## **Stonesfield Playing Field Association CIO**
**Unaudited Financial Statements 31 March 2021**
## **Stonesfield Playing Field Association CIO**
## **Trustees’ statutory report**
The trustees present their report together with the unaudited financial statements for Stonesfield Playing Field Association CIO for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) published in July 2014. The charity is governed by its constitution adopted on its registration as a charity on 10[th] December 2018.
## **Reference and administrative details**
Registered charity name Stonesfield Playing Field Association CIO Registered charity number 1181091 Principal address Field Close, Stonesfield, Witney, Oxon OX29 8HA
## **Trustees of the charity**
The trustees who have served during the period were as follows:
A Bryon M Hatton B Clarke
A Tacon
F Huddleston K Patterson
B Tomlin
D Baldwin
## **Objectives and activities**
The trustees must apply the income of the charity in furtherance of the main charitable objectives which are to provide and manage the playing field and its recreational facilities for the inhabitants the Parish of Stonesfield. In furtherance of these objectives the Trustees will:
- Maintain the facilities to an adequate standard that provides for both amateur sports and general recreational use
- Engage with other village organisations and amateur sports clubs for the benefit of all inhabitants of Stonesfield parish
- Provide and assist in the development of the facilities to encourage both organised and general sporting and recreational use by different village groups including, but not limited to, children, youths and any disabled inhabitants of Stonesfield parish
## **Public Benefit Statement**
The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.
## **Achievements and Performance**
On 31st March 2019 the trustees of Stonesfield Playing Field (registered charity number 304379) agreed to merge with Stonesfield Playing Field Association CIO and to transfer all of that charity’s property to this charity. On 25th June 2020 the trustees of Stonesfield Playing Field signed a general vesting declaration whereby all its unrestricted property was transferred as of that date. From 25[th] June 2020 all that charity’s activities are now conducted through this charity.
On 2nd March 2021 a transfer agreement was signed whereby title to the land comprising the playing field was transferred from Stonesfield Parish Council (who held the land in their capacity as Custodian Trustee for Stonesfield Playing Field (charity number 304379) to Stonesfield Playing Field Association CIO.
The highlight of this year’s activities has been the successful campaign to raise funding for a replacement for the charity’s extremely old tractor. The Crowdfunding campaign achieved our £10,000 target thanks particularly to a matched funding offer of £5,000 from Sovereign Housing’s Thriving Communities Fund. Together with other fundraising we have raised a total of £17,573 towards the cost of a replacement tractor and working in conjunction with Stonesfield Sports and Social Club a further £18,508 grant funding was secured by them, enabling an order to be placed for delivery in May 2021.
## **Financial review**
## **Results**
The charity’s principal sources of income and payments made are summarised in the attached receipts and payments account. The charity achieved an overall surplus for the year of £12,870 comprising a surplus on restricted income funds of £16,801 and a deficit on unrestricted income funds of £3,931.
## **Taxation**
The charity is entitled to those exemptions from UK taxation available in law to charities.
## **Reserves Policy**
Charitable unrestricted reserves are defined as income which becomes available to the charity and is to be spent at the trustees’ discretion in furtherance of any of the charity’s objectives but which is not yet spent, committed, or designated.
The unrestricted reserves of the charity are represented by the accumulation of cash reserves from surpluses of receipts over payments in both the current and past financial years plus past investment in the physical assets of the charity. The level of free cash reserves will be reviewed regularly by the trustees and the charity’s policy is to retain accumulated funds at a sufficient level to cover its annual running costs independent of any ring-fenced funds designated for future capital projects.
## **Structure, governance and management**
At the end of the period the Board comprised 8 trustees all of whom served on the board throughout the year.
The trustees hold, at a minimum, half yearly meetings to consider all aspects of the charity’s activities.
## **Statement of trustees’ responsibilities**
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and the Financial Reporting Standard in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements the trustees are required to:
- Select suitable accounting policies and then apply them consistently.
- Observe the methods and principles in the Charities SORP.
- Make judgements and estimates that are reasonable and prudent.
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Financial Reporting Standard in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the board
Andrew Tacon FCA Trustee and Treasurer 17 May 2021
## **Statement of financial activities**
## **Receipts and Payments account**
_**For the year ended 31 March 2021**_
||Unrestricted
income funds
Restricted
income
funds
**Total**
**funds**
Unrestricted
income
funds
Restricted
income
funds
**Total**
**funds**|
|---|---|
||2021
2021
**2021**
2020
2020
**2020**|
||£
£
**£**
£
£
**£**|
|**Income from:**|
|
|Stonesfield Parish Council grants|245
-
**245**
-
-
**-**
1,300
-
**1,300**
-
**-**
800
17,239
**18,039**
-
-
**-**|
|Sports & Social Club donation||
|Other income||
|**Total income**|**2,345**
**17,239**
**19,584**
**-**
**-**
**-**|
||
1,248
-
**1,248**
-
-
**-**
794
36
**830**
-
-
**-**
1,516
-
**1,516**
-
-
**-**
2,451
-
**2,451**
-
-
**-**
266
402
**668**
-
-
**-**|
|**Expenditure on:**||
|Insurances||
|Playing Field maintenance||
|Lighting for MUGA||
|Legal fees||
|Miscellaneous||
|**Total expenditure**
|**6,276**
**438**
**6,714**
**-**
**-**
**-**|
||**(3,931)**
**16,801**
**12,870**
**-**
**-**
**-**|
|**Net income / (expenditure)**
||
||-
-
**-**
-
-
**-**
(3,931)
16,801
**12,870**
-
-
**-**
17,624
36
**17,660**
-
-
**-**|
|||
|**Reconciliation of funds:**||
|Total funds brought forward||
|Net income / expenditure for year||
|Transferred from Stonesfield
Playing Field||
|**Total funds carried forward**|**13,693**
**16,837**
**30,530**
**-**
**-**
**-**|
## **Balance sheet**
_**At 31 March 2021**_
|||Unrestricted
income funds|Restricted
income funds|**Total**
**funds**|
|---|---|---|---|---|
|||2021|2021|**2021**|
|||£|£|**£**|
|||1|-|**1**|
|**Fixed assets**|||||
|||13,692|16,837|**30,529**|
|**Current assets**|||||
|Cash at bank and in hand|||||
|||13,692
-|16,837
-|**30,529**
**-**|
|**Current liabilities**|||||
|Creditors: amounts falling due
within one year|||||
|**Net current assets**||13,692
13,693|16,837
16,837|**30,529**
**30,530**|
||||||
|**Total assets less current liabilities**|||||
|||**13,693**|**16,837**|**30,530**|
|**Total funds carried forward**|||||
Approved by the trustees on 17 May 2021 and signed on their behalf by:
Andrew Tacon FCA
Trustee and Treasurer