Charity registration number 1152818
Company registration number 08146794 (England and Wales)
WANDLE VALLEY REGIONAL PARK TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
WANDLE VALLEY REGIONAL PARK TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A Burton
J McCoy
C Newill
D Webb
J Gould
(Appointed 19 January 2023)
N Irons
(Appointed 19 August 2022)
S Roche
(Appointed 1 August 2022)
B Lewis
(Appointed 4 July 2022)
J Foy
(Appointed 20 April 2022)
Charity number
1152818
Company number
08146794
Principal address
The Old Bookshop
Morden Hall Park
Merton
London
SM4 5JD
Registered office
The Old Bookshop
Morden Hall Park
Merton
London
SM4 5JD
Independent examiner
Anthony Epstein FCA
Paragon Partners Limited
Churchill House
137 - 139 Brent Street
London
NW4 4DJ
WANDLE VALLEY REGIONAL PARK TRUST
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 8
WANDLE VALLEY REGIONAL PARK TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.

Objectives and activities

The Trust’s revised objects (at 4th July 2013) are set out in Article 4 of the revised Articles of Association for the Trust, and specifically restricted to the following:

To promote such charitable purposes for the benefit of the public and relating to the Wandle Valley as the trustees/directors see fit from time to time by all or any of the following means:

 

1. To promote for the benefit of the public the conservation, protection and improvement of the physical and natural environment within the Wandle Valley.

 

2. To promote the preservation of buildings or sites of historic or architectural importance in the Wandle Valley.

 

3. To provide facilities for recreation or other leisure time occupation in the Wandle Valley for the public at large or those by reason of their youth, age, infirmity, disablement, financial hardship or social or economic circumstances, have need of such facilities in the interests of social welfare or improving the conditions of life for the public or such persons.

 

4. The relief of unemployment amongst residents of the Wandle Valley for the benefit of the public in such ways as the trustees/directors may think fit, including assistance to find employment.

 

5. Such other charitable purposes as the trustees/directors may from time to time determine subject to the prior written consent of the Commission.

 

For the purposes of this article 4 “Wandle Valley” means the area in the London Boroughs of Croydon, Merton, Sutton and Wandsworth which lies within one point six (1.6) kilometers of the boundary of the Wandle Valley Regional Park.

 

For the purposes of this article 4 “Wandle Valley Regional Park” means the area shown as such in the London Plan 2011 published by the Greater London Authority.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Trust's work is led by our Strategy launched in 2017. We spent time during the year considering next steps following completion of the National Lottery Heritage Fund supported Resilient Heritage project exploring future options for the organisation. This work is ongoing.

Financial review

The excess of expenditure over income for the year of £1,898 has been deducted from the Income Account, which at the balance sheet date stood at £27,158.

Reserve policy

In formulating the reserves policy the trustees aim to ensure that adequate resources are available to meet with foreseeable contingencies including cessation or interruptions to funding.

Risk management

The trustees are satisfied that systems are in place to mitigate exposure to the major risks to the organisation.

WANDLE VALLEY REGIONAL PARK TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Structure, governance and management

The Wandle Valley Regional Park Trust is a charity and constituted as a company limited by guarantee as defined by the Companies Act 2006 and is controlled by its Memorandum and Article of Association

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

A Burton
N Draper
(Resigned 17 May 2023)
N Durston
(Resigned 22 April 2022)
J McCoy
S McDermott
(Resigned 24 May 2023)
C Newill
D Webb
J Cheetham
(Resigned 17 May 2023)
L Attawar
(Resigned 17 May 2023)
G Humphries
(Resigned 24 May 2023)
M Abellan
(Resigned 22 May 2023)
J Gould
(Appointed 19 January 2023)
N Irons
(Appointed 19 August 2022)
S Roche
(Appointed 1 August 2022)
B Lewis
(Appointed 4 July 2022)
J Foy
(Appointed 20 April 2022)

None of the trustees has any beneficial interest in the company.

The trustees report was approved by the Board of Trustees.

A Burton
Trustee
15 November 2023
WANDLE VALLEY REGIONAL PARK TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WANDLE VALLEY REGIONAL PARK TRUST
- 3 -

I report to the trustees on my examination of the financial statements of Wandle Valley Regional Park Trust (the charity) for the year ended 31 March 2023.

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

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.

Anthony Epstein FCA
Paragon Partners Limited
Churchill House
137 - 139 Brent Street
London
NW4 4DJ
Dated: 15 November 2023
WANDLE VALLEY REGIONAL PARK TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Expenditure on:
Charitable activities
3
432
448

Governance costs

1,466
835
Total expenditure
1,898
1,283
Net expenditure for the year/
Net movement in funds
(1,898)
(1,283)
Fund balances at 1 April 2022
29,056
30,339
Fund balances at 31 March 2023
27,158
29,056

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
WANDLE VALLEY REGIONAL PARK TRUST
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
29,046
30,186
Creditors: amounts falling due within one year
7
(1,888)
(1,130)
Net current assets
27,158
29,056
Income funds
Unrestricted funds
27,158
29,056
27,158
29,056

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 15 November 2023
A Burton
Trustee
Company registration number 08146794
WANDLE VALLEY REGIONAL PARK TRUST
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

Wandle Valley Regional Park Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Bookshop, Morden Hall Park, Merton, London, SM4 5JD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on cost
WANDLE VALLEY REGIONAL PARK TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8

Taxation

The company does not trade with a view to profit and all income is applied in furtherance of the charitable objects of the company. In the opinion of the trustees/directors grant funding received from local Authorities is outside the scope of the Income and Corporation Taxes Acts.

1.9

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

WANDLE VALLEY REGIONAL PARK TRUST
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
3
Charitable activities

Regional park core

Regional park core

2023
2022
£
£

Advertising and promotion

-
(600)

Other costs

432
1,048
432
448
432
448
4
Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

5
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
6
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
648
-
Accruals and deferred income
1,240
1,130
1,888
1,130
8
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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