Docusign Envelope10: 306FA2594ECC45834430-$92A168E337C Charlty reglstratlon numb•¥ 1173146 Company registrallon number 10515820 (England and Wal•$) AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024
Docu5n Envelopè ID.. 306FA25MECC458M430.592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) LEGAL AND ADMINISTRATIVE INFORMATION Truglee8 Mr A C Blacklaws Mr D G Clegg MrTMLang Secmtary Mr D G Clegg Ch•rfty numb•r 1173146 Company number 10515820 Prlnclpal addre8• 79 Sandon Road Edgbaslon Birmingham 817 8DT Reg18t•rnd office 79 Sandon Road Edgba$ton Birningham B178DT Independent oxamln•r PKF Smith Cooper Limlted Comerblock 2 Cornwall St Bimiingham 83 2DX
Dcrtuslgn Envelope 10. 3o6FA2ECC45w43D-s92A16eE337c AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) CONTENTS Pago Trustees report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial $taternent8 8-15
Docush3n Envelope ID.. 306FA256ECC4SB3443D.s92A1esE337c AVERY FIELDS COMMUNITY FOUNDATION {FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE PERIOD ENDED 30 JUNE 2024 The Trustees present their annual report and financial ststements fof the period ended 30 June 2024. The finandal statements have been prepared In accordance with the accounting policies set out In note 1 to the financial statements and compty with the Trust's goveming dowment, the Companies Act 2006 and 'Accounting and Reporting by Charit18s.' Statement of Recommended Pra(Xice appllcable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable In the UK and Republic of Ireland {FRS 102)" (effedlvo 1 January 2019). Objectlv08 and actlvltl•s The charltable purposes of th• company are the promotlon of communty participation In healthy rreation by the provislon of fNleS and opportunities for the playing of amateur sport, In pacUlar. but not limited to rugby football union, The 8lle in question is Ihe fowmer AverylGEC Sports ground al 79 Sandon Road, Edgbast¢n, Bimingham, B17 8DT. In furtherance of It$ charltable objectN8S, the charity18 worklng wlth Its partner, Boumville Rugby Football Club, who n¢)w run and operale Ihe complet•d development. The Trustees have pakl due regard to gUanCe ISSU by the Charlty Commi8$it)n in deciding what adivities the trusl should undertake. Achi•v•m•ntJ and p•rformanc• The facilty op•ned in Seplembor 2018 and is run by Bournville Rugby Football Club undér licence in tandem wlth its operating ami, Avery Flelds Sports & Events Limited. A fN&year partnering agreement with University College Birmingham (UCB) using ihe slte for three days a week during lerm time came to an end in June 2024 and has been extended for one year. The facilty also continues to attract use by other rugby union Clubs, American Football and soccer teams. In addition, Bournville Rugby Football Club continue5 to partner with Enga9e Communlty to provide coa¢hin9 in schools, in the community and at Avery Fields. The Trust's professional team submitted a revised application to Bimlngham City Council's plannlng department to discharge the remaining plannlng condition which relates to drainage. A decision is expeded in January 2025. The following grants were secured, on behalf of the Trust, by the rugby dub's provider {Community Group) of i school coaching, sports camps and communlty sports provision. All granls were gifted lo 8oumville Rugby Football Club or Avery Flelds Sports & Events Ltd, who commissioned Communty Group to deliver the grant requirements. Bardays Football Foundation: £500 Sport EnglarKI: £8,375 Wooden Spoon.. £24,829 Albert Gub8y'.£16,CK)O National Lottery: £9,510 Flnanclal revlow The total income for the year 7APS £176.446 mode up of grants, donations and a payment by UCB. An interest free loan faulity of £2.OM continues wlth a private company, whose owner is connected to the Trust. The loan currently star)ds at £1.868,720. A legally binding agreement to document this cornmitm8nt will be entered into, Gift aid daimed on donalions recelved amounted to £255. Costs for the year total £76.757. The majority of costs. belng £59,990 for business support grants given to Avery Fields Sports & Events Limited.
Docusign Envel¢)pe ID: 306FA259-6ECC4583443Li592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 The surplus at th8 y8ar-end was £99.689 with total funds carried fonward of £3,031.051. Restricted funds ¢afried forward of £2,505,361 represenl monies brought fopward from Persimmon Homes that were expended on the development of Avery Fields and donations made in relation to charitable activilies undertaken. The Trustees have elected lo hold the site al Sandon Road at its fair market value and £2,492,945 is held within Restricted funds as non-distributable fund. UnrestriL#ed furbds of £525.689 represent donations CeIved less costs incurred during the year. During the previou8 year, the Trustees changed the Charivs accounting policy for the recognition of its tangiblé fixed assets. The 8ile at Sandon Road was previously held as a tangible fixed asset under cost less accumulated depreciation. This treatment was reviewed and consequently the site at Sandon Road is now held at fair ¥alue as a programme related investment. The site has been subject to a valuation by a former Chartered SuNeyor, who 1$ a Trustee of the Charity and is held at a fair value of £4.828.097 withln the financial Slalemenls. The Trustees have assessed the major risks to which the trust is exposed and are satisfied that systems are in place to mitige exposure to the major ri8k8. It Is the policy of the Trust that unrestricted funds which have not been deslgnated for a specific use should be rnaintsined al a level equivalenl to between Ihree and six month's expenditure. The Truslees consider that re6errfes at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Trust's rrent activities while consideration is given to ways in wh4ch addilional funds may b• raised. This level of reseNe8 has been maintained throughout the period. However al the time of approvir¥J the financial statemenls, the Trustees have assessed the trusts sltuatlon and the £1.886.307 creditor shown on the balance Sheet. The large creditor ha8 arisen due to part of the development being funded by A company conlrdled by of the Trustees. Plans for futur• p•rlod The scope is to add two addilional changing rooms to the Clubhouse building at the ground fioor at a later date. There is also potential to add a 200 seater-sland and changing room below along the side of the artificial pitch. This would clearly be subject to planning and securing grant funding andlor working with a Strategic partner. The feasibility of adding floodlighting to one of the grass pitches is to be investigated. structur•* gov•rnance and manag•m•nt The o)mpany was formed on 7 December 2016 in England and Wales as a private company Ilmited by guarantee. The memorandum and articles of association govem the company. The Trustees, who are also the d1clOr$ for the purp08e of company law, and who served during the year and up to the date of signature of Ihe financial stslements we. Mr A C Blacklaws Mr D G Clegg MrTMLang The current Trustees comprise a retired Chartered Surveyor, and Iwo practicing SoliL?tors. None of the Trustees has any beneficial intaresl in the Company. All of the Trustees a members of the company and guarantee to contribute £1 in the event of a winding up. Thè Articles of Association require that there are at least three Trustees at all times, they must be aged 18 or over and must be a member. As at the year end. th8re were three members, being the Trustees. The company is managed by its board of Trustees who meet regularfy and deal with operational matters on a day- tO•day basis. A formal Trustees, Meeting is held annually.
Docusign Envelope ID.. 306FA2594ECC45B3-843D-592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 clodIan trusts• The charity holds the freehold int•r•st in Ihe18nd followlng compietlon of aged works. Statomont of Trust••s r•sponslbllttl•s The Tru$lees, wl)o are also the dlrectors of Avery Flelds Community Foundatlon (Fom)erly Avery Fields Communty Sports Trust) for the purpose of company law, are responslble for preparlng the Trustees Report and the finan(aal statements in accordance w6th applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢tlce}. Company Law requires the Trustees to prepare financial statements for each financial year which give a and fair view of the State of affalrs of the Trusl and of the incoming resoufces and application of resources, induding Ihe income and expenditure. of the charitsble company for that paflod. In preparing these finandal statements. the Trustees are required to: - select sultable accounllng policles and then apply them consistenlly., - ob8erve the methods and prindple8 in the Charities SORP: - Make judgements and estimate8 Ihat are reasonable and prudent; state whelher applicable UK Accounting Stsndards have been followed, subject to any material departures disclosed and explained in the financial statements., and - prepare the financial 8tatement8 on Ihe goin9 concem ba818 unle88 it is inappropriate to presume that the Trust will continue in operation. The Twslees are responsible for keeping adequale accounting record$ that disc108e with 8$Onable accuracy at any tim8 the financial position of the Trust and enable them to ensure that the finanaal statements comply with the Companies Act 2CKJ6. They are also re8pon81ble for safeguarding the a$set$ of the Trusl and hence for taking reasonablo steps for the prevention and detection of fraud and other irregularitie8. Public ben•fit statement The Trustees consider thal the obiectives of the charty meet the tesls for public benefit arKI when exercising their powws and duties. The Trustees have complied with their duty lo have due regard to the relevant guidance published by the Charity Commission. BusIn8 rlsk pollcy A risk a85e8smenl policy is in place whid) is robust and recognises Ihe need lo prolect the charity. The Trustees have Consided the vaTlou$ risks which might affed the business and have taken appropriate and reasonable steps lo address those rlsks. Following complelion of the main building contraci and subsequent additional drainage woiks, full responsibillty for the management of the clubhouse and pllches now rests solely with Boumville Rugby Club. Intemal controls a in plac6 to reduce the likelihood of loss through fraud or the misuse of funds and bookkeeping servi¢es a ¢ulsour¢ed. R•r¥•$ pollcy The level of reserves held within restrided funds relates to capital expenditure incurred on conStructn of the sports ground. The level of restricted funds is expected to reduce by future depreciation charged which has been delermined based on the useful economic life of the assets. Following repayment of the outstanding loan. th8 intention Is to build up an unrestricted reserve fund to cover the future development and improvement of facilities,
Docusign Envelcye 10: 3o8FA2S6Eec4S843[s92A1s8E337c AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 The Trustees report vms approved by the Board of Trustees. Slqn•d by: Mr A C Blacktaws Trustea caEA3789213317LI Date.. 7WI2025
Docusign Envehjpe ID.. 306FA2594ECC45B3443D.592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) We report to the Trustees on our examination of the financial statements of Avery Fields Community Foundation {Fonnerly Avery Fields Community Sports Trust) (the Twsl) for the period ended 30 June 2024. Responslbllltles and basls of r•port As the Trustees of the Trust (and also its directors for the purposes of company lawl you are responslble for the preparation of the financial stslements in accordance with the requirements of the Companies Act 2006 (the 2006 Having salisfied oursefves that the financial statements of the Trust are not required to be audrted under Part 16 of the 20IX Act and are ellgible lor independent examination, INe report in resped of our examination ol the Tru81'$ financial statements ffled oul under section 145 of the Charilies Act 2011 (the 2011 Act). In carrying out my examination w8 have followed all Ihe applicable Diredions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independ•nt •xamlnorf8 Statement We have completed our examlnation. We confim that no matters have come lo our attenti¢)n In conn•clion with the examination gNing us cause to believe that in any material respect- accounting records were not kept In respect of the Trust as required by $ectson 386 of the 2006 Act; or the finanaal statement8 do not acc¢yd wlth those re¢ords', or Ihe financial slalemenls do not comply with the accounting requiiemenls of section 396 of the 2006 Act other Ihan any requiremenl Ihal the ac¢ounl$ give a true and fair view whith is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principlès of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their account$ in accordance wilh the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102). We have no concems and have come across no othef matters in ¢onnectlon wlth the examination to wthich attentton should be drawn in th18 report in order to enable a proper und•rstanding of the financial statements to be readwd. PKF Smith Comerblock 2 Comwall St Bim)ingham B3 2DX Dated..
tJ¢vJsign Envelope ID.. 306FA259-6ECC45B3443D-592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 JUNE 2024 Unr•stri¢t•d Rostrlcted funds funds 2024 2024 Total Unrestrlct•d R•$trl¢t•d funds funds 2022 2022 Tolal 2024 2022 Not•& Income from: DonatnS and legacies Charitable activities 69,910 74,910 101,536 13,150 72,750 39,480 52,630 72,750 101,538 Total Incom• 106,536 69,910 176,446 85,900 39,480 125,380 endltur• on: Charitable actNities 16,767 59,990 78,757 26,094 36.984 e3,078 N•t Incom• for tho p•rfodl Not mov•m•nt In funds 89,769 9,920 99,689 59,806 2.496 62,302 Fund balances at 1 January 2023 435.921 2,495.441 2,931.382 376,115 2,492,945 2,869,060 Fund balances at 30 Juno131 D•c•mb•r 526.690 2.506.361 3,031,051 435,921 2,495,441 2,931,362 The statement of financial activities indudes all gains and10sses recognised in the period. The Statement of financial activitles Includes all gains and losses recognl8ed In the perl¢xl. All Income and expenditure derive from continuing activities. The statement of financial activilies 8180 complies with the requirements for an income and expenditure account under the Companies Act 2006.
DocUn Envelope ID.. 306FA259.6EcC45B3.843392Alfj8E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) BALANCE SHEET ASAT30JUNE 2024 2024 2022 Not•$ Flx•d assots Intsngible assets Programme related invesknents 10 12 3.800 4,828,097 4,828,097 4,831,897 4,828.097 Currnnt as••t• Debtors Cash at bank and in hand 13 44,878 40,584 19.495 85,653 85,480 106,148 Cr•dftor8: amounts falllng du• within ono year 14 {1.886,307) (2,CMJ1,883) Net current liabilities (1,800.847) (1,896,735) Total a$$ets l•ss curr•nt Ilabllltl•• 3,031.050 2.931,362 Income funds RestrKled funds Unrestricted funds 15 2,505.381 525.689 2,495,441 435,921 3,031.050 2,931,362 The company is entitled to the exemption from the audit requirement contained in Section 477 of the Companles Ad 2006, for the period ended 30 June 2024. The Trustees ackncrwlèdge I1r re$ponsibiliti•$ for complying with th• réquirements of thè Compani•s Act 2006 with respect to accounting record8 and the pr8pafalion of financial 8tat8ments. The member8 have not required the Company to obtain an audit of Its finandal statements for the period in question in accordance with seclion 476. These financial statements have been prepared in accordance with the provisions appllc8bl8 to companies subject to th• small companies regime. The financial slatements were approved by ihe Trustees on ...... Mr A C Bla¢klaws Trusts• Company reglstratlon numb CgEA37692133470
Docusign Envebpe ID: 306FA2WECC45B3443D.592A168E337C AVERY FIELDS COMMUNrrY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 JUNE 2024 Accountlng pollcl•s Charlty Onforniatlon Avery Fields Communty Foundation Is a private C£•mp8ny, limited by guarantee. Incorporated in England and Wales. Th8 registered office is 79 Sandon Road. Edgbaston, Birniingham, B17 8DT. The company and tharity number is given on the legal and administrative inforniation page. 1.1 Accounting convontlon The financlal statements have been prepared in arxordance with the Trust's goveming document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of lieland. ('FRS 102.} and the Charities SORP "Acun.ng and Reporting by Chafities.. Ststement of Recommended Prath'ce applicable to charilies prepartng their accounts in accordance with the Financial Reportlng Slandard applicable In the UK and Republic of Ireland {FRS 102)" (effactive 1 January 2019). The Trust Is a Public Benefrt Entity as defined by FRS 102. The Trust has taken advantage of the prov18ions In the SORP for ¢harilie$ not to prepare a Statemenl of Cash Flovts. The financlÈl statements are prepared in sterling, which 1$ the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been ppared under the historical cost convention, rnodffied by the revaluation of programme related investments. The principal accounting policies adoptad are sel out below. 1.2 Chang• In r•portlng p•rfad Th• financial statements cover an 18 month accounting period from 1 January 2023 to 30 June 2024. The reporting period was extended to align with other group companies. As a resurt. the reported figures for the current and comparative year may not be entirely comparable. 1.3 Golng conc•rn At the time of approving the financial statements, the tfustees have assessed Ihe trusts situation and the have a reasonable expectalion that the trust has adequate resources and working capital to continue in operational existence for Ihe foreseeable future. Thus the Irustees continue lo adopt the going concern basis of accounling in preparing the financlal statements. 1.4 Charltable funds Unrestricted fvnds are available for use at the discretion of the Trustees In furtherance of thelr charltable objectives. Restricted funds are subject to specific conditions by donor5 or grantors as lo how they may be used. The purp038s and uses of Ihe restricted funds are set out in the ngtes to Ihe financial statements. 1.5 Incom• Inrne is recognised when the Trust is legalty entilled lo it after any performance conditions have been met, the amounts can be measured reliably. and it 15 probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless perfomance conditions require deferral of the amount. Inme tax recoverable in relation to donations received under Gift Aid or deeds of covenant is regnIsed al the tirne of the donation. Tumover is measured at the fair value of the consideralion received or receivable and represents amounts receivable for goods and s8piic8s provided in the normal course of business, nel of discounts. VAT and other sales related taxes.
rcun Envelope ID.. 306FA259-6ECC45B3-843D-592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 Accounllng policlos (Contlnuod) 1.6 Exp•ndlture Liabilities are recognised as expendfture as soon a$ there Is a legal or con$tru¢tive obligation MMItt1ng the trust to that expenditure, it is probable that a transfer of economic benefits will b8 required in settlement, and the amount of the obligation ¢an be meaSUd lIablY. Expenditure is accounted for on an accruals basis and has been daSsifd under headings that aggregate all costs related to the category. l•lihere costs cannot be diredly attributed to particular headings they have been allocated to activities on a basis consistent wilh the use of resources. Charitable expenditure comprises Ih08e cosls incurred by the trust in the delivery of its activltl8s and 8erilce$ for its beneficiaries. it includes both costs that ¢an be allocatsd diredly to SUGh activilies and those cosls of Indirect nature necessary to 8UPPOrt them. 1.7 Intanglbh fixod assets other than goodwlll Intangible assets acquired separately from a business a recognised at cost and are subsequentty measured al cost less accumulated amortisation and accumulated Impairment losses. Amortl$allon Is recognised so as to vKite off the cost or valuation of a88et8 less thelr residual values over their useful live8 on the following bases.. Sofviare 20•/0 slraighl line 1.8 Tanglbl• fix a•s•ts Tangible fixed assets are Inlilally measured at tX)st and sub8equenlty measured at Mst, net of depreclatr)n and any impairment1088es. Depreciation 18 re¢ogni$ed $0 a8 to wrlte off the cost of assets less their residual values over their useful live8 on the following bases: Computer equlpment 33% straight Ilne The assets residual values, useful lives and depreciation mettK)ds are reviewed and adjusted prospectwely If appropriate. or If ther8 is an indication of a signifunt chang& since the last reporting dat8. 1.9 Programme relatod Investments Programme related investments, are tangible assets held lo further the Charity's charitable pufposes. weré initially hèld a cost, which includès the purchas8 price and any dir8Ctly attributable expendilure. Subsequently thèy are measured at fair value at the reporting date. The surplus or deficit on revaluatson is re¢ognised in the Statement of financial activities under reslricted or un-reslrided fvnds. 1.10 Cash and cash •qulvalents Cash and cash equivalenls include cash in hand and deposlts held at call with banks.
Doojsign Envelope ID.. 306FA2596ECC45BM43D.592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 A¢counllng polici•s (cont5ndI 1.11 Flnanclal Instruments The Trust has elected to apply the provisions of Seclion 11 '8asic Financial Instruments, and Section 12 'Olher Finanual Instruments Issues, of FRS 102 to all of rts financial instruments. Financial instruments are recognised in the Trusvs balance sheel when Ihe Trust becomes paty to Ihe contractual provlslons of the instrument. Financial assets and liabilities are offset, wbth the net amounts pres8nted in the financial ststements, when there is a18gally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liabilty simultaneously. 1.12 Taxallon The twst Is exempt from ¢orporation tax on its charitable actlvilies. as desuibed in note 9. 1.13 D•btor• Short temi debtors are meaSUd at transaction price, less any impaimient. 1.14 Credltors Short temi creditors are measured at transaction pr1¢. Criti¢al a¢¢ounting •8timat•$ and Judg•m•nt8 In Ihe application of Ihe Trust's accounling policies, the Trustees are required to mak8 Judgements, 8siimates and assumptions aboul the carrying amount of assèts and liabilities that are not readily apparent from other sources. The estimates and assocAated assumptions are based on historic41 experience and olher factors that are considered to be relevant. Actual results may differ from these estimates. There are no significant judgemenls (apart from those involving estimates) which have had an effect on the accounts recognised in the financial ststements. Donatlons and legacl• Unrostrfcted Restrlcted funds funds Total Unr•strfcted Ro•tricted funds funds Total 2024 2024 2024 2022 2022 2022 Donations and gifts Grants 5,000 5,000 69.910 6,150 7,000 6,150 46,480 69,910 39,480 5,000 69.910 74.910 13.150 39.480 52,830 10-
Docusign Envelop? ID.. 306FA259-8ECC4583-843Ck592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 Charltabl• aetlvltl•s 0th4r Incom• Glft Ald r•elalm•d 2024 Total Total 2024 2022 Other income Gift aid 101,281 101,281 255 55.223 17,425 255 101,281 255 101,536 72,648 Other income is comprised of branding and rental income for use of the wnd's facililies. Charltsblo actlvlll Exp•ndltur• Exp•ndltur• 2024 2022 Amortisation and impairmenl Rates Repair8 and malntenanca Legal and proles$ion81 fees Sundry expenses Business support grant 1,200 5,370 1,e89 1,260 1,394 9,652 921 213 45,985 59.990 69,784 58,166 Share of govemance ¢o$ts (see note n 6,913 4,863 Share of Support costs (see note 6) 49 8.973 4,912 Analysls by fvnd Unrestricted funds Restricted funds 16,767 59,990 26,094 36,984 76.757 63,078 11
Dotyslgn ¥810 ID: 306FA25ECc45B43o.592AlGeE337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 Support ¢08ts Support Govemance ¢o$t5 costs 2024Support costs Governance CA)Sts 2022 Bank charges 80 49 Professional services and fees 6.913 6.913 4,863 4,863 6.913 6.973 49 4,863 4,912 Analysed between Charitable activities 6.913 6,973 49 4,883 4,912 Govemance costs includes Paym1$ to the independent oxaminers of £1,000 (2022 independent èxamination fees. £1,000) for Tru8t••8 None of the Trustees {or any persons conn•clad with them) recebved any remuneration or benefits from the Trust during the period. No trustee expenses have been incurred and none of the trustees clalmed any expenses from the trust during the year (2022 - None}. Employ• The average number of persons. including trustees, employed during the year was 3 (2022- 3). Taxatlon The charity is an exempl charity within Ihe meaning of sthedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. 12-
Docusign Envelope 10.. 30fjFA2594ECC45B3-843D-592A168E337C AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 10 Intanglbl• fixed *• Softr• Cost At 1 January 2023 Addltions 5,000 At 30 June 2024 5,000 Amortlsatlon Al 1 January 2023 Amortisalion charged for the period 1,2¢X) At 30 June 2024 1.2LN) Carrylng amount At 30 Jun• 2024 3.800 At 31 December 2022 11 Tanglbl• flx•d a$$ets Carnput•r •qulpm•nt Al 1 January 2023 8.103 AI 30 June 2024 6.103 D•pr•clatlon At 1 January 2023 6,103 At 30 June 2024 6.103 Carrylng amount At 30 June 2024 12 Programmè r•l•ted Inv•stmonts 2024 Falrvalu• At 1 January 2023 and 30 June 2024 4,828,097 The programme related investment has been subpct to a valuat•)n by a former Chartered sUeyOr, who is a Trustee of the Charity- The Trustees are of the opinion that Ihis valuation is a reasonable estimate of the martet value of the site at Sandon Road at 30 June 2024. 13-
Docusign Envelope ID.. 306FA259.6EcC4s83443s924168E337c AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 12 Programmè rnlat•d Invéstments {Contlnued) If the slte at Sandon road rAintinuted to be held on a historical cost basis rather than as a prograrnme releated investment, the amounts thal woukl have been induded in the finanaal statements are as follows.. 2024 2022 Cost Accumulated depr8ciation 3,209,099 3,209.099 (1,336,080) (1,083,198) Carying amount 1,873,018 2,125,901 13 Dobtors 2024 2022 Amounts lalllng du• wlthln on• y•ar. Trade debtors Other debtors Prepayments and accrued incorne 24,142 20,215 519 6,000 7,800 5,695 44,878 19,496 14 Credltors: amounts falllng due wlthin on• y•ar 2024 2022 Other laxalion and social Security Trade credltors Other creditors Accruals and deferred income 5.105 732 1,868,720 11,750 371 348 1,973,720 27,444 1,886,307 2,001,883 Included within other uedilors is £1,888,720 <2022: £1,973,720) due to r8lated parties. Further detslls surrounding this are disclosed in note 17 to these financial statements. 14-
DrAtsign Envdop8 ID.. 306FA2SECC4SB&8l3g2A168E337c AVERY FIELDS COMMUNITY FOUNDATION (FORMERLY AVERY FIELDS COMMUNITY SPORTS TRUST) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 JUNE 2024 15 Restrfcted fund$ The restricted funds of the d)arty comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Movement In funds Incomlng R•Bourc•¥ B•l*n¢• •t ro•ourc•• •xp•nd•d 1 January 2023 Movement in funds In¢omlng R•xour¢•• Ba••n at eXpd•d 30 2024 8•l•nG• •1 1 January 2022 Persirnmon Homes National Lottery Communily Fund Sport8 Heritsge Sports England e8lchair wgby donations Walking rugby donallons Albert Gubay grant 8arcloy$ Football Foundation Wooden Spoon 2,492,945 2,492.945 2.492.945 9,930 7.800 3.255 (9,930> (7.800) (3.255) 9.510 {9.510) 14,071 (14,071) 1.001 1.001 (1,001) 1.495 16,000 {16,CQO) 1.495 (6,495) <16,000) 16,000 (5001 (12.4131 24,829 12.416 2,492,945 39,481 {36,985) 2,495.441 69.910 <59,990) 2,505.361 16 Analys18 of n•t a85•ts botw••n funds A3 r••tst•d A¥ r••t•t•d A• r••tal•d Total Unr••trfcted Re•trlctgd Total fund• funds 2022 2022 Unr•$trl¢t•d R•$trf¢t•d funds funds 2024 2024 2024 2022 Fund balances at 30 June 2024 are represented by: Intangible fixed asset8 3,800 3,800 Investment properties 2.335,152 2.492.945 4.828,097 2.335.152 2,492,945 4.828,097 Current 8Ssets1(liabilities) (1,813,263) 12,416 {1.800,84n 11.899,231) 2,496 {1,896.735) 525.689 2,505.361 3.031.050 435.921 2,495.441 2.931.362 17 Rolat•d party tran•actlon8 During the year. advances of £nil {2022: £nil) were made from Tansoo Investrnents Ltd, a company owned by Mr A C Blacklaws. Repayments of £105,00012022.. £50.OIXIi were made during the year. As at 30 June 2024. £1,868,720 {2022: £1,973,720) was induded in other creditors in respect of amounts due to Tansoo Investments Ltd. Th8 loan carries no interest and will be repaid as funding allows. 15-