THE NICHOLAS EVERITT
PARK
FINANCIAL STATEMENTS
31 MARCH 2024

THE NICHOLAS EVERITT PARK
CONTENTS
Page
TNstees' Report
Accountants. Report
Statement of Financial Activities
Balance Sheet
Notes to the accounts
8-11

THE NICHOLAS EVERITT PARK
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustee present their report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the
accounts and comply with the charity's governing document. the Charities Act 2011 and Accounting and
Reporting by Charities". Statement of Recommended Practi￿ applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in
October 2019.
Reference and Administrative Details
Charity Name
The Nicholas Everitt Park
Charity Number
Address of Charity:
304788
The Pavilion
Nicholas Everitt Park
Oulton Broad
Lowestoft
Suffolk
NR33 9JR
Trustee
Oulton Broad Parish Council
Counclllors of Oulton
Broad Parish Councll
Cllr S Keller
Cllr B Falat
Cllr J Bragg
Cllr T Cannon {r8signed 14 March 2024)
Cllr P Carver
Cllr B Keller
Cllr A Page (resigned 3 May 2023)
Cllr L Pullen (resigned 3 May 2023)
Cllr C Ashdown
Cllr D Bromley (appointed 19 June 2022)
Cllr A Besford-Land (appointed 19 June 2023)
Cllr D Munro (appointed 19 June 2023)
Cllr J Davis (appointed 19 June 2023)
Cllr J Turner (appointed 17 June 2024)
Ms M McGoun
Clerk to Councll
Bank
Barclays
21-22 Cornhill
Bury St Edmunds
Suffolk
IP33 1DY
Independent Examiner
Lovewell Blake LLP
Chartered Accountants
Bankside 300
Peachman Way
Broadland Business Park
No￿l¢h
Norfolk NR7 OLB

THE NICHOLAS EVERITT PARK
TRUSTEE'S REPORT CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and Activities
Principal Objectives
Land to be used as an open space by inhabitants and visitors to Lowestoft. Reasonable facilities shall be given
for general sports and recreation including water sports.
Public benefit
Open all year round the park is an impressive green space alongside the broads. A traditional park in many
respects with a number ofvisitor attractions, it also provides a variety of habitats for the wildlife which inhabitthe
spa￿. This popular park is used throughout the year for many events and is renowned for those activities
associated with the broad itself including powerboat racing and fishing. The park gained the green Flag award
again in 2022.
In the centre of the park is a traditional bandstand and a large. open space. This is a popular spot for picnics.
Beyond this is the children's play area, trampolines, crazy golf and refreshment facilities. There are traditional
seasonal bedding displays which lead down to the tennis courts and bowling greens. Lowestoft Museum is
located within the park offering a wealth of local history.
Used by both visitors and the local community.
The trustee has given due regard to the guidance issued by the Charity Commission on public benefit.
Achievoments and Performan¢•
During the year ended 31 March 2024 the following occurred..
The pavilion was hired out for the Arts circle. wood turner. Bowls and income received.
The park was awarded the Green Flag Award again this year.
Improvements have been made to the beds beside the sunken garden5 to match on each side.
Financial Review
The results for the year are shown on pages 6 - 11.
Reseryes policy
The charity is undetwritten by Oulton Broad Parish Council. Free reserves at 31 March 2024 amounted to
£32.312 (2023,. £31,854) including restricted reserves of £6.000 (2023.. £6,000).
The required level of reserves to be held is to be equivalent to six months expenditure.

THE NICHOLAS EVERirr PARK
TRUSTEE'S REPORT CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
Plans for Future Perlods
The Charity has the following plans for 2025126:
Park maintenance will continue to be gifted by the Parish Council, the value of the gift is £137,000.
The income from events is expected to increase due to more events planned throughout the year.
Security will continue to be needed.
The museum are underway with their plans to refurbish areas of the building from the help of the MEND
grant.
The bandstand roof has been refitted. the Old Forge required BA Planning perrnission so it will be re
roofed in the near future.
The Charity will continue to hold meetings virtually.
The pavilion is open for hire.
Income from events is expected to continue to improve with added events in the year.
Work will be undertaken to ty and separate the Parish Council and the charity and publicise th8 fa¢t
that they are separate entit18S.
The charity now has a pag8 on the Oulton Parish Council website and will be developing a charity
Facebook page.
Plans to refurbish some of the assets that have not been touched in years.
Structure, Governance and Management
Governing Document
The Nicholas Everitt Park is a charity that was established under a Deed of Gift 1929 which set out the objects
and powers of the charity. The charity is registered with the Charity Commission. (Registration No 304788).
Récruitment and Appolntment of Trustees
The sole Trustee of the charity is Oulton Broad Parish Council.
Organisatlonal Structure
On 1 April 2018 the trusteeship of the charity transferred from Waveney District Council to Oulton Broad Parish
Council.
The day-to-day operation of the charity is undertaken by the clerk of the charity and Oulton Broad Parish Council.
True and falr override
The financial statements have been prepared to give a "true and fair" view and have departed from the Charities
(Accounts and Reports) Regulations 2008 only to the extent required to provide a "true and fair" view. This
departure has involved following Accounting and Reporting by Charities 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 rather than Accounting and Reporting by Charities.. Statement of Recommended Practice
effective from 1 April 2005 which has since been withdrawn.

THE NICHOLAS EVERITT PARK
TRUSTEE'S REPORT CONTINUED
FOR THE YEAR ENDED 31 MARCH 2024
Independent examiner
Mark Proctor FCA DChA of Lovewell Blake LLP will be reappointed as independent examiner for the ensuing
year.
This report has been approved and signed on behalf of the Trustee:
Date: Iq . 09 . 2s)£Lk

THE NICHOLAS EVERITT PARK
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrestri¢ted Restri¢tsd
2023
Total Unrestrlcted Restrl¢ted
Funds
Total
Funds
Income
Grants - towards repairs
and maintenance
Property lettings
Leisure activity- Bowls
Leisure activity- Other
Leisure activity- Power
Boat income
Leisure activity- Tennis
Donations
Misc. income
129,000
129,000
151,118
151,118
50,655
2,084
6,293
2.130
50.655
2,084
6,293
2,130
55,316
2,030
5,007
55,316
2.030
5,007
400
64
400
64
457
258
457
258
Total Income
190,626
190,626
215,745
215,745
Expendlture on
Charltable Activltles
Insurance
Legal fees
Accountan
Independent examination
Chartered surveyors
Management fees
Repairs and maintenance
Security
Utilities
Event expenses
Mis￿lIaneOUS
287
287
267
765
418
2,400
4.000
466
126,173
50,784
26,207
2.012
267
765
418
2.400
4,000
466
126,173
50.784
26,207
2.012
2,273
2,273
462
115,614
45,362
24,398
798
974
462
115,614
45,362
24.398
798
974
Total Expenditure
190.168
190,168
215,220
215,220
Net movement in funds
458
458
525
525
Fund balance at 1 April
2023
Fund balance at 31 March
2024
2 153 999
2 146 674
2 152 674

THE NICHOLAS EVERITh PARK
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Fixed assets
Land and buildings
Fixtures. fittings and equipment
Community asset
1.796.000
159,345
160 000
1,796,000
159,345
160 000
Total fixèd assets
2115345
2115345
Current assets
Cash at bank
Debtors - VAT
1.590
11,112
Total current assets
Current Ilabilities
Independent examination fees accrual
Creditors
(2.273)
(2,105)
Total current liabilities
NET ASSETS
Funds
Unrestricted
Restricted
2.147,657
2,147,199
Total funds
19
These accounts were approved by the Trustee on.

THE NICHOLAS EVERITT PARK
NOTES TO THE ACCOUNTS
AS AT 31 MARCH 2024
1. Principal accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied
consistently throughout the year and the preceding year.
{a) Statement of compliance and basis of preparation
The accounts have been prepared on a historical cost basis as modified for certain assets held at
valuation in accordance wilh Accounting and Reporting by Charities: Statement of Recommended
Practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting
standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charites Act 2011
and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fairf view and have departed from the
Charities (Accounts and Reports} Regulations 2008 only to the extent required to provide a 'true and
fair view,. This departure has involved following the Accounting and Reporting by Charities: Statement
of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019
rather than the Accounting and Reporting by Charities: Ststement of Recommended Practice effective
from 1 April 2005 which has since been withdrawn.
The Charity constitutes a public benefit entity as defined by FRS 102.
Fund accountin9
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general
objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the
terms of an appeal.
(b) Income
All income is included in the statement of financial activities when entitlement has passed to the charity,
it is probable that the economic benefits associated with the transaction will flow to the charity and the
amount can be reliably measured. The following specific policies are applied to particular categories of
income:
Income from donations and legacies is received by way of grants, donations and gifts and is
included in full in the Statement of Financial Activities when receivable. Grants. where entitlement
is not conditional on the delivery of a specific perf0rrnan￿ by the charity, are recognised when the
charity becomes unconditionally entitled to the grant.
Income from grants, where related to performance and specific deliverables. are accounted for as
the charity earns the right to consideration by its performance.
Property income is accounted for in the period to which it relates.

THE NICHOLAS EVERITT PARK
NOTES TO THE ACCOUNTS
AS AT 31 MARCH 2024
(d) Expendlture
Expenditure is recognised on an accrual basis as a liabilty is incurred. Expenditure includes any VAT
which cannot be recovered. and is reported as part of the expenditure to which it relates:
Charitable expenditure comprises those costs incurred by the charity in the delivery of its aotivities
and services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
(e) Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any
related transaction costs. unless the arrangement constitutes a financing transaction, where it is
recognised at the present value of the future payments discounted at a market rate of interest for
similar debt instrument.
Current assets and Current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
(fj Going concern
The financial statements have been prepared on a going concern basis, as the Trustees believe that
no material uncertainties exist. The Trustees have considered the level of funds held and the expected
level of income and expenditure for 12 months from authorising these financial statements. The
budgeted In￿Me and expenditure is sufficient with the level of reserves for the charity to be able to
continue as a going concern.
(g) Fixed assets
During the years ended 31 March 2021 and 31 March 2022 the Trustees took the opportunity to review
the assets of the charity and the value of such assets. The Trustees had previously valued the land and
building assets, including those which were transferred from East Suffolk Council in 2017, on a current
value per square metre I foot but during the year ended 31 Mar¢h 2022 a valuation was completed by
a chartered surveyor.
Included within fixtures, fittings and equipment are assets of £112,321 which were paid for by Oulton
Broad Parish Council., funded by grants received by Oulton Broad Parish Council or through insurance
claims.
2. Staff costs and emoluments
The charity had no employees during theyear (2023: Nil) therefore, no employees received emoluments
of more than £60,000 during the year (2023: Nil).

THE NICHOLAS EVERITT PARK
NOTES TO THE ACCOUNTS
AS AT 31 MARCH 2024
3. Trustees, remuneration and reimbursed expenditure
No Trustees receNed any remuneration or expenses from the charity during the year (2023: Nil).
4. Related party transactions
Some of the Councillors of the Oulton Broad Parish Council are tenants of the properties owned by the
Charity With rental charges being on a commercial basis.
During the year a total of £129.000 (2023.. £151,118) was received from Oulton Broad Parish Council
in grants.
S. Analysis of charitable funds
31 March 2024
Funds
brou9ht
fonNard
Transfers
and
Payments Revaluation
Funds
carrfed
forward
Receipts
Unrestrlcted
2 147 199
190 626
190 168)
2 147 657
RestriGted
Safety Fence
Viewing platform
2,000
2,000
Total
31 March 2023
Funds
brought
forward
Transfers
and
Revaluation
Funds
Carried
forward
Recelpts
Payments
Unrestricted
2 146 674
215 745
215 220)
2 147 199
Restricted
Safety Fence
Viewing platform
2.000
2.000
Total
10

THE NICHOLAS EVERITT PARK
NOTES TO THE ACCOUNTS
AS AT 31 MARCH 2024
6. Analysis of net assets between funds
Unrestricted
Funds
31 March 2024
Restricted
Funds
Total
Funds 2023
Tangible fixed assets
Current assets
Creditors less than 1 year
2.115,345
36,370
2,115,345
42,370
6,000
Net assets
31 March 2023
Unrestricted
Funds
Restricted
Funds
Total
Funds 2022
Tangible fixed assets
Current assets
Creditors less than 1 year
2,115,345
37,415
2,115.345
43,415
6,000
Net assets
11

THE NICHOLAS EVERITT PARK
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE
FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustee on my examination of the accounts of the charity for the year ended 31 March 2024
whioh are set out on pages 6 to 11.
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 Acr).
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
seclion 145(5)(b) of the Act.
Independent examlnerfs statement
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause to believ8 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
Ihe accounts do not comply with the applicable requirements concerning the form and conlent 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.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance
with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities.. Statement of Recommended
Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally A¢￿pted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have no concerns and have come across no other matters in conneclion with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Proctor FCA, DChA
Independent Examiner
LOVEWELL BLAKE LLP
Chartered Accountants
Bankside 300
Peachman Way
Broadland Business Park
Norwich
Norfolk
NR7 OLB