## **CORAM’S FIELDS SPORTS AND RECREATION**
## **Trustees’ Report and Financial Statements**
## **Period ended 31[st] March 2025**
## **Contents**
||**Page**|
|---|---|
|Report of the Trustees|1-5|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cashflow statement|9|
|Notes to the Accounts|10-12|
**Registered Charity Number 1194312**
Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **Trustees’ Report for the period ended 31[st] March 2025**
## **Introduction**
On 4[th] May 2021 Coram’s Fields Sports and Recreation was registered with the Charity Commission as a Charitable Incorporated Organisation (CIO), Registration Number **1194312** . The charity commenced operating on 1[st] June 2021 and this report and the financial statements reflect the activity in the 12 months to 31[st] March 2025.
## **Objectives and activities**
The objects and purpose of the CIO, as set out in its constitution, are:
- To provide or assist in the provision of facilities in Camden and the surrounding area including at Coram’s Fields that promote the recreation, welfare or education of children and their families who have need of such facilities by reason of their youth, age, ill-health or disability, financial hardship or social circumstances with the objective of improving their conditions of life, in Camden and the surrounding area.
- To promote participation by other members of the community in recreational activity in particular by the provision of facilities for playing sports and use of the land and buildings at the Coram’s Fields site and in Camden and the surrounding area for recreation and leisure time occupation with the objective of improving their conditions of life.
- To advance amateur sport in London for the public benefit in particular but not exclusively by providing facilities for sport.
- To provide grants to other charities in the UK and charitable projects which are consistent with or promote the charity’s objects.
In accordance with our objectives the charity has to date focused its activities to the promotion and provision of sports facilities at the Coram’s Fields site and the award of grants.
In reviewing the charity’s activities and objectives, the trustees confirm that they have had regard to the Charity Commission’s guidance on the furtherance of public benefit.
## **Achievements and Performance**
Our sports facilities maintained strong levels of use throughout the period, enabling and benefitting a wide variety of groups from adult lunchtime and evening sessions to school activities and reduced-rate bookings for young people under 25, charities, and community organisations. We also offered free access and free play sessions for young people under 19. The overall percentage utilisation of the pitches is in the high eighties.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
By offering free access to our sports facilities for local state secondary schools, and subsidised rates for several nearby private schools, we helped schools deliver regular PE lessons and host annual sports day celebrations. This summer, we welcomed seven state-school sports days: St George the Martyr Primary, St Peter and St Paul Primary, St Clement Danes Primary, St Alban’s Primary, Argyle Primary, St Joseph’s Primary, and Christopher Hatton Primary. Many local schools have limited outdoor space, and our facilities helped ensure that children from all socio-economic backgrounds benefited from valuable sporting experiences.
Our sports facilities welcomed a variety of local partners who were able to use the spaces either free of charge or at significantly reduced rates. We continued working closely with organisations such as New Horizon Youth Homeless Charity, Kings Cross and Brunswick Neighbourhood Association, Pro Touch Soccer Academy (Camden Youth League), Arsenal in the Community (Amputee Programme), Westminster Kingsway College, and the Coram’s Fields Community Sports Programme. Through these partnerships, we provided opportunities for children and families from diverse backgrounds and with different needs to engage in sport and physical activity.
We continued to work with partners throughout the year to encourage the local community to engage in sport - children, families, businesses and other organisations and institutions. Many of these partnerships focus on encouraging participation among marginalised groups and those who might not typically participate, while our commercial partners play an important role in involving the local business community in sporting activities. We welcomed over five different groups and leagues from University College London (UCL), such as the UCL Women’s Football Club and the UCL Intramural League, and also hosted Young Women’s Sports Days, the Camden Youth League, and London Youth Football tournaments. In addition, our facilities offered a valuable space for local professionals to stay active during lunchtime hours, when the pitches were not otherwise in use by children and young people. We also didn't just offer our pitches for football. We were also proud to be able to provide Belsize Park RFC (Regional 2 Thames) and London French Rugby (Counties 4 Surrey) with central London midweek training facilities, enabling people to train and exercise after work.
We continued our close collaboration with the Coram’s Fields Sports and Youth Programmes, offering free afternoon and evening pitch access for projects that support and engage young people at times of day when access to other free sports facilities is limited. These sessions provided young people with a safe environment to socialise and develop healthy habits and interests.
In line with one of the charity’s objectives, grants of £200,000 and £75,000 were made to Coram’s Fields and the Harmsworth Memorial Playground (“Coram’s Fields”) in November 2024 and March 2025 respectively (2024: grants of £70,000 in November and £130,000 in March).
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
The charity does not engage in any fundraising, nor does it use any external fundraisers.
## **Financial Review**
This year represents the third full twelve months of trading. In 2024-25 income from pitch fees increased by 4.1% from £640,802 last year to £666,815. This was due to minor improvements in commercial utilisation (86% to 87.5%), significant improvements in school utilisation (72% to 85%) and significant operational improvements resulting in a reduction of payment defaulters (bad debt).
Before grant payments, expenditure increased by 12.7% from £377,000 in 2023-24 to £424,950 this year. Much of the increase of £47,950 was due to the impact of accounting for a full year of charges under the new 3 year rental contract, being an increase of £35,294. With additional income raised and speedier collection and improved cashflow the charity was able to increase grants awarded (as above) and overall total expenditure, including grants, increased by 21.3% to £699,950 (2023/4: £577,000). Net expenditure for the year was £21,982, compared with net income of £63,802 last year.
The trustees’ policy is to hold reserves at the end of the financial period which cover only immediate needs and any unforeseen delay in cash being received. The charity’s funds at the year end, which are all unrestricted in nature, were £112,719 (2024: £134,701).
With regular monthly income, which can be reasonably estimated, and the major item of expenditure being the monthly rental payments to _Coram’s Fields_ under a renewed 3 year lease to March 2027, there is no uncertainty about the charity’s ability to continue as a going concern, nor are there any specific material risks to the charity.
## **Plans for future periods**
In accordance with our objectives the charity will continue to focus its activities on the promotion and provision of sports facilities at the Coram’s Fields site and the award of grants. The trustees confirm that there are no immediate plans to extend the current activities.
## **Structure, governance and management**
As a Charitable Incorporated Organisation, the CIO is governed by its constitution which follows the foundation model for CIOs, with the only voting members being the charity’s trustees.
The charity currently has three trustees, two of whom are also directors of Coram’s Fields Company Trustee Limited, the Corporate Trustee of _Coram’s Fields_ which is a registered charity.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
The constitution requires a minimum of three trustees but there is no maximum. Apart from the first charity trustees, future trustees will be appointed by a resolution passed at a meeting of the charity trustees. In selecting further individuals for appointment, the trustees will have regard to the skills, knowledge and experience needed for the effective administration of the CIO. The induction of new trustees would include a tour of the facilities and a briefing on the current aims and objectives of the charity.
The trustees approve the charity’s payments and grants and the charity’s light touch management is provided by the Chief Executive of _Coram’s Fields_ , supported by his administrative and finance staff.
## **Reference and Administrative Details**
**Registered office and place of business** 93 Guilford Street, London, WC1N 1DN **Registered charity number** 1194312 **Governing document** Constitution dated 4[th] May 2021 **Trustees** Michael Horowitz Martin McNeill Toni McDermott **Bankers** Lloyds Bank, 88 Tottenham Court Road, London, W1T 4TH **Solicitors** Edwin Coe LLP, 2 Stone Buildings, Lincoln's Inn, London, WC2A 3TH **Independent examiner** MHA, Chartered Accountants, Building 4, Foundation Park, Roxborough Way, Maidenhead, SL6 3UD
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and the incoming resources and application of resources of the Charity for that period. In preparing those 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 United Kingdom accounting standards and Statements of Recommended Practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on a 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of its constitution. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.
This report was approved by the trustees on 16[th] December 2025 and signed on their behalf by:
Michael Horowitz, Trustee
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **Independent Examiner’s Report to the Trustees of Coram’s Fields Sports and Recreation**
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31[st] March 2025 which are set out on pages 7 to 12.
## Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Carina Ralfs MSci (Hons) PhD FCA MHA, Chartered Accountants,
Building 4, Foundation Park, Roxborough Way, Maidenhead, SL6 3UD 16[th] December 2025
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income from charitable activities**
Sports pitch fees
Donations
**3**
**Expenditure on charitable activities**
Rent
**10**
Grants awarded
**4**
Utility costs
**7**
Administration and finance support costs
**7**
Booking agency fees and commission
Independent Examination
Bank charges
Total expenditure
Net (Expenditure) / Income and
movement in funds
**Reconciliation of funds**
Total unrestricted funds brought forward
**Total unrestricted funds carried forward**|**UNRESTRICTED**
**FUNDS**
**2024-25**
£666,815
£11,152
£360,000
£275,000
£24,373
£12,552
£24,152
£3,720
£152
£699,950
£(21,982)
£134,701
**£112,719**|**UNRESTRICTED**
**FUNDS**
**2023-24**
£640,802
-
£324,706
£200,000
£24,285
£12,878
£11,330
£3,600
£201|
|---|---|---|
|||£577,000|
||||
|||£63,802|
|||£70,899|
|||**£134,701**|
All income and expenditure derive from continuing activities.
The notes on pages 10 to 12 form part of these accounts.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **BALANCE SHEET AS AT 31 MARCH 2025**
|Note
**Current Assets**
Debtors
8
Cash at bank
Total current assets
**Liabilities**
Creditors: amounts falling due within 1 year
9
**Total net assets**
**The funds of the charity**
**Unrestricted funds**|**UNRESTRICTED**
**FUNDS**
**2025**
£54,213
£72,133
£126,346
£13,627
**£112,719**
**£112,719**|**UNRESTRICTED**
**FUNDS**
2024
£93,398
£84,601|
|---|---|---|
|||£177,999
£43,298|
|||**£134,701**|
||||
|||**£134,701**|
Approved by the Trustees, and signed on their behalf on 16[th] December 2025 by:
Michael Horowitz, Trustee
The notes on pages 10 to 12 form part of these accounts.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025**
|**Net cash flow from operating activities**
**Adjusted for:**
Decrease in debtors
(Decrease) in creditors
**Net cash flows from operating activities / increase in cash**
Cash at bank and in hand at the beginning of the year
**Cash at bank and in hand at the end of the year**|**2025**
£ (21,982)
£ 39,185
£ (29,671)
£ (12,468)
£84,601
**£72,133**|2024
£63,802
£ 9,582
£ (27,809)|
|---|---|---|
|||£ 45,575
£39,026|
|||£84,601|
## **Analysis of net debt**
The charity has no borrowings, no overdraft nor any other forms of debt (2024: nil).
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Basis of Preparation of Accounts**
a) Coram’s Fields Sports and Recreation is a Charitable Incorporated Organisation which registered with the Charity Commission in England and Wales (Registration Number **1194312** ) on 4[th] May 2021.
b) These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019, with the Charities Act 2011 and UK Generally Accepted Practice.
c) The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the FRS 102 Charities SORP published in October 2019 rather than the Charities SORP 2005 which has since been withdrawn.
d) The Trustees have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there are no material uncertainties about the charity's ability to continue for the foreseeable future and therefore these financial statements are prepared on a going concern basis.
e) The charity constitutes a public benefit entity as defined by FRS 102.
- f) The financial statements are prepared in sterling which is the functional currency of the charity.
g) The significant accounting policies used in preparing these financial statements are set out below.
## **2. Accounting policies**
a) Income from the hiring of sports pitches is recognised when the charity is legally entitled to the income, the amount can be measured reliably, and it is probable that the income will be received.
b) Expenditure, which is recorded on an accruals basis, is recognised once there is an obligation to make a payment to a third party and that amount can be measured reliably. All expenditure is on charitable activities so there is no apportionment of support costs between activities.
c) Grants payable to third parties, which are within the charitable objectives, are awarded without conditions attaching, so are recognised in full as soon as the recipient is notified of the grant.
d) Payments under the operating lease are recognised as an expense over the lease term on a straight-line basis.
e) Apart from utilities and finance and administrative services, which are provided and recharged by _Coram’s Fields_ other services and supplies provided by _Coram’s Fields_ are considered to be insignificant so not considered necessary to be accounted for as donated services.
f) Debtors and creditors receivable or payable within one year are recorded at settlement amount. Any losses arising from impairment of debtors are recognised in expenditure.
g) The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **3. Donations**
The charity received a gift in kind from C _oram’s Fields_ of £11,152 for administrative support. (In 2023-24, an amount of £12,878 was recharged by C _oram’s Fields.)_ See note 7 for more details.
## **4. Grants**
Grants of £200,000 and £75,000 were made to _Coram’s Fields_ in November 2024 and March 2025 respectively, in accordance with the charity’s objective to provide or assist in the provision of facilities in Camden and the surrounding area including at Coram’s Fields that promote the recreation, welfare or education of children and their families (2024: grants of £70,000 in November 2024 and £130,000 in March 2024).
## **5. Staff costs**
No staff are employed by the charity (2024: none).
## **6. Trustees’ remuneration**
The Trustees are considered to be the Key Management Personnel of the charity. No trustee received any remuneration or reimbursement for personal expenses in the year (2024: none).
## **7. Related parties and related party transactions**
Prior to June 2021, _Coram’s Fields_ received income from the hire of sports pitches. Since June 2021, the charity has rented the sports pitches from _Coram’s Fields_ through an operating lease. The total rental costs incurred through the lease of the sports pitches from _Coram’s Fields_ amounted to £360,000 in the year (2024: £324,706).
On behalf of the charity, in the year to 31[st] March 2025, _Coram’s Fields_ incurred costs for utilities of £5,595 (2024: £24,285), which are accounted for as part of the charity’s expenditure and which were repaid during the year (2024: £24,285 payable as at 31[st] March 2024).
During the year a donation of £11,152 was provided by _Coram’s Fields_ for office and administrative support costs as a gift in kind _._ In 2023-24 office and administrative support costs of £12,878 incurred by _Coram's Fields_ were recharged to the charity and were payable as at 31[st] March 2024. Costs are accounted for as part of the charity's expenditure.
The charity made grants for charitable purposes of £200,000 and £75,000 to _Coram’s Fields_ in November 2024 and March 2025 respectively (2024: £70,000 in November 2024 and £130,000 in March 2024).
As at the year-end, the total amount owing to _Coram’s Fields_ was £nil (2024: £37,163). The total amount owed by _Coram’s Fields_ to the charity at the year-end was £nil (2024: £780).
During the year, two of the charity’s trustees, Michael Horowitz and Toni McDermott, were also directors of Coram’s Fields Company Trustee Limited, the Corporate Trustee of _Coram’s Fields._
## **8. Debtors**
|Trade debtors
Other debtors
**Total debtors**|**2025**
£54,213
£0
**£54,213**|**2024**
£92,618
£780|
|---|---|---|
|||**£93,398**|
Other debtors represented pitch fees received in error by _Coram’s Fields_ relating to pitch bookings during the year, which had not yet been transferred to the charity as at the year end.
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Coram’s Fields Sports and Recreation Trustees’ Report and Financial Statements – year ended 31[st] March 2025
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
|**9.Creditors**
Trade creditors
Accruals
Deferred income
**Total creditors**|**2025**
£4,307
£3,720
£5,600
**£13,627**|2024
£0
£40,763
£2,535|
|---|---|---|
|||**£43,298**|
Deferred income represents advance payments for summer sports days pitch bookings from local schools.
## **10. Commitments under Operating leases**
|**10.Commitments under Operating leases**|||
|---|---|---|
|At 31 March 2025 the total of the charity's future minimum lease
payments under the non-cancellable operating lease with_Coram’s_
_Fields_was:
Amounts due within one year
Amounts due between one and five years|**2025**
£360,000
£360,000
**£720,000**|2024
£360,000
£720,000|
|||**£1,080,000**|
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