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2022-03-31-accounts

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 REGISTERED CHARITY NUMBER 510841

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK CONTENTS

Page
Reference and administrative details 1
Trustees’ report 2 - 8
Independent examiner’s Report 9
Statement of financial activities 10 - 11
Balance sheet 12
Notes to the financial statements 13 - 21

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK REFERENCE AND ADMINISTRATIVE DETAILS

CHARITY NO: 510841

TRUSTEES

Sheffield City Council is the sole Trustee of the charity, acting through the Charity Trustee Sub Committee.

Charity Sub-Committee Members:

Cllr Bryan Lodge (Chair) Cllr Richard Williams (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Julie Grocutt Cllr Dawn Dale

PRINCIPAL ADDRESS

Sheffield City Council Parks and Countryside Moorfoot Level 3 West wing Sheffield S1 4PL

INDEPENDENT EXAMINER

Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19).

DESCRIPTION OF CHARITY’S TRUSTS AND OBJECTS

The governing document is a scheme dated 12 March 2009. The Park is held on trust for the recreation of the public as public walks or pleasure grounds or as an open space within the meaning of the Open Space Act 1906.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Graves Park is a charity and the sole Trustee is Sheffield City Council. The Charity Trustee Sub Committee is a standing sub committee of the Strategy and Resources Policy Committee. It has been established to take all decisions of the Council, including but not limited to disposal of and other dealings with charitable land.

Management of the park is the responsibility of the Councils’ Parks and Countryside service. Management and administrative decisions which are not decisions of the Council as Trustee, may be made, in accordance with the Council constitution delegations, by the Executive Director of Operational Services, the Director of Parks, Leisure and Libraries, or the head of Parks and Countryside service.

PUBLIC BENEFIT

The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of how the charity has carried out its activities for the public benefit are given in the section below.

OBJECTIVES AND ACTIVITIES

The object of the charity is the provision and maintenance of a park and recreation ground for use by the public with the object of improving their conditions of life. Graves Park is classified as a city park and a major visitor attraction with bowling greens, tennis courts, pitch and putt golf, cricket, football and a popular animal farm.

The charity operates for the benefit of the inhabitants of Sheffield without distinction of sex, race or political, religious or other opinions in a common effort to advance education, health and wellbeing and to provide facilities for recreation and other leisure time occupation with the object of improving the health and condition of life of the said inhabitants and, particularly of those who have need of such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES continued

The object of the charity is met by the following on-going activities:

The charity has sought to utilise its financial resources including grant funding from Sheffield City Council and other fund-raising activities to provide a high quality recreational site for the benefit of the residents of the city of Sheffield.

Graves Park and Graves Park Animal Farm’s annual assessment against the Green Flag criteria was carried out to determine current level of standard and to identify and implement incremental improvements.

Concessions in the park continue to run such as the land train, inflatable attractions and the Tree Amigos Christmas tree sales concession over at the Charles Ashmore side of the park.

Due to continued reduction in public finances and the consequential pressure on local authority budgets, the charity continues to review its fundraising activities to ensure improved security of, and increase in, financial resources available for its ongoing charitable activities.

ACHIEVEMENTS AND PERFORMANCE

Graves Park is important to many people both locally and from across Sheffield as a free to all city park and animal farm. It aims to enhance the lives of many people and is more critical now, following years of austerity, cuts in public funding and increasing community hardship following the pandemic. We continue to provide a large and increasing variety of facilities for people of all ages and backgrounds, supported by an extensive events programme throughout the year.

The park and animal farm are as busy as they have ever been with a high standard of visitor experience and many positive reviews for the farm and park.

In the last year the following work has taken place:

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

ACHIEVEMENTS AND PERFORMANCE Continued

The charity’s continued investment in park facilities and the provision of events and other visitor services ensures that the site remains a well-maintained, safe and welcoming environment for informal and formal recreation, and encourages increased use by the residents of the city, contributing to their health and well-being.

GROUPS WITH INTEREST IN THE PARK

There are 2 active Friends groups within the park, the Friends of Graves Park, and the Friends of Woodseats Playground. In 2021-22 the Friends of Graves Park purchased over 1,000 new roses for the Rose Garden which were planted by the Graves Park gardening team in early 2022. The Friends of Woodseats Playground have also been active and have secured over £15,000 which will be spent on a new piece of play equipment for the Woodseats playground which was installed in July 2022.

A working relationship has also been established with the Sheffield Royal Society of the Blind who would like to develop a sensory entrance to the Rose Garden and planning work for this has been ongoing from October 2021 and is due to be completed in Spring 2023.

EVENTS

There has been a fuller events program in 2021 as the restrictions necessitated by COVID have been lifted. The Animal Farm has held several extremely popular events including a Family Fun Day, Halloween pumpkin picking event and Christmas trail around the farm. Feedback from all events in the park has been extremely positive and a further increased program of events is planned for 2022 including a rebranded Highland Fling/Country Fair and Animal Farm Easter Events which have both not been held since 2018.

The following events took place during 21/22:

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

EVENTS Continued

Date EVENT APPROX
ATTENDANCE		 ORGANISATION
03/05/2021 Highland Fling- COVID CANCELLED NA Major Events
01/06/2021 Jessops Superheroes Scavenger Hunt(All June) 150 Sheffield Hospitals Charity
13/07/2021 Little Library& FamilyLearning 100 FamilyLearning- SCC
30/07/2021 Thunder Theme Park 500 International Funfairs
31/07/2021 Thunder Theme Park 500 International Funfairs
01/08/2021 Thunder Theme Park 500 International Funfairs
02/08/2021 Thunder Theme Park 500 International Funfairs
03/08/2021 Thunder Theme Park 500 International Funfairs
04/08/2021 Thunder Theme Park 500 International Funfairs
05/08/2021 Thunder Theme Park 500 International Funfairs
06/08/2021 Thunder Theme Park 500 International Funfairs
07/08/2021 Thunder Theme Park 500 International Funfairs
08/08/2021 Thunder Theme Park 500 International Funfairs
25/08/2021 FamilyFun Day 3000 Animal Farm
05/09/2021 Race for Life 4000 Cancer Research UK
12/09/2021 Morris Minor Owner's Club Day 400 BarnsleyMorris Minor Owners Club
20/10/2021 FamilyLearning 100 Family& CommunityLearningService
23/10/2021 Northern Athletics Cross CountryRelays 1000 Northern Athletics
25/10/2021 Halloween ‘pick apumpkin’ 10000 Animal Farm
06/12/2021 Christmas Trail and Santa’s Grotto 10000 Animal Farm
12/12/2021 SY XC League 4 race and Championships 400 Sheffield Schools Sports
12/12/2021 South Yorkshire Cross CountryLeague 300 South Yorkshire CountyAthletics Association
15/01/2022 SecondaryXC Champs 400 Sheffield Schools Sports
26/02/2022 PrimarySchools XC Champs 400 Sheffield Schools Sports

Future Plans

We will continue to upgrade the Animal Farm for all to benefit including:

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net expenditure of £88,127 (2021: Net income of £174,973) comprising grants received of £3,692 from Sheffield City Council (2021: £261,144) and depreciation of £91,819 (2021: £86,171).

The net reduction in Restricted Fund from 2020/2021 to 2021/2022 is as a result of the capital investment in assets being largely completed in 2020/2021.

Unrestricted funds - Net income of £11 (2021: £0). This includes interest received of £11 (2021: £0). The income from charitable activities was £325,316 (2021: £177,231), donations and gifts were £7,600 (2021: £10,812), revenue grant from the Countryside Agency was £16,865 (2021: £0) and interest received of £11 (Interest on Investments). There was charitable expenditure of £524,200 (2021: £475,036). The deficit was funded by the grant from Sheffield City Council of £174,420 (2021: £286,993).

There was an increase in expenditure on charitable activities of £49,164 in 21/22. This was as a result of activity generally normalising after the pandemic but most notably an increase of £29,637 (31%) on supplies and services costs and £12,975 (52%) on repairs & maintenance.

The supplies and services expenditure increased due to the Animal Farm activity increasing demand for stock such as toys and stationery (Toy purchases have increased 3 fold since 2019/2020). Events such as pumpkin picking, and easter egg hunts planned for April 2022 where supplies had to be purchased in advance all required additional purchases. Animal food costs have approximately doubled plus there were increasing veterinary bills.

Repairs and maintenance costs increased as a result of a new boiler and refurbishment work in the Park changing facilities.

The additional expenditure in 2021/2022 has been partially offset by additional rent and Animal Park sales income of £135,187. This is due to post pandemic activity returning to more normal levels and also new income streams being developed through the introduction of more diverse activities.

At 31 March 2022 the charity had total funds of £2,398,671 (2021: 2,486,787). These funds are mainly tied up in fixed assets and investments. Restricted funds of £2,398,225 (2021: £2,486,352) were held mainly as fixed assets. There are Investments of £11,948 (2021: £11,918).

There was investment income of £11 (2021: £0) and this has been transferred to the Designated Fund which now totals £446 and is available to spend in accordance with the Charity’s Trusts & Objectives.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

RESERVES POLICY

As the charity is managed and funded by the Council no specific charity reserves are deemed to be necessary, except for those reserves represented by fixed assets.

Annual revenue expenditure is generally greater than income and the variance is born by the Council and not carried forward into the next financial year.

This charity has specific monies invested in the Council’s internal investment fund. Interest is received half yearly on the monies invested. These investments form the restricted funds and any interest is used in line with the restrictions on the funds.

RISK MANAGEMENT

The charity is dependent for its day-to-day management upon Sheffield City Council. It is therefore considered expedient and cost effective for the charity to adopt the Council’s risk management policy and strategy, which it considers is a crucial part of the service planning process in highlighting key risks and how they affect the Council’s ability to deliver its service and how they will be managed. The Council has incorporated a formal approach to risk management in its day-to-day operations and has developed a toolkit to allow managers to identify risk, which would prevent them from achieving their objectives and to provide information and guidance on how these risks can be managed. The Council operates an Internal Insurance Account covering a variety of risks.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022

Trustees' responsibilities statement

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TRUSTEES

Sheffield City Council adopted a Committee system in May 2002. The current Trustees are listed on Pg 1.

Approved by the Trustees and signed on their behalf by:

Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee .

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF Trustees of Graves Park

I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have 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 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

........................................ Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP

Dated: 18-04-2023

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investments
10
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Total
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
2021/22
£
198,885
325,316
11
524,211
-
524,200
524,200
11
11
435
446		 Restricted
2021/22
£
3,692
-
-
3,692
-
91,819
91,819
(88,127)
(88,127)
2,486,352
2,398,225		 Total
2021/22
£
202,577
325,316
11
527,903
-
616,019
616,019
(88,116)
-
(88,116)
2,486,787
2,398,671		 Total
2020/21
£
558,949
177,231
-
736,180
-
561,207
561,207
174,973
-
174,973
2,311,814
2,486,787

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investments
10
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Total
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
2020/21
£
297,805
177,231
-
475,036
-
475,036
475,036
-
-
435
435		 Restricted
2020/21
£
261,144
-
-
261,144
-
86,171
86,171
174,973
174,973
2,311,379
2,486,352		 Total
2020/21
£
558,949
177,231
-
736,180
-
561,207
561,207
174,973
-
174,973
2,311,814
2,486,787		 Total
2019/20
£
272,017
247,821
215
520,053
14,615
568,366
582,981
(62,928)
-
(62,928)
2,374,742
2,311,814

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activites.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible fixed assets
9
Investments
10
Current assets
Debtors
11
Liabilities
Creditors falling due within one year
12
Net current assets
Net assets
The funds of the charity
Unrestricted income funds
13
Designated funds
15
Restricted income funds
14		 Unrestricted
2021/22
£
-
446
446
1,050
(1,050)
-
446
-
446
-
446		 Restricted
2021/22
£
2,386,307
11,918
2,398,225
-
2,398,225
-
2,398,225
2,398,225		 Total
2021/22
£
2,386,307
12,364
2,398,671
1,050
(1,050)
-
2,398,671
-
446
2,398,225
2,398,671		 Total
2020/21
£
2,474,434
12,353
2,486,787
1,350
(1,350)
-
2,486,787
-
435
2,486,352
2,486,787

Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1.

Approved by the Trustees and signed on their behalf by:

11/04/2023 Signed _____ Date _______

Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1. Accounting Polices

Graves Park is a registered charity in England. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are for the recreation of the public as public walks or pleasure grounds or as an open space.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared 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) effective on 1 January 2019 (Updated second edition – October 19), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

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 the Accounting and Reporting 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) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The principal accounting policies adopted in the preparation of the financial statements are as follows:

1.1 Fixed assets

Graves Park is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil.

Land and buildings have been valued at their deemed cost at the date of transition to SORP (FRS 102).

Other Plant and Equipment are carried at cost.

Expenditure on fixed assets is capitalised, provided that the fixed asset yields benefit to the charity and the services it provides are for a period of more than one year.

Assets have been reviewed for any impairment loss in respect of consumption of economic benefit.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.2 Depreciation

Depreciation is provided on fixed assets at rates calculated to write off the cost of the assets over their expected useful lives as follows:

1.3 Investments

Fund balances are invested internally with Sheffield City Council. Investments are held at market value.

1.4 Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

1.5 Income

Income from donations and grants, including capital grants, is included in income when it is probable that the income will be received, and is allocated to the appropriate fund.

Investment income is included when receivable.

Rental, events, activity and similar income is included when the event or function has taken place.

The cost of running the park is funded by Sheffield City Council. Annual revenue expenditure is generally greater than income and any variance is borne by the Council by way of a grant to the charity.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.6 Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, net of any VAT, which can be recovered as Sheffield City Council is the sole trustee and therefore has special status under s33 VAT Act 1994.

The main exception to this treatment is payments for such items as gas and electricity are charged at the date of the meter reading rather than being apportioned between years. This policy is applied consistently each year.

Expenditure has been allocated to the activities to which it is directly attributable.

Cost of raising funds

The cost of generating any external funding, such as grant applications and events, is attributable to the time of Sheffield City Council officers who work on a range of projects including the charity. As such it is not possible to accurately apportion the cost of this to the charity so no charge is included in the accounts.

Charitable activities

Charitable activities are set out within the charitable deeds and represent the costs associated with the running and maintenance of the park.

Governance costs

Independent examination costs and finance officer costs are charged to the charity. The Council currently absorbs the cost of other officers’ time. This policy is kept under review.

Staff costs

The staff who work for the charity are employed by Sheffield City Council, and are subject to the terms and conditions of that organisation. The costs of such staff are recharged to the charity. Full disclosure of the relevant staff costs and numbers is provided in the notes to these financial statements.

Pensions

City Council employees may participate in the Local Government Superannuation Scheme, which provides members with defined benefits related to pay and service. The City Council makes payments for this group of employees to the South Yorkshire Pensions Authority, which administers pension arrangements on behalf of Sheffield City Council and the other local authorities in the South Yorkshire area. The City Council bears any deficit or surplus on the scheme and does not charge this to the charity.

1.7 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

1.8 Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.9 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 income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

2. Donations and legacies

2.a Donations and gifts
Unrestricted:
General (Animal Park)
Friends of Group
2.b Grants
Unrestricted:
Countryside Agency
Sheffield City Council - revenue
Restricted:
Sheffield City Council
Lawn Tennis Association
Chantry cottage
Pocket Park		 2021/22
£
6,980
620
7,600
16,865
174,420
191,285
3,692
-
-
3,692
202,577		 2020/21
£
6,682
4,130
10,812
-
286,993
286,993
261,144
-
-
261,144
558,949

If expenditure is greater than income the variance is borne by Sheffield City Council and not brought forward into the next financial year.

3. Income from charitable activities
Unrestricted:
Outdoor sports
Bowls
Mini Golf
Tennis
Events
Memorial benches & tree planting
Miscellaneous
Reimbursement of legal fees
Rents
Animal Park income (excl donations and sponsors)
Car parking income
4. Analysis of expenditure on raising funds
Unrestricted:
Events		 2021/22
£
7,280
-
-
-
-
1,400
1,319
-
153,068
100,106
62,142
325,316
2021/22
£
-
-		 2020/21
£
1,146
-
-
-
-
-
5,186
-
109,377
8,610
52,912
177,231
2020/21
£
-
-

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DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

5. Analysis of expenditure on charitable activities
Unrestricted:
Employees
Rangers
Repairs and maintenance
Grounds maintenance
Tree work
Playground refurbishment and maintenance
Electricity
Gas
Water and sewage
Telephones
Supplies and services
Transport
Legal fees
Governance costs
Restricted:
Supplies and services (Restricted)
Depreciation
6. Governance costs
Managing and administration:
Independent examination fees
Finance office costs
7. Staff costs and trustees' remuneration
Salaries
Social security costs
Pension
Other		 Park
Animal
Operation
Park
Costs
Costs
£
£
150,717
133,583
-
27,790
10,189
41,322
9,025
1,050
8,912
2,066
3,983
2,734
3,005
1,381
37
-
12,132
113,884
-
-
-
-
2,390
260,130
264,070
-
-
84,460
7,359
344,590
271,429		 Total
2021/22

£
284,300
-
37,979
41,322
10,075
8,912
6,049
2,734
4,386
37
126,016
-
-
2,390
524,200
-
91,819
616,019
2021/22
£
1,050
1,340
2,390
2021/22
£
212,362
23,360
40,349
8,230
284,300		 Total
2020/21
£
278,248
-
25,004
39,701
12,275
5,041
5,308
1,615
5,596
3,192
96,379
-
28
2,649
475,036
-
86,171
561,207
2020/21
£
1,350
1,299
2,649
2020/21
£
213,574
18,522
39,166
6,986
278,248

Staff costs in 2021/22 comprise of Operations £150,717 (2021 £135,255) and Animal Park £133,583 (2021: £142,993).

No employee received remuneration of over £60,000 during the year (2021 - None).

Trustees received no remuneration (2021 - £Nil) and were not reimbursed for any of their expenses during the year.

8. Staff numbers
The average number of employees during the year was		 2021/22
Number
10		 2020/21
Number
10

18

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

9. Fixed assets
At cost
At 1 April 2021
Additions
Transfers
At 31 March 2022
Accumulated depreciation
At 1 April 2021
Charge in the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Plant
Assets under
Land &
Norton Lane
Council
Equipment &
Construction
buildings
Nurseries
dwellings
Infrastructure
Total
£
£
£
£
£
-
2,382,053
465,039
300,000
46,343
3,193,435
3,692
-
-
-
-
3,692
(3,692)
3,692
-
-
-
-
-
2,385,745
465,039
300,000
46,343
3,197,127
-
399,834
212,824
60,000
46,343
719,001
-
57,716
26,603
7,500
-
91,819
-
457,550
239,427
67,500
46,343
810,820
-
1,928,195
225,612
232,500
-
2,386,307
-
1,982,219
252,215
240,000
-
2,474,434

Norton Lane Nurseries, Council Dwellings and various land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation in 2012/13 by the Asset Partnership Services team of Kier who are MRICS qualified.

10. Investments

At market value
At 1 April 2021
Income
Interest received
Draw down
At 31 March 2022		 2021/22
£
12,353
-
11
-
12,364

The charity funds are invested in Sheffield City Council's Consolidated Loans Funds (interest paid half yearly). Market value is the same as historical cost.

11. Debtors
Amounts due from Sheffield City Council
Trade Debtor
12. Creditors: amounts falling due within one year
Independent examination fees
Deferred income		 2021/22
£
1,050
-
1,050
2021/22
£
1,050
-
1,050		 2020/21
£
1,350
-
1,350
2020/21
£
1,350
-
1,350

19

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

General
13. Unrestricted funds Funds Total
£
Balance at 1 April 2021 - -
Income 524,200 524,200
Expenditure (524,200) (524,200)
Transfer - -
Balance at 31 March 2022 - -
Unrestricted funds - prior year General Funds Total
Balance at 1 April 2020 £
-		 £
-
Income 475,036 475,036
Expenditure (475,036) (475,036)
Transfer - -
Balance at 31 March 2021 - -
Squirrel Café Chantry Cobnar Pocket Land & Assets under Council Total
Fund Fund Cottage Cottage Park Buildings construction Dwellings Funds
14. Restricted funds £ £ £ £ £ £ £ £ £
Balance at 1 April 2021 127 1,088 157 10,545 1 2,234,434 - 240,000 2,486,352
Income 1 10 3,692 3,703
Expenditure and depreciation (84,319) (7,500) (91,819)
Realised gain on disposal of fixed assets -
Transfer - -
Transfer 3,692 (3,692) -
Transfer to Designated Funds (1) (10) (11)
Balance at 31 March 2022 127 1,088 157 10,545 1 2,153,807 - 232,500 2,398,225

Squirrel Fund

This fund comprises a donation made for the specific purpose of feeding squirrels.

Café Fund

The fund comprises a donation made for the specific purpose of providing toys for use in the Rose Garden Café.

Cobnar Cottage

This fund comprises of income received relating to the sale of Cobnar Cottage, Cobnar Road.

Chantry Cottage

This fund comprises of income received relating to a 125 year lease of land adjacent to Chantry Cottage, Norton Lane.

Assets under Construction

This fund relates to ongoing capital work for pathworks and installation of 2 cricket pitches which have been completed in year. The refurbishment of tennis courts and other improvements in the park are on-going.

Land & Buildings

This fund comprises a combination of various grants and donations made for the specific purpose of several capital projects including the Norton Lane Nursery, Rose Garden Café, the Sports Pavillion, the Cobnar Road Playground and the Inclusive Play area.

Council Dwellings

This fund comprises of revalued values of 2 residential properties: The Bungalow, Derbyshire Lane and the Lodge, Charles Ashmore Road.

20

DocuSign Envelope ID: ECCFA410-6168-42DC-8CB5-41F7E47669DE

GRAVES PARK

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022

Squirrel Café Chantry Cobnar Pocket Land & Assets under Council Total
Fund Fund Cottage Cottage Park Buildings construction Dwellings Funds
14. Restricted funds £ £ £ £ £ £ £ £ £
Balance at 1 April 2020 127 1,088 157 10,545 1 2,051,961 - 247,500 2,311,379
Income 261,144 261,144
Expenditure and depreciation (78,671) (7,500) (86,171)
Realised gain on disposal of fixed assets -
Transfer - -
Transfer 261,144 (261,144) -
Transfer to Designated Funds -
Balance at 31 March 2021 127 1,088 157 10,545 1 2,234,434 - 240,000 2,486,352
15. Designated funds
Balance at 1 April 2021
Transfer
Balance at 31 March 2022		 2021/22
£
435
11
446

Designated funds represent accumulated interest in the investments. The trustees have set this money aside for one-off projects in the future, rather than for ongoing running costs.

16. Analysis of net assets between funds

16. Analysis of net assets between funds
Fixed asset investments
Current assets
Creditors due within one year
Analysis of net assets between funds - prior year
Fixed asset investments
Current assets
Creditors due within one year		 Unrestricted
funds
Restricted
funds
Total funds
£
£
£
446
2,398,225
2,398,671
1,050
-
1,050
(1,050)
-
(1,050)
446
2,398,225
2,398,671
Unrestricted
funds
Restricted
funds
Total funds
£
£
£
435
2,486,352
2,486,787
1,350
-
1,350
(1,350)
-
(1,350)
435
2,486,352
2,486,787

17. Ultimate Controlling Party

The ultimate controlling party is the sole trustee, Sheffield City Council.

18. Related parties

The charity has a very close relationship with Sheffield City Council who is the sole trustee and provides the balance of funding not provided elsewhere on an annual basis, to enable the charity to carry out its charitable objectives. The amount of funding provided by Sheffield City Council during the year is £178,112 (2021: £548,137) of which £3,692 was towards capital projects (2021 £261,144). At the year end £1,050 was owed by Sheffield City Council (2021: £1,350).

19. Post balance sheet events

The Rose Garden Café in Graves Park was closed on 27 July 2022 following a structural survey highlighting concerns about the building’s structural stability. After some temporary structural repairs were carried out, it was reopened on 20th December 2022 to the public. An options appraisal concerning the current costs of permanently repairing the structure is due to be presented to the Charity Trustees Sub-committee on 21st March 2023.

No adjustment has been made to the asset value in the accounts due to the uncertainty over the works that need to be carried out. More information can be found out about this through the Sheffield City Council web page: https://www.sheffield.gov.uk/parks-sport-recreation/rose-garden-cafe-closure

The Café building has a net book value on the fixed asset register of £143,375 as of 31[st] March 2022.

21