Lower Central Gardens Bournemouth Charlty No. 299739 Trustee's Report and Audfted Accounts 31 Marth ZOZ5
Lower Central Gardens Bournemwlh Contents Paiels} 2to4 Trustee's Annual Report Auditor's Report Statement of Finan¢ial Attivities 5t08 BalancÈ Sheet io ststement of Cash Ilows li Notes to the Accounts 12to20 Detsiled Ststement of Flnandal Actlvltles 21to22 Page I
Lower Central Gardens Bournemouth Trustees Annual Report The trustee presents their report wlth the audlted financial statements of the charlty for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DEfAILS Charlty No. 299739 Prlndpal Office Civic Centre Bourne Avenue Bourrnemouth Dorset 8H2 6DY Trust•• The followlng trustee served durin8 the year.. BCP Councll Trust••s holdln8tltl• to charlty property 8CP Councll K•y Man•8•mant Personnel Councillor Matthew Gillett- Chalr Counclllor Bernadette Nanovo Counclllor Stephen Bartlett. re51gned 7 May 2024 Mr Roger Boon - reslgned 18 December 2024 Chlef Executlve Offlcer- Kate Lan8down Audltor Counclllor Jamie Martin Vlce Chalr Counclllor Lawrence Wllllams Counclllor Andy H4dley- reslgned 10 Oecernber 2024 Hixsons 24 Cecll Avenue Bournemouth BH8 9EJ 08JEcfivES AND ACllVITIES The object of the charltyls the provlslon of open space for the recreatlon and enjoyment of the publSc. The Gardens are Llsted Grade11 in the Hi5torlc England 'Règister of Parks and Gardens" The Charlty Is subSect to several strategies th3t design the way that objectlve5 are being fulfilled. The maln document is Lower, Central & Upper Gardens 5-year Mana8ernent Plan which was drafted in conjunttion with.. Bournemouth 2026 Community Strategy. Green Space Strate8y, Playground Strategy. Nature Con5etvatlon Strategv. The Management Plan and Lower Gardens Masterplan are provldlng detalls of proposals to improve the vlsltors, experience in the Gardens. The examples of these are.. to revièw plantlng and phase replacement wilh new water tolerant plantin8, to refinè and improve Chrlstmas events in Lower Gaidens to ensure smooth runnln& 4-year plan to renovate all the 5hrubs/tree boarders alon8 WestoveT Road, to develop Westover Gardens as an area for the arts and other community events. Page 2
Lower Central Gardens Bournemouth Trustees Annual Report ACHIEVEMETrtrs AND PERFORMANCE The event hlghlights wère the Alr Festival IAu8USt 20241. the Arts ByThe Sea Festival and the Knife Crime Awareness Event (both September 20241. the Boumemouth Marathon (October 20241 and winter ice rlnk and Christmas Tree Wonderland (Novembèr 2024- january 20251. FINANaAL REVIEW H15torically the Council, in its role as local authorlty and corporate trustee, has provided donated setvlces each year sufficient for the charity to achieve breakeven and meet any liabilities as they fall due. Thi5 IS currently the policy that is expected to continue and so the account5 have been prepared on a goln8 concern asis. The trustee considers that there are no matÈrial uncertainties about the charity's ability to continue a5 going concern. The unre5trlcted fund of £2,027 represents the value of the donated stock from 8CP Council. The restricted incorne fund of £1,648,643 represents change in the fixed assets value and is not used for dlstributlon. The endowment fund of £2S,874,404 15 held on trust to be retalned lor the benef5t of the charity as a capital fund. The trustee must permanently maintain the whole ol the fund. The fund conslsts of assets that are used for the purposes of the charity and cannot be spent a5 if it were income. The net revenue expenditure supports the obleciive of the Trust. PLANS FOR FUTURE PERIODS Maintainin8 and improvlng the pvbllc's access to the Charity's land for use as pleasure 8ardens wlll continue to be the maln focus In the year5 ahead. STRucfuRE, GOVERNANCE AND MANAGEMENT The accounts reco8nlse the treatrnent of the Charity as a separate entlty with Its own transartions distinct from those of BCP Council. The Trust was created In 1873 under an Indenture between BCP Council's predecessor body the Bournemouth Commlssloners and Slr George Ellot Meyrick Tapps Gervls. The day to day control and management of the Lower Central Gardens and hence the charlty, was varled by 5.29 Bournernouth 8orough oyncil Act 1985. Thi5 vested in the Councll the general power to use, control and manage the Lower Central Gardens. BCP Council manages the Charlty in Its Tole as trustee. Recornmendatlons from the Countll Cablnet on Charlty Issues are refèrred to full rneetlngs of the Councll actlng as trustee for appropriate decisions. The trustee recruitment proce55 is carried out by exlsting trustees on behalf of Members of the Trust. The trustee vacancy is advertised In the local medla and interèsted parties are then provided with..a. Briefin8 Note b. Applicatlon Form c. Oraft scheme of Management d. Master Plan drawing e. Lowèr Garden5 summary. The appllcants arÈ then Intervlewed and appolnted usln8 the Charlty Comml55ion Operatlonal Guldance, Trustee Act 2000, OG 86 B4'Power to employ nominee5 and custodlans,. On the appointment the trustees are provided wlth a copy ol ihe Charity scheme for the new Trust together with the rules for confllcts of Snterest. There are Mo formal pollcle5 or procedures adopted for the induction and training of trustees, The law appllcable to charities requlre5 the charity trustee to prepare financial statements whlch give a true and fair view of the state of affalrs of the charity and of the Incoming resources and application of resources of the charity lor that period. In preparln8 these flnancial statements, the trustee Is requlred to.. selert 5Ultable accountlng pollcies and then apply them consistently; observe the methods and principles in the Charities SORP., make Judgements and estimates that are reasonable and prudent,. Page 3
Lower Central Gardens 8ournemouth Trustee5 Annual Report State whether applicable UK accountin8 Standards have been followed, subjettto any material departures disclosed and explained In the finandal statementS.' prepare the flnanclal statements on the going concern basis unles5 It is inappropriate to presume that the charity will continue in bu5ines5. The trustee15 responsible for keeplng proper accounting records that disclose with aSOnable accuracy at any time the financial position of the charity and to enable them to ensure that the financial staternents Comply wlth the Charitles Att 2011, the applicable Charlties (Accounts and fleportsl 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 preventSon and detection of fraud and other irregularities. Statement of d15closur# of lrtforniatlon *0 audltor So far as the trustees are aware, there Is no relevant audlt Information of which the company's audltors 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 hlmself or herself aware of any relevant information and to establlsh that the company's audltor5 are aware of that Informatlon. Si8ned 8CP Councll Trustee 26 lanuafv 2026 Page 4
Lower Central Gardens Bournem( AudSt Report Unquallfled Independent Audito$ Report to the Trustee ol Lower Central Gardens Boumemouth OpSnlon We have audlted the accounts of Lower Central Gardens Bournemouth (the 'charity'l for the year ended 31 March 2025 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 signiflcant accounting policles. The financial reporting framework that has been applied in their preparatlon Is applicable law and United Kingdom Actountin6 Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republi of Ireland, Iunited Kingdom Generally Accepted Accountin8 Practicel. In our opinion the attounts.. give a true and fair view of the state of the charlty'5 affair5 a5 at 31 March 2025,and of its profitlloss for the year then ended,. have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accounting Practice,. and have been prepared In accordancè wlth the requSrements of the Charltles Act 2011. Bas15 for oplnlon We conducted our audll in accordance wlth Internatlonal Standards on Audltlng IUKI11SA5 IUKI and applicable law. Our responsibilitie5 under those standards are further described in the Audltorfs iesponsibllities for the audit of the accounts sectlon of ouc report. We are Sndependent of the charity in accordance wlth the ethlcal requirement5 that are relevant to our audit of the accounts In the UK, includin8 the FRC'S Ethical Stsndard and we have fullllled our other ethlcal respgn5ibllities In accordance wlth these requlrement5. We belleve that the audlt evldence we have obtalned Is 5ufflclent and approprlate to provlde a b3515 for our opinion. Con¢lu51ons relatlns to iolni conc•rn In auditin8 the accounts, we have Concluded that the trustees, use of the goSng concern basls of ac¢ountln8 in the preparation of the accounts 15 appropriate. Based on the Work wè have performed, we have not Identlfled any materlal uncertalntles relating to events or conditions that, individually or collectlvely, may cast significant doubt on the group and parent charity's ablllty to contSnue as a going concern for a perlod of at least 12 months from when the accounts are authorlsed for issue. Our responsibillties and the responslbi1Stle5 of the trustees wlth respect to 80in8 concern are descrSbed Sn the relevant sections of this report. Other Infomiatlon The other information cornprlses the Informatlon Included In the annual report, other than the ac¢ounts and our audltorfs report thereon. The trustee is responslble for the other 5nformatlon. Our oplnSon on the accounts does noi Cover the other Snformatlon and we do not express any lorm of assurance conclusion thereon. In connection with our audlt of the accounts, our re5ponsibllity is to read the other Information and, In doln8 so, consider whether the other information is materialty incon55stent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially mi5Stated. If we identify such materlal Inconsi5tencle5 or apparent materlal mlsstatements, we are required to determine whether there is a material misstatement In the accounts or a matÈrial misstatement of the other Information. If, based on the work we have performed. we conclude that there is a materlal mlsstatÈmÈnt of this other 1nformation.we are required to report that fact. Page 5
Lower Central Gardens Bournemouth Audit Report Unquallfled We have nothing to report In thls regard. Matters on which we arè required to report by excèptlon We have nothing to report in respert of the following matters In relatlon to which the Charities IAccounts and Reports) Re8ulatlons 2008 requires u5 to report to you if, In our oplnion.. the information given in the accounts is inconsistent in any rnaterial respect with the trustee'5 report,. or suffltient actounting records have not been kept,. or the accounts are nol In agreement with the accounting records,. or we have not received all the informatlon and explanatlons we requSre for our audit. Responsltsllltle5 of trustee As explained more fully in the trustee's responslbllltlÈs statement found In the trustee's report, thp Irustee15 responsible for the preparation of accounts which 8ive 3 true and fair view, and for such internal control as the trustees determine Is necessary to enable the preparation of accounts that are Iree from materlal misstatement, whether due to fraud or error. In preparing the accounts, the trustee 15 responsible for a5sesslng the charity's ability to continue as a golng concern. dlsclosing, as appllcable, matters related to golng concern and uslng the goln8 concern ba55s 01 ateountlng unless the trustee Intends to Ilquldate the charlty or to cease operation5. or have no reali5tlc alternatlve but to do 50, Audltor's r•sponslbllltle$ forthe audlt ol the accounts We have been appolnted under the Charltles Act 2011, 5. 144 and report in at¢ordance wlth the regulatlons made under the Act and rèlevant règulations made or havlng effect thereunder. Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free fM material mlsstatement, whether due to fraud or error, and to Issue an audltorfs report that Includes our oplnlon. Reasonable assurance is a hlgh level of assurance, tsut Is not a guarantee that an audlt conducted In accordance wbth ISA5 IUKI w511 always detect a materlal mSsstatement when it exists. Mlsstatements can arlse from fraud or error and are conslderèd materlal if. Indlvidually or Sn the 38gre8ate, they could reasonably be expected to Inlluence the economic decislons of u5er5 taken on the basis of these accounts. The extent to whlch our procedure5 are capable of detertin8 irregularltles, Includlng fraud 15 detailed below: Page 6
Lower Central Garden$ 8oumemouth Audlt Rèport Un4uallfled A5 part of designing our audit, we determined materiality and assessed the risks of material mi55taternent in the financial statements. Includlng how fraud may occur by enquiring of management of its own consideratlon of fraud. In particular, we looked at where management made sublective judgements. for exarnple in respert of significant accounting estlmates that Involved making assumptions and considering future events that are inherently untertain. We also considered potential financial or other pressures. opportunity and motlvations for fraud. As part of thSs dlscusslon we identified the internal controls established to mitigatè risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testlng of rnanual lourna15 and key estimates and judgements made bv management. We galned an understandSn8 of the legal and regulatory framev40rk applicable to the charity and the sector in which it operates. drawing on our sector experience, and considered the rlsk of acts by the Charity that were contrary to these laws and regulations, including fraud. We focused on law5 and re8ulations that could glve rlse to a material rri55taternent in the financlal 5tatement5, including, but not limited to, the Charities Act 2011 and UK tax le8islation. We made enquirles of management wlth rpgards to compliance with the above laws and regulatSons and corroborated any necessary evlden¢e to relevant informatlon, lor example, mlnutes of the tru5tees' meetin85 and correspondence between the CharSty and Its 5011cltors. Our test5 Included a8reeln8 the fSnanclal statements dlsclosures to underlyin8 SUPPOrting documentstion and enquirie5 Wlth management, Identlfyina and te5tln8 journal entries, Sn partlcular any journal entrles p05ted wlth unusual account combinations, reviewing of deferred income and accrued provlslons. We dld not Ident5fy any key audit matters relating to iNegularitles, in¢ludlng fraud. As in all of our audlts, we also addressed the rlsk of management override of Internal controls includin8 testin8 journals and evaluatlon whether there was evidence of blas by the trustees that represented a risk of materlal mlsstatement due to fraud. Our audit proeedures were de55gned to respond to rlsks of materlal mlsstatement in the flnanclal statements, recognisin8 that the risk of not detecting a materlal missiatement due to fraud is higher than the rlsk of not detectin8 one result4ng from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are Inherent limltatlons in the audit procedure5 performed and the further removed non-compllance with law5 and regulatlDn51s from the events and transactions reflected in the flnanclal statements, the le55 Ilkely we are to become aware of it. A further description of our responsibS1ities for the audit of the account5 is located on the Flnanclal Reportin8 Councll's website at www.frc.org.uklauditorsresponsibilities. This de5criptian form5 part of our auditor's report. Use of thls report This report is made solely to the charlty's trustees. as a body, in accordance Part 4 of the Charlties IAccount5 and Reportsl Regulatlons 201)8. Our audit work has been undertaken so that we mSght state to the charity'5 trustees those matters we are required to state to them In an audlttsrs, 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 wDrk, for this report, or for the opinions we have formed. Page 7
Lower Central Gardens Bournemouth Audlt Report Unqualffied Hixsons, Accountants and Statutory Audltors 24 Cecil Avenue Bournemouth BH8 9EJ 26 january 2026 Hlxsons is eligible for appolntment as audltor In terms of the Companles Act 2006, 5.1212. Pa8e 8
Lower Central Garde Bournemouth Slatement of Finandal Actlvltles for the year ended 31 March 2025 Unrestrlcted fvnds 2025 strlrted Endowment funds fund5 Totsl funds Totsl funds 2025 2025 2025 2024 Notes Income and endowments from: Donatlons and legacles Charitable activities Other trading actlvities 216,085 520,510 166,951 175,093 391,178 520,510 166,951 389,465 479,559 176,311 Total 903.546 175,093 1,078,639 1.045,335 Expenditure on: Raising funds Charltable a¢tfvitle5 Other 127,265 774,254 127.265 949,347 733,984 160,093 894,801 697,038 175,093 18.868 715,116 Total 9L)1,519 193,961 715,116 1,810,596 1.751,932 Net gaSns on Investments N•t •xpendltur• 2,027 118,8681 171S,1161 1731,9571 1706.5971 Transfer5 between funds Net exp•ndltur• b•for¢ other i•lns/llosse31 2,027 118,8681 1715,1161 1731,9571 1706,5971 other plns ind Ios5•S Other Galns 11,021.6891 11,040,557) 6,495,404 7,210,520 6,188,831 823,638 Net mt)vement In funds 2,027 5,456,874 117,041 Re¢on¢lllatlon ol funds: Total fvnds brou8ht forward 2.689,2LX) 19,379,000 22,068,200 21,951,159 Total funds carrled fon¥ard 2,027 1,648,643 25.874,404 27,525,074 22.068,200 Page 9
Lower Central Gafdéns Bournemouth Balan¢e Sheet at 31 March 2025 Charlty No. 299739 2025 2024 FIMed •55ets Tanglble assets 11 27,523.047 27.523.047 22,068,200 22,068,200 Current ass•ts Stocks Debtors 12 13 2,027 20.116 22.143 120.1161 2.027 36,9LXJ 36,900 136,9001 Credltors: Amount fallin8 due withln one year Net current assèts 14 Total assets less ¢uirent liabllltles 27,525,074 22,068,2 Net assets excludln8 pengion a55et or114blllty 27,525.074 22,068,2 Tot*1 net ¥55elS 17,525,074 22,068,2 The fund5 ofthe tharltv Restrlrted lunds Endowrnent funds Restrlcted Income fund5 Is 25,874,404 1,648,643 27,523,047 19,379,000 2,689.2LIJ 22,068,2(Xl Unre5trkted fvnd5 General funds 15 2.027 2,027 R•s•r¥•s 15 Tot•1 funds 27,525,074 22,068,200 Approved by the trustees on 26 January 2026 Arbd signed on thelr be>alf bv.. BCP Coun¢ll Trustee 26 January 2026 Pe 10
Lower Central Gardens Bournemotrth t•mènt of Q5h flows for the year ended 31 March 2025 2025 2024 Cash flows from operatSng a¢tltIeS Net Ina)m p•r Ststement of FlnancTal Artlvlties 5,4S6.874 117.041 Adlustments for Depreciation of property. plant and equipment Other Igalnslllosses Ilncreasel/Decrease in stocks Decreaselllncreasel ln trade and other receivables IDecreasellin¢rease in trade and other payables 733.984 16,188,831) 12,0271 16,784 116,7841 697,038 1823,6381 9.559 136,9001 18,981 N•t cash used In vpefatln8 actlvltles 117,9191 Net cash from In¥estlnR activities Net cash from flnandnl a¢¢lvltles Net decre•*e In cash and c•sh equlv•lents 117.9191 C•sh and cash equlvalents at the beglnnSng of the year 17,919 Cash and ¢•sh e4ulv•lents at the end of th• year Compon•nts ot cmh and cash •qulval•nts Cash and bank balances Page 11
Lowèr Central Gardens Bournemouth Notes to the Accounts lor the year ended 31 March 2025 l Attountlng pollcles Basi5 of preparation The financial staternents have been prepared in accordance with Statement of Recommended Practice.. Accountlng and Reporting by Charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland IFRS 1021 issued on 16 july 2014 and the Financial Reporting Standard applitable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Lower Central Gardens Bournemouth's corporate trustèe Includes the charity In Its consolidated ftnaneial statements. The consolidated financial statements are preparèd under the International FlnancSal Reportlng Standard5 and are available to the public at.. htt www.bc council. ov.uk About-the-cou Bud Ann l.accoun In these financial statements the Lower Central Gardens Bournèmouth Is considered to be a qualifying entlty (for the purpose of thls FRSI and has applied exemptions available under FRS 102 In respect of the requirement to present a cashflow statement. Having given re8ard to Publlc BenefSt Entity guldance the corporate trustee conslders the Lower Central Garden5 Bournemouth to be a Publlc Benefit Entity. Goin# Con¢em Historically the Council, in its role as local authorlty and corporate trustee, has provided donated seIce5 each year sufficient for the charity to achieve breakeven and meet any1Sabllltles as they fall due. Thi5 Is currently the pollcy that is expected to contSnue and 50 the accounts have been prepared on a golng oncèrn basls. The trustee conslders that there are no material uncertaintSes about the CharSty's ablllty to continue a5 a 8oln8 concern. As of 1st Aprll 2019 the Councll became part of a new aLrthorlty Bournemouth, Chrlstchurch & Poole Councll IBCPI and the policy of donation has passed to the new authority. This is enshrined In the following two UK Statutory Instruments.. 112018 No. 648 The 8ournemouth, Dorset and Poole (Structural Change51 Order 2018 & 212fK)B No. 2176 The Local Government (Structural Chan8esllTransfer of Funrtlon5, Property, RiBht5 and Llabllltiesl Re8ulatlon5 2CQ8, Chanie In b•sls ol a¢¢ountlni or to prevlous actounts There has been no chan8e to the accountln8 policies Ivaluailon rules and method of accountlngl since last year and no changes have been made to account5 for previous years. Fund accountlng Unreslried funds These are avallable for use at the discretion of the tru5tee5 in furtherance of the general objects of the charlty. These are unrestrlcted fund5 earmarked by the trustees for partlcular purposes. These are unrestrlcted fund5 whlch include a revaluatlon reserve representing the restatement of investment assets at their market values. These are available for use subject to restrlctlons imposed by the donor or throu6h term5 of an appeal. Desi8nated fund5 Revaluatlon funds Restricted funds Page 12
Lower Central Gardens Bourhemouth Notes to the Accounts Income Re¢ggnttion of income Income is Included in the Statement Of Financlal Activitles ISOFAI when the charity becomes entltled to. and virtually certsin to recelve, the income and the amount of the intome can be measured with sufficient reliabllitv. Income with related Where income has related expenditure the income and related expendlture 15 expenditure reported 8ross in the SOFA. Donations and legacies Voluntary income received by way of 8rants, donations and 8ifts is included In the the SOFA when receivable and only when the Charity has uncondition31 entitlement to the Income. Tax reclalm5 on Income from tax reclalms Is Included in the SOFA at the same time a5 the donatlons and glfts glftldon3tlon to whlch It relate5. Donated service5 These are only Included in Sncome Iwlth an equlvaltnt amount In expenditure) and facilities where the benefit to the Chaiity is reasonably quantifiable, measurable and materlal. Volunteer help The value of any volunteer help re¢eSved Is not included in the account5. Investment Income Thls Is Included In the accounts when receivable. Galns/llos5esl on Thi5 Includes any 8ain or loss resultSng from revalu5ng Investments to market value rèvaluation of fixed at the end of the year. assets Galnslllossesl on Investment assets This Include5 any 8aln or1055 on the sale of investments. Empendlture Recognltlon of expendlture Expendlture Is recognSsed on an accrvals ba$15. Expendlture 5ncludes any VAT which cannot be fully recovered, and Is reported as part of the expenditure to whlch It rÈlates. Expenditure on These comprise the costs assoclated with attracting voluntary Income, fundrai51n8 r3i5in8 funds trading costs and investment mana8ement Costs, Expendlture on Thesè tomprlse the ¢osts incurred by the Charlty in the delivery ol Its a¢tlvltles and charitable actSvltles Services in the furtherance of Its oblects, Includlng the making of grants and 8overnance costs. All grant exPendturÈ is accounted for on an actual pard basls pl(ts an accwal ftsr 8rants thot have been approved by the trustee5 at the end of the year but not yet pald. These Include those costs associated wlth meetlng the constltutlonal and statutory requirements of the Charlty, Includlng any audlt/lndependent examlnatbon fee5, costs Ilnked to the sirateglc management of ihe Charity, together with a share of other admlnistration cost5. These are Support costs not allocated to a partlcular activitv. Grants payable Governance costs Other expenditure Taxatlo The chailty is exempt from tax on its charitable activities. Page 13
Lower Central Gardens 8oum¢mouth Notes to the Accounts Tangible fixed assets and depre¢latlon Depreciation is provided at the following annual rates In order to write off each a55et ovèr Its estlmated useful Ilfe.. Pavilion 2% Straight line Gardens 4- 10% Straight line Pavilion asset labovel Is Pavilion and Lower Gardens bandstand. Garden5 asset labovel is Lower Gardens minor buildings, certaln improvements to main buildings. Assets are assessed at each year-end- in 2025 thls was by the external company Lambert smith Hampton wh05e employees are accredited by the Royal Institute of Chartered Surveyor5 IRICSI as to whether there 15 any indication that they may be impaired. Where indications exlst and any possible differences are estimated to be materlal. the recoverable amount of the asset15 e5tlmated and any shortfall 15 recognised as an Impairrnent lo55. Impalrment losses are accounted for In the followlng ways.. 11 where there Is a balance of revaluatlon galns for the asset In the Restrlcted Income fund the carryin8 amount of the asset is written down a8alnst that balance, up to the amount of the accumulated gains,. 21 where there Is no balance in the Restricted Income fund or an insufficient balance the carrylng amount of the asset IS Wrltten down agalnst the expenditure In the Statement of Financial Actlvltle5 ISOFAI. Where an Impairmènt loss Is subsequently reversed the reversal Is ¢redlted to the SOFA up to the amount of the orlglnal loss, adlusted for depreclatSon that would have been char8ed If thè loss had not been recognlsed. The assets of the Charity are treated a5 comprislns the freehold Interest Ibased on the Councll as trustee's rlght to manage) in the land between 8oumemouth Square arnd the seafront lald out as formal publlc pleasure gardens. The area Is approxlmately SSX hectare5. Furthermore It ¢omprlses the Charltv, ownershlp of the PavllSon. Assets included in the Balance Sheet are re-valued annually. The assets of the Charity are.. 11 Pavilion at the end of 2009-10 the land swap took place 8lvlng the Charity ftsll ownershlp 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 subjett to a full depreclatlon charge. The PavSllon Is leased to BCP Councll who undèr the agreement have sub-leased it to BH Llve. 80th leases are for £nll ¢onslderation. 21 Lower Central Gardens- a full share of the exlstlng use valuatlon based on the oncessions. The land now occupled by concesslons 15 ¢arrled at nil value. The trustee recognlses that therels 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 thls is carried at £nil. Freehold Investment property Investment propertles are measured Inltlally at C05t and subsequently at falr value at each balance sheet date and are not depreciated. All gains or losse5 are taken to the Statement of Financlal ActSvlties as they arlse. Stocks Sttsck is Included at the lower of cost or net realisable value. Oonated items of stock are reco8nised at fair value which 15 the amount the Charity would have been willin8 to pay for the item5 on the open market. Trade ond other debtors Trade and other dèbtors are recognised at the settlement arnount due after any trade discount offered. Prepayment5 are valued at the amount prepald net of any trade di5count5 due. Pa8e 14
Lower Central Garden5 Boumemouth Note5 to the A(nts CJsh and cash equlvalènts The charity does not have Its own bank account, all receipts are pald into and all payments paid from BCP Council'5 main bank accounts. Trade and other credltors Short term creditors are measured at the transactlon prlce. Other creditors and provisions are recognlsed where the charity has a present oblSgatlon rèsultlng from a past event that will probably result the transfer of funds to a third party and the amount due to settle the obligatlon can be measured or estimated reliably. Creditor5 and provisions are normally recogni5ed at their settlement amount after allowin8 for any trade discounts due. Re¢elpt of donated goods, fathl6ties and seNkes All donated goods, facilities and servi5 received are recogni5ed wlthin incoming resources and expenditure at an estimate ol the value to the charity. 2 Ststement of Flnanclal Actmtles. prloryear Unre5trirted funds R•strlrted Endowment funds fund5 Tot•1 funds 2024 2024 2024 2024 In¢ome and endowments from: Donations and legacies Charltable activltle5 Other tradlng actSvlties Total 226,196 479.559 176,311 163,269 389,465 479.559 176,311 882,066 163.269 1,045,335 Expendltur• on: Ra15Ing fund5 Charitable actlvltles 160,093 731,532 160,093 894,801 697,038 163,269 19.267 Other 677,771 Total 891,625 182,S36 677,771 1,751,932 Net Income 19,5591 119,2671 1677,7711 1706,5971 N•t Income beft>r* oth•r ialnsll1osI Otherlalns and losses: other Galns 19,5591 119,2671 1677,7711 1706,S971 121,1331 140,4001 844,771 823.638 Net movement In funds 19,5591 117,041 RKonclllatlon of funds: Total funds brought forward Total funds carrled fDrw•rd 9,559 2,729,600 19,212,OCKI 21.951,159 2,689,2rxs 19,379,000 22.068,200 Page IS
Lower Central Gardèns Bwrnemouth Notes lo the A¢¢ounts 3 Incorne from donation5 and legacEe5 Unre5trlrted Restyl¢ted Total Total 2025 2024 Donated services received from BCP Councll Donated Services received from 8CP Councll 216,085 216,085 226,196 175,093 175,093 163,269 216,085 175,093 391,178 389.465 4 Inme from charltablè actMtI85 UnrÈstrlct•d Total 2025 Total 2024 Commerclal operations, activities and events lsee below for detaill 520,510 520.510 479,559 520,510 520.510 479,559 Refreshments & conce55lon5 Knlfe Crlme Awareness + Small events Ice rink Income + costs reimbursement Arts by the Sea Christmas Tree Wonderland 295,869 5,420 46.219 39,844 133,158 520,510 295,869 5,420 46,219 39,844 133,158 520,510 285,643 49.323 16,377 128,216 479.559 S Income from other tradlni artlv5tles Unrestrlrted Totil 2025 Totsl 2024 Mlnl-golf Art exhlbltlon 162,304 4,647 166,951 162,304 4,647 166,951 167,043 9,268 176,311 6 Exp•ndtture on r*lsln8 funds Unr•5trl¢ted Total Total Z025 2024 Fundm151nq tradlnq costs Commercial operations 127,265 127.265 127,265 127,265 160,093 160.093 Page 16
Lower Central Gardens Bournemauth Notes to the Accounts 7 Expenditure on charltable actlvlQ1•5 Unrestrltted Restrlcted Totsl Total 2025 20Z4 Expenditure on chtirftoble ortlvities Maintenance of gardens and publlc bulldlngs Iseè below for detail) Activities and events (see below for detalll Governance costs 374,476 175,093 549.569 549,925 390,778 390.778 336,626 Audtt fees 9,OC(J 774,254 9.000 949.347 8.250 894,801 175,093 Unr•strlct•d R•strfrted Totsl 2025 Total 2024 Malntenance of gardens and publSc bulldln85 Direct costs- malntenance and repalrs Malntenance team Publlc conveniences Asset malntenance 26,030 343,477 4,969 26,030 343,477 4,969 17S,093 31,118 348,130 175,093 163,269 374,476 175,093 549,569 549,925 Adlyltles and events Art Exhibitlon Bandstand Arts by the Sea Chri5trna5 Tree Wonderland KnSfe Crlme Awareness Ice Rlnk 5,067 150 82,133 212,143 5,368 35,964 13,091 36,862 5,067 Iso 1,705 428 82,133 212,143 5,368 35,964 13,091 36,862 38,673 205,365 33,416 13,497 43,542 Events team Mini-8olf 390,778 390,778 336,626 8 Other expendttur• Restrl¢ted Endowment Totsl Totsl 2025 2024 Amortisation, depreciation, impairment. profitlloss on dlsposal of lixed a55ets 18,868 715,116 733,984 697,038 18,868 715,116 733,984 697,038 Page 17
Lower Central Gardèns Bournemouth Note5 to the Accounts 9 Net expenditur• b•fore trangters 2025 2024 This Is stated after ¢harging: Depreclation of owned f5xed assets 733,984 697,038 10 Slaff Costs No employee received emoluments in exces5 of £60,000. There were no direct staff c05t5 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 Charlty and only the proportlon of cost relating to the Lower Garden515 recharged. Thls arrangement Is In place as thls Is consldered the most tost ellective way for maintenance of the Lower Gardens to be carried out. The attual cost is based on the tlmesheèts records and estirnates where the timesheets are not available. 11 T•nilbl• flxed assets Pavlllon Gardon5 Tot•1 Cost or revaluatlon At l Aprll 2024 Rtvaluatlon 19,379,000 6,495,404 25,874.404 2.689,200 22,068,2C 11,040,557) 5,454,847 1,648,643 27,523,047 At 31 March 2025 Depredatlon and Impalrment Depreciatlon charge for the vear Revaluation At 31 March 2025 715.116 18,868 733,984 1715,1161 118,8681 1733,9841 Net book valuei At 31 March 2025 At 31 March 2024 25,874,404 19.379,000 1,648,643 27,523,047 2,689,200 22,068.20J 12 St¢¢ks 2025 2024 Goods for resale and ¢onsumables 2,027 2,027 C•rryln8 lue analy5ed by a¢tlvltles 2025 2024 Commerclal operations 2,027 2,027 13 Debtors 2025 2024 Trade debtors 20,116 20.116 36,900 36.900 Page 18
Lower Central Gardens Bournemouth Notes to the Accounts 14 Qeditors: amounts falling due within one year 2025 2024 Trade creditors other Credltors 9,713 10,403 20,116 9,455 27.445 36,900 IS Movem•nt In funds In¢omlng fesour¢e5 At31 March {Includln At l Aprll other 2024 InS110S$e$j Resources expended 2025 Restrlrted funds: Endowm•nt funds: Pavilion 19,379,000 7,210,520 1715.1161 25,874.404 Tgtol 19,379,¢)00 7,210,520 1715,1161 25,874,404 Rutrlrt•d Inmme lund5: Gardens 2,689,200 1846,5961 1193,9611 1,648,643 Totol 2,689,200 1846,5961 1193,9611 1,648,643 Unrertrfded funds: General funds 903,546 1901,5191 2.027 Totsl funds 22,068,200 7,267,470 11,810,596) 27.525.074 Purposes and restrl¢tions in relation to the funds.. Endowment fund5'. Pavlllon The Pavilltsn became fully owned by the Charity In 2009-10 and was reflected that year in the accounts as a donatèd asset and the endowment fund. Thls reserve Is In the natvre of an endowment l.e. It may not be spent as Incomè nor disposed of. Re5trlcted funds.. Gardens The full amount of total valuatlons and the cost of any subsequent routlne fixed asset addStions is crèditèd tts the restricted Income fund as these assets can only be used for specific purpose5. Any revaluations or dtsposals ol a55ets within these sum51s a150 adjusted through the reserve. Page 19
Lowér Central Gardens Bournemouth Notes to ihe Accounts 16 Analy515 of nrt •ssets between funds Unrestrlcted funds R•5tr1rted funds Total Fixed assets 27,523,047 27,523,047 2,027 27,523,047 27,525,074 Net current assets 2.027 2,027 17 Related party dls¢lo$ures 2025 2024 Trqnsortlons kvlth relatedportle5 Nome of relotedporty BCP Council in its role as local authority Description of relt7tlonship between the porties Amount received from the related party 391,178 389.465 Amount owin¥ to the related party 10,403 27,445 The Lower Central Gardens Bournemouth's torporate trustee Includes the charlty in Its consolidated financial statements. The consolldated financial statements are prepared under Iniernatlonal Flnanclal Reportlng Standards and are avallable to the publlc at https'./lwww.bcpcouncll.gov.uVabout-the-council/budgets-and-finan¢e/annual-accounts. Havin8 85ven re8ard to Publ1¢ Benefit Entltv guldance the corporate trustee considers the Lower Central Garden5 8ournemouth to be a Publlc Benefit Entity. The Lower Central Garden5 Bournemouth's Corporate tTUStet Includes the charlty In its consolldated financial statements. The consolldated flnanclal statements are prepared under International Financial Reportln8 Standards and are avallable to the publ1¢ at https:l/www.bcpcoun¢ll.8ov.uk/about-the-council/budgets-and-financelannual-accounts. Having 8lven regard to Publlc 8enefit Entity guidance the corporate trustee conslders the Lower Central Gardens ournemouth to be a Public Benefit Entlty. The Councll a¢tlng In Its role as trustee of the ¢harltable trust nomlnate5 certain Members to act as members of the Trust Board. The Trust Board has a Constltutlon setting out administration and management arran8ement5 of the trust. The charlty trustee was not pald or reimbursed expenses durlng the year and dld not receive any emolument or payment for professional or othèr servlce5. There were no tran5artions involvlng the trustee and related partles and there were no ex-gratla payment5. The Councll has historically subsldlsed the annual defSclts of the Charlty. Trustee Page 20
Lower Central Gardens Boumemouth Oetalled Statement of Flnanclal Artlvitle5 for the year ended 31 March 2025 Unf•stricted funds 2025 Restrirted Endowm•nt fund5 funds Total fund5 Total fund5 2025 2025 2024 2025 Income and endowments from: Donation5 and legacies Donated services received from BCP Council Donated seivlces received from BCP Councll 216,085 216,085 226,196 175,093 175,093 163,269 216.08S 175.093 391.178 389,465 Chafltsble actlvltles Commerclal operations, actlvltles and events (see below for detalll 520,510 520,510 479,559 S20,510 520,510 479,559 Other trading artivities Mlni-8olf Art exhlbitlon 162,304 4,647 166.951 162,304 4,647 166,951 167,043 9,268 176,311 Total Intome and qndowm•nts 903,546 175,093 1,078,639 1,045,335 E¥pÈndlture on: C05t5 01 other tradlng activltles Comrnerclal operatlons 127,265 127.26S 127,265 127,265 160.093 160,093 Total of empendlture on r•l$lni funds 127,265 127,265 160,093 Charitable bctivltles Malntenante of 8arden5 and publlc buildln8515ee below for detalll Activltles and events (see below for detalll 374,476 175,093 549,569 549,925 390,778 390,778 336,626 765,254 175,093 940,347 886.551 Governance costs Audlt fees 9.000 9.000 8,250 8.250 Total of expendiluie on charltable actlvltles 774,254 175,093 949,347 894.801 General adminlstratlve ¢osts, Including depreclation and amortlsatlon Depreciation of Pavlllon Depreciation of Gardens 715.116 715,116 18.868 677.771 19,267 18,868 Page 21
Lower Centrnl Gardens 8oumemouth Detalled Statement of Flnanclal Artlvltles 18,868 18,868 715.116 715,116 733,984 733,984 697,038 697,038 Total of expendlture of other costs Totsl expendlture Net galns on Investments 901,519 193,961 715.116 1,810,596 1,751,932 Net expendSture 2,027 118,8681 1715.1161 1731.9571 1706,5971 Net expenditure before other lainslllossesl Other Gains 2,027 118,8681 1715,1161 1731,9571 1706,S971 11,021,689) 7,210,520 6,188,831 823,638 N•t movement In lunds 2,027 11,040,557) 6.49S,404 5,456,874 117,041 Reconclllatlon ot funds". Totsl funds brought forward 2,689.200 19.379,000 22,068,200 21,951.159 Total fund5 r4rrled fofward 2,027 1,648,643 25,874.404 27,525.074 22,068,200 Page 22