## **THE VICTORIA FIELD CHARITY CIO** 

## **ACCOUNTS** 

## **YEAR ENDED 31 MARCH 2022** 

|CONTENTS|PAGE|
|---|---|
|Trustees' report|1-2|
|Independent accountants' report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the accounts|6-9|



Registered Charity number 

1182923 



## **THE VICTORIA FIELD CHARITY CIO** 

## **TRUSTEES' REPORT** 

The trustees present their report with the statutory accounts of the charity for the year ended 31 March 2022. 

## **PRINCIPAL ACTIVITIES AND OBJECTIVES** 

The principal activities of the charity during the year under review were to provide or assist in the provision of facilities for the inhabitants of the district of Mendip, and in particular the parish of Street or the neighbourhood thereof, for recreation or other leisure-time occupation in the interests of social welfare, with the object of improving the conditions of life for the said inhabitants. 

## **TRUSTEES** 

The trustees holding office during the period were as follows: 

Richard Clark Christopher Tinnion (Resigned 19/04/2022) Lesley Hide Cllr Terry Napper (resigned 01/03/2022) Peter Goater Pamela Birch (Resigned) Anthony Morgan 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

The Victoria Field Charity CIO is a foundation charitable incorporated organisation registered on 10 April 2019, becoming operational from 1 October 2019 with net assets transferred from the previous charity with effect from that date.  Its registered charity number is 1182923 and the address of its principal office is Victoria Field, Leigh Road, Street, Somerset BA16 0HB. 

The charity trustees manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO.  Except for the first trusteees, all trustees are appointed for 3 years. 

The existing trustees appoint new trustees in a properly convened meeting of the charity trustees.  The maximum number of charity trustees is 9 and the minimum 3. The following bodies may nominate and appoint up to 2 trustees each -Street Parish Council and Clark Foundation. 

Any trustee can call a meeting of the charity trustees and subject to that the trustees decide how their meetings are called and what notice is required. 

The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems or procedures have been established to manage those risks. 

Page 1 



## **ACHIEVEMENTS AND PERFORMANCE** 

The core business of the charity is to manage and maintain buildings and playing areas.  These are used by the sporting and recreational clubs affiliated to the Charity and are also available for general hire.  In addition, accommodation and services are provided for the Victoria Field Social Club, with Social Club membership being a prerequisite to membership of affiliated clubs. 

## **FINANCIAL REVIEW** 

The Charity's advisors are: 

Accountants 

Max Foote Associates Limited, 2 Bailey Hill, Castle Cary, Somerset, BA7 7AD 

## ON BEHALF OF THE TRUSTEES 

Chairman 

Dated: 

Page 2 



## **INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF THE VICTORIA FIELD CHARITY CIO** 

I report on the accounts of The Victoria Field Charity CIO for the year ended 31 March 2022 which are set out on pages 4 to 9. 

## **Respective responsibilities of trustees and reporting accountant** 

The charity's trustees are responsible for the preparation of the accounts.  They consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011) and that an independent examination is needed. 

It is my responsibility to examine the accounts (under section 145 of the Charities Act 2011), to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act 2011) and to state whether particular matters have come to my attention. 

## **Basis of independent examiners' report** 

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners.  An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records.  It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters.  The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, we do not express an audit opinion on the view given by the accounts. 

## **Independent examiners' statement** 

In connection with our examination, no matter has come to our attention which gives us reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with s130 of the Charities Act 2011 and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Charities Act 2011 have not been met, or to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Maxwell Foote Max Foote Associates Limited Chartered Certified Accountants 2 Bailey Hill Castle Cary Somerset BA7 7AD 

Dated: 

Page 3 



## **THE VICTORIA FIELD CHARITY CIO** 

## **STATEMENT OF FINANCIAL ACTIVITIES** 

## **YEAR ENDED 31 MARCH 2022** 

||Note|2022|2022|2022|2021|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||Fund|Funds|||
|||£|£|£|£|
|**Income and endowments**||||||
|Donations|2|-|2,000|2,000|-|
|Charitable activities|3|69,322|-|69,322|25,111|
|Investment income - interest received||-|-|-|2|
|Other|4|22,048|-|22,048|73,523|
|||---------------|---------------|-------------|----------------------|
|**Total income**||91,370|2,000|93,370|98,636|
|||---------------|---------------|-------------|----------------------|
|**Expenditure**||||||
|Charitable activities|5|87,225|2,000|89,225|67,051|
|Other|5|15,178|-|15,178|15,391|
|||---------------|---------------|-------------|----------------------|
|**Total expenditure**||102,403|2,000|104,403|82,442|
|||---------------|---------------|-------------|----------------------|
|**Net income representing a net movement in funds**||(11,033)|-|(11,033)|16,194|
|**Reconciliation of funds**||||||
|Total funds brought forward||507,822|-|507,822|491,628|
|||---------------|---------------|-------------|----------------------|
|**Total funds carried forward**||496,789|-|496,789|507,822|
|||========|========|=======|============|



Page 4 



**THE VICTORIA FIELD CHARITY CIO** 

## **BALANCE SHEET AT 31 MARCH 2022** 

||Note||2022||2021|
|---|---|---|---|---|---|
||||£||£|
|**Fixed assets**||||||
|Tangible assets|8||476,324||475,001|
|**Current assets**||||||
|Debtors|9|19,962||20,871||
|Cash at bank and in hand||27,800||71,678||
|||-------------||---------------||
|**Total current assets**||47,762||92,549||
|**Creditors**||||||
|Amounts falling due within one year|10|(20,274)||(32,614)||
|||-------------||---------------||
|**Net current assets**|||27,488||59,935|
||||-------------||---------------|
|**Total assets less current liabilities**|||503,812||534,936|
|**Creditors**||||||
|Amounts falling due after more than one year|10||(7,023)||(27,114)|
||||-------------||---------------|
|**Total net assets**|||496,789||507,822|
||||=======||========|
|**The funds of the charity:**||||||
|Restricted income funds|11||-||-|
|Unrestricted income funds|11||496,789||507,822|
||||-------------||---------------|
||||496,789||507,822|
||||=======||========|



The accounts were approved by the trustees on 

ON BEHALF OF THE TRUSTEES 

CHAIRMAN - 

TREASURER - 

Page 5 



**THE VICTORIA FIELD CHARITY** 

**NOTES TO THE ACCOUNTS** 

## **YEAR ENDED 31 MARCH 2022** 

## 1. ACCOUNTING POLICIES 

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts. 

## **1.1) Basis of accounting** 

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the notes to these accounts. 

The accounts have also been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (September 2015) and the Charities Act 2011. 

## **1.2) Recognition of income** 

Income is included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources, and the monetary value can be measure with sufficiently reliability. 

## **1.3) Liability recognition** 

Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources, and the amount of the obligation can be measured with reasonable certainty. 

## **1.4) Governance and support costs** 

Support costs have been allocated between governance costs and the provision of leisure facilities. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.  Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of the resources. 

## **1.5) Tangible fixed assets for use by the charity** 

Tangible fixed assets held for the charity's own use are stated at cost less accumulated depreciation and accumulated impairment losses. 

Depreciation has been computed to write off the cost of tangible fixed assets less residual value over their expected useful lives using the following rates:Fixtures, fittings and equipment    20% straight line Computer equipment                     33% straight line 

The Charity's permanent freehold buildings have not been depreciated.  The fabric of these buildings will be maintained to a high standard and as a result their useful life will not be impaired. At each balance sheet date, the charity reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss.  If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.  Where it is not possible to estimate the recoverable amount of the asset, the charity estimates the recoverable amount of the cash-generating unit to which the asset belongs. 

## **1.6) Funds structure** 

## Unrestricted fund 

Income within this fund has been generated by the charity and the use of such income has not been restricted to a particular purpose.  In addition to meeting the costs of activities in furtherance of the charity's objects, the unrestricted fund has to pay for the general administration of the company. 

## Restricted funds 

These are funds restricted to a particular purpose. 

Page 6 



**THE VICTORIA FIELD CHARITY CIO** 

## **NOTES TO THE ACCOUNTS** 

## **YEAR ENDED 31 MARCH 2022** 

## **2 INCOME AND ENDOWMENTS** 

|**2**|**INCOME AND ENDOWMENTS**|||||
|---|---|---|---|---|---|
|||||Total funds|Total funds|
|||Unrestricted|Restricted|2022|2021|
|||funds|funds|£|£|
||Donations|-|2,000|2,000|-|
|||=========|========|=========|========|
|**3**|**INCOME FROM CHARITABLE ACTIVITIES**|||||
||Hire of facilities|12,350|-|12,350|1,986|
||Rent receivable from sports sections|28,046|-|28,046|13,889|
||Rent receivable from social club|25,288|-|25,288|7,729|
||Recharge of costs to social club and sports sections|3,638|-|3,638|1,507|
|||-----------------|---------------|-----------------|---------------|
||**Total income from charitable activities**|69,322|-|69,322|25,111|
|||=========|========|=========|========|
|**4**|**OTHER INCOMING RESOURCES**|||||
|||||Total funds|Total funds|
|||Unrestricted|Restricted|2022|2021|
|||funds|funds|£|£|
||Miscellaneous refunds|-|-|-|1,620|
||Government and local authority grants|22,048|<br>-|22,048|71,903|
|||-----------------|---------------|-----------------|---------------|
|||22,048|<br>-|22,048|73,523|
|||=========|========|=========|========|
|**5**|**EXPENDITURE**|||||
|||Activities||||
|||undertaken|Support|Total|Total|
|||directly|Costs|2022|2021|
||**Expenditure on charitable activities - restricted**|£|£|£|£|
||Improvement of recreation and leisure facilities|2,000|-|2,000|-|
||Repairs and renewals||-|-|-|
|||-----------------|---------------|-----------------|---------------|
|||2,000|-|2,000|-|
|||=========|========|=========|========|
||**Expenditure on charitable activities - unrestricted**|||||
||Rates|276|-|276|-|
||Water rates|1,987|-|1,987|2,359|
||Improvement of recreation and leisure facilities|1,100|-|1,100|-|
||Repairs and renewals|4,437|-|4,437|2,437|
||Grounds maintenance|8,739|-|8,739|3,720|
||Heat and light|21,721|-|21,721|13,008|
||Leasing charges|434|-|434|1,154|
||Cleaning|2,205|-|2,205|899|
||Donations|150|-|150|-|
||Irrecoverable VAT|2,853|-|2,853|1,737|
||Support costs - note 6|-|43,323|43,323|41,737|
|||-----------------|---------------|-----------------|---------------|
|||43,902|43,323|87,225|67,051|
|||=========|========|=========|========|
||**Other Expenditure**|||||
||Legal, professional and licences|1,192|-|1,192|384|
||Audit and accountancy|1,689|-|1,689|1,378|
||Support costs - note 6|-|12,297|12,297|13,629|
|||-----------------|---------------|-----------------|---------------|
|||2,881|12,297|15,178|15,391|
|||=========|========|=========|========|



Page 7 



**THE VICTORIA FIELD CHARITY CIO** 

## **NOTES TO THE ACCOUNTS** 

## **YEAR ENDED 31 MARCH 2022** 

## **6 ALLOCATION OF SUPPORT COSTS BY ACTIVITY** 

|||Provision||||
|---|---|---|---|---|---|
||Apportionment|<br>of leisure||Total|Total|
||method|facilities|Governance|2022|2021|
|||£|£|£|£|
|Salaries|Headcount|35,961|10,716|46,677|47,076|
|Pension contributions|Headcount|334|-|334|355|
|Insurance|Actual|5,215|-|5,215|5,307|
|Telephone|Usage|462|463|925|772|
|Postage, stationery and computer consumables|Usage|684|685|1,369|874|
|Advertising|Actual|475|-|475|92|
|Bank charges|Usage|119|359|478|746|
|Sundry expenses|Usage|25|25|50|-|
|Depreciation of fixtures and equipment|Usage|48|49|97|144|
|||---------------|----------------|---------------|---------------|
|||43,323|12,297|55,620|55,366|
|||========|=========|========|========|



## **7 STAFF COSTS** 

|**STAFF COSTS**|||
|---|---|---|
||2022|2021|
||£|£|
|Gross wages and salaries|46,677|47,076|
|Pension contributions|334|355|
||---------------|---------------|
||47,011|47,431|
||========|========|
|Average number of employees|6|6|
||========|========|



The trustees received no remuneration for their role as trustees in the period. 

## **8 TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
||Freehold|Fixtures &|Total|
||property|equipment||
||£|£|£|
|COST||||
|At 1 April 2021|475,000|1,089|476,089|
|Additions|-|1,420|1,420|
|Disposals|-|-|-|
||---------------|----------------|---------------|
|At 31 March 2022|475,000|2,509|477,509|
||---------------|----------------|---------------|
|DEPRECIATION||||
|At 1 April 2021|-|(1,088)|(1,088)|
|Charge for the period|-|(97)|(97)|
|Eliminated on disposals|-|-|-|
||---------------|----------------|---------------|
|At 31 March 2022|-|(1,185)|(1,185)|
||---------------|----------------|---------------|
|NET BOOK VALUE||||
|At 31 March 2022|475,000|1,324|476,324|
||========|=========|========|
|At 31 March 2021|475,000|1|475,001|
||========|=========|========|



Page 8 



## **THE VICTORIA FIELD CHARITY CIO** 

## **NOTES TO THE ACCOUNTS** 

## **YEAR ENDED 31 MARCH 2022** 

|**9**|**DEBTORS**||||
|---|---|---|---|---|
|||2022||2021|
|||£||£|
||Trade debtors|1,880||0|
||Amounts due from Victoria Field Social Club|17,524||17,524|
||Other debtors|558||3,347|
|||---------------||---------------|
|||19,962||20,871|
|||========||========|
|**10**|**CREDITORS - amounts falling due within one year**||||
|||2022||2021|
|||£||£|
||Bank loan|2,161||6,778|
||Trade creditors|-||-|
||Other creditors|18,113||25,836|
|||---------------||---------------|
|||20,274||32,614|
|||========||========|
||**CREDITORS - amounts falling due after more than one year**||||
||Bank loan|7,023||27,114|
|||========||========|
|**11**|**MOVEMENTS IN FUNDS**|Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|||£|£|£|
||At 1 April 2021|507,822|-|507,822|
||Net movement in funds in period|(11,033)|-|(11,033)|
|||---------------|-----------------|---------------|
||Balance at 31 March 2022|496,789|-|496,789|
|||========|=========|========|



Page 9