BAMPTON PARISH COUNCIL RECREATION GROUND CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2022 CHARITY NUMBER 304259
Shilton Accounting Services 1 The Clock House Brize Norton Road Carterton OX18 3HN
BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Financial statements for the year ended 31[st] March 2022
| Contents: | Page |
|---|---|
| Trustees Annual Report | 3 |
| Independent Examiner’s Report | 4 |
| Statement of Financial Activities | 5-6 |
| Balance Sheet | 7 |
| Notes to the Financial Statement | 8-10 |
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Trustees report for the year ended 31[st] March 2022
The Trustees of the Recreation Ground Charity are also Bampton Parish Councillors. The charity continues to fulfil the objects of its deed and is confident that it will continue to do so for the foreseeable future.
The pavilion continues to support both sport and social activities.
Pembroke Place Play Park, Recreation Ground and Sandford Field are now vested with the Official Custodian for Charities on behalf of the Bampton Ground Charity.
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Independent Examiner’s Report to the Trustees of the Bampton Parish Council – Recreation Ground Charity.
I report on the accounts of the Charity for the year ended 31[st] March 2022.
Respective responsibilities of trustees and examiner.
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
It is my responsibility to:
-
a) examine the accounts (under section 43(7)(b) of the Act
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b) to follow the procedures laid down in the general directions given by the Charity Commissioners (under section 43(7)b) of the Act)
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c) to state whether particular matters have come to my attention.
’ Basis on Independent Examiner s report.
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence which would be required in an audit and consequently I do not express an audit opinion on the accounts.
Independent Examiner’s statement:
In connection with my examination, no matter has come to my attention:
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Which gives me reasonable cause to believe that in any material respect, the requirements of a) to keep proper accounting records in accordance with section 41 of the 1993 Act and b) to prepare accounts which accord with the accounting records and to comply with the requirements of the Act have not been met.
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To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
David Cuthbertson – ICPA Cert Acc (Open) 26[th] July 2022
Shilton Accounting Services
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Statement of Financial Activities for the year ended 31[st] March 2022
| Income Grants & Donations Covid grants Investments Income from sporting facilities Pavilion hire Sundryincome |
Notes Unrestricted funds 2 34,050 - 7,321 11,342 1,747 817 |
Restricted funds - - - - - - |
Endowment funds - - - - - - |
2022 2021 34,050 76,728 - 21,482 7,321 8,618 11,342 1,398 1,747 660 817 31 |
|---|---|---|---|---|
| Total Income | 55,277 | - | - | 55,277 108,917 |
| Expenditure Upkeep of sports facilities 6,411 Major refurbishment 5,058 Salaries 6 3,720 Pembroke & Sandford upkeep 2,151 Hard courts & skate park - Pavilion running costs 18,923 Car park maintenance - Depreciation - Legal fees 20 Accountancy 480 Bank charges 72 Administration & insurance 8,151 |
- - - - - - - 5,996 - - - - |
- - - - - - - - - - - - |
6,411 4,238 5,058 11,118 3,720 7,440 2,151 2,279 - 4,801 18,923 13,392 - 1,054 5,996 5,996 20 1,508 480 360 72 72 8,151 7,808 |
|---|---|---|---|
| Total Expenditure 44,986 |
5,996 | - | 50,982 60.066 |
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Statement of Financial Activities for the year ended 31[st] March 2022 continued:
| Notes Unrestricted funds |
Restricted funds |
Endowment funds |
2022 2021 |
|
|---|---|---|---|---|
| Net income & expenditure |
10,291 | (5,996) | - | 4,295 48,851 |
| Gains/losses arising on investments Unrealised gain/loss Realised gains |
4 322 4 - |
- - |
4,829 - |
5,151 2,904 - 218 |
| Totalgains/losses | 322 | - | 4,829 | 5,151 2,686 |
| Net movement in funds |
10,613 | (5,996) | 4,829 | 9,446 51,537 |
| Funds brought forward |
165,520 | 157,862 | 313,344 | 636,726 585,188 |
| Total funds carried forward |
176,133 | 151,866 | 318,173 | 646,172 636,726 |
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Balance sheet for the year ended 31[st] March 2022
| Fixed assets Tangible assets Current assets Debtors Investments Bank balance |
Notes Unrestricted funds 3 92,520 1,876 4 23,048 62,917 |
Restricted funds 151,866 - - - |
Endowment funds 63,500 - 243,530 11,143 |
2022 2021 307,886 313,881 1,876 2,004 266,578 261,427 74,060 60,344 |
|---|---|---|---|---|
| Total current assets |
87,841 | - | 254,673 | 342,514 323,775 |
| Current liabilities |
5 4,228 |
- | - | 4,228 930 |
| Net current assets |
83,613 | - | 254,673 | 338,286 322,845 |
| Total net assets | 176,133 | 151,866 | 318,173 | 646,172 636,726 |
The Financial Statements were approved by the Board of Trustees on _______2022
And signed on its behalf by _______
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Financial statements for the year ended 31[st] March 2022
Notes to the accounts
1. Accounting Policies:
Basis of Accounting : The Financial statements have been prepared on a going concern basis under the historic cost convention. 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. The Charity applied SORP (FRS102) in the current year.
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:
Tennis Courts 5% straight line Multi sports arena 5% straight line Equipment 10% straight line Store shed 10% straight line Pavilion 2% straight line
Investments
Investments are recognised initially at fair value which is normally the transaction price including transaction costs. Subsequently they are measured at fair value or publically quoted value, with changes recorded as net gains/losses on investments in the SOFA. Other investments are measured at cost less impairment.
Income recognition
All income resources are included in the Statement of Financial Activities when the Charity is legal entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the Charity and it is probable that they will be fulfilled.
Expenditure recognitio n
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payment to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Taxation
The Charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the test 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.
Going concern
The Financial Statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have consider the level of funds held and the expected level of income and expenditure for the next 12 months from authorising these Financial statements and consider that there is sufficient levels of reserves for the Charity to be able to continue as a going concern.
Fund accounting
Bampton Recreation Ground Charity has the following types of funds for which it is responsible.
Unrestricted funds are donations and other incoming resources receivable or generated for the objectives of the Charity without further restrictions and are available as general funds.
Restricted funds are donations or funds received which are earmarked by the donor for specific purposes and cannot be used for general funds. Any further income from restricted funds invested must also be used for that purpose.
The Endowment fund was set up using proceeds from the sale of part of land left to Bampton in a will. Only income derived from the investment of the endowment fund may be utilised in furtherance of the Charity.
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Financial statements for the year ended 31[st] March 2022
Notes to the accounts continued
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Grants and donations . This consists of grant made by Bampton Parish Council
-
Tangible Fixed assets (used for direct charitable purposes)
| Freehold Property Unrestricted |
Freehold Property Restricted |
Endowment | Fixtures Fittings & Equipment |
Total | |
|---|---|---|---|---|---|
| Cost/valuation | |||||
| At 1 April 2021 | 92,520 | 289,772 | 63,500 | 99,699 | 545,491 |
| Additions | - | - | - | - | - |
| Disposals | - | - | - | - | - |
| At 31 March 2022 | 92,520 | 289,772 | 63,500 | 99,699 | 545,491 |
| Depreciation | |||||
| At 1 April 2021 | - | 131,911 | - | 99,699 | 231,610 |
| Charge in theyear | - | 5,996 | - | - | 5,996 |
| At 31 March 2022 | - | 137,907 | - | 99,699 | 237,606, |
| Net book value | |||||
| At 31 March 2022 | 92,520 | 151,865 | 63,500 | - | 307,885 |
| At 31 March 2021 | 92,500 | 157,861 | 63,500 | - | 313,881 |
4. Investments
| Nominal Value |
Cost | Market value 31/03/22 |
Market value 31/03/21 |
Realised gain/loss |
Unrealised gain/loss |
|
|---|---|---|---|---|---|---|
| Endowment fund |
||||||
| COIP Fixed Interest |
74,325 | 94,954 | 93,033 | 100,150 | - | (7,127) |
| COIF Investment |
7,728 | 70,888 | 150,497 | 138,541 | - | 11,956 |
| Unrestricted funds |
||||||
| COIF interest | 7,724 | 9,641 | 9,668 | 10,409 | - | (741) |
| COIF Investment |
687 | 10,000 | 13,379 | 12,317 | - | 1,062 |
| Total | 266,578 | 261,427 | - | 5,151 |
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BAMPTON PARISH COUNCIL – RECREATION GROUND CHARITY
Financial statements for the year ended 31[st] March 2022
Notes to the accounts continued
5. Current Liabilities
| Trade creditors | 2022 | 2021 |
|---|---|---|
| Pavilion runningcosts | 450 | |
| G&O Engineers | 1,377 | - |
| WiringSolutions | 15 | - |
| Medlar Consultancy | 528 | - |
| WiringSolutions | 114 | - |
| Smiths of Derby | 683 | - |
| WODC | 328 | |
| G&G Signs | 99 | - |
| Pyrotec | 463 | - |
| AccountingAccrual | 480 | 480 |
| Total | 4,228 | 930 |
- Salaries – Average number of employees during the year was 1 (2021- 1).
7. Restricted funds
| 7. Restricted funds |
||||
|---|---|---|---|---|
| 01/04/2021 | Received in year | Expended in year |
31/03/2022 | |
| Pavilion | 157,862 | - | 5,996 | 151,866 |
| Playpark | - | - | - | - |
| Millennium Bike Park, |
- | - | - | - |
| Total | 157,862 | - | 5,996 | 151,866 |
8. Endowment funds
| 01/04/2021 | Received in year | Expended in year |
31/03/2022 | |
|---|---|---|---|---|
| Investments at market value |
238,701 | 4,829 | - | 243,530 |
| Property Pembroke Field |
16,000 | - | - | 16,000 |
| Property Buckland Road |
47,500 | - | - | 47,500 |
| Endowment cash at bank |
11,143 | - | - | 11,143 |
| Total | 313,344 | 4,829 | - | 318,173 |
9. Related Party Transactions
During the year the Charity was under the control of Bampton Parish Council, the Trustees of the Charity. The Trustee received no remuneration and had no expenses reimbursed in the year (2021 – none)
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