KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS 31 MARCH 2024 Charity Number 301136
KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Trustees annual report Independent examiner's report to the twslees Statement of financial activities Balance sheet Notes to the financial statements 7t08
KING GEORGE'S FIELD CHARITY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustee has pleasure in presenting Its report and the unaudited financial statements of the charity FOR THE YEAR ENDED 31 MARCH 2024 ADDRESS King George V Pavlllon. Peter Grant Way. Femdown, Dorset. BH22 9EN TRUSTEE Ferndown Town Council (Sole Trustee) presented by Its members at the date of the meeting CONTAcr Mrs Tsolazzo (Administratorto theTrusteel. The Barrington Centre, Penny5 Walk, Ferndown BH22 9TH EXAMINER Oo the Numbers Ltd, 37 Upper Brownhill Road, Southampton S016 5NG BANKERS National Westminster, 503 Ringwood Road, Ferrbdown, Dorset, BH22 9BL GOVERNANCE Conveyance dated 30th July 1953 resulting in Declaration of Trust dated ioth September 1956 a5 amended by Schemes date 12l- January 1997 and 7-. March 1997 and resolution dated 3151 May 2012 Registered as a Charity on 25 October 1962 All documents Grvoilablefrom the odministrotor upon request. OBJECTIVES The object of the Charity is the provision and malntenance of a PL¢blic recreation ground for the benefit of all persgns, without distinction of polttical, relibrious or other oplnlons wth the object of improving the ¢onditions 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 Klng George's Fields Foundation. The trustee believes that the charity meets the public benefit requlrements and has complied with the duty in sethon 4 of the 2011 Act. ACHIEVEMENTS Ferndown Town Council Contributes towards the improvement and maintenance of the fatilitiÈs by means of an annual grant. The amount Df this grant for the current year was £118,23112023 .. £118,231). Both the Charity and the Town Councll 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 chafity and its trustee are detailed on the Council website. SIGNED ON BEHALF OF THE TRUSTEES Trudy Sollazzo Administrator Cllr Terry Cordrey Chairman of the Trustee
KING GEORGE'S FIELD CHARITY INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts of the charity for the year ended 31 March 2024 whlch are set out on pages 4 to 7 RESPECTIVE RESPONSIBIUTIES OF TRUSTEES AND EXAM114ER The charity's trustees are responsible for the preparation of the accounts. The charlty's trusiees consider that an audit 15 not required for thls year under section 144121 of the Charthes Att 2011 (the 2011 Act) and that an independent examination 15 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 5ertion 14515Xbl of the 2011 Att: and to state whether parhcular matter5 have come to my attention. 8ASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in accordance with the general Directions glven by the Charity Commission. An examination includes a review of the accounting records kept by the chaiiLy and a comparison of the accounts presented with those records. It also includes consideratlon of any unusual items or disclosures In the accounts. and seekn.ng explananons from you as trustee5 con¢ernlng any such matters. The procedures undertaken do mt provide all the evidence that would be required in an audit and consequently no opinlon is given as to whether the accounts prèsent a 'true and fair view, and the report 15 Ilmlted to those matters set out in the statement below. INDEPENDENT EXAMINER'S STATEMENT In connertion wfith my examination, no matter ha5 Come to my attention: Illwhich give5 me reasonable cause to believe that irh any material respect the requirement%= to keep accounting records in accordance with secbon 130 of the 2011 Act,. and to prepare accounts which accord wtth the accounting record5 and tomply wlth the accounting
KING GEORGE'5 FIELD CHARrrY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 iJnrestsi¢ted Restrf¢red EndowmÈnt Total Funds FurK15 FuTras Fund5 2024 2023 INCOMING RESOURCES Donations and sundry income Income from events Grant- F¢indown Town Council Grants- other 4.567 350 118.231 2,812 125.960 4,567 350 118,231 2,812 125,960 3,872 I,ocK) 118,231 Voluntsry Income Dividends from investments Bank Interest 123,103 1.071 2,543 2,543 2,543 2,543 43,596 101,920 Investment Income 1,071 47,138 54.420 5,439 106,997 231,171 Sports fees Lettin8 income Eleetrlclty feed in tariff Charitable Activkiies TOTAL INCOMING RESOURCES 43.596 101.920 145,517 271.477 145,517 274.020 2.543 RESOURCES EXPENDED Grounds and hctusekeeping staff Admin recharge fee utilitie5 Iwater and elertricttyl Field maintenance Pavilion maintenance Tennls court maintenance Administration Insurance 137.973 -21,S(K> 45,362 35,636 3,229 5,995 12,854 13,lJ5 232,664 5.316 -88.764 410,097 3,235 -40.116 137,973 -21,500 45,362 35,636 3,229 5,995 12,854 13,115 232,664 5,316 48.764 40,097 3,235 40,116 121.6a2 22,706 24,970 43,275 2,915 11,618 16,578 243,664 3.691 1,5 21,529 3,803 30,523 Charitable activities Accountancy and payroll 5ervice5 Revaluation of assets previously expensed Depreciation Legal and professional fees Govemance ¢0sts TOTAL RESOURCES EXPENDED 192,548 192,548 274,187 NET INCOMINGI ioufGOINGI RESOURCES 78.929 2,543 81,472 -43,017 The notes on pages 7 to 8 form part ofthese financial statements.
KING GEORGE'S FIELD CHARrrY BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 FIXED ASSErs Tangible assets Long term deposits lendowment fvndl Investments (Èndowment fund) 2,6d4, 105,LX)2 144,059 2.893.129 2.595.901 104.958 144,059 2,844,918 CURRENT ASS Trade Debtors Cash at bank and Sn hand 34,829 135.275 170.104 30.641 114,370 145,011 CURRENT UABIUTIES Trade Creditors Accwals and other creditors 41,810 976 42.786 50.165 789 50,954 NET CURRENT Assrrs 127,318 94,057 NEf ASSErs 3,020,447 2,938,975 FUNDS Endowment fund5 Restricted income funds Fixed asset revaluation Unrestricted income funds TOTAL FUNDS 263.444 4,641 1.069,525 1,682.837 3,020,447 258,200 4,641 1,069,525 1,606,609 2,938,975 These financial statements wère approved on CllrTerry Cordrey Chairman ofthe Trustee The notes on page5 7 to 8 form part of these financial statements.
KING GEORGE'S FIELD CHARrrY NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES Basis of accounti The financial Statements have been prepared under the historical cost Convenron, except for investment5 which are included at market value and the revaluation of certaln fixed assets, and in accordance with applicable United Kingdom accounting standards and The requirements of the Statement of Recommended PctiCe 'Accounting arKI Reporbng by Charlt(es' issued in March 20D5 ISORP 20051. Rxed a55ets All lixed assets are initially recorded at cost. The trustee ha5 inventoried all assets in the year arid reeWed the depreciation pDlicie5 applied to all assets. The charges for the current year include the adjustments to the updated approach. A detailed schedule 15 held by the administrator. Freehold land and buildings Improvemeats to community assèts Tools and equipment Vehicle5 and rnotorised equipmènt not depreciated 15% feduung balancè 20 % reducing balance 25% reduclng balance Assets donated io the charity and those whith are fully tlepreclated are deemed to have residual value of £1 Penslon ¢05tS The d)arlty operates the LGPS for those employees whose service commenced before 2013 All other eligible employee5 have been Auto Enrolled into Creattvé Benèfit Solthions Ltd. 2, EMPLOYEES The average number of employee5 durin8 the year, was a5 follows: No employee reW¢d remuneratr.on of more than £50. during the year12023 NIII. 3. TRUSTEES No trustee received any remunerats.on during the current or previous year. No trustee or other person related to the charity had any personal interest in any cont•rt or transaction eritered into by the charity during the current or previou5 year. No expenses were reimbursed to any individual trustee during the current or previous year. 2024 2023
KING GEORGE'S FIELD CHARITY NOTES TOTHE FINANCIAL STATEMEMrs FOR THE YEAR ENDED 31 MARCH 2024 Freehold Communtty Property A$ts 4. FIXED ASSE Tools Vehicles Totsl 2023 COST Bmught forward at 01.04.23 Revalijation in year Addiuons Disposals Carried forward as at 31.03.24 2,481,865 379,632 20,(K)3 40.772 2,922,271 2.922.151 47.141 41,123 88,264 120 2.481,865 379,632 67,144 81,895 3,DIO,535 2.922,271 DEPRECIATION Brought forward at 01.04.23 Charge forthe year Dlsposals Carried forv4ard as at 31.03.24 277.524 15,316 14.418 13,379 34.428 11,402 326,370 4D,097 304,841 21,529 292,840 27,797 45,830 366.467 326.370 NET 8OOKVALUE Brought forward at 01.04.23 2,481,865 102,108 5.585 6,344 2,595.901 2,617,310 Carried forward a5 at 31.03.24 2.481,865 86.792 39.347 36,065 2,644,068 2,595,901 Unreallsed UnrealSsed 8aSn 1110551 Mark2t value Historfccost 8ain blfwd for year 3LOI.24 5. INVESTMENTS Part of the endowrnent fund 15 invested as follows CAF Equity Fund CCiA PfDperty deposit fund CAF Fixed lThterest Fknnd TOTAL 19,037 53.333 71.276 143.646 12.159 31,196 53,333 59,533 144,062 -11.743 416 The balance ol the endtswment fvnd is held in cash 5avin&5 account5 Wlth rnaturity between I day and I year OI.r.23 bfvd clfwd 31.03.24 6. RESERVES 4me Expenditure TTan5fers Endowment Funds (net of Solar p3ndsl InvE5tment Revaluation reserve Restritted Income Fund= Wood51 Bandstand Bandstand Revaluation of land and buildings March 2021 General fund- KGV building General fund Isurplus on activities) 258,2Th) -1.563 4.146 495 1,069,525 1.570,829 37,343 2,938,975 258,200 979 4,146 495 0 I,(9,525 1,570,829 116,273 0 3,020,447 2,543 271,477 274,020 192,548 192,548
Klng Georges Fièld Ftrndown Ye3r 31.03.24 DR 0 31.03.23 DR 31103122 31.03.21 DR cft CR CR CR INCOME Pavlllon General Room Hire DCC RegIStrnrad1n8 St3ndards DCC Land Rental Registrars recharges mislIaneouS Income Kiosk Electrl¢lty Feed In Payments 26,598 14.086 50.745 2.723 20.802 20,628 1,236 4.653 7.500 5,439 62,981 3,198 6,618 20.628 2.906 13,918 3,51 4.285 55.053 153 11,959 20,628 6,207 880 5,391 5,203 4,120 43,947 105,663 Fleld Football Tennis pay as you 80 Crlcket Mlsc Income Tennis Club Bowls Club 15.382 4,902 679 1.175 9.029 13,605 44.771 15,962 7.500 600 7,449 1516 480 6,602 1.339 1.750 7.420 12.368 48,888 4,229 9,945 38.236 2,890 5,500 18,836 Flnanclal Interest and divldends FTC Grant 5.355 118,231 123.586 274,020 1,071 118.231 119.302 231,171 61 139,760 139,821 233,110 4,185 139,948 144,133 2C6,916 TOTAL INCOME (PENDrruRE Pavlllon Cleaning and Housekeeping ElectricSty and utilities Water/Sewage COVID Insurance 20,994 32,336 4,920 19,723 24.749 34,571 17.266 5,353 2.208 17.146 1.127 115 77.786 12,743 6.877 5,464 1,809 11,604 1,431 256 40,184 13,115 8,105 2.269 8L740 16.578 221 2.915 64,186 Re¢y¢ling waste charges Flehj Grounds Staff Football Bowls Tennis Cricket General Fuel Health & Safety HR Contractor General waste charges 116,979 12.257 12.432 5.733 1,094 6,374 3,940 4.791 3,705 960 168.265 101.879 12,615 21.385 6,035 596 124,6% 5.614 5,081 7,811 1,023 431 1,401 1.544 1,930 2,545 152,076 116,888 3,798 2.738 1.192 621 3,991 2.149 2,807 550 2.908 137,642 2.615 2,691 150,461 Flnanclal Accountancy Fees Legal & Professional Fees General Support General Admin cosls Depre¢l8tion 1.611 3.235 -21,500 906 6,959 48,667 -57,456 192.548 0.00 i.othj 4,037 2,S83 1.000 3,675 983 443 138 27,094 33,334 211,160 3,803 22.706 8.307 21.529 59,541 274.187 1,335 25,733 34.688 264,550 TOTAL EXPENDITURE Overall Surplus / IDefititl 81,472 43.017 -31,441 4,243