TRINITY FIELDS TRUST
Directors’ Report and Financial Statements For the Year Ended 31 August 2024
Company registered number 03262962 Charity Commission number 1060813
TRINITY FIELDS TRUST
| CONTENTS | PAGE |
|---|---|
| Charity Information | 2 |
| Directors’ Report | 3-6 |
| Statement of Directors’ Responsibilities | 7 |
| Independent Examiner's Report | 8 |
| FinancialStatements | 9-12 |
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TRINITY FIELDS TRUST
CHARITY INFORMATION
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REGISTERED OFFICE
209 Trinity Road Wandsworth London England SW17 7HW
BANKERS
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|---|---|---|
|Barclays|Bank|Plc|
|Wandsworth|Group|
|PO|Box|3847|
|London|
|SW11|1TR|
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INDEPENDENT EXAMINER
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|---|---|---|
|Phillips|Young|
|Chartered|Certified|Accountants|
|6|Derwent|Avenue|
|Mill|Hill|
|London|
|NW/7|3DZ|
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CHARITY NUMBER
1060813
COMPANY REGISTRATION NUMBER
03262962
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TRINITY FIELDS TRUST DIRECTORS’ REPORT FOR THE YEAR ENDED 31 AUGUST 2024
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The directors present their report and accounts for the year ended 31 August 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 31 August 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.
OBJECTIVES AND PUBLIC BENEFIT
The Trinity Fields Trust (TFT) charity's objects are specifically restricted to provide in the interest of recreation and social welfare a public recreation ground and playing field known as Trinity Fields for the use primarily of children and young adults under the age of 25 years who are resident in the London Borough of Wandsworth and Lambeth, with a preference for those who are in need of financial assistance and also, to the extent that such use does not conflict with the primary use referred to above, for the use of the inhabitants generally of the London Boroughs of Wandsworth and Lambeth. The Trustees have ensured that the charity has carried out its purposes for the public benefit. They have had regard to The Charity Commission's guidance on public benefit and have taken this guidance into account when making decisions. The Board regularly reviews the aims, objectives and activities of the charity and will be undertaking the next review in Autumn 2025.
Public benefit
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity. FINANCIAL AND OPERATIONAL REVIEW Financial Review The results for the charity for the year ended 31 August 2024 are set out in the financial statements. The year to 31 August 2024 saw the trust make a deficit of £22,973 vs a surplus of £8,071 in the previous year. During the year the Trust carried out a review of fixed assets and, as a result, assets which were no longer held were written out of the books and the remaining assets were assessed for their residual value. This led to a one-off depreciation charge of £30,885. Without this one-off charge the Trust would have made an underlying profit of £7,912; this continues the results of recent years whereby TFT broadly breaks even.
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TRINITY FIELDS TRUST DIRECTORS’ REPORT (cont'd)
nc Looking forward, in 2024/25 we are budgeting for income to be circa £400,000. If costs remain stable this will return a small profit. However, the current dilapidated state of some of the premises and facilities is likely to require significant and essential capital and expense spend if not this year, then certainly next. Our reserves are limited following the drainage work required on the fields in 2021/2022. As a result, the Board are carrying out a review of future options to increase income, to improve significantly the usability of our playing fields and premises, and most importantly to extend our charitable activities and produce improved charitable impacts in line with our Charity Objects.
Operational Review
Operationally we made very good progress in the year. We expanded the well-established Trinity Cup for football to include 20 boys’ and 16 girls’ teams (2023: 14 and 13 teams respectively) involving a total of 300 Year 6 students. As in previous years, the overwhelming majority of children who competed for the trophies were from state schools with high numbers of pupil premium children.
The summer saw two exciting new activities comprising The Trinity Shield, a cricket tournament involving 40 Year 4 pupils, and The Trinity Games. In partnership with Little Rackets the Games introduced 120 Year 1 and Year 2 pupils to a variety of sports not typically covered in the primary school curriculum, including tennis, rugby and cricket, as well as fun activities such as tug-of-war. Again, the majority of the children who participated were from state schools.
Over half our annual bookings were from community clubs who can hire our facilities at a discount — and sometimes free. In return we require all these clubs to commit to a pledge to increase the diversity of their participants, again with an emphasis on underprivileged participants. We are monitoring the clubs’ progress to ensure that we prioritise clubs which deliver their pledges. As part of our commitment to community clubs we recognised that many clubs face challenges in providing a clear pathway for younger female footballers because they lack enough players to form a full team for league competition. In response to this we launched the Trinity League Cup, a football tournament aimed at supporting community clubs in developing their girls' teams. In its first season The Trinity League Cup enabled 7 teams to offer their girls the thrill of playing in a real team fixture. We are currently in discussions with several potential partners to make and expanded League Cup a regular event in the Wandsworth sporting calendar.
Other users of our facilities in the year included: . Street Cricket, run in partnership with the Surrey Cricket Foundation, is completely free and gives young people the opportunity to develop their cricket and life skills. ° Organisations such as Love2Learn, supporting refugees. . Local state schools who enjoy subsidised sports days and sports programmes. ° Our Holidays, Activities and Food (‘HAF’) camp. This runs for 5 weeks a year with free food and coaching for 40 children.
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TRINITY FIELDS TRUST DIRECTORS’ REPORT (cont'd)
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We are proud of the progress in the last year and subject to finding the funds to do so, we will be implementing plans to expand our activities even further.
Reserves policy
As a charity we have a duty to spend our resources on our charitable purposes, but we also needa level of reserves to ensure that we can fulfil our service delivery and our legal and good management obligations, should we have funding difficulties. The Trustees therefore aim to monitor fluctuations in income and expenditure to ensure that the charity not only meets its present obligations but can also reasonably cope with these unforeseen circumstances.
In the light of this the trustees debated what would be an appropriate level of reserves and concluded that we should set aside sufficient reserves to allow us to maintain operations for approximately three months of normal trading in the absence of any other income. As a minimum this should allow us to ensure that, if it became necessary to wind up the operations of the charity, there would be sufficient funds available to meet the liabilities of the charity towards its staff and any continuing contracts.
With this in mind, the trustees recognised that such a reserve is meaningless unless it is backed by available cash. Therefore, the amounts shown as being at the bank in these accounts include over £90,000 of cash which is ring-fenced. This cash is known as a Designated Reserve.
There are two other types of reserve: Unrestricted Reserves are those reserves, accumulated over time, for which there is no stipulated use of the funds for the delivery of a particular project or area of work. The balance of the Trust’s reserves falls into this category.
Restricted Reserves are those reserves, accumulated over time, for which there is a stipulated purpose for the funds. Where budgets identify peaks and troughs in cash flow, the level of the reserves is adjusted accordingly to ensure the continuance of the charity as a going concern.
The Trustees, with the help of management, will keep the reserves policy under review to ensure that the right balance is maintained. Furthermore, in keeping with the best practice guidance issued by the Charity Commission, the Trustees will continue to review the reserves policy, annually, at the same time that the annual budgeting and strategic planning for the year is carried out recognising that strategic and financial planning informs the development of reserves policies and vice versa.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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TRINITY FIELDS TRUST DIRECTORS’ REPORT (cont'd)
Recruitment and appointment of new trustees
The Board of Trustees meet four times a year. Trustees are recruited through a recruitment process in place which includes interviews by at least two trustees. Some trustees are introduced through recommendation while others are recruited through advertisements. A decision to appoint a new Trustee is made at a Board meeting.
There were changes at board level during the year. The Trustee Board composition changed with the retirement of John Erik Samuelson on 25” March 2025. The Board thanks him for his contribution. We were pleased to add a Rachel Farrow-Smith as a trustee in June 2024.
Changes in appointments in the year ended 31 August 2024 are shown below, along with other changes up to the date of this report.
Directors
The following directors held office in the year under review:
ALLCOCK, Neil FREEMAN, Benjamin Charles JOHNSON, Yvonne PEGGIE, Andrew James PETERS, Mark Alexander SAMUELSON, John Erik - resigned 25 March 2025 EARROW-SMITH, Rachel Ann - appointed 21 June 2024
This report was approved by the Board on 21 April 2025 and signed on its behalf by:
Y Johnson, Director
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TRINITY FIELDS TRUST STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards arid applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
- select suitable accounting policies and then apply them consistently, - make judgements and estimates that are reasonable and prudent, - prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Small company provisions This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors
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UA ,
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Y Johnson, Director
Approved by the board on 21 April 2025
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TRINITY FIELDS TRUST
Independent examiner’s report to the trustees of Trinity Fields Trust
| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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, | 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 | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a registered member of The Association of Chartered Certified Accountants, which is one of the listed bodies.
| have completed my examina tion. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- 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)].
| 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.
LAURENCE LIM FCCA Chartered Certified Accountants 6 Derwent Avenue LondonNW7 3DZ pate: .... 2). Avert. 2228...—
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TRINITY FIELDS TRUST
Income and Expenditure Account For the year ended 31 August 2024
| 2024 | 2024 | 2023 | 2023 | |
|---|---|---|---|---|
| Income | £ | £ | £ | £ |
| Bar Income | 63,930 | 62,487 | ||
| Legacy School Income Pitch Hire |
279,129 56,232 |
256,608 67,003 |
||
| Sponsorship & grants Total income |
12,290 | 411,581 | 2,428 | 388,526 |
| Barand kitchen consumables | 17,922 | 16,750 | ||
| Gross Profit | 393,659 | 371,776 | ||
| Interest income | 4,618 | 2,967 | ||
| Exceptional Income - Insurance Claim | ~ | 9,255 | ||
| Expenditure Staffcosts |
170,168 | 142,202 | ||
| Ground maintenance | 49,959 | 47,344 | ||
| Rent | 75,000 | 75,000 | ||
| Legal and professional Depreciation Write off offixed assets |
11,260 25,640 30,885 |
13,836 30,365 - |
||
| Utilities Cleaning Barrunning costs Building maintenance Insurance |
21,867 15,704 3,156 6,080 4,390 |
16,172 15,177 16,715 8,259 4,529 |
||
| IT&communications | 4,755 | 2,254 | ||
| General administration | 565 | 2,055 | ||
| Business rates | 437 | (751) | ||
| Equipment Bank and interestcharges |
3,184 1,200 |
1,789 981 |
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| Totalexpenditure | 421,250 | 375,927 | ||
| (Deficit)/surplusfortheyear | (22,973) | 8,071 | ||
| Balance b/f 1 September |
270,238 | 262,167 | ||
| Balancec/f31August | 247,265 | 270,238 |
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TRINITY FIELDS TRUST
Notes to the Financial Statements For the year ended 31 August 2024
Statutory information
Trinity Fields Trust is a private company, limited by shares, registered in England and Wales, registration number 03262962. The registered office is Trinity Fields Trust, 209 Trinity Road, Wandsworth, London, England, SW17 7HW.
- A; Accounting Policies
The financial statements have been prepared in accordance with applicable accounting standards and the following policies have been used consistently.
Basis of preparing the financial statements
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 from 1 January 2019, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Income
Represents all sums received and receivable by the Trust.
Tangible Fixed Assets
Depreciation is charged on the fixed assets at an appropriate rate in order to write them off over their anticipated useful life with a full year’s charge in the year of acquisition.
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|Plant|and|machinery|20%|straight|line|
|Fixtures|and|Fittings|&|Equipment:|20%|straight|line|
|Leasehold|Improvements|10|years|from|date|of|renewal|
|2.|Tangible Assets|
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|---|---|---|---|---|---|---|---|
|Leasehold|Plant|&|Fixtures|&|Total|
|improvements|machinery|fittings|
|£|£|£|F|
|Cost|
|At1|September|2023|428,293|142,551|58,122|628,966|
|Additions|-|12,471|1,748|14,219|
|Write|off|of|assets|(31,135)|(71,968)|(7,696)|(110,799)|
|At|31|August|2024|397,158|83,054|52,174|532,386|
|Depreciation|
|At1|September 2023|360,109|111,253|53,047|524,409|
|Charge|for the|year|10,780|13,506|1,354|25,640|
|On|assets|written|off|(7,779)|(68,359)|(3,776)|(79,914)|
|At|31|August|2024|363,110|56,400|50,625|470,135|
|Net|book|value|
|At|31|August|2024|34,048|26,654|1,549|62,251|
|At|1|September 2023|68,184|31,298|§,075|104,557|
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TRINITY FIELDS TRUST
Notes to the Financial Statements For the year ended 31 August 2024 (continued)
3 Debtors
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|---|---|---|---|---|---|---|
|Debtors|2024|2023|
|£|£|
|Amounts|falling|due|within|one|year|
|Trade|debtors|5,741|§,085|
|Accrued|income|and prepayments|14,741|5.232|
|oo|20,482|4S.247|
|4|Creditors:|amounts falling|due within|one year|2024|2023|
|£|£|
|VAT|8,484|5,67|
|Trade|creditors|16,540|(331)|
|Other creditors|4,673|554|
|Accruals|1,096|8,056|
|5|Reserves|©|=|*|—|caer"|
|270,238|262,167|
|Ealance|brought forward|
|||{22,973}|6.071|
|(Deficit)|/|Surplus|for the year|
|Unrestricted|reserves carriec forward|247,265|270,238|
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The Trust neld no restricted funds as defined by the Charities Act 2071 in the year under review.
- § Average number of employees
During the year the average nurnver of employees was 4 (2023: 4).
7. Contingent liability
On 4 August 2017, Trinity Fiel¢s Trust entered into a lease and cther agreements which mean that from August 2021, Trinity Fields Trust is liable for rent of £75,000 per annum to the Sir Walter St John's Educational Charity (the Landlord of the playing fields) for 20 years and then as adjusted for inflation from that date fora further 30 years.
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TRINITY FIELDS TRUST FINANCIAL STATEMENTS
Balance Sheet As at 31 August 2024
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|---|---|---|---|---|---|
|2024|2023|
|Notes|»|£|£|
|Fixed|assets|
|Tangible assets|2|62,251|404,557|
|Current|assets|
|inventories|1,995|2,529|
|Debtors|3|20,482|13,317|
|Cash|at bank and|in|hand|193,330|161,811|
|216,807|177,657|
|Creditors:|amounts falling due within one year|4|(30,793)|(11,976)|
|Net current assets|185,014|165,681|
|Net assets|247,265|270,238|
|Capital|and|reserves|
|Profit and|loss|account|247,265|270,238|
|Shareholders’ funds|247,265|270,238|
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
The financial statements were approved by the Board of Directors and authorised for issue on 21 April 2025 and were signed on its behalf by:
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Y Johnson, Director
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Company Registration No. 03262962
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