2025-03-31-accounts - Barn Elms Sports Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED COMPANY NUMBER: 07025727 (England and Wales)

REGISTERED CHARITY NUMBER: 1135370

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BARN ELMS SPORTS TRUST

Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

BARN ELMS SPORTS TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

		Page	Page
Report of the Trustees	1	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet	6	to	7
Notes to the Financial Statements	8	to	15
DetailedStatementofFinancialActivities		16

BARN ELMS SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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 March 2025. 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 charity's main purpose is to promote sport, recreation and leisure facilities for the benefit of the public at large in the Borough of Richmond upon Thames and Wandsworth and the surrounding London Boroughs, by providing a long term solution to retain the playing fields for the community, allowing for a suitable variety of sports and a safe environment for play, sport and leisure. The charity acts in an ancillary capacity to Richmond Council to ensure greater participation in sport, especially in schools and sports clubs, while providing for the community desire for open space.

Public benefit

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’.

ACHIEVEMENT AND PERFORMANCE

Review of activities

The charity continued to offer pitch and facility rentals across the wide range of sports and activities at Barn Elms Playing Fields [Barn Elms]. Most of the facilities were fully utilised with the exception of the athletics track which was closed until October, due to the delay in completion of the re-surfacing. As reported last year, this delay was caused by the prior winter weather period and specialist contractor availability which was disappointing. Although re-opened for use in October, along with the stadium football pitch, a defect causing water to pool at one side of the track will need to be addressed later in 2025. Overall, however, users are delighted with the new state-of-the-art surface and surrounding facilities, and usage figures have climbed since reopening.

Barn Elms' principal costs remain pitch maintenance and payroll. Despite upward cost pressures on both, the pitches were maintained to a high standard and staff continued to provide excellent service to users, giving Barn Elms an enviable reputation both in the Borough and further afield. This is further assisted by the Pitch Power grant from the Football Foundation to improve football pitches over 6 years.

Page 1

BARN ELMS SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Financial position

Facility hire revenues of £319,527 (2023/24 £325,107) were down 2%, principally due to the delayed track renewal project causing further athletics track and stadium pitch closure. However, it was also another record Cricket pitch year, winter pitches were generally at close to capacity, tennis continued to maintain healthy revenue levels, but cricket nets usage declined a little. Despite the delayed track renovation, athletics income remained resilient with the use of grass areas for school sports days, and the re-opening of the track in October at increased prices. It was a year of increased revenue for the community room.

Costs remained well controlled, but also with some increases in staff costs and grounds maintenance due to facility usage requirements at almost full capacity, to £316,687 (2023/24 £300,755). Costs net of grants and fundraising were £295,231 (2023/24 £254,359). This year's costs includes athletics track project depreciation and water tank replacement and additional planned and reactive maintenance expenditure. Income from grants and fundraising in the year totalled £21,456 (2023/24 £46,396), including the third year (£17,066) of the Pitch Power grant from the Football Foundation. This funding goes towards continued and further improvement of the football pitches with a grant totalling £102,400 over 6 years, with BEST committing to ground improvement expenditure of £153,600 over that time span.

The management fee charged to London Borough of Richmond upon Thames was reduced this year to £20,000 (2023/24 £30,000).

A surplus of £66,887 (2023/24 £121,986) was generated in the year, to be added to reserves set aside to fund future capital projects, improvements & dilapidations.

Reserves policy

The Trustees have established a reserves policy where unrestricted funds are not committed to any other purpose than the working capital of the charity and to the charity's objectives and policies. BEST has established a further designated sinking fund to provide for long term maintenance and dilapidation. At the year end the charity had unrestricted funds of £948,141 (2023/24 £882,747), and restricted funds of £12,352 (2023/24 £10,859). The restricted funds relate to grants and donations provided for specific purposes. A final athletics track renewal payment of £73,700 will be due in 2025/26, which has been delayed/withheld pending resolution of the aforementioned defect, and contractual retention clauses.

Financial and risk management objectives and policies

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity and are satisfied that systems are in place to mitigate its exposure to these risks.

The Board of Trustees review the annual budget paying particular attention to the balance between income and expenditure and the amount needed to be retained in reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Page 2

—

BARN ELMS SPORTS TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Trustees are appointed under the terms of the Articles of Association by a resolution of the existing trustees, who are also members of the company. All Trustees are made aware of their responsibilities before appointment.

The members of the company guarantee to contribute £10 in the event of the company being wound up.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07025727 (England and Wales)

Registered Charity number 1135370

Registered office 12 Ranelagh Avenue Barnes London SW13 OBP

Trustees

R Essex K Moore N Spooner D Stott C Nicholson

Company Secretary K Moore

independent Examiner Collards Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 2 September 2025 and signed on its behalf by:

K Moore - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARN ELMS SPORTS TRUST

Independent examiner's report to the trustees of Barn Elms Sports Trust (‘the Company') | report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

| have completed my examination. | 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
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
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.

Christopher Julian Brigstocke FCA The Institute of Chartered Accountants in England and Wales

Collards

Chartered Accountants 5-9 Eden Street Kingston-upon-Thames Surrey KT1 1BQ

2 September 2025

Page 4

BARN ELMS SPORTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	3	-	21,456	21,456	46,396
Other trading activities	4	339,527	-	339,527	355,107
Investment income	5	22,591	-	22,591	21,238
Total		362,118	21,456	383,574	422,741
EXPENDITURE ON
Raising funds		296,724	19,963	316,687	300,755
NET INCOME		65,394	1,493	66,887	121,986
RECONCILIATION OF FUNDS
Total funds broughtforward		882,747	10,859	893,606	771,620
TOTALFUNDSCARRIEDFORWARD		948,141	12,352	960,493	893,606

The notes form part of these financial statements

Page 5

BARN ELMS SPORTS TRUST

BALANCE SHEET

31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	10	286,263	=	286,263	214,875
CURRENTASSETS
Debtors	11	20,437	°	20,437	12,124
Cash at bank and in hand		711,742	12,352	724,094	736,191
		732,179	12,352	744,531	748,315
CREDITORS
Amounts falling due within one year	12	(70,301)	-	(70,301)	(69,584)
NET CURRENTASSETS		661,878	12,352	674,230	678,731
TOTAL ASSETS LESS CURRENT
LIABILITIES		948,141	12,352	960,493	893,606
NETASSETS		948,141	12,352	960,493	893,606
FUNDS	13
Unrestricted funds:
General fund				749,831	699,437
Designated sinking fund				198,310	183,310
				948,141	882,747
Restricted funds:
Other restricted funds				12,352	10,859
TOTALFUNDS				960,493	893,606

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

Page 6

continued...

BARN ELMS SPORTS TRUST

BALANCE SHEET- continued 31 MARCH 2025

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 2 September 2025 and were signed on its behalf by:

L3Hae K Moore - Trustee

The notes form part of these financial statements

Page 7

BARN ELMS SPORTS TRUST

STATUTORY INFORMATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Barn Elms Sports Trust is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found in the Report of the Trustees. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

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.

Barn Elms Sports Trust meets the definition of a public benefit entity under FRS 102.

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. Income is stated at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. For specific income sources, the following criteria are used determining the entitlement:

a) Income from hiring out the sports facilities is materially recognised in the period in which the facilities were hired.

b) Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

c) Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Page 8

continued...

BARN ELMS SPORTS TRUST

2; ACCOUNTING POLICIES - continued

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Tangible|fixed|assets| |Cricket|assets|25%|or 20%_|straight|line| |Other|plant and|machinery|33%__|straight|line| |Running|track|5%|straight|line|

----- End of picture text -----

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.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3. DONATIONS AND LEGACIES

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |£|£| |Donations|433|9,136| |Grants|21,023|37,260| |21,456|46,396| |Grants|received,|included|in|the|above,|are|as|follows:| |2025|2024| |£|£| |Other grants|21,023|37,260|

----- End of picture text -----

Page 9

continued...

BARN ELMS SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |4.|OTHER|TRADING|ACTIVITIES| |2025|2024| |£|£| |Management|fees|20,000|30,000| |Facilities|hire|319,527|325,107| |339,527|355,107| |5.|INVESTMENT|INCOME| |2025|2024| |£|E| |Interest|receivable|-|trading|22,591|21,238| |6.|NET|INCOME/(EXPENDITURE)| |Net|income/(expenditure)|is|stated|after|charging/(crediting):| |2025|2024| |£|Pa| |Depreciation|-|owned|assets|10,406|4,004|

----- End of picture text -----

TRUSTEES’ REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees’ expenses

There were no _ trustees’ expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

STAFF COSTS

----- Start of picture text -----
|||||| |---|---|---|---|---| |2025|2024| |£|£| |Wages|and|salaries|112,100|107,736| |Social|security|costs|4,013|3,421| |Other|pension|costs|2,620|2,478| |118,733|113,635|

----- End of picture text -----

The average monthly number of employees during the year was as follows:

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2025|2024| |Management|and|ground|staff|6|5| |No|employees|received|emoluments|in|excess|of £60,000.|

----- End of picture text -----

Page 10

continued...

BARN ELMS SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

8. STAFF COSTS- continued

FULL TIME EQUIVALENT

			2025	2024
	Full Time Equivalent (FTE)		3.5	3.2
9.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	fund	funds
		£	£	£
	INCOME AND ENDOWMENTS FROM
	Donations and legacies	1,440	44,956	46,396
	Other trading activities	355,107	-	355,107
	Investment income	21,238	-	21,238
	Total	377,785	44,956	422,741
	EXPENDITURE ON
	Raising funds	258,809	41,946	300,755
	NET INCOME	118,976	3,010	121,986
	RECONCILIATION OF FUNDS
	Total funds brought forward	763,771	7,849	771,620
	TOTAL FUNDS CARRIED
	FORWARD	882,747	10,859	893,606

Page 11

continued...

BARN ELMS SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

10. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
	Running	Plant and	Ground
	Track	machinery	improvements	_ Totals
	3	F	£	a
COST
At 1 April 2024	207,170	30,883	22,246	260,299
Additions	81,794	-	-	81,794
At 31 March 2025	288,964	30,883	22,246	342,093
DEPRECIATION
At 1 April 2024	-	26,598	18,826	45,424
Charge foryear	7,224	1,232	1,950	10,406
At 31 March 2025	7,224	27,830	20,776	55,830
NET BOOK VALUE
At 31 March 2025	281,740	3,053	1,470	286,263
At 31 March 2024	207,170	4,285	3,420	214,875
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE		YEAR
			2025	2024
			£	£
Trade debtors			6,777	10,542
Other debtors			1,506	1,437
VAT			402	145
Prepayments and accrued income			11,752	-
			20,437	12,124

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Page 12

continued...

BARN ELMS SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

			2025	2024
			£	£
Trade creditors			16,537	22,445
Social security and other taxes			4,531	2,063
Other creditors			1,133	1,776
Accruals and deferred income			48,100	43,300
			70,301	69,584
MOVEMENT IN FUNDS
		Net	Transfers
		movement	between	At
	At 1.4.24	in funds	funds	31.3.25
Unrestricted funds	£	£	fF.	£
General fund	699,437	65,394	(15,000)	749,831
Designated sinking fund	183,310	-	15,000	198,310
	882,747	65,394	-	948,141
Restricted funds
Other restricted funds	10,859	1,493	-	12,352
TOTAL FUNDS	893,606	66,887	-	960,493
Net movement in funds, included in the above are as		follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		£	£	£
Unrestricted funds
General fund		362,118	(296,724)	65,394
Restricted funds
Other restricted funds		21,456	(19,963)	1,493
TOTALFUNDS		383,574	(316,687)	66,887

13. MOVEMENT IN FUNDS

Page 13

continued...

BARN ELMS SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

13. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds

		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	595,461	118,976	(15,000)	699,437
Designated sinking fund	168,310	-	15,000	183,310
	763,771	118,976	-	882,747
Restricted funds
Other restricted funds	7,849	3,010	-	10,859
TOTALFUNDS	771,620	121,986	-	893,606

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	377,785	(258,809)	118,976
Restricted funds
Other restricted funds	44,956	(41,946)	3,010
TOTALFUNDS	422,741	(300,755)	121,986

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

		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.25
	£	£	£	£
Unrestricted funds
General fund	595,461	184,370	(30,000)	749,831
Designated sinking fund	168,310	-	30,000	198,310
	763,771	184,370	-	948,141
Restricted funds
Other restricted funds	7,849	4,503	-	12,352
TOTALFUNDS	771,620	188,873	-	960,493

Page 14

continued...

BARN ELMS SPORTS TRUST

MOVEMENT IN FUNDS - continued

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

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	739,903	(555,533)	184,370
Restricted funds
Other restricted funds	66,412	(61,909)	4,503
TOTALFUNDS	806,315	(617,442)	188,873

Designated sinking funds

An amount of £198,310 (2024 - £183,310) held in the Designated Sinking Fund shown above relates to a sum reserved by the charity for future long term maintenance and dilapidation.

RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

INDEPENDENT EXAMINERS FEES

The fees paid to the independent examiner during the period in respect of their independent examination and other services provided by them are as follows:

	2025	2024
	£	£
Independent examination	950	950
Other services	950	950
	1,900	1,900

Page 15

BARN ELMS SPORTS TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	433	9,136
Grants	21,023	37,260
	21,456	46,396
Other trading activities
Management fees	20,000	30,000
Facilities hire	319,527	325,107
	339,527	355,107
Investment income
Interest receivable - trading	22,591	21,238
Total incoming resources	383,574	422,741
EXPENDITURE
Raising donations and legacies
Grant funds utilised for development	20,498	42,603
Other trading activities
Wages	112,100	107,736
Social security	4,013	3,421
Pensions	2,620	2,478
Bad debts	-	(360)
Administration expenses	11,308	12,785
Establishment expenses	166,148	132,092
	296,189	258,152
Total resources expended	316,687	300,755
Netincome	66,887	121,986

This page does not form part of the statutory financial statements

Page 16