**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.
2
## **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:
- 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.
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.
3
**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:
- Installation of 5 new double-bins in the park in June 2023 (ordered in 2022)
- Mulching program of herbaceous borders and shrub beds to provide natural weed suppression rather than use of glysophate-based week killer
- Completion of sensory entrance for Rose Garden including 2 benches, new planting, sculptures, signage and bug hotels (bug hotels installed April/May 2024).
- Clearing out of stream channel at bottom of park
- New field shelter for donkeys at Animal Farm
- Extended one of barn enclosures at Animal Farm courtyard
- Obtaining grant funding for improvements to Woodseats Playground including an upgraded picnic area; reducing old, cracked tarmac with biodiverse meadow planting; and provision of new play equipment.
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.
4
## **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:
- Repainting estate fencing at the Animal Farm
- Repainting railings around the pond in the park
- Mulching shrub beds at Charles Ashmore Road, Derbyshire Lane and the Rhododendron beds
5
**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|
6
## **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:
- Work towards restoration and refurbishment of the Rose Garden Café with the Rose Garden Café partnership
- Completion of ‘Sensory Entrance’ at Rose Garden with the Sheffield Royal Society of the Blind
- Support dissemination of the results of the Friends of Graves Park’s Finding Lost Norton Park: Digging Deeper for All project
- Create memorial sculpture from ‘lone tree’ that fell in the park in winter 2023.
- Complete delivery of improvements to Woodseats Playground
- Continue to provide additional volunteering opportunities for corporate groups in the park
- Deliver more educational visits and interactive educational experiences at the Animal Farm
- Build on income generation activities developed at the Animal Farm to offset increasing costs of welfare and utilities while continuing to enhance the visitor experience.
## **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.
7
## **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.
8
## **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:
- 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 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.
15
**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:
- 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.
16
**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.
17
**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.
18
## **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