Higginson Park reports £13,000 loss as asset values fall

A popular Marlow park has reported a £13,000 loss in its latest financial year.

The Higginson Park Charity has reported an operating loss of £13,000 for the financial year ending 31 March 2025, according to its latest audited annual report.

The report, prepared in line with the Charities Act 2011, shows that the charity generated £271,000 in income against £284,000 in expenditure, leading to a decrease in its unrestricted reserve funds from £277,000 to £264,000.

The report also revealed that the overall net worth of the charity dropped by £696,000, from £6.98 million to £6.29 million, largely due to a revaluation of the park’s fixed assets.

The land and buildings within Higginson Park are independently revalued each year, and this time their value reduced by £490,000, mainly linked to a revised assessment of the café building.

Depreciation costs of £193,000 also contributed to the reduced valuation.

Cabinet member for culture and leisure, Peter Brazier, said: “Higginson Park Charity saw changes in income across a number of areas in the past year, including parking, events and rental income.

“There were also some one-off costs, including completion of repairs as a result of tree damage and the cost of removing two derelict abandoned boats from the river frontage, where despite all efforts, it was not possible to identify the owner responsible in order to recoup these costs.

“Therefore overall, the charity made a small loss, but it has been able to cover this from its reserve budget.”

Mark Preston, the council’s assistant chief finance officer and author of the report on the park’s finances, said the authority will continue to monitor the charity’s income and expenditure to ensure it stays self-sufficient.

He wrote: “Looking ahead, although it is not anticipated that such a significant decrease in the valuation of the fixed assets will be a yearly recurrence, work is planned to begin scoping options and to develop recommendations for the longer-term operating model for the charity assets, for consideration by the Council in its capacity as sole trustee.

“This work will be informed by the updated countywide needs assessments for sports and leisure facilities that are currently being developed to support the Local Plan.”

The findings will help inform the future management and sustainability of Higginson Park, with recommendations expected before the current leisure complex operator contract ends in 2029.

Higginson Park is one of Marlow’s most popular open spaces, sitting on the banks of the Thames and hosting major community events such as Pub in the Park, as well as fairs, concerts and charity runs throughout the year.