Charlty Rogigtratlon No. 301569
LYDNEY RECREATION TRUST
ANNUAL REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

LYDNEY RECREATION TRUST
CONTENTS
Page
Tntstees. rep)rt
Independent examlnerf$ report
Statement of finan¢ial aCtiV￿eS
Balance sheet
Statement of cash
Notes to the financ4al statements
6-13

LYDNEY RECREATION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Truste08
Lydney TO5￿ Council
Charlty nUM￿r
301569
Addre
ctaremont Hwse
High Street
Lydney
Gloucestershire
GL15 5DX
Indep•ndent •xamln¢r
stephen HLwnphries,
Grrffilhs Marshall
20 Neweme Street
Lydngy
GL15 S

LYDNEY RECREATION TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and finanaal statements for the year ended 31 Mard12024.
The accounts have been prepared in acwrdance with the a¢¢ounling policies set out in nole 1 to the a￿UnIS
and comply with the charity's governing document. th8 Charities Acl 2011 and the Statement of Recommended
Practice. "Accounting and Reporting by Charities. {applicable to charities prepamg their accounts in accordance
with the FRS1021.
ObJ•ctlv8s and actlvlties
The objectives of the charity as sel out In Its goveming document are the provision and mainten8nce of playing
elds, and other ￿creational premises providing public benefit through healthful and enjoyable recreational
actNi118S.
The trustees. have com￿led with tsir duty lo have regard lo the guidance on Public Benefrt publlshed by thtr
Charity Commission In exerasing th￿r powers and duties.
The trustees have paid due regard lo g￿dance is8￿￿ by the Charity CommissKJn In declding what a￿V￿e$ the
tharrty should undertake.
Achlevements and pgrft>rrnance
The charity has continuèd its work in maintaining Lydney RecreatiLin GrourKI in fijrtheranca of Publk Benefrt. A
drainage scheme has been wt in place across all the sporting prtches.
Flnancial revlew
The trustees believe that the charty has adequate reseNes lo flnance its •¢bvilies for the immethate future.
11 is the policy of the charity that unrestri¢ted fvnds which have not been designated for a specffi¢ use slK)uld be
maintsined at a level sufficient to 8nsure that, in the event of a significant drop in funding, the charity's current
activrties can be cLJnlinued ￿lIe considerakn.on is given to ways in which addit￿al fvnds may be ralsed. This
level of resgrves ha$ been maintsined throughoLrt the year. No funds are in defiat.
The trustees has assessed the major risks lo whlch the charity is exposed, are satisfied that systems are in
place to mib'gate exp(ISLKe to the major ri$k$.
The plans for future periods are lo conlinue the charity'8 existing work.
Slructiirei govemance and managemont
The eh8rity was 8stablished by a charilable trust deed on 3 April 1946 and an order date(16 June 1968.
Th8 Iruslees, vtho served during the year wgre..
Lydney Town Council
No oth¢r Iruslees wll t* f8cruited or appointed.
The trustees, rew1 was authorlsed by the Trust Serjetary a￿1 signed ￿ behalf of the TNst.
Trust se¢￿tsry
Dated= 29 July 2024

LYDNEY RECREATION TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LYDNEY RECREATION TRUST
I report to the trustees on my examination of the financial statements of Lydney Recreat*)n Trust (the tharty) for the
year ended 31 March 2024.
Responslbllltles and b•g1s of report
As the trustees of the charity you are responsible for the preparation of the fin8nckql Statements in accordance with
the requirements of the Ch8riti8sAct 2011 (the 2011 Act).
I repjrt in respecl of my examination of the Gharity's financial statements carried out under sedon 145 of the 2011
Act. In carrying out my examination I have follfftd all the applK•ble Dlrectlons given by the Charity Commission
under section 1451Sllbl of the 2011 Act.
Independent examlner's ststsmant
I have ￿mpleted my examination. l ¢onfim) that no matters have come to my attention In conngction wth the
examinats'on givirE me cause lo believe that In any materiol r8speGt'.
a¢counting records were not kept in respect of the charity as required by sectlon 130 of Ihe 2011 A¢t', or
the financial statements do not accord with those records,. or
the fina￿181 statement8 do not ¢omply whh the applicable requirements concerning the form and e4Jntent of
accounts set out In the Charities (A￿ftts and Reports) Regulatie￿$ 2008 other than any requirement Ihat the
accounts gve a true and fair view which is not a matter considered as part of an independent examinatlcffl.
I have no concerns and have come across other matters in ￿nne￿on ￿th the exarnin8lion to which attention
should be dfawn in this report in order to enable a proper understanding of the financial statements to be reached.
Stephen Humphrtes
Griffilhs Marshall
20 Newerne Street
Lydnay
Gloucestershire
GL15 5RA
Dated.. 30 August 2024

LYDNEY RECREATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITUREACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unr•stricted Unrestrlcted
funds
funds
2024
2023
Notes
Incom• from:
Donations and legades
Charitable activities
Investmanls
100,376
26,925
1.833
59,315
24,582
Total Income
129,134
84.283
Expenditure on:
Charitable activities
121,999
102,250
Ti)tal expendilure
121,999
102,250
Nèt Inc¢mellexpondlturo1 and movement in fvnds
7.135
117,96n
Reconclllatlon of funds:
Fund balances 811 April 2023
322,211
340.178
Fund balancès at 31 March 2024
329,346
322,211
All incorne and expenditure is unrestricted, and derives from continuing 8ctivities.

LYDNEY RECREATION TRUST
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Flxod assets
Tangible assets
11
118,546
101,275
Current assets
Debtors
Cash at bank and In hand
12
14,560
197,560
10,289
216.233
212,120
226.522
Credltors.. amounts falling due wlthln
one year
13
(1,320)
15.586)
Nèt current assets
210,800
220.936
Total a5$ets1oM curront Ilabllities
329,346
322,211
Net assets excludlng penslon liability
329,346
322.211
The funds of the charlty
Unresin'cled fvnds- general
Designated fiJnds
214,358
114,988
188,373
133,838
329,346
322,211
The finanaal statements were approved by tha trustees on 29 July 2024
Lydney Town Council
Trustee

LYDNEY RECREATION TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
N¢t•s
Cash flows from operating actlvltles
Cash generoled from operabor
16
19.951
5,956
Investlng actl¥ttl•s
Purchase of tangible fixed assets
Investment income received
140,4571
1,833
Net cash lused inllgenernted from
Investlng aetivltles
{38,624)
Not cash usod in flnanclng actlvttlos
Ngt Id8crnas•Vincr•a$8 In cash and cash
equivalents
(18.8731
6,342
Cash and cash equlvalenls at beginning of year
216,233
209,891
Cash and ¢ash •quiv•lents at end of year
197,560
216.233

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
AGGounting pollcles
Charfty Infomiatlon
Lydney Recreation Trust is a charitable tru$l.
1.1 Accounting conventlon
Thg finanaal statements have been prepared In accordance with the charitys Igoveming documentl, the
Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.
C'FRS 102") and the Charities SORP "Accounb"ng and Reporting by Charities.. Ststement of Recommenéed
Praelice applicable to charities preparing their accounts in aCCord￿ce with the Financial Rep)rting Standard
applicable in the UK and Republic of Ireland IFRS 1021" leffective 1 January 20191. The tharity is a Publi
Benefit Entity as defined by FRS 102.
The ¥CLounts are prepa￿d in stedlng, whth is the functional currency of the charity.
Th& acGounl$ have been prepared under the historical cost corwention. modffied to In¢l￿￿e the revaluation of
certain financial instruments at fair value. The prinapal accounting poliGie¥ adoptsd are sel c*rt below.
1.2 Golng concgrn
At the lime of approwng the financial Stalgments, the trustees have a reasonable expectation that th8 charity
h85 adewate resources to continue in operational existence for the foreseeabl8 fvlure. Thus the trustee8
continue to a¢Jopt the going concem basis of aecounting in pr8paring the financial statements.
1.3 Charitable funds
Unreslrided funds are available for use al the di￿retion of the trustee$ in furtherance of their charitable
objectives.
Restricted fvnds are subject to specific condilions by donors or grantors as to how they may be used. The
purposes uses of the r8Stricted funds are set out in the notes to the fIn￿CIal statements.
End0%￿Ment funds are subject to specific wndili¢Jns by donors that the capitd must be maintained by tha
tharty.
IA Income
Income is recognised when the charity is legally entitled to il after any perfom8nce conditions have been mot,
the amounts can be measured reliably. and it is probable that Income will be received.
1.6 Expendlture
Expenthture is recognised once there is a legal or construdive obllgalion lo transfer economic beneff( to a
third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the oNigation can be measured reliably.
Expenditure is classified by activity. The costs of each activty are made up of the lolal of dire¢t costs and
shared costs. including support costs involved in undertaking each activity. Direct costs attritrHJlable to a single
activity are allocated directly to that aclivily. Shared co$ls which contribute to more than one achvity and
support costs which are not attributable to a single adivity are apFK)rtioned between those actiwties on a basis
consistent %Mth the use of resourees. Central staff costs are allocated on the basis of lime spent, and
depre￿atIOn charges are allocated on the portion of the asset's use.
Resources expended are rgcognised in the period in ￿1¢h Ih&y we incurred.

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
AccourEting poll¢lo5
Icontlnugdl
1.6 Tangibl• fixed assets
Tangible fixed assets are initially measur8d at cost and subsequently measured at CO81 or valuation, nét of
depreciation and any imp8imient losses.
Depreciation is recognised so as to ￿lte off the cost or valuation of assets les5 their residual valu8s over their
useful lives on the fdlowing bases-.
Land and bulldings
Fixtures, fith'ngs & equipment
10% Straight line basis
200A straight line basis
The gain or105s arising on the disposal of an asset is determined as the difference between the sole proL*ed8
and the carying value of the asset, and is recognised in the statement of fingncial activities.
1.7 Impairniènt of flxed assets
At each reporting end dale, the charity reviews the corrying amounts of its tangible assets to dtrtsmine
whether ther8 is any indication that those a88ets have suffered an impaimi8nl loss. If any suth indiealion
exists, the recoverable amount of the asset is estimated in order to d&termine the extent of the impaiment
loss {if any}.
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call wth banks. other short-lerm liquid
ir)vestments ￿￿th original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
thin borrowing¥ in eurrent liabilities.
1.9 Financlal Instruments
The charity ha$ elected lo apply the provisbons of Section 11 'Ba8ic Financial Instruments, and Sedion 12
'Other Financlal Instruments Issues. of FRS 102 to all ol its financial instrumen
Financial instruments are re￿gnised in the charitys balance sh88t when the charity becomes paty lo
conlrodual provisions of the instrument.
Financial assets and liabilities are offset. wth the net amounts presented in the finandal ststements, when
ther8 is 8 legally enforceable rlghl lo set off the recognised amounts 8nd there is an intentson lo settle on a net
basi8 or lo realise the asset and setue the lla￿.11ty simullan8ously.
Basle Ilnancial assèts
Basic financial assets. ￿1¢h include debtors and cash and b8nk balances. are initially measured at
transaction priee indudiro transaction costs and are subsequently carried al amortised cost ugrbg the effective
int8r8St method unless the arrangement conslf(utes a finanang transaction. where the transaction is
measured al the present value of the future receipts discounted al a market rate of intere$l. Flnanaal assets
classified as receivable within one year are not am¢rts"sed.

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting polkles
IContSnuedl
Bas1¢ finanelal Ilabllltles
Basic ffinancial liabilitie$, induding C￿￿110r$ and bank loans are initially recognised at Iransactlon price unless
the arrangement constilLrtes a flnancing transa¢tion, where the debt instrument is measured at the present
value ol the future payments discounted al a market rate of interest. Financial liabilities classified as payable
within one year ar8 not amortised.
Debt instruments are subsequently carried al 8morti6ed cost, using the effectlve intere$1 rats method.
Trade ueditors gre obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassthed as current liabilities if payment is due wlhin one
year OT less. If not, they are presented as non-currenl liabilities. Trade creditors are rwnised initially at
transaction Pri￿ and subsequently meaSu￿d at amortised ¢ost using the effective interest melhod.
Dere¢ognlUon of Ilnanelal Ilabllltles
Financ4al liabilities are derecognised when the charity's contradual obllgations expire or are discharged or
cancelled.
1.10 Employee ben?flts
The co81 of employee benefits, induding any unused holiday entitlement, 1$ recognised In the period in which
the em￿0ye8,8 ¥ervKes are received.
1.11 Rèstrlcted Funds
Restricted fvnds are to be used for speufic wjrposes as laid down by the donor. Expenditure %thich meets
this crilena is charged lo th8 fund.
1.12 Unr08trfcted Funds
Unrestricted funds are incoming resources reCeiVa￿e or generated for the objects of the tharity ￿thOut
further specified purpose and are available as general funds.
Critlcal accounting estImal￿ •nd judgements
In the applKation of the charlty's xcounting policies, the trustee$ ar8 required to make judgements, estimates
ond assumptions about the caryng amount of assets and liabilities that are not Teadily apparent from other
sources. The eslmnates and associatsd assumptions are based on historical experiente and other factors that
are considered to be relevant. Actual results may drffer from these estimates.
The eslimales and underlying a5$umptions are review8d on an ongoing basis. Rewsion8 to accounting
eslimales aro re¢ognised in th8 period in which the estimatè is revised where the revision affects only th81
period, or in the perio(l of the revision and fulufe periods where the revision affect5 both current and future
period5.

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donations and legacles
Unre8trict•d
funds
Total
2024
2023
Lydney Tovm CoLmciI & other grants
1W,376
59,315
Incomo from Invesbnents
Unrestflctod Unmtrlcted
lund5
funds
2024
2023
Interest receiv4t￿e
1,833
Charltablo •¢tlvltles
2024
2023
Charitable rental in¢ome
other in¢ome
23.411
3,514
24,582
26.925
24.582

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Exp•ndlture on charitablo actlvltl•s
Heading
#a¢982
2024
Hgading
#ac982
2023
Dlrect costs
Depreciation and imp8irmanl
OffiGe c(ksts
Insurance
dter and business rates
Grass cutting, grounds, gener81 maintenance
Litter plcklng, Ik>g wasle bins & bags
Skateboard park maintenance
Legal and profes￿onal
Heaf(h and safety lincl tree works)
Independent examiners fees
Drainage
Geesemanagement
Section 106 changing room etc expw)ditures
23,186
1,446
8.851
2,832
29,900
12.662
8.923
19,326
8,100
3,256
11,758
12,509
614
80
3,191
870
38,800
3,600
900
27,600
5.699
121,999
102,250
Analysis by fund
Unre8tricted fLmds
121,999
102,250
Net movement in funds
2024
2023
The Mt movement in ffiJnds is staled after chargI￿lIc￿edth.ng}-
Depredation of owned iangible fixed assets
23,186
19.326
Trustees
None of the trustees (cf any parsons connected with them) received any remuneration or beneffts from the
charity during the year.
Employ•ès
The average MC￿thlY nLtmber ofemploy8es during the ye8r was:
2024
Number
2023
NumboT
Total
There were no employees whose annu81 remuneralion was more t119n £60,000.
10-

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 MARCH 2024
10 Taxation
The charity 1$ exempt from taxation on its aclivilies because all its i1￿me is applied for charitable purposes.
11 Tanglblo fix•d assets
La￿1 and
bulbJln95
Flxturo4
fittingg &
equlpmert
Totsl
Cost
At 1 April 2023
Additions
294.804
40.457
4.411
299,215
40,457
At 31 March 2024
335,261
4,411
339,672
Deproclatlon and Impaimient
At 1 April 2023
DepreciatKJn charged In the year
194,025
22,757
3.915
429
197.940
23.186
At 31 March 2024
216,782
221.126
Carrylng amount
Al 31 March 2024
118,479
67
118.546
Al 31 March 2023
100,779
496
101.275
Addllion8 to land and buildings in the year ended 31 Marth 2024 were SectK>n 106 expenditures on Drainage.
12 Deblors
2024
2023
Amounts falling due withln one year.
Trade debtors
other debtors
Prepayments and accwed income
1.602
3.688
9.270
1,296
754
8.239
14.560
10.289
13 Crndltors: amounts falling due wlthln one year
2024
2023
Trade creditors
Accruals and deferred incorr
420
900
5.586
1.320
S,$86
11

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Unrestrict•d funds
The unrestricted fijnds of the charity ￿mplIS0 the unexpended balanc8s of donations and grants bvhich are
not subject to $￿ifiC conditions by donors and grantors as to how they may be used. Thesè include
designated fiJnds which have been sel aside out of unrestricted funds by the trustees for specific purposes.
Transfers At 31 March
2024
At 1 Aprll
2023
Incoming Rosources
r8s¢urces
expended
Special Projects
Garage Repalr
Path
Management of geeso
General funds
128.252
{18,850)
109,402
1.000
3,600
188,373
1,000
3,600
214,358
129,134
1121,9991
18,850
322.211
129.134
1121,9991
329,346
Prgvlous year:
At 1 Aprfl
2022
Incomlng Rosour¢
r080urc8s
expgndod
Transfers At 31 m?￿h
2023
Drainage
Special Projects
Garage Repair
Path
Management of geese
General funds
47,582
16,906
2,000
1,000
147,5821
111,346
(1,014}
128,252
986
1,000
3,600
188,373
3,600
(66,3501
272,690
84,283
{102,250)
340,178
84,283
(102.250)
322,211
The d8￿gnated funds are held 88 part of current ass6t8.
15 Relatsd party transactlons
Income for the year ended 31 March 2024 Indudes £46.26912023.£20.515) grant Income Lydney Town
Council.
12-

LYDNEY RECREATION TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Cash genernted from op•ratlon8
2024
2023
Surpluslldefiull for the year
7,135
(17.967)
Adlustmenls for..
Investment income recognised In sl*ement of financial activitl8S
Depreciation and impaiment of tsngible ffixed assets
11,8331
23,186
(386)
19,328
Movements in working capital..
{In￿ase11deCrease in debtors
{Decrease}lincrease in creditors
14,271)
14,266)
227
4.756
Cash generaled from operatlons
19.951
5.956
17 Anaty5is of chang•s in nelfur￿$
The charity had no material debt duriNJ the year.
13-