OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

GRAVES PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

REGISTERED CHARITY NUMBER 510841

GRAVES PARK

CONTENTS

Page
Reference and administrative details 1
Trustees’ report 2 - 9
Independent examiner’s Report 10
Statement of financial activities 11 - 12
Balance sheet 13
Statement of cash flows 14
Accounting Policies 15 - 18
Notes to the financial statements 19 - 23

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 Ian Auckland (Chair) Cllr Zahira Naz (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Richard Williams Cllr Fran Belbin

PRINCIPAL ADDRESS

Sheffield City Council Parks and Countryside Centre in the Park Guildford Avenue Sheffield S2 2PL

INDEPENDENT EXAMINER

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

1

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2023. 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 are not decisions of the Council as Trustee, and are made by the Executive Director of Neighbourhood Services, the Director of Parks, Leisure and Libraries, or the Head of Parks and Countryside service in accordance with the Arrangements for the Delegation of Functions To Officers, under part 3 of the Council’s constitution.

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.

2

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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 and cost of living increases. 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 marked increase of visitors over the summer months since the COVID pandemic in 2020-21. This does bring increased pressure in terms of litter and park maintenance, but the park strives to maintain a high standard of visitor experience and has received many positive reviews throughout the year.

In the last year the following work has taken place:

3

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

ACHIEVEMENTS AND PERFORMANCE Continued

The events that the park holds are becoming increasingly popular and encourage increased use by the residents of the city, who may not have visited the park before. This means that the park is busier than ever before with more residents discovering the space and enjoying the use of it as a recreational space.

The charity continues to invest in the park facilities, with a program of path repairs ongoing and repairs to some of the dry-stone walling around the park that had become unstable and collapsed. Unfortunately, the Rose Garden Café was closed on 27 July 2022 following a structural survey highlighting concerns about the building’s structural stability. Several inspections and feasibility studies were carried out by both Sheffield City Council and an independent consultant employed by the Friends of Graves Park. Temporary scaffolding was put in place to secure the building and it was re-opened to the public in December 2022 predominantly for takeaway due to the space that the scaffolding structure takes up inside the facility. Costings for future work on the café are being gathered with public consultation and a decision on the café’s future to be made in 2023-4.

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 2022-23 the Friends of Graves Park have been awarded £140,000 lottery funding to deliver the “Finding Lost Norton Park: Digging Deeper for All” project. This project will look at the heritage of the park including the archaeology, ecology and history of the park, involving several community and school groups and discovering more information about the park’s history. The Friends group continue to maintain an arboretum and ‘garden’ area of the park to an extremely high standard as well as working to suppress the invasive Himalayan Balsam species growing along watercourses flowing through the park.

The Friends of Woodseats Playground were successful in securing over £15,000 of funding in 2021-22 which was spent on a new piece of play equipment for the Woodseats playground which installed in July 2022. They are now looking to develop the playground further by breaking out sections of tarmac and creating a more naturalised landscape and sensory areas with additional benches and play equipment for younger children.

The Sheffield Royal Society of the Blind started to develop a sensory entrance to the Rose Garden with support from park staff with two new planters installed, a pillar at the entrance re-pointed and planting work completed this year. Additional planting, installation of a pergola and two benches will be completed in Spring/Summer 2023.

4

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

EVENTS

The events in 22/23 have been even more popular than in 21/22 with huge numbers of visitors for events organised by Sheffield City Council including the Animal Farm’s Easter Event, the Country Fair and the farm’s Halloween event. Events organised by external parties and run in the park have also been very popular including the ‘Pretty Muddy Race for Life’ organised by Cancer Research UK as well as the return of prestigious cross country events run in the park over winter.

The following events took place during 22/23:

5

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

Future Plans

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

6

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net expenditure of £85,847 (21/22: Net expenditure of £88,127) comprising grants received of £5,971 from Sheffield City Council (21/22: £3,692) and Depreciation of £91,818 (21/22: £91,819).

Unrestricted funds - Net income of £270 (21/22: £11). The income from charitable activities was £447,526 (21/22: £325,316), donations and gifts were £1,836 (21/22: £7,600), and interest received of £270 (Interest on Investments). There was charitable expenditure of £629,897 (21/22: £524,200). The deficit was funded by the grant from Sheffield City Council of £199,087 (21/22: £174,420).

There was an increase in expenditure on charitable activities of £105,697 in 22/23. This was as a result of activity generally normalising after the pandemic but most notably an increase of £30,863 (24%) on supplies and services costs and £33,570 (333%) increase on tree work due to adverse weather conditions and tree disease.

The supplies and services expenditure increased again this year due to the Animal Farm activity continuing to increase, meaning more demand for stock such as toys and stationery. Animal food costs and veterinary bills have increased with inflation.

The additional expenditure in 2022/2023 has been partially offset by an increase in Animal Park income of £91,078. This is due to the number of visitors continuing to increase as we have a lockdown-free year.

At 31 March 2023 the charity had total funds of £2,313,094 (21/22: £2,398,671). These funds are mainly tied up in fixed assets and investments. Restricted funds of £2,312,378 (21/22: £2,398,225) were held mainly as fixed assets. There are Investments of £12,634 (21/22: £12,364).

There was investment income of £270 (21/22: £11) and this has been transferred to the Designated Fund which now totals £716 and is available to spend in accordance with the Charity’s Trusts & Objectives.

7

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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.

8

GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2023

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 2022. The current Trustees are listed on Pg 1.

Approved by the Trustees and signed on their behalf by:

Signed

Date 25/01/2024

Cllr Ian Auckland – Chair of the Charity Trustee Sub Committee .

9

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 2023.

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: 25/01/2024

10

GRAVES PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

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
2022/23
£
201,648
447,526
270
649,444
19,277
629,897
649,173
271
270
446
716		 Restricted
2022/23
£
5,971
-
-
5,971
-
91,818
91,818
(85,847)
(85,847)
2,398,225
2,312,378		 Total
2022/23
£
207,619
447,526
270
655,416
19,277
721,715
740,992
(85,577)
-
(85,577)
2,398,671
2,313,094		 Total
2021/22
£
202,577
325,316
11
527,903
-
616,019
616,019
(88,116)
-
(88,116)
2,486,787
2,398,671

11

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

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activites.

12

GRAVES PARK BALANCE SHEET AS AT 31 MARCH 2023

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
2022/23
£
-
716
716
1,055
(1,055)
-
716
716
-
716		 Restricted
2022/23
£
2,300,460
11,918
2,312,378
-
2,312,378
-
2,312,378
2,312,378		 Total
2022/23
£
2,300,460
12,634
2,313,094
1,055
(1,055)
-
2,313,094
-
716
2,312,378
2,313,094		 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

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:

Signed Date 25/01/2024

Cllr Ian Auckland - Chair of the Charity Trustee Sub-Committee

13

GRAVES PARK STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2023

Net expenditure
Non-cash movements: -
Depreciation
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash inflow from operations
Returns on investments
Interest received
Capital expenditure
Payment to acquire tangible fixed assets
Increase in Consolidated Loans Fund balance		 £
£
£
£
(85,847)
(88,127)
91,818
91,819
(5)
300
5
(300)
91,818
91,819
5,971
3,692
270
11
(5,971)
(3,692)
270
11
2022/23
2021/22

14

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

15

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

16

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

17

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

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.

18

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

2. Donations and legacies

2.a Donations and gifts
Unrestricted:
General (Animal Park)
Friends of Group
2.b Grants
Unrestricted:
Countryside Agency
S106 maintenance
Sheffield City Council - revenue
Restricted:
Sheffield City Council - Capital receipts		 2022/23
£
1,836
-
1,836
-
725
199,087
199,812
5,971
5,971
207,619		 2021/22
£
6,980
620
7,600
16,865
-
174,420
191,285
3,692
3,692
202,577

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
Events
Memorial benches & tree planting
Miscellaneous
Rents
Animal Park income (excl donations and sponsors)
Car parking income
4. Analysis of expenditure on raising funds
Unrestricted:
Events		 2022/23
£
7,345
27,056
3,082
1,570
159,421
191,184
57,867
447,526
2022/23
£
19,277
19,277		 2021/22
£
7,280
-
1,400
1,319
153,068
100,106
62,142
325,316
2021/22
£
-
-

19

GRAVES PARK

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

5. Analysis of expenditure on charitable activities
Unrestricted:
Employees
Repairs and maintenance
Grounds maintenance
Tree work
Playground refurbishment and maintenance
Electricity
Gas
Water and sewage
Telephones
Supplies and services
Governance costs
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
Farm
Costs
Costs
£
£
138,500
164,775
39,053
6,390
50,074
43,645
-
4,831
3,952
9,646
4,281
2,972
1,683
37
714
17,279
139,600
2,466
301,865
297,092
84,459
7,359
386,325
304,451		 Total
2022/23

£
303,274
45,442
50,074
43,645
4,831
13,598
4,281
4,655
752
156,879
2,466
629,897
91,818
721,715
2022/23
£
1,055
1,411
2,466
2022/23
£
218,001
21,658
44,778
18,837
303,274		 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
91,818
616,018
2021/22
£
1,050
1,340
2,390
2021/22
£
212,362
23,360
40,349
8,230
284,300

Staff costs in 2022/23 comprise of Operations £138,500 (21/22 £150,717) and Animal Farm £163,523 (21/22 £143,245 ).

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		 2022/23
Number
9		 2021/22
Number
10

20

GRAVES PARK

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

9. Fixed assets
At cost
At 1 April 2022
Additions
Transfers
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge in the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Plant
Assets under
Land &
Norton Lane
Council
Equipment &
Construction
buildings
Nurseries
dwellings
Infrastructure
Total
£
£
£
£
£
-
2,385,745
465,039
300,000
46,343
3,197,127
5,971
-
-
-
5,971
(5,971)
5,885
86
-
-
(0)
-
2,391,630
465,125
300,000
46,343
3,203,098
-
457,550
239,427
67,500
46,343
810,820
-
57,716
26,603
7,500
91,818
-
515,266
266,030
75,000
46,343
902,638
-
1,876,364
199,095
225,000
-
2,300,460
-
1,928,195
225,612
232,500
-
2,386,307

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.

On 18 October 2023 the Charity Sub-committee approved for Sheffield City Council, in partnership with stakeholders, to develop a strategy for the restoration of the Rose Garden Café building.

At the Charity Sub-Committee on 18 October 2023, Councillors approved the following recommendations:

The proposal for Sheffield City Council, in partnership with stakeholders, to develop a strategy for the restoration of the Rose Garden Café building (options 2A and 2B).

The Rose Garden Café Partnership, once established, will create an action plan to develop the strategy for restoration, which will include defining the following:

a framework for a proportionate public consultation on the Rose Garden Café establish funding sources to meet the structural remediation and building refurbishment works agree a strategy for public communication

Sheffield City Council funding sources have concluded that existing funds cannot currently meet the full cost of the design options and therefore a mixed funding model is required, various options are therefore being looked at.

10. Investments

At market value
At 1 April 2022
Income
Interest received
Draw down
At 31 March 2023		 2022/23
£
12,364
-
270
-
12,634

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
12. Creditors: amounts falling due within one year
Independent examination fees		 2022/23
£
1,055
1,055
2022/23
£
1,055
1,055		 2021/22
£
1,050
1,050
2021/22
£
1,050
1,050

21

GRAVES PARK

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
13. Unrestricted funds General Funds Total
£
Balance at 1 April 2022 - -
Income 618,234 618,234
Expenditure (598,958) (598,958)
Transfer - -
Balance at 31 March 2023 19,277 19,277
Unrestricted funds - prior year General Funds Total
£ £
Balance at 1 April 2021 - -
Income 524,200 524,200
Expenditure (524,200) (524,200)
Transfer - -
Balance at 31 March 2022 - -
----- End of picture text -----

14. Restricted funds
Balance at 1 April 2022
Income
Expenditure and depreciation
Realised gain on disposal of fixed assets
Transfer
Transfer to Designated Funds
Balance at 31 March 2023		 Squirrel
Café
Chantry
Cobnar
Pocket
Land &
Assets under
Council
Total
Fund
Fund
Cottage
Cottage
Park
Buildings
Construction
Dwellings
Funds
£
£
£
£
£
£
£
£
£
127
1,088
157
10,545
1
2,153,807
-
232,500
2,398,225
3
28
8
229
-
5,971
6,239
(84,318)
(7,500)
(91,818)
-
5,971
(5,971)
-
(3)
(28)
(8)
(229)
(268)
127
1,088
157
10,545
1
2,075,460
-
225,000
2,312,378

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. In particular this year considerable work on high security animal fencing at the Animal Farm and Park resurfacing.

Council Dwellings

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

22

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

15. Designated funds

Balance at 1 April 2022 Transfer

Balance at 31 March 2023

2022/23 £ 446 270 716

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
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
£
£
£
716
2,312,378
2,313,094
1,055
-
1,055
(1,055)
-
(1,055)
716
2,312,378
2,313,094
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

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 £205,058 (21/22: £178,112) of which £5,971 was towards capital projects (21/22 £3,692). At the year end £1,055 was owed by Sheffield City Council (21/22: £1,050)

23