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2024-12-31-accounts

CHARITY REGISTRATION NUMBER: 268208

King George's Field, Caister-On-Sea Unaudited financial statements

31 December 2024

King George's Field, Caister-On-Sea

Financial statements

Year ended 31 December 2024

Page
Trustees' annual report 1
Independent examiner's report to the trustees 6
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

King George's Field, Caister-On-Sea

Trustees' annual report

Year ended 31 December 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.

Reference and administrative details

Registered charity name King George's Field, Caister-On-Sea Charity registration number 268208 Principal office 18 Coleburn Road Norwich Norfolk NR1 2PA

The trustees

The trustees who served during the year and at the date of approval were as follows:

Miss Claire Thomson Mr Neil Bowman Mr Peter Sleet Mr Russell Ray Mr Kevin Wood Mr Patrick Hacon Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers HSBC 181 King Street Great Yarmouth Norfolk NR30 1LS

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King George's Field, Caister-On-Sea

Trustees' annual report (continued)

Year ended 31 December 2024

Objectives and activities

The objects of the charity are to hold upon trust land designated as a recreation ground for the benefit of the inhabitants of the Parish of Caister-on-Sea in the County of Norfolk in such manner as the Committee of Management from time to time shall think fit.

Public benefit

The Committee of Management have taken due regard of the guidance published by the Charity Commission. The Committee of Management consider the charity provides a public benefit through the provision of recreation space for the public.

Achievements and performance

The year of 2024 has seen some major improvements at King George V field to increase footfall and people's wellbeing. The biggest investment being a brand-new playpark costing £110,000 with some of the most stimulating and imaginative equipment available, it certainly has put Caister on the destination map as many are coming from nearby villages. This was funded by Section 106 money and money raised at the festival and the hard work / support of our parish council in making it happen. We were able to to secure 75% funding for a much-needed carpark makeover as the potholes had become craters, this was achieved with a community grant from GYBC £14,600, and we fundraised locally plus used £7,000 from our sinking fund. To prevent further damage and improve safety we invested in a height restriction barrier costing £2,033 and proper carpark line marking costing £993 and we all agree how much better it is for everyone. The biggest surprise for the carpark was the addition of two designated disabled bays which have been used and very much appreciated by local blue badge holders.

We also had a very successful two-day festival run by volunteers the last weekend in June we estimated there were over 5,000 visitors and are planning the same again for June 2025. We also hosted a winter wonderland on the 7 December the planning and thought that went into that one-day event was fantastic and a big thanks goes to Sinead and Karina who organised the whole event with over 2,000 visitors.

The Rabbit Hutch coffee shop is still very much the heart of the community and been a life saver for many residents of Caister young and old we continue to support and encourage well being groups including Norfolk Vision and the NHS. We have built good working relationships with the Great Yarmouth Borough Council (GYBC), local police officer and the parish council, must be something we put in the coffee!

The community spoon building continues to grow its place in the community with support from the food larder, a cinema, advisory groups, Men's shed, carers groups, Men's craft, functions, events, model railway club, meetings all of which is run by volunteers.

The Bowls club have undergone a major revamp during the winter as the building was only used for summer events. Through the VIY project they were able to secure insulation for the roof, and had students learn a trade in insulating the walls. They then knocked down the old kitchen and bar creating a new space for short mat bowls and a bigger seating area the transformation is a credit to the club, a special mention to Glen, Tony and Ann who have practically been living there over the last few months to to make it all happen.

Other news is we now have Lovewell Blake as our accountants.

Walking football that started with 6 now has over 80 members that play. The Scout hut has been painted inside and out by the Men's shed who have also undertaken a lot of work around the village making it a better place to live, special mention to Eddie, Alan and the army of members.

Finally 2024 saw the passing of Mike Cotton a former Chairman of the committee. We attended his funeral in August and will make a plaque for one of the benches in the sensory garden to remember him and the time he gave to the field.

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King George's Field, Caister-On-Sea

Trustees' annual report (continued)

Year ended 31 December 2024

Financial review

The financial results of the charity for the year are set out in detail on pages 7 to 8.

Reserves policy

At 31 December 2024 the reserves within the general fund were £28,450 (2023: £25,877).

Plans for future periods

We are in talks with the Football Foundation and GYBC to upgrade the Multi Use Games Area which is now 25yrs old. This will be a huge investment, it will provide sports such as football, cricket, netball and tennis and we look to extend the car park to cope with the increased traffic.

Another big project to the North of the field in a unused corner is the very first sensory garden in the borough, again a lot of planning and thought has gone into this project involving schools, colleges and members of local organisations. It will have many features including a bandstand, low level lighting and disabled pathways not to mention plants. This hopefully will be completed in 2025.

The youth club plans to open in the spring of 2025, the area where the old playpark was located will be developed into a seating/picnic area for the new playpark.

Caister Cricket club have plans to build an all-weather strip in the spring of 2025 after securing a grant.

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King George's Field, Caister-On-Sea

Trustees' annual report (continued)

Year ended 31 December 2024

Structure, governance and management

Governing Document

The King George's Field Caister-On-Sea was established on 31 December 1973 under a conveyance and registered as a charity with the Charity Commission on 20 September 1974.

Recruitment and Appointment of Committee of Management and Organisational Structure

The general management and control of the charity shall be vested in a Committee of Management, who are considered to be Trustees for charity law purposes, consisting of not more than 24 members consisting of not more than 24 members. All bona fide Caister organisations are entitled to have a representative on the committee, providing application is made in writing one month before the AGM each year. In addition the Committee shall have the power to co-opt not more than twelve members to represent the interests of the parish, not elected by any organisation. Of these twelve members, eight will be elected at the AGM and four will be elected by the Parish Council.

Committee of Management Induction and Training

On appointment to the Committee members are provided with:

" The charity's governing document

" The latest accounts of the charity

" Details of Charity Commission guidance notes CC3 - "The Essential Trustee, what you need to know, what you need to do"

In addition, Committee members are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.

Risk Management

The Committee are aware of the Charities Commission's recommendations to review the risks applicable to the charity and consider the risks to be minimal.

True and fair override

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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Independent Examiner

A resolution to reappoint Mark Proctor FCA DChA of Lovewell Blake LLP as independent examiner was approved by the Committee of Management.

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King George's Field, Caister-On-Sea

Trustees' annual report (continued)

Year ended 31 December 2024

The trustees' annual report was approved on 26 March 2025 and signed on behalf of the board of trustees by:

Mr Russell Ray Committee Member

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King George's Field, Caister-On-Sea

Independent examiner's report to the trustees of King George's Field, CaisterOn-Sea

Year ended 31 December 2024

I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 December 2024 which comprise the statement of financial activities, balance sheet and the related notes.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements 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 - matter of concern identified

During the period it was identified that the cash records and amount held in hand at the period end, were not in accordance with the physical cash count at the year end. As a consequence of this situation the cash account was not reconciled during the period, with a difference of £5,050.36 at the end of the period. As part of our examination and at the request of the Trustees I have made the necessary adjustments to the accounts to correct the discrepancy. These adjustments have been approved by the Trustees.

I confirm that no other matters have come to my attention in connection with my 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 financial statements do not accord with those records; or

  3. the financial statements 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.

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King George's Field, Caister-On-Sea

Independent examiner's report to the trustees of King George's Field, Caister-

On-Sea (continued)

Year ended 31 December 2024

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Mark Proctor FCA DChA Independent Examiner

Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

30 April 2025

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King George's Field, Caister-On-Sea

Statement of financial activities

Year ended 31 December 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 5,919 15,120 21,039 8,726
Charitable activities 5 6,843 – 6,843 5,277
Other trading activities 6 72,790 – 72,790 74,335
Investment income 7 308 – 308 351
   
Total income 85,860 15,120 100,980 88,689
   
Expenditure
Raising funds
Costs of other trading activities 8 2,847 – 2,847 2,043
Charitable activities 9 87,440 15,120 102,560 95,390
   
Total expenditure 90,287 15,120 105,407 97,433
   
Net expenditure and net movements in
funds before gains and losses on
investments (4,427) – (4,427) (8,744)
Net gains on investments 10 (297) – (297) (1,076)
   
Net expenditure and net movement in funds (4,130) – (4,130) (7,668)
   
Reconciliation of funds
Total funds brought forward 38,671 – 38,671 46,339
   
Total funds carried forward 34,541 – 34,541 38,671
   

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 10 to 16 form part of these financial statements.

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King George's Field, Caister-On-Sea

Balance sheet

31 December 2024

2024 2023
Note £ £ £ £
Fixed assets
Investments 13 6,091 12,794
Current assets
Stocks 14 2,302 –
Cash at bank and in hand 29,892 27,677
 
32,194 27,677
Creditors: Amounts falling due within
one year 15 (3,744) (1,800)
 
Net current assets 28,450 25,877
 
Total assets less current liabilities 34,541 38,671
 
Net assets 34,541 38,671
 
Funds of the charity
Unrestricted funds 34,541 38,671
 
Total charity funds 16 34,541 38,671
 

These financial statements were approved by the board of trustees and authorised for issue on 26 March 2025, and are signed on behalf of the board by:

Mr Russell Ray Committee Member

The notes on pages 10 to 16 form part of these financial statements.

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King George's Field, Caister-On-Sea

Notes to the financial statements

Year ended 31 December 2024

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 18 Coleburn Road, Norwich, Norfolk, NR1 2PA.

2. Statement of compliance

The charity constitutes a public benefit entity as defined by FRS 102. The 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through income or expenditure.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

3. Accounting policies (continued)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Investments

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

4. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Donations
Donations 5,519 – 5,519

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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

4. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Grants
Grants receivable 400 15,120 15,520
  
5,919 15,120 21,039
  
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Donations
Donations 4,826 – 4,826
Grants
Grants receivable 3,900 – 3,900
  
8,726 – 8,726
  

The charity received £15,120 of government funding (2023: £nil) from Great Yarmouth Borough Council.

5. Charitable activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Playing field income 6,843 6,843 5,277 5,277
   
6. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Fundraising events 1,797 1,797 1,400 1,400
Cafe income 70,993 70,993 72,935 72,935
   
72,790 72,790 74,335 74,335
   
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Investment income 308 308 351 351
   
8. Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Costs of other trading activities - Staging
events 2,847
		 2,847
		 2,043
		 2,043


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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

9. Expenditure on charitable activities

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Honorarium – – –
Catering 49,548 – 49,548
Repair work 11,965 14,620 26,585
Fundraising events (500) 500 –
Planning application 578 – 578
Film rights 329 – 329
Electricity and gas 13,379 – 13,379
Rates and water 3,032 – 3,032
Bins 762 – 762
Broadband and TV licence 621 – 621
Insurance 1,663 – 1,663
Cleaner 2,625 – 2,625
Misc 14 – 14
Bank charges and card machine 1,480 – 1,480
Governance costs 1,944 – 1,944
  
87,440 15,120 102,560
  
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Honorarium 1,080 – 1,080
Catering 44,232 – 44,232
Repair work 27,756 – 27,756
Fundraising events – – –
Planning application – – –
Film rights – – –
Electricity and gas 11,327 – 11,327
Rates and water 3,024 – 3,024
Bins 753 – 753
Broadband and TV licence 664 – 664
Insurance 1,699 – 1,699
Cleaner 2,625 – 2,625
Misc 50 – 50
Bank charges and card machine 380 – 380
Governance costs 1,800 – 1,800
  
95,390 – 95,390
  
Analysis of Governance costs:
2024 2023
£ £
Independent examination - current year 1,944 1,800
 

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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

Cash losses

An amount of £5,050 has been charged through catering costs relating to a cash difference noted between the accounting records and the physical cash count at 31 December 2024.

10. Net gains on investments

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Gains/(losses) on listed investments 297 297 1,076 1,076
   

11. Staff costs

The charity has no employees and so no individual earned over £60,000.

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

13. Investments

Other
investments
£
Cost or valuation
At 1 January 2024 12,794
Additions –
Disposals (6,838)
Fair value movements 135

At 31 December 2024 6,091

Impairment
At 1 January 2024 and 31 December 2024 –

Carrying amount
At 31 December 2024 6,091

At 31 December 2023 12,794


All investments shown above are held at valuation.

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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

14. Stocks
2024 2023
£ £
Café stock 2,302 –
 
15. Creditors: Amounts falling due within one year
2024 2023
£ £
Accruals 3,744 1,800
 

16. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At Gains and 31 December
1 January 2024 Income Expenditure losses 2024
£ £ £ £ £
General funds 38,671 85,860 (90,287) 297 34,541
    
At
At Gains and 31 December
1 January 2023 Income Expenditure losses 2023
£ £ £ £ £
General funds 46,339 88,689 (97,433) 1,076 38,671
    
Restricted funds
At
At Gains and 31 December
1 January 2024 Income Expenditure losses 2024
£ £ £ £ £
Car park repair fund – 14,620 (14,620) – –
Winter wonderland
fund – 500 (500) – –
    
– 15,120 (15,120) – –
    
At
At Gains and 31 December
1 January 2023 Income Expenditure losses 2023
£ £ £ £ £
Car park repair fund – – – – –
Winter wonderland
fund – – – – –
    
– – – – –
    

Car park repair fund - represents funding received towards car park repairs.

Winter Wonderland fund - represents funding towards the cost of the Winter Wonderland event.

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King George's Field, Caister-On-Sea

Notes to the financial statements (continued)

Year ended 31 December 2024

17. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 6,091 6,091
Current assets 28,450 28,450
 
Net assets 34,541 34,541
 
Unrestricted Total Funds
Funds 2023
£ £
Tangible fixed assets 12,794 12,794
Current assets 25,877 25,877
 
Net assets 38,671 38,671
 

18. Related parties

There were no related party transactions in this or the previous year.

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