THE VICTORIA FIELD CHARITY CIO ACCOUNTS YEAR ENDED 31 MARCH 2024 CONTENTS PAGE Trustees, report Independent accountants, report Statement of financial activities Balance sheet Notes to the accounts Registered Charity number 1182923 THE VICTORIA FIELD CHARITY CIO TRUSTEES. REPORT The trustees present their report with the statulory aGcounts of the charity for Ihe year ended 31 March 2Q24. PRINCIPAL ACTIVITIES AND OBJECTIVES The principal activilies 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 Peter Goater Anthony Morgan Jean Howard Adrian Sparkes STRUCTURE, GOVERNANCE AND MANAGEMENT The Victoria Field Charity CIO is a foundation charitable incorporated organisation registered on l O April 2019. Its registered charity number is 1182923 and the address of its principal office is Victoria Field, Leigh Road, Street, Somerset BA16 OHB. The charity trustees manage the affairs of the CIO and may for that purpose exercise all the powers of the CIO. Except for the lirst 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 CounGiI and Clark Foundation. Any trustee Gan call a meeting of the charity trustees and subjeGt to that the trustees decide how their meetings are called and what notice is required. rhe major risks to which the charity is exposed, as identified by the trustees, have been reviewed and syslems or procedures have been established to manage those risks. Page 1 ACHIEVEMENTS AND PERFORMANCE The ¢ore business of the Charlty is lo manage and maintsin buildings and plawng areas. These arg US8d by the SEX)rting and recreational clubs affiliated lo the Charity and are also available for general hire. In addition, accommodation and servioes are provlded for the Victoria Field Social Club, with Social Club membership being a prerequisite to membership of affilial8d clubs. FINANCIAL REVIEW The review of the basis for the determination of rents comrnenced in the previous year was completed during the year and il was agreed that.. Rents would be calculated as a proportlon of the Charify's costs related to the ar&a ocGupled, and common costs allocated on the basis of the number ol members. Revenue costs wholly allributable to each activity would be directly reimbursed by the tenants. Facities Manager costs lo be allributable lo the Victoria So¢l81 Club and lo be responsible for the generation of addiliorlal inGome. The demand for the hlre ol the facilities sirkce Covid has not fully recovered and r&grelfully in some cases declined. and no additional grants have been available.Tho operating costs have risen and the Charity has thereby incurred a loss for the year of £7085. The Trustees are. conllnually reviewing the costs of the Charity's activitses which may mean increasing charges, undertaking aotivitles on a voluntary basis or seeking sponsorship or grant funding. Chairman Dated.. 17 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 MarGh 2024 which are set out on pages 4 to 9. Respective responsibilities of trustees and reporting accountant The charily's trustees are responsible for the preparation of the accounts. They consider that an audit is ni required for thls year {under section 14412) of the Charities Act 20111 and that an independent examinatior is needed. It is my responsibility to examine Ihe accounts (under section 145 of the Charities Act 2011), to follow the procedures lperty oqulpment Tot81 COST At l April 2023 Addlllons Dlsposals 475,(￿0 2,509 477,509 11,0881 {1.0881 Al 31 March 2024 475.oots 1,421 476,421 DEPRECIATION Al 1 April 2023 Charge for the p8rlod Ellminat8d on disp05als 11,6031 11,8031 14181 {4181 1,088 1,088 Al 31 March 2024 19331 19331 NET BOOKVALUE Al 31 March 2024 475,OQO 488 475,488 Al 31 March 2023 475,000 475.906 Page 8 THE VICTORIA FIELD CHARITY CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2024 LIEBTORS 2024 2023 Trade deblars Amwnts d￿e from Vlcloria Field Social Club other debtor8 2.316 18,085 4,603 17,524 2(k,401 22,127 10 CREDITORS . amounts falllng due wilhln on8 year 2024 2023 Bank loan Trad8 credltors Other creditors 1.631 723 11,893 2,115 200 fj6,612 14,247 18.927 CREDITORS - amounts falling due after more than one year Bank loan 4,179 5,133 11 MOVEMENTS IM FUNDS Unrestricted Reqtrirled Funds Funds Total Funds Al 1 April 2023 Nel mov8menl in funds in peri 502,366 17,0851 502,366 17,0851 Balanc8 at 31 Mar¢h 2024 495,281 495.281 12 FINANCIAL RESOURCES OF SPORTS SECTIONS 2024 2023 Victor18 Islreell Indoor Bowling Club 30.294 29,253 Str881 Bowling Club 11.751 10,617 Victoria Lawn Tennls Club 30,408 32,482 Slr891 Crlckel Club 10,(146 9,439 Slreol Squash & Racketball Club 6.437 8,390 Abbéy Croqu61 Club 916 88,936 91,097 Page 9