of Cash flows 11
Notes to the Accounts 12 to 21
Detailed Statement of Financial Activities 22 to 23

Page 1

Lower Central Gardens Bournemouth Trustees Annual Report

The trustee presents their report with the audited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity No. 299739

Principal Office

Civic Centre Bourne Avenue Bournemouth Dorset BH2 6DY

Trustee

The following trustee served during the year:

BCP Council

Key Management Personnel

Councillor Lawrence Williams Councillor Simon Bull Councillor Stephen Bartlett Councillor Mike Greene Councillor Vikki Slade Mr Roger Boon Councillor Matthew Gillett Councillor Jamie Martin Councillor Bernadette Nanovo Chief Executive Officer - Mr Ian Poultney

Auditor

Hixsons 24 Cecil Avenue Bournemouth BH8 9EJ

OBJECTIVES AND ACTIVITIES

The object of the charity is the provision of open space for the recreation and enjoyment of the public. The Gardens are Listed Grade II in the Historic England "Register of Parks and Gardens".

The Charity is subject to several strategies that design the way that objectives are being fulfilled. The main document is Lower, Central & Upper Gardens 5-year Management Plan which was drafted in conjunction with: Bournemouth 2026 Community Strategy, Green Space Strategy, Playground Strategy, Nature Conservation Strategy.

The Management Plan and Lower Gardens Masterplan are providing details of proposals to improve the visitors' experience in the Gardens. The examples of these are: to review planting and phase replacement with new water tolerant planting, to refine and improve Christmas events in Lower Gardens to ensure smooth running, 4-year plan to renovate all the shrubs/tree boarders along Westover Road, to develop Westover Gardens as an area for the arts and other community events.

ACHIEVEMENTS AND PERFORMANCE

Page 2

Lower Central Gardens Bournemouth

Trustees Annual Report

The event highlights were the Air Festival (August 2022), the Bournemouth Marathon (October 2022), the Arts By The Sea Festival (September 2022) and winter ice rink and Christmas Tree Wonderland (November 2022 - January 2023).

FINANCIAL REVIEW

Historically the Council, in its role as local authority and corporate trustee, has provided donated services each year sufficient for the charity to achieve breakeven and meet any liabilities as they fall due. This is currently the policy that is expected to continue and so the accounts have been prepared on a going concern basis. The trustee considers that there are no material uncertainties about the charity's ability to continue as a going concern. The restricted income fund of £2,729,600 represents change in the fixed assets value and is not used for distribution. The endowment fund of £19,212,000 is held on trust to be retained for the benefit of the charity as a capital fund. The trustee must permanently maintain the whole of the fund. The fund consists of assets that are used for the purposes of the charity and cannot be spent as if it were income. The net revenue expenditure supports the objective of the Trust.

The Charity holds an unrestricted income fund of £9,559 is the value of the donated stock.

PLANS FOR FUTURE PERIODS

Maintaining and improving the public's access to the Charity's land for use as pleasure gardens will continue to be the main focus in the years ahead.

PUBLIC BENEFIT

The Trustee have taken the Charity Commission's guidance on public benefit into consideration. The Lower Central Gardens are provided for the enjoyment of the public without charge and there continues to be investment in and improvements to the main pleasure garden infrastructure. Furthermore, a series of events have been held that were designed to have broad appeal to the public - both local and visitors alike.

PRINCIPAL RISKS AND UNCERTAINTIES

The Trustee has considered the risks that the charity is exposed to but do not deem there to be any significant risk arising from its activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The accounts recognise the treatment of the Charity as a separate entity with its own transactions distinct from those of BCP Council.

The Trust was created in 1873 under an Indenture between BCP Council's predecessor body the Bournemouth Commissioners and Sir George Eliot Meyrick Tapps Gervis. The day to day control and management of the Lower Central Gardens and hence the charity, was varied by s.29 Bournemouth Borough Council Act 1985. This vested in the Council the general power to use, control and manage the Lower Central Gardens. BCP Council manages the Charity in its role as trustee. Recommendations from the Council Cabinet on Charity issues are referred to full meetings of the Council acting as trustee for appropriate decisions.

Page 3

Lower Central Gardens Bournemouth Trustees Annual Report

There is a separate Charity Board. The composition and remit of the board has been made consistent with the requirements identified in the Maidment tribunal case that addressed a similar open space known as Dartford Central Park. The board of the Trustee meets periodically and receives reports from operational staff and determines strategy and policy for the Charity. Operational decisions on day to day management of the Charity are the responsibility of the Environment Service Director and Service Managers. Charity related items are clearly separated and identified in all reports and papers. A clear distinction is drawn between the Council acting in its role as local authority and in its role of trustee of the Lower Central Gardens Trust. The trustee has considered the risks that the charity is exposed to but do not deem there to be any significant risk arising from its activities. The Charity's main relationship is with BCP Council who delivers all maintenance and management services to the Charity. The Council also operates a plant nursery in King’s Park, which supplies flowers to the Lower Central Gardens Trust at commercial rates.

The trustee recruitment process is carried out by existing trustees on behalf of Members of the Trust. The trustee vacancy is advertised in the local media and interested parties are then provided with: a. Briefing Note b. Application Form c. Draft Scheme of Management d. Master Plan drawing e. Lower Gardens summary. The applicants are then interviewed and appointed using the Charity Commission Operational Guidance, Trustee Act 2000, OG 86 B4 ‘Power to employ nominees and custodians’. On the appointment the trustees are provided with a copy of the Charity Scheme for the new Trust together with the rules for conflicts of interest.

There are no formal policies or procedures adopted for the induction and training of trustees.

The law applicable to charities requires the charity trustee to prepare financial statements 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 trustee is required to:

The trustee is responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustee is also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Lower Central Gardens Bournemouth Trustees Annual Report

Statement of disclosure of information to auditor

So far as the trustees are aware, there is no relevant audit information of which the company's auditors are unaware and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant information and to establish that the company's auditors are aware of that information.

Signed

BCP Council Trustee 29 January 2024

Page 5

Lower Central Gardens Bournemouth Audit Report Unqualified

Independent Auditor's Report to the Trustee of Lower Central Gardens Bournemouth

Opinion

We have audited the accounts of Lower Central Gardens Bournemouth (the 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the Notes to the Accounts, 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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the accounts:

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 accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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 accounts, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the accounts 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 group and parent charity's ability to continue as a going concern for a period of at least 12 months from when the accounts 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 other information comprises the information included in the annual report, other than the accounts and our auditor’s report thereon. The trustee is responsible for the other information.

Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 there is a material misstatement in the accounts or a material misstatement of the other information. 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.

Page 6

Lower Central Gardens Bournemouth Audit Report Unqualified

We have nothing to report in this regard.

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 requires us to report to you if, in our opinion:

Responsibilities of trustee

As explained more fully in the trustee's responsibilities statement found in the trustee's report, the trustee is responsible for the preparation of accounts which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustee is 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 trustee intends 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 accounts

We have been appointed under the Charities Act 2011, s. 145 and report in accordance with the regulations made under the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the accounts 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 accounts.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

Page 7

Lower Central Gardens Bournemouth Audit Report Unqualified

Use of this report

This report is made solely to the charity's trustees, as a body, in accordance 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 auditors' 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.

Hixsons, Accountants and Statutory Auditors

24 Cecil Avenue Bournemouth BH8 9EJ 29 January 2024

Hixsons is eligible for appointment as auditor in terms of the Companies Act 2006, s.1212.

Page 8

Lower Central Gardens Bournemouth Statement of Financial Activities

for the year ended 31 March 2023

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Other trading activities
6
Total
Expenditure on:
Raising funds
7
Charitable activities
8
Other
10
Total
Net gains on investments
Net expenditure
11
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds		 Restricted
funds		 Endowment
funds		 Total funds Total funds
2023 2023 2023 2023 2022
£ £ £ £ £
336,064 205,291 - 541,355 460,672
602,863 - - 602,863 531,083
207,424 - - 207,424 247,188
1,146,351 205,291 - 1,351,642 1,238,943
191,444 - - 191,444 206,963
948,309 205,291 - 1,153,600 1,031,526
- 8,152 625,932 634,084 423,644
1,139,753 213,443 625,932 1,979,128 1,662,133
- - - - -
6,598 (8,152) (625,932) (627,486) (423,190)
- - - - -
6,598 (8,152) (625,932) (627,486) (423,190)
- 169,302 1,327,932 1,497,234 4,296,856
6,598 161,150 702,000 869,748 3,873,666
2,961 2,568,450 18,510,000 21,081,411 17,207,745
9,559 2,729,600 19,212,000 21,951,159 21,081,411

Page 9

Lower Central Gardens Bournemouth Balance Sheet

at 31 March 2023

Charity No. 299739
Fixed assets
Tangible assets
13
Current assets
Stocks
14
Cash held on behalf of trust
Creditors:Amount falling due within one year
15
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Restricted funds
16
Endowment funds
Restricted income funds
Unrestricted funds
16
General funds
Total funds		 2023
£
21,941,600
21,941,600
9,559
17,919
27,478
(17,919)
9,559
21,951,159
21,951,159
21,951,159
19,212,000
2,729,600
21,941,600
9,559
9,559
21,951,159		 2022
£
21,078,450
21,078,450
2,961
13,894
16,855
(13,894)
2,961
21,081,411
21,081,411
21,081,411
18,510,000
2,568,450
21,078,450
2,961
2,961
21,081,411

Approved by the trustees on 29 January 2024

And signed on their behalf by:

BCP Council Trustee 29 January 2024

Page 10

Lower Central Gardens Bournemouth Statement of Cash flows

for the year ended 31 March 2023

Cash flows from operating activities
Net income per Statement of Financial Activities
Adjustments for:
Depreciation of property, plant and equipment
Other gains/losses
Increase in stocks
Increase in trade and other payables
Net cash provided by operating activities
Net cash from investing activities
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2023
£
869,748
634,084
(1,497,234)
(6,598)
4,025
4,025
-
-
4,025
13,894
17,919		 2022
£
3,873,666
423,644
-
(454)
13,894
4,310,750
-
-
4,310,750
-
4,310,750
Components of cash and cash equivalents
Cash held on behalf of trust 17,919 13,894
17,919 13,894

Page 11

Lower Central Gardens Bournemouth Notes to the Accounts

for the year ended 31 March 2023

Basis of preparation

The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Lower Central Gardens Bournemouth's corporate trustee includes the charity in its consolidated financial statements. The consolidated financial statements are prepared under the International Financial Reporting Standards and are available to the public at: https://www.bcpcouncil.gov.uk/About-the-council/Budgets-and-finance/Annual-accounts.aspx. In these financial statements the Lower Central Gardens Bournemouth is considered to be a qualifying entity (for the purpose of this FRS) and has applied exemptions available under FRS 102 in respect of the requirement to present a cashflow statement. Having given regard to Public Benefit Entity guidance the corporate trustee considers the Lower Central Gardens Bournemouth to be a Public Benefit Entity.

Going Concern

Historically the Council, in its role as local authority and corporate trustee, has provided donated services each year sufficient for the charity to achieve breakeven and meet any liabilities as they fall due. This is currently the policy that is expected to continue and so the accounts have been prepared on a going concern basis. The trustee considers that there are no material uncertainties about the Charity's ability to continue as a going concern.

As of 1st April 2019 the Council became part of a new authority Bournemouth, Christchurch & Poole Council (BCP) and the policy of donation has passed to the new authority. This is enshrined in the following two UK Statutory Instruments: 1) 2018 No. 648 The Bournemouth, Dorset and Poole (Structural Changes) Order 2018 & 2) 2008 No. 2176 The Local Government (Structural Changes)(Transfer of Functions, Property, Rights and Liabilities) Regulations 2008.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Page 12

Lower Central Gardens Bournemouth Notes to the Accounts

Income

Expenditure

Taxation

The charity is exempt from tax on its charitable activities.

Page 13

Lower Central Gardens Bournemouth Notes to the Accounts

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

useful life:
Pavilion 2% Straight line
Gardens 4 - 10% Straight line

Pavilion asset (above) is Pavilion and Lower Gardens bandstand. Gardens asset (above) is Lower Gardens minor buildings, certain improvements to main buildings.

Assets are assessed at each year-end (in 2023 this was by the external company Wilks, Head & Eve whose employees are accredited by the Royal Institute of Chartered Surveyors (RICS) as to whether there is any indication that they may be impaired. Where indications exist and any possible differences are estimated to be material, the recoverable amount of the asset is estimated and any shortfall is recognised as an impairment loss.

Impairment losses are accounted for in the following ways: 1) where there is a balance of revaluation gains for the asset in the Restricted Income fund the carrying amount of the asset is written down against that balance, up to the amount of the accumulated gains; 2) where there is no balance in the Restricted Income fund or an insufficient balance the carrying amount of the asset is written down against the expenditure in the Statement of Financial Activities (SoFA).

Where an impairment loss is subsequently reversed the reversal is credited to the SoFA up to the amount of the original loss, adjusted for depreciation that would have been charged if the loss had not been recognised.

The assets of the Charity are treated as comprising the freehold interest (based on the Council as trustee's right to manage) in the land between Bournemouth Square and the seafront laid out as formal public pleasure gardens. The area is approximately six hectares. Furthermore it comprises the Charity's ownership of the Pavilion. Assets included in the Balance Sheet are re-valued annually. The assets of the Charity are: 1) Pavilion - at the end of 2009-10 the land swap took place giving the Charity full ownership of the building. The value of the asset in the Balance Sheet is based on the full amount of the depreciated replacement cost and is subject to a full depreciation charge. The Pavilion is leased to BCP Council who under the agreement have sub-leased it to BH Live. Both leases are for £nil consideration. 2) Lower Central Gardens - a full share of the existing use valuation based on the concessions. The land now occupied by concessions is carried at nil value. The trustee recognises that there is an intrinsic value to the rest of the gardens but as there is no likelihood of a full or major disposal and because of the costs and difficulty in obtaining a valuation this is carried at £nil.

Freehold investment property

Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other 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.

Page 14

Lower Central Gardens Bournemouth Notes to the Accounts

Cash and cash equivalents

Cash at bank is equal and opposite to the sum of the creditors. The charity does not have its own bank account, all receipts are paid into and all payments paid from the BCP Council's main bank account.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2
Statement of Financial Activities - prior year
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Gains on revaluation of fixed assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
2022
£
366,333
531,082
247,189
1,144,604
206,963
937,187
-
1,144,150
454
454
-
454
2,507
2,961		 Restricted
funds
2022
£
94,339
-
-
94,339
-
94,339
20,391
114,730
(20,391)
(20,391)
218,838
198,447
2,370,003
2,568,450		 Endowment
funds
2022
£
-
-
-
-
-
-
403,253
403,253
(403,253)
(403,253)
4,078,018
3,674,765
14,835,235
18,510,000		 Total funds
2022
£
460,672
531,082
247,189
1,238,943
206,963
1,031,526
423,644
1,662,133
(423,190)
(423,190)
4,296,856
3,873,666
17,207,745
21,081,411

Page 15

Lower Central Gardens Bournemouth

Notes to the Accounts

3 Income from donations and legacies

Donated services received
from BCP Council
Donated services received
from BCP Council
4
Income from charitable activities
Commercial operations,
activities and events (see
Note 5)
5
Income from charitable activities (detail)
Refreshments & concessions
Ice rink costs reimbursement
Arts by the Sea
Christmas Tree Wonderland
a
6
Income from other trading activities
Mini-golf
Art exhibition		 Unrestricted
£
336,064
-
336,064		 Restricted
£
-
205,291
205,291
Unrestricted
£
602,863
602,863
Unrestricted
£
290,511
82,540
23,527
206,285
1
602,863
Unrestricted
£
201,414
6,010
207,424		 Total
2023
£
336,064
205,291
541,355
Total
2023
£
602,863
602,863
Total
2023
£
290,511
82,540
23,527
206,285
602,863
Total
2023
£
201,414
6,010
207,424		 Total
2022
£
366,333
94,339
460,672
Total
2022
£
531,083
531,083
Total
2022
£
270,446
23,142
10,754
226,740
531,082
Total
2022
£
242,965
4,223
247,188

Page 16

Lower Central Gardens Bournemouth Notes to the Accounts

7 Expenditure on raising funds

7
Expenditure on raising funds
Fundraising trading costs
Commercial operations
8
Expenditure on charitable activities
Expenditure on charitable
activities
Maintenance of gardens and
public buildings (see Note 9)
Activities and events (see
Note 9)
Governance costs
Audit fees		 Unrestricted
£
400,718
540,091
7,500
948,309		 Unrestricted
£
191,444
191,444
Restricted
£
205,291
-
-
205,291		 Total
2023
£
191,444
191,444
Total
2023
£
606,009
540,091
7,500
1,153,600		 Total
2022
£
206,963
206,963
Total
2022
£
455,718
569,308
6,500
1,031,526

Page 17

Lower Central Gardens Bournemouth Notes to the Accounts

9
Expenditure on charitable activities
(detail)
Maintenance of gardens and public
buildings
Direct costs - maintenance and repairs
Maintenance team
Public conveniences
Asset maintenance
Activities and events
Art Exhibition
Bandstand
Arts by the Sea
Christmas Tree Wonderland
Festival Coast Live
Ice Rink
Events team
Mini-golf
10 Other expenditure
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
11 Net expenditure before transfers
This is stated after charging:
Depreciation of owned fixed assets		 Unrestricted
£
33,556
349,868
17,294
-
400,718
8,395
3,934
57,970
310,514
52,011
59,746
14,727
32,794
540,091
Restricted
£
8,152
8,152		 Restricted
£
-
-
-
205,291
205,291
-
-
-
-
-
-
-
-
-
Endowment
£
625,932
625,932
2023
£
634,084		 Total
2022
£
33,556
349,868
17,294
205,291
606,009
8,395
3,934
57,970
310,514
52,011
59,746
14,727
32,794
540,091
Total
2023
£
634,084
634,084		 Total
2021
£
13,144
336,113
12,122
94,339
455,718
3,145
2,078
23,107
360,800
93,845
25,130
20,398
40,805
569,308
Total
2022
£
423,644
423,644
2022
£
423,644

Page 18

Lower Central Gardens Bournemouth Notes to the Accounts

12 Staff costs

No employee received emoluments in excess of £60,000.

There were no direct staff costs in the year and that all staff were supplied by BCP Council. The maintenance staff are employed by the Council rather than directly by the Charity and only the proportion of cost relating to the Lower Gardens is recharged. This arrangement is in place as this is considered the most cost effective way for maintenance of the Lower Gardens to be carried out. The actual cost is based on the timesheets records and estimates where the timesheets are not available.

13 Tangible fixed assets

13 Tangible fixed assets
Cost or revaluation
At 1 April 2022
Revaluation
At 31 March 2023
Depreciation and
impairment
Depreciation charge for the
year
Revaluation
At 31 March 2023
Net book values
At 31 March 2023
At 31 March 2022
14 Stocks
Goods for resale and consumables
Carrying value analysed by activities
Commercial operations
15 Creditors:
amounts falling due within one year
Trade creditors		 Pavilion Gardens
£
2,568,450
161,150
2,729,600
8,152
(8,152)
-
2,729,600
2,568,450		 Total
£
21,078,450
863,150
£
18,510,000
702,000
19,212,000
625,932
(625,932)
-
19,212,000
18,510,000
2023
£
9,559
9,559
2023
£
9,559
9,559
2023
£
17,919
17,919
21,941,600
634,084
(634,084)
-
21,941,600
21,078,450
2022
£
2,961
2,961
2022
£
2,961
2,961
2022
£
13,894
13,894

Page 19

Lower Central Gardens Bournemouth Notes to the Accounts

16 Movement in funds

Restricted funds:
Endowment funds:
Pavilion
Total
Restricted income funds:
Gardens
Total
Unrestricted funds:
General funds
Total funds		 At 1 April
2022
18,510,000
18,510,000
2,568,450
2,568,450
2,961		 Incoming
resources
(including
other
gains/losses)
£
1,327,932
1,327,932
374,593
374,593
1,146,351		 Resources
expended
£
(625,932)
(625,932)
(213,443)
(213,443)
(1,139,753)		 At 31
March
2023
£
19,212,000
19,212,000
2,729,600
2,729,600
9,559
21,081,411 2,848,876 (1,979,128)
21,951,159

Purposes and restrictions in relation to the funds:

Endowment funds: Pavilion The Pavilion became fully owned by the Charity in 2009-10 and was reflected that year in the accounts as a donated asset and the endowment fund. This reserve is in the nature of an endowment i.e. it may not be spent as income nor disposed of.

Restricted funds: Gardens The full amount of total valuations and the cost of any subsequent routine fixed asset additions is credited to the restricted income fund as these assets can only be used for specific purposes. Any revaluations or disposals of assets within these sums is also adjusted through the reserve.

17 Analysis of net assets between funds

Fixed assets
Net current assets		 Unrestricted
funds
£
-
9,559
9,559		 Restricted
funds
£
21,941,600
-
21,941,600		 Total
£
21,941,600
9,559
21,951,159

Page 20

Lower Central Gardens Bournemouth Notes to the Accounts

18 Reconciliation of net debt

18 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2022
£		 Cash flows
£		 At 31
March
2023
£
13,894 4,025 17,919
13,894
13,894		 4,025
4,025		 17,919
17,919
19 Related party disclosures
Transactions with related parties
Name of related party
BCP Council in its role as local authority
Description of relationship
between the parties
Trustee
Donations received from related party
Additional Information on Related Parties		 2023
£
541,355		 2022
£
460,671

The Lower Central Gardens Bournemouth's corporate trustee includes the charity in its consolidated financial statements. The consolidated financial statements are prepared under International Financial Reporting Standards and are available to the public at

https://www.bcpcouncil.gov.uk/documents/about-the-council/Draft-Statement-of-Accounts-2022-23.pd f. Having given regard to Public Benefit Entity guidance the corporate trustee considers the Lower Central Gardens Bournemouth to be a Public Benefit Entity.

The Council acting in its role as trustee of the charitable trust nominates certain Members to act as members of the Trust Board. The Trust Board has a Constitution setting out administration and management arrangements of the trust. The charity trustee was not paid or reimbursed expenses during the year and did not receive any emolument or payment for professional or other services. There were no transactions involving the trustee and related parties and there were no ex-gratia payments. The Council has historically subsidised the annual deficits of the Charity.

Page 21

Lower Central Gardens Bournemouth Detailed Statement of Financial Activities

for the year ended 31 March 2023

Income and endowments from:
Donations and legacies
Donated services received from
BCP Council
Donated services received from
BCP Council
Charitable activities
Commercial operations, activities
and events (see Note 5)
Other trading activities
Mini-golf
Art exhibition
Total income and endowments
Expenditure on:
Costs of other trading activities
Commercial operations
Total of expenditure on raising
funds
Charitable activities
Maintenance of gardens and
public buildings (see Note 9)
Activities and events (see Note 9)
Governance costs
Audit fees
Total of expenditure on charitable
activities
General administrative costs,
including depreciation and
amortisation
Depreciation of Pavilion
Depreciation of Gardens		 Unrestricted
funds
2023
£
336,064
-
336,064
602,863
602,863
201,414
6,010
207,424
1,146,351
191,444
191,444
191,444
400,718
540,091
940,809
7,500
7,500
948,309
-
-
-		 Restricted
funds
2023
£
-
205,291
205,291
-
-
-
-
-
205,291
-
-
-
205,291
-
205,291
-
-
205,291
-
8,152
8,152		 Endowment
funds
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
625,932
-
625,932		 Total funds
2023
£
336,064
205,291
541,355
602,863
602,863
201,414
6,010
207,424
1,351,642
191,444
191,444
191,444
606,009
540,091
1,146,100
7,500
7,500
1,153,600
625,932
8,152
634,084		 Total funds
2022
£
366,333
94,339
460,672
531,083
531,083
242,965
4,223
247,188
1,238,943
206,963
206,963
206,963
455,718
569,308
1,025,026
6,500
6,500
1,031,526
403,253
20,391
423,644

Page 22

Lower Central Gardens Bournemouth Detailed Statement of Financial Activities

Total of expenditure of other costs
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 -
1,139,753
-
6,598
6,598
-
6,598
2,961
9,559		 8,152
213,443
-
(8,152)
(8,152)
169,302
161,150
2,568,450
2,729,600		 625,932
625,932
-
(625,932)
(625,932)
1,327,932
702,000
18,510,000
19,212,000		 634,084
1,979,128
-
(627,486)
(627,486)
1,497,234
869,748
21,081,411
21,951,159		 423,644
1,662,133
-
(423,190)
(423,190)
4,296,856
3,873,666
17,207,745
21,081,411

Page 23