Charfty numbor: 285974
THE BARNET RECREATIONAL TRUST
FINANCIAL STATEMENTS
YEAR ENDED 5 APRIL 2024
LUBBOCK FINE LLP
Chartered Accountants
Paternoster House
65 St Paul's Chur¢hyard
London EC4M 8AB

BARNEf RECREATIONAL TRUST
CONTENT8
Pa9e
Rèfèrence and Admlntstratlve Deialls of tho Gharfty. Its Trusts¢$ and Advlsers
Trusts•s' R¢port
statoment of Trust•8's Responsibility
Indèpandent Examlftorfs Rèport
statsment of Flnanclal AGtlvltles
8alan¢¢ Sheet
Nots$ to the Financial Statements
10-21

BARNET RECREATIONAL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees
Adam G D Doran
Robert R Howell, Chalrman
Chartes M Bennett-Baggs
Peter C Moulton
William O Boyes
Martin G Pyrke
Charity regbtered
numbèr
285974
Prlnclpal offlce
5 Pine Grove
Br¢x>kmans Park
Haffield
Herifordshire
AL9 78P
Indep¢nd•nt examlnar
Lubbock Fine LLP
Chartered A¢¢ountsnts & Stslutory Audltors
Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
Bankers
B8rc18ys Bank
Leicester
LE87 2BB
Invgstment Manag?
Cty Asset Management
7 Bishopsgale
London
EC2N 3AR
Solicitors
Howard Kennedy
No 1 London Bridge
London
SE198G
Page 1

BARNET RECREATIONAL TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The Trustees present theSr report and the a￿Unts of the Barnel Recreation81 Trust (the charity) for the year
8nd8d 5th April 2024. The Trustees conflrm that the Annual Report ond the ffnancl81 ststemenls of the charily
comply with the current statutory requlrements. the requirements of the charfty's governing document and the
provlslons of the Statement of Recommended Placti￿ ISORPI, applicable to charities preparlng their accounts
In accordance w￿h th8 Flnancial Rèporting Standard 8pplicabl$ in the UK and Rgpvbllc of Ireland IFRS 1021
leffgclive 1 January 20191.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity Is raglslered wilh the ChafSty Commlssloners under the reglstrdtlon number 285974. It is governed
under the temis of the Charitable Trust Deed dated 11th November 1982 and am&nded 30th A￿￿1 2020.
TRUSTEES
The following Trustees seNed th6 ¢harsty during the year..
Adam G D Doran
Robert R Howell
Charles M Bennett-B8ggs
Peter C Moullon
William O Boyes
Marbn G Pyrke
APPOINTING NEW TRUSTEES
The appolnlment of Tru$tèès Is regulated bythe Charitable Trust deed. The powerof 8ppolntment of newtrvsle$s
lies wllh the members and exisllng Board of Trustees. New trustees are recrulted based on Ihelr aitrlbules and
the requirements of th8 Charity. and are famlllarised with Ihe work that the Charity undgrtakes through meetings
and discussions with Ihe Board of Trustees and other employees of the Charity.
New and additional Trusteès may be appointed by the exlsling Trustees for the lim8 being with tha maxirnurn
number being eight. No external body Is entitled to appoint Trustees.
Th8 Iraining of Trustees is delemiined by the goveman¢e nee(S8 ofthe Trust lo meet Its charitable objectives. On
initial appoinlment, new Trustees Ore glven access lo the goveming documgnt, rinancial infomatlon. meeting
matefials and essential tw$l8e ouidance from the Charty Cornmission.
MANAGEMENT OF RISK
The Trustees are commSlted lo a regular revlew of the maSor slralegic. buslness and operatlonal rfjsks which the
Charty faces with a view lo ensuring that appropriate syslerns and procedures are in pla¢8 to mlnimise thes&
risks.
The majority of funds held by the charity are managed by our Investment Managers. They 8ro authorised and
regulatéd by the Financial Conduct Authority. The Tfuslees regularly meet with the Investment Managers to
discuss performance and risk proflle.
The Trusteos set out the general inveslm$nt policy of the Trust. The Investment M8nagor has delegated power
to buy and sell Snvestments for the Trust in accordance with the Trust's investment policy. Thè appointrnerkt Is
reviewed regularly and the Investment Manager reports to Ihe Trustees al their meetings.
The fvnds held with the Bardays Bank ar￿Unt are held for distrlbutlon to local chariligs and local sports clubs.
induding Community Amateur Sports Clubs (CASCS).
The Trustees conslder there are minimal risks b the mls8pproptslion of funds under presgnl arrangements.
Page 2

BARNET RECREATIONAL TRUST
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 5 APRIL 2024
OBJECTIVES AND ACTIVITIES
The prin¢lpal actlvity of the charity is lo provlde funds to enhance the recreational facilities with the object of
improving the condition of life of those living in the London Borough of Barnet and the immediate vicinity. and for
general chorilable purposgs.
In setting the objectives and plannlng the 8ctivlty ofthe Charty, tho Truste85 have gNen carefvl ¢onsldèralion to
the Charlty Commlsslon's general guldance on public benefil.
GRANT MAKING POLICY
Grant maklng is the maln way In whlch the Trust meets Its obleclives. Grants are made at the dls¢reUon of the
Trust89s in order lo promote the objects of thg Charity.
DECISION MAKING
The trustees malntsii regular contact, mainly through vldeo linked m88tings or email. Thg day-t￿aY executive
decisions are made by Robert Howell & Charfes Bennett-Bag9s with reference lo the trustees where thè
materiality of the dedslon demands such authority.
The payment of funds Is controlled by both the above, who share access to the maln bank acwunts. subject lo
aulhorisation of grants from all truslees.
Inveslmenl decisions r8side with th8 investment man8g&rs bas8d on the poll¢les laid down by the Trustees.
The Names of Truslgos holdlng propety on behaw of tha chority are as follows=
Robert Richard Howell
Charles Martin Bennett-Baggs
PUBLIC BENEFIT
The Barngl Re¢realional Trust refers lo the Charity Commlssion's general guidance on publlc benefit when
revlewing the organisation's aims and objectives and in the planning of future activities.
FUNDRAISING
The cl)arity does not cary out significant fundralslng actfvllles.
RELATED PARTIES AND EMPLOYEES
The d)arity does not have any employees.
RELATIONSHIP wrrH BARNET ELIzAB￿H FOOTBALL RUGBY CLUB
There Is no dlrgct relatlonshlp be￿een the Trust and Barn81 Ellzabethans Rugby Football Club, although four of
the slx trustees are members of the club. In addition the lead trustee is also a director of the club. bul reslgned
as a director at Iha Club's Annual Gener81 Meeting in June 2024. The benefactor from whom most funds held
by th8 Tnjsl was a fomier member {now deceased) and specifically requested Ihal the s¥Jnfficant portion of the
bequeathed funds be used lo enhance the playing and dubhouse facilitie5 to be enjoyed by the youth residing in
the London Borough of Barnèl & for the bengfil ofthe local community.
Page 3

BARNEf RECREATIONAL TRUST
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
INVESTMENTS - SOCIAL, ENVIRONMENTAL AND ETHICAL CONSIDERATIONS
Our investment managers recognise the Importance of soclal. environmentsl and elhl¢al considerations for thelr
cltent wrfolios. and indeed have offerod sustainable investment $8Nice for approximaloly 3½ years.
Since the enlargernentof the porttofiothrough the addition of assets bequeathed to the Trust and tho lequiremenl
to constructa liability matching stralegy, almost 930A of th& portfolio is invested in UK Government Gllts. Treasury
Bills or Supranatlonal Inst￿￿tIonS such as tre World Bank.
Of Ihe refflainlng holdings a number have been approvod for sustainable servico and af¢ part of the research
procoss assessing their ongolng suitability. Funds are scored by our investment managers on a range of criteria
where a score of 1 or 2 would not be approved for the servS¢e, 3 would be pem)itted, bul 4 Is the score they are
ideally seeking. ESG Is a stsndard part of th8 due dllSgence into any fund holdings lo be invested on beh8lf of
their clients.
Approxlmatgly 2.5% of the pthlio would not meet our sustalnabl8 8ervlc8 tsrget scores, however that Is not lo
say that the funds themselves have nol embraced ESG consid$ralions and are considered as appropriate
holdings for client portfolios.
DIFFERENCE MADE TO BENEFICIARIES
The major beneficiary of the Trust's grant rel8les to thg 8amet Elizab&thans Rugby Football Club. The inlentlon
is lo improve th@ facilities offered by thg club lo the local community with children and youths together with their
families enjoying recreation in thg form of plawng an(J watching sporting aclivilies, including rugby football
togetherwilh thè stxial environment provided by the club.
In adulthood those same players & parents migrate lo the senlor club to enjoy the f8cllilles 8nd soclal environment
that in many cases axlend well beyond Iheir playing days.
The Trust also 5UPPDrts sèveral local charities, wllh an émphasls on supportlng local youth inilialwe5 as well as
cancer care in variotjs forms. sports clubs and assisting disabled aclwilias, including horse riding.
The overriding 8mphasis is on irnproving the facilities to enable a large group withln the community lo enjoy
lelsure activlties and Inter personal Social relations with each other.
ACHIEVEMENTS AND PERFORMANCE
During the course of the financlal yearcovèred by thes8 accounls, the chadty encouraged local residents to make
donations to the charfty,
In the financial year covered by these accounts £349.841 12023 £296,851) of Ihe available funds were
distributed to local sports dubs and sporting charitles. This also includes donations made to a local brarKh ofthe
Riding for Ihg Disabled and a number of cancer care and relief charitiès.
The Trustees 8re aware that any gr8nts made must refiect the objectives of the charity and lo be for lh6 benefit
of the local communlty. The Trustees are confident they have achieved these requlrements during the fjrianclal
year.
RESULTS
Detsils of 9ranls made and the results fcir the year are set ￿t In the statement of financial actlvilies on paga 8
and the position at the end of the year is shown in the Balance Sheet on page 9.
Page 4

BARNEf RECREATIONAL TRUST
TRUSTEES. REPORT (CONTINUED
FOR ThE YEAR ENDED 5APRIL 2024
FlhlANCIAL REVIEW
During the year 8ndgd 5 April 2024, thè charity receSved income totalling £158.76612023 - £8,486,609) which
included the balance of 8 legacy from the Tesidue of the eslale of a former local residenL Charitable activity
costs of £419,096 12023 - £356,080) ￿re Incurred. Thls resulted in carried forward unrestricted reseNes of
£8.455.873 12023 - £8.591.7361. A significant portion of these resetves are Intended to be used in the
redevebpment of a Ioc81 SPDri8 club by upgrading the facllftles for the benefit of the local cornmunity. Planning
pemiission has been granted by the local aulhorty planning committee, subject lo conditions. Final certlfication
by the Ioc818Lrthority remains outstsnding. It is Intended to retsin suffI¢ienl resorves at a level to continue lo
meet Ihe charlty's outreaches.
RESERVES POLICY
11 Is the gerbèral policy of the Trustses to hold reserves that when Investsd w(11 provide slrfficienl income to meet
the grant making policy of the Trustees. The Trustees longeT term objective is to have a minimum of £1.000,000
In unrestrtcted reserves following the redevelopment of the Barnet Ellzabelhans Rugby Football Club. These
reserves would be used to continue to support local projects and causes. Al the balance sheet date unrestricted
reserves exceeded this amounL
PLANS FOR THE FUTURE
Thg inltial obleclive Is to concentrate on upgrading the rugby club infraslruclure to improve the facilities to
accommodat8 both for extsllng us8rs as w811 as encouraging women's rugby and disabled invoivemenl in 8POrt.
Nakhgr of these fatter two objecttve5 are possible at this time owng to a clubhouse that was constructèd in th
1950s.
The Trust also wishes to retain 5ufflcienl funds lo enable conllnued donauons lo be made to local good causes
as the trustees deem approprlato.
Page 5

BARNET RECREAnoNAL TRUST
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 5 APRIL 2024
TRUSTEES. RESPONSIBIUTY STATEMENT
The TTUStees are responsible for prepa￿ng the Trustees. Report arEd the ffnandal statements In accordancè wlth
applicable law and United ￿ngdoM Accounting Stsndards (United ￿ngdoM Generally Accepted Accountlng
Practice).
Th8 law applicabl8 to chaiities in England & Wales requir8s the Tntstee8 to prepare )Inandal stalements for each
finandal year which give a tfue and fair view of the slate of affairs of the ChaTity and of its incoming resources
and application of resources, including its income and expenditure. for Ihat period. In PT9paring these financial
statements, the Trustees are required to:
select sultable accounting polides and th&n appty them consistently,
ob5ewe the methods and principles ofthts Charities SORP {FRS 102)-
make judgments and accounting Èstimates that are reasonable and prudent,.
state whether opplicable UK Acoounting Stsndards (FRS 102) have been followed, subje¢t to any mater181
departures disclosed end explaln8d in the financial statements-,
prepare the financsal statements on the going Goncern basis unless il is inappropriate to piesume that the
charity will continua in business.
The TTUStees are responsible for keeplng adequate accounting reoords that are sufficient to show and explain
the charity's transactlons and disclose wlth reasonable accuracy at any time the financial positon of the cherity
and enable themto ensurethatlhe financial statements compty wlth the Charities Act 2011, the ChaTity {A¢u)unts
and Reports) Regulations 2008 and the provisions ofthe Trust deed. They are also responslble for safeguarding
Ihe assets of the charity and hence for taking reasonable steps for the prevention and deteotion of fraud and
othaT irregularibes.
This report wa5 approved by the board of Trustees and signed on thgir b8half by:
Robert R Howell
TTUStee
Charles M Bennett-Ba
Trusteg
Pag¢ 6

BARNET RECREATIONAL TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED S APRIL 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARNET RECREATIONAL TRUST
Ilhe CharSty'}
I report lo the chadty Trustees on ffly examination of the accounts of the Charity for the year ended 5
April 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees ofthe Charltyyou are responslble forlhe preparollon of the accounts In 8c¢ord8n¢e wlth
the requlrements of Ihe Chariti98 Acl 20111.the 2011 Acl'l.
I report In respect of my examinatltsn of the Charity's aocounts Ca￿led out under 8ectk>n 145 of the 2011
Act and in Carrying out my examination I have followed the appIl￿ble Directions glven by lh9 Charity
Commission undèr s8Ction 14515llb) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have compleied my examination. I confim that no material mattgfs hav& come to my attenlion in
connection with the examination giving me cause to believe that in any rnaterial respect:
accounting records were not kept In respect of the Charity as requlred by section 130 of the 2011
Act., or
2. thg accounts do not accord with Ihose records.. or
3. the accounts do not comply wth the appli¢8ble requlremènts conceming the form and cont8nl
of accounts set out in the Chamlles {Accounts and Report81 Regulatlons 2008 other than any
requirement that th& accounts give a'true and f8ir' view which is not a matter Cor￿Idered 8$ part
of 8n independent examination.
I have no concems and h8v8 come across no other matter8 In conneclon wlth the examination lo which
attention should be drawn In thls report in order to enable a proper understanding of the accounts to bè
reach8d.
This report Is mad8 solely to the Chartty's Trustees In accoT{Jan￿ with Part 4 ofthe Charities {Accounls
and Reports) Regulations 2008. My work has been undertaken so that I mTght state to the Chariws
Twslèès Ihose matters l am required to stale lo them in an Independent Examiner's Report and for no
other purpose. To the fullest exlenl permitted by law. I do not accept or assume responsibility to anyone
other than the Charity and the Charlty's Trustees for my woik orfor this report.
Hazra Patel ACA
Lubbock Fine LLP
Chartered Accountants & Slatulory Audltors
Palernosler House
65 St Paul's Churthyard
London
EC4M 8AB
Page 7

BARNET RECREATIONAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED S APRIL 2024
Unrestrict8d
funds
2024
Restrictsd
funds
2024
Total
funds
2024
Total
fLrnd$
2023
Note
Income from:
Donations andlggacles
10.934
8,600
19.534
8,316.342
Inv&slmenls
139.232
139.232
152,095
Inier8sI recelvable
18,172
Total Income
Expenditurè on:
600
Charitabk activities
410,496
8,600
419,096
356.080
Total expenditure
10
356
Net lexpendlture}Ilncome before net
gainlllossesl on Investments
1260.330)
(260,330)
8.130,529
Nel gainl{losses1 on investments
124,467
124,467
167,4221
Net mov8m•nt In funds
Reconciliatlon of funds..
Total fund5 broughtforward
8,591,736
8,591.736
528.629
Net movemént In funds
1135.863)
(135,863)
8,063,107
Total fvnds carrl&d lo￿ard
The Slalement of Flnanclal A¢tlvilles includes all galns and losses recognised in the year.
The notes on pages 10 to 21 forni part of these financlal statements.
Page 8

BARNET RECREATIONAL TRUST
BALANCE SHEET
AS AT 5APRIL 2024
2024
2023
Note
F5xed assets
Investments
8,241,863
7,923,834
Invesknenl propeity
10
25,000
384,500
8.266,863
8,308,334
CuNent assets
Debtors
11
76,082
68,654
Cash hekl by City Asset Management
112,140
178.376
Cash at bank
36,101
79,689
224,323
326,699
Creditors- amounts faltsng due within onè
year
12
(35,313)
{43,297)
Net current assets
189,010
283,402
Total net assets
Charty funds
R&8tricted funds
13
Unrostricted funds
13
8,455,873
8,591,736
Total funds
The financial statements weTe approved and authorisgd foT issue by the Trustees and signed on thelr behalf by:
Robert R Howell
TTUStee
ch
s M Bennett4ag
Trustee
Date.. 1s/o¥13£iJ*
The notes on pages 10 to 21 fom part of these financlal statemenls.
Page 9

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
A¢eountlng policie$
1.1 Basls of preparatton of flnanclal statsmènts
The financial statements have been prepared In accordance with Accounting and Reporting by
Charities.. Ststement of Recommended Practicè appli¢able lo charities preparin9 (heir accounts In
accordance with the Flnancial Reporting Standard appI￿able in the UK and Republic of Ir&land IFRS
1021 (effective 1 January 20191- (Charities SORP IFRS 10211, and the Financial Reporting Standard
applicable in thè UK and Republic of Irbland IFRS 1021- The financial slatements have btttrn rounded
to the nearest pound.
The Barnet Recr&8tlonal Trust meets the definition of a public benefit entity uNJer FRS 102. Assets
and liabilities afe inltially recognlsed al hlslofical cost or transaction value unless olhemise slated in
the relevant accounting polScy. The accounts hav8 been prepared using the fair value method In
respect of investments.
Bamet Recreational Trust meets the d8finilion of a public benefit entity under FRS 102. Assèts and
liabililies are initially r?cognised at hIstOr￿al cost or transactim value unless otheNlse staled in Ihe
relevant accountin9 policy.
12 Golng con¢em
The accounts have been prepared under a golng concem basls, whlch assumes that curyent and
future sourc8s of bjnding will be adequate for the charity's needs.
The charity mèèls its running ¢￿ts from Income received from éonatKJns and inveslmgnls. Th8
Trusteescontinuously revlèw the income and expenditure levels to ensure Teserves romain adequate.
On the basls of this policy. the Trustees conslderthat the charity will continue in operational existence
for the foreseeable future.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the diScre￿On of the Trustees In
furtherance of the general objecllves of the Charity and which havg not been d8sign8ted for other
purposes.
Restricted funds are funds which are used in accordance with specffic restrictions Imposed by donor8
or which have bgen raised by th8 Charity for particulai purposes. The airn and use of each reslrlcled
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fijnd.
Page 10

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EMDED 5 APRIL 2024
Accountlng policies Icontlnuedl
1A Incomo
l income Is recognised once th8 Charity has entitlemonl to the income, il Is probable Ihatlhe income
wlll be r8ceSved anil the amount of Irmme receivable can be measured reliably.
The re￿gnitIOn of income from legacl88 58 dependenl on establishing entitlement, the probability of
recelpl and tho ability to estimate with sufficient accuracy the amount receivable. Evidence of
OntlUem&nt lo a legacy exists when the Charity has Suffic￿nt evidence that a grft has been left to them
(through knowledge of the existence of a valid will 2nd the death of tho benefaclorl and the executor
Is satisfied that the property questlon wlll not be requlred to satisfy claims In Ihg estate. Receipt of
a legacy must be ￿cogniSed when 11 is probable that il will be received and th@ fair value of the
amDunt receivable, which will generally be the expected cash amountlo be distributed lo the Charity.
can be reliabty measured.
Donalion Income is generally rgcognised when received or at polnt of pledge.
Income lax recover8bl8 in relation lo donauons received under Gift Aid or deeds of covenant is
recognised at the Ilme of tha donation.
Income tax recoverable in relalion to Invesknenl income is recognised at tho lime the Inveslmenl
income is recoivable.
1.5 InleTest recelvablg
Interest on funds held on deposit is included when receivable and the amount can be measured
Teliably bythe Charity.. this is normally upon nolrfication ofthe interest pald or payable by the institution
with whom the funds arg deposited.
1.6 Expendltura
Expenditure Is recognised onca there is a legal or constructive obllgallon to transfereconoml¢ benefit
to a Ihlrd party. il is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligatlDn can be rnèasured reliabty. Expenditure is classifièd by activity. The costs
of each activity are made up of the total of direct costs and shared Gosts. including support costs
Involved irs undertaking each activity. Dirècl costs attributablg lo a single aclwity are allocated dire¢Uy
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributsble to a single activty are apportioned btheen those activfties on a basis conslslent ￿th
the use of resources.
ExpendSture on charitablè activtties is incurred on diTe¢tly undertakin9 the activltles whlth further th8
Charity's objectives, as well as any associated support costs.
Gr8nts payable is charged in Ihe year when thè offer is made except In those cases where the offer
conditional, such grants being recognised as expenditure when the condltions attaching arefulfilled.
Grants offered subject to conditions wh1ch have not been met at the year-en(J arè noted as a
commitment. bul not accrued as expendlture.
Support costs are those costs incurred dlredy in support of expenditure on the objects of the charity
and include govemance costs.
Pag8 11

BARN￿ RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Accountlng poll¢le5 (contlnuedl
1.7 Investments
Fixad asset Investmerbts ar8 a form of financial instrument and are initially rerxjgnised at their
Iransaction cost and subsequenuy measured atfair value atthe Balance Sheet date, unless the value
cannot b& measured Teliably in vthich case it is Measured at cosl16ss Impaimi¢nl. Inveslm8nt galns
and losses, whether realised or unrealised, are combined and shown in the heading
'Incre8sel{de¢reasel in value of investments, in the Statement of Financial Activities incorporallng
Income and Expenditure account
Investments In subsldlarles are valued at wst less provi$lon for IMpalM￿nI.
1.8 Investment Property
Investment propety is Carrtèd at faiT value derived from the current market rents and investment
property yields for comparable real estate, adjusted if ne￿SSary for any dlfference in the nature.
location or condition of the speclfic asset. No depreclauon Is provlded. Changes in the falr v81ue ara
recognisgd in tha Slalemenl of Financi81 Activitios.
1.9 Debtors
Trade and other debtors arg recognlsed al the settlement amounl after any trade discount offered.
1.10 Cash at bank and In hand
Cash al bank and in hand includes cash and short-term highly liquid Investments with a short matur(ty
of three months or less from the dale ol acquisition or opening of the deposit or similar account.
1.11 Llabllltles and provlslons
Llabilities ore recognised when there is an obligation at the Balance Sheet date as a re5uII of 8 past
event. it Is probable thal a fransler of econornic benefit will be required in settlement, and the amount
of th& settlomenl ¢an be estimated reliably.
Llabllltl&s are recognlsed at the amount that the Charity anticipates It will pay to settte the debt orthe
amoun111 has received as advanced payments for the got)ds or Sèrvices r( musl prov(de.
Provigions are measured at the best estimate of the amounts required to settle thg obllgation.
1.12 Flnanclal Instruments
The Charfty only has financl818ssels and financl81 Ilabllllles of a klnd that qualify as b8$1¢ financial
instruments. 8aslc financial instruments are initially recognised attransaclion value and subsequently
me8sured at their settlement value with the exception of bank loans which are subsequent5y
measured at amorti3ed Cost using the effective Interost method.
1.13 Taxatlon
Bamet Recreatk)nal Trust 1$ a registered charlty and based on tha activlties undertaken is not liable
for UK corporallon lax.
The charity was not VAT registered durtng the year ond therefore all expenses are inclusive of any
VAT which cannot be recovereij.
Page 12

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Income from donatlons and legacles
Unrestrl¢t8d R8Strlctèd
funds
funds
2024
2024
Total
funds
2024
Donations
520
Legacies
10.414
8,600
19,014
Unrestri¢ted
funds
2023
Total
funds
2023
Donations
60,260
60.260
Legacies
8,256,082
8.256.082
Investmant Income
Vnrestrieted
funds
2024
Total
funds
2024
Inveslmenl income
Unrostricted
funds
2023
Total
funds
2023
Investment income
Page 13

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Int¢r•st r•¢èlvabl¢
Unrestricted
fvnd$
2024
Total
fund$
2024
Total
fund$
2023
nlere$l recervable
Anatysls of expendlture by actlvltles
Grants
payabla
2024
Support
costs
2024
Totsl
funds
2Q24
Charitable activity co8ls
Grants
payable
2023
Support
¢osts
2023
Total
funds
2023
Charf(able activity costs
Analysis of support cost$
Total
funds
2024
Activities
2024
Trustee Insurance. LEI fee and support ￿)81$
1.659
1,659
Inveslmenl Management Fees
48,995
48,995
Independent examiners feès
3.500
3,500
Legal & Accountlng advice fees
15.101
1S,101
Page 14

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Total
funds
2023
Actlvltle$
2023
Trustee Insurance
369
369
Independent examlners fees
13501
1350}
Investh)enl Management Fees
44.828
44,828
Audito￿, remuneration (governar￿)
12,600
12,600
Legal fe8$
1,782
1,782
Analysls of grants
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
202d
Rldlng for the Disabled
2,000
2,000
st Mary. the Virgin Churth House Appeal
1,000
1.000
Bamet Elizabethans Rugby Foolball Club
331,241
331.241
Macmillan Cancer R81ief
750
750
Monken Hadley Cricket Club
500
8,600
9,100
Parkinsons
500
500
Juncllon Eight Athletlc Track
500
500
Home Stsrt. W8tford
1.000
1.000
Chery Lodge Cancer Care
750
750
Isabel Hosplc8, 8arnet
500
Young Bamel Foundation
2,000
2,000
North London Hosplce
500
500
Page 1S

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted
funds
2023
Total
funds
2023
Rldlng for the Dlsabied
1,500
1,500
St Mary, the Viryin Churth House Appeal
1,000
1.000
Bamel Ellzabelhans Rugby Football Club
286.351
286.351
Macmilan Cancer Rellef
1,500
1,500
Maylroe Counselling Care
500
500
Monken Hadloy Cricket Club
500
500
Hospice of St Francis
500
500
Junction Elght Athletic Tr8ck
500
Home Siart. Bamgt
500
500
Cherry Lodge Cancer Care
1,500
1,500
l$abel HOSp￿e. Bam8t
1,000
1,000
Monken Hadley Common Trust
500
500
North London Hosplce
1,000
1,000
Page 16

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Trustees. remunèratlon
During the year, no Trustèes re￿ived any rernuneralion or oth8r bèn8fits12023- £NIL).
During the year ended 5 April 2024, Trustèe meeting expenses of £630 have been incurred12023- £NILI.
N¢t Galnsl(Losse$l on Investments
2024
2023
Reallsed galnslllosses) on invttslments
92,011
(11,922)
Unrealk88d goi￿(10sseSI on inveslfflents
32.456
155,500)
Fixed a$$ot Investments
Investments
In subsidlary
ompanlès
Listed and
other
Invaslments
Tot41
Cost or valuallon
At 6 April 2023
7.923.834
7.923.834
Additions
4,645,89D
4,645.892
Dlsposals
14,360.3191 {4.360.3191
Revaluations
32,456
32.456
Al 5 Aprll 2024
Net l)ook value
Al 5 April 2024
L1 8241
At 5 Aprll 2023
Page 17

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Prlnclpal subsidlarle8-
Tha following wa$ a subsidiary undertakin9 of the Ch8rfty'.
Name
Barnet RT Limited
Company number
15336071
Holding
Net assBts
ProfiVIo$s
£Nil
10. Investment property
Long term
leasehold
inve51mènt
property
Valuation
At 6 April 2023
384.500
dillons
25,000
DIspDsals
(384.5001
At 5 April 2024
The investment property held 81 5th April 2023 valued by the Trustees al £384,500 was disposed of for
£396.125 in January 2024 wlth the surplus being included wthin net galn on Investments. A plot of land
was transferred to the Trustees in Novembtrr2023 and was valued by the Trustees at£25.000 on an opan
market basis as al 5 April 2024.
11. Debtors
2024
2023
Due wlthln one year
Other debtors
56.474
40,500
Prepayments and a￿rtsed income
19,291
24.244
Tax recoverable
317
3,910
Included wllhln other debtors is £33,974 recelvable in respect of legaw income.
Page 18

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
12.
Credllors: Amounts falllng due within otte year
2024
2023
Accruals and d8ferre(I Income
Despite planning permission beSng granted by thè planning committee of the Ioc81 authority in September
2023, the planning certificate is y8t lo be released by the planning department pending certain planning
Conditions being mel. Consequent￿, the construction of the clubhouse and ground improvement has had
to be deferr￿ for at least 12 months. Therefore, nts additional commitments. other Ihan the afflounl of
£10,592 included withln accruals. were made by the balance sheel dale.
13. Statement of funds
Statement of funds * current year
8alance at
6 Aprll 2023
Galnsl Balance at
IL066e61 S April 2024
In¢ome Expendlture
Unrèstrictèd funds
General Funds
B 591736
150 166
8 455 873
R•$trfctsd funds
Total funds
statement of funds- prlor year
Unaudited
Balaneè at
6 Aprll 2022
Galnsl Balancg at
(Losses) 5 Aprll 2023
Income Expendlture
Unrestricted funds
General Funds
48
356 080
8591736
Total funds
Page 19

BARNET RECREATIONAL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED S APRIL 2024
Restricted funds
During the year. the charity recelved lega¢y income of £8,600 {2023- £Nill to be spent for Ihg banefit of
th& Monken Hadloy Cricket Club and Ils rnembers.
1& Analys1$ ol net assets between funds
Analys15 of net ass•t$ bètwèen funds- current year
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Fixed asset Investments
8,241,863
8,241,863
Investment Propety
25,000
25,000
Current ass&ts
215,723
8.600
224,323
Crediiors dsje within one yoar
126,7131
{8.6001
135,3131
Total
Analysis of net ass￿ botwa&n funds - prlor year
Unrestrlcted
funds
2023
Total
funds
2023
Flxed asset nveslmenls
7.923.834
7,923,834
Investment Plopgrty
384,500
384.500
Currenl assets
326,699
326.699
Credkor8 due withln one year
Total
(43,2971
143,2971
Page 20