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2024-09-30-accounts

Charity Registered Number: 302925

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE LONDON PLAYING FIELDS SOCIETY

CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 11
Statement of Trustees' Responsibilities 12
Independent Auditor's Report on the Financial Statements 13 -15
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Charity Balance Sheet 18
Consolidated Statement of Cash Flows 19
Notes to the Financial Statements 20 - 42

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Trustees The Hon William Cadogan
Colin Ainger
Jamie Dalrymple
Dennis Hone CBE (resigned 31st December 2023)
Sally Hopper
Henrietta Martin-Fisher
Neil Greenwood (appointed 1st January 2024)
Lucy McCrickard
Anthony Ratcliffe
George Ryan
Deepani de Silva (appointed June 2024)
Andy Sutch (resigned March 2024)
Andrew Webb
Charity registered
number 302925
Principal address and 58 Bloomsbury Street
Registered Office London
WC1B 3QT
PatronHonorary HRH The Duke of Gloucester KG GCVO
Patron
The Rt Hon the Lord Mayor of the City of London
Chief Executive Alex Welsh
Independent auditor MHA
Statutory Auditor
6th Floor
2 London Wall Place
London, United Kingdom
EC2Y 5AU
Bankers Bank of Scotland
33 Old Broad Street
London
BX2 1LB
Solicitors BDB Pitmans LLP
One Bartholomew
London
EC1A 7BL
Investment advisors Cazenove Capital Management
12 Moorgate
London
EC2R 6DA

Page 1

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Council Members, being the Trustees of The London Playing Fields Society, present their report and financial statements for the year ended 30 September 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Society’s governing document, the Charities Act 2011 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and Reporting by Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102) (‘Charities SORP’).

Structure, governance and management

The London Playing Fields Society was founded in 1890 and was constituted by Royal Charter on 31st October 1925, last amended 11th February 1998. The Society is a registered Charity, and it operates under the name of London Playing Fields Foundation (‘LPFF’). The Trustees, who are also Council Members (and referred to as such), delegate day to day responsibility and administration to the Chief Executive who is supported by six head office staff and a team of grounds staff.

The Trustees and the Chief Executive comprise the Key Management Personnel of the Charity. The Council Members who served during the year and up to the signing of the Financial Statements were:

The Hon William Cadogan Colin Ainger Jamie Dalrymple Dennis Hone CBE (resigned 31st December 2023) Sally Hopper Henrietta Martin-Fisher Neil Greenwood (appointed 1st January 2024) Lucy McCrickard Anthony Ratcliffe George Ryan Deepani de Silva (appointed June 2024) Andy Sutch (resigned March 2024) Andrew Webb

Appointment of Council Members is governed by the Charter of the Charity. The Committee of Council Members (The Council) is authorised to appoint new Council Members, who are suitably qualified, to fill vacancies arising through resignation or death of an existing Council Member. On appointment, Council Members undertake an induction process in which they are briefed on the Society’s activities and its operational framework and they meet quarterly during the year to monitor activities and to establish policies.

The Council members have a huge amount of experience, both in business and Charity matters, and continuously seek to improve performance and efficiency, and to learn new and better ways of delivering the Society’s objectives. Council Members with relevant skills and experience are appointed to the key committees, the Finance and General Purposes Committee and the Remuneration Committee. The Society keeps Trustees informed on topical issues and provides ongoing training where necessary.

Remuneration policy

The Remuneration Committee meets annually to review staff pay, including that of Key Management Personnel and senior staff. A formal remuneration policy has been adopted by the Charity such that an annual staffing audit is produced for information and discussion at this meeting which includes consideration of industry comparisons, the National Living Wage and the London Living Wage and the Institute of Groundsmen recommended salary scales and benchmarks/parameters for the Chief Executive salary. Trustees are not remunerated.

Page 2

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Objectives and activities

In setting the objectives and planning the activities of the Society, the Trustees have considered the Charity Commission’s general guidance on public benefit. The Society’s main objective is the protection, provision and promotion of playing fields in Greater London to encourage more people to take part in sport and physical activity. It caters particularly for the young, old, disabled and disadvantaged. It also provides resources and coaching facilities for students at schools, universities and colleges.

Our vision is to create a happier, healthier and more cohesive London by providing places to play sport forever.

We have four main beneficiary groups

  1. Schools, where a love for sport begins

  2. Clubs, colleges and universities where this love continues and flourishes

  3. Disadvantaged and underrepresented groups who for various reasons are unable to gain access to mainstream sporting opportunities

  4. The inactive who constitute half of the adult London population

The Council has paid due regard to guidance issued by the Charity Commission in deciding what activities the Society should undertake and, in reviewing this year’s activities, we have continued to remain faithful to our original objects, namely “to provide or assist in the provision of facilities for recreation or other leisure time activities in the interests of social welfare at places within or adjoining that area which formerly came within the administrative area of the Greater London Council including the provision of facilities for outdoor games and athletics for persons who by reasons of youth, age, infirmity or disablement, poverty or social and economic circumstances, may not otherwise have the opportunity to enjoy them.”

In this last year, we have continued to demonstrate:

We remain indebted to our founders who, back in 1890, foresaw the dangers of the rampant urbanisation of the capital and appreciated the need to protect its open spaces so that the growing population had somewhere to enjoy its sport. There are approximately 1,500 playing fields sites in London and with 85% of playing fields in London owned by a local authority or local education authority, the Society is the “go to” organisation that local community groups turn to when faced with the loss of a local playing field. Since 2008 the Society has been maintaining a Fields at Risk Register and over the last year has continued to assist in the protection of fields considered to be vulnerable to building development.

The Society owns the following grounds:

The strategic direction is set by the current Three Year Plan (2022-2025) and at each quarterly F&GP Committee and Council meeting, progress is measured against its key objectives. With the onset of the cost of living crisis which hit all charities hard from the beginning of 2022, priority was given to achieving financially sustainability, increasing fundraising and future proofing the grounds.

Page 3

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Achieving financial sustainability

As a charity that prides itself on providing accessible, affordable and attractive facilities, we cannot depend on hiring income alone to cover our operational costs because there is a return of only 33p for every pound invested in the management and maintenance of its pitches. Over time the Society has created additional revenue streams in order to be sustainable. Of the five sources of income only two - hiring income and commercial rents can be considered to be largely predictable and not susceptible to prevailing economic /societal conditions.

In the last year the Society had a total income of £1,733,375 and the following all made a contribution:

The Society does have a consultancy arm but due to capacity issues, it did not have any contracts in the past year.

In an attempt to secure additional reliable revenue streams the Society is actively seeking “sweating the assets” opportunities where non-pitch areas of its grounds can be used for commercial activities.

Increasing fundraising

The Society’s modus operandi for fundraising is to run events where guests can find out more about our work and be persuaded to become supporters. These events include the Gala Dinner at The Savoy, LPFS Quiz at The Oval and for 2024 a Golf Day at Woburn (however the latter took place on 2nd October so falls outside of this report). No complaints were received regarding the Society’s fundraising activities during the year.

The 2023 Gala Dinner raised a net £142,010 making it the fifth most successful Dinner after 2018 (£289K), 2019 (£187K), 2022 (£175,458) and 2017 (£154,670). Bearing in mind that the cost of a gold table was increased to £3,500, the Dinner Committee did remarkably well in selling 30 tables (of which six were platinum at £5,000) in the midst of a cost of living crisis.

The Live Auction produced an income of £35,000 and the Silent Auction raised £30,210. The subject of the 2023 Gala Dinner Pledge was raising funds for the new 3G pitch surface at Douglas Eyre Sports Centre and it netted an impressive £23,400.

Expenditure was £6K less than for 2022, and this can largely be attributed to having four fewer tables, negotiating a corkage deal for the wine and reducing printing costs.

The aggregate net total of all the Gala Dinners since 2011 is just £121,000 short of £2million so it is hoped that the 2024 event will see this milestone reached. Much credit is owned to the Gala Dinner Committee and its dynamic Chairman Nigel Goodman for their sterling efforts over the last decade.

The 2024 Quiz was the most successful Quiz making a record-breaking surplus of £34,173 which is £10K more than the previous high-water mark in 2023. From a position in mid-April where it looked like the minimum number of 23 tables might not be sold, there was a late surge and a record of 27 tables were sold. A similar increase in the number of auction items was also experienced with a stunning late Live Auction item in the shape of a set of six bottles of James Bond 60th Anniversary Macallan Whisky was received with a market value of £12,500. There were 28 Silent Auction items (the same as 2023) and seven Live Auction prizes (one more than last year). The table below illustrates how the fundraising output on the night has increased over the years.

Page 4

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Activity 2024 2023 2022 2021 2019
Heads&tails 3,170 3,175 2,680 1,674 1,588
Raffle 3,720 3,170 2,390 1,120 1,450
Silent auction 9,632 8,660 8,060 6,200 9,757
Live auction 18,100 13,500 4,950 13,750 8,900
Total 34,622 28,505 18,080 22,744 21,695

Future proofing the grounds

This year saw the completion of the boiler replacement and roof insulations works at LMPF Greenford. Thanks to a grant of £45,101 from London Marathon Foundation the vast majority of the boiler costs were covered and the more efficient plant meant that gas consumption was reduced by a third.

Having lasted for a remarkable twelve years the 3G artificial turf pitch at Douglas Eyre Sports Centre was replaced by Support In Sport in July 2024. The cost of the works which took seven weeks to complete was £225,088 and was covered by the pitch sinking fund and a Gala Dinner Pledge.

During the summer of 2024 the charity also benefitted from Football Foundation grants to replace the existing floodlights with LED lamps at both Douglas Eyre Sports Centre and Peter May Sports Centre. The overall cost of the replacement was £28,000 with the Football Foundation grant covering 70%. In addition to extending the life of the floodlights, the new bulbs should lead to a reduction in energy consumption.

The final piece of future proofing work was the boiler replacement at LMPF Redbridge which took place in September/October. The overall cost was £34,000 with once again London Marathan Foundation providing a grant, this time for £23,000 but this gain will be included in the 2024/25 accounts.

Highlights of the Year

Douglas Eyre Sports Centre 3G pitch replacement

As already mentioned, the subject of the Gala Dinner pledge was the resurfacing of the 3G pitch at Douglas Eyre Sports Centre, one of the most strategically important pitches in North East London. Having been intensively used since its installation in August 2012, plans were put in place 12 months in advance with SIS the original contractors to replace the surface as the pitch had been showing signs of wear and tear. The cost of the works was covered by the pitch sinking fund and a pledge at the 2023 Gala Dinner. Prior to the works, which we completed in July 2024, the pitch had:

With is new splendid playing surface and LED floodlights, the pitch has won plaudits from many quarters.

Page 5

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Coping Through Football Phase 6 begins

After having to extend Phase 5 (2020 - 2023) by an additional year because of funding uncertainty, it was a relief to launch Phase 6 (2024-2027) in March thanks to a commitment from NELFT (North East London Foundation Trust) to provide an additional £156,000 and a £150,000 grant from Waltham Forest Public Health. Coping Through Football is a groundbreaking multi-agency project involving London Playing Fields Foundation, Leyton Orient Trust and NELFT, that provides six sessions per week for 50 weeks of the year at Fairlop Oak Playing Field and Douglas Eyre Sports Centre. The project uses football and the environment around it to engage with individuals who are often reluctant or hesitant to accept mental health services. Many participants report experiencing barriers to accessing services, and of the two hundred or so participants who attend over the course of the year we know that for many the project is the only consistent mental health support they may receive.

The project, which is underpinned by robust clinical governance and an agreed set of key performance indicators, does have a transformational impact an people lives as evidenced by a number of case studies. We spoke to a mother of one of our youngest participants about the impact Coping Through Football has had on her son’s life and this is Raequan’s story.

Raequan was referred to Coping Through Football aged nine by Children and Adolescent Mental Health Services as I had informed them he had no social inclusion with children his age and his mental health was severely deteriorating after he had been permanently excluded from the Pupil Referral Unit. He had been attending the PRU since the age of five, this was his third permanent exclusion. He could not cope in a mainstream setting and struggled with unexpected changes to his routine.

He had lost his trust in people of authority after a school accident aged five led to a severe break to his arm which required surgery. He had three failed attempts of reintegration back into three mainstream schools without any Special Educational Needs support and he quickly became isolated from society.

Coping Through Football was a catalyst of the beginning for him. Over time he built trust, understanding and solidified friendships with peers of all ages within the Coping Through Football community. He attends every Tuesday afternoon, and you can see how much he has blossomed into the lovely, funny, kind and caring young child we all know and love today.

In March 2022 Raequan was accepted by a specialist school out of borough where he continues to make us as a family proud every day. He attends Powerleague each week with his school and is a solid part of the school football team and actually plays with the older children ages between 14-16 years old. His teachers are extremely proud of him and concur that he is a leader within his environment who also recognises when to help others. He has gone on to win awards for fantastic behaviour, came home with several medals at sports day and is his school’s People Ambassador. I am thankful to Coping Through Football as I feel they were able to aid my child at a time when we all felt like we didn’t have any fight left. My son eats, breathes and sleeps football and Coping Through Football has assisted him in making the right choices and improved his own mental health. My son felt discarded from society when he first joined Coping Through Football, however the project gave him a safe space to enjoy what he loves and for that I will forever be grateful.

Page 6

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

HRH 50th Anniversary Event on 18th September

HRH The Duke of Gloucester celebrated his 50th year as LPFS Patron (and coincidentally his 80th birthday) with the official opening of the new 3G pitch on Wednesday 14th September. It was almost 35 years to the day since The Duke formally opened the new Gloucester Pavilion at Douglas Eyre in September 1989.

The event which attracted 45 guests, took place on a lovely late summer afternoon. Douglas Eyre Sports Centre looked resplendent and, on the brand new 3G surface, four local schools took park in a friendly Under 13 Girls’ 7v7 tournament. Following speeches from the President Kate Hoey and Alex Welsh, HRH took centre stage and spoke about his tenure as LPFS Patron after which he received a commemorative book of LPFS related photographs. He then unveiled a plaque marking his 50th Anniversary as Patron before moving outside to cut the ribbon on the 3G artificial pitch.

All in all, it was a wonderfully uplifting afternoon which showed LPFS at its best.

People

There were a number of changes to the Trustee Board and Head Office staff during the year.

Firstly the Honorary Treasurer Dennis Hone CBE had to stand down, due to health reasons, after nine years of sterling service. Having been CEO of the Olympic Delivery Authority and the London Legacy Development Agency, Dennis’ recruitment (via Sally Hopper’s introduction) as Honorary Treasurer in 2014 was a huge coup for the charity given his vast knowledge and experience. Having his steady and reassuring hand at the helm over the past nine years has been invaluable especially in 2020 when the pandemic hit causing unprecedented uncertainty. Dennis fitted perfectly into the existing culture of the LPFS Council. Unfailingly helpful, professional, collaborative and forward thinking, he chaired the F&GP Committee with sound judgment and a light touch. He deserves profound thanks for his contribution to the charity.

His replacement was Neil Greenwood MBE , a chartered accountant of vast relevant experience having been Executive Director of Finance and Corporate Services at the Natural History Museum for the past 25 years. He is also Governor of the Guildhall School of Music and Drama, a trustee of the British Science Association and serves as an independent member of the University of Roehampton Finance and Resources Committee.

Another long standing Trustee who retired from the charity in March was Andy Sutch . After 27 years as a Trustee and at least another ten years of strategic support as Sport England Regional Director for London, his contribution to the LPFS cause cannot be overstated.

A massive champion for playing fields and the sports played on them, it was no accident that once the Sports Lottery was launched in 1994, the Foundation become one of the early beneficiaries of significant capital grants for Peter May Sports Centre and Fairlop Oak Playing Field. Not satisfied with merely modernising the LPFS’s current stock of playing fields, Andy showed the instincts of a bloodhound in identifying vulnerable sports grounds and then mediating with Sport England and London Marathon Charitable Trust to ensure that LPFS stepped in to save the day on three separate sites in Greenwich, Redbridge and Greenford over the space of eight years. Thanks to Andy’s vision the Foundation had moved from an organisation that disposed of playing fields to a one that rescued them.

As Chair of the Funding and Communications Committee for twelve years and more recently on the Quiz Organising Committee, his passion, commitment and innovative thinking were such an inspiration for staff and fellow trustees alike and his presence will be sorely missed.

Deepani de Silva joined the Society as a Trustee in June 2024. She is a qualified accountant (FCCA) with over 15 years’ experience in senior management, mainly with registered providers.

Page 7

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

One of our longest serving members of staff Jeff Neslen retired in February. His contribution as Development Manager since joining the Foundation in 2008 across so many aspects of the charity’s work has been incalculable. With unparalleled knowledge and experience of the sports sector his output was prodigious. His role in bringing in over £2million of capital investment, overseeing the LPFS’ protection function including the Fields at Risk Register and Playing Fields Charter, conducting the annual grounds’ performance review, leading on our first ever Golf Day and making a major input into several Three Year Plans has meant that the Society has prevailed despite many challenges and continued to punch well above its weight

Jeff’s replacement as Development Manager was Dermot Collins who joined on a two day per week basis from March. Dermot is vastly experienced and has enjoyed twelve significant roles (including The FA and Sports England) in his career spanning elite international sport, the leadership of national sports programmes, detailed grassroots delivery, sports consultancy, the production of organisational, developmental and campaign strategies, the management of a local authority sports development team, and initiating a new local authority service area. There is little doubt that he will prove a great asset to the charity.

Henry DiStasio left his position as Booking and Administration Officer in November after three years with the Foundation and was replaced by Jade Slater .

Financial review

The net expenditure for the year before revaluation of investments amounted to £285,387 (2023 - £419,476). This takes account of total income for the year for the Group amounting to £1,733,375 (2023 - £1,682,020) including restricted grants of £201,190 (2023 - £144,353), less total expenditure for the year amounting to £2,018,762 (2023 - £2,101,496). After adjusting for depreciation on fixed assets for the year amounting to £346,291 (2023 - £325,506), the net income for the year amounted to £60,904 including net restricted funds of £48,363 (2023 - £93,970 net expenditure) which reflects the underlying financial position of the Society in that income from usage of grounds remains insufficient to cover all necessary operational and maintenance costs, and to generate funds for the essential capital investment in facilities.

The net movement in Group Funds for the year which reflects the net expenditure including the impact of depreciation, and the movement in the valuation of investments, was a decrease of £47,362 (2023 – a decrease of £378,315). This comprised a decrease in unrestricted funds of £95,725 (2023 – £373,349) and an increase in restricted funds of £48,363 (2023 – decrease of £4,966).

As a result, the total Group Funds at the year end amounted to £7,291,698 (2023 - £7,339,060) of which £5,889,395 (2023 - £5,985,120) was unrestricted and £1,402,303 (2023 - £1,353,940) was restricted. The total Group funds can be further analysed between tangible fixed assets (predominantly the playing fields and associated leisure facility buildings owned by the Society) and other assets being fixed asset investments and net current assets which represent those reserves designated and held for future capital investment, those held as free unrestricted general reserves, or held as restricted grant funding yet to be spent. This position can be summarized as follows:

Page 8

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Analysis of Total Funds at 30 September 2024:

Tangible fixed assets
Investments
Net current assets		 Unrestricted
£
3,458,905
2,343,291
87,199
2,430,490
5,889,395		 Restricted
Total
£
£
1,248,232
4,707,137
2,343,291
154,071
241,270
154,071
2,584,561
-
1,402,303
7,291,698

Capital expenditure for the year amounted to £338,665 (2023 £44,500) including a replacement pitch and improved lighting at Douglas Eyre Sports Centre, improved lighting at Peter May Sports Centre, and a replacement boiler at London Marathon Playing Field Greenford.

Subsidiary

The Society has a wholly owned subsidiary, Wadham Lodge Sports Centre Limited. The principal activity of the Company is the hiring out of sports facilities, the company made a profit for the year of £221,898 (2023: £216,795) and gift aided £266,793 (2023: £334,110) to the Charity (see Note 16).

Reserves policy

On an annual basis the Trustees review and approve the reserves policy, taking account of the key risks faced by the Society and the level of readily available reserves (i.e. the investments and net current assets, and excluding those funds that are restricted or tied up as tangible fixed assets). This provided readily available reserves at 30 September 2024 amounting to £2,430,490 (2023 £2,518,727) and this was allocated as follows:

Readily available reserves at 30 September 2024

General Reserve
Capital Expenditure Fund
Total		 2024
£
1,735,268
695,222
2,430,490		 2023
£
1,279,594
1,239,133
2,518,727

The purpose of the General Reserve is to manage cashflow and to mitigate the risk of a significant drop in income or major unforeseen or uninsured incident, and allow the Society to continue operating whilst having sufficient time to consider and implement mitigation plans eg raising additional funds. The Trustees have approved a level of General Reserve equivalent to at least twelve month’s general fund unrestricted expenditure excluding depreciation which in line with the approved expenditure budget for 2024-25 amounted to £1,735,268.

Page 9

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

The purpose of the Capital Expenditure Fund which is a designated fund, is to provide funds for capital investment for major maintenance and refurbishment and equipment, and ultimately replacement of the Society’s tangible fixed assets, specifically, the playing fields and associated leisure facility buildings. In 2021 the Trustees made a total provision amounting to £1,700,000 including £800,000 for a new pavilion and artificial pitch at Boston Manor, £400,000 for replacement of major M&E plant at Douglas Eyre Sports Centre, £100,000 for reinstatement and improvements to Avenue Park stadium and £400,000 for the major refurbishment of the pavilion at Redbridge. During 2021-22, £416,367 was used for the replacement of the boilers at Douglas Eyre Sports Centre, a further £44,500 was spent in September 2023 on other assets including a tractor, and £338,665 was spent during 2023-24 on a replacement pitch and improved lighting at Douglas Eyre Sports Centre, improved lighting at Peter May Sports Centre, and new boilers at the London Marathon Playing Field, Greenford. The fund balance available at 30 September 2024 for future capital investment amounted to £695,222. Investment plans for 202425 include a replacement tractor for LMPF Greenwich, new windows at Boston Manor and an upgraded storage facility at Boston Manor. Future years plans include the refurbishment of pavilions at Boston Manor and Avenue Park Greenford, and pitch replacements.

In looking forward to 2024-25, the Society has prioritised the replacement of the boilers at London Marathon Playing Field, Redbridge which will be supported by the Capital Expenditure Fund.

These reserves are underpinned by investment assets which are subject to market uncertainty and volatility and therefore could reduce significantly if there is a downturn in the global markets.

Investment policy

The Trustees have the power to make and hold investments using the general funds of the Society and to change investment allocations based on the advice of professional advisors. The Trustees also have the authority to appoint professional investment managers at a reasonable remuneration and have placed limited constraints on their investment managers in respect of holding investments. The investment portfolio is managed by Cazenove Capital. The main long-term objective for the portfolio is to achieve an average annual return of inflation (UK CPI) plus 3.5%, in the year to September 2024 a return of 12.5% was achieved. The Society has adopted an ethical investment policy. This policy ensures that the Society’s assets are invested in line with its aims. The investment policy has been reviewed, updated and approved by the Trustees in May 2024.

Risk management

The Council Members review the risk register on an annual basis and actively manage the major risks which the Society faces.

The most immediate major risk is the impact and uncertainty of the recent high levels of inflation, the significant increase and volatility in energy costs and the increase in employer costs. To mitigate the risk, impact on operational expenditure and provide resilience, the Council Members approved maintaining reserves at a level at least equivalent to twelve months’ general fund operating expenditure less depreciation.

The other major risk is that the Society’s facility buildings fall below statutory requirements and the level of amenity for users becomes unacceptable forcing the grounds to close. The Society has therefore set aside an unrestricted designated fund, the Capital Expenditure Fund, to cover major maintenance and refurbishment of its buildings, plant and machinery. The level of this fund was initially set at £1,700,000 in 2021 and has been revised to reflect subsequent capital expenditure, and now amounts to £695,222. In addition, the Society will continue to seek and bid for grant funding for capital investment.

Page 10

THE LONDON PLAYING FIELDS SOCIETY

TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

Plans for the future

2024-25 is the third and final year of the Society’s Three Year Plan, where the focus is on achieving operational sustainability via the 4 M’s Model - modernising, managing, marketing, and maintaining its facilities so that they are accessible, affordable and attractive.

The Society can take some satisfaction in seeing the results of taking a more pragmatic approach which focused on achieving financial stability, increasing fundraising and future proofing the grounds. Specifically, there was an operational surplus before depreciation of £61k with expenditure being £108k less than budget.

The future proofing (modernisation) drive continued with the replacement of the boiler at LMPF Redbridge, a new 3G surface at Douglas Eyre Sports Centre and new LED floodlights at Peter May and Douglas Eyre Sports Centres. The boiler works were part funded (67%) by London Marathon Foundation and the LED floodlight replacements benefitted from a 70% grant from the Football Foundation.

Event income was £97,000 down on budget but the Quiz at The Oval did raise a record amount (£34,000). Funding was secured from NELFT and Waltham Forest Public Health which meant that Phase 6 (2024-2027) of Coping Through Football could commence in March 2024.

Year Three of the Three Year Plan will still focus on financial sustainability but, there will be focus on “sweating the assets” and identifying non-pitch areas of the Society’s grounds from which an additional source of regular guaranteed income can be derived.

The eight themes of the Three Year Plan cover the following inter-connected themes:

  1. Achieving financial stability

  2. Increasing fundraising

  3. Future proofing the grounds

  4. Creating more active communities

  5. Putting succession plans in place for staff and Trustees

  6. Using social media to increase the Foundation’s profile

  7. Seeking sustainable expansion opportunities

  8. Improving sustainability by working towards a net zero carbon position

A resolution to reappoint MHA as independent auditor will be proposed at the next Annual General Meeting.

Approved by order of the Members of the Board of Trustees and signed on its behalf by:

…………………………

Neil Greenwood Trustee Date: 10/03/2025

Page 11

THE LONDON PLAYING FIELDS SOCIETY

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Approved by order of the Members of the Board of Trustees and signed on its behalf by:

................................................

Neil Greenwood Trustee

Date: 10/03/2025

Page 12

THE LONDON PLAYING FIELDS SOCIETY

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON PLAYING FIELDS SOCIETY

Opinion

We have audited the financial statements of The London Playing Fields Society (the ‘Parent Charity’) and its subsidiaries (the ‘Group’) for the year ended 30 September 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the Group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s or the Parent Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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THE LONDON PLAYING FIELDS SOCIETY

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON PLAYING FIELDS SOCIETY (CONTINUED)

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor’s Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group’s and Parent Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent Charity company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Page 14

THE LONDON PLAYING FIELDS SOCIETY

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE LONDON PLAYING FIELDS SOCIETY (CONTINUED)

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/auditorsresponsibilities. This description forms part of our Auditor’s Report.

Use of this report

This report is made solely to the Group and Charity’s Trustees, as a body, in accordance with Part 4 of Part Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Group and Charity’s Trustees those matters we are required to state to them in an Auditor’s Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

MHA

Statutory Auditor London, United Kingdom

Date: 20/03/2025

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)

Page 15

THE LONDON PLAYING FIELDS SOCIETY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net (expenditure) before revaluation
of investments
Revaluation of investments
16
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
146,259
1,138,829
208,139
38,958		 Restricted
funds
2024
£
-
201,190
-
-		 Total
funds
2024
£
146,259
1,340,019
208,139
38,958		 Total
funds
2023
£
156,253
1,221,581
264,748
39,438
1,682,020
187,752
1,913,744
2,101,496
(419,476)
41,161
(378,315)
7,717,375
(378,315)
7,339,060
1,532,185 201,190 1,733,375
197,109
1,668,826		 -
152,827		 197,109
1,821,653
1,865,935 152,827 2,018,762
(333,750)
238,025		 48,363
-		 (285,387)
238,025
(95,725) 48,363 (47,362)
5,985,120
(95,725)		 1,353,940
48,363		 7,339,060
(47,362)
5,889,395 1,402,303 7,291,698

All income and expenditure derive from continuing activities.

The notes on pages 20 to 42 form part of these financial statements.

Page 16

THE LONDON PLAYING FIELDS SOCIETY

CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2024

Note
Fixed assets
Tangible fixed assets
15
Investments
16
Current assets
Debtors: Amounts falling due within one year
17
Cash at bank and in hand
22
Creditors: Amounts falling due within one
year
18
Net current assets
Total net assets
Group funds
Restricted funds
19
Unrestricted funds
19
Total funds		 2024
£
334,907
726,889		 2024
£
4,707,137
2,343,291
7,050,428
241,270
7,291,698
1,402,303
5,889,395
7,291,698		 2023
2023
£
£
4,714,763
2,117,380
6,832,143
348,853
764,873
1,113,726
(606,809)
506,917
7,339,060
1,353,940
5,985,120
7,339,060		 2023
£
4,714,763
2,117,380
1,061,796
(820,526)
7,339,060
1,353,940
5,985,120
7,339,060

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

----- Start of picture text -----
................................................
----- End of picture text -----

................................................ ................................................ The Hon William Cadogan Neil Greenwood Trustee Trustee Date: 10/03/2025 Date: 10/03/2025

The notes on pages 20 to 42 form part of these financial statements.

Page 17

THE LONDON PLAYING FIELDS SOCIETY

CHARITY BALANCE SHEET AS AT 30 SEPTEMBER 2024

Note
Fixed assets
Tangible fixed assets
15
Investments
16
Current assets
Debtors: Amounts falling due within one year
17
Cash at bank and in hand
Creditors: Amounts falling due within one
year
18
Net current assets
Total net assets
Charity funds
Restricted funds
Unrestricted funds
Total funds		 2024
£
367,086
617,857		 2024
£
4,707,137
2,343,293
7,050,430

169,365
7,219,795
1,402,303
5,817,492
7,219,795		 2023
2023
£
£
4,714,763
2,117,382
6,832,145
405,544
586,467
992,011
(601,888)
390,123
7,222,268
1,353,940
5,868,328
7,222,268		 2023
£
4,714,763
2,117,382
984,943
(815,578)
7,222,268
1,353,940
5,868,328
7,222,268

The Charity's net movement in funds for the year was deficit £ 2,473 (2023 - deficit £ 260,999 ).

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

----- Start of picture text -----
................................................
----- End of picture text -----

................................................ ................................................ The Hon William Cadogan Neil Greenwood Trustee Trustee Date: 10/03/2025 Date: 10/03/2025

The notes on pages 20 to 42 form part of these financial statements.

Page 18

THE LONDON PLAYING FIELDS SOCIETY

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Cash flows provided by operating activities
Note
Net cash used in operating activities
21
Cash flows from investing activities
Investment income
7
Purchase of tangible fixed assets
15
Proceeds from sale of investments
16
Purchase of investments
16
Cash movement on investments
16
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
22
The notes on pages 20 to 42 form part of these financial statements.		 2024
£
249,609		 2023
£
(75,172)
38,958
(338,665)
397,025
(429,625)
44,714		 39,438
(44,500)
712,680
(643,456)
(24,079)
(287,593) 40,083
(37,984)
764,873		 (35,089)
799,962
726,889 764,873

Page 19

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. General information

The London Playing Fields Society operating under the name of the London Playing Fields Foundation is a registered Charity and is registered with the Charity Commission (Charity Registered Number: 302925).

The address of the registered office is given in the Group and Charity information on page 1 of these financial statements.

The nature of the Group and Charity's operations and principal activities are detailed within the Trustees Report.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The London Playing Fields Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements have been presented in sterling, which is also the functional currency of the Group and are rounded to the nearest pound.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

Page 20

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.2 Income

Income is included in the Consolidated Statement of Financial Activities (SOFA) when the Group is legally entitled to the income, the amount can be quantified, and its receipt is probable. No amounts are included in the financial statements for services donated by volunteers. Income is deferred where it relates to a service to be provided in a future accounting period or the grant is specified by the funder as being for a future accounting period.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

2.3 Government grants

The Charity receives government grants. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

2.4 Expenditure

Expenditure is accounted for on an accruals basis. Expenditure includes any VAT which cannot be fully recovered.

Expenditure on raising funds includes all expenditure incurred by the Group associated with attracting voluntary income, running events and managing the Group’s investments.

Charitable expenditure comprises those costs incurred by the Group in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Expenditure which is directly attributable to specific activities has been included in these costs categories. Where costs are attributable to more than one activity, e.g. support costs, they have been apportioned across the cost categories on a basis consistent with the use of these resources. Support costs comprise principally Head Office running costs. Where Head Office staff support more than one activity their salary is apportioned on a percentage basis across the cost categories. Governance costs are included within support costs.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 21

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold land - not depreciated Buildings erected on or after - 2.5% per annum, straight-line 1988

Plant and machinery - 10% per annum, straight-line Fixtures, fittings and equipment - 20% per annum, straight-line

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Revaluation of investments’ in the Consolidated Statement of Financial Activities.

Following a review of the accounting policies the Trustees have chosen to adopt the mark to market basis of accounting for investments. Accordingly investments are continuously measured at their fair value and as such no realised gains or losses arise in the year.

Investments in subsidiaries are valued at cost less provision for impairment.

2.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 22

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.

2.11 Operating leases

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight line basis over the lease term.

2.12 Going concern

The Trustees have assessed the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the Group and Charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. The Trustees have concluded that there is a reasonable expectation that the Group and Charity has adequate resources to continue in operational existence for the foreseeable future. The Group and Charity therefore continues to adopt the going concern basis in preparing its financial statements. The Trustees have concluded that there are no material uncertainties in relation to going concern.

2.13 Financial instruments

The Group does not have a material holding in complex financial instruments. The Group only holds basic financial instruments. The financial assets and liabilities of the Group are as follows:

Debtors – trade and other debtors (including accrued income) are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 17. Prepayments are not financial instruments.

Cash at bank – is classified as a basic financial instrument and is measured at face value.

Liabilities – trade creditors, accruals and other creditors will be classified as financial instruments and are measured at amortised cost as detailed in Note 18. Taxation and social security are not included in the financial instruments disclosure. Deferred income is not deemed to be a financial liability, as in the cash settlement has already taken place and there is simply obligation to deliver charitable services rather than cash or another financial instrument.

Page 23

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.14 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.15 Employee benefits

When employees have rendered service to the Group, short-term employee benefits to which employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The Group operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. Critical accounting estimates and areas of judgement

There are no material judgments or key sources of estimation uncertainty that are considered to have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities in this financial year or within the next financial year.

Page 24

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. Income from donations and legacies

Donations
Donations
Legacies		 Unrestricted
funds
2024
£
146,259
146,259
Unrestricted
funds
2023
£
156,253
-
156,253		 Total
funds
2024
£
146,259
146,259
Total
funds
2023
£
156,253
-
156,253

Page 25

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. Income from charitable activities

Unrestricted
funds
2024
£
Hiring charges
602,519
Other ground activities
11,450
Rental income
475,278
Catering
34,547
Other income
15,035
Total 2024
1,138,829		 Restricted
funds
2024
£
-
201,190
-
-
-
201,190		 Total
funds
2024
£
602,519
212,640
475,278
34,547
15,035
1,340,019
Hiring charges
Other ground activities
Rental income
Catering
Other income
Total 2023		 Unrestricted
funds
2023
£
485,273
32,566
513,106
28,841
17,442
1,077,228		 Restricted
funds
2023
£
-
144,353
-
-
-
144,353		 Total funds
2023
£
485,273
176,919
513,106
28,841
17,442
1,221,581

Included within income relating to other ground activities are the following restricted government grants:

• London Borough of Waltham Forest - £25,000 (2023 - £60,000)

There are no unfulfilled conditions or other contingencies attached to the government grants above.

Page 26

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. Income from other trading activities

Annual Quiz
Gala Dinner
Other trading income
Total 2024
Annual Quiz
Gala Dinner
Other trading income
Total 2023		 Unrestricted
funds
2024
£
57,987
151,032
(880)
208,139
Unrestricted
funds
2023
£
56,147
193,601
15,000
264,748		 Total
funds
2024
£
57,987
151,032
(880)
208,139
Total
funds
2023
£
56,147
193,601
15,000
264,748

7. Investment income

Income from listed investments
Income from listed investments
Bank interest		 Unrestricted
funds
2024
£
38,958		 Total
funds
2024
£
38,958
38,958
Unrestricted
funds
2023
£
37,963
1,475
39,438		 38,958
Total
funds
2023
£
37,963
1,475
39,438

Page 27

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. Expenditure on raising funds

Other raising funds
Costs of generating donations and grants
Fundraising event costs
Investment management costs
Total 2024		 Unrestricted
funds
2024
£
82,652
98,697
15,760
197,109		 Total
funds
2024
£
82,652
98,697
15,760
197,109
Other raising funds
Costs of generating donations and grants
Fundraising event costs
Investment management costs
Total 2023		 Unrestricted
funds
2023
£
73,302
99,518
14,932
187,752		 Total
funds
2023
£
73,302
99,518
14,932
187,752

Page 28

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. Analysis of expenditure on charitable activities - by fund

Unrestricted Restricted Total
funds funds funds
2024 2024 2024
£ £ £
1,668,826 152,827 1,821,653
Unrestricted Restricted Total
funds funds funds
2023 2023 2023
£ £ £
Unrestricted
funds
2024
£		 Restricted
funds
2024
£		 Total
funds
2024
£
Grounds
Grounds		 1,668,826
Unrestricted
funds
2023
£		 152,827
Restricted
funds
2023
£		 1,821,653
Total
funds
2023
£
1,764,425 149,319 1,913,744

10. Analysis of expenditure on charitable activities - by type

Grounds
Grounds		 Activities
undertaken
directly
2024
£
1,416,297
Activities
undertaken
directly
2023
£
1,466,833		 Support
costs
2024
£
405,356
Support
costs
2023
£
446,911		 Total
funds
2024
£
1,821,653
Total
funds
2023
£
1,913,744

Page 29

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. Analysis of expenditure on charitable activities - by type (continued) Analysis of support costs

Staff costs
Grounds expenditure
Governance costs
11.
Governance costs
Auditor's remuneration - Audit services
Auditor's remuneration - Non-Audit services
Auditor's remuneration – Under/(Over) accrual of prior year fees
Auditor's remuneration - Bookkeeping and VAT services
12.
Auditor's remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
Taxation compliance services
Bookkeeping and VAT services		 Total
funds
2024
£
232,849
153,266
19,241		 Total
funds
2023
£
221,402
197,859
27,650
405,356 446,911
2024
£
17,700
6,059
(4,518)
-		 2023
£
15,800
1,000
8,500
2,350
19,241 27,650
2024
£
17,700
6,059
-		 2023
£
15,800
1,000
2,350

Page 30

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

13. Staff costs

Wages and salaries
Social security costs
Pension costs		 Group
2024
£
717,736
61,899
33,734
813,369		 Group
2023
£
695,057
54,374
27,884
777,315		 Charity
2024
£
717,736
61,899
33,734
813,369		 Charity
2023
£
695,057
54,374
27,884
777,315

The average number of persons employed by the Group during the year was as follows:

Grounds staff
Management and administration		 Group
2024
No.
26
6
32		 Group
2023
No.
24
5
29		 Charity
2024
No.
26
6
32		 Charity
2023
No.
24
5
29

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group Group
2024 2023
No. No.
In the band £100,001 - £110,000 1 1

The total amount of employee benefits received by Key Management Personnel is £123,986 (2023 - £118,959). The Charity considers its Key Management Personnel to be the CEO and the Trustees.

Page 31

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

14. Trustees' remuneration and expenses

During the year, no Trustees received or waived any remuneration or other benefits (2023 - £NIL) .

During the year, no Trustee expenses have been incurred (2023 - £NIL) .

15. Tangible fixed assets

Group and Charity

Cost or valuation
At 1 October 2023
Additions
Disposals
At 30 September 2024
Depreciation
At 1 October 2023
Charge for the year
Disposals
At 30 September 2024
Net book value
At 30 September 2024
At 30 September 2023		 Land and
buildings
£
9,980,639
-
-
9,980,639
5,745,433
257,054
-
6,002,487
3,978,152
4,235,206		 Plant and
machinery
£
1,378,449

337,051

(221,904)		 Fixtures and
fittings
£
60,283
1,614
(30,737)
31,160
57,576
1,208
(30,737)
28,047
3,113
2,707		 Total
£
11,419,371
338,665
(252,641)

1,493,596		 11,505,395

901,599

88,029

(221,904)		 6,704,608
346,291
(252,641)

767,724		 6,798,258

725,872		 4,707,137

476,850		 4,714,763

Land and buildings include land of £428,743 (2023 - £428,743) which is not depreciated.

Land and buildings are freehold with the exception of £700,000 of buildings and £48,412 of land in respect of London Marathon Playing Field Greenford which is long leasehold.

The Society’s sports grounds and buildings are for functional use and therefore have not been re-valued.

Page 32

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

16. Fixed asset investments

Group
Cost or valuation
At 1 October 2023
Additions
Disposals at carrying value
Revaluation
Movement in cash
At 30 September 2024		 Listed
investments
£
1,991,443
429,625

(397,025)
238,025

-
2,262,068		 Cash held
as part of
investment
portfolio
£
125,937
-
-
-
(44,714)
81,223		 Total
£
2,117,380
429,625
(397,025)
238,025
(44,714)
2,343,291
Charity
Cost or valuation
At 1 October 2023
Additions
Disposals at carrying value
Revaluation
Movement in cash
At 30 September 2024		 Listed
investments
£

1,991,443
429,625

(397,025)
238,025

-

Cash held
as part of
investment
portfolio
£
125,937
-
-
-
(44,714)



Investment
in subsidiary
company
£
2
-
-
-
-
2		 Total
£

2,117,382

429,625

(397,025)

238,025

(44,714)

2,343,293
2,262,068 81,223

Page 33

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. Fixed asset investments (continued)

Principal subsidiaries

The following was a subsidiary undertaking of the Charity:

Name Company Class of Holding Included in number shares consolidation Wadham Lodge Sports Centre Limited 02933068 Ordinary 100% Yes The financial results of the subsidiary for the year were: Name Income Expenditure Profit Net assets £ £ for the year £ £ Wadham Lodge Sports Centre Limited 244,016 (22,118) 221,898 71,900

The wholly owned trading subsidiary, Wadham Lodge Sports Centre Limited, is incorporated in England and Wales (Company Registered Number 02933068). The registered office address of Wadham Lodge Sports Centre Limited is 58 Bloomsbury Street, London, WC1B 3QT.

Wadham Lodge Sports Centre Limited undertakes the trading activities of its Parent Charity, The London Playing Fields Society (Charity Registered Number 302925) and pays all of its profits to the Parent Charity under the gift aid scheme.

In both financial years all income and expenditure was allocated to Unrestricted funds.

The transfer under gift aid of the trading profits of Wadham Lodge Sports Centre Limited as a distribution to the Charity was £266,793 (2023 - £ 334,118 ) . On consolidation a number of Group transactions have been eliminated. The amounts owed from Wadham Lodge Sports Centre Limited to the Charity at 30 September 2023 was £32,179 (2023 - £ 106,395 ) .

A summary of the financial performance of the subsidiary in isolation is above.

Page 34

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

17. Debtors

Due within one year
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income		 Group
2024
£
266,079
-
68,828		 Group
2023
£

284,876
-

63,977		 Charity
2024
£
266,079
32,179
68,828		 Charity
2023
£
235,172
106,395
63,977
334,907 348,853 367,086 405,544

18. Creditors: Amounts falling due within one year

Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
VAT payable
Accruals and deferred income
Deferred income
Deferred income at 1 October
Resources deferred during the year
Amounts released from previous periods
Deferred income at 30 September		 Group
2024
£
282,602
-
-
10,191
527,733		 Group
2023
£
140,940

16,624
-

18,462
430,783
Charity
2024
£
281,402
-
-
10,191
523,985		 Charity
2023
£
139,769
16,624
-
18,462
427,033
820,526 606,809 815,578 601,888
Group
2024
£
406,703
501,294
(406,703)		 Group
2023
£
76,767
406,703
(76,767)		 Charity
2024
£
406,703
501,294

(406,703)		 Charity
2023
£
76,767
406,703
(76,767)
501,294 406,703 501,294 406,703

Deferred income at both the current and prior year-ends related to future fundraising events, multi-year grant funding, pitch hire contracts, and rent invoiced in advance.

Page 35

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Fixed Assets Fund
Capital Expenditure Fund
General funds
Unrestricted general funds
Revaluation reserve
Total Unrestricted funds
Restricted funds
The London Marathon
Charitable Trust Fund
Coping Through Football
Bernard Sunley
Charitable Foundation
The Football Foundation
Green Hearts
The Big Give
Girls’ Hub
Total of funds		 Balance at
1 October
2023
£
3,466,393
1,239,133
4,705,526
565,447
714,147
1,279,594
5,985,120
1,090,210
98,282
3,635
154,525
2,313
4,975
-
1,353,940
7,339,060		 Income
£
-
-
-
1,532,185
-
1,532,185
1,532,185
43,476
114,072
-
39,182
-
-
4,460
201,190
1,733,375		 Expenditure

£
(263,495)
-
(263,495)
(1,602,440)
-
(1,602,440)
(1,865,935)
(56,156)
(70,031)
-
(26,640)
-
-
-
(152,827)
(2,018,762)		 Transfers
in / out
£
256,007
(543,911)
(287,904)
287,904
-
287,904
-
-
-
-
-
-
-
-
-
-		 Gains /
(Losses)

£
-
-
-
-
238,025
238,025
238,025
-
-
-
-
-
-
-
-
238,025		 Balance at
30
September
2024

£
3,458,905
695,222
4,154,127
783,096
952,172
1,735,268
5,889,395
1,077,530
142,323
3,635
167,067
2,313
4,975
4,460
1,402,303
7,291,698

Page 36

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. Statement of funds (continued)

Designated fund

The Fixed Asset Fund represents the net book value of the fixed assets owned by the Group after depreciation which do not form part of the restricted funds. The transfer in of £256,007 reflects capital expenditure in year from unrestricted funds.

The Capital Expenditure Fund represents funds available and designated for major refurbishment and eventual replacement of grounds’ buildings within the next ten years, and for major pitch and machinery expenditure. Investment plans for 2024-25 include a replacement tractor for LMPF Greenwich, new windows at Boston Manor and an upgraded storage facility at Boston Manor. Future years plans include the refurbishment of pavilions at Boston Manor and Avenue Park Greenford, and pitch renovation works. The transfer out of £543,911 reflects a movement to the unrestricted general reserve to support the approved minimum level of General Fund Reserve.

General fund

The Unrestricted general funds reflect funds which are available for use at the 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 net revaluation gains and losses recorded to Fixed asset investments.

The purpose of the General Fund in total is to manage cashflow and to mitigate the risk of a significant drop in income or major unforeseen or uninsured incident, and allow the Society to continue operating whilst having sufficient time to consider and implement mitigation plans e.g. raising additional funds. The Trustees have approved a level of General Fund equivalent to at least twelve months’ general fund unrestricted expenditure excluding depreciation which in line with the approved expenditure budget for 2024-25 amounted to £1,735,268.

Restricted funds

The London Marathon Charitable Trust Fund

The London Marathon Charitable Trust Fund comprises 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 the artificial turf pitch (ATP) at Peter May Sports Centre , £20,000 grant funding for new gates at Avenue Park, along with grant funding towards the new boilers at Greenford and Redbridge. The movement on this fund represents the depreciation charge on these three grounds , artificial turf pitch and boiler.

The Coping Through Football Fund

The Coping Through Football Fund is applied in support of the Coping Through Football programme. This is being used to expand the Coping Through Football project, which helps people with mental health problems get their lives back on track and across our London boroughs. Income represents donations from The Sackler Family, Khayami Foundation and LBWF Public Health.

The Football Foundation

The Football Foundation Fund represents grant funding received from the Premier League and FA Facilities Fund for the new ATP at Peter May Sports Centre, along with grant funding towards LED lighting at Douglas Eyre and Peter May. The expenditure represents the depreciation charge on the ATP and LED lighting.

Page 37

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. Statement of funds (continued)

The Big Give

£7,000 was raised in the Big Give Christmas Challenge in prior years to fund Kick-start Coaching courses. Kick-start Coaching is a project which helps disadvantaged Londoners improve their lives by gaining sports coach qualifications. By providing free places on FA courses to our project beneficiaries we help participants build their skills and confidence and make a positive contribution in their local community.

Girls’ Hub

The Douglas Eyre Sports Centre Girls’ Football Hub has been established help to increase the confidence of girls who are new to football so that they can become regular participants.

Set on the new 3G pitch at Douglas Eyre Sports Centre on Sunday mornings, the Hub provides an exciting opportunity for us to work in collaboration our clubs to create a female friendly, pressure-free environment where girls can learn the game and flourish. In hosting monthly age-group festivals for inexperienced players drawn from local clubs and schools, the intention is to help increase the girls’ confidence and competence so that they can become regular participants. The Hub also provides a specialist goalkeeping clinic aimed at teaching girls the fundamentals of the position.

Page 38

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Fixed Assets Fund
Legacy Fund
General funds
Unrestricted general funds
Revaluation reserve
Total Unrestricted funds
Restricted funds
The London Marathon
Charitable Trust Fund
Coping Through Football
Bernard Sunley
Charitable Foundation
The Football Foundation
Green Hearts
The Big Give
Total of funds		 Balance at
1 October
2022
£
3,673,233
1,283,633
4,956,866
728,617
672,986
1,401,603
6,358,469
1,142,299
29,003
3,635
176,601
2,393
4,975
1,358,906
7,717,375		 Income
£
-
-
-
1,537,667
-
1,537,667
1,537,667
-
144,353
-
-
-
-
144,353
1,682,020		 Expenditure

£
(251,340)
-
(251,340)
(1,700,837)
-
(1,700,837)
(1,952,177)
(52,089)
(75,074)
-
(22,076)
(80)
-
(149,319)
(2,101,496)		 Transfers
in / out
£
44,500
(44,500)
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains /
(Losses)

£
-
-
-
-
41,161
41,161
41,161
-
-
-
-
-
-
-
41,161		 Balance at
30
September
2023

£
3,466,393
1,239,133
4,705,526
565,447
714,147
1,279,594
5,985,120
1,090,210
98,282
3,635
154,525
2,313
4,975
1,353,940
7,339,060

Page 39

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

20. Analysis of net assets between funds Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior year
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
3,458,905
2,343,291
907,725
(820,526)		 Restricted
funds
2024
£

1,248,232
-

154,071

-

1,402,303
Restricted
funds
2023
£
1,248,370
-
105,570
-
1,353,940		 Total
funds
2024
£
4,707,137
2,343,291
1,061,796
(820,526)
5,889,395 7,291,698
Unrestricted
funds
2023
£
3,466,393
2,117,380
1,008,156
(606,809)		 Total
funds
2023
£
4,714,763
2,117,380
1,113,726
(606,809)
5,985,120 7,339,060

21. Reconciliation of net movement in funds to net cash flow from operating activities

Net (expenditure) for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
15
Revaluation gains on investments
16
Investment income
7
Decrease/(Increase) in debtors
17
Increase in creditors
18
Net cash provided by operating activities		 Group
2024
£
(47,362)
346,291
(238,025)
(38,958)
13,946
213,717
249,609		 Group
2023
£
(378,315)

325,506

(41,161)

(39,438)

(142,388)

200,624

(75,172)

Page 40

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

22. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 Group
2024
£
726,889
726,889		 Group
2023
£
764,873
764,873

23. Analysis of changes in net debt

Cash at bank and in hand At 1
October
2023
£
764,873		 Cash
flows
£
(37,984)
(37,984)		 At 30
September
2024
£
726,889
764,873 726,889

24. Contingent liabilities

Sport England hold a second charge over London Marathon Playing Field Greenford in respect of grant monies advanced in 2011 for the refurbishment of the pavilion at that ground. The grant, which amounted to £430,296, may be repayable if the ground ceases to be used for sporting purposes within the period to 2032.

The London Marathon Charitable Trust holds a second legal charge over London Marathon Playing Field Greenwich; a first charge is held by The Secretary of State 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 Playing Field Redbridge is jointly owned by the Society and The London Marathon Charitable Trust as tenants in common. A sum of £401,000 is repayable to The London Marathon Charitable Trust in the event of this ground being sold.

The London Marathon Charitable Trust holds a first legal charge over London Marathon Playing Field Greenford. Half of the net sale proceeds or a sum of £700,000, whichever is greater is repayable to the London Marathon Charitable Trust in the event of the ground being sold.

Page 41

THE LONDON PLAYING FIELDS SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

25. Operating lease commitments

At 30 September 2024 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Land and Buildings
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 Group
2024
£
36,500
42,583
-
Group
2023
£
36,500
79,083
-
Charity
2024
£

36,500

42,583

-
Charity
2023
£

36,500

79,083

-
79,083 115,583
79,083
115,583

The following lease payments have been recognised as an expense in the Consolidated Statement of Financial Activities:

Operating lease rentals Group
2024
£
36,500
Group
2023
£
36,500
Charity
2024
£

36,500
Charity
2023
£

36,500
36,500 36,500
36,500
36,500

26. Related party transactions

None of the Council received any remuneration or expenses in the year (2023 - £NIL).

During the year, tables , tickets and auctioned items were purchased in relation to the annual Gala Dinner, Golf Day and Quiz to the total of £22,086 (2023 annual Gala Dinner and Golf Day - £15,000) , by the following Trustees or their related parties – The Honourable William Cadogan, Jamie Dalrymple, Andy Sutch, Anthony Ratcliffe, Andy Webb and Dennis Hone (2023 - The Honourable William Cadogan, Jamie Dalrymple and Andy Sutch). Included in unrestricted donations was £3,438 received from Trustees (2023 - NIL) . Additionally £75,000 was received as an unrestricted donation from The Cadogan Charity.

No restricted donations were received from Trustees (2023 - A restricted donation of £5,000 restricted to the Fairlop Oak ground was received in the year from the Trustee Colin Ainger).

27. Controlling party

The Trustees do not consider that there is any single controlling party.

Page 42