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2024-12-31-accounts

LAKENHEATH PLAYING FIELD ASSOCIATION

TRUSTEES’ ANNUAL REPORT AND STATEMENT OF FINANCIAL ACCOUNTS FOR THE FINANCIAL YEAR ENDED 31[ST] DECEMBER 2024

Registered Charity #304908 Eriswell Road, Lakenheath, Suffolk, IP27 9AF

Lakenheath Playing Field Association

INDEX

Trustees, Management Committee, & Bankers Page 3
Trustees’ Annual Report Page 4
Independent Examiner’s Report Page 6
Statement of Financial Activities Page 8
Balance Sheet Page 12
Accounting Policies Page 14
Tangible Fixed Assets Page 16
Related Party Transactions Page 17

Page 2 of 18

Lakenheath Playing Field Association

Trustees, Management Committee, & Bankers for the Year Ending 31[st] December 2024

Trustees

Kevin Robert Watts Tracy Lynn Whitehand George James Plumb

Chairman Vice Chairperson Treasurer

Management Committee Monicha Schichtel Brian Rutterford Margaret Satterley

Secretary

The Management Committee is inclusive of the three Trustees.

During 2024, the charity accepted the resignations of Management Committee members Anita Sutton and Debbie Cohn.

Bankers

Lloyds Bank (Newmarket) 48 High Street Newmarket Suffolk CB8 8LF

Page 3 of 18

Lakenheath Playing Field Association

Trustees’ Annual Report for the Year Ending 31[st] December 2024

The Lakenheath Playing Field Association (“LPFA”) is a registered charity (#304908) operating in Lakenheath, Suffolk. The LPFA are responsible for two large playing fields, Lakenheath Pavilion, The Lancaster bar, and other facilities on-site including a multi-use games arena, skate park, and public toilets. The LPFA operates in accordance with the Trust Deed, agreed with the Charity Commission on 9[th] October 1967.

Lakenheath Pavilion continued to be hired out for private bookings throughout 2024. These bookings are essential for the continued operation of the LPFA, as the revenue from hire fees, as well as the bar takings from these events, act as a key income stream for the charity.

During 2024, the LPFA formally named the extension of the Lakenheath Pavilion building “The Lancaster Room”. In November 2024, this room was then transformed into The Lancaster bar, created in response to local demand for a welcoming, community focused bar venue for the village. As of the end of 2024, reception to the opening of The Lancaster has been extremely positive. Throughout 2025, the LPFA will continue to improve the bar as required. Long-term, The Lancaster will act as an additional income stream for the LPFA which will allow the charity to further investment into the site as a whole. Assuming the success of The Lancaster continues, it is expected that the LPFA will be required to become VAT registered around Spring 2025.

The LPFA continues to pay off loans, with a current outstanding loan balance of £21,547. However, the charity’s total assets less liabilities are “in the black” at a total of £15,510. Further details can be found within the Balance Sheet.

The LPFA utilised its surplus to make loan repayments of £8,261 and purchased fixed assets to the value of £3,574. Key fixed assets purchased include: a yellow shipping container for storage, WiFi equipment, projector equipment, bar shutters for The Lancaster bar, and a bar glasswasher. The surplus also contains a £5,362 VAT rebate relating to electricity. The remainder of the surplus comes from the LPFA’s own fundraising activities by way of events organised by the charity. The surplus is non-comparable to previous financial years due to the change in accounting basis. Further details can be found in the Statement of Financial Activities.

The LPFA would like to thank Lakenheath Parish Council for the receipt of a £5,515 grant for the much-needed replacement of fencing around the field and car park. The LPFA would also like to thank District Councillor Tracy Whitehand for a £666 contribution towards the installation of new festoon lighting outside the pavilion from their locality budget.

During 2024, the LPFA parted ways with Lakenheath Casuals Football Club. The LPFA wish the club all the best in their future endeavours. Lakenheath Playing Fields are still home to Lakenheath Youth Football Club, who maintain the grass on the fields in return for usage of the site, as well as Lakenheath Cricket Club. Lakenheath Pavilion continues to be the home of Lakenheath Little Fishes.

The LPFA holds monthly Management Committee meetings. These are used to discuss the financial position of the charity, our future plans/projects, and the day to day operations of the charity. Additional Trustee meetings are held when required. The LPFA accepted the resignation of two Management Committee members during 2024: Anita Sutton and Debbie Cohn. The LPFA are extremely grateful to both of their contributions to the charity during their time on the Management Committee and wish them both all the best for the future. The LPFA will look to co-

Page 4 of 18

Lakonhoath Playlng Fleld A88oclatlon optaddltlonal Management Commlttee member8 In e8rly 2025toflllthevac8nt P081tlon8cre8ted by these reslgnatlons. Representatlve8 01 Lakenheath Crlcket Club, L8kenheath Youth Football Club, and Lakenheath Llttle H8he8, are 8180 Invlt8d to attend the monthly M8n8gement Commlttee Meetlng8. As of 1" December 2024, Kevln Robert Watt8 Was 818Cted 88 8 Tru8te8 of the charlty. Throughout 2024. the LPFA org8nl88d It8 own gucce88ful events for L8kenheath. These Include: Lak6nhe8th Fete, numerous Party on the Pltch 8vent8. 8 dog show, May Day event, 8 H811oween party, a N8w Ye8r'8 Eve party- and more. Event8 or8an18ed by the LPFA ale a key pl8ce ol the ch8rltyb fundral8lng Strategy, and the LPFAwlll look to contlnue organ185ng many olthe88 events throughout 2025. Looking foThvard Into 2025 and beyond, there are many prolects the LPFA w18h to undert8ke. These Include but are not Ilmlted to.. the Improvement of The Lancaster bar so It18 3ult8ble and flt for suecess for many years to come: Installatlon of solar panels on the roof of the Lakenheath P8vlllon bullding to help reduce electrlclty c03t3; Improvement8 to the slte's Erlswell Road entrance; and more. The LPFA Is a long-est8bll8h8d charlty. Whlle the charlty contlnues to pay off outstanding loans, the Trustees are confldent that the charlty Is flnanclally healthy, and th8t these loan8 are not flnancial concern. The LPFA contlnues to fulfll It8"modus operandl" of providlng much needed faclllties for the l8r88, and growlng, vlllage of Lakenheath. Signed and 8pproved by the Chairman of the charlty as ofthe ye8r endlng 31° Dec8mber2024. 01 2f Kevln Robort Watt• Bsc. Chaim7an Pa88 O of 18

Lakenheath Playing Field Association

Independent Examiner’s Report

To the Trustees of the Lakenheath Playing Field Association on the Accounts for the Financial Year Ending 31[st] December 2024

I report on the accounts of Lakenheath Playing Field Association for the year ending 31[st] December 2024 which are set out in pages 8-13 of this document.

Respective Responsibilities of the Trustees of the Charity and the Examiner

As the Trustees of the Charity, you are responsible for the preparation of accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the accounts of the Charity are not required to be audited for the year ending 31[st] December 2024 under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of the examination by me of the accounts of your Charity’s as carried out under Section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act.

Basis of Independent Examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. 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 records presented with these records. It also includes investigation of any unusual items or disclosures in the accounts and seeking clarification from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given by me as to whether the accounts present a “true and fair” view and the Report is limited to these matters set out in the statement below.

Statement by Independent Examiner

In connection with this examination, no material matters have come to my attention which give me cause to believe that in any material respect:

  1. The accounting records were not kept in accordance with Section 386 of the 2006 Act.

  2. The accounts do not accord with the accounting records, or

  3. The accounts do not comply with accounting requirements under Section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination, or

  4. The accounts have not been prepared in accordance with the Charities SORP (FRS 102).

Page 6 of 18

Lakonhoath Pioylng Fleld A•soclatlon I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this Report in orderto enable a proper understanding of the Bccounts to be reached. t4.oq toLC Torry Ball 5 Holly Clos8 Horringer Burysr Edrnunds Suffolk IP29 5SZ Page7 of 18

Lakenheath Playing Field Association

Statement of Financial Activities for the Financial Year Ending 31[st] December 2024

Operating Income 2024
2023
92,684.42
68,042.61
Adhoc Hall Hire Fees
Recurring Hall Hire Fees
Bar Takings
Events & Fundraising
Sports Club Hire Fees
Lancaster Bar Pool Table
Charitable Donations
Other Miscellaneous Income
Restricted Income
10,015.00
7,994.00
13,272.84
15,650.05
62,685.07
40,859.63
3,351.51
1,489.53
2,520.00
2,000.00
477.00
-
283.00
-
80.00
49.40
7,764.69
2,609.80
Income from Government Grants
Income from Event Sponsorship
Income from Insurance Claims
Rebates
5,832.99
880.00
1,283.59
1,250.00
648.11
479.80
5,361.99
-
Electricity VAT Rebate Prior to Current Year 5,361.99
-
TOTAL INCOME 105,811.10
70,652.41
Operating Expenditure 73,930.97
52,337.38
Bar Stock
Bar Staf Labour
Bar Sundry Purchases
Council Rates
Environment Agency Fees
Field Rent
Licenses
Insurance
Cleaning Staf Labour
Cleaning Consumables
Crockery Purchases
Stationery
Advertising & Marketing
Software & Subscriptions
Pool Table Rent
Lancaster Bar Pre-Opening Expenses
Electricity
Water
Refuse Collection
Broadband & Telephone
Event Expenditure
Repairs, Maintenance, & Contractors
Bank & Merchant Account Fees
Purchase of Equipment
24,910.18
24,066.22
11,573.50
Not recorded separately
544.92
Not recorded separately
166.50
227.84
129.67
Not recorded separately
-
1,489.96
77.46
604.00
1,084.20
1,176.53
4,175.00
3,250.00
1,055.56
761.29
90.44
54.58
-
35.28
90.97
143.83
19.20
-
270.00
-
994.28
-
14,214.59
11,158.30
1,298.88
970.44
798.93
979.68
574.23
524.16
3,673.43
2,016.28
7,098.24
3,393.04
913.83
491.92
-
940.97

Page 8 of 18

Lakenheath Playing Field Association

Other Miscellaneous Purchases
Expenditure of Restricted Income
2024
2023
176.96
83.06
7,764.69
2,129.01
Purchases from Government Grants
Purchases from Event Sponsorship
Purchases from Insurance Claims
5,832.99
489.51
1,283.59
1,159.70
648.11
479.80
TOTAL EXPENDITURE BEFORE INTEREST & DEPRECIATION 81,695.56
54,466.39
Interest & Depreciation 372.27
-
Loan Interest Charged
Fixed Asset Depreciation
Loan Repayments
164.81
Not recorded separately
207.46
-
See notes
16,163.73
TOTAL EXPENDITURE AFTER INTEREST & DEPRECIATION 82,067.93
70,630.12
TOTAL SURPLUS /(DEFICIT) 23,743.17
22.29

The below annotations should be considered when understanding this statement:

Page 9 of 18

Lakenheath Playing Field Association

Page 10 of 18

Lakenheath Playlng Flold A•$oclatlon The St8tement of Fln8nci81 Activities for the Flnanclal Year Endlng 31" December 2024 w85 appmved by the charity& Chairman on the below date, oq Kev Robert Watts Bsc. Chairman Page11of 18

Lakenheath Playing Field Association

Balance Sheet as of 31[st] December 2024

Non-Current Assets 3,366.10
Tangible Fixed Assets 3,366.10
Current Assets 43,060.39
Lloyds Bank – Treasurer’s Account 18,919.24
Payment Services Merchant Accounts 11,580.56
Cash Float 465.00
Cash Due to be Banked 176.00
Prepayments 1,822.66
Bar Stock 10,096.93
TOTAL ASSETS 46,426.49
Creditors: Amounts Falling Due Within One Year 9,369.95
Accounts Payable 4,098.05
Accruals 1,851.22
Deferred Income 2,520.68
Hall Hire Deposits 900.00
Creditors: Amounts Falling Due After More Than One Year 21,547.04
Lloyds Bank (Bounce Back Loan) – Outstanding Balance 5,047.04
Brian Rutterford (Private Loan) – Outstanding Balance 16,500.00
TOTAL LIABILITIES 30,916.99
TOTAL ASSETS LESS LIABILITIES 15,509.50

The below annotations should be considered when understanding this statement:

Page 12 of 18

Lakonheath PlaySnq ￿eld Assoclatlon The 8818nce Sheet as of31" December2024 w8s appmved by the charitys Chaimy8n on the below date. 01 Kevln Rob•rt Watt• Bsc. Ch8lm)8n Page 13of 18

Lakenheath Playing Field Association

Accounting Policies

Basis of Preparation

The financial statements have been prepared in accordance with the Charities SORP in accordance with the FRS 102 (the Financial Reporting Standard applicable to UK and Republic of Ireland), the charity’s governing document, and applicable charity law.

Accounts are prepared using the accrual basis method.

Income Recognition

Income from trading activities (eg, hall hire fees, bar sales, etc) is recognised at the point the charity is legally entitled to the income.

Where applicable, income may be “deferred” with the amount allocated across the reporting periods to which it relates. Examples of deferred income include: hall hire fees where the billing period elapses multiple months or years; hall hire fees where an invoice is issued prior to the date of hire; event ticket sales where tickets are purchased in a separate reporting period prior to the event.

Income from grants is recognised at the point of which the charity is entitled to the income, performance conditions are met, the amount can be reliably measured, and the receipt is probable.

Income from event sponsorship is recognised at the point the charity is legally entitled to the income, based on the date of any invoice being issued.

Income from donations is recognised when the charity has entitlement to the income, the amount can be reliably measured, and receipt is probable.

Expenditure Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure.

Where applicable, expenditure may be held as a prepayment with the amount allocated across the reporting periods to which it relates. Examples of prepayments include: rent; annual servicing/planned maintenance; licenses; local council rates.

Fund Accounting

Unrestricted funds are available for the use at the discretion of the Trustees and Management Committee in furtherance of the charity’s objectives in line with the charity’s governing document.

Income of unrestricted funds is denoted under the Operational Income header in the Statement of Financial Activities.

Expense of unrestricted funds is denoted under the Operational Expenditure in the Statement of Financial Activities.

Page 14 of 18

Lakenheath Playing Field Association

Restricted funds are subject to specific conditions imposed by donors or grant providers.

Income of restricted funds are denoted under the Restricted Income in the Statement of Financial Activities.

Expenditure of restricted funds is denoted under the Expenditure of Restricted Funds in the Statement of Financial Activities.

Tangible Fixed Assets

Items of equipment where costs exceed £200, or capital projects where part of the value is funded by the charity, are subject to capitalisation. Trustee discretion may also be used in certain circumstances where it may not be appropriate to capitalise a specific purchase over the threshold, or where it is appropriate to capitalise a specific purchase under the threshold.

Depreciation is provided to write off the cost of tangible fixed assets over their estimated useful lives. Depreciation is normally calculated on a “straight line” basis over 3–5 years, although a “reducing balance” method may be used if more appropriate. The Trustees may apply shorter or longer lifespans, where justified by the nature of the asset.

This policy is in effect for tangible fixed assets from 1[st] January 2024. All tangible fixed assets purchased prior to this date have been allocated as an expense in prior financial years.

The property in which the charity operates from, the land at Eriswell Road, Lakenheath, Suffolk, IP27 9AF, is held on lease and is therefore not valued as a tangible fixed asset.

Details of the charity’s current tangible fixed assets can be found under the Tangible Fixed Assets section.

Bar Stock

A full stocktake of bar stock is conducted, at minimum, twice yearly by competent person, of which one of the full stocktakes is completed at financial year end. Stock is valued at the lower of cost (inclusive of irrecoverable VAT) and net realisable value.

The value of bar stock on hand is reflected as a Current Asset on the Balance Sheet, with only stock consumed included as an expense in the Statement of Financial Activities.

Debtors & Creditors

Debtors are recognised at settlement amount due.

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party, and the amount due to settle the obligation can be measured reliably.

Going Concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Page 15 of 18

Lakenheath Playing Field Association

Tangible Fixed Assets as of 31[st] December 2024

Asset Type
Cost
Accumulated
Depreciation
Net Book
Value
Internal Equipment
1,943.58
IT Equipment
129.98
Shipping Containers
1,500.00
36.18
1,907.40
22.10
107.88
149.18
1,350.82
TANGIBLE FIXED ASSETS TOTAL
3,573.56
207.46
3,336.10

Under the charity’s accounting policies for tangible fixed assets, only assets purchased on or after 1[st] January 2024 are included. Assets purchased prior to this date have already been accounted for as an expense in previous years.

The property in which the charity operates from, the land at Eriswell Road, Lakenheath, Suffolk, IP27 9AF, is held on lease and is therefore not valued as a tangible fixed asset.

Page 16 of 18

Lakenheath Playing Field Association

Related Party Transactions for the Financial Year Ending 31[st] December 2024

Related Party
Relationship
Reason for Transaction
Value
Receipts
Kevin Watts
Trustee
Sponsorship towards
Lakenheath Fete 2024 from
ShanRye Surveying &
Architectural Services
50.00
Kevin Watts
Trustee
Purchase of ticket for event
organised by the charity on
behalf of a familymember
5.00
Kevin Watts
Trustee
Donation towards purchase
of Lancaster Bar shutters
278.00
Margaret Satterley
Management
Committee Member
Purchase of tickets for event
organised by the charity on
behalf of a familymember
60.00
Sutton Services Ltd
Company owned by
Anita Sutton,
Management
Committee Member
Sponsorship towards
Lakenheath Fete 2024
100.00
West Sufolk Council
District Councillor
Tracy Whitehand,
Trustee
Grant funding via locality
budget towards installation
of outdoor lighting
317.99
TOTAL RECEIPTS FROM RELATED PARTY TRANSACTIONS
810.99
Payments
Reimbursement for
Kevin Watts Trustee expenses relating to Bar 48.00
Stock
Reimbursement for
Kevin Watts Trustee expenses relating to Bar 25.99
SundryPurchases
Reimbursement for
Kevin Watts Trustee expenses relating to Repairs, 9.49
Maintenance,& Contractors
Reimbursement for
Kevin Watts Trustee expenses relating to Bar 17.90
SundryPurchases
Reimbursement for
Kevin Watts Trustee expenses relating to Bar 13.30
Stock
Reimbursement for
Kevin Watts Trustee expenses relating to Repairs, 24.00
Maintenance,& Contractors

Page 17 of 18

Lakenheath Playing Field Association

Related Party
Relationship
Reason for Transaction
Value
Kevin Watts
Trustee
Reimbursement for
expenses relating to Repairs,
Maintenance,& Contractors
56.98
Kevin Watts
Trustee
Reimbursement for
expenses relating to
CrockeryPurchases
57.44
Tracy Whitehand
Trustee
Gross earnings from main
hall cleaningwork
3,500.00
Tracy Whitehand
Trustee
Gross earnings from bar
work
7,314.00
Tracy Whitehand
Trustee
Reimbursement for
expenses relating to Event
Expenditure
7.99
George Plumb
Trustee
Gross earnings from bar
work
242.00
George Plumb
Trustee
Reimbursement for
expenses relating to Event
Expenditure
18.00
George Plumb
Trustee
Services rendered for
website hosting under
Advertising& Marketing
90.97
Monica Schichtel
Management
Committee Member
Gross earnings from public
toilets cleaningwork
675.00
Margaret Satterley
Management
Committee Member
Reimbursement for
expenses relating to Other
Miscellaneous Purchases
10.00
Debbie Cohn
Management
Committee Member
Reimbursement for
expenses relating to Event
Expenditure
15.00
Brian Rutterford &
Partners
Company owned by Brian
Rutterford, Management
Committee Member
Purchase of shipping
container
1500.00
Brian Rutterford &
Partners
Company owned by Brian
Rutterford, Management
Committee Member
Purchase and installation of
wooden posts on site
196.80
Brian Rutterford &
Partners
Company owned by Brian
Rutterford, Management
Committee Member
Loan repayment
5,500.00
Linda Watts
Volunteer, Lakenheath
Pavilion Booking Clerk
Reimbursement for
expenses relating to Event
Expenditure
90.03
Linda Watts
Volunteer, Lakenheath
Pavilion Booking Clerk
Reimbursement for
expenses relating to Repairs,
Maintenance,& Contractors
118.00
TOTAL EXPENDITURE FROM RELATED PARTY TRANSACTIONS
19,530.89

There are no outstanding balances owed to related parties at financial year end.

Page 18 of 18