THE VICTORIA FIELD CHARITY CIO ACCOUNTS YEAR ENDED 31 MARCH 2025 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 wilh the statutory accounts of the charity for the year ended 31 March 2025. 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 inhabilants of the district of Mendip, and in partiCLFlar the parish of Streel 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 - resigned September 2024 Anthony Morgan - resigned December 2024 Jean Howard Adrian Sparkes - resigned May 2024 Christopher Geary- appointed December 2024 Simon Evans - appointed January 2025 Kenneth Southers - appointed February 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The Victoria Field Charity CIO is a foundation charitable incorporated organisation registered on 10 April 2019. Its registered Gharily number is 1182923 and the address of its principal office is Victoria Field, Leigh Road, Street, Somerset BA16 OHB. The charity Irustees manage the affairs of the CIO and may for that purpose exercise all the powers of Ihe CIO. Except lor the first trusteees, all trustees are appointed for 3 years. The exlstSng 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 truslees decide how Iheir meelings 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 Ihe charity is to manage and maintain buildings and playing areas. These are used by the sporting and recreational clubs aflilialed lo the Charily and are al80 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 financial year presented many challenges lo the CIO with the loss of 3 experienced Iruslees being noted and we thank them for their efforts. However, a new chapter has begurk Ihal will, in lime, slrenglhen the viability of the charity. We have reoruiled 4 new Iruslees all of whom are volunteering their lime lo help secure the future of Ihe charity and our facilities. l am pleased lo acknowledge that our finances are improving, bul as reporked there is still a need lo review our ongoing costs against our income, we cannol continue to trade al a loss. £2k needs lo be found to balance our books and therefore a close scrutiny is Mow paramount. We have a number of new challenges that need urgent allenlion and funding lo ensure the safety and secLtrily of our buildings. We are r)ow focussed on funding through grant applications to &nable these essential works lo be completed. We are commilled lo stability and Ihe8e accounts demonstrate Ihal we aro going in the right direction. We. as Iruslees, wish lo work with all the sections, users and members in a spirtl of co- operation, understanding and respe¢t for the years ahead. Jean Howard VFCIO Chair 27 Jun& 2025 Page 2
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF THE VICTORIA FIELD CHARITY CIO I report on the accounts of The Victoria Field Chariiy CIO for the year ended 31 March 2025 which are set out on pages 4 to 9. Respective responsibilities of trustees and reporting accountant The charity's Iruslees are responslble for the preparation of the aGcounts. They consider that an audit is ni required for this year (under seetion 144(2) of the Charities AGt 2011) and that an independent examinatior 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 seclion 145(5llb) of the ChaNties Act 20111 and to slate whether particular matters have come to my attention. Basis of independent examiners, report Our exatnination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of Ihe accounting records kept by the charity and a comparison of the accounls 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 auc and, consequently, we do nol express an audit opinion on the view given by the accounts. Independent examlners, 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 Ihe acGounting 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 reachei Maxwell Foote Max Foote Associates Limited Chartered Certified Accountants 2 Bailey Hill Castle Cary Somerset BA7 7AD Dated.. 27 June 2026 Page 3
THE VICTORIA FIELD CHARITY CIO STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Nole 2025 2025 Unrestricted Reslricled Fund Funds 2025 Total 2024 Tolal Income and endowments Donalions Charitablé activities Investmer)l income- interest received Other 2,722 122,846 122 2,722 122,846 122 114,748 75 12.769 Total income 125,690 125.690 127.592 Expendlture Ch8rilable activities Other 98,664 21.277 98,664 21,277 112,617 21,379 Total expenditure 119,941 119,941 133,996 Net Income represanting a net movemenl in funds 5,749 5,749 16,404> Reconciliation of funds Tolal funds brought forward 495,962 495,962 502,366 Total funds Carrled forward 501.711 501,711 495,962 Page 4
THE VICTORIA FIELD CHARITY CIO BALANCE SHEET AT 31 MARCH 2025 Note 2025 2024 Fixed assets Tangible assets 475,126 475,48 Current assets Debtors Cash at bank and in hand 22,518 27,739 20,401 17,818 Total current assets 50,257 38.219 Creditors Amounts falling due within one year 10 (23,672) (14,247) Net current assets 26.585 23,97: Total assets less current liabilitles 501,711 499,461 1 Creditors Amounts falling due after more thar) one year 10 {3,491 1 Total net assets 501.711 495,96,, The funds of the charity: Restricted income funds Unrestricted inoome funds 501,711 495,96., 501.711 495,96: The accounts W6ra approved by the trustees on ON BEHALF OF THE TRUSTEES CHAIR- (4Yffv< TREASURER- Page 5
THE VICTORIA FIELD CHARITY NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES The principal accounting policie8 adopted in the preparation ol thg financial slat6rnents are Set out below and have been consSstenlly applied urilhin the 88me accDunts. 1.11 Basls ol accountlng The acGounls have been prepared under the historical cost wnvention with Ilems recognlsgd 81 cost or transa¢tion value unless otheMs& slated In the notes to thesé accounts. The accounts have also been prepared in ac¢ordance wlth th8 Statem2nl of Recommended Praclice.. Accounting and R8POrtlng by Charilles preparing Ihelr accounts in accordance wilh the Financial R8POrting Standard applicable in the VK and Republic of Ireland IFRS 1021 leffecllve l J8nuary 20151- {CharS1i438 SORP FRS 1021 and the FinanGlal R£portlng Slandard applkab16 in the United Klngdom and Republ of Ireland IFRS 1021186ptember 20151 and the Chaiilies Acl 2011. 1.21 Recognitlor] of in¢ome ITTrcome is includpd in the Stat8m8nl of Flnen¢ial Actlvillès ISOFAI when the ch8rily b8comes enlltkd to the regources, il is more Ilkely than nul Iliat the Iruslees wim re1ve the resources, and the monetary valu8 can be rne8suTe wilh sufficiently reliability. 1.31 Liablllty recognition LiabilEthes (Ire recognlsed when it is more likety than not th81 there is a legal or con8lrLiclive obligation cnmmilling the Gharily to pay out resourGeS, and the amount of the oblig81ion can be measured with reasonable certainty. fj.41 Governance and support ¢osts Support e081s have been allocaled between uovernan¢e Costs and th8 provi5YJn of l&isiJre faclllties. Govemanc? costs comprise all cos1% involving publlc accountability of the charity and Ils oompliancp with regulallon and good practice. Support C051s indude central functions and have been alloc8led lo activity C{kl cat6gories on a basis ¢onsisler*l with the t]se of the resources. 1.51 Tangible fixed assets for us8 bythe ¢h2rity Tangible fixed assets held for the tharitls own use are staled al cost less accumulated depr8clalion and 8c¢umulated impairm8nl10s$8S. DeprallOn has been compuled lo write off the cosl of tanglbla fix8d 85sets less residual value over their expecl8d useful Ilves using Ihe lollowing rates:_ Fiylures. fitting5 atKJ eouipment 200h s(r31ghl line Computer equipment 33°k 8traight Iln& The Charity's perman8nt freeh(Ad buildlngs hav8 not been d8preoated. Th8 fabric ol these buildings will be malnlained lo a hlgh standard and as a result théir useful life will not be impaired. At eAr.h balance shect dale, the ¢harity Igvlews the carryng arn1 of its tangible fixed assets lo determine whether Ih8re is any indication that any items hav6 suffered an impalrment105s. 11 any such Indi¢81ion exists, the re¢overable amount of an asset IS 8Stimaled in order lo determine the exlent of the Impalrmenl loss. If any. Where il Is not P05slble to e51im31e th8 r8COverab amount ol the assel, Ihe charlly eslimates the 18cover8bla amount of the cash-generaling unit to which Iha ass8t bebngs. 1.61 Funds structure Unr8slrl¢ted fund Income within this fund h8s been generatad by the charSly and the use ol 8ch income has not been reslri¢led lo a particular purpose. In addillon lo meetlng th8 CQSts of activitie5 In fvrlh8ran¢e of the harilys obj8¢t5, the unreslrided fund has to pay lor Ihe general adminlstralion of the Gompany. Restricled fvnds Th8se are funds r8slric18d lo a partlcular purpose. Page 6
THE VICTORIA FIELD CHARITY CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 INCOME AND ENDOWMENTS Total funds 2025 Total funds 2024 Unreslri¢led Reslrided runds funds Donallons 2,722 2.722 INCOME FROM CHARITA8LE ACTIVITIES Hio trl facilllies Renl receivable frotn sports se¢lions Renl receivable from 50¢ial club Re¢h8roe of cosls to social Club and sports 88Ctlons Fundiaising 8vefits 17,880 56,167 43,627 1,676 3,496 17,880 S6.167 43,627 1,676 3,496 17.592 41,929 47,540 7,687 Total Inoome from ¢harltab18 actlvlties 122,846 122,846 114,748 OTHÈR INCOMSNG RESOURCES Total funds 2025 Total funds 2024 Unreslricled ReslriclBd funds fndS MisGellan8ous refunds Government aftd local authority granls 12,76g 12.769 EXPENDITURE Acti168 undertak6n Supp(*t Costs Total 2025 Total 2024 Expendituré on charitatsle a¢tlvltles restrlcted ImproverneDt of r8cre8tion and le1lJr facilities Repairs and renow8ls EKp8nditure on charltab18 aGtlvltl8s - unrpstricted R8t8S Water rale5 Improvement of recreation and18isure facilities Repairs 3nd rgn8w31s Grounds tnalnl8nance Heat and Iwhl Leasing ¢harges Cl88r¥ing Donalions Irrecoverable VAT &Jpport C081s- note 6 2,562 2,562 3,809 6,037 2,664 46.422 471 2,246 6,037 2,664 46.422 471 2,246 2,933 43,243 471 3.620 2,121 2,121 36,141 3,256 49.616 36,141 62,523 36,141 98,664 112,617 other Expendlture Leg81, prof8S8ional 2nd licences Audil and accounlan¢y Heallh safely Support costs- note 8 1,470 2,799 1,470 2,799 1,947 2.101 rf50 17,181 17,008 17,008 4.269 17,008 21,277 21,379 Page 7
THE VICTORIA FIELD CHARITY CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 ALLOCATION OF SUPPORT COSTS BY ACTIVITY Provlslon Apportlonmenl of18isure method f8cilllles Total 2025 Total 2024 Gav£manc& Salgrles PenSn contributions Insurance Telephone Postage, sl81ionery and ¢ompEJter consumablfjs Advertising Bank charges Sundry expenses Depreciation of fixtures and equipment Headcount Headcounl Aclual Us8ge Usage Actual Usag& Ugage Usa96 26,983 15.600 42,583 54,832 387 8.909 972 1.043 68 168 7,662 486 691 112 11 15 181 7,662 972 1.383 112 45 30 362 692 34 15 181 418 36,141 17,008 53,149 66.797 STAFF COSTS 2025 2024 Gross wages and satarles Pension contributions 42,212 54.832 387 42,312 55,219 Average number ofemployees The trust8ès received no remuneration in their c8paeAty as IrLtsle8s the perio(l. TANG18LE FIXED ASSETS Freehold Fixtures & praperty equipment Total COST At l April 2024 Addiliuns Disposals 475.000 1,421 476,421 At 31 March 2025 475,000 1,421 476.421 DEPRECIATION At 1 April 2024 Charge lor th2 perlod Eliminated on disposals 19331 13621 19331 13621 At 31 March 2025 11.295) {1.2951 NET BOOK VALUE At 31 March 2025 475,(K)O 126 475.126 At 31 March 2024 475,000 488 475,488 Page 8
THE VICTORIA FIELD CHARITY CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025 DEBTORS 2025 2024 Trade debtors Amounts due from Victoria Field Social Club Other debtors 4,433 18,085 2,316 18,085 22,518 20,401 10 CREDITORS - amounts falling due within one year 2025 2024 Bank loan Trade creditors Other creditors 1,631 723 11,893 2,269 21,403 23,672 14,247 CREDITORS - amounts falling due after more than one year Bank loan 3,498 1 11 MOVEMENTS IN FUNDS Unrestricted Restricted Funds Funds Total Funds At 1 April 2024 Net movement in funds in period 495,962 5,749 495,962 5,749 Balance at 31 March 2025 501,711 501,711 Page g