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**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|
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## **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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## **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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## **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:
- Provision of a well-maintained, safe and welcoming environment for casual recreation.
- Provision of sports facilities for both formal and informal use by residents from across the city.
- Provision of visitor services including Café.
- Provision of a farm as a visitor attraction and educational resource.
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:
- Security CCTV installed around the Animal Farm
- New Shelter for Animal Farm Shire Horse
- A number of memorial trees planted
- 1 new bench in the park
- 2 new bins in the park
- 2 new goalposts installed to replace older posts that had become rusted and unsightly
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## **GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022**
## **ACHIEVEMENTS AND PERFORMANCE Continued**
- Additional temporary bins for events that can be re-used as events become busier than ever
- Improvements to the sand pit in the playground at the Rose Garden including new sand and posts
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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## **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:
- Add new litter bins and facilitate better litter provision for events and weekends when the park is busiest.
- Work in partnership with the Friends of Graves Park to enhance the park including a project to work with additional community groups to remove Himalayan Balsam, a non-native, invasive species along the watercourses in the park
- Support the Friends of Woodseats Playground to install equipment they are able to purchase through grant funding
- Continue to work in partnership with the Sheffield Royal Society of the Blind to develop a sensory entrance to the Rose Garden
- Investigate ways to improve facilities in the park including the potential to run additional portable food concessions
- Continue to improve enrichment in the animal enclosures at the Animal Farm to enhance both animal welfare and visitor experience.
- Develop income generation activities at the Animal Farm to offset increasing costs of welfare and utilities while continuing to enhance the visitor experience.
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## **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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## **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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## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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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## **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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## **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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## **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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## **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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## **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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## **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:
- Land and previously revalued buildings are not depreciated.
- Park buildings have been depreciated on a straight line basis over 10, 15 or 40 years, commencing on the transfer from assets under construction.
- Plant, furniture and equipment have been depreciated on a straight line basis over 10 years.
- Depreciation is not provided on assets under construction.
## **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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## **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.
15
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.
16
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
£
-
-|
|---|---|---|
17
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|
|---|---|---|
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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|
|---|---|---|
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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.
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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