DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D **HILLSBOROUGH PARK TRUSTEES’ REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 REGISTERED CHARITY NUMBER 523913** DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK CONTENTS** ||**Page**| |---|---| |Reference and administrative details|1| |Trustees’ report|2 - 7| |Independent examiner’s report|8| |Statement of financial activities|9 - 10| |Balance sheet|11| |Notes to the financial statements|12 - 19| DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK REFERENCE AND ADMINISTRATIVE DETAILS** ## **CHARITY NO:** 523913 ## **TRUSTEES** Sheffield City Council is the sole Trustee of the charity, acting through the Charity Trustee Sub Committee. ## **Charity Sub-Committee Members:** Cllr Bryan Lodge (Chair) Cllr Richard Williams (Deputy Chair) Cllr Douglas Johnson (Spokesperson) Cllr Julie Grocutt Cllr Dawn Dale ## **PRINCIPAL ADDRESS** Sheffield City Council Parks and Countryside Moorfoot Level 3 West wing Sheffield S1 4PL ## **INDEPENDENT EXAMINER** Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP 1 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** The trustees present their report together with the financial statements of the charity for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, ‘Accounting and Reporting by Charities’ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective on 1 January 2019 (Updated second edition – October 19). The Hillsborough Park site was previously included in registered charity 523913 Earl Marshal Recreation Ground. From the 18 of November 2005 registered charity 523913 was split into 3 separate charities as follows: Earl Marshal Recreation Ground (formerly known as Carlisle Street Recreation Ground) is registered as 1088787. Hillsborough Park is registered as 523913. Endcliffe Park is registered as 1112149. These accounts relate to Hillsborough Park 523913 and incorporate the transfer of assets from this charity to the other two in the year 2005/06. ## **DESCRIPTION OF CHARITY’S TRUSTS AND OBJECTS** The charity comprises the Hillsborough Park incorporating Hillsborough Library. The charity’s governing documents are two schemes dated 22 March 1996 and 15 October 1998. The objects of the charity are the provision and maintenance of a public park and recreation ground in Sheffield for the use of members of the public resorting thereto with the object of improving their conditions of life. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Hillsborough Park is a charity and the sole Trustee is Sheffield City Council. The Charity Trustee Sub Committee is a standing sub committee of the Strategy and Resources Policy Committee. It has been established to take all decisions of the Council, including but not limited to disposal of and other dealings with charitable land. Management of the park is the responsibility of the Councils’ Parks and Countryside service. Management and administrative decisions which are not decisions of the Council as Trustee, may be made, in accordance with the Council constitution delegations, by the Executive Director of Operational Services, the Director of Parks, Leisure and Libraries, or the head of Parks and Countryside service. 2 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** ## **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. ## **ACTIVITIES AND ACHIEVEMENTS** Hillsborough Park Partnership, which was established in 1999 as a group of organisations using or working in the park, with a shared interest in maintaining and developing the park. The Partnership meetings have now all been encompassed into the Friends of Hillsborough Park Meetings held on a regular basis. The objectives of the Friends of Hillsborough Park: - To strive to improve the park aiding maintenance for the good of local communities and the wider city developing new ideas and activities work centred mainly around the walled garden - To involve local people in the management of the park, to have a direct link with Council officers responsible for the management of the park. Andrew Phillips, area manager, attends regular FOHP meetings and work days. Sheffield Wednesday Football Club continues to pay for the use of one of the car parks on a maximum of 28 home match days. Pay and display ticket machines have been installed in Parkside and Hawksley Avenue car parks. Charges are in operation from 9.30-6.30 7 days per week. The Friends of Hillsborough Park Group work actively with the Council to improve the park. They carry out practical work within the Park and the walled garden area along with a number of individual volunteers and gardening groups. They have group insurance which means they can work on agreed tasks without supervision. The group has grown substantially over recent years with many members working a few mornings per week. They usually hold work mornings on Tuesdays and Wednesdays, but this is not exclusive. The walled garden buildings on site have been converted into a café and Makers Shed by Age UK. Age UK have an agreed lease with the council for the use of these buildings including the pavilion. Age UK provide a variety of activities for the local community which take place in either the Makers Shed or the pavilion. The lighting within the Park has been extended to improve the access/egress for the pavilion users. Disabled cycling groups regularly use the park with a number of specially adapted bikes available on site with the activity run by local cycling groups. 3 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** ## **EVENTS** The following events occurred during the year: **----- Start of picture text -----**
APPROX
DATE EVENT ORGANISATION
ATTENDANCE
15/05/2021 Fake Festival - COVID CANCELLED 0 Fake Festival
28/05/2021 Farrar's Family Funfair 500 Farrar's Funfairs
29/05/2021 Farrar's Family Funfair 500 Farrar's Funfairs
30/05/2021 Farrar's Family Funfair 500 Farrar's Funfairs
31/05/2021 Farrar's Family Funfair 500 Farrar's Funfairs
01/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
02/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
03/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
04/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
05/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
06/06/2021 Farrar's Family Funfair 500 Farrar's Funfairs
29/06/2021 Little Library & Family Learning 100 Family Learning - SCC
14/07/2021 Tramlines Set Up 14 - 30 Jul 0 Tramlines
23/07/2021 Tramlines 11000 Tramlines
24/07/2021 Tramlines 10000 Tramlines
25/07/2021 Tramlines 10000 Tramlines
Learning and Young People’s
05/08/2021 Little Library 100
Team
29/08/2021 Junior Park Run 200 Major Events
11/09/2021 Hillsborough Fun Day 500 Hillsborough Churches
09/10/2021 RivelinCo/Age UK performances 200 Major Events
10/10/2021 RivelinCo/Age UK performances 200 Major Events
27/10/2021 Ride for their life 50 Major Events
26/02/2022 All Lit Up (Walled Garden) 200 Friends of Hillsborough Park
12/03/2022 Primary Schools XC Relays yrs 3 & 4 300 Major Events
**----- End of picture text -----**
## **PLANS FOR FUTURE PERIODS** - Additional herbaceous border to the entrance off Middlewood Road. - Continue to work with all key stakeholders, including FOHP, AUK, LTA and Cycling for all. - Playground improvements and add new benches around the Park. - Potential Tennis Association investment in the tennis court booking office. - Resurface additional footpaths. - Hillsborough Park Master plan linking all potential improvement projects. - Work with British Cycling to install a cycling pump track for use by all the community, including relocating cycle for all to a better location. 4 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** ## **FINANCIAL REVIEW AND FUNDING** **Restricted Funds** - Net income of £19,451 (2021: Net income £20,927) comprising grants of £84,807 (2021: £67,223) including the release of the £15,000 Public Health grant. Depreciation charged of £50,356 (2021: £46,296). Capital expenditure of £84,807 was spent in 2021/2022. The majority of this was to build the Wheels Park (£61,785) and the remainder on various path and roadway works. Fixed assets (Fire Risk Assessments) totalling £7,670 were written off as part of an impairment review to ensure that the carrying value is not greater than the recoverable amount. **Unrestricted funds** - Net expenditure of £6 (2021: Net expenditure £15,930). The income from charitable activities was £142,981 (2021: £104,629), with expenditure of £317,444 (2021: £338,052). The deficit was funded by the grant from Sheffield City Council of £174,933 (2021: £217,493). In addition there was investment income of £6 (2021: £0). There was an increase in income in 2021/2022 due to the Park receiving £33,500 income from Tramlines Events Ltd. This has helped offset the additional repairs & maintenance of £27,652 drainage and path repairs work this year. The Library employee costs have reduced by £45,442 (55%) in 2021/2122 as a result of more reliance on volunteers in running the Library. At 31 March 2022 the charity had total funds of £1,972,619 (2021: £1,953,162). These funds are all tied up in fixed assets and investments. There was investment income of £6 (2021: £0) and this has been transferred to the Designated Fund which now totals £135 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 unrestricted charity reserves are deemed to be necessary. 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. 5 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** ## **GRANT MAKING POLICY** Grants are made in accordance with the provisions contained in the charitable deeds. Where the charitable deed is specific, charitable funds are applied automatically against the purpose stated. Where there is more discretion, judgement is made by officers, and where applicable, members. If necessary, permission from the Charity Commission may be sought to the use of charitable funds on occasion. ## **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. 6 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2022** ## **Trustees' responsibilities statement** The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **TRUSTEES** Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1. ## **Approved by the Trustees and signed on their behalf by:** **Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee** . 7 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **INDEPENDENT EXAMINER’S REPORT** ## **TO THE TRUSTEES OF Hillsborough Park** I report to the trustees on my examination of the financial statements of the charity for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ........................................ Melvin Bailey FCCA DChA for and on behalf of Rogers Spencer Chartered Accountants Newstead House Pelham Road Nottingham NG5 1AP 18-04-2023 Dated: 8 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022** |Note
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Investments
11
**Total**
**Expenditure on:**
Raising funds
4
Charitable activities
5
Other
6
**Total**
**Net income/(expenditure)**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**2021/22**
**£**
**174,933**
**142,981**
**6**
**317,920**
**470**
**317,444**
**-**
**317,914**
**6**
**129**
**135**|**Restricted**
**2021/22**
**£**
**69,807**
**-**
**-**
**69,807**
**-**
**50,356**
**-**
**50,356**
**19,451**
**1,952,733**
**1,972,184**|**Endowment**
**2021/22**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**300**
**300**|**Total**
**2021/22**
**£**
**244,740**
**142,981**
**6**
**387,727**
**470**
**367,800**
**-**
**368,270**
**19,457**
**1,953,162**
**1,972,619**|Total
2020/21
£
284,716
104,629
-
389,345
-
384,348
-
384,348
4,997
1,948,165
1,953,162| |---|---|---|---|---|---| 9 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2021** |Note
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
Investments
11
**Total**
**Expenditure on:**
Raising funds
4
Charitable activities
5
Other
6
**Total**
**Net income/(expenditure)**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**2020/21**
**£**
**217,493**
**104,629**
**-**
**322,122**
**-**
**338,052**
**-**
**338,052**
**(15,930)**
**16,059**
**129**|**Restricted**
**2020/21**
**£**
**67,223**
**-**
**-**
**67,223**
**-**
**46,296**
**-**
**46,296**
**20,927**
**1,931,806**
**1,952,733**|**Endowment**
**2020/21**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**300**
**300**|**Total**
**2020/21**
**£**
**284,716**
**104,629**
**-**
**389,345**
**-**
**384,348**
**-**
**384,348**
**4,997**
**1,948,165**
**1,953,162**|Total
2019/20
£
220,095
148,558
121
368,774
-
383,343
-
383,343
(14,569)
1,962,733
1,948,164| |---|---|---|---|---|---| All income and expenditure derives from continuing activities. The statement of financial activities includes all gains and losses recognised in the year. 10 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK** ## **BALANCE SHEET YEAR ENDED 31 MARCH 2022** |Note
**Fixed assets**
Tangible fixed assets
10
Investments
11
**Current assets**
Debtors
12
**Liabilities**
Creditors falling due within one year
13
**Net current assets**
**Net assets**
**Funds**
Unrestricted funds
- Designated funds
17
Restricted income funds
15
Endowment funds
14|**Unrestricted**
**2021/22**
**£**
**-**
**135**
**135**
**945**
**(945)**
**-**
**135**
**135**
**-**
**-**
**135**|**Restricted**
**2021/22**
**£**
**1,966,184**
**6,000**
**1,972,184**
**-**
**-**
**-**
**1,972,184**
**-**
**1,972,184**
**1,972,184**|**Endowment**
**2021/22**
**£**
**-**
**300**
**300**
**-**
**-**
**-**
**300**
**-**
**-**
**300**
**300**|**Total**
**2021/22**
**£**
**1,966,184**
**6,435**
**1,972,619**
**945**
**(945)**
**-**
**1,972,619**
**135**
**1,972,184**
**300**
**1,972,619**|Total
2020/21
£
1,931,733
6,429
1,938,162
16,350
(1,350)
15,000
1,953,162
129
1,952,733
300
1,953,162| |---|---|---|---|---|---| Sheffield City Council adopted a Committee system in May 2022. The current Trustees are listed on Pg 1. **Approved by the Trustees and signed on their behalf by:** 11/04/2023 **Signed ___________________________________ Date _____________** **Cllr Bryan Lodge – Chair of the Charity Trustee Sub Committee.** 11 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** ## **1. Accounting Polices** Hillsborough 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 provision and maintenance of a public park and recreation ground. 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** Hillsborough Park is classified as a Community Asset. The trustees policy is to value Community Assets at £Nil. All other Land and Buildings including Hillsborough Park Library (a Grade II Listed Building) are carried in the accounts at deemed cost as at 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. As the revalued assets were originally gifted to the charity, with subsequent additions at cost, it is not possible to obtain the overall historical cost figures. 12 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** ## **1.2 Depreciation** Depreciation is provided on fixed assets at rates calculated to write off the cost of the assets over their expected useful lives as follows: - Land and previously revalued buildings are not depreciated. - Park buildings have been depreciated on a straight line basis over 40 years, commencing on the transfer from assets under construction. - Hillsborough Park Library (a Grade II Listed Building) is not depreciated. The building is not depreciated because it is maintained in good condition so that the value is not impaired by the passage of time and in consequence any element of depreciation would be immaterial. The Trustees perform annual impairment reviews in accordance with the requirements of FRS 102 to ensure that the carrying value is not greater than the recoverable amount. - Plant, furniture and equipment have been depreciated on a straight line basis over 10 years. - Depreciation is not provided on land or 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for specific purposes. 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. 13 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** ## **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, room hire 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. ## **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. ## **Charitable activities** Charitable activities are set out within the charitable deeds and represent the costs associated with the running and maintenance of the parks and library. ## **Grants payable** Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure. ## **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. 14 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** ## **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. ## **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. 15 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK** ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** ## **2. Donations and legacies** **----- Start of picture text -----**
Grants 2021/22 2020/21
£ £
Unrestricted:
Sheffield City Council - revenue grant 174,933 217,493
174,933 217,493
Restricted:
Capital grants:
Sheffield City Council - Corporate Resource Pool 21,347 28,823
Sheffield City Council - Capital Grants & Contributions 63,460 25,189
Public Health - Release debtor (15,000) -
S106 - 13,211
69,807 67,223
244,740 284,716
**----- End of picture text -----**
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:
Sales
Book Fines
Events
Memorial Benches
Car Parking
Hire, Lettings & Outdoor activities
Tramlines fee
Misc
Rents
**4. Cost of generating funds**
Events
**5. Analysis of expenditure on charitable**
**activities**
Unrestricted:
Employees
Ranger service
Repairs and maintenance
Grounds maintenance
Tree work
Playground refurbishment and maintenance
Electricity
Gas
Water and sewage
Rates
Cleaning charges
Telephones
Transport
Supplies and services
Governance costs
Restricted:
Depreciation|**Hillsborough**
**Park**
**Hillsborough**
**Library**
**Total**
**2021/22**
**2021/22**
**2021/22**
**£**
**£**
**£**
**805**
**432**
**1,237**
**-**
**93**
**93**
**-**
**-**
**-**
**1,212**
**-**
**1,212**
**50,511**
**-**
**50,511**
**7,452**
**-**
**7,452**
**33,500**
**-**
**33,500**
**2,337**
**230**
**2,567**
**38,886**
**7,523**
**46,409**
**134,703**
**8,278**
**142,981**
**Hillsborough**
**Park**
**Hillsborough**
**Library**
**Total**
**2021/22**
**2021/22**
**2021/22**
**£**
**£**
**£**
**470**
**-**
**470**
**Hillsborough**
**Park**
**Hillsborough**
**Library**
**Total**
**2021/22**
**2021/22**
**2021/22**
**£**
**£**
**£**
**122,188**
**37,396**
**159,584**
**-**
**-**
**-**
**34,946**
**18,189**
**53,135**
**25,132**
**-**
**25,132**
**4,330**
**-**
**4,330**
**7,472**
**-**
**7,472**
**5,876**
**5,016**
**10,892**
**2,073**
**4,871**
**6,944**
**2,325**
**714**
**3,039**
**4,790**
**3,405**
**8,195**
**6,697**
**14,704**
**21,401**
**1,505**
**-**
**1,505**
**-**
**-**
**-**
**12,828**
**836**
**13,664**
**2,151**
**-**
**2,151**
**232,313**
**85,131**
**317,444**
**48,072**
**2,284**
**50,356**
**48,072**
**2,284**
**50,356**
**280,385**
**87,415**
**367,800**|Hillsborough
Park
Hillsborough
Library
Total
2020/21
2020/21
2020/21
£
£
£
-
200
200
-
275
275
-
-
-
824
-
824
44,507
-
44,507
-
-
-
1,671
-
1,671
44,918
12,234
57,152
91,920
12,709
104,629
Hillsborough
Park
Hillsborough
Library
Total
2020/21
2020/21
2020/21
£
£
£
-
-
-
Hillsborough
Park
Hillsborough
Library
Total
2020/21
2020/21
2020/21
£
£
£
119,019
82,838
201,857
-
-
-
7,294
7,132
14,426
23,856
-
23,856
6,835
-
6,835
15,847
-
15,847
5,967
4,459
10,426
2,865
4,970
7,835
1,829
686
2,515
4,790
3,405
8,195
7,655
14,187
21,842
2,034
-
2,034
-
-
-
15,744
4,121
19,865
2,519
-
2,519
216,254
121,798
338,052
44,012
2,284
46,296
44,012
2,284
46,296
260,266
124,082
384,348| |---|---|---| ## **6. Grants payable** Unrestricted: Hillsborough Arena Sports Association **2021/22** 2020/21 **£** £ **-** - 16 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK** **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** |**7. Governance costs**||**2021/22**||2020/21| |---|---|---|---|---| |Managing and administration:||**£**||£| |Independent Examination fees||**945**||1,350| |Finance office costs||**1,206**||1,169| |||**2,151**||2,519| |**8. Staff costs and trustees' remuneration**||**2021/22**||2020/21| |Salaries||**£**
**125,657**||£
158,942| |Social security costs||**10,053**||12,715| |Pension||**23,875**||30,199| |Other||||| |||**159,584**||201,856| |Hillsborough - Operations||**2021/22**
**£**
**122,188**||2020/21
£
105,475| |Hillsborough - Library||**37,396**||82,838| |Hillsborough - Ranger Team (Walled Garden)||**-**||13,544| |Total||**159,584**||201,857| |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.||| |**9. Staff numbers**||**2021/22**||2020/21| |The average number of employees during the year was||**Number**
**9**||Number
12| |**10. Fixed assets**||||| |**Cost**|**Assets under**
**construction**
**Plant and**
**Equipment**
**£**
**£**|**Land and**
**buildings (library)**
**£**|**Land and buildings**
**(park)**
**£**|**Total**
**£**| |At 1 April 2021|**-**
**49,078**|**379,445**|**1,882,324**|**2,310,847**| |Additions||**5,478**|**79,329**|**84,807**| |Disposals|||**(7,670)**|**(7,670)**| |Transfers|**-**||**-**|**-**| |At 31 March 2022|**-**
**49,078**|**384,923**|**1,953,983**|**2,387,984**| |**Accumulated depreciation**||||| |At 1 April 2021|**28,526**|**-**|**350,588**|**379,114**| |Depreciation charged in year|**2,284**|**-**|**48,072**|**50,356**| |Eliminated on disposals|**-**||**(7,670)**|**(7,670)**| |At 31 March 2022|**-**
**30,810**|**-**|**390,990**|**421,800**| |**Net book value**||||| |**At 31 March 2022**|**-**
**18,268**|**384,923**|**1,562,993**|**1,966,184**| |At 31 March 2021|-
20,552|379,445|1,531,736|1,931,733| Land and buildings, park and library are included at deemed cost as permitted on transition to SORP (FRS102) based on a valuation in 2013 by the Kier Asset Partnership Services. |**11. Investments**
**At market value**
At 1 April 2020
Interest received
Draw downs
At 31 March 2021|**2021/22**
**£**
**6,429**
**6**
**-**
**6,435**| |---|---| The Charity funds are invested in Sheffield City Council's Consolidated Loan Funds (interest paid half yearly). Market value is the same as historical cost. 17 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK** ## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** |**12. Debtors**
Accrued income
Amounts due from Sheffield City Council
**13. Creditors: amounts falling due within one year**
Independent examination fees
**14. Endowment funds**
At 1 April 2021 and 31 March 2022|**2021/22**
**£**
**-**
**945**
**945**
**2021/22**
**£**
**945**|2020/21
£
15,000
1,350
16,350
2020/21
£
1,350
**Permanent**
**endowment**
**£**
**300**| |---|---|---| 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 investment form part of the fund. |**Endowment funds - prior year**
At 1 April 2020 and at 31 March 2021|**Permanent**
**endowment**
**£**
**300**| |---|---| |**15. Restricted funds**
At 1 April 2021
Expenditure
Income
Balance at 31 March 2022|**Investment Funds Land and buildings**
**Total**
**£**
**£**
**£**
**6,000**
**1,946,733**
**1,952,733**
**-**
**(50,356)**
**(50,356)**
**-**
**69,807**
**69,807**
**6,000**
**1,966,184**
**1,972,184**| |---|---| ## **Investment Fund** This represents investments held in repect of land used to create Hawksley Avenue turning head. Interest can be used for unrestricted purposes. ## **Land and buildings** This fund relates to the library building and refurbishment of the park. ## **Restricted funds - prior year** |
At 1 April 2020
Expenditure
Income
Balance at 31 March 2021|**Investment Funds Land and buildings**
**Total**
**£**
**£**
**£**
**6,000**
**1,925,806**
**1,931,806**
**-**
**(46,296)**
**(46,296)**
**-**
**67,223**
**67,223**
**6,000**
**1,946,733**
**1,952,733**| |---|---| |**16. Unrestricted funds**
At 1 April 2021
Income
Expenditure
Transfer
Balance at 31 March 2022|**General**
**Funds**
**Designated**
**Funds**
**Total**
**£**
**£**
**£**
**-**
**129**
**129**
**317,920**
**-**
**317,920**
**(317,914)**
**-**
**(317,914)**
**(6)**
**6**
**-**
**-**
**135**
**135**| |---|---| Designated funds represent amounts invested and accumulated interest set aside by the trustees for specific costs as determined by the trustees. |**Unrestricted funds - prior year**
At 1 April 2020
Income
Expenditure
Transfer
Balance at 31 March 2021|**General**
**Funds**
**Designated**
**Funds**
**Total**
**£**
**£**
**£**
**-**
**16,058**
**16,058**
**322,123**
**-**
**322,123**
**(338,052)**
**-**
**(338,052)**
**15,929**
**(15,929)**
**-**
**-**
**129**
**129**| |---|---| 18 DocuSign Envelope ID: 2968BF42-52DC-4E70-B09D-DB5B67B47B8D ## **HILLSBOROUGH PARK NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022** |**17. Analysis of net assets between funds**
Fixed asset investments
Current assets
Creditors due within one year
Fixed asset investments
Current assets
Creditors due within one year
**Analysis of net assets between funds - prior year**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**Total funds**
**£**
**£**
**£**
**£**
**135**
**1,972,184**
**300**
**1,972,619**
**945**
**-**
**-**
**945**
**(945)**
**-**
**-**
**(945)**
**135**
**1,972,184**
**300**
**1,972,619**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**Total funds**
**£**
**£**
**£**
**£**
**129**
**1,937,733**
**300**
**1,938,162**
**1,350**
**15,000**
**-**
**16,350**
**(1,350)**
**-**
**-**
**(1,350)**
**129**
**1,952,733**
**300**
**1,953,162**| |---|---| ## **18. Ultimate controlling party** The ultimate controlling party is the sole trustee, Sheffield City Council. ## **19. 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 £196,280 (2021: £246,316). At the year end £945 was owed by Sheffield City Council (2021: £1,350). 19