## **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| ## **6. RESERVES**