2023-03-31-accounts

King Georges Field Charity (Trustee - Ferndown Town Council) Charity No. 301136

King George V Pavilion, Peter Grant Way, Ferndown, Dorset, BH22 9EN

Office: [phone] [e-mail]: Groundsmen: [phone] [e-mail]

Minutes of the meeting of the Sole Trustee of the King George V Field Charity held on Monday 24 July 2023 in the Regency Room, KGV Pavilion, Peter Grant Way, Ferndown, BH22 9EN.

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In attendance: Councillors: J Baxter, T Cordery, P Leach, J Robinson, K Stamp, M Stickley, N Wellstead, M White and Cllr Wilson.

Officers: L Bishopp (Administrator for KGV), M Follan (Administration Manager)

KGVMC/2023/021 Apologies Apologies were received from Cllrs Fleetham, Lugg, Miller, Parrott, Parkes, and Phillips. Cllr Leach proposed to accept apologies for absence; seconded by Cllr Robinson and agreed by all. Resolved: apologies for absence were accepted. KGVMC/2023/022 Declarations of interest and dispensations None KGVMC/2023/023 Minutes of the Sole Trustee meeting on 24 January 2023 Defer until next meeting, unfortunately only one page was available. KGVMC/2023/024 Minutes of KGV Management Committees The minutes from 1 and 28 February, 9 May, 19 June and July 2023 were noted. KGVMC/2023/025 Financial Matters i) The budget comparison report from 1 April 2023 to 30 June 2023 was noted. ii) The Charity’s reserves were noted. iii) The Internal Auditors report and end of year accounts and balance for 1 April 2022 to 31 March 2023 were noted. v) The trustees 2023 Annual report and accounts return to the Charity Commission were noted. Members thanked the RFO for all the hard work on the audit. The Administration Manager reminded the trustees to contact the Responsible Finance Officer or herself, in advance of the

Minutes of the Sole Trustee King George V Field Charity (Ferndown) Meeting 24 July 2023 Signed as a true and accurate record …………………………. Chairman, King George V Charity on ….…………

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meeting, should they have any queries on financial matters. This will enable information to be provided to members. KGVMC/2023/026 Correspondence There was no correspondence. KGVMC/2023/027 Close of meeting and date of next Sole Trustee meeting The date of the next meeting 23 January 2024. The meeting closed at 7.16pm.

Minutes of the Sole Trustee King George V Field Charity (Ferndown) Meeting 24 July 2023 Signed as a true and accurate record …………………………. Chairman, King George V Charity on ….…………

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KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS 31 MARCH 2023

Charity Number 301136

KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS

CONTENTS
Trustees annual report	3
Independent examiner's report to the trustees	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	7 to 8

KING GEORGE'S FIELD CHARITY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustee has pleasure in presenting its report and the unaudited financial statements of the charity FOR THE YEAR ENDED 31 MARCH 2023

ADDRESS

King George V Pavilion, Peter Grant Way, Ferndown, Dorset, BH22 9EN

TRUSTEE

Ferndown Town Council (Sole Trustee)

represented by its members at the date of the meeting

CONTACT

Mrs T Solazzo (Administrator to the Trustee), The Barrington Centre, Pennys Walk, Ferndown BH22 9TH

EXAMINER

Do the Numbers Ltd, 37 Upper Brownhill Road, Southampton SO16 5NG

BANKERS

National Westminster, 503 Ringwood Road, Ferndown, Dorset, BH22 9BL

GOVERNANCE

Conveyance dated 30[th] July 1953 resulting in Declaration of Trust dated 10[th] September 1956

as amended by Schemes date 12[th] January 1997 and 7[th] March 1997 and resolution dated 31[st] May 2012 Registered as a Charity on 25[th] October 1962

All documents available from the administrator upon request.

OBJECTIVES

The object of the Charity is the provision and maintenance of a public recreation ground for the benefit of all persons, without distinction of political, religious or other opinions with the object of improving the conditions of life for the said persons.

The land shall be held upon trust for use for the object of the Charity.

The land shall be maintained as a permanent memorial to King George V under the provisions of the King George's Fields Foundation.

The trustee believes that the charity meets the public benefit requirements and has complied with the duty in section 4 of the 2011 Act.

ACHIEVEMENTS

Ferndown Town Council contributes towards the improvement and maintenance of the facilities by means of an annual grant. The amount of this grant for the current year was £118,231 (2022 : £118,260). Both the Charity and the Town Council trustee clearly identify the cost / value of works carried out by charity staff to maintain council assets and facilities, separate from the grant.

Activities and objectives of both the charity and its trustee are detailed on the Council website.

SIGNED ON BEHALF OF THE TRUSTEES

Trudy Sollazzo Cllr Krissy Stamp Administrator Chairman of the Trustee

KING GEORGE'S FIELD CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 4 to 7

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to: examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5Xb) of the 2011 Act; and to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention: (1)which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Do the Numbers Ltd, 37 Upper Brownhill Road, Southampton SO16 5NG

11[th] July 2023

KING GEORGE'S FIELD CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Note INCOMING RESOURCES Donations and sundry income 1 Income from events Grant – Ferndown Town Council Grants – other Voluntary income Dividends from investments Bank interest Investment income Sports fees Letting income Electricity feed in tariff Charitable Activities TOTAL INCOMING RESOURCES RESOURCES EXPENDED Grounds and housekeeping staff 2 Admin recharge fee Utilities (water and electricity) Field maintenance Pavilion maintenance Tennis court maintenance Administration Insurance Charitable activities Accountancy and payroll services Loss on disposal of fixed assets Depreciation Legal and professional fees Governance costs TOTAL RESOURCES EXPENDED NET INCOMING/ (OUTGOING) RESOURCES	2022 £ £ £ £ £ 3,872 3,872 13,024 1,000 1,000 894 118,231 118,231 118,260 0 21,500 Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2023
	123,103 123,103 153,678
	1071 0 1,071 20 0 0 41
	1,071 0 1,071 61
	47,138 47,138 38,236 54,420 54,420 36,850 5,439 5,439 4,285
	106,997 106,997 79,371
	231,171 0 231,171 233,110
	0 121,602 121,602 103,196 22,706 22,706 21,500 24,970 24,970 22,619 43,275 43,275 33,811 2,915 2,915 18,976 0 0 7,811 11,618 11,618 8,721 16,578 16,578 17,146
	243,664 243,664 233,780
	3,691 3,691 1,000 1,500 1,500 0 21,529 21,529 25,733 3,803 3,803 4,037
	30,523 0 0 30,523 30,770
	274,187 0 0 274,187 264,550
	0 0.00
	-43,017 0 0 -43,017 -31,441

The notes on pages 7 to 8 form part of these financial statements.

KING GEORGE'S FIELD CHARITY BALANCE SHEET AS AT 31 MARCH 2023

Note FIXED ASSETS Tangible assets 4 Long term deposits (endowment fund) Investments (endowment fund) 5 CURRENT ASSETS Trade Debtors Cash at bank and in hand CURRENT LIABILITIES Trade Creditors Accruals and other creditors NET CURRENT ASSETS NET ASSETS FUNDS Endowment funds 6 Restricted income funds Fixed asset revaluation Unrestricted income funds TOTAL FUNDS	2023 £ £ 2,595,901 104,958 144,059 2,844,918 30,641 114,370 145,011 50,165 789 50,954 94,057 2,938,975 258,200 4,641 1,069,525 1,606,609 2,938,975 0	2022 £ £ 2,617,310 104,951 150,751 2,873,013 27,899 93,753 121,651 5,366 500 5,866 115,786 2,988,799 263,444 4,641 1,069,525 1,651,189 2,988,799 0

These financial statements were approved on

Cllr Krissy Stamp Chairman of the Trustee

The notes on pages 7 to 8 form part of these financial statements.

KING GEORGE'S FIELD CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets, and in accordance with applicable United Kingdom accounting standards and The requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005).

Fixed assets

All fixed assets are initially recorded at cost.

The trustee has inventoried all assets in the year and reviewed the depreciation policies applied to all assets. The charges for the current year include the adjustments to the updated approach. A detailed schedule is held by the administrator.

Freehold land and buildings not depreciated Improvements to community assets 15% reducing balance Tools and equipment 20 % reducing balance Vehicles and motorised equipment 25% reducing balance

Assets donated to the charity and those which are fully depreciated are deemed to have a residual value of £1

Pension costs

The charity operates the LGPS for those employees whose service commenced before 2013 All other eligible employees have been Auto Enrolled into Creative Benefit Solutions Ltd.

2. EMPLOYEES

2023 2022 The average number of employees during the year, was as follows: 4 4 No employee received remuneration of more than £50,000 during the year (2022 Nil).

3. TRUSTEES

No trustee received any remuneration during the current or previous year.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the current or previous year.

No expenses were reimbursed to any individual trustee during the current or previous year.

KING GEORGE'S FIELD CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

	Freehold	Community
4. FIXED ASSETS	Property	Assets	Tools	Vehicles	Total	2022
	£	£	£	£	£	£
COST
Brought forward at 01.04.22	2,481,865	379,632	19,883	40,772	2,922,151	2,903,298
Revaluation in year	0				0	0
Additions		0	120	0	120	18,854
Disposals		0	0		0	0
Carried forward as at 31.03.23	2,481,865	379,632	20,003	40,772	2,922,271	2,922,151
DEPRECIATION
Brought forward at 01.04.22	0	259,505	13,022	32,314	304,841	279,108
Charge for the year		18,019	1,396	2,114	21,529	25,733
Disposals						0
Carried forward as at 31.03.23	0	277,524	14,418	34,428	326,370	304,841
NET BOOK VALUE
Brought forward at 01.04.22	2,481,865	120,127	6,861	8,458	2,617,310	2,624,190
Carried forward as at 31.03.23	2,481,865	102,108	5,585	6,344	2,595,901	2,617,310
				Unrealised
			Unrealised	gain / (loss)	Market value
5. INVESTMENTS		Historic cost	gain b/fwd	for year	31.03.23
Part of the endowment fund is invested as follows		£	£	£	£
CAF Equity Fund		19,037	12,045	114	31,196
CCLA Property deposit fund		53,333			53,333
CAF Fixed Interest Fund		71,276	-4,940	-6,807	59,529
TOTAL		143,646	7,105	-6,693	144,058

The balance of the endowment fund is held in cash savings accounts with maturity between 1 day and 1 year

6. RESERVES Endowment Funds (net of Solar panels) Investment Revaluation reserve Restricted Income Fund : Woods / Bandstand Bandstand Revaluation of land and buildings March 2021 General fund – KGV building General fund (surplus on activities)	Income Expenditure Transfers £ £ £ £ £ 258,200 0 258,200 5,244 0 6,807 -1,563 4,146 4,146 495 495 1,069,525 0 1,069,525 1,570,829 1,570,829 80,360 231,171 274,187 0 37,343 01.04.22 b/fwd c/fwd 31.03.23
	2,988,799 231,171 280,994 0 2,938,975

Do the Numbers Limited 37 Upper Brownhill Road Southampton, SO16 5NG 023 8077 2341 11[th] July 2023

Trudy Solazzo, Administrator Liz Bishopp, Proper Officer King George's Field Charity King George V Pavilion, Peter Grant Way,Ferndown, Dorset, BH22 9EN

Dear Trudy,

Further to my visits today and earlier in the year, please find enclosed the finalised accounts for submission to the Charity Commission for the year ended 31[st] March 2023.

Please also find enclosed an updated set of activity accounts showing the pattern over the last five years.

I found the records and systems of the Charity to be in extremely good order. The Rialtas software makes reporting much clearer and simpler. Journals to agree the ledger to the filed accounts are enclosed.

Bank Account:

The Charity holds £53,955.60 at Royal Bank of Scotland to which the bank is still denying access. This is completely unacceptable and should be raised with the Ombudsman, the Charity Commission and the bank to allow the funds to be transferred to the current account.

LGPS fund

The Charity now has one employee remaining within the Dorset LGPS scheme. This presents a possible contingent liability for the exit charge. The same issue faces the trustee and the members thereof should take the advice of officers and appropriate specialists to mitigate the financial risk as well as any limitations on recruitment.

Please find enclosed my invoice for the balance of the agreed fee. If you require any further information, please do not hesitate to contact me.

Regards

Eleanor S Greene, for Do the Numbers Ltd

[e-mail]

Registered in England No. 7871759

Director: Eleanor S Greene