Stonesfield Playing Field Association CIO
Unaudited Financial Statements 31 March 2024
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 2024. 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:
M Hatton
B Clarke
A Tacon
F Huddleston
K Patterson
F Dangerfield (resigned 30 November 2023)
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:
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Maintain the facilities to an adequate standard that provides for both amateur sports and general recreational use
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Engage with other village organisations and amateur sports clubs for the benefit of all inhabitants of Stonesfield parish
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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
This year has not featured any capital projects and the results reflect normal levels of activity.
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 £9,093 comprising a surplus on restricted income funds of £4,616 and a surplus on unrestricted income funds of £4,477.
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 5 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:
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Select suitable accounting policies and then apply them consistently.
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Observe the methods and principles in the Charities SORP.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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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 8 April 2024
Statement of financial activities
Receipts and Payments account
For the year ended 31 March 2024
| Unrestricted income funds Restricted income funds Total funds Unrestricted income funds Restricted income funds Total funds |
|
|---|---|
| 2024 2024 2024 2023 2023 2023 |
|
| £ £ £ £ £ £ |
|
| Income from: | |
| Stonesfield Parish Council grants | - 2,500 2,500 2,232 1,000 3,232 - - - 2,500 2.500 6,708 4,000 10,708 3,985 16,700 20,685 |
| Sports & Social Club donation | |
| Other income | |
| Total income | 6,708 6,500 13,208 8,717 17,700 26,417 |
778 - 778 796 - 796 1,013 1,884 2,897 7,010 1,450 8,460 - - - 1,053 18,390 19,443 - - - - - - 420 - 420 493 - 493 |
|
| Expenditure on: | |
| Insurances | |
| Playing Field maintenance | |
| Outdoor gym | |
| Legal fees | |
| Other | |
| Total expenditure |
2,231 1,884 4,115 9,352 19,840 29,192 |
| 4,477 4,616 9,093 (635) (2,140) (2,775) |
|
| Net income / (expenditure) |
|
| 18,124 - 18,124 18,759 2,140 20,899 4,477 4,616 9,093 (635) (2,140) (2,775) |
|
| Reconciliation of funds: | |
| Total funds brought forward | |
| Net income / expenditure for year | |
| Total funds carried forward | 22,601 4,616 27,217 18,124 - 18,124 |
Balance sheet
At 31 March 2024
| Balance sheet At 31 March 2024 |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted |
Total | Total | ||
| income funds | income funds |
funds | Funds | ||
| 2024 | 2024 |
2024 | 2023 | ||
| £ | £ |
£ | £ | ||
| Fixed assets | 1 | - |
1 | 1 | |
| Current assets | |||||
| Cash at bank and in hand | 22,600 | 4,616 |
27,216 | 18,123 | |
| 22,600 | 4,616 |
27,216 | 18,123 | ||
| Current liabilities | |||||
| Creditors: amounts falling due | |||||
| within one year | - | - | - | - | |
| Net current assets | 22,600 | 4,616 |
27,216 | 18,123 | |
| Total assets less current liabilities | 22,601 | - |
18,124 | 18,124 | |
| Total funds carried forward | 22,601 | 4,616 |
27,217 | 18,124 |
|
| Analysis of total funds | |||||
| Childrens play area renewal reserve | 9,000 | - |
9,000 | 7,500 | |
| MUGA renewal reserve | 5,000 | - |
5,000 | 3,750 | |
| Hedge trimmer fund | - | 2,500 |
2,500 | - | |
| General reserves | 8,601 | 2,116 |
10,717 | 6,874 | |
| Total funds carried forward | 22,601 | 4,616 |
27,217 | 18,124 | |
Approved by the trustees on 8 April 2024 and signed on their behalf by:
Andrew Tacon FCA Trustee and Treasurer