Charity number: 285974 THE BARNET RECREATIONAL TRUST FINANCIAL STATEMENTS YEAR ENDED S APRIL 2025 LUBBOCK FINE LLP Chartered Accountsnts Paternoster House 65 St Paul's Churehyard London EC4M 8A8 BARNET RECREATIONAL TRUST CONTENTS Page Reference and Adminlstratlve Details of the Charlty. Its Trustoes and Advisers Trustees. Report Statement of Trustea's Responsibillty Indgpendent Examlnerfs Report statemont of Flnanclal Actlvltles Balance Shoet Notes to the Flnanclal Statomgnts 10-21 8ARNET RECREATIONAL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED S APRIL 2026 Trustees Adam G D Doran Robert R Howell. Chairman Charles M Bennett-Baggs Peter C Moukon William O Boyes Martin G F*rke Charty reglstered numb&r 285974 Principal offlce S Pine Grove Brookmons Pa Hatfield Herlfordshire AL9 7BP Indopgndent examlner Lubbock Fine LLP Chartered Accountants & Statutory Auditor8 Palemoster House 65 Sl Paufs Churchyard London EC4M 8AB Bankers Barclays Bank Leicester LE87 2BB Investment ManageTS Cty Asset Management 7 Bishopsgate London EC2N 3AR Sollcltors Howard Kennedy No 1 London Bridge London SE19BG Page 1 BARNET RECREATIONAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their report and the accounts of the Bamet RecreatKJnal Trust (the charity} for the year ended 5th April 2025. The Trustees confimi Ihat the Annual Report and the financial statements of the charlty comply with the current stalulory requirements. the requirements of the chafily's governing document and the provisions of the Statement of R￿0MMended Practice ISORPI, applieable to charities preparing their aecounls in accordance wrth the Firbancial Rep(wling Standard applicab￿ in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. STRUCTURE. GOVERNANCE AND MANAGEMENT The charity is registered with the Charity Comm¢ssIone￿ under the registration number 285974. It is governed under the lemis of the Charitable Trvsl Deed dated 11th November 1982 and amended 30th April 2020. TRUSTEES The following Trustees seNed the charity during the year. Adam G D Doran Robert R Howell Charles M Bennett-Baggs Peter C Moulton William O Boyes Martin G Pyrke APPOINTING NEW TRUSTEES The appointment ofTrustees is regulated by the Charitable Trustdeed. The powerofappointmentof new trustees lies with the members and existing Board of Trustees. New trustees are recruited based on their allributes and the requirements of the Charty and are familiarised with the work thal the Charity undertakes through meetings and ijiscussions with the BoaTtI of Tru$lees and (￿her employees of the Charity. New and additional Trustees may be appointed by the existing Trustees for the time being with the maximum number being eight. No extemal body is entitled to arwint Trustees. The training of Trustees is determined by the govemance need5 of the Trust lo meet its charitable objectives. On inbtial appointment, new Trustees are given access to the governing document. financial information. meeting materials and essential tTUStee guidance from the Charty Commission. MANAGEMENT OF RISK The Trustee5 are committed lo a regular review of the major slrategic. business and opeialional risks which the Charity faces with a view to ensuring thal appropriate systems and procedures are in place lo minimise these risks. The majority of funds held by the charty are managed by our Investment Managers. They ar& auth0ri5ed and regulated by the Financial Conduct Authorty. The Trustees reguLgrty meet with the Investment Managers lo discuss performanee and risk profile. The Trustees set out the general investment policy of the Trust. The Investment Manager has delegated power to buy an(J sell investments for the Trust in accordance with the Trusys investment policy. The appointment is reviewed regularty. and the Investment Manager reports to the Trustees at their meetings. The funds held wrth the Barclays Bank account are held for dk8tribution to local charities and local sports clubs, including Communty Amateur Sports Clubs ICASCs}. The Trustees consider there are minimal risks to the misappropriat￿)n of futKls under present arrangements. Page 2 BARNET RECREATIONAL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2025 OBJECTIVES AND ACTIVITIES The principal activity of the charty is to Provide funds to enhance th8 recreational facilities with the obje¢t of wnproving the condition of life of those living in the London Borough of Barnet and the immediate vicinity. and for general charitable purposes. In selling the objectives and planning the activty of the Charty. the Trustees have given carefvl consideration lo the Chaflty Commission's general guidance on public benefrt. GRANT MAKING POLICY Grant making is the main way in which th8 Trust meets its objectives. Grants are made at the discretion of the Trustees in order lo promote the objects of the chaTIty. DECISION MAKING The trustees maintain regular contact, mainty through video linked meetings or email. The day-to-day executive decisions are made by Robert Howell & Charfes Bennett-Baggs with reference to the Iruslees where the malerialily of the decision demands such authority. The payment of funds is controlled by both the above. who share access to the main bank accounts, subject to authorisalK)n of grants from all tw¥tees. Investment decis#)ns resbje with the investsnent rnanage￿ based on the policie$ laid down by the Truste8S. The Names of Trustees holding prc¢)erty on behalf of the charity are as folk)ws". Robert Richard Howell Charles Martin B8nnett-8aggs PUBLIC BENEFIT The Bamet Recreational Trust refer8 to the Charity CommissKJn's general guidance on public benefft when reviewing the organisalion's aims and objectives and in the planning of future activities. FUNDRAISING The charity does not carry out significant fvndrabsing activities. RELATED PARTIES AND EMPLOYEES The charity does not have any employees. RELATIONSHIP WITH BARNET ELIZABETH FOOTBALL RUGBY CLUB There is no direct relationship belween the Trust and Bam8t Elizabethans Rugby Football Club, af(hough four of the six Iruslees are members of the club. In addition. the lead trustee is also the treasurer of the club bul resigned as a director al the Club's Annual General Meeting in June 2024. The benefactor from whom most funds held by the Trust was a former member {rbOW deceased} and specrfically requested that the significant portion of the bequeathed funds be used to enhance the playing and dubhouse facilities lo be enjoyed by the youth residing in the London Borough of Barnel & for the benefit of the local community. Page 3 BARNET RECREATIONAL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2025 INVESTMENTS - SOCIAL. ENVIRONMENTAL AND ETHICAL CONSIDERATIONS Our investment managers recognise the importance of social, en¥1￿mental ar*d ethical consideration$ for their client portfolios, and indeed have offered sustairtable investment se￿iCe for approximatety 4'A years. Since the enlargement of the portfoliothrough the addition of assets bg]ueathed lothe Trust and the requirement to construct a liabil¢ty matching strategy. almost 85% ofthe portfolio is invested in UK Govemmenl Gills, Treasury Bills or Supranational institutions such as the World Bank and cash. Of the remaining holdings a number have been approved for sustsinable service and are part of the research process assessing their ongoing sui(ability. Funds are scored by our investment managers on a range of crrteria where a score of 1 or 2 would not be approved for the ser¥￿e. 3 woukl be pemitled, bul 4 is the score they are ideally seeking. ESG is a standard part of the due diligence into any fund holdings to be invested on behalf of their cltents. Approximately 2.5% of the portfolio would not meet our Sustainable Service target scores. however that is not lo say that the funds themselves have not embraced ESG considerath)n$ and are considered as appropriate holdings for client portfolio5. OIFFERENCE MADE TO BENEFICIARIES The major beneficiary of the Trust's grant relates to the Bamel Elyzabethans Rugby Football Club. The intention is lo improve the facilities offered by the club to the k)cal commun-ty with children and youths together with their families enjoying recreation in the fomi of playirbg and watching sporting activi(ies. including rugby football together with the social environment prowded by the club. In adulthood those same players & parents migrate tothe senioT club to enjoy the ￿lIrtIeS and social environment that in many cas8s extend well beyond their playing days. The Trust also supports several local charities, with an emphasis on supporting I(￿al youth initiatives as well as Sports clubs and assisting disabled activtiies, including horse riding. The overriding emphasis is on improving the facilriies to enable a L3rge group Within the communty lo enjoy leisure activities and inter personal social relations with each other. ACHIEVEMENTS AND PERFORMANCE During the course of thefinancial year covered bythese accounts, the charity encouraged I￿al residents lo make donations to the charity. In the financial yearcovere(I by these accounts £62.03012024- £349,841) of the available funds were distributed to local sports clubs and SFKJrting charities. This abo includes a donation made to a local branch of the Riding for the Disabled. The Trustees are aware that any grants made musl refflecl the objectives of the charity and lo be for the benefit of the local community- The Trustees are confident they have achieved these requirements during the financial year. RESULTS Details of grants made and the reyulis for the year are set out in the statement of financial activities on page 8 and the posf(ion at the end of the year is shown in the BaLgnce Sheet on page 9. Pag8 4 BARNET RECREATIONAL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 FINANCIAL REVIEW During the year ended 5 April 2025. the charity received income totalling £98,50212024- £158.766). Charitable activity costs of £118.19312024- £419.0961 wefe incurred. This re5Urted in caffied fO￿ard unrestricted reserves of £8,713.017 (2024 £8.455,8731. A sunificant portion of these reserves are intended to be used in the Tedevelopment of a local sports club by upgrading Ihe facilitwd for the benefrt of the local community. Planning pemis8ion has been granted by the Ioc81 authority planning Committee, with Ihe majorty of the condi(ions now resolved. Final certification by the local authorty remains OLrtslanding. It ig intended lo relain sufficient reserves al a level lo continue to meet the charity's oUtr&￿heS. RESERVES POUCY It is the general policy of the Trustees to hold reserves that when invested will provide sufficient income to meet the grant making policy of the Trustees. The Trustees longer lem objective is to have a minimum of £1,000,000 in unrestricted reserves following th& redevelopment of the Bamet Elizal)ethans Rugby Football Club. Those reseTves would be used lo continue to support local projects and causes. Al the balance sheet dale unrestricted reserves exceeded this amount. PLANS FOR THE FUTURE The initial obje¢live is to concentrate on upgrading the rugby club infrastructure to improve the facilities to accommodate both for &xistin9 users as well as encouraging women's Tugby and disabled involvement in sport. Nerther of these latter Iwo objectives are possible at thi8 time owing to a clubhouse that was constructed in the 1950s. The Trust also wishes to retain sufficient funds lo enable Continued donations to be made lo local good causes as th8 trustees deem appropiiate. Page 5 8ARNET RECREATIONAL TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 TRUSTEES. RESPONSIBILITY STATEMENT The Trustees are responsible for preparing the Trustees. Report and the financial slalements in accordance with applicablg law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for each financial year which gNe a true and fair view of the state of affairs of the Charity and of ils incoming resources and application of resources, inclijding its income and expenditure, for that peri¢xl. In preparing these financial statements, the Trustees are required to". select suilabfe accounting policies and then app￿ them consistently, observe the methods and principle5 of the Charities SORP {FRS 1021.. make judgments and accounting eslimates that are reasonable and prudent- state whether applicable UK Accounting Standards {FRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate aecounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure thal the financkal statements comply with the Charities Act 2011, the Charity IAccout)Is and Reports) Regulations 2LK)8 and the provistons of the Trust deed. They are also responsible for safeguardin9 the assets of the chariiy and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by the board of Tnjstees and signed on their behaw by.. Robert R How011 Tnjstee Charles M Bonnett- Trustee aggs Date". Page 6 3ARNET RECREATIONAL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 6 APRIL 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARNET RECREATIONAL TRUST I'the Charlty'l I report lo the charity Trustees on my examinatKJn of the a￿Unts of the Charity for the year ended S April 2026. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible forthe preparation of the accounts in accordance with +he requirements of the Charilies Act 2011 (Ihe 2011 Act')- I report in respect of my examination of the charit￿s accounts carr¢ed out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Difeclions given by the Charity Commission under section 145(5)(b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have ¢ompl8ted my examination. I confirm that no material matters have come to my attention Ir, connection with the examinalK)n gNing me cause lo believe that in any material respect.. accounting record5 were not kept in respect of the Charity as required by section 130 ofthe 2011 Act.. or 2. the accounts do not occord wilh those records" or 3. th8 accoun15 do ncrt comply with the appItsb￿ requirements C￿cerning the fcffii and content of accounts sel out in the Charitie5 {Accounls and Reports) Regulations 2008 other than any requirement that the acwunls gwe a and faiff view which is not a matter considered as part of an independent examination. I have no concems and have come aeross no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understarKling of the accounts to be reached. This report is made solely lo the Charity's Trustees in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state lo the Charity's Trustees those matters l am required to stale to them in an Independent Examinerfs Report and for no other purpos&. To the fullest extent permitted by law. I do not accept or assume responsibility lo anyone other than the Charity and the Chanty's Trustees for my work or forthis Teport. Aazra Patel ACA Lubbock Fine LLP Chartered Accountants & Statutory Auditors Paternoster House 65 St Paul's Churchyard London EC4M 8AB Dale.. oz/G>?/ ? Page 7 BARNET RECREATIONAL TRUST STATEMENT OF FINANCIAL ACTivinES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025 Unrestrlcted funds 202S Restrfcted funds 2025 Total funds 2025 Total funds 2024 Income from: Donations and legacies 20 20 19,534 Investments 98.482 98.482 139,232 Total Income Expendituro on: Charitable activities 118,193 118,193 419,096 Total expenditure Net (expenditurollln¢ome before n¥( gainl(los$esl on Investments (19,6911 119.6911 1260.3301 Nel gainl{losses} on investments 276.835 276.835 124,467 Net movament in funds Reconciliation of funds: Totsl funds brought fO￿ard 8,455.873 8.455.873 8.591,736 Net movement in funds 257.144 257.144 {135,8631 Total funds caTri8d formard The Statement of Financial ActTvities includes all gains and k)sse$ recognised in the year. The notes on pages 10 to 21 fomi part ofthese finanual ststements. Page 8 BARNET RECREATIONAL TRUST BALANCE SHEET AS AT 5 APRIL 2026 2025 2024 Note Flxed assets Investments 8.044,183 8,241.863 Investment property 25,000 ,044.183 8,266,863 Currgnt assets Debtors 10 114.227 76,082 Cash held by City Asset Management 578.144 112.140 Cash at bank 1.253 36,101 693.624 224.323 Credilors.. amounts falling due within one year 11 {24,7901 135,313) Net current assets 668.844 189,010 Total net assets Charity funds Restricted funds 12 Uniestricted funds 12 8,713,017 8,455,873 Total funds The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Robert R Howell Trustee Charles M Bennett-Bagg TTuslee Dale.. The notes on pages 1010 21 form part of these financial statements. Page 9 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accounting policies 1.1 Basls of prgparation of flnanclal statements 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 IFRS 1021 leffective 1 January 20191- {Charities SORP IFRS 102)), and the Financial Reporting Standard applicable in th8 UK and Republic of Ireland {FRS 1021- The financial statements have been rounded lo the nearest wund. Barnet Recreational Trust meets the definilion of a public benefrt entity under FRS 102. Assets and liabilities are inf(ially recognised at historical cost or transaction value unl8SS Othe￿1$e staled in the re￿vant accounting polKy. 1.2 Going ¢on¢ern The accounts have been prepared under a going concem basis, wh￿h a$sume8 that Cufrenl and future sources of fvnding will be adequate for the Charrfy's needs. The chaiity meets its running costs fr(wn incorne received from donats'ons and inve81ments. The Trustees eonlinuously reviewthe ineome and expenditure levels lo ensure reserves remain adequate. On the basis of this policy. the Trustees ¢onsiderthal the charity will ￿ntinUe in operational existence for the foreseeable future. 1.3 Fund accounting General funds are unrestricted fvrKls whbch are availabl8 for use at the di8cretion of the Trustees in furtherance of the general objectrves of the Charity and which have not been designated for other purposes. Restricted funds are funds which are used in accordance with specific reslri¢lions imposed by donors or which have been raised by the Chartty for particular purpose5. The aim and use of each restricted fund is set out in the notes lo the financial sL*ements. Investment income. gair¢s aThJ losses are alk)cated lo the approprtate fund. Pag810 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 A¢countlng pollcles Icontinu¢d) 1.4 Income All income is recognised On￿ the Charity has entitlement to the income. it is probable that the income will be received 8nd the amount of income receivable can be measure(J reliably. The recOgnit￿n of income frryn legacw6 18 dependent on establishing entitlement, th8 probability of receipt and the abilty to estimate with sufficient accuracy the amount receivable. Evidence of enlillemenl to a legacy exists when the Charity has sufficient evidence that a gift has been left to them {through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in queSt￿n will not be required to satisfy claims in the estate. Receipt of a legacy must be recogniseil when it is probable that it will be received and the fair value of the amount receivable, which will generalty be the eXp￿ted cash amount to be distributed lo the Charity, can be reliably measured. Donation income is generalty recognised when received or at point of pledge. Income lax recoverable in relat￿n to donations receNed under Grft Aid or deeds of covenant 18 recognised at the time of the donatK)n. Incom& tsx recoverab￿ in relalion to investment income is recognised at the time the investment income is r￿e1vable. 1.6 Interest rfjc8lvable Interest on funds held on deposit is included when recewabte and the amount can be measured reliably by the Charity., this is normally upon nolthcalion of the interest paid or payable by the institution with whom the funds are deposited. 1.6 Expendlture Expenditiif8 is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party. fi is probable that a transfer of economic benofsts will be required in settlement and the amount of the obligation can be measured reliabty. Expenditure is classified by aclivily. The costs of each activty are made up of the total of direct costs and shared costs. including support cost$ involved in undertaking each activity- Direct Costs attribLrtable lo a single aolivily are allocated directly to that activity. Shared costs whKh contribute lo more than one activily and 5YPPOrt costs which are not attributable to a single activity are apportioned betsyeen those activities on a b8sis consistent with the use of resources. Expenditure on charitable activit￿S is incurred on directly undertaking the activities which further the CharIt￿S ofy'ectives. as well as any associated support costs. Grants payable is charged in the ye8r when the offer is made except in those cases where the offer is conditional. such grants being recognised as expenditure when the ￿nditionS allaching are fulfilled. Grants offered subject to condi(ions whicti have not been met at the year-end are noted as a commitment. bul not a￿rUed as expenditure. Support costs are those costs incurred directty in support of expenditure on the objects of the charity and include govemance costs. Page11 8ARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng pollcigs {contlntsed) 1.7 Investments Fixed asset investments are a form of financial instnjmenl and are initially recognised al their transaction cost anil subsequentty measured al fair vaiue al the Balance Sheet date, unless the value cannot be measured reliably in whrh case il 15 measured al cost less impairment. Investment gains and bsses, whether realised or unrealised, are combined and shown in the headin9 'Increasel{decreasel in value of investments. in the Slalement of Financial Activities incorporating Income arKI Expenditure &counL Investments in subsKliaries are valued at cost ￿sS proVis￿n for impaimienl. 1.8 Investment Property Investment propety is carried at la￿ value derived from the current maTket rents and investment property yElds for compaTable real estate, adjusted if necessary for any dffterence in the nature, location or condition of the specific asset. No depreciation is provided. Changes in the fair value are recognbsed in the Slal8menl of Financial Activit*s. 1.9 Debtors Trade and other debtors are recognised at the Sett￿ment amount after any trade discount offered. 1.10 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highty liquid investments with a short maturity of thfee months or less from the date of acquisition or opening of the deposit or simiiar 8ccount. 1.11 Llabllltles and provlsions Liabiif(ies are recognised when there is an obligation al the Balance Sheet dale as a result of a past event, it is probable that a transfer of economic benefft will be required in settlement. and th& amount of the settlement ean be estimated reliably. Liabilities are recognised at the amount that the Charity anticipate5 it will pay lo settle the debt or the amunt f( has re￿Ned as advanced payments for the gl￿d$ or services it must provide. Provisions are measured at the best estimate of th8 amounts required to settle the obligation. 1.12 Flnanclal Instrumonts The Charity onfy has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial inslrumenls are initkglty recogni8ed at ITansaclion value and subsequently measured al their settlement value with the exception of bank klans Wh￿tt are subsequenlty measured at amorti5ed cost using the effective interest method. 1.13 Taxation Barnel Recreational Trust is a registered charity and based on the adivities undertaken is nol liable for UK corporation tax. The charity was not VAT registered during the year and therefore all expenses are inclusive of any VAT which cannot be recovered. Page 12 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Income from donations and lega¢igS Unrestrleted Restrlctgd funds funds 2025 2025 Total funds 2025 Donalirjns 20 20 Vnro$tricted funds 2024 Total funds 2024 Donations 520 52Q Legacies 19.014 19,014 Invgstmgnt income Unrestricted funds 2025 Total funds 2025 Investment income Unrestrlcted funds 2024 Total funds 2024 Investment income Page 13 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 202S Analysls of expenditure by actlvitles Grants payable 2025 Support costs 202S Total fund$ 2025 Charitable actwity costs Grnnts payable 2024 Support costs 2024 Tot8: funds 2024 Charitable activty costs Analysiy of support costs Total funds Actlvltles 2025 Trustee insurance, LEI fee and support costs 841 Investment management fees 51,622 51.622 Independent examiners fees 3,700 3,700 Page 14 8ARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 Total funds 2024 Actlvltles 2024 Trustee insurance, LEI & support costs 1,659 1.659 Investment management fees 48,995 48,99S Independent examiners fees 3.500 3.500 Legal & Accounting advice fees 15,101 15,101 Analysls of Grants Unrestrlcted funds 2025 Total funds 2025 R¢ding for the Disabled 2,000 2,000 Sl Mary. the Virgin Church House Appeal 5.000 5,000 garnet Elizabethans Rugby Football Club 46,764 46.764 Monken Hadley Cricket Club 500 500 Junction Eight Athletic T￿k 500 500 Home Start. Watford 2.000 2,000 Painting Progress 1,288 1,266 Young Barnet Foundaltr)n 3.000 3,000 sara￿n$ Foundation 1.000 1,000 Page 15 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 202S Unre5trlcted Restricted funds funds 2024 2024 Total funds 2024 Riding for the Disabl 2,000 2.000 st Mary. thè Virgin Church House Appeal 1.000 1,000 Barnel Elizabethan5 Rugby Football Club 331,241 331,241 Macmillan Cancer Relief 750 750 Young Barnet Foundation 2.000 2,000 Monken Hadley Cricket Club 500 8,600 9.100 Parkinsons 500 500 Junction Eight Athlelic Track 500 500 Home Start, Watford 1,000 1,000 Cherry Lc*Jge Cancer Care 750 750 Isabel Hospice. Bamel soo 500 North London Hospice 500 500 Page 16 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 TTUStees' rgmungration During the year, no Trustees receNed any reMUnerat￿n or other benefts12024 - £NILI. During the year ended 5 April 2025. Trustee meeting expenses of £525 have been incurred12024- £6301. Net Galnsl{Lossesl on Investments 2025 2024 Realised gainslllosses} on investments 258,599 92,011 Unrealised gainsl{losses) on investments 118,235) 32.456 Flxed asset Investments Investments In subsidiary companies Llsted and other Investments Total Cost or valuatlon At 6 April 2024 8,241.861 8,241,863 Additions 14,982.211 4.645,892 Disposals 115.198.126) 14,360,319) Revaluations 276,835 276,835 AI S Apfil 2025 Net book value At S April 2025 8 044 181 8044 183 Al 5 April 2024 Page 17 ## **BARNET RECREATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 5 APRIL 2025** ## **Principal subsidiaries:** The following was a subsidiary undertaking of the Charity: ||**Name**|**Company number**|**Holding**|**Net assets**|**Profit/(loss)**| |---|---|---|---|---|---| ||Barnet RT Limited|15336071|100%|£2|£(5,948)| |**9.**|**Investment property**||||| ||||||**Long term**| ||||||**leasehold**| ||||||**investment**| ||||||**property**| ||||||**£**| ||**Valuation**||||| ||At 6 April 2024||||25,000| ||Additions||||-| ||Disposals||||(25,000)| ||At 5 April 2025||||-| A plot of land was transferred to Barnet RT Limited the subsidiary of the Barnet Recreational Trust for £25,000 during the year. The land will be developed by the subsidiary with all profits being transferred back to the charity. ## **10. Debtors** |**Due within one year**
Other debtors
Prepayments and accrued income
Tax recoverable|**2025**
**£**
89,144
24,727
356
|**2024**
**£**

56,474
19,291

317

76,082| |---|---|---| ||114,227|| Page 18 BARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2026 11. Credltors amounts duo Within one year 2025 2024 Accruals and deferred income 12. Statement of funds Statement of funds - current year Balance at 6 Apftl 2024 Gainsl Balance at {Losses} 5 Aprll 2025 Income Expondlture Unrestrlcted fund$ General Fund¥ 8455873￿ 118193 Restrlcted funds Total funds Statement of funds - prlor year Balance at 6 Aprll 2023 Gaingl Balance at {Lossgs1 5 Aprll 2024 Incomg Expondlture Unrestrtcted funds General Funds 15 166 455 873 Restricted funds Total funds Page 19 8ARNET RECREATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2025 13. Analysls of net assets between funds Analysls of net assets between funds- current year Unrestrleted Restrlcted funds funds 2025 2025 Total funds 2025 Fixed asset investments 8,044,183 8,044,183 Current asset8 PJ93,624 693.624 Credrtors due withln one year (24,790) 124,790) Total Analysls of net assets between funds- prlor year Unrestricted funds 2024 Total funds 2024 Fixed asset investments 8,241.863 8.241.863 Investment property 25,000 25,000 Current assets 224,323 224,323 Creditors due within one year Total 135.313) 135,3131 Page 20 BARNET RECREATIONAL TRUST IOTES TO THE FINANCIAL STATEMENTS roR THE YEAR ENDED 5 APRIL 2025 Analysls of cash and cash equlvalents 2025 202L Cash hand 579.397 148.241 Total ¢ash and ￿sh equlvalents Related party transactions irants totallinq £46.76412024 - £331.2411 were pledged to Bamet Elizabethans Rugby Fcolball Club LITnited during the year. a company in whth Robert Howell. a Tiustee. 15 Treasurer. ,4n amounl of £89.00012024- £22,5CKII was owed from Bamet RT Limited 8t th& year end, a subsidiary of the Charity. The amount is unsecured, interest free and repayable on demand. During the year the investrnenl property was transferred lo Barnet RT Limited at book value. The property is being develoDed by the subsidiary with the proffts arislng belng Iransferre(I back to th8 charity lo be used towards the charitable objeclives. t)ue to the infancy of Ihe development projecL it is unknown at this stage the amoun: of profil. rf any. will be transferred to the tharity. Page 21