Hope Park Charltsble Trust Report of the Directors and Trustees and Flnancial Statements for the year ended 31 March 2025 Keswick ACCOUNTANTS
Hope Park Charitable Trust Index to the FinancSal Statements for the year ended 31 March 2025 Page Charity Information Trustees, Report Independent Examiner's Report Statement of Financial Activities Statement of Financial Activities Comparative Balance Sheet Notes to the Financial Statements
Hope Park Charitable Trust Charity Infomiation for the year ended 31 March 2025 DIRECTORS AND TRUSTEES: Cllr A L Dunn Cllr N Evans Cllr S Harwood Cllr C J Houghton Cllr C M Houghton Cllr D J T Kemp Cllr B R Lapthorn Cllr J Murray Cllr R Nelson Cllr C Peat Cllr R Scott Cllr L J Taylor CHIEF EXECUTIVE OFFICER". Miss Vivien Little BUSINESS ADDRESS 50 Main Street Keswick Cumbria CA12 5JS CHARITY NUMBER: 503465 ACCOUNTANT AND INDEPENDENT EXAMINER Frances Clark ACA Keswick Accountants Appleside 4 Leonard Street Keswick Cumbria CA12 4EJ Page 1
Hope Park Charitable Trust Report of the Trustees for the year ended 31 March 2025 The Trustees present their report together with the financial statements of the Charity for the year ended 31 March 2025. The accounts have been prepared in accordance with the Charities Act 2011, and the Accounting and Reporting by Charities= Statement of Recommended Practice (SORP) applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). Governing Document The Hope Park Trust is a charitable Trust governed by a trust Deed dated 10 June 1974. Objectives The provision and maintenance of a public park and recreation ground for use of the inhabitants of, and visitors to, the town of Keswick without the distinction of political, religious or other opinions, with the object of improving the conditions of life for the said inhabitants. Trustees The Trustees who acted during the period were as follows.. CllrA L Dunn Cllr N Evans - co-opted November 2024 Cllr S Harwood Cllr C J Houghton Cllr C M Houghton Cllr D J T Kemp Cllr S Lansbury- resigned September 2024 Cllr B R Lapthorn Cllr J Murray Cllr R Nelson Cllr T M Parsons- resigned January 2025 Cllr A G Paxon - resigned June 2024 Cllr C Peat- copted July 2024 Cllr R Scott - co-opted March 2025 Cllr L J Taylor Management Structure In 1974 Keswi¢k Town Council was conveyed the Park on trust for the people of Keswick. It is therefore a given that once democratically elected as a Town Councillor, the duty of Trustee forms part of that role. The recuitment process is therefore according to the Local Government Act 1972., Representation of the People Act 1983 as amended by the Representation of the People Act 1985, and Local Elections (Parishes and Communities) Rules 1986, amended 1999. Page 2
Hope Park Charitable Trust Report of the Trustees, contd. for the year ended 31 March 2025 Review of the Development. Activities and Achievements of the Charity During the year the Trust carried on with its objectives of running and maintaining the park for the benefit of the people of Keswi¢k. The running of the games and refreshment facilities were provided by a third paty contractor. Visitors to Hope Park can enjoy magnificent floral displays, putting, pitch and putt, obstacle golf and boules, visit the bird viewing station, sundial and have a drink or snack in Café Hope in wonderful surroundings. The Park has plenty seating most of which has been kindly donated in memory of loved ones. Hope Park is home to the Max the Miracle Dog statue which provides income to the park, so far this fund has been used to make improvements to many footpaths, a new handrail for a bridge and new equipment to keep the park maintained to a high standard. This fund is restricted to expenditure in Hope Park only. The Trust has made a number of steps to address climate change including declaring a Climate Change Emergency. What the Trust have done so far:_ Use only peat free compost Use glyphosate free weed killer Gradually introducing more bee friendly plants Led a campaign asking retailers not to stock disposable BBQS and have prohibited use in our Parks Worked with partners to coordinate the control of Balsam Changed to 1000/0 renewable energy suppliers Invested the majority of our reserves in Ethical Banks Replaced petrol equipment with electric as and when they need replacing Use lower carbon fuel for the remaining petrol equipment Have a Climate Change Action Plan in place which is regularly updated - All staff have been given Climate and Carbon Literacy training A Woodland Path has been introduced to improve accessibility to the Park via grant funding. The fantastic work undertaken by the Parks and Café staff was acknowledged as they were given well deserved accolades from Cumbria in Bloom obtaining gold and silver awards. During the year the old workshop was demolished, a new surface water drain installed along with a fence to help demark and secure the working area plus prevent members of the public from entering. New steps were buili between the Ph green and 8th tee box to improve access to the tee box. Page 3
Hope Park Charitable Trust Report of the Trustees, contd. for the year ended 31 March 2025 Finances During the year the Trust had net outgoing resources of £82,405 (incoming resources 2024 - £65,610). The main reason forthe significant difference in comparison with the previous year is the grant of £110,000 to Fitz Park Trust. When added to brought forward reserves of £846,610, the closing reserves were £764,205. Of this, £525,214 are fixed assets, including the value of the cafe and new staff accomodation and equipment. The year end revenue fund balance is £238,991 of which £84,899 are designated funds and £1,888 are restricted funds. Trustees and officerrs are currently working on short, medium and long-term plans. Reserves Pollcy The Trust has £152,204 of unrestricted revenue reserves. Ideally the level of reserves would represent 3 months of the previous years running costs which is in the region of £40,000. The totsl of unrestricted reserves is £677,418 {this includes fixed assets of £525,214). Further reseNes are held in designated funds, the Building Fund £9,449 and Development & Equipment Fund £31,068. These funds are held due to unforeseen ¢ircumstan¢es, such as flooding or other natural disaster to cover uninsurable loses e.g. open space, as well as provision for ongoing improvements and upgrades of the Trusts equipment and assets (including buildings). The Building Fund is allocated to Hope Park only whereas the Development and Equipment Fund can be used in either Hope or Fitz Park, the funds are 'topped up, annually from the previous years profit, no cap has been set for these funds although this may be addressed during the short, medium and long term planning exercise. Investment Policy The building fund and development and equipment fund earn interest during the year, along with any reserves held. As part of addressing climate change the Trust decided to invest some unrestricted reserves into Ethical Banks (CCLA & Unity Bank) earning a higher rate in interest. Risk Assessment An annual risk assessment is Carried out identrfying insurance and other risks, current arrangements for managing these and any other action required. Insurances are put in place where possible to mitigale any financial losses. ON BEHALF OF THE TRUSTEES Page 4
Hope Park Charitable Trust Independent Examiners Report for the year ended 31 March 2025 I report on the accounts for the Trust for the year ended 31 March 2025 which are set out on pages 5 - 13. Respective responsibilities of trustees and examlner The charity's trustees are responsible for the preparation of the accounts. The charitls trustees consider that an audit is not required for this year, under section 144(2) of the Charities Act 2011 (the 2011 Act}, and that an independent examiners report is needed. It is my responsibility to- examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Chariiy Commission under section 145(5)(b) of the 2011 Act., and - to state whether particular matters have come to my attention. Basis of independent examiners report My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with these records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the accounts. Independent examiners. statement In connection with my examination, no matter has come to my attention= (1) which gives me reasonable cause to believe that, in any materral respect, the requirements to.. keep accounting records in accordance with s130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met., or {2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Frances Clark ACA Keswick Accountants Appleside 4 Leonard Street Keswick Cumbria CA12 4EJ Page 5
Hope Park Charitable Trust Statement of Financlal Activities for the year ended 31 March 2025 31 March 2025 Notes Restricted Unrestrided Designated Total Funds Funds Funds 31 March 2024 Total INCOME Donations and legacies Donations and gifts Legacies receivable Grants receivable 266 4.277 1,040 4,543 1,040 9,140 1.577 1,073 Other Trading Activities 205.243 205,243 197.509 Income from investments 7.511 7,511 3,350 Total income 213.020 5.317 218,337 212,649 EXPENDITURE Expenditure on charitable activities 305 296,317 4,120 300,742 147.039 Total expendlture 305 296.317 4,120 300,742 147,039 Net incoming l (outgoing) resources 1305) 183.297) 1,197 (82,4051 65,610 Net movement in funds 13051 183,297} 1.197 {82,4051 65.610 Total funds brought fotward 2.193 726.100 118,317 846,610 781.000 Transfers between funds 34.615 {34.6151 Total funds carrled forward 15 1.888 677,418 84,899 764,205 846.610 Funds carried forward as follows:. Revenue Funds Fixed Asset Funds 1,888 152,204 525.214 677N18 84,899 238.991 525,214 84,899 764,205 328.343 518,267 846.610 1.888 The notes form part of these financial statements Page 6
Hope Park Charitable Trust Statement of Financial Activities Comparative 31 March 2024 31 March 2024 Restricted Unrestricted Designated Total Funds Funds Funds INCOME Donations and legacies Donations and gifts Legacies receivable Grants receivable 489 8,651 1,577 9,140 1,577 1,073 1,073 Income from charitable activities Primary Purpose Trading 197,509 197,509 Income from investments 3,264 86 3,350 Totsl income 1,073 201,262 10,314 212,649 EXPENDITURE Expenditure on charitable activities 1,263 145,728 48 147,039 Totsl expenditure 1,263 145,728 48 147,039 Net incoming l (outgoing) resources (190) 55,534 10,266 65,610 Total funds brought forward 5,333 683,526 92.141 781,000 Transfers beeen funds (2,950) (12,960) 15,910 Total funds carried fonNard 2,193 726,100 118.317 846,610 Funds carried forward as follows:. Revenue Funds Fixed Asset Funds 2,193 207,833 518,267 726,100 118,317 328,343 518,267 118,317 846,610 2,193 The notes fomi part of these financial statements Page 7
Hope Park Charltable Trust Balance Sheet asat 31 March 2025 Notes 31 March 2025 31 March 2024 Fixed Assets Tangible fixed assets 12 525,214 518,267 525,214 518,267 Current Assets Debtors Cash at bank and in hand 13 145 290,693 53 369,358 290,838 369,411 Creditors: amounts falling due within one year Creditors and accruals 14 51,847 41,068 Net Current Assets 238,991 328,343 Total Assets less Current Liabilities 764,205 846,610 NET ASSETS 764,205 846,610 Funds Restricted funds Unrestrided funds Designated funds 15 1,888 677,418 84,899 2,193 726,100 118,317 16 764.205 848,610 As Approved on: "T44 ?teS By: Page 8
Hope Park Charitablg Trust Notes to the Financial Ststsments for the year ended 31 March 2025 1 Accountlng Policies General The financial statements have been prepared in accordance with Accounting and Reporting by charitS.. Statement of Recommended Practice applicable to charities in Pparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20151- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The charity meets the definition ol a public benefit entity under FRS102. Assets and liabilities are initially recognised at histOTical cost or transaction value unless otherwise stated in the relevant accounting policy note Is). Tangible Fixed Assets and Depreciation All tangible fixed assets are stated at cost less depreciation. Freehold land and buildings are maintained in a good slate of repair and in the opinion of the Trustees the realisable value of the land and buildings is not less than the book value. Consequentty no depreciation has been provided on freehold land and buildings. All other assets are depreciated at the following rales'.- Vehicles. planl and machinery- 20Vo reducing balance Income Income is accounted for on a re[Vable basis. Where income is received for a specific purpose, as defined by the donor, this income is classed as restricted. Income received towards the general objects of the charity is lassed as unrestricted. Expenditure Expenditure is accounted for on an accruals basis. Where it relates to a specific project it is allocated lo that project as restiicted expenditure. Expenditure that relates lo the objects of the charity is classified as charitable activities. Any legal or professional costs are classified as governance costs. The costs of generating funds are separately indentified. Funds General funds are those where no reslriclions have been placed upon the speerfic spending of the funds by the donor. Designated funds are those funds where the directors have ehosen to eamiark general funds for specfic purpose. Restricted funds are those funds where the donation is received for a specific purpose as set out by the donor. 2 Payment to Accountants The payment to the accounts included in the expenditure is split as follows- 2025 2024 Payment for preparation of accounts Payment for Independent Examination 590 340 930 575 325 900 Page 9
Hope Park Charitsble Trust Notes to the Financial Statements for the year ended 31 March 2025 31 March 2025 Restricted Unrestricted Designated Total 31 March 2024 3 Donations and gifts Donations 266 266 9,140 4 Legacles receivable Memorial Seats 1,040 1,040 1,040 1,040 1,577 1.577 S Grants recelvable Cumbria County Council 1,073 1,073 6 Other trading activities License fee and rent Squirrel I bird feeding station income Sale of assets I scrap Hire of park 204,068 312 113 750 20S,243 204,068 312 113 750 205,243 196,030 397 135 947 197,509 7 Investment income Bank interest received 7,511 7,511 7.511 7.511 3,350 3,350 8 Charitable activities Grant to Fitz Park Staff costs and uniforms KTC recharge of admin cos1¢ (see note 91 Health and safety costs Telephone Web. internet and computer Golf equipment and tools Motor vehicle expenses Contingency Water rates and trade refuse Insurance Repairs and maintenance Climate change costs Light and heat Plant production, trees and bird feed Memorial seats and plaques Materials Equipment costs Max statue expenditure Woodland walk expeniture Sign5 expense Development C05ts Building fund expenditure Depreciation Plant and machinery Fixtures and Fittings Motor Vehicles Office Equipment Loss I IProfftl on disposal of fixed assets Independent Examiners Fee 110,000 88,045 29.831 351 488 898 779 3.812 2.436 1.770 3.761 12.563 361 110.000 88.045 29.831 351 488 898 779 3,812 2,436 1,770 3,761 12,563 361 842 7,476 120 1,185 61.642 28.239 441 463 1,379 439 3,807 1,237 3,419 13,867 628 3,718 6,856 48 1.309 1,073 7,476 120 1,185 3.000 3.000 305 20 1,000 18,070 305 190 400 1,000 20 1,000 18,070 9,646 1.148 7,731 131 15,957} 930 296,317 9.646 1.148 7,731 131 (5,9571 930 4,120 300,742 5.809 1.283 9,664 164 19361 900 147,039 305 Page 10
Hope Park Charitable Trust Notes to the Flnancial Statements for the year ended 31 March 2025 9 Breakdown of Keswl¢k Town Council Recharyes 31 March 2025 31 March 2024 Salaries, National insurance and Pension Pension to Former Employee Staff Expenses Payroll Outsource Costs Rent Building Setvice Costs Insurance Repairs Subscriptions Stationery and Printing Postage Photocopier Lease and Charges Computer Maintenance Website and Internet Costs Telephone Health and Safety Office Equipment and Fitting5 Council Chamber Expenditure Conferences l Training 24,319 337 41 48 1,414 1,280 166 47 201 129 43 365 795 250 146 20 16 27 185 29,829 22,484 313 33 1.414 1,564 178 129 214 137 67 328 671 232 239 24 159 28.239 10 Employee Remuneration Staff costs and uniforms 31 March 2025 31 March 2024 Gross salaries Other staff and recruitment costs Training and workwear 85,623 204 2,218 88,045 59,715 1,481 61,642 No employee earned £60,000 or more. The average number of stsff employed by the trust during the year was as follows.. 31 March 2025 No. 31 March 2024 Staff numbers Gardeners and groundsmen Administration 2.70 0.40 3.10 2.70 3.10 11 Trustse Remuneratlon and Expenses No remuneration directly or indirectly out of the funds of the charity was paid or payable for the year to any trustee or to any person or persons known to be connected with any of them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year. Page 11
Hope Park Charltable Trust Notes to the Financial Ststements for the year ended 31 March 2025 12 Tangible Fixed Assets Land and Buildings Plant and Fixtures and Machinery Fittings Motor Vehicles Total COST At 1 April 2024 Additions Disposals At 31 March 2025 450,589 56,795 28,541 12,734 72,602 30,113 605 64,600 602.097 29,146 {12,734) 618,509 450.589 30,718 64,600 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal< At 31 March 2025 32,905 9,777 (9,191) 33,491 24,980 1,148 25,945 7,731 83,830 18,656 (9,191} 93,295 26,128 33,676 NET BOOK VALUE At 31 March 2025 450,589 39,111 4,590 30,924 525,214 At 31 March 2024 450,589 23,890 5,133 38,655 518,267 13 Debtors 31 March 2025 31 March 2024 Other debtors 145 145 53 53 14 Creditors: amounts falling due within one year 31 March 2025 31 March 2024 Trade creditors HP Liability Other taxation & social security Accruals Owed to 6.501 2,358 60 15,017 30,269 51,847 60 8,311 30,339 41,068 Page 12
Hope Park Charltable Trust Notes to the Flnancial Statements for the year ended 31 March 2025 15 Funds At Incoming Outgoing At 1 April 2024 Resources Resources Transfers 31 March 2025 Restrlcted Funds CCC Woodland Walk 2,193 {3051 1,888 2,193 {3051 1.888 At Incoming Outgoing At 1 April 2024 Resources Resources Transfers 31 March 2025 Designated Funds Building Fund 26.519 (17,070) 9.449 Equipment and Development Fund 42,508 (1,0001 (10,440) 31,068 Memorial Seats and Trees 2,118 1,040 (1201 (6051 2,433 Max Statue Fund 47,172 4,277 (3,0001 (6.500) 41,949 118,317 5,317 (4.1201 (34.615) 84.899 Note.. the transfers from Memorial Seats and Trees to the general reseNes are to cover the cost of fixed asset purchases to be met by those funds, that have been added to the general reserves. Funds Comparative Year Ended 31 March 2024 At Incoming Outgoing At 1 April 2023 Resources Resources Transfers 31 March 2024 Restricted Funds CCC Woodland Walk 5,333 (1901 {2,9501 2,193 CCC Bike Rack 1.073 {1.0731 5.333 1.073 1,263 2.950 2.193 At Incoming Outgoing At 1 April 2023 Resources Resources Transfers 31 March 2024 Designated Funds Building Fund 15,519 11.000 26,519 Equipment and Development Fund 33,722 8.700 42,508 Memorial Seats and Trees 4.379 1,577 148) 13.790) 2,118 Max Statue Fund 38,521 8,851 47.172 92,141 10,314 48 15.910 118.317 Page13
Hope Park Charitable Trust Notes to the Financial Statements for the year ended 31 March 2025 16 Net Assets by fund Restricted Unrestricted Designated Total Tangible fixed assets Current assets Creditors.. amounts falling due within one year 525,214 204,051 {51,847) 525,214 290.838 (51,847) 1,888 84,899 Total net assets 1,888 677,418 84,899 764,205 Net Assets by fund Comparative Year Ended 31 March 2024 Restricted Unrestricted Designated Total Tangible fixed assets Current assets Creditors.. amounts falling due within one year 518,267 248,901 (41,068) 518,267 369,411 (41,068) 2,193 118,317 Total net assets 2,193 726,100 118,317 846,610 Page 14