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2024-03-31-accounts

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

REGISTERED CHARITY NUMBER 523913

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
Statement of cash flows 12
Accounting Policies 13 - 16
Notes to the financial statements 17 - 21

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 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

HILLSBOROUGH 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).

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 are not decisions of the Council as Trustee, and are made by the Executive Director of Neighbourhood Services, the Director of Parks, Leisure and Libraries, or the head of Parks and Countryside service in accordance with the Arrangements for the Delegation of Functions To Officers, under part 3 of the Council’s constitution.

2

HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

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 were encompassed into the Friends of Hillsborough Park. In January 2024 FOHP have disbanded with the majority of members reforming as Hillsborough Park Walled Gardeners. Meetings are held on a regular basis.

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 9.00-6.30 7 days per week.

The Friends of Hillsborough Park Group and now Hillsborough Park Walled Gardeners 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. They have been awarded the Green Flag Community award and are previous winners of an award from Yorkshire in Bloom. In 2023 the Park was awarded Green Flag statues reflecting the standards of facilities and standards around the park alongside its community involvement .

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.

3

HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

ACTIVITIES AND ACHIEVEMENTS (continued)

In winter 2023/24 the path running across the middle of the park, below the library, was totally rebuilt, including widening, while adding new benches and bins and drains. The path was built to highways standard to support heavy event vehicles. The Footpath and landscaping work were funded by Tramlines.

Following the 2023 Tramlines event, the Park suffered substantial damage due to unforeseen weather conditions. As a result, substantial landscaping work to grass areas around the park has taken place, funded by the event organisers.

In 23/24 a new Library entrance was completed to the rear, linking the Coach house gathering ground, with a new changing places toilet pod also installed.

Disabled cycling groups regularly use the park. A number of specially adapted bikes are available on site, with the activity run by local cycling group Cycle4all. Cycle4all have been relocated in a better location which provides easier access to the MUGA facility and new path network.

EVENTS

The following events occurred during the year:

Date EVENT APPROX
ATTENDA
NCE		 ORGANISATION
13/05/2023 Hillsborough Churches FamilyFun Day 450 Hillsborough Network of Churches
01/06/2023 Music Festival Set Up1 - 15 June 0 SJM Concerts
09/06/2023 Arctic Monkeys 30000 SJM Concerts
10/06/2023 Arctic Monkeys 30000 SJM Concerts
18/06/2023 A Midsummer Festival of Fun 1000 RivelinCo Creative Ltd
20/06/2023 FamilyLearning/FACES event 50 SCC FamilyLearningTeam
25/06/2023 Walled Garden Open Day 100 Friends of Hillsborough Park
12/07/2023 Tramlines Set Up 0 Tramlines
21/07/2023 Tramlines 12500 Tramlines
22/07/2023 Tramlines 12500 Tramlines
23/07/2023 Tramlines 12500 Tramlines
17/03/2024 Sponsored Walk UK Sepsis Trust

4

HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

PLANS FOR FUTURE PERIODS

FINANCIAL REVIEW AND FUNDING

Restricted Funds - Net income of £314,900 (22/23: Net income £463,717) comprising grants of £375,350 (22/23: £513,264), £226,000 of Prudential Borrowing is funding capital assets. Depreciation was £60,450 (22/23 £49,547).

The revaluation of assets this year showed an increase in value of £204,366 on Bowling Pavillion & Lodges.

Capital expenditure of £375,350 in 2023/2024. The majority was spent on The Library Entrance (£298,217) and the Toilet pod (£65,533).

Unrestricted funds - Net income of £248 (22/23: Net income £149). The income from charitable activities was £264,142 (22/23: £195,610) with expenditure of £624,275 (22/23: £423,965). The deficit was funded by the grant from Sheffield City Council of £360,133 (22/23: £228,354). In addition, there was investment income of £248 (22/23: £149).

At 31 March 2024 the charity had total funds of £2,955,999 (22/23 £2,436,485). These funds are all tied up in fixed assets and investments. There was investment income of £248 (22/23: £149) and this has been transferred to the Designated Fund which now totals £532 and is available to spend in accordance with the Charity’s Trusts & Objectives.

5

HILLSBOROUGH PARK TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2024

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.

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

HILLSBOROUGH 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 .

7

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 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

8

HILLSBOROUGH PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2024

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Investments
11
Total
Expenditure on:
Raising funds
4
Charitable activities
5
Total
Net income/(expenditure)
Other recognised gains / (Losses)
Gains / (Losses) on revaluation of fixed assets
10
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
2023/24
£
360,133
264,142
248
624,523
-
624,275
624,275
248
248
284
532		 Restricted
2023/24
£
375,350
-
-
375,350
60,450
60,450
314,900
204,366
519,266
2,435,901
2,955,168		 Endowment
2023/24
£
-
-
-
-
-
-
-
-
-
300
300		 Total
2023/24
£
735,483
264,142
248
999,873
-
684,725
684,725
315,148
204,366
519,514
2,436,485
2,955,999		 Total
2022/23
£
741,618
195,610
149
937,377
-
473,511
473,511
463,866
-
463,866
1,972,619
2,436,485

9

HILLSBOROUGH PARK STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023

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
2022/23
£
228,354
195,610
149
424,113
-
423,965
-
423,965
149
135
284		 Restricted
2022/23
£
513,264
-
-
513,264
-
49,547
-
49,547
463,717
1,972,184
2,435,901		 Endowment
2022/23
£
-
-
-
-
-
-
-
-
-
300
300		 Total
2022/23
£
741,618
195,610
149
937,377
-
473,511
-
473,511
463,866
1,972,619
2,436,485		 Total
2021/22
£
244,740
142,981
6
387,727
470
367,800
-
368,270
19,457
1,953,162
1,972,619

All income and expenditure derives from continuing activities. The statement of financial activities includes all gains and losses recognised in the year.

10

HILLSBOROUGH PARK BALANCE SHEET YEAR ENDED 31 MARCH 2024

Note
Fixed assets
Tangible fixed assets
10
Investments
11
Current assets
Debtors
12
Liabilities
Creditors falling due within one year
13
Net current assets
Total assets less current liabilities
Non-current Liabilities
Creditors falling due after more than one year
14
Net assets
Funds
Unrestricted funds
- Designated funds
17
Restricted income funds
16
Endowment funds
15
Revaluation Reserve
21		 Unrestricted
2023/24
£
-
532
532
1,248
(1,248)
-
532
532
532
-
-
532		 Restricted
2023/24
£
3,175,168
6,000
3,181,168
-
(7,669)
(7,669)
3,173,499
(218,331)
2,955,168
-
2,750,802
204,366
2,955,168		 Endowment
2023/24
£
-
300
300
-
-
-
300
300
-
-
300
300		 Total
2023/24
£
3,175,168
6,832
3,181,999
1,248
(8,917)
(7,669)
3,174,330
(218,331)
2,955,999
532
2,750,802
300
204,366
2,955,999		 Total
2022/23
£
2,655,901
6,584
2,662,485
950
(4,551)
(3,601)
2,658,884
(222,399)
2,436,485
284
2,435,901
300
-
2,436,485

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.

11

HILLSBOROUGH PARK STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2024

2023/24 2022/23
£ £ £ £
Net income / (expenditure) 519,514 463,717
Non-cash movements: -
(Gains)/losses on the revaluation of fixed assets (204,366) -
Depreciation 60,450 49,547
Interest received (248) -
Decrease/(increase) in debtors (298) (5)
Increase/(decrease) in creditors 298 5
(144,164) 49,547
Net cash inflow from operating activities 375,350 513,264
Investing Activities
Funding from Prudential Borrowing - 226,000
Interest received 248 149
Financing activities
Payment to acquire tangible fixed assets (375,350) (739,264)
Increase/(decrease) in Consolidated Loans Fund balance 248 149

12

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

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.

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

13

HILLSBOROUGH 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.

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.

14

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

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.

15

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

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.

16

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

2. Donations and legacies

Grants
Donations
Unrestricted
Unrestricted:
S106 maintenance
Tramlines Repairs reimbursed by music event companies
Investment balances drawn down
Sheffield City Council - revenue grant
Restricted:
Capital grants:
Sheffield City Council - Corporate Resource Pool
Sheffield City Council - Capital Grants & Contributions
Changing Places grant
Community Infrastucture Levy
SJM contribution
Sport England
Local Transport Plan
Libraries Improvement Fund
Making Trax
S106		 2023/24
£
-
4,566
106,801
81
248,684
360,133
10,000
42,757
34,467
15,000
-
-
-
271,647
-
1,479
375,350
735,483		 2022/23
£
-
4,263
-
-
224,092
228,354
2,413
217,288
-
-
10,000
150,000
37,851
34,353
61,359
-
513,264
741,618

If expenditure is greater than income the variance is borne by Sheffield City Council and not brought forward into the next financial

3. Income from charitable activities
Unrestricted:
Sales
Book Fines
Events
Memorial Benches
Car Parking
Hire, Lettings & Outdoor activities
Misc
Rents
4. Cost of generating funds
Events		 Hillsborough
Park
Hillsborough
Library
Total
2023/24
2023/24
2023/24
£
£
£
-
913
913
-
129
129
107,075
-
107,075
-
-
-
58,019
-
58,019
6,518
-
6,518
-
770
770
76,556
14,162
90,718
248,169
15,973
264,142
Hillsborough
Park
Hillsborough
Library
Total
2023/24
2023/24
2023/24
£
£
£
-
-
-
-
-
-		 Hillsborough
Park
Hillsborough
Library
Total
2022/23
2022/23
2022/23
£
£
£
-
661
661
-
154
154
4,905
-
4,905
1,070
-
1,070
66,350
-
66,350
7,993
-
7,993
-
87
87
97,093
17,298
114,391
177,410
18,200
195,610
Hillsborough
Park
Hillsborough
Library
Total
2022/23
2022/23
2022/23
£
£
£
-
-
-

17

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

5. Analysis of expenditure on charitable
activities
Hillsborough
Park
Hillsborough
Library
Total
Hillsborough
Park
Hillsborough
Library
Total
2023/24
2023/24
2023/24
2022/23
2022/23
2022/23
£
£
£
£
£
£
Unrestricted:
Employees
141,271
82,351
223,622
134,444
78,286
212,730
Repairs and maintenance
233,195
8,918
242,113
60,060
15,906
75,966
Grounds maintenance
32,106
-
32,106
26,071
-
26,071
Tree work
3,477
-
3,477
9,283
-
9,283
Playground refurbishment and maintenance
4,392
-
4,392
8,770
-
8,770
Electricity
22,378
10,674
33,052
14,320
9,582
23,902
Gas
3,142
6,226
9,368
3,008
7,084
10,092
Water and sewage
5,543
1,209
6,752
3,104
714
3,818
Rates
5,030
4,416
9,445
4,790
3,405
8,195
Cleaning charges
7,125
13,870
20,995
6,782
15,223
22,005
Telephones
1,740
-
1,740
1,558
-
1,558
Supplies and services
31,840
2,689
34,530
18,907
448
19,356
Governance costs
2,683
-
2,683
2,220
-
2,220
493,923
130,352
624,275
293,316
130,648
423,965
Restricted:
Depreciation
60,450
-
60,450
47,263
2,284
49,547
60,450
-
60,450
47,263
2,284
49,547
554,373
130,352
684,725
340,579
132,932
473,511
6. Grants payable
2023/24
2022/23
£
£
Unrestricted:
Hillsborough Arena Sports Association
-
-
7. Governance costs
2023/24
2022/23
Managing and administration:
£
£
Independent Examination fees
1,248
950
Finance office costs
1,435
1,270
2,683
2,220
8. Staff costs and trustees' remuneration
2023/24
2022/23
£
£
Salaries
176,080
167,504
Social security costs
14,086
13,400
Pension
33,455
31,826
Other
223,622
212,730
2023/24
2022/23
£
£
Hillsborough - Operations
141,271
134,444
Hillsborough - Library
82,351
78,286
Total
223,622
212,730
No employee received remuneration of over £60,000 during the year (21/22 - None).
9. Staff numbers
2023/24
2022/23
Number
Number
The average number of employees during the year was
8
8
Trustees received no remuneration (21/22 - £Nil) and were not reimbursed for any of their expenses during the year.		 Hillsborough
Park
Hillsborough
Library
Total
2022/23
2022/23
2022/23
£
£
£
134,444
78,286
212,730
60,060
15,906
75,966
26,071
-
26,071
9,283
-
9,283
8,770
-
8,770
14,320
9,582
23,902
3,008
7,084
10,092
3,104
714
3,818
4,790
3,405
8,195
6,782
15,223
22,005
1,558
-
1,558
18,907
448
19,356
2,220
-
2,220		 Hillsborough
Park
Hillsborough
Library
Total
2022/23
2022/23
2022/23
£
£
£
134,444
78,286
212,730
60,060
15,906
75,966
26,071
-
26,071
9,283
-
9,283
8,770
-
8,770
14,320
9,582
23,902
3,008
7,084
10,092
3,104
714
3,818
4,790
3,405
8,195
6,782
15,223
22,005
1,558
-
1,558
18,907
448
19,356
2,220
-
2,220
293,316
47,263		 130,648
423,965
2,284
49,547
47,263 2,284
49,547
340,579 132,932
473,511

18

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

10. Fixed assets

Cost
At 1 April 2023
Additions
Transfers
Revaluation 31st March 2024
At 31 March 2024
Accumulated depreciation
At 1 April 2023
Charge for the year
Reverse depreciation on revaluation 31 March 2024
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Assets under
construction
Plant and
Equipment
Land (Park &
Library)
Assets (Park &
Library)
Total
£
£
£
£
£
-
49,078
421,689
2,656,481
3,127,248
375,350
-
-
-
375,350
(375,350)
-
298,217
77,134
-
-
-
3,999
(296,052)
(292,053)
-
49,078
723,905
2,437,563
3,210,546
-
33,094
-
438,253
471,347
-
2,284
-
58,166
60,450
-
-
-
(496,419)
(496,419)
-
35,378
-
-
35,378
-
13,700
723,905
2,437,563
3,175,168
-
15,984
421,689
2,218,228
2,655,901

All land and buildings are included at revlaued amounts based on a valuation carried out March 31st 2024 by SCC

11. Investments

At market value
At 1 April 2023
Interest received
Draw downs
At 31 March 2024		 2023/24
£
6,584
328
(80)
6,832

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.

12. Debtors
Amounts due from Sheffield City Council
13. Creditors: amounts falling due within one year
Other loan
Independent examination fees
14. Creditors: amounts falling due after more than one year
Other loan (falling due in less than 5 years)
Other loan (falling due in more than 5 years)		 2023/24
£
1,248
1,248
2023/24
£
7,669
1,248
8,917
2023/24
£
20,782
197,549
218,331		 2022/23
£
950
950
2022/23
£
3,601
950
4,551
2022/23
£
18,974
203,425
222,399

The secured loan from Prudential Borrowing is secured on the assets of Sheffield City Council. The terms of the loan are that it is reapayable over 25 years with interest being applied at 5%.

19

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

Permanent
15. Endowment funds endowment
£
At 1 April 2023 and 31 March 2024 300
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income
Permanent
Endowment funds - prior year endowment
£
At 1 April 2022 and 31 March 2023 300
16. Restricted funds
At 1 April 2023
Expenditure
Revaluation
Income
Balance at 31 March 2024
Investment Fund		 Investment
Funds
Land and
buildings (Less
Loans)
Total
£
£
£
6,000
2,429,901
2,435,901
-
(60,450)
(60,450)
204,366
204,366
-
375,350
375,350
6,000
2,949,168
2,955,168

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 2022
Expenditure
Income
Balance at 31 March 2023
17. Unrestricted funds
At 1 April 2023
Income
Expenditure
Transfer
Balance at 31 March 2024		 Investment
Funds
Land and
buildings
Total
£
£
£
6,000
1,966,184
1,972,184
-
(49,547)
(49,547)
-
513,264
513,264
6,000
2,429,901
2,435,901
General
Funds
Designated
Funds
Total
£
£
£
-
284
284
628,124
-
628,124
(627,876)
-
(627,876)
(248)
248
-
-
532
532

Designated funds represent amounts invested and accumulated interest set aside by the trustees for specific costs as

Unrestricted funds - prior year
At 1 April 2022
Income
Expenditure
Transfer
Balance at 31 March 2023		 General
Funds
Designated
Funds
Total
£
£
£
-
135
135
424,113
-
424,113
(423,965)
-
(423,965)
(149)
149
-
-
284
284

20

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

Investments
Fixed assets
Current assets
Revaluation Reserve
Creditors due within one year
Creditors due after one year
18. Analysis of net assets between funds		 Unrestricted
funds
Restricted
funds
Endowment Total funds
£
£
£
£
532
6,000
300
6,832
-
2,970,802
-
2,970,802
1,248
-
-
1,248
-
204,366
-
204,366
(1,248)
(7,669)
-
(8,917)
-
(218,331)
-
(218,331)
532
2,955,168
300
2,955,999

Analysis of net assets between funds - prior year

Investments
Fixed assets
Current assets
Creditors due within one year
Creditors due after one year		 Unrestricted
funds
Restricted
funds
Endowment Total funds
£
£
£
£
284
6,000
300
6,584
-
2,655,901
-
2,655,901
950
-
-
950
(950)
(3,601)
-
(4,551)
-
(222,399)
-
(222,399)
135
2,435,901
300
2,436,485

19. Ultimate controlling party

The ultimate controlling party is the sole trustee, Sheffield City Council.

20. 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 £574,568 (22/23: £478,146). At the year end £1,248 was owed by Sheffield City Council (22/23: £950).

Unrestricted
Restricted
21. Revaluation Reserve funds funds **Endowment ** Total funds
£ £ £ £
Balance as at 31 March 2023 -
-		 -
-
Gains on revaluation of fixed assets (3,999) (3,999)
Depreciation charges written to Revaluation Reserve (496,419) (496,419)
Losses on revaluation of fixed assets -
296,052		 -
296,052
Balance as at 31 March 2024 -
(204,366)		 -
(204,366)

21