Charity Reglstèred Number: 302925 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 THE LONDON PLAYING FIELDS SOCIETY CONTENTS Page Ref•ronce and Admlnlstratlvè Dètails of the Charlty, its Trusteès and Adv15ers Truste&s' Report Statement ol Trustees. Responslbllltles 10 Independent AudStorfs Rgport on thè Financlal Statements Consolldatsd Statemont of Flnancial Adlvltles 15 Consolldated Balanc& Sheet 16 Charlty Balance Sheet 17 Consolldated Statement of Cash Flow5 18 Note$ to the FSnanclal Statements 19-41 THE LONDON PLAYING FIELDS SOCIETY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2021 Trustees The Hon William Cadogan Colin Ainger Jamia Dalrymple Christine Double Dennis Hone CBE Sally Hopper Henrietta Martin-Fish8r Lucy M¢Crickard Jack Miller (deceased 15 December 20201 Anthony Ratcliffe Andy Sutch Cara Turtington Andy Webb Charity reglster¢d number 302925 Pylnclpal address and Registered Offlce 58 Bloomsbury Street London WC1B 3QT Patron HRH The Duke of Gloucester KG GCVO Honorary Patron The Rl Hon the Lord Mayor Df the City of London Chlef Executlv• Alex Welsh Financè Offlcèr Carolyrb Collrell until 10 May 2021. Elizabeth Reos from 10 May 2021 Operations Dlrector Paul Baker Independent auditor MHA Maclntyre Hudson Stalulory Auditor 6th Floor 2 London Wall Pla London, United Kingdom EC2Y SAU Bankers Bank of Scotland 33 Old Broad Street London BX2 1LB Sollcltors BDB Pilmans LLP One Bartholomew London EC1A 7BL Inve$tm•nt ad¥l$o¥s Cazenove Capital Management 12 Moorgate London EC2R 6DA Page 1 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 The Council Members, being the Trustees of The London Playing Fields Society. present their report and linancial slalemenls for the year ended 30 September 2021. The financial statements have been prepared in accordance with the a¢counling policies sel out in no18 1 to the linancial slalemenls and comply wilh the Society's governing document, the Charities Act 2011 and the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS102} and Reporting by Charili85.' Slalement of Recommanded Practice gpplicable in the UK and Republic of Ireland IFRS1021. I'chariliès SORP'I Structure, governance and managgmont The London Playing Fields Society was founded in 1890 and was consliluled by Royal Charter on 316t October 1925. last amended 11 February 1998. The Society is a regisl8red Charity. and rt operates undor the name of The London Playing Fields Foundation. The Trustee5, who 8re also Council Members land referred lo as such), delegate day lo day responsibilty and administration lo the Chi&f Exe¢ulive who is 8UPPOrted by six head office stsff and a team of grounds staff. The Trustees and the Chief Executive comprise the Key Management Per80nnel of the Charity. The Council Members who Se￿ed during the year were.. The Hon William Cadogan Colin Ainger Jamie Dalrymple Christine Double Dennis Hone CBE Sally Hopper Henriella Martin-Fisher Lucy M¢Crickard Jack Miller Idecea58d December 20201 Anthony Ralcliffe Andy Sul¢h Cara Turtinglon Andy Webb Appointment of Council Members is governed by the Charter of the Charity. The Committee of Council Members (The Council) is aulhorised lo appoint new Council Members, who are suitably qualified, lo fill vacancies ari51ny through r8signalion or death of an existing Council Membor. On appointment, Council M8mbeis undertake an induction process in which they are briefed on the So¢iely's acliviliès and ils operational framework and they meet quarter￿ during the year lo monitor activities and to establish pollciès. The Council members have a huge amount of experience, both in business and Charity mallers, and Continuous￿ seek to improve performance and efficiency, and lo learn new and beller ways of delr¥erin9 the Society's objeclives. Council Members with relevant ski118 and experience are appointed to the key committeeg, the Finance and General Purposes Commillee, the Funding and Communications Committee and the Remuneration Commillee. The Society keeps trustees informed on topical issues and pmvides ongoing training where necessary. Page 2 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Remuneration policy The Remuneralion Committee meets annually to review staff pay, including that of Key Management Personnel and senior staff. A formal remuneration policy ha$ been adopted by the Charity such that. an annual staff Ing audit is produced for inlormalion and discussion al Ihis m8eling which includes consideration of industry comparisons, th8 National Living Wage and the London Living Wage and the Institute of Groundsmen recommended salary scales and benchmarkslparamelers for the Chief Executive salary. Trustees are not remuneialed, Objectives and actlvllles In s811ing the objectives and planning the aclivilies of the Socièty, the Trustees have considered Ihe Charity Commission's general guidance on public benefit. The Society's main objective is the protection, provision and promotion ol playing fields in Greater London to encourage more people to take part in sport and physical adivily. 11 caters particularly for the young, old, disabled and disadvanlaged.11 also provides resouices and coaching fa¢ililies for students al schools. universities and colleges. Our vision is lo create a happier, heallhier and more cohesive London by providing places lo play sport forever. Given that hiring income does not fully Gover operational expenditure, the Society Continues lo seek additional sources of finance to fund ils charitable objediv8S, We have four main beneficiary groups Schools whete a Iovo for sport begins Club5, colleges and universities where this love continues and flourishes Disadv8ntBged and underrepresented groups who for various reasons are unable to gain acce8s lo mainstream sporting opportunities The inactive who con81ilule half of the adult London population The Council has paid due regard lo guidance issued by the Chariiy Commission in deciding what activities the Society should undertake and, in roviewing this year's aclivilies, we have continued lo remain faithful to our original objects. namely 'lo provide or assist in the provision of facilities lor recTeation or other leisure lime activities in the interests of social welfare al places within OT adjoining Ihal area which formerly came within th8 administrative area of the Greater London Council including Ihe provision of facilities for oulduor games and alhleli¢s for persoyjs who by reasons of youth, age, infimily or disablement, poverty or social and economic circumstances, may not otherwise have the opportunity to enjoy them.. In this last year, we have continued lo demonstrate.. Our 51ralegi¢ role in protecting playing fieldg in Greater London Th8 PDwer of sport and physi¢al a¢livily in improving lives especially against the backdrop of the pandemic The need lo reach beyond mainstrèam provision and gccommodale disadvantaged 9roup8 and individuals During the pandemk the Society worked withlgcal County Football Associations in drafting advice for Local Authorities on the resumption and extension of th8 2020-2021 football season and the impact il had on the management and preparation of pilches. Page 3 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 remain indebted lo our founders who, back in 1890. foresaw the dangers of the rampant urbanisation of the capital and appr6cialed Ihe need lo protect its open spaces so that the growing population had somewhere lo enjoy ils sport. There ar8 appioximately 1500 playing fifjlds siles in London antl with 85°/0 of playing fields in Lc)ndon owned by a local authority or local éducation aulhoTIIy, the Society is th&"go lo. organisation that local community groups turn lo when faced with the loss of a local playing field. Since 2008 the Society has been maintaining a Fields al Risk Register and over the last year has continued to oSSlSt in the protection of fields considered lo bè vulnerablo lo building development. The Society owns the following grounds.. Boslon Manor Playing Field, London Borough of Hounslow Douglas Eyre Sports Centre. London Borough of Wallham Forest Peter May Sports Cenlre. London Borough of Wallham Forest Fairlop Oak Playing Field, London Borough of Redbridge Prince George's Playing Field Icurrenlly under leasel, London BoTough of Merton London Marathon Playing Field RedbrKlge, London Boiough of Redbridge London Marathon Playing Field Greenwich, Royal Borough Df Gregnwich London Marathon Playing Field Greenford, London Boiough of Ealing Rlsk management The Council Members active￿ ￿VIeW via an annually updated Risk Register, the major risk8 which the Society faces. The m8jor risks are in relation lo Ihe108s of use of pilch8s and buildings leading lo a loss of income due lo Covid-19. During the year the Society had to close ils grounds from November 2020 Ltntil the end of March 2021 leading to a ¢onsequenl Ioss in pitch hire income and a further defeNal of commarcial ￿nIs1 income. However, unlike the previous year, the football season was extended and resumed al the end ol March 2021 and the criekel season look place as normal albebt operating under Government Covid-19 protocols. By the end of the year our Iwo major commercial tenants had caught up with their deferred rent. In light ol the enforced closure ol ils grounds, the Soci?ty once again benefitled from business grants tolalling £225,108 and for furloughed staff the Charity ieceiv&d job relenlK)n grants of £46.917. The Council Membeis believe Ihal maintaining reserves al a level al least equival8nl lo twelve monlh5' general fund expenditure, combined with an annual review of tha controls over key financial data, will provide suffi¢ienl resources in th8 event of unloreseen adverse conditions. Aside from the pandemic the other major risk is th81 the Society's leisure facilty buildings are not adequately maintained and fall below slatulory requirements 2nd the level of amenity for users becornes unacceptable. The Society has therefore sel aside an unreslricled designated 18g8¢y lund lo coveT major maintenance and refurbishment of its buildings. The Council Members have also examined olher operational and business risks faced by the Society and confirm that they have established appropriate business controls lo mitigat& and manage the risks. Fundralslng In common with olher Charities, the sources of revenue funding on whtch we have relied to undertake this sports.based "social inclusion" work ar8 diminishing, and this is a causo for ¢oncern. The revenije grant incom8 for our projects back in 2008 accounted for a third of the Society's annual income and this decreased lo 6.3010 by 2020. We continue lo seek new Sources and means of funding and our annual Gala Dinner has now raised over a million pounds since 2011. However. due lo Covid-19 reslriclions th8 2Q20 Gala Dinner 01 The Savoy was cancelled and replaced with a Virtual Gala Quiz. Martin Bayfield hosted the onlin8 quiz with guests allending from the comfort of their own homes. Fundraising adivi11gS included a silent auction, raffle and pl8dges and a remarkable £76.000 was raised after deducting the costs of running the event. Page 4 THE LONDON PLA YING FIELDS SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Having cancelled the 2020 LPFF Quiz al The Oval, we were determined that the 2021 event would go ahead as normal. By moving the event lo 151h July 2021 we weie able lo allracl 194 gue515 (who all fgllowed appropriate Covid-19 prolocolsl with the total figure raised through fundraising activilies being £22,744 exceeding the 2019 lolal by just over £1,00D. The LPFF Quiz al the Oval and the Gala Dinner al the Savoy Ilhis year preplaced by the Virtual Gala Quiz) are the two majorfundraising events organised by the Society. Both are facililaled by the Society's staff. Neither a professional fundraiser nor a commercial participalororganised these aclivilies. The aim is lo raise money via table sales. sponsorship. donations, auction items and raffle. Neither event Is bound by any voluntary scheme for regulating fundraising, bul the Soci8ly do8s follow b&sl practice laid down by thè Inslilule ol Fundraising. Each event has an organising committee comprising Iruslees and volunteers who assist in the sale of lickels and Ihe acquisition ol auction items. The activities of each ¢ommillee are overseen and monitored by the Chief Executive who ensures that accuiale records are kept ol moni8s ¥ais8d 8nd costs exp8nd@d. Minul8s ar8 taken al @very meeting. During the year we received no complaints related lo our fundraising acltvities. Achlevements and performance During this year the Society had lo once again close ils grounds for eighteen weeks between the beginning of November 2020 until the end of March 2021 due to Covid-19 restrictions. During this period the Society did nol pr8ss for p8ymBnts from ils football clijbs and allawed its commercial tenants to defer their rent. However, unlike in 202Q, this time the football season was extended lo the &nd of June so that clubs could fulfil their fixtures albeit having lo adhere to Government protocols which prohibited use of changing facilities. Learning from the experience of Ihe prev￿￿$ year we resolved lo gel London back lo sport as soon as Testriclions on team sports were lifted. In Order lo do this, we decided Ih8t we had lo be innovative in theway in which we 901 sport going again, flexible in ensuring that football malehes could Still be played during the cricket s8ason, respectful in the way w6 met the needs of all of our ground users in complying with Covid-19 protocols and collaboratlve in the way in which we communi¢alod with our ground users on a regular basis. One r)f the corollari8s ol this situation was the forgin9 of wen stronger relationships with our clubs. In thè end the majority of ourfootball clubs completed their 2020-21 fixtures and the 2021 cricket season look place wilhoul any interiuplions. As a result of our pre-emptive action the ulilisatipn rates for the 2020-21 season reflected pre-covid levels and we anlicipale a very high demand tor crick81 pilch8s in 2022. 11 was feared that the extension of the football season lo 301h June 2021 would result in signilicanl amage lo the Society's pitches, bul this did not malerialise for two reasons. Firstly. most clubs compl8ted Ih8ir unplayed matches by 12th Jijne so that demand for pitches was not as great as first envisaged. Secondly, having rested the pitches from November until the end of March, when football resumed the playing surfaces were well grass8d 8nd in Èxcellènl condition. This m83nl th81 w88r and lear was minimal. The biggest challenge was to ensure that the pitch exlension programme used up the Credits that clubs had accrued during the h￿0 prolracled lockdown p8riods which amounted lo 24 lost football we8kènds. Al the end ol August 2021 most clubs were no longer owed credits but on those grounds which could not offer a 3G surface there were a small number that look credits into the 2021122 season. Cricket ulilisalion across all of the grounds was very good with an average occupancy of 91UJ.193Yo on Saturdays and 89Yo on Sundays). Best performing grounds were Fairlop Oak, LMPF Redbridge and Douglas Eyre with 1 QOYO occupancy and Ih8188s1 was LMPF G￿anfOrd wilh 670A, The Essex Mèl colts, ompelilions prgvided 92 mal¢he8 of youth cricket throughout the summei. Page 5 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Inter school sport was hil hard by the pandemic and. whilst schools like Gunnersbury lal Boslon Manor Playing Fi&ldl and Willowfield {at Douglas Eyre Sports C8nlre} still used LPFF fields for PE lessons. there were very few school Cricket matches during the 2021 summer term. How8vÈr, il is pleasing to ole that the Wallham Forest Secondary Schools Cricket and Football Association has booked the Foundation's two Watthamstow grounds for a minimum of 76 league foolb811 matches for the 2021122 academic year and Redbridge Schools booked 18 district matches al Faiilop Oak Playing Field. A further 19 Essex County Schools matches will also take place al the Iwo Redbridge grounds. In addition lo providing place8 for schools ond clubs lo play and praclise. the Society ¢onlinued lo develop a wide programme of sport based social inclusion activities al ils grounds Ihal address the main borriers to participation in sport and ar8 free of charye. These include the Green Hearts project which provides flexible access lo informal walking, jogging and running al Dougla9 Eyre Sports Centre. Throughout the lime when our grounds were closed for organised sport we extended Green Hearts and left our gales open so that local residents ¢ould use our fields lo exercise on a regular and socially distanced basis. This was gratefully appr8¢ialed by local people somo of whom described il as a 'life saver.. The other project that continued throughout the yearwas the groun¢J breaking Coping Through Fr)otball, a partnership with the NHS and Leylun Orient Trust that provides a service with a diff&r8nce in helping people with mental h8allh issues gel their lives back on track. During the four-monlh lockdown period, telephone and online contact was maintained with service users lo ensure that their heath and well- boing w8r8 not being loo adversely affected by having lo slay 81 home. Then as soon as Government guidanc& allowed, the Coping Through Football practical sessions resumed albeit adhering lo group Sizes ol six people and strict Covid-19 protocols. All of our participants were delighted when Ihtsy were allowed "back on the pitch. proving once again th8 Iherapeulic value of the project. Saturday Morning Soccer, a project designed lo increase activity levels in children who are not currently in loams might otherwise have been silting al home. recommenced following the end of lockdown. It provides a fulfilling weekly foolb811 experience lor primary schoDI glrts and boys who have hi81orically not been involved in organised football. Staffed by FA qualified coaches from one of our partner clubs LOASS. these SaluTday morning sessions on our 3G Pbtch al Douglas Eyre Sports Centre have proved extremely popular. The Society ha5 maintained ils strategic role as the leading body throughout Greater London in the protection of playing fields and their promolivn as a means of creating healthier, more active loeal communities. The Soci8ty believes that once a playing fiekl is lost il is 1051 for8ver. Ils 'Fields at Risk Register, continues lo provide an early warning system for fields under imminent threat of sale or development.11 also provides the lirsl port of call for community organisalions concerned about the loss of a field and over the last five years il has helped save ovèr Iwenly grounds. The Foundallon has produced a Charter lor Playing Fields in London which is a ¢all lo action for the Grealer London Authority, local aulhorilies and sporting bodies lo adopt a long-term view of the contribution playing fields make to ¢realing happier. healthier, more cohesive communities. The Society contends that playing fields are where sports Start and for the gifted few thgy are where careers start. 600/0 of th8 Ess8x squad that won the 2019 Division One cricket championship and T20 Brg Blast came through Peter May Sports Centre and Fairlop Oak Playing Fiekj as paTt of their development. Pag& 6 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 From a staffing ptsinl of vièw all the Foundation's ground8 Staff have ¢ontinued working a5 normal. despite the pandemic. However. a small number ol cleaners and supervisors who were unable lo work as our facilities were closed for organised sport, were placed on furlough during th8 lockdown. The Head Office staff have responded lo the prevailing Gov8rnment advice and worked from home when required, Since the first lockdown all ol our Truslee5' mtretings have taken place virtually and whilst the benefits of meeting in persofb have been missed they have adapted very well. Sadly Covid-19 claimed our long standing and highly respected Trustee Jack Miller who died in December 2020. During his tenure Jack made an invaluable contribulion to the Slabilily and 8ffectiveness of the Charity through his absolute commitment ID the playing lields cause and was the first port of call whenèver Ihe Foundation needed legal advice. He was the mainstay of the Firsance and Genaral Purposes Committee and is greatly missed. Financlal review The inwme ol the Group for th8 year amounted lo £1,435,783 (2020- £1,509, 682J. Included are grants of £112,000 for Coping Through Football, and Government Covid-19 business grants lolalling £225,108 plus Job Retention grants of £46,917. Oelails of income are set out in Notes 4 10 7 of the account8. Thè total resources 8xpended by the Group amounted to £1,602,495 (2020 - £1.645,897J. The nel &xpendilure before revaluation of investments was £166,712 (2020 £136,215). Revaluation of investments amounted lo £367,576 {2020- £73,342J. Nel movement in Group Funds for the year of £200,864 (2Q20- Deficit £62.873) comprised 8 decrease n Testricled funds of £72,845, and an increase in uni8slricled funds of £273,709. 11 should be noted that the favourable nel movamenl in Group funds for the year is largely due lo the receipt of £272,025 of gr8nts relating lo Covid-19 and a significant Tevalualior) of inveslmonls as equities rebounded from k)w&r levels al the start of the pandemic. However the underlyir)g financial position of the Society is that income from usage of grounds remainy insufficient to ¢OV8r all necessary operation81 maintenance ¢osls. The decrease the reslricled fund comprises the deprèciation on properties and equipment. The puiposes of the designated lund8 are set out in Not8 19 lo the accounts. As al 30 September 2021 the Group held reslri¢ted funds of £1.408.603 (2020- £1,481,448). The Trustees have the powerto make and hold inveslmenlg using the general fund$ of the Society and lo change investment allocations based on the advice of professiunal advisors. The Trustees also have the authority lo appoint professiori81 investment managers at a reasonable remun8ration and have placed limited conslrainls on their investment managers in respect of holding investments. Th8 investment portfolio is managed by Cazenove Capital. The porifolio delivered a return o113.7Yo (2020_ 3.6OAJ over the year, nel of Costs ?nd expenses. The main long-18rm objective for the portfolio is lo achieve an average annual return of inflation IUK CPI) plus 3.50/0. The Society has adopted an ethical investment policy. This policy ensures that the So¢iely'8 a8sels are invested in line with ils aims. Trustees do not wish lo &dopl an exclusionary policy, bul individual inve$lmenls may be excluded if perceived lo conflict with the Sociely's purpose. TTuslees wish their investment manager to use their best endeavours lo preclude investment in tobacco, alcohol and arms or collective funds with more than 200/• of assets in Ih8se categories. Page 7 THE LONDON PLAYING FIELDS SOCIETY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2021 Subsldlary The Socrely has a wholty owned subsidiary, Wadham Lodge SpL)rts Centre Limited. The principal activity of the Company is the hiring out of sports facilities. Further details are provided in Note 16. The performan¢e of this subsidlary was satisfactory during the year. Reserves policy AI 30 September 2021 the Society had reserves of £8.231.013 (2020- £8,030, 1491. Restricted Funds for Current activities amounted lo £1,408,603 of which £1,396.700 were invested in tangible fixed as5et8. A further £3,447,029 of unrestricted designated funds aTe also inv8sled in tangible fixed assets. In lolal £4,843,729 of the Society's funds represent th& nel boDk value of tangible fix6d assels after depreciation as of 301h September 2021, the vast majority of which FS the playing fields and associated leisure faGilily buildings owned by the Society. The Society depreciates these assets over 40 years and recognises that ils leisure facility buildings will require major maintenance and refurbishment during their useful life and eventually lolal replacement. Th& Trustees have Teviewed the lik8ly Capital expenditure contribution Ihatlhe Socielywill need lo make lo these main18nan¢e and replacement cos15 and the level of provision required. These were eslimaled lo be £800,000 fora new pavilion and artificial pitch al Boston Manor. £400,000 lor replac8menl of major M&E plant al Douglas Eyre, £100,000 for reinslatemenl and impiovemanls lo Avenue Park stadium and £400,000 for the major refurbishment of the pavilion al Redbridge, giving a total of £1,700,000. As a result, the Soci8ly had an unresliicted designated Lega¢y fund amounting lo £1,700.000 at 30 Septembèr 2021 put aside lo meet thesè rer4uiremenls. The froe reserves ofthe SOc￿lY amount lo £1,675.381 being lolal unrestricted fund8 of £6,822,410 bss tangible fixed assets of £3,447.029. and the designated unrestricted Legacy fund of £1.700,000. The Trustees reviewed the rese¥ves policy and agreed a piudenl approach that free reseN8S should be maintained al 8 level al least equivalent to twelv8 month's general fund expenditure. The Tru8lee¥ currently ¢onsidei that reserves al this level will ellSUTe that, in the event of a significant drop in funding. or major unforeseen or uninsured incident, they will be able lo continue the Sociely's current a¢livilies whilst having sufficient lime lo consider and implement additional ways of raising funds. General fund expondilure for thè year lo 30th Seplomber 2021 was £1,214.983 and free reseNeS are therefore £485,017 more than this. However, given the uncertainly regarding the ongoing Covid-19 Crisis and th6 potential requirement to draw on these free reservés in the near future the Trustees have considered this 8xc&ss is reasonable as the free reserves calculation includes unrealised investment gains of £875,079 which is held as a revaluation resorves. These reserves are subjected lo market volalililies and therefore could reduce signilicantly if there is a downturn in the global nwrkels. As such holding the excess ieseNes as a buffer lo mitigate this risk has been deemed appropriate. Plans for the future Against a background of continuing cuts in public sector funding which has worrying ramifrcations for local leisure services, the Society is determined lo play a k8y role in making London a beller place to visit and in which to live and work. In thes8 challenging conditions, Il will continue to follow the 4 M's model of playing fields operation by modernising. managing, marketing and maintaining ils facilities so that they are accessible. affordable and atlraclive. Modernising.. the Society will continue lo pursue means of raising funds lo ieplace ils oldest pavilions. ageing pieces of plant and il&m8 of machinery so that they are ftl for PUTPOS8. Managing.. the Society will Continue lo explore innovative ways in which il can deliver its charitable objectives, particularly for th8 neediest, whilst becoming more sustainable. Page 8 TrIE LONDON PLAYING FIELDS SOCIETY TRUSTEES, REPORT FOR THE YEAR ENDED 3D SEPTEMBER 2021 Marketing.. the Society will continue to promote thè value of playin9 fields to local communities and to ensure that ils grounds achieve high levels of utilisalion. Maintenance.. the day lo day and systematic seasonal grounds improvement programme will continue. People are always surprised by how much we manage lo achleve in a challengir)g environment but, despite this oulslanding track record of IransfoTming livos through sport and physical activity, our profile in the eyos of the public and potential donors is not as high as il should be. During the year we look steps lo remedy this with a new social media slralegy that will make us more well-known and extend our reach. Approved by order of the Memb8rs of the Board of Trustees and signed on ffs behall by.. Dennis Hone CBE Trustee Date.. 07 March 2022 Page 9 THE LONDON PLAYING FIELDS SOCIETY STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021 The Trustees are r8spon8ible for preparing the Trustees, Report and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicèl. The law applicable lo chorities in England & Wales requlres the Trustees lo prepar8 financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the Group and the Charity 8nd of their incoming resources and application of resouTces, including their income and expendiluie, for that period. In preparin9 these financial slalemenls, the Trustees are requireLI to.. select suitable accounting policies and then apply them consislenlty., observe the methods and principles of the Charilies SORP IFRS 1021,. make judgements and a¢counling eslimales that are reasonable and prudent., slate wh&lher applicable UK Accounting SlandaTds (FRS 102} havo been followed, subject lo any rnalerial departuies disclosed and explained in the financial stalemenls,. prepare the fi'nancial stalernenls on the going concern basis unless il is inappropriatè lo presume that the Group and Charily will continue in business. The Trustee8 are responsibl6 lor keeping adequate 8ccounling r8cords that are sufficient to 8h¢)w and frxplain the Group and the Charily's transactions and disclose with ¥easonable accur8cy al any lime the financial position of the GroL4P and the Charity and enable them lo ensufe that the financial statements comply wilh the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Trust de8d. They are also responsible for safeguaiding the assets of the Group and the Charily and hence for toking reasonable steps for the prevention and detection ol fraud and other irregularities. In so far as th8 Trustees are aware.. there is no relevant audit information of whl¢h the Group and Charity's auditor is unaware., and the Trustees have taken all steps that they ought to have taken lo make themselves aware of any relevant audit information and to estsblish that the auditor is aware of that information. Approved by order of the Members of the Board of Trustees and signed on Ils behalf by.. Denni$ Hone CBE Trustee Dale.. 07 March 2022 Pag8 10 THE LONDON PLAYING FIELDS SOCIETY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON PLAYING FIELDS SOCIETY Oplnlon We have audited the financial slalements of The London Playing Fields Society (the 'Parenl Charily'l and its subsidiaries Ilhe 'Group'l for th6 year ended 30 September 2021 which comprise the Consolidated Statement of Financial A¢livilies, the Consolid8led Balance Sheet. the Chafily Balance Sheet. the Consolidated Slalemenl of Cash Flow8 and th8 related notes, including a summary of significant accounting policies. The financial reporting Iramewotk that has been applied in their prepar81ion is applicable law and Un¢ted Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepled Accounting Pra¢licel. The financial slalemenls have been prepar8d in accordance with Accounting and Reporting by Charilios preparing their a¢¢ounls in accordance with the Financial Reporting Standards applicable in the UK and R8public of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charili8s.' Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in th8 extant regulations bul has been wilhdrawn. This has been dono in order foT the accounts to provid8 a true and fair v¢tiw in accordonce with the Generally Accepted Accounting Practic8 affective for ieporting periods beginning on or after 1 January 2015. In our opinion the financial 51alemenls'. give a true and fair view of the slate of the Group's and of the Parent Charity's affair8 as at 30 S8ptembeT 2021 and of the Group's incoming resources and application of Tesources. including ils income and exp8ndilure lor the year Ih¢n ended; have been properly prepared in accordance with Un￿e 1325,7191 367.676 1,675,381 Total Unrestrlct8d funds 6,548,701 1.323.783 11.417.650) 367,576 6,822,410 Re$trlct•d funds The London Marolhon Charitable Trust Fund Coping Through Football Bernard Sunley Charitable Foundation The Feolball Foundation Green Hearts The Big Giv8 1.246.477 2.215 IS2.0891 1109.680} 1.194,388 4,535 112,000 4,635 220,753 2.393 4.975 11,0001 122.0761 3.635 198,677 2,393 4.975 1,481.448 112.000 {184,8451 1,408,603 Total of funds 6,030,149 1,435,783 {1,602,4951 367.576 .231,013 Page 35 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 19. Statement of funds Icontlnuedl Desi natod fund The Fixed Asset Fund repiesenls the nel book value of the fixed assets owned by the Group after depreciation which do not form part of the restricted funds. A transf8r into this fund of £14,240 from Ihg Unreslriclod general fund represents ¢apilal additions in the year made using unreslricled general funds. The Legacy Fvnd represents investments designated for major maintenance, refurbishment and eventual replacement of leisur@ facility buildings within the next len years. After reviewing the likely capital expenditure contribution Ihal the Society will need lo make to Ih8se maintenance and replacemenl costs, the provision required was increased to £1,700,000 and a transfer of £311,479 was made from the Unreslricled gen6ral fund lo the Designated fund. Gener The Unrosliicted gen8r81 funds reffe¢l funds whtch are available for use at th8 discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. The Revaluation reserve represents the accumulation of nel revaluation gains and losse5 recorded lo Fixed asset inveslmenls. A transfer into this fund of £156,605 from the Unre8lricled general fund is lo correct the year end fund balance. Restri e London Maratho Charitable und The London Marathon Charitable Trust Fund ¢omprises three sports grounds, being the London Marathon Playing Field Greenwich, the London Marathon Playing Field Redbridge and the London Marathon Playing Field Greenford, £75.000 grant funding for th8 artificial turf pitch {ATPI al Peter May Sports Centre and £20,000 grant funding for new gales al Avenue Park. Th8 movement on this fund repre8enls the depreciation charge on these three grounds and the artificial lurf pitch. Co h Football Fund The Coping Through Football Fund is applied in support of the Coping Through Football Programme. This is being used lo expand the Coping Through Foolb811 project, which helps people with mental health problems g8t their lives back on track and across our London boroughs. Income during the year represents donations fiom The Sackler Family. Khayami Foundation and LBWF Public Hèalth. The Football Foundati The Football Foundation Fund represents grant funding received from the Premier League and FA Facilities Fund for the new ATP at PeleT May Sport8 Cenlre. The expenditure represents the depreciation charge on the ATP. £7,000 was raised in th8 Big Give Christmas Chaltenge in prior years lo fund Kick-slart Coaching course5. Kick-slart Coaching is a project which helps disadvantaged Londoners improve their lives by gaining sports coach qualifications. By providing flee places on FA courses to our project beneficiaries we help participants build their skills and Confidence and make a positive conlribulion in their local community. Page 36 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 19. Ststement ot funds {continuodl Statement of funds- prlor year Balance al 30 Septembei 2020 Balance al l Oclober 2019 Transfers I￿l0U1 Gains/ (Losses) Incom8 Expenditure Unre$tricted funds Deslgnatgd fund5 Fixed Assets Fund Legacy Fund 3.820,029 1.388,521 (204.447) 19,874 3, 635,456 1,388,521 5,208,550 {204,447J 19,874 5,023,977 General funds Unreslri¢led general funds Revaluation reserve 961,498 340.853 1,414,500 {f,245,595) [19,874) 63.297 10,045 1, 173,826 350,898 1.302,357 1,414,500 {1,245,595J (19,874J r3,342 1,524, 724 Total Unrestrict•d funds 6.510,901 1.414.500 (1,4￿,042) 73,342 6,548, 701 Restrl¢ted funds The London Marathon Charitable Trust Fund Coping Through Football Bernard Sunley Charitable Foundation The Football Foundation Green H8artS Thè Big Give 1.298,566 (52,089) 1.246,4T7 26,087 95,000 1118,872J 2,215 5,635 (1.000) 4,635 242.829 4.029 4,975 {22,076) (1,818) 220, 753 2,393 4,975 182 1.582, 121 95,182 (195,8551 1,481,448 Total of funds 8,093,022 1.509,682 (7, 645,897) 73,342 8.030, 149 Page 37 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 20. Analy$18 of npt assets bèlwepn funds Analysls of net assets between funds- Current yèar Unrestrlcted Restricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Fixed assèt investment Current asse18 Creditors due within on8 year 3,447,029 2.755,860 937.201 1317.680} 1,396,700 4,843.729 2.756,860 949,104 1317.6801 11.903 Total 6,822,410 1,408.603 8,231.013 Anatysls of net assets between funds. prlor year Unreslncled funds 2020 Restricted funds 2020 Tol81 funds 2020 Tangible fixed assets Fixed asset investments Curienl a5S81s Creditors due within one year 3,635.456 2,407,339 789,069 (283, 163) 1,471,865 5, 107,321 2,407,339 798,652 {283, 163) Total 6.548, 701 1,481,448 8,03Q, 149 Page 38 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 21. Reconclllatlon of not movemènt In funds to net cash flow from operatlng acllvlties Group 2021 Group 2020 N81 incomelexpendilure for the year las per Slalemenl of Financi81 Activities) 200,864 {62.873J Adjustmenis for: Depreciation charges Revaluation gains on investments Investment income Decreasel{increasel in debtors Incre8s81Idecrease) in creditOTS 15 16 277.832 {367,5761 128.3471 167.119 34,517 279,612 (73,342) (34, 108) (4,371) (174,713) 17 18 Net cash provlded byllusèd Sn) operatlng aGtivities 284.409 (69, 795) 22. Analysis of cash and cash oquivalènts Group 2021 Gmup 2020 Cash in hand 738,362 420, 781 Total cash and cash equlvalents 738.352 420, 781 23. Analysis of changes in not debt At1 October 2020 Cash flows At30 Sgptgmber 2021 Cash al bank an(i in hand 420,781 317.$71 738,362 420.781 317,671 738,352 Page 39 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 24. Contingent Ilabilitlgs Sport England hold a second charge over London Marathon Playing Fleld GrÈenford in respect of grant monies advanced in 2011 for Ihe refurbishment of the pavilion at that ground. The grant, which amounted 10 £430,296, may be repayable rf the ground ceases lo be used for Sporting purposes within the peTiod lo 2032. The London Marathon Charitable Trust holds a second legal charge ovei London Marathon Playing Field Greenwich.. a first charge is held by Th@ Secretary of Stale for Defence. A sum of £110.000 is repayable to the London Marathon Charitable Trust in the event of this ground being sold. London Marathon Plawng Field Redbridge is jointly owned by the Sociely and Thè London Marathon Chariiab18 Trust as tenant$ in Common. A sum of £401,000 is repayable lo The London Marathon Charitable Trust in the event of this ground being Sold. The London Marathon Charitable Twsl holds a fi'rst legal charge over London Marathon Playing Fietd Greenford. Hall ol the nel salo proceeds or a sum of £700,000, whichever is greater is repayabl8 lo the London Marathon Charitable Trust in the event of the ground being sold. Page 40 THE LONDON PLAYING FIELDS SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 26. Operatlng lease commltm&nts At 30 September 2021 the Group and the Charity had commitments to make fulurts minimum lease payments under non-cancellable operating leases as follows.. Group 2021 Group 2020 charity 2021 Charily 2020 Land and Bulldlngs: Not later than l year Later Ihan 1 year and not later than 5 years Later than 5 years 36,500 146,000 6.083 36,500 146,000 36,500 36,500 146,000 6.083 36,500 146,000 36, 188,583 219.000 188,583 219,000 Group 2020 Charily 2020 Othor: Not lalef than 1 year Latar than 1 year and not lal8r than 5 years 3,112 3,462 3.112 3.462 6,574 6.574 The following lease payments have been recognised as an expens8 in the Consolidated Statemènt of Financial Adivilies.. Group 2021 Group 2020 Charlty 2021 Charity 2020 Operating lease rentals 36.991 4Q,972 36.991 40.972 36,991 40,972 36.991 40,972 26. Related party transactlons None of the Council received any remuneration or expenses in the year {2020- £NILJ. During the year, tables and l or liekels were purchased for the annual Gala Dlnner and pledges made. to the lolal of £20.090 (2020- £75,550), by the following Trustees or their related parties- The Honourable William Cadogan. Jamie Dalrymple, Sally Hopper, Andy Sulch, Andy Webb and Anthony Ralcliffe. Included in unreslricled donations was £75,310 received from Trustees (2020 - £75,OOOJ and included restricted grants was £NIL received from Trustees f2020- £65,000). Controlling party The Trustees do not consider that there is any singl8 controlling paty. Page 41