Charity No: 300089
BULL CROFT RECREATION GROUND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
BULL CROFT RECREATION GROUND
Contents
| Page | |
|---|---|
| Reference and Administrative Information | 1 |
| Trustee’s Report | 2 |
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Accounts | 6 |
BULL CROFT RECREATION GROUND Reference and Administrative Information
| Nominative Trustee: | Wallingford Town Council |
|---|---|
| Charity Number: | 300089 |
| Charity Offices: | 9 St Martin’s Street |
| Wallingford | |
| Oxon | |
| OX10 0AL | |
| Accountants: | Wenn Townsend Accountants Limited |
| 10 Broad Street | |
| Abingdon | |
| Oxon | |
| OX14 3LH |
Page 1
BULL CROFT RECREATION GROUND
Trustee’s Report for the year ended 31 March 2021
The Trustee presents the report together with the financial statements for the year ended 31[st] March 2021. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and relevant regulatory and legal requirements.
Trustees
The trustee of Bull Croft Recreation Ground is Wallingford Town Council, being appointed by the original Deed of Gift.
Investment powers
The Trustee Act 2000 gives the trustee powers of investment.
Constitution, objects & policies
The Bull Croft Recreation Ground is constituted by a trust deed. The Bull Croft was given to Wallingford Town Council in trust, to be used for the benefit of the inhabitants of Wallingford. The recreation ground is maintained and administered by Wallingford Town Council. The gift included a number of properties, which the Council also maintains and administers. Any net income from these properties is used to contribute to the costs of maintaining the recreation ground. The trustee confirms that it has complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission
.
Development activities and achievements
The trustee considers that the performance of the charity during the year was satisfactory.
Financial review and reserves
The cost of maintaining the recreation ground exceeded the net income from properties in the year by £12,235 and this has been funded from the Wallingford Town Council Rate Fund.
Risk management
The day to day running of the charity is undertaken by the trustee, Wallingford Town Council. This includes, where appropriate, the assessment of any operational risks facing the charity and establishing procedures to mitigate any significant risks.
Approval
The Mayor
on behalf of Wallingford Town Council
Page 2
BULL CROFT RECREATION GROUND
Independent Examiner’s Report to the Trustee of the Bull Croft Recreation Ground
I report to the charity’s trustee on my examination of the accounts of the charity for the year ended 31 March 2021, which are set out on pages 4 to 7.
Responsibilities and basis of report
As the charity’s trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matter has come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Bates BA FCA
Wenn Townsend Accountants Limited 10 Broad Street Abingdon Oxon OX14 3LH
Date :
Page 3
BULL CROFT RECREATION GROUND
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR TO 31 MARCH 2021
| Unrestricted 2021 £ INCOMING RESOURCES Incoming resources from generated funds: Activities for generating funds Rents from properties 57,387 Letting of Bull Croft Park 1,608 Other 200 Total incoming resources 59,195 __ RESOURCES EXPENDED Charitable activities: Maintenance and administration of the Bull Croft Park Salaries and wages 45,686 Light and heat 885 Telephone 987 Repairs and maintenance 5,794 Petrol 348 Seeds, plants and trees 3,217 Tractor expenses 145 Sundry expenses 269 57,331 _ Costs of generating funds: Maintenance and administration of investment properties Maintenance of properties 11,282 Rates and water 991 Insurance 1,426 Professional fees - Accountancy 400 14,099 __ TOTAL RESOURCES EXPENDED 71,430 _ Net (resources expended)/incoming resources (12,235) Funded from the Wallingford Town Council Rate Fund 12,235 Net movement in funds - Total funds brought forward - TOTAL FUNDS CARRIED FORWARD - ===== |
Total Total 2021 2020 £ £ 57,387 59,700 1,608 1,599 200 800 __ 59,195 62,099 _ 45,686 47,984 885 1,036 987 814 5,794 21,887 348 114 3,217 5,358 145 1,705 269 57 57,331 78,955 __ _ 11,282 18,519 991 905 1,426 1,414 - - 400 400 _ 14,099 21,238 _ 71,430 100,193 (12,235) (38,094) 12,235 25,665 __ _ - (12,429) - 12,429 - - ===== ===== |
|---|---|
Page 4
BULL CROFT RECREATION GROUND
BALANCE SHEET AS AT 31 MARCH 2021
----- Start of picture text -----
2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - -
CURRENT ASSETS
Cash at bank 52,341 30,808
Prepayments - 474
_
52,341 31,282
_
CREDITORS: Amounts falling due
within one year 5 52,341 31,282
NET CURRENT ASSETS - -
_
NET ASSETS - -
===== =====
FUNDS
Unrestricted funds - -
Endowment funds - -
__ _____
- -
===== =====
----- End of picture text -----
The Mayor, on behalf of Wallingford Town Council Date:
Page 5
BULL CROFT RECREATION GROUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and in accordance with the 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 of Ireland (FRS 102) issued on 16 July 2014, with the Financial Reporting Standard applicable in the United Kingdon and Republic of Ireland (FRS 102) and with the Charities Act 2011.
1.2. Incoming resources
Incoming resources from rents are included when receivable.
1.3 Resources expended
Resources expended are recognised in the period in which they are incurred, net of VAT.
Expenditure is either allocated to the maintenance and administration of the Bull Croft Park or the investment properties.
1.4 Tangible fixed assets
Neither the original cost nor the improvements to freehold land and buildings have been capitalised because they are inalienable and form part of a permanent endowment which means that these cannot be sold but must be held in perpetuity.
The original cost of the assets and improvements thereto is not available. The trustee considers the cost of carrying out a professional valuation to include these assets at a value in the accounts to be considerable compared to the limited additional benefit derived by the users of the accounts.
1.5 Fund accounting
Funds held by the charity are either:
Unrestricted general funds – these are funds, which can be used in accordance with the charitable objects at the direction of the trustee.
Permanent endowment funds – these are funds that represent those assets, which must be held permanently by the charity.
2. SALARIES AND WAGES
The charity does not have its own employees but makes a contribution to Wallingford Town Council of 40% of the cost of its parks and gardens staff.
Page 6
BULL CROFT RECREATION GROUND
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
3. NET RESOURCES EXPENDED
This is stated after charging:
| his is stated after charging: | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Independent Examiner’s remuneration | 400 | 200 |
| ===== | ===== |
4. TANGIBLE FIXED ASSETS
The charity owns the Bull Croft Park, 8(a), 8(b) and 8(c) Castle Street, Bull Croft Lodge, Bull Croft Recreation Rooms and Castle Street Yard. These properties were originally gifted to the charity to be held in perpetuity in accordance with the Trust Deed and they form part of the permanent endowment funds. The original value and the cost of improvements to them have not been included in the balance sheet because, in the opinion of the trustee, the cost of professionally valuing these assets to include a value in the accounts outweighs the benefit to the users of the accounts. They are insured for £2,484,033 which is an estimate of their replacement cost.
| 2021 | 2020 | |||
|---|---|---|---|---|
| 5. | CREDITORS: | Amounts falling due within one year | £ | £ |
| Accruals | 52,341 | 31,282 | ||
| ===== | ===== |
Page 7