IRIS Accounts Production v24.3.0.553 Other Company accounts True false Pounds 1.10.23 30.9.24 30.9.24 FY FRS 102 Independent examiner Small companies regime for accounts Full Charities SORP true true true true true false true false true 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042919332023-09-30042919332024-09-30042919332023-10-012024-09-30042919332022-09-30042919332022-10-012023-09-30042919332023-09-3004291933ns0:CharitableCompanyLimitedByGuarantee2023-10-012024-09-3004291933ns15:PoundSterling2023-10-012024-09-3004291933ns11:FRS1022023-10-012024-09-3004291933ns11:IndependentExaminationCharity2023-10-012024-09-3004291933ns11:SmallCompaniesRegimeForAccounts2023-10-012024-09-3004291933ns11:FullAccounts2023-10-012024-09-3004291933ns11:CharitiesSORP2023-10-012024-09-3004291933ns16:EnglandWales2023-10-012024-09-3004291933ns11:RegisteredOffice2023-10-012024-09-3004291933ns0:Trustee22023-10-012024-09-3004291933ns0:Trustee32023-10-012024-09-3004291933ns0:Trustee42023-10-012024-09-3004291933ns0:Trustee52023-10-012024-09-3004291933ns0:Trustee62023-10-012024-09-3004291933ns0:Trustee72023-10-012024-09-3004291933ns0:Trustee82023-10-012024-09-3004291933ns0:Trustee92023-10-012024-09-3004291933ns0:Trustee102023-10-012024-09-3004291933ns0:Trustee12023-10-012024-09-3004291933ns0:TotalUnrestrictedFunds2023-10-012024-09-3004291933ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3004291933ns0:Activity82023-10-012024-09-3004291933ns0:TotalUnrestrictedFundsns0:Activity82023-10-012024-09-3004291933ns0:Activity8ns0:TotalRestrictedIncomeFunds2023-10-012024-09-3004291933ns0:Activity82022-10-012023-09-3004291933ns0:TotalUnrestrictedFunds2023-09-3004291933ns0:TotalRestrictedIncomeFunds2023-09-3004291933ns0:TotalUnrestrictedFunds2024-09-3004291933ns0:TotalRestrictedIncomeFunds2024-09-3004291933ns0:TotalUnrestrictedFundsns10:WithinOneYear2024-09-3004291933ns10:WithinOneYearns0:TotalRestrictedIncomeFunds2024-09-3004291933ns10:WithinOneYear2024-09-3004291933ns10:WithinOneYear2023-09-300429193322023-10-012024-09-3004291933ns0:TotalUnrestrictedFunds2022-10-012023-09-3004291933ns0:TotalRestrictedIncomeFunds2022-10-012023-09-3004291933ns0:TotalUnrestrictedFundsns0:Activity82022-10-012023-09-3004291933ns0:Activity8ns0:TotalRestrictedIncomeFunds2022-10-012023-09-30
REGISTERED COMPANY NUMBER: 04291933 (England and Wales)
REGISTERED CHARITY NUMBER: 1094149














REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Report of the Trustees 1 to 5

Independent Examiner's Report 6

Statement of Financial Activities 7

Balance Sheet 8

Notes to the Financial Statements 9 to 13

SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The object for which company is established are to provide and manage a park for the use of and benefit of the inhabitants of Louth and District without distinction of sex or of political, religious, or other opinions for the advancement of education and the provision of facilities in the interest of social welfare or recreational and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. The park was funded by the community and under construction from 2002 to March 2008, when it was open to the public.

Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit and complied with section 17(5) of the 2011 Charities act when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The activities of the charity is provision of a recreational park in Louth.

Gallery
The Gallery has consolidated the success of last year to become an important pillar of the cultural life of Louth. As well as providing an opportunity for artists to display their work, the Gallery is enabling people to engage with art including through workshops and classes. We are grateful to Glynne Bulman and all others concerned.

A separate report on the Gallery is provided.

Park
Thanks to the efforts of Vicky Clark and a team of volunteers, the Park gardens continue to provide a beautiful oasis in the heart of the town. On a sunny Summer's day - of which there have been, sadly, few - it has been a joy to see people enjoying what the Park has to offer.

The ever-popular play equipment was subject to a Royal Society for the Prevention of Accidents (RoSPA) inspection during the year. No issues were identified with the equipment itself. One or two minor issues were identified with the surroundings (e.g. broken fence) and these have been rectified.

We were delighted that Louth WI (aka the Rolling Scones) chose us as their nominated charity this year. Their donation represents a significant contribution to the cost of keeping the Park maintained. We are very grateful.

Kiosk
The Kiosk, a small-scale operation selling drinks, ice cream etc, continues to be entirely run by volunteers. Despite the constraints of the voluntary model, the weather and the need to fund a repair to the coffee machine, the Kiosk has made a profit over the year. Particular thanks go to Wendy Moore and her team for their energy and enthusiasm in opening the Kiosk on days throughout the Summer.

The Kiosk has also been serving a wider community purpose by offering people an opportunity to experience a commercial environment and to interact with others in a commercial context. Pupils from St Bernard's School and people from Virginia House have been regulars behind the counter and, we understand, all enjoyed and valued the experience. It was a pleasure to have them on board.


SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024


ACHIEVEMENT AND PERFORMANCE
Events
As well as organising events themselves, the Trustees, in line with the community purpose of SYG&P, have offered the facility for community events (a donation is always welcome!).

The first event of the Financial Year was a Hallowe'en party organised by the Trustees. This was a great success - free crafts for children, hot dogs and soup and spooky songs from the Louth Can't Sing Choir (who can actually sing very well!). We are incredibly grateful to a huge number of people for their help with the event including art witches, cake-bakers, soup-makers, kiosk-helpers and park-decorators (and un-decorators).

Community events this year have included a fundraiser for the Friends of Fierce and a Vintage Day organised by the Lincolnshire Lindy Hop Club.

A mention of the contribution which SYG&P made to the Louth Christmas Tree festival at St James' Church. Our tree, decorated by Vicky Clark, look great and served to maintain our profile in the Town.

Becky Moll has been a key player in whipping-up enthusiasm for events, including through social media. Thank you, Becky.

Issues
Thankfully, vandalism and anti-social behaviour, while inevitable, remains at a low-level. This is substantially down to our gate keepers who shut the Park in the evening and open it the next day.

There was an unfortunate incident of an individual making malicious and extremely hurtful allegations, including online, against certain volunteers. Thanks go to Heather Robinson for liaising with the Police who have been very helpful in the matter. We have written to the individual concerned and there have been no further reoccurences so far.

The main maintenance issue was a mysterious leak/ puddle which appeared near the entrance arbour during the wet weather in the Spring. Vicky Clark pursued with a number of authorities but no cause was ever found and the leak resolved itself. A tentative conclusion is that it was something to do with underground springs or groundwater and related to the exceptional levels of rainfall.

Rubbish has been kept under control, mainly due to exceptional efforts by Vicky and David Clark. It is not sustainable that we continue to trespass on Vicky and David's goodwill and we will consider an alternative solution for next year.

There were some signs of rodent activity in the Gallery. However, this seemed to resolve itself following a visit by pest controllers to the Platform Housing development next door. We investigated the Gallery loft for possible rodent incursion but no evidence of this was found.

The leak in the Gallery roof appears to be getting worse. We think this is caused by a failure of the flashing at the junction between the Gallery and the Platform Housing development. We are pursuing with the Platform Housing maintenance team.

We are extremely grateful to Lovelle's for choosing to use their staff volunteering day for the benefit of the Park. We hope those concerned have had the opportunity to see that the newly-restored table and benches are being put to very good use.

Personnel
Resignations from the Trustees during the year: Mitch Pegg, Lisa Hindley, Wendy Moore, Kristi Lamb, Becky Moll (resigning at the AGM). Each has made a huge contribution to SYG&P by giving freely of their unique talents. We are incredibly grateful for the difference they have made.

We welcome John Bicknell as our new Treasurer.

The Trustees continue to operate without a Chair. This has not presented any problems. As things stand, no one has nominated themselves to take on the role. However, one person has expressed an interest in taking on the Chair-ship at a future date.

Special thanks to Heather Robinson, our Secretary, who has facilitated Trustee meetings and organised the AGM.


SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024


ACHIEVEMENT AND PERFORMANCE
Gallery
When Richard Glet, Wendy House and I took on the running of the gallery in September '23 we set out our aims to the trustees. These were:
- To see this purpose built facility used as much as possible
- To promote the work of artists in the area, with a policy of showing artists living and working within a 30mile
radius of Louth
- To ensure that the use of the gallery was affordable and therefore accessible to all and any members of our
community interested in the Arts
- To subsidise the exhibitions by running workshops at an affordable price. Giving our expertise and teaching skills
on a purely voluntary basis

In the past twelve months we feel we have achieved our aims. We have staged 8 exhibitions, the gallery is in use or open 7 days a week; hosting a portrait drawing groups, a Tai chi group, an art workshop, Life drawing and two sessions for the refugees in our area. Spout Yard Gallery is gradually becoming known as a safe and creative space for our community to come together. We have contributed to events involving the park and kiosk and we strive to work as a team, all together, promoting this valuable community asset.

In November '23 we held our first 'Open' Exhibition, we have built upon that success and our 'Open' 24 is on the walls now, showcasing the talent from our area. Our 'Open 25' is already on the calendar and ready to grow further with plans to instigate an under 18 element to the show. Earlier this year we held a Words and Pictures show, a diverse exhibition combining artists and poets responses to each other's work. For 2025 this idea has been expanded to bring together more creative writers and visual artists to work in tandem in their chosen disciplines. Also next year we have plans to work with other art venues in Louth to create an art trail to exhibit the work of the Lincolnshire Arts Society, the brain child of our friend and supporter, Lainy Dalzeill, and we aim to put Spout Yard Gallery literally on the map so everyone can find us. In the New Year we plan to incorporate poetry workshops into our programme - please check our social media accounts for news about these. We are also looking to promote a project with the park that encourages the creative to look at environmental issues and focuses on sustainability in particular.

We feel that the gallery has a bright future and can build to become a central cog in the workings of Louth's creative community.

Glynne Bulman

FINANCIAL REVIEW
Financial position
The free reserves of the charity at the balance sheet date are £29,185 (2023 - £25,617).

Reserves policy
Reserves are regularly monitored to ensure they meet the requirements for the charity to continue to operate.


SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024


FUTURE PLANS
In 2022, SYG&P was in faced with needing to reinvigorate after the Pandemic. There were genuine concerns that it would not be possible to continue. But thanks to the energy and enthusiasm of some exceptional people and some generous donations, the Trustees are happy to report, tentatively, that things are turning a corner. This means that we are in the position of being to think about directions which will sustain and enhance SYG&P in the longer-term. Our thinking is detailed below:

- Professional gardening so that this substantial task does not make unreasonable demands on our team of
volunteers. Pre-winter work has been carried out by a contract gardener and we will consider options for future
contract gardening. Vicky Clark - who unfortunately has had to step down from physical gardening for health
reasons - has kindly agreed to be our Executive Gardener. This means we will still have the benefit of Vicky's
ideas and vision.
- Find a waste solution which does not trespass on the goodwill of volunteers. We explored options with East
Lindsey District Council in the 2023/24 Financial Year but they were unable to provide a suitable service. We
will consider the issue further over the Winter.
- Kiosk. As things stand, and bearing in mind the Kiosk made a profit in the Financial Year, we think we should
continue with the voluntary model. More volunteers would, of course, be welcome. We will also be pleased to
continue to offer the Kiosk as an experience opportunity to St Bernard's and Virginia House and we would be
happy to consider approaches from similar organisations. We are grateful to Louth Town Council for their grant
to pay for a coffee grinder. This will make the preparation of coffee much easier and the results less "variable" in
quality. We may have to consider replacing Kiosk equipment in the year - possibly the coffee machine and the
freezer.
- Build on the success of the Gallery. We are grateful to Louth Town Council for their grant to pay for wifi - an
important tool for creativity in a digital age!
- Recruit and engage with volunteers. We hope that by publicising the work of SYG&P more volunteers will step
forward. Recognising the importance of engaging volunteers with what is happening and appreciating their
contribution, we are considering introducing some sort of engagement tool, possibly a newsletter.
- Explore new directions. We are keen to trial new ideas for maximising the use of our facilities and our
contribution to the community. To this end, we are working with theatre company a Certain Demographic to
explore the possibility of hosting a performance of mystery plays in Summer 2025. We are receptive to other
ideas.
- New funding approaches. Should the need arise to raise funding we will explore options such as a membership
scheme.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a company limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The charity seeks to appoint trustees from persons who share the same ethos. It seeks to identify those most suitable to bring a balance of skills or strengths to the board.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04291933 (England and Wales)

Registered Charity number
1094149

Registered office
Spout Yard Park
Ludgate
LOUTH
LN11 0NW


SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Trustees
M. J. Pegg (resigned 14.11.23)
R Moll
W A Moore (resigned 4.4.24)
V J Clark
K L Lamb (appointed 19.10.23) (resigned 1.8.24)
K A Mansfield (appointed 14.11.23)
H D Robinson
L M J Hindley (resigned 16.1.24)
G A Bulman (appointed 6.4.24)
J P Bicknell (appointed 25.6.24)

Independent Examiner
Helen Spauls FCA
Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Spout Yard Park Management Trust Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 18 November 2024 and signed on its behalf by:





J P Bicknell - Trustee

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)


Independent examiner's report to the trustees of Spout Yard Park Management Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the 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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.








Helen Spauls FCA

Smethurst & Co LLP
12 Abbey Road
GRIMSBY
DN32 0HL

18 November 2024

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2024

30.9.24 30.9.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2,426 4,000 6,426 2,833

Charitable activities
Core 6,198 - 6,198 1,902

Investment income 2 326 - 326 -
Total 8,950 4,000 12,950 4,735

EXPENDITURE ON
Charitable activities
Core 5,382 4,000 9,382 8,867

NET INCOME/(EXPENDITURE) 3,568 - 3,568 (4,132 )


RECONCILIATION OF FUNDS
Total funds brought forward 25,617 - 25,617 29,749

TOTAL FUNDS CARRIED FORWARD 29,185 - 29,185 25,617

SPOUT YARD PARK MANAGEMENT TRUST LIMITED (REGISTERED NUMBER: 04291933)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
CURRENT ASSETS
Debtors 7 - - - 2,040
Cash at bank and in hand 30,587 - 30,587 26,551
30,587 - 30,587 28,591

CREDITORS
Amounts falling due within one year 8 (1,402 ) - (1,402 ) (2,974 )

NET CURRENT ASSETS 29,185 - 29,185 25,617

TOTAL ASSETS LESS CURRENT LIABILITIES 29,185 - 29,185 25,617

NET ASSETS 29,185 - 29,185 25,617
FUNDS 9
Unrestricted funds 29,185 25,617
TOTAL FUNDS 29,185 25,617

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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


The financial statements were approved by the Board of Trustees and authorised for issue on 18 November 2024 and were signed on its behalf by:





J P Bicknell - Trustee

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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.

Taxation
The charity is exempt from corporation tax on its charitable activities.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. INVESTMENT INCOME
30.9.24 30.9.23
£    £   
Interest received 326 -

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.9.24 30.9.23
£    £   
Independent examiners fee 620 436

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023.



SPOUT YARD PARK MANAGEMENT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 793 2,040 2,833

Charitable activities
Core 1,902 - 1,902
Total 2,695 2,040 4,735

EXPENDITURE ON
Charitable activities
Core 6,827 2,040 8,867

NET INCOME/(EXPENDITURE) (4,132 ) - (4,132 )


RECONCILIATION OF FUNDS
Total funds brought forward 29,749 - 29,749

TOTAL FUNDS CARRIED FORWARD 25,617 - 25,617

6. COST OF THE COMMUNITY PARK

Spout Yard Park was formerly an open space used as a storage site by the council. In 2001, Spout Yard Park Management Trust Limited was formed to raise funds and transform the space into a public park. The building project took from 2002 until March 2008 at a cost of £304,616 using funds raised from the community.

The project costs included land improvements, a kiosk, two play areas and a gallery.

Subsequent to opening the park in 2008, £28,264 has been spent on further land improvements, park maintenance and equipment.

It is the policy of Spout Yard Park Management Trust Limited to recognise the costs incurred on the creation, improvement and maintenance of the park in the Statement of Financial Activities. The costs are not recognised as assets as they are for the provision of a public park and are not enduring assets of the charity.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors - 2,040


SPOUT YARD PARK MANAGEMENT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other creditors 1,402 2,974

9. MOVEMENT IN FUNDS
Net Transfers
At movement between At
1.10.23 in funds funds 30.9.24
£    £    £    £   
Unrestricted funds
General fund 4,317 3,568 (2,200 ) 5,685
Designated Fund 21,300 - 2,200 23,500
25,617 3,568 - 29,185
TOTAL FUNDS 25,617 3,568 - 29,185

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 8,950 (5,382 ) 3,568

Restricted funds
Accessible path 2,000 (2,000 ) -
Gallery fund 2,000 (2,000 ) -
4,000 (4,000 ) -
TOTAL FUNDS 12,950 (9,382 ) 3,568


Comparatives for movement in funds

Net Transfers
At movement between At
1.10.22 in funds funds 30.9.23
£    £    £    £   
Unrestricted funds
General fund 29,013 (4,132 ) (20,564 ) 4,317
Designated Fund 736 - 20,564 21,300
29,749 (4,132 ) - 25,617
TOTAL FUNDS 29,749 (4,132 ) - 25,617

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 2,695 (6,827 ) (4,132 )

Restricted funds
Accessible path 2,040 (2,040 ) -

TOTAL FUNDS 4,735 (8,867 ) (4,132 )

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
At movement between At
1.10.22 in funds funds 30.9.24
£    £    £    £   
Unrestricted funds
General fund 29,013 (564 ) (22,764 ) 5,685
Designated Fund 736 - 22,764 23,500
29,749 (564 ) - 29,185
TOTAL FUNDS 29,749 (564 ) - 29,185

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 11,645 (12,209 ) (564 )

Restricted funds
Accessible path 4,040 (4,040 ) -
Gallery fund 2,000 (2,000 ) -
6,040 (6,040 ) -
TOTAL FUNDS 17,685 (18,249 ) (564 )

Included within restricted funds are the following -

Accessible path and paving - grant toward cost of creating an accessible path and repairs to paving

Gallery - grant toward the operation of the gallery

Included within designated funds are the following -

12 months operating expenses £7,500
Play surface renewal £4,000
Playground equipment replacement £12,000

SPOUT YARD PARK MANAGEMENT TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2024.