**Charity No: 300089**
## **BULL CROFT RECREATION GROUND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **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:** 8A Castle Street Wallingford Oxon OX10 8DL **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 2024**
The Trustee presents the report together with the financial statements for the year ended 31[st] March 2024. 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 £24,387 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 2024, 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:
1. accounting records were not kept in respect of the charity 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 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 2024**
|**Unrestricted**
**2024**
**£**
**INCOMING RESOURCES**
**Incoming resources from generated funds:**
**Activities for generating funds**
Rents from properties
80,204
Letting of Bull Croft Park
1,716
Other
1,448
**Total incoming resources**
83,368
______
**RESOURCES EXPENDED**
**Charitable activities:**
**Maintenance and administration of the Bull Croft Park**
Salaries and wages
67,486
Light and heat
1,535
Telephone
604
Computer services
868
Repairs and maintenance
7,273
Petrol
830
Seeds, plants and trees
1,415
Tractor expenses
1,912
Sundry expenses
337
82,260
______
**Costs of generating funds:**
**Maintenance and administration of investment properties**
Maintenance of properties
19,897
Rates and water
2,061
Insurance
2,337
Professional fees
-
Accountancy
1,200
_____
25,495
______
**TOTAL RESOURCES EXPENDED**
107,755
______
**Net (resources expended)/incoming resource**
**(**24,387)
Funded from the WTC Rate Fund
24,387
______
Net movement in funds
-
Total funds brought forward
-
_____
**TOTAL FUNDS CARRIED FORWARD**
-
=====|**Total**
**Total**
**2024**
**2023**
**£**
**£**
80,204
79,481
1,716
1,621
1,448
500
______
83,368
81,602
______
______
67,486
54,058
1,535
977
604
582
868
755
7,273
11,953
830
2,990
1,415
3,338
1,912
536
337
541
_____
82,260
75,730
______
______
19,897
15,077
2,061
191
2,337
2,009
-
37
1,200
400
_____
_____
25,495
17,714
______
______
107,755
93,444
______
_____
(24,387)
(11,842)
24,387
11,842
______
______
-
-
-
-
______
_____
-
-
=====
=====|
|---|---|
Page 4
## **BULL CROFT RECREATION GROUND**
## **BALANCE SHEET AS AT 31 MARCH 2024**
**----- Start of picture text -----**
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - -
CURRENT ASSETS
Cash at bank 106,060 180,168
Prepayments 5,925 6,075
_____ _____
111,985 186,243
_____ _____
CREDITORS: Amounts falling due
within one year 5 111,985 186,243
_____ _____
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 2024**
## **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 in October 2019, the Financial Reporting Standard applicable in the United Kingdon and Republic of Ireland (FRS 102) and 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 2024**
## **3. NET RESOURCES EXPENDED**
This is stated after charging:
|his is stated after charging:|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Independent Examiner’s remuneration|1,200|400|
||=====|=====|
## **4. TANGIBLE FIXED ASSETS**
The charity owns the Bull Croft Park, 8(a), 8(b) and 8(c) Castle Street, Bull Croft Lodge 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 £4,092,189 which is an estimate of their replacement cost.
||||**2024**|**2023**|
|---|---|---|---|---|
|**5.**|**CREDITORS:**|Amounts falling due within one year|**£**|**£**|
|Accruals|||111,985|186,243|
||||======|=====|
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