KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS 31 MARCH 2025
Charity Number 301136
KING GEORGE'S FIELD CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
| CONTENTS | |
|---|---|
| Trustees annual report | 3 |
| Independent examiner's report to the trustees | 4 |
| Statement of fnancial ac�vi�es | 5 |
| Balance sheet | 6 |
| Notes to the fnancial statements | 7 to 8 |
KING GEORGE'S FIELD CHARITY TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025
FOR THE YEAR ENDED 31 MARCH 2025
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 mee�ng
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
Na�onal Westminster
GOVERNANCE
Conveyance dated 30[th] July 1953 resul�ng in Declara�on of Trust dated 10[th] September 1956
as amended by Schemes date 12[th] January 1997 and 7[th] March 1997 and resolu�on dated 31[st] May 2012 Registered as a Charity on 25[th] October 1962
All documents available from the administrator upon request.
OBJECTIVES
all persons, without dis�nc�on of poli�cal, religious or other opinions with the object of improving the condi�ons 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 Founda�on.
in sec�on 4 of the 2011 Act.
ACHIEVEMENTS
Ferndown Town Council contributes towards the improvement and maintenance of the facili�es by means of an annual grant. The amount of this grant for the current year was £118,232 (2024 : £118,231). Both the Charity and the Town Council trustee clearly iden�fy the cost / value of works carried out by charity staff to maintain council assets and facili�es, separate from the grant.
Ac�vi�es and objec�ves of both the charity and its trustee are detailed on the Council website.
SIGNED ON BEHALF OF THE TRUSTEES
Trudy Sollazzo Cllr Lawrence Wilson Administrator Chairman of the Trustee
KING GEORGE'S FIELD CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 4 to 7
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees are responsible for the prepara�on of the accounts. The charity's trustees consider that an audit is not required for this year under sec�on 144(2) of the Chari�es Act 2011 (the 2011 Act) and that an independent examina�on is needed.
It is my responsibility to: examine the accounts under sec�on 145 of the 2011 Act; to follow the procedures laid down in the general Direc�ons given by the Charity Commission under sec�on 145(5Xb) of the 2011 Act; and to state whether par�cular ma�ers have come to my a�en�on.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examina�on was carried out in accordance with the general Direc�ons given by the Charity Commission. An examina�on includes a review of the accoun�ng records kept by the charity and a comparison of the accounts presented with those records. It also includes considera�on of any unusual items or disclosures in the accounts, and seeking explana�ons from you as trustees concerning any such ma�ers. 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 ma�ers set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connec�on with my examina�on, no ma�er has come to my a�en�on: (1)which gives me reasonable cause to believe that in any material respect the requirements: to keep accoun�ng records in accordance with sec�on 130 of the 2011 Act; and
to prepare accounts which accord with the accoun�ng records and comply with the accoun�ng requirements of the 2011 Act have not been met; or
(2) to which, in my opinion, a�en�on 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
7[th] July 2025
KING GEORGE'S FIELD CHARITY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025
| Note INCOMING RESOURCES Dona�ons and sundry income 1 Income from events Grant – Ferndown Town Council Grants – other Voluntary income Dividends from investments Bank interest Investment income Sports fees Le�ng income Electricity feed in tarif Charitable Ac�vi�es TOTAL INCOMING RESOURCES RESOURCES EXPENDED Grounds and housekeeping staf 2 Admin recharge fee U�li�es (water and electricity) Field maintenance Pavilion maintenance Tennis court maintenance Administra�on Insurance Charitable ac�vi�es Accountancy and payroll services Revalua�on of assets previously expensed Loss on disposal of investments Deprecia�on Legal and professional fees Governance costs TOTAL RESOURCES EXPENDED NET INCOMING/ (OUTGOING) RESOURCES |
2024 £ £ £ £ £ 10,000 10,000 4,567 6,489 6,489 350 118,232 118,232 118,231 1,673 1,673 2,812 Unrestricted Funds Restricted Funds Endowment Funds Total Funds 2025 |
|---|---|
| 136,394 136,394 125,960 |
|
| 8,998 0 8,998 0 0 389 389 2,543 |
|
| 8,998 389 9,387 2,543 |
|
| 62,503 62,503 43,596 78,175 78,175 101,920 2,172 2,172 0 |
|
| 142,849 142,849 145,517 |
|
| 288,241 389 288,630 274,020 |
|
| 0.0001 144,137 144,137 137,973 -925 -925 -21,500 29,200 29,200 45,362 20,957 20,957 35,636 21,457 21,457 3,229 6,196 6,196 5,995 18,935 18,935 12,854 7,790 7,790 13,115 |
|
| 247,748 247,748 232,664 |
|
| 2,632 2,632 5,316 0 0 -88,764 6,807 6,807 0 30,106 30,106 40,097 9,528 9,528 3,235 |
|
| 49,073 0 0 49,073 -40,116 |
|
| 296,821 0 0 296,821 192,548 |
|
| 0 | |
| -8,580 0 389 -8,191 81,472 |
KING GEORGE'S FIELD CHARITY BALANCE SHEET AS AT 31 MARCH 2025
| 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 revalua�on Unrestricted income funds TOTAL FUNDS |
2025 £ £ 2,613,962 105,407 150,308 2,869,678 6,754 155,976 162,730 7,325 5,900 13,225 149,505 3,019,183 263,444 4,641 1,069,525 1,681,573 3,019,183 0 |
2024 £ £ 2,644,068 105,002 144,059 2,893,129 34,829 135,275 170,104 41,810 976 42,786 127,318 3,020,447 263,444 4,641 1,069,525 1,682,837 3,020,447 0 |
2024 £ £ 2,644,068 105,002 144,059 2,893,129 34,829 135,275 170,104 41,810 976 42,786 127,318 3,020,447 263,444 4,641 1,069,525 1,682,837 3,020,447 0 |
|---|---|---|---|
| 127,318 | |||
| 3,020,447 | |||
| 263,444 4,641 1,069,525 1,682,837 |
|||
| 3,020,447 | |||
| 0 |
Cllr Lawrence Wilson Chairman of the Trustee
KING GEORGE'S FIELD CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of accoun�ng
investments which are included at market value and the revalua�on of certain fixed assets, and in accordance with applicable United Kingdom accoun�ng standards and The requirements of the Statement of Recommended Prac�ce 'Accoun�ng and Repor�ng by Chari�es' issued in March 2005 (SORP 2005).
Fixed assets
The trustee has inventoried all assets in the year and reviewed the deprecia�on 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
Since August 2024 the charity operates the LGPS for all employees.
2. EMPLOYEES
2025 2024 The average number of employees during the year, was as follows: 4 4 No employee received remunera�on of more than £50,000 during the year (2024 Nil).
3. TRUSTEES
No trustee received any remunera�on during the current or previous year.
No trustee or other person related to the charity had any personal interest in any contract or transac�on 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 2025
| 4. | FIXED ASSETS | Freehold Property |
Community Assets |
Tools | Vehicles | Total | 2024 | |
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | |||
| COST | ||||||||
| Brought forward at 01.04.24 | 2,481,865 | 379,632 | 67,144 | 81,895 | 3,010,535 | 2,922,271 | ||
| Addi�ons | 0 | 0 | 0 | 0 | 88,264 | |||
| Disposals | 0 | 0 | 0 | 0 | ||||
| Carried forward as at 31.03.25 | 2,481,865 | 379,632 | 67,144 | 81,895 | 3,010,535 | 3,010,535 | ||
| DEPRECIATION | ||||||||
| Brought forward at 01.04.24 | 0 | 292,840 | 27,797 | 45,830 | 366,467 | 326,370 | ||
| Charge for the year | 13,019 | 7,061 | 10,026 | 30,106 | 40,097 | |||
| Disposals | 0 | |||||||
| Carried forward as at 31.03.25 | 0 | 305,859 | 34,858 | 55,856 | 396,573 | 366,467 | ||
| NET BOOK VALUE | ||||||||
| Brought forward at 01.04.24 | 2,481,865 | 86,792 | 39,347 | 36,065 | 2,644,068 | 3,248,641 | ||
| Carried forward as at 31.03.25 | 2,481,865 | 73,773 | 32,286 | 26,039 | 2,613,962 | 2,644,068 | ||
| Realised | ||||||||
| Unrealised | gain / (loss) | Market value | ||||||
| 5. | INVESTMENTS | Historic cost | gain b/fwd | Sale in year | in year | 31.03.25 | ||
| Part of the endowment fund is invested as follows | £ | £ | £ | £ | ||||
| CAF Equity Fund – sold in year | 19,037 | -31,196 | 12159 | 0 | ||||
| CCLA Property deposit fund | 53,722 | 53,722 | ||||||
| CAF Fixed Interest Fund – sold in year | 71,276 | -59,530 | -11746 | 0 | ||||
| TOTAL | 144,035 | 0 | -90,726 | 413 | 53,723 |
The balance of the endowment fund is held in cash savings accounts with maturity between 1 day and 1 year
| ES Endowment Funds (net of Solar panels) Investment Revalua�on reserve Restricted Income Fund : Woods / Bandstand Bandstand EMR – Machinery replacement EMR – tree works Revalua�on of land and buildings March 2021 General fund – KGV building General fund (surplus on ac�vi�es) |
Income Expenditure Transfers £ £ £ £ £ 258,200 0 258,200 979 0 0 -979 0 4,146 4,146 495 495 0 26,338 26,338 0 5,000 5,000 1,069,525 0 1,069,525 1,570,829 1,570,829 116,273 288,241 296,821 -23,043 84,650 01.04.24 b/fwd c/fwd 31.03.25 |
|---|---|
| 3,020,447 288,241 296,821 7,316 3,019,183 |