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2024-03-31-accounts

GRAVES PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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 Richard Williams (Chair) Cllr Fran Belbin (Deputy Chair) Cllr Christine Gilligan Kubo (Spokesperson) Cllr Mike Chaplin Cllr Kurtis Crossland

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 2024

The trustees present their report together with the financial statements of the charity for the year ended 31 March 2024. 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 Leaders’ Scheme of Delegation, by the Executive Director of Neighbourhood 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 2024

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.

The Rose Garden Café is currently only partially open for take away due to concerns regarding the structural stability of the front wall and scaffolding remains in place in the main body of the café with a walk-through service only operating. Concessions in the park continue to run such as the land train, inflatable attractions, mobile catering for coffee snacks and ice cream as well as 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 as many people as possible with provision of green space but also in terms of activities on offer and things to see and do. We continue to provide a large and variety of facilities for people of all ages. This includes sports facilities such as a pitch and putt facility (unmanned, but still maintained), bowling green, three cricket pitches, 4 marked football pitches and several unmarked kickabout pitches, and tennis courts. We also have animal paddocks in the Animal Farm and wider park for people to see and interact with farm animals. We also provide an extensive events programme throughout the year run by the Animal Farm, Sheffield Council Major Events Team and also through partnership with charities, community groups and commercial events providers.

The park and animal farm continue to be extremely busy. Additional pressure has been placed on litter management in the park and we continue to increase bin provision both in permanent bins as well as temporary ‘Euro bins’ placed on the main field in the park form May – September.

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GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

ACHIEVEMENTS AND PERFORMANCE Continued

We continue to adapt to environmental challenges such as increased rainfall and flooding in the park and we have started work de-silting the stream at the bottom of the park with more work planned on this for 2024/25.

We have also lost a number of mature trees due in part to diseases like Ash die-back, but also due to exceptionally high winds and storm conditions. We have lost a beautiful ‘lone tree’ in the park, and the outpouring of grief and memories for this tree on social media and in person around the park has demonstrated the strong sense of ownership and belonging people associate with the park. We have made-safe but not removed the body of the tree, and plan to create a sculpture to honour people’s association with this tree and the park in general in 2024.

In response to climate change and the Nature Emergency the park no longer uses glysophate-based weed killer (since 2021/22). This is a step forwards for biodiversity in the park but does mean that we need to undertake more grass strimming and weeding throughout the year. We have undertaken a mulching program to combat this.

In the last year the following work has taken place:

At the Animal Farm, we have continued to build on previous years’ successes including many popular, and now annual events such as ‘Sheffield’s Biggest Easter Egg Hunt’, Pumpkin Picking Halloween event, ‘Dino Week’ and a program of themed weeks throughout the 6-weeks holidays. We were also able to offer more experiences with our animals such as llama trekking, lamb bottle feeding to provide a more interactive and educational experience at the farm as well as generating additional income for the charity. A ‘contactless’ donation point was installed at the farm in August 2023 which is averaging an income of £60 per week. We were also able to welcome over 20 school groups to the Animal Farm with a range of guided, unguided and interactive session options as well as the provision of a ‘classroom barn’ for hire. Going forward, the farm aims to keep an extremely high animal welfare standard; provide an outstanding visitor experience including popular program of events; and reduce operational costs and increase income into the charity.

There have been considerable challenges in park maintenance both at the Rose Garden Café, noted in the 2023/4 report and in other structures around the park including damage to walls around the park during storms caused by tree-fall and a repair. The café continues to be open for takeaway only, with investigations into the lean on the front wall ongoing to establish how to best restore it.

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GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

A public consultation will be undertaken in April 2024 to establish what people want from the café in the park for the future so that we can restore and refurbish it appropriately. We are acutely aware of the historic nature of many structures in the park and their heritage value. Unfortunately the repair to one of the structures in the park, a stone bridge was carried out inappropriately with modern cement. This will be rectified by a historically sensitive restoration in May 2024, and highlights the importance of

recording the historic importance of features in the park. This work is extremely important and the Friends of Graves Park have been undertaking a £142,770 project into the history, ecology and archaeology of the park that has, and continues to provide fascinating insight into the park and its past.

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. As mentioned, the Friends of Graves Park was awarded £142,770 lottery funding to deliver the “Finding Lost Norton Park: Digging Deeper for All” project which has made some fascinating discoveries, and engaged many local residents and visitors to the park including some very enthusiastic school groups! Further information - and results of the project can be found at https://friendsofgravespark.org/home page/digging-deeper-for-all/. The Friends group continue to maintain an arboretum and ‘garden’ area of the park to an extremely high standard.

The Friends of Woodseats Playground helped to write a successful bid for £70,187 to the Veolia Environmental Trust to make incremental improvements to the playground including improved picnic area, play equipment and re-landscaping old, cracked tarmac with biodiverse meadow planting. The group is an active presence in Woodseats with regular ‘dig days’ to support playground maintenance and fundraising activities such as tabletop plant sales and trails around the local area.

The Sheffield Royal Society of the Blind have continued to develop a sensory entrance to the Rose Garden with support from park staff with new benches, stone sculptures and a sign added in 2023. Two bug hotels and a ‘launch event’ will be held in Spring/Summer 2024.

We have worked collaboratively with several corporate groups in the park in 2023/4 including the Environment Agency, Santander, the Centre for Health and Disability Assessments and also local scout and church groups in both the Animal Farm and wider park. These groups have helped our staff undertake a number of projects including:

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GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

GROUPS WITH INTEREST IN THE PARK (continued)

The Trustees have agreed to restore and refurbish the Rose Garden Café, but there is a general understanding that the current charity finances will not stretch to cover the full cost of repairs and refurbishment to maintain an appropriate facility in the park. Therefore, the Rose Garden Café partnership has been established as a collaboration between Sheffield City Council, the Save the Rose Garden Café campaign and the Friends of Graves Park. The partnership will establish the root cause of structural issues, identify and apply for funding, and instruct works to restore and refurbish the café so that it will be a appropriate facility to meet the needs of park users. This is an ongoing piece of work with structural surveys commissioned and a public consultation planned for April 2024 so that work can begin on a design and funding can be sought in 2024 to get the café refurbished and fully operational as soon as possible.

EVENTS

The events in 2023 have been slightly hampered by weather and limited car parking proving an ongoing challenge for the park, but this has not deterred thousands of visitors from visiting. Some have visited us for the first time, but many now attend regularly due to a positive experience of previous events in the park, or because they have ‘rediscovered’ the park by attending an event. We are aware of the friction that can be caused between local residents and visitors during busy events so we will continue to investigate ways that car parking, litter, and visitor management can be improved during busy periods.

The following events took place during 23/24:

Date EVENT
 APPROX ATTENDANCE
ORGANISATION
01/05/2023 Graves Park CountryShow 10000 Major Events
14/05/2023 Morris Owners Club Car Show 400 Morris Minor Owners Club - BarnsleyBranch
09/06/2023 Race for Life set up 0 Race for Life
10/06/2023 Race for Life PrettyMuddy 2000 Race for Life
11/06/2023 Race For Life 2000 Race for Life
27/06/2023 FamilyLearning/FACES event 50 SCC FamilyLearning
04/08/2023 Thunder Fun Fair 750 International Funfairs
05/08/2023 Thunder Fun Fair 750 International Funfairs
06/08/2023 Thunder Fun Fair 750 International Funfairs
06/08/2023 Thunder Fun Fair 750 International Funfairs
07/08/2023 Thunder Fun Fair 750 International Funfairs
08/08/2023 Thunder Fun Fair 750 International Funfairs
09/08/2023 Thunder Fun Fair 750 International Funfairs
10/08/2023 Thunder Fun Fair 750 International Funfairs
11/08/2023 Thunder Fun Fair 750 International Funfairs
12/08/2023 Thunder Fun Fair 750 International Funfairs
15/10/2023 Jessops Bereavement Walk 50 Sheffield Hospital Charity
29/11/2023 SYO Club Night 80 SYO
10/12/2023 South Yorks Cross Country 450 SY Athletics
17/12/2023 cyclow cross 100 Cyclo Cross
13/01/2024 Sheffield Schools Cross Country 400 SFSS
24/02/2024 Sheffield Schools Cross Country 400 SFSS

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GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

Future Plans

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

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net expenditure of £92,944 (22/23: Net expenditure of £85,847) comprising grants received of £0 from Sheffield City Council (22/23: £5,971) and Depreciation of £92,944 (22/23: £91,818).

The revaluation of assets this year showed an increase in value of £280,724. The majority of this is on the Council Dwellings.

Unrestricted funds - Net income of £631 (22/23: £271). The income from charitable activities was £412,252 (22/23: £447,526), donations and legacies were £315,557 (22/23: £201,648), and interest received of £631 (Interest on Investments). There was charitable expenditure of £709,354 (22/23: £629,897[). ] The deficit was funded by the grant from Sheffield City Council of £291,126 (22/23: £199,087).

The increase in Sheffield City Council grant of £92,039 has contributed to covering a reduction in rental income from the Rose Garden Café and increased costs as a result of including the Norton Nursery costs this year. In addition there was a general increase in running and feeding costs.

The additional expenditure in 2023/24 has been partially offset by an increase in Animal Park income to £214,916 (22/23: £191,184). This is due to the number of visitors continuing to increase demand.

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GRAVES PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

FINANCIAL REVIEW AND FUNDING (continued)

At 31 March 2024 the charity had total funds of £2,501,348 (22/23: £2,313,094). These funds are mainly tied up in fixed assets and investments on the Restricted fund of £2,219,276 (22/23: £2,312,378). There are Investments of £13,109 (22/23: £12,634).

There was investment income in the year of £631 (22/23: £270) and this has been transferred to the Designated Fund which now totals £1,348 and is available to spend in accordance with the Charity’s Trusts & Objectives.

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 borne 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 2024

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:

Date: 23/01/2025

Cllr Richard Williams – 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 2024.

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: 29/01/2025

10

GRAVES PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investments
10
Total
Expenditure on:
Raising funds
4
Charitable activities
5 / 14
Total
Net income/(expenditure)
Transfer between funds
Other recognised gains / (Losses)
Gains / (Losses) on revaluation of fixed assets
9
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
2023/24
£
315,557
412,252
631
728,440
18,455
709,354
727,809
631
-
-
631
717
1,348		 Restricted
2023/24
£
-
-
-
-
92,944
92,944
(92,944)
-
280,567
187,623
2,312,377
2,500,000		 Total
2023/24
£
315,557
412,252
631
728,440
18,455
802,298
820,753
(92,313)
-
280,567
188,254
2,313,094
2,501,348		 Total
2022/23
£
207,619
447,526
270
655,416
19,277
721,715
740,992
(85,577)
-
561,134
(85,577)
2,398,671
2,313,094

11

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
717		 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

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 2024

Unrestricted Restricted Total Total
2023/24 2023/24 2023/24 2022/23
Note £ £ £ £
Fixed assets
Tangible fixed assets 9 - 2,488,239 2,488,239 2,300,460
Investments 10 1,348 11,761 13,109 12,634
1,348 2,500,000 2,501,348 2,313,094
Current assets
Debtors 11 1,248 1,248 1,055
Liabilities
Creditors falling due within one year 12 (1,248) (1,248) (1,055)
Net current assets - - - -
Net assets 1,348 2,500,000 2,501,348 2,313,094
The funds of the charity
Unrestricted income funds 13 - - - -
Designated funds 15 1,348 1,348 716
Restricted income funds 14 - 2,219,276 2,219,276 2,312,378
Revaluation Reserve 19 280,724 280,724 -
1,348 2,500,000 2,501,348 2,313,094

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:

23/01/2025 Signed _____ Date _______

Cllr Richard Williams – Chair of the Charity Trustee Sub Committee.

14

GRAVES PARK STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024

2023/24 2022/23
£ £ £ £
Net expenditure 187,623 (85,847)
Non-cash movements: -
(Gains)/losses on the revaluation of fixed assets(280,724) -
Depreciation 92,944 91,818
Revaluation of investments 157 -
Decrease/(increase) in debtors (193) (5)
Increase/(decrease) in creditors 193 5
(187,623) 91,818
Net cash inflow from operating activities 0 5,971
Investing Activities
Interest received 631 270
Capital expenditure
Payment to acquire tangible fixed assets 0 (5,971)
Increase in Consolidated Loans Fund balance 631 270

14

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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.

In 23/24 the assets were revalued by Property Services at Sheffield City Council.

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GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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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GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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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GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

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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GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

2. Donations and legacies

2.a Donations and gifts
Unrestricted:
General (Animal Park)
2.b Grants
Unrestricted:
DEFRA
Maintenance funds drawn down
Sheffield City Council - revenue
Investment drawn down to revenue
Restricted:
Sheffield City Council - Capital receipts		 2023/24
£
3,271
3,271
11,768
9,236
291,126
156
312,286
-
-
315,557		 2022/23
£
1,836
1,836
725
199,087
-
199,812
5,971
5,971
207,619

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		 2023/24
£
1,286
24,615
3,437
9,833
105,740
214,916
52,425
412,252
2023/24
£
18,455
18,455		 2022/23
£
7,345
27,056
3,082
1,570
159,421
191,184
57,867
447,526
2022/23
£
19,277
19,277

19

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

5. Analysis of expenditure on charitable activities
Unrestricted:
Employees
Repairs and maintenance
Grounds maintenance
Tree work
Rangers
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
£
£
140,014
198,080
16,529
10,146
59,539
10,771
-
243
6,342
23,052
7,768
6,012
10,939
3,849
500
221
57,663
155,002
2,683		 Total
2023/24

£
338,094
26,675
59,539
10,771
243
6,342
30,821
6,012
14,788
720
212,666
2,683
709,354
92,944
802,298
2023/24
£
1,248
1,435
2,683
2023/24
£
254,016
24,351
50,271
9,455
338,094		 Total
2022/23
£
303,274
45,442
50,074
43,645
-
4,831
13,598
4,281
4,655
752
156,879
2,466
334,287
375,066
92,944
-		 629,897
91,818
427,232
375,066		 721,715
2022/23
£
1,055
1,411
2,466
2022/23
£
218,001
21,658
44,778
18,837
303,274

Staff costs in 2023/24 comprise of Operations £140,014 (22/23 £138,500) and Animal Farm £198,080 (22/23 £164,775).

No employee received remuneration of over £60,000 during the year (22/23 - None).

Trustees received no remuneration (2022/23 - £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		 2023/24
Number
9		 2022/23
Number
9

20

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

9. Fixed assets
At cost
At 1 April 2023
Additions
Transfers
Revaluation 31st March 2024
At 31 March 2024
Accumulated depreciation
At 1 April 2023
Charge in the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Reverse depreciation on
revaluation 31 March 2024		 Assets under
Construction
Land
Assets &
buildings
Norton Lane
Nurseries
Council
dwellings
Plant
Equipment &
Infrastructure
Total
£
£
£
£
£
-
-
2,391,630
465,125
300,000
46,343
3,203,098
-
-
-
-
-
-
-
-
-
-
-
(608,456)
(135,124)
113,000
-
(630,580)
-
-
1,783,174
330,001
413,000
46,343
2,572,518
-
-
515,266
266,030
75,000
46,343
902,638
-
-
58,836
26,608
7,500
-
92,944
(536,170)
(292,634)
(82,500)
-
(911,304)
-
-
37,932
4
-
46,343
84,278
-
-
1,745,242
329,997
413,000
-
2,488,239
-
-
1,876,364
199,095
225,000
-
2,300,460

All land and buildings are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation carried out March 31st 2024 by SCC Property Services

Update on Rose Garden Cafe:

Following the Committee decision on 18th October 2023, the charity is developing a strategy for restoration of the Rose Garden Café. A Public consultation has been undertaken with over 1557 responses to the survey, via online and paper submissions from 41 of the 45 Sheffield (S) postcodes. From this consultation, a refurbishment design strategy is being undertaken and fundraising to raise money for this is underway spearheaded by the Rose Garden Café Partnership.

The café is now fully re-open inside with reduced scaffolding still supporting the front wall of the café on the outside of the building. New flooring has been installed and additional ground surveys undertaken to support the ongoing design work to refurbish the café itself. Funding applications will be submitted in due course when the refurbishment design is fully costed to help finance the works.

10. Investments

10. Investments
At market value
At 1 April 2023
Income
Interest received
Revaluation
At 31 March 2024		 2023/24
£
12,634
-
631
(156)
13,109

The charity funds are invested in Sheffield City Council's Consolidated Loans Funds (interest paid half yearly).

11. Debtors
Amounts due from Sheffield City Council
12. Creditors: amounts falling due within one year
Independent examination fees		 2023/24
£
1,248
1,248
2023/24
£
1,248
1,248		 2022/23
£
1,055
1,055
2022/23
£
1,055
1,055

21

GRAVES PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

13. Unrestricted funds
Balance at 1 April 2023
Income
Expenditure
Balance at 31 March 2024
Unrestricted funds - prior year
Balance at 1 April 2022
Income
Expenditure
Transfer
Balance at 31 March 2023		 General
Funds
Total
£
-
-
727,809
727,809
(727,809)
(727,809)
-
-
General
Funds
Total
£
£
-
-
618,234
618,234
(598,958)
(598,958)
(19,276)
(19,276)
-
-

14. Restricted funds

14. Restricted funds
Squirrel Café Chantry Cobnar Pocket Land & Assets under Council Total
Fund Fund Cottage Cottage Park Buildings Construction Dwellings Funds
£ £ £ £ £ £ £ £ £
Balance at 1 April 2023 127 1,088 157 10,545 1 2,075,460 - 225,000 2,312,378
Income 8 68 9 547 - - 631
Expenditure and depreciation - - - - - (85,444) - (7,500) (92,944)
Realised gain on disposal of
fixed assets - - - - - - - - -
Revaluation of fixed assets
31st March 2024 - - - - - 85,224 - 195,500 280,724
Drawdown to Revenue - - (157) - (1) - - - (158)
Transfer to Designated Funds (8) (68) (9) (547) - - - - (631)
Balance at 31 March 2024 127 1,088 - 10,545 0 2,075,239 - 413,000 2,500,000

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

Land & Buildings

This fund comprises a combination of various grants and donations made for the specific purpose of

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 2024

15. Designated funds

15. Designated funds
Balance at 1 April 2023
Transfer from Restricted Fund
Balance at 31 March 2024		 2023/24
£
716
631
1,348

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
Investments
Fixed assets
Current assets
Creditors due within one year
Analysis of net assets between funds - prior year
Investments
Fixed assets
Current assets
Creditors due within one year		 Unrestricted
funds
Restricted
funds Total funds
£
£
£
1,348
11,761
13,109
2,488,239
2,488,239
1,248
-
1,248
(1,248)
-
(1,248)
1,348
2,500,000
2,501,348
Unrestricted
funds
Restricted
funds Total funds
£
£
£
716
11,918
12,634
2,300,460
2,300,460
1,055
-
1,055
(1,055)
-
(1,055)
716
2,312,378
2,313,094

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 £291,126 (22/23: £205,058) At the year end £1,248 was owed by Sheffield City Council (22/23: £1,055)

Unrestricted Restricted
19. Revaluation Reserve funds **funds ** **Endowment ** Total funds
£ £ £ £
Balance as at 31 March 2023 - -
-
-
Gains on revaluation of fixed assets - -
-
-
Depreciation charges written to
Revaluation Reserve - (911,304) -
-
Losses on revaluation of fixed asse - 630,580
-
-
Balance as at 31 March 2024 - (280,724) -
-

23