BRIGHT PARK ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PdJARCH 2024 Chaiily regislrBlion number 526085
BRIGHT PARK LEGAL AND ADMINISTRATIVE INFORMATION Trustees Liverpool LighlhoLFS8 Limlled Charlty number 526085 Indèpendent examlner Champion TLL Limited 7-9 Slallon Road Heskelh Bank Preston Lancashlre PR4 SSN
BRIGHT PARK CONTENTS Pag8 Trustees, report Independent examinerfs report Slalem8nl of financial activille8 Balance 8he81 Notes to thè fin2ncial statements 10-19
BRIGHT PARK TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslegs present Ihelr annual report and financial slalemenls for the year enLfed 31 March 2024. The finallcial statements have b&en prepared in accordance wilh Ihe accounting policles sel out In note 1 to the financial slalements and comply with the charity'8 governing document, thè Charilies Act 2011 and "A¢counllng and Reporting by Chafilies= Slalemenl ol Recommended Practice applicable lo charities preparSng thelr a¢counls in accordance wllh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 2019}. Ob}ectlves and actlvltles Charlty Objects The provlslon of Items. services and faGililies lor any schools for children with special educational needs ir) the are8 of beefit. The promotion of th8 6ducallon of per8on8 who are In need of financial assistance who are atlendiFU. or who have al any lime attended a school for Chlldren wllh special educalional ne@ds in the area of benefit. To advan the education of p8rsons rosldent In the ea of benefit, parti¢ulaTly those who hav8 speclal ecSucalional needs, in the subjects of arts, heritage. CLtllur8 and thé enviror)menl. To provide or assist In th8 provlsion of facililies in th8 Interests of social welfare for r6creaUon or other leisure lime occupation of persons re8id&nl in tho area of benefit who have need of such facilities by rea80n of their youth, age, infirmily or disablllly, financial hardship or soclal clrcumslances with the oblecl of Improvlng their conditions of life. Alm and oblectlves Building on ils heritage as a previous mansion hom? renowned for ils beaullful gardens, abandoned since 1998, the main building burned down and landscape fallen into serious disrepalr, the trust alms lo 1. Restora the Park lo ils former beauly. Impiove the habilal and biodiverslly. 2. Provide facili116s for recrealiorb and le18ure for communiltes lo enjoy and improvo Ih8lr wellbeing, especially those with special educallonal n8ed8. 3. Develop programmes on the Park that tsducalo chlldren and young people to look after enwronmenl. 4. Organise and host events and aolivilies for Fesidenls and olhors In art8, heritage and culture for théir nloymenl and education. 5. Work lo rai88 fundlng essenllal for suslgining the Park. Publlc bgneflt The Trusleos have consldeied the Charity Commission guidance regarding publlc benefit and are conlenl that tho Charity has mel the requirements as described above.
BRIGHT PARK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achlevemènts and performance Charllable actlvlll88 During the year, we Compleled Ihreg funded projects covèring thè objectives of the park. Mel up with Sarah Eberle the celebrated RHS award-winnlng Landscape deslgner who agreed lo SuppCt us with our design SiD for the Park Began lo run a Fore81 School pilot progfamme in the park. developlng partnerships with noighbouring prlmary school8 Completed the process of bringing both w8lar and broadbandllelephone lines into the pat1(. Carried oul essential repairs to the Park Lodge property that Is renled out to a l&nant. The repar programma included the Inslallalion of new windows. Appointed the new Programm@ Coordinator who 8180 continued as the Forest School Leader. Friends of Bright Park were honoured wlh an 'RHS Il's Your Neighbourhood Award,, achievlng a Level 4 Thrlvlng slalus. ACTIVITIES DURING 2023-24 Carrying on from the year 2022-23. the final phase of capital reslorallon of the park was lo bring oss8nllal ulllilie8 into the park. By the end of this financial year, we concluded the mission lo commission different providers lo connect the park lo electricity and water. We also installéd a 4-camera CCTV system that monitors and rocord8 everyone who comes on-slle via the main entrae gales. Wth the Inslallalion of a phon& lin8 and inlernel m¢xlem, we could fit)ally promde the W-FI that would enable appointed staff lo access the security system remotely. 111 Forest School Hollday Club Landscapir)g work was concluded In the area ol the park deslgnaled for the setting up of the forest 8chool programme. Wlh funding secured from Awards Foi All and others, we ran two rounds of Forest School programmes for primary-aged children. Two successful ouldoor Holiday Clubs were held during Ihe Eas18r and Summer school breaks, providing children wlh a fun, active, and educational experlence durlng the school holidays. {111 Landscapg Management Programme The hnany Hands project whlch slarled last year has continued. Hundrods of people have volunteered this y8ar, including many from the neighbourhood communilies, students from Myerscough College, a staff team Irom a CAly-b8sed buslne68, Internship students from Liverpool John Moores Unlverslty, and people servlng on the Probation Servicts Payback Team broughl by Ihe Probgllon staff twice a week. Th8 landscape management tasks included i. Scheduled park malnlenanee tasks such as pruning, Irlmrnlng, and tree inspections ii. Removlng Invasive specles iii. P12nling new 8hrubs and trees iv. Creating zones In the park where flowering plants aro sown lo make the park more gllracfive lo regular vlsilors v. Habllal enhancement acllvllles such as buildlng new bird nesls and hedg&hog hou8es In addlllon to those. other volunteers look on the role of gale key holders, opèning up and closing the park to tha communSly. Others volunleered lo monllor the movements and types of blrds and other animals visillng the park, work with the Fore81 School team. do administration tasks, work wllh th8 event8 team, and many more. The work of running 8 park needs so many skllls over long periods that dependlng on paid staff would make such financially unsustainable. {1111 Park Hlre Programme. Bright Park began offering its facilities for hlre to external organisalions and individuals. Wa have idenllfied 5 nalurally occurring zones In the park that could be hired oul for different purposes. This will need proper promollon5 if it is lo brlng income towards making the park sustalnable.
BRIGHT PARK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ilvl Communlty Engagement Programmes Bright Park Introduced several regular community engagement programmes that largel different beneficlary groups Including.. Squirrel Hour for children and Ihelr parenlslguardians Horticulture Tralnlng In partnership with MyeTscough College for adults and young people In thè communities The Bible Conversations programme began In the park inviting the commurAly, once a week 19 come and explore the blble In a natural envlronmenl. With the park now recolvlng dally vlsilors, we embarked on finding out more about the people that engage wllh us. 75Qh of the largel beneficiary groups reported ImpToved knowledge and skill in managing household energy usage and bills by the end of their programme. 900/ts of the largel beneficlary group rèport improvement in mental and physical wollbelng through programs and being In green spaces. 65% of the largel ben6ficlary group acqulred new landscapg management ski11g. Skllls acqulred are valLpble towards mainlalnlng their home gardens and even selling up their own small busln&ss or gelling employment. Over the past year, Bright Park hosl8d a wide range of successful and walkrecelved events that bToughl th8 communlty together. Key highlights included.. Easter Celebration by Temple of Praise Summer Bouncy Bonanza The Klng's Coronalton Celebration Let's CelebTale EuiovisiDn event and Workshops Bright Park Summer Fundraiser Oog Fest 'Chur¢h In the Park, Summér event Autumn Welly Walk 8onfiie Night Fireworks Display Monthly Car boot sales We bullt new rolatlonshlps durlng the year wlth some organlsatlons Includlng Klds Inc they are a Chrlslian Puppet Ihealre. They also do themed walknng 81alion8 durfng Easler and Christma5. Nallonal Energy Actlon - is lookirvJ al brlnging energy-saving & recycling workshops to the park. Northwèst Brltaln In Bloom - who pul us fotward for an award. Healthwatch Llverpool 18 8ignpo81ing our acllvilies and giving advice and seryices on health matters. These expanded our list which already Included Groumlwork Cheshlre & Merseyslde, Knolly Ash Allolmenl8, K[llY Ash Air Force Cadets, Myerscough College, Knotly Ash Prlmary School, Payback Team, and Probation Sèrvlcè. Bright Park secured fundlng from several funders, including.. Morrlson's Foundatlon and Awesome Llverpool for the 'Llttle Llve$ Matter. Project Eleanor Ralhbone Charltable Trust, Award5 for All, and Tho Ralnford Trust for the Sensory Storles Forest School Project PH Holt Foundatlon for the recruilmenl ol new volunteers. Hemby Trust lo purchase new facllllles of a Marquee and a storage conlainer.
BRIGHT PARK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 These ar& a samplg of many poslllve comments made by visllors and other users of the park during the year.. "Quallty place for famlly tlmg. 'Great for events." 'So pèacèful." 'It has glven me morg reasons to leave the house and enjoy the for6st area" 'Great posltlve place for the communlty." "It Is a lovely local oasls. 'Llttl& gem of a park, enjoy a qulet walk around wlth dog The Frlends of 8rlght Park volunteer team grew to 15 membeis, many acqijlring skills and confidence. They 811 slaltsd that they èxperi6nced Improvèd wellbeing and ieduced Isdatlon from volunteering al Bright Park. Brlght Park's four Employèd staff were th8 Program Coordinator, th& Landscap& Mainlgnan¢g SupeNisor, one full-lime placement from the 'New to Nature Project,. rur) by Groundworks UK, and the Bright Park Rosour¢es Dlreclor who had daily ovèrslghl for tho Park. The a¢èmenI operatéd as an Events Assisl&nl for the whole year. Unfortunately, we did not have enough funds lo keop hor on when Ihe placement onded. Unlverslty 12-we9k Int8rnshlp. Ong LJMU sludenl underwent a 12-week internship programme al Bright Park and reported gaining valuable work experience in the role of engaging with the local communlty. Forèst School Loader and Asslstanl. The Forest School Leader was taken on a8 Ihg naw Programme Coordinator for Bright Park. Funding was raised sometimes lo cover the cost of contracting a casual assistant for Fest School when needed. Park fundraising activities over the last 6 months of the year brought in £2,370. Local buslness&s and shops supported our fundraising efforts by donallng in-klnd items and vouchers to our raffles and incentlV8 gitts lo beneficiaries. As tho park1s currenlty silualod in one comer of Knolly Ash & Dovecot Park Ward, b8n8ficiarles continue lo be attrac18d from neighbouring wards covering Yew Tree. Wesl Derby and Kensington & FairField. The board IundarIeS were changed after the May 2023 Loc&1 Councll elections which changed th8 area of the pa from Knolly Ash lo KnollyAsh & Dove¢ol Park ward. The chalr and aMlh&r trustee have reprèsented Brlght Park on the board ol Llverpool Llghlhouse over Ihls period. The board continue8 to look for competent at)d appropriate people lo bTing on lo the Management Commlllee that wlll guide the development of the Park. Flnanclal rovl8w 11 is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained al a level equivalent lo between three and six month's expenditure. The Iruslees consider that reserves at Ihis level will ensure that, in the evenl of a significant dTOP in funding, they will be able lo continue the charity's eurrenl activities while consideration is given to ways in whlch addS1ional funds may be raised. This level of reserves ha8 been maintained throughout th8 year. Reserves pollcy Al th8 year end the Charity held general funds of £62,271 which is malnly for future development, g1vgn the low level of overheads. on the Park development work starts, these reserves will soon be expended and the Trustees are seeking new funding for the development and ongoing maintenance of Ihls project, some of which hos already been Becured, as noted alxive. Al present the ieserves held a sufficient for short-lerm cost commitments, however the reserves policy wlll be revised In future lo take account of day-lo-day running costs once the maln development Is completed.
BRIGHT PARK TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Results for the year The resulls lor the year are summarised on the Slalemenl of Financlal Aclhjitles. The Charlly made a deficit in Ihe year of £15,471. Investmont pollcy and objectlves The Trusl8&S 8xpe¢l th8 cash resource8 to be requlred al short-noti and aro not In 8 P08111on to 'lle-up' monies in exlernal investments al presenl. Inleresl rates available on short leim deposit ale mlnlmal al present, however the Trusloes will continue lo monitor cash levels and any opportunilles lo earn a return on these monies through safe l flexlble Inveslmenl8. Rlsk managoment Th@ Trustees have carried out a rlsk review for the initial development and ongoing acllvilie8 of the Charlly and continually monitor those risks, Iheir polenlial impact, and ways of miligaling Such risks. Plan8 for future perlods Plans for thè park Include those immediately commilled lo from fundings received. and other plans we are looking lo carry out in Ihe next 24 months. Over tha nexl 12 months. we will work lo Doubl8 th8 number of Friends ol Brlghl Park from 15 10 30 people. Expand the park's biodiverslly by creating t)ew habllals for bees, birds, bugs. and pondlife. Create a she51ered space in th8 park in which lo delivei smaller activities when the wealher Is bad. Approach other organisalions in the area that have spaces In Ihelr buildings we can use for indoor-lype aclivilles. Vvork with the Friends Toam lo expand fundrai8lng aclivllies organized by them lo include hosllng small events. iunnlng car boot and tablelop sales, and runnlng furKfralsing raffles where possible. Bring qualily large events lo Bright Park including those for whlch we can charge for allerbdance, another strategy lo raise income. Cieate a children's play area in Ihe park as a way of allracllng parents wllh small Children lo Msit more frequ&nlly. E81ablish a small drinks and snacks and sealing area Café in the park. Establish more health and wellbeing p¥ogrammes In Ihe park. Gel funding lo creala a sports court for netball, football, tennis 81c. Carry out seasonal park landscape maintenance activities. Begin the proce85 needed to 8ubmil a grant applicallon to the H8rilagg Lollery Fund. Apply lo several Tru8ts & Foundations. Local and National Govemmenl funds to raise income for developlng thè park. Work lo establish a partnership to support the development plan8 for the Forest School programmg in the park. Looklno bèyond these, we wlll Find suitable people lo joln the Management Commillee Expand the network ol partner organlsalions lo include schools, colleges, universities, residenllal bodles. businesses, local hospitals, local churches, local councll and other or9anisalions. Work with our partners to come up with an gxciling design concept for the park that will transform the park'8 image and function locally and beyond. 11 is our dream that having had the park passed on lo us, w& want to create 80melhing oulslanding of il that can be p8SS8d on lo lulure generallons.
BRIGHT PARK TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2024 Sel up a thriving Friends L>1 Brighl Park bocsy lo contribute lo Ihe developmenl ol the charily. Apply lo the Heritage Lollery Fund for a large grant lo secure subslanlial grant income that will fund a slep change in the park development programme. Establish a Ihrfving, financially sustainable Foresl School in the park. Develop olher activities iii the park lo Improve Ils overall financial suslain8bilily, one that conlfibules lo the national and global drive lo look after the environmonl and leach others lo do so. structurè, governaiicè and management The chaiily formally known as The Knotty Ash Speclal School Trusl15260851 was Ifanslerred lo Bright Park on 28 September 2011 and registered wilh the Charity Commistsion Enoland and Wales uiider ihe power given in the Ch8rilie8 Act 2011. The Iruslees who $eNed during the year and up to the dale of sSgnalure of the financial slalernenls were.. Liverwol Llghlhouse LimS18d The Iruslees, re]JDrt was approved by th& Board of Tw81e88. Liveip()ol Lighthouse Limil&d Trustee Date..
BRIGHT PARK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRIGHT PARK l Teport lo the Iruslees on my examlnalion ol the financi81 slalemanls of BTighl Park Ilhe charllyl for the year en(ied 31 March 2024. Responslbllllles and ba51s of report As the Iruslees of the charity you are re¥ionsible for the preparation of the financial slalemenl$ in accordance with Ihe requlrements ol the Charities Act 2011 (the 2011 Acll. I report in respect of my examin4lion of charity's financial slalements carrled out under section 145 of the 2011 Act. In carrying out my examination I hav8 followed 811 the applicable Direcllons glv&n by the Charlly Commisston under 8eGlion 145151(bl of the 2011 Act. Indepondent examln&r's statement Your allenliDn is drawn lo the facl Ihat the charlly has prepared financial statements in acCOrdae wllh Aceounling and Reporling by Charities preparing their ac¢ounls in accordance with Ihe Financial R8POrting Slandard appll¢able In the UK and Republlc of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Ch8rilie8.' Slalemenl of Recommended Pracllce issued on 1 April 2005 which Is referred lo In the exlanl regulations bul has now en wilhdrawn. l understand that Ihis has been done in ord8r for financSal slolemenls lo provide a true and fair view in accordance with GenerallyAccepled Accounting Pracllce effèctive foT reporting perlods beginning on or after 1 January 2015. I have completed my examlnalion. I confirm that no matl¢rs have c(Im8 to my allenllon In connection wllh the examin811on giving mè cause lo believe that in any material raspecl- accounting records were not kept in respect of the charity as requlred by section 130 of Ihe 2011 Act,. or the financial stalements do not accord wllh Iho8e records,. or the financial slalemenls do not comply with the applicable reqLfiiemenls concerning the form and Conlonl ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accoun18 glve a IfU& and falr vlew which is not a maller consldered as part of an Indeperidenl examination. I have no conc8rn$ and have come across no other mallers in connection wllh the examination lo whlch atlènlion Should be drawn in this report in order10 8nabl8 a propèr understanding of thè financial slalemenls lo be reache¢J. Champlon TLL Llmlted P Buck FCA, DChA 7-9 Slalion Road He8kelh Bank Preston Laneashirg PR4 8SN Dated,. i¥
BRIGHT PARK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restrlctgd funds funds 2024 2024 Total Unrestrlcted R&strlcted funds funds 2023 2023 Total 2024 2023 Notes Income and 8ndowments from: Donations and legacAes Charitable aclivilies Other trading 8clivilies Inveslm8nls Other Income 24,775 4,618 66.139 90.854 4.616 30,805 57,119 87,924 177 9,638 177 9,638 9.451 665 9,451 605 Total Income 39.518 66.139 105,655 40,820 57.119 97.739 Expenditurè on: Charitable aclivilles 44.308 76,820 121,126 26,680 64,598 91.278 Totsl expendlture 44,306 76.820 121.126 26,680 64,598 91,278 Net Incomelloxpendlturel and movement In funds {4,7901 (10,6811 (15,4711 13.940 17.4791 6,461 Reconclllatlon of funds: Fund balances at 1 Aplll 2023 67,081 15,356 82,417 53.121 22.835 75,956 Fund balances at 31 March 2024 62,271 4,675 66,946 67,061 15,356 82,417 The slalemenl Df financial activities includes all galns and108ses recognised in the year. All IrMe and expenditurg derive from continuing aclivilies.
BRIGHT PARK BALANCE SHEET ASA T31 MARCH2024 2024 2023 Notes Flxed assets Tanglble assets 14 58,625 61,177 Current assets Deblors Cash k)1 bank and in hand 15 17,085 15,040 15,314 10,619 32,125 25,g33 Credltors: amounts falllng due wlthln one y&ar 123,8041 14.8931 Nat current assets 8,321 21.240 Total a$sots le$s curreiit Ilabllltle8 66,946 82.417 Nel assets excludlng penslon Ilablllty 66,946 82.417 The fundy of the charlty Restricted income funds Unreslrided funds 17 4,675 62,271 15,356 67,061 66,946 82,417 The fln8n¢ial slalemenls woro approved by tho Liverpool Li9hthou8e board on . /z Llveipool LighlhousÉ Limitèd Board Iru5te&
BRIGHT PARK NOTES TO THE FINANCIAL STATEfiiENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcl&8 Charlty Informatlon Brighl Park Is a unicorporaled charity. 1.1 Accountlng conventlon The financial slalements have be8n prepared in ac¢ord8nce with Ihé charity's goveming document, Ihe Charities Acl 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 gnd the Charities SORP "Accounting and Reporting by Charities.. Statement ol Recommended PraGllce applicable lo chgrilies preparing Iheir aCUnIS In accoTdance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102)" leffeclive 1 January 2019). The charity 15 a Public Benefil Enlily as d8fined by FRS 102. The charlly has taken adVante of the provisions in the SORP for charflle8 not to prepare a Slalemenl ol Ca8h Flows. The financial st8lemenls have departed from the Charilles (Accounts and Reports) Regulalions 2008 only to the extent required lo provide a true and falr vlew. This departure has involved followlng th6 Slalemenl of Reco>mmended Pracli¢o for ¢harilie5 applying FRS 102 rather than the version of the Slalement of Recommended Praclico which is referred lo In the Regulallons but which has since been wilhdr8wri. The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amoun18 In these flnanclal slalemenls are rounded lo the n?aresl £. The financial slalemenls have been prepargd under the hlslorlcal cost convenllon, modified lo include the revaluation of freehold propertiès 2nd lo include investment propertles and certaln financial instruments al fair value. The principal aOUntIng policies adopted are sel out b610w. 1.2 Golng concern Al the lime of approvlng tho financlal slalemenls, Ihe Iruslees have a reasonable expectation that Ihe chartly has adequate resources lo Continue in operational existence for the foreseeable fulure. Thus the trile&S continue lo adopt the going concern basls of accounllng IN preparing the financial stalemenls. q.3 Charltable funds Unreslrlcled funds are available for use at the discretion of th& trustees In furtherance of Ihelr charitable objectives. Deslgnaled funds are free reserves that have been designated by the Iruslees for specific purposes. These are further d18closed in the noles lo the accounts. Restricted funds are Sublecl to 8peclflc condllions by donors or grantors as lo how they may b8 used. The purposes and uses of the reslrlcled ftsnds ale sel out In the ngles lo the financial slalémenls. Endowment ndS are sublecl 10 8pecific conditions by donors that th8 ¢apilal musl be m3inlained by the charity. 1.4 Income Income is recognlsèd when the eharily is legally enlilled lo il after any p6rformance conditions have been mel, the amounts can be measured reliably, and il is probable that incom8 will be received. Cash donallons are recognlsed on receipt. Other donations are recogni8ed once the charlly has been notified of the donallon, unless p8rf¢)miance condillons require deferral of Ihe amount. Income lax recoverable In relation lo donations recelved uTrdèr Gift Aid or deeds of covenant is recogni$8d al the lime of the donation. 10-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies Icontlnuèdl Legacios are recognised on receipt or otherwise If the charity has been notifièd of an impending dislribulion, the amount is known, and receipt is expected. If the amount Is not known. Ihe legacy is treated as a conlingenl asset. 1.5 Expendlture Expendilure is recognised once Ihere Is a legal or constructive obligation lo transfer economlc benefit to a third party, It Is probable that a transfer of enoMiC benefits will be rtsqulfftd In selll8m8nl. and the amount of Iho obligallon can be measured reliably. Expendlture Is classified by activity. The costs of each aclivily aro mad8 up of the lolal of dir*t cos18 and shared costs, including 8UPPOrt costs involved in undertaking each aclivily. Dlrecl co819 allribulable lo a slngle activity are allocated directly lo that aclivily. Shared costs which contribut8 to more than one activity and support ¢osls which are not allribulable lo a single Bctivily 8r6 8pportiDn8d between those activities on a basis consislenl with the u8e of resources. Central staff costs are allo¢aled on the basls of Ilme spent, and depreclatlon charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed assets Tangiblo fixed assets are initially measured 81 cogt and subsequently measured at cosl or valualion. nel ol dapre¢iation and any impalrmenl losses. Depreciation is recognised so as to wrlle off the c081 or valuallon of assels less their residual values over Iheir useful lives on the following b8se8'. Freehold land and buildings Leasehold improvements Plant and equlpmenl Fixlurgs and fillings Computers En16r depreclallon rale via StalDB- cd74 2Dh on cost 20% on reducing balance 20% stralghl line Enter depreciation rale via StalDB- cd198 The gain or loss arising on the disposal of an asset Is determined as Ihe difference between the sale proceeds and the carrying valu8 of the asset, and is recognised in the Statement of ftnanclal aclivS1ies. 1.7 Impalrment of flxed assets At each reportlng end dale, the charity reviews the carrying 8moiJnls DI Ils langlble 888ets lo delermlna whether Iheie is any indication Ihal IhDS8 assets h8vg suffered an impairment loss. If any such indlcallon exist8, the recovérable amount of Ihe asset is eslimaled in order to delemiints the 8xlenl of the impairment 108s111 any). 1.8 Cash 8nd cash equ5valents Cash and cash equivalents include cash in hand, deposits held al call wlth banks, other short-lemi liquid inveslmenls with original malurilies of three months or less. and bank oveidraft8. 8ank overdrafts are shown within borrowings In Gurrenl liabllilies. 1.9 Flnanclal Inslruments The charity has eleeted 10 8pply the provlsions of Sectlon 11 'Basic Flnancial Instruments, and Section 12 'Olher Finarcial Inslrumenls Issues, of FRS 102 10 all of Ils financlal1nslruments. Financial inslrumenls are recognised in th8 charity's balan sheel when the charlly bècomes party lo Ihe conlraclual provisions of the inslrumenl. Financial a88els and Ilabililies are offset, wilh the nel amounts presented In Ihe finarla1 slalemenls. en Iheré18 a legally enforceable righl lo sel off the recognised amounts and there15 an Inl6nllDn 10 8etlle on a T)el basls or to realise the asset and sellle the liabllily simultaneously. 11
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AGGountlng pollclos Icontlnuedl Baslc flnanclal assets Basic financial 8s8e18, which include debtors and cash and bank balances, are initially measured at transaction prlce Includlng Iransactlon costs and are subsequently carried al amortlsed cost using the effaclive inloresl mglhod unless the arfangemenl conslilules a financlng transaction, where (he transaction 18 measured al the present value of the future receipts dlscoLrnled al a market rate of interest. Financial assets dassified as recelvable wllhln on6 year are not amortised. Basic fiTnancffal liabilitles Basic financial Ilabllilies, includirtg cieditors and barik loans are inllially recognised al transaction prlce unless the arrangement conslilules a financing IransacUon, where the debt instrument is measured al the present value of the fulura payments disGounled al a markel rate of interest. Financial li8bililies classified 8s payable wilhln onB year are not amorlised. Debt Instruments ar8 subsequently carried al amortised cost, using the effective interest ral8 mglhod. Trade creditors are obllgallons lo pay for good5 or services that have been acquired in the Drdinary Cours8 01 optsralions from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or 188s. If nol, they are presented ag ntsn-curfenl liabililies. Trade creditors are recogriised initially al Iransactlon prlco and subsequently measured al amortlsed cost using the effecllv& interest m@Ihod. Derecognition of financlal Ilabllltles Financial Ilabllllles ale derecognised when the charity's conlraclual obligallons expire or ar8 discharged or can¢èll&d. 1.10 Employeè benoflts The Cost of any unused holiday enlillement Is réctrgnlsed in the period in which the employee's services ar recelved. Teminailon benefits are recognised immediately as an expense when the charity is demonstrably commilled to lerminale the employmenl of an employee Dr to provide lermin8lion b8n@fvls. Crltlcal accountlng gstlmates and Judgements In the application of Iha charity's a¢counling policies, the Iiuslees ale required lo make ludg8menls, 8slimatgs and assumptions atK)ul the carrying amount of assets and liabllllles Ihal are not readily apparent from olher sourc&s. The eslimal8s and associated assumptions are based on historical &xperi&nce and olhgr factors that are con8ldered lo be relèvant. Actual result8 may differ from these esllmales. The estlm8les and underlylng as8umplions are reviewed on an ongolng basis. Revisions lo accounting e81imalgs are recognised in the perlod It) which the esllmate is revised where the revision affects lY that period. or in the period of the revlslon and future perlods where Ihe revision affects both current and futur6 P8rlods. 72-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomè from donatlons and IBgacles Unrestrlcted Reslrlct&d lunds funds 2024 2024 Total Unrestrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Donations and gifts Granls 715 24.OOLI 715 90,139 6,805 24,000 6,805 81,119 66.139 57,119 24,715 66,139 90,8S4 30,805 57.119 87,924 Grants recelvable for core actlvllltrs Veolia Community Environment Fund Tha Poslcode Lottery Wesl Derby Wa81eland Charily The Lancaster Foundation The National Lollery Aw8rds lorAII Morrisons Groundwork UK Other 17,582 17,582 11,935 24,602 11,935 24,602 3,675 3.675 3,000 3,000 24,000 24,000 11,193 9.969 8,830 18,272 14,200 24,000 24,000 11,193 9,969 8,830 18,272 14,200 24,000 66,139 90,139 24.000 57,119 81,119 Incoma from charltable actlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Educatlon and recreatlon facllStès d8V8lopment Sale ol goDds Charilable rental Income Olh8r In¢ome 3.269 695 652 4,616 13-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Incomo from other tradlng actlvltle5 Unrestrlcted Unrestrlcted funds funds 2024 2023 Fundraislng events Shop Income 69 97 80 Other tradlng activities 177 Ihcomg from Investments Unrestrlcted Unr6strlcted funds funds 2024 2023 Renlal income Interest receivable 9.451 9,293 345 9,451 9,638 other Income Unrestrlcted Unrestrlcted funds funds 2024 2023 Other income 665 14-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expendlture on charltable acllvllles Educatlon Educallon and and recreatlon rècreation facllltes facllltes dovelopmèn dovelopmen 2024 2023 Dlrect costs Staff costs Deweclalion and Impalrmenl Programme fees Light and heal Repalrs and renewals Event costs Travel costs Office costs Markellng costs Volunteer expens68 Professional fees 77,976 8,857 10,253 2,346 8,637 1,780 59,651 8,152 2,293 402 9,095 1,686 926 1,096 109 6,448 522 3,692 183 4,646 118,428 90,408 Sharg of support and governance costs (see note 91 Govemance 2.700 870 121,726 91.278 Analys15 by fund Unre81iicled funds R8slricled funds 44,306 76,820 26,680 84,598 121.126 91,278 Support costs allocated to actlvltles 2024 2023 Govemance costs 2,700 870 Analysed botween: Edijcalion and recreation facillles dovelopmenl 2,700 870 15-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Net movemont In funds 2024 2023 The nel mov6menl In funds is slated after charglngllcredlllngl.. Depreciation of owned lengible fixed assets 8,856 8,151 11 Trustges Non8 of the tiuslees lor any persons conn6cled wllh them) recelved any remuneration or b6nollts from the charily during the year. 12 Employ88s The average monlhly number of 8mployeg8 during the year was.. 2024 Numbèr 2023 Number Employment costs 2024 2023 Wages and salarie8 77,978 59,651 There were no èmployees whose annual remunerallon was more than £60,000. 13 Taxatlon The charity is exen7pI from laxalion on ils aclivlltes because all Ils income is applled for charllable purposes.
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tanglbl& flx8d assets Fr68hold laNI and bulldings Plant and Flxtures and equlpment fIIng$ Computers Total Cost At 1 April 2023 A(klilions 39,068 1,998 13,778 2,238 22.049 2,070 4,963 79,858 6,306 Al 31 March 2024 41,066 16,D16 24,119 4.963 88.164 Depreclatlon and Impalrmènt Al 1 April 2023 Deprecialiori charged in the year 3,965 813 9,392 2,246 4,799 4,804 527 993 18,683 8,856 At 31 March 2024 4,778 11,638 9,603 1,520 27,539 Carrylnp amount Al 31 March 2024 36,288 4,378 14,516 3,443 58,625 Al 31 March 2023 4,387 17,250 4,436 61,177 15 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Amounts owed by fellow group undertaklngs 2,565 14.520 794 14,520 17,085 15,314 16 credltors: amount8 falllng due wlthln one ytr&r 2024 2023 Trade creditors Amounts owed lo fellow group UertakIngS Accruals and deleried Income 20,022 1,382 2.400 2,642 1,391 660 23.804 4,693 17-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 17 Rèstrlcted funds The reslricled funds of the ¢harW comprlse the unexpended balances of donations and grants held on trust subl8cI to speclfic ¢ondilions by donors as lo how they may be used. At q Aprll 2023 Incomlng Resources At 31 March rosourcos expended 2024 15,356 115,356) 111,193} 14,500} 11,9501 National Ltsllery Eleanor Ralhbone Charllable Trust Liverpool City Couwil HembyTrust Nalic>nal Lollery. Forest School Morlisons Foundation New lo Nature PH Holl Rainford Trust The Woodward Trust Wesl Derby Capital 11,193 4,500 1,950 1,000 9,969 8,830 18,272 5,000 1.000 750 3.675 1,000 19,969} 18,830) (18,272) 15,0001 14,0001 17501 3.675 15,356 66.139 176,8201 4,875 Prevlous year.. At l April 2022 Incomlng resources Resources At 31 March xpended 2023 22,835 57.119 (64,5981 15,356 18 Unrestrl¢tod funds The unreslilcted funds of the chaiily comprise the unexpended balances of donations and grants which are not subjecl to specific condillons by dtsnor8 and grantors as to how Ihey may be used. These include de8lgna16d funds whlch have been sel a8lde out of unreslricled funds by the trustees for specifvc purposes. At 1 Aprll 2023 Incomlng Resources At 31 March resources expended 2024 General funds 67,061 39,516 144.306) 62.271 Prevlous year: At1 Aprll 2022 Incomlng resourcos Resources At 31 March exponded 2023 Ggneral funds 53.121 40,620 126.680) 67,061 18-
BRIGHT PARK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Analysls of net a$set8 betwe&n funds Unregtrlcted fundy 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024.. Tangible assets Current ass8lsllliabililiesl 58,625 3,646 58,625 8,321 4,675 62,271 4,675 66,946 Unrgslrlcted funds 2023 Restrlcted funds 2023 Total 2023 At 31 March 2023.. Tangible assBIs Curienl asselsllliabilili@s) 61,177 5,884 81.177 21.240 15,356 67,061 15,358 82,417 20 Relatèd party transactlons Love and Joy Mlnlslrles Ltd (Company No.05283980, Charlly No.11070291 also have two Iru8tees in common with Liverpool Li9hlhou8e Limited. Al the year end Love and Joy Ministries owed £NIL lo Bright Park 12023.. £NILI, bul were owed £21,254 from 8righl Park12023: £1,391). Liverpool Lighlhou8e Is the sole trustee of the charily at the year end an amount of £14.52012023.'£14,5201 was owed from Llverpotsl Lighlhouse and £NIL was owed lo Liverpool Llghlhouse12023-. £NILI Land and building malnlained by Bright Park Char¢ly are held in trust by Liverpool Lighlhouse Llmiled. No value has y61 been plad on these assets which have been donated at £Nil cosl lo the Charity, The a8sets would have a 81gnificanl market value il a valuallon were carrled out 21 Golng Concern The Charlly currenlty has net curr&nl assets however the performance Ihis year has generated a deficit whl¢h has reduced the reserve levels 8g3in81 largel las noted in the Trustees roportl. The Trustees have produced foTecasl8 for the n8xl 2 years which show 8urpluse8 are expected in both years. A8 a result the accounts afe prepared on a Going Conrn basls.