REGISTERED COMPANY NUMBER: 03545209 (En2land and Wale5) REGISTERED CHARITY NUMBER: 1069371 Report of the Trustees and Unaudited Financial Statements For The Year Ended 31 December 2024 for Lightwater Plx}Trng Field A550ci4tion Ltd Fuller Spurling Mill Houge 58 Guildford Street Chertsey SurrL'y KT169BE LighhTr'ater PIAving Field Association Ltd Content5 of the Fin2nci&l Statements For The Year Ended 31 December 2024 Page Report of the Trustees Independent Examiner's Report Statement of Fin8ncio1 ActiNities Balance Sheet Notes to the FIDanclAI Stalements 8 to 13 Detailed Statement of Financial Activities 14 LightTh'ater Pl8Tring Field Assoel*tion Ltd Report of the Trustee5 For The Year Ended 31 December 2024 The I￿steeS who are also direcloTS of the Charity for the purposes of the comp￿leS Act 2006, present their report the financial slatemenls of Ihe charity for the year ended 31 December 2024. The trustees hai'e adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable 10 charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeLlive l Januarj. 2019). OBJECTIVES AND ACTIN'ITIES Objectives and aims During the last year. Ihe Trustees have Continued to focus their atteniion on ensuring that our offering io tbe local community remains ai the heart of everythtng we do. To this end, we continue lo work in Partnership with both SHBC and Competition line. delivering community benefil supported by private seclor investment. The Trustees Lonfirn) ihat they have referred io the guidanLe Lonthined in the Charity Commission's general guidan¥¢ on public benefit when reviewing ils aims and objectives. and in planning future aclivilies and developmenls of the Leisure Centre and Park. IVS critical that we ensure a solid financial footing to deliver 5UStainability and investment 85 we go forward. ACHIEVEMENTS AND PERFORMLYCE CharitAble Aetivities Significantly this year we have secured a 20 year lease extension that will make incremental investment plans in facilities now financially viable and has already unlocked investment to refurbish the building. open il up to Jll the ommunily through freelunhindered accL'ss, establish a new coffee offering stabilize finances, statring and Ihe operalional management of the Centre. This will enable us to Lonlinue our mission lo: Build a more comprehensil'e and flexible catering service for the cenler, sports clubs, and broader park users. Seek ne￿. opportunities to serve the community e.g. Forgye pannerships th.ith local healthcar¢ to offer actii'ilies such as Cardio rehabilitation. Faciliiies provision for local schools outsidc pcak iimcs (njles and regulaiions permiltingl Deliver our'Light fest, ouidoor feslival initiative for the enjoymenl of Ihe community at large. A preferenie in LonlraLls for maintenance. food elc. to be sourLed from local providers. FINANCIAL REVIEW Flnanclal posltion Although the impact of Covid was having a smaller affect on the charity's activities during ihe year, income was 22 % higher at £369.35R 12023.. £302.930) but there was a small operating deficit of £2,086 (2023.. £ 1,206 burplus). The deficit on reserves carried fonvard al the end of the year has increased 10 £37,328 (2023.. £35.242.) No Trustees have resigned during the year. the current 4 trustees remain active and wholly engaged. The Trustees meet regularly and are in conta¢t almost daily. Finances remain well manag¢d 2nd are sustainable going forward with increased revenue gr0￿h and a strong centre management team. Investment policv and objectii'es Under rhe Memorandum and Articles of Association, the charity has the power to invest in any way the t￿￿te¢S decide. Reser%'es policy As the charity has net liabilities of £37,328 the Irustees still Lannot offer a meaningful Reserve Policy. PLANS FOR FUTURE PERIODS With the lease extension we are already in the process of bringing to the Ccntrc Padel Tennis (6 courts) and a new function room faciliry for club users of the centre and members of the wider community. In addition w¢ arc in disc￿$5[0￿ a consortium of investors lo assess the feasibility lo thnd a new all-weather full size football pitch in the future plus other new facilities, such as netball. & indoor hockey. Page I Lightw'ater Plaving Fleld As$o¢i*tion Ltd Report of the Trustees For The Year Ended 31 December 2024 STRL'CTURE. GON'ERNANCE AND MANAGEMENT GofvernlnE document The company is limited by Guarantee and does not have a share capital. It is a registered charity and its governing document is its Memorandwn and Articles of Association. Recruitment and APPOilltment of new trustees Trusiees are selelted and invitLd 10 join Ihe Board of Trustees by existing Trustees and thL appointmLnl of Trustees is vested in the Trustees. Organlsatlonal structure The board of Trustees, which includes all Trustees, administers Ihe charity. The board meets on a monthly basis. A centre manager is appointed by the Trustees to manage the day to day operaiions of the charity. To facilitate effective operaiions, the Trustees delegate authority lor operational matters, including finance and employment. The Board Lonlinue lo have outside represenlalives attending their meetings bul these are non-voling and allend in an advisory LapaLily, this usually Lonsisl of mLmb¥rs of Comp¢tition Line. There is also an open invitalion for representative of Surrey Heath Borough Council to attend, by prior arrangement. The outside reprL'sentatives are CXLludLd from attending Pan B of ihe meeting. Inductlon and tralnlng of new. trustee$ Neiv Trustees undergo an oiienialion day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and rcceni financial perfomiance of the company. During the induction ihey meet key employees and other Trustees. Tn￿leeS are encouraged io attend appropriate external training evenls where these will facili¢ale the undLrtaking of their role. RelAted parties gnd funds deficit The Charity cntcrcd into an arrangement with Compelition Line (UK) Ltd on 21 December 2006 to improve Ihe facilities ai th¢ Leisure Centre and lo generate additional fund5. Competition Linc (UK) Ltd agreed lo provide loan finance to the Charity and have made further loans since that date. The Charity exited from an Administration Order on 25 March 2011 when il had nei liabiliiies (principally the foregoing original long term loan) and thus it had a largye funds deficit. However all loans had been waived by Compeiition Linc (UK) Ltd and ihc valuc wa5 thcrcfoie transferred lo unreslriuted funds at 31 $1 De¢¢mber 2023. The rematning funds deficil is £37.328 at 31 st DeLember 2024 Risk management The trusi¢¢S hav¢ a duty lo identify and review ihe risks to which th¢ Charity is exposed and to ensure appropriate controls are in place to provide reasonable assuranL¢ against fraud and error. The Tnjstees have reviewed. identifted and recorded the major risks to the Chariiy. A full rei'iew of Health and Safcly has been completed and a new Health and Safety managemenl system has been implemented which is rev1¢￿'Cd &nnually. Finan¥ial Lontrol is a key area of the business focus, boih drii'ing partiLipationlincome and redueing expenditure to improi'e the financial performance of the centre in the long lerni. A business plan is in place and finance is revicwed monthly lo ensure control measures and business underslanding are monitored closely. REFERENCE AND ADI%llNISTRATIIIE DETAILS Register¢d Compan), number 03545?09 (England and Wales) Registered Chg4rity number 1069371 Page 2 Lighh%'ater Playing Field Association Ltd Report of the Trustees For The Year Ended 31 December 2024 Registered office Lightw'ater Leisure Centre Lightw'aier Couniry Park The Avcnue Lighiwater Surrey GU18 5RG Trustees S C Russell T Shoubridge D Lyons R Luck Independeni Examiner Mark T C Harvey FCA Fuller Spurling Mill House 58 Guildford Street Chertsey Surrey KT16 9BE This report has been prepared in aLLordance with Ihe sp¢¢ial provisions of Part 15 of the Comp&nies ALI 2006 relating to small ¢ornpanies. Approved by order of the board of trustees on ... and signed on its behalf by.. T Shoubridge - Trusiee Page 3 Ind¢'p¢ndent Examiner's Report tu the Trust￿1 of Ligh￿'￿ter Pla.ying Field A$$ocia¢ion Ltd Indi'pi'ndL'nt l¥x#minL'r's report to thL tN8tees of Li%hth'ater PlaTr'ing Field A5SOCi#tion Ltd I'thL CTrmpany') rLIM)I'l li) IhL L￿ri1V Iru8lLCS on exdminalii)n i)r the aL¥()unls c)i- Ihc Compan}, li)[ thL' VLar LndLd I I Ikn'Lm￿[ 2024. RL'sponsihililii¥$ and b¥451￿ nf report A% IhL tyhaTilTr % IniilLL% l)i- IhL Cc)InpJnN' (and iil%(i ils dirLcI()r8 lor IhL PUTFA)ses ofcc)mpail￿ IdM'I }'iTru arL fLStx)nsiblc l()r 11)L PfLPiirali()ii ()I' IhL' aLLI)unls In (IC¥()rd￿CL w.lili the rL'quirumL'nls i)I' IhL Lompanie.% Act . ?006 {'the 2006 A¥l'). .l