## **King Georges Field Charity (Trustee - Ferndown Town Council) Charity No. 301136** ## **King George V Pavilion, Peter Grant Way, Ferndown, Dorset, BH22 9EN** Office: (01202) 892249 financialofficer@ferndown.gov.uk: Groundsmen: (01202) 897050 groundstaff@ferndown.gov.uk 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. ___________________________________________________________________ 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 ….………… 7 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 ….………… 8 ## **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 eleanorgreene@dothenumbers.uk Registered in England No. 7871759 Director: Eleanor S Greene