This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

ANNUAL REPORT AND FINANCIAL

STATEMENTS

31[st] December 2022

Incorporated by Royal Charter Registered Charity No: 306070 Registered Company No: RC000370 Office of Scottish Charity Regulator Registration No: SC040357

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Fields in Trust 2022 Report & Accounts

Fields in Trust was founded in 1925 as the National Playing Fields Association and incorporated by Royal Charter in 1933.

Patron

Her Late Majesty Queen Elizabeth II

President

HRH The Prince of Wales KG KT

Vice Presidents

Gyles Brandreth, The Lord Howard of Rising, Christopher Laing OBE, Alison Moore-Gwyn LVO

Trustees and Members of Council

Jo Barnett – Chair

Richard Schuster – Vice Chairman, Jeremy Hammond – Honorary Treasurer

Clive Betts MP, Mark Campion, Paul Garber (until June 2022), Ewan Gilles (from September 2022) Ian Ginbey, Dr Ann Heywood (until December 2022), Debbie Jevans CBE (until March 2022), Graeme le Saux (until March 2022), Carlotta Newbury, Duncan Peake (from September 2022) Brian Samson (until September 2022).

Statement from Chair of Trustees

Trustees’ Report

Remembering HM The Queen

2022 Achievements

Acknowledgements and Thanks

Looking to the Future

Financial Review

Structure, Governance and Management

Statement of Trustees’ Responsibilities

Auditor’s Report

Consolidated Statement of Financial Activities

Balance Sheets

Consolidated Statement of Cashflows

Notes to the Financial Statements

Fields in Trust 2022 Report & Accounts

STATEMENT FROM THE CHAIR OF

TRUSTEES

Over the last few years as we have been through, and thankfully now emerged from, the Covid pandemic there has been a growing recognition amongst legislators and the public of the importance of green space as a way of meeting the key challenges of the day - be that levelling up, improving health and wellbeing, increasing our activity levels or addressing climate change.

Since 1925 Fields in Trust has championed the need to protect public green space in our towns and cities and it is heartening to see new policy and the political narrative across the spectrum, increasingly reflect this position. The Government’s new Environmental Improvement Plan published in February 2023 is an important step in recognising the impact of green space on our wellbeing and the environment, with local easy access to green space or water being a mainstay of the plan. However, as the Fields in Trust 2022 Green Space Index highlights, access to green space is not equal across society and, on average, those living in the government’s target levelling up areas have 10% less access to green space than the rest of the country. There is no doubt that the cost of living crisis hitting these communities will further highlight the importance of parks as a free place for people to come together, enjoy the outdoors and exercise.

In order to allow communities, planners and local authorities to address this imbalance and focus on protecting our green space we continue to provide free access to the latest data on population and public green space through our 2022 Green Space Index which maps the public parks and green spaces and identifies how accessible they are to the people that live in towns and cities across Great Britain. In 2022 we worked with 18 landowners to protect 20 new sites, thus increasing the number of people who live within a 10-minute walk of a protected park or public green space by 63,000.

2022 also saw us continue to make progress in securing a significant number of sites within Liverpool and Edinburgh, two cities that have worked closely with their local communities and friend’s groups to drive real change within their boundaries, with 100 and 19 sites respectively on course to be protected.

However, we recognise that we can’t drive real change on our own. Businesses, other organisations, and local communities all have an important role to play. By working in partnership with others, such as through the Better Planning Coalition and the Nature for Everyone campaign, we are joining forces to drive legislative change that will impact green spaces for generations. The Fields in Trust Six Acre Standard, first launched in the 1930s, continues to pay a pivotal role in policy and local planning but building development and community needs have evolved and, in recognition of the need for green space planning guidance to reflect the challenges of the day, we have begun an ambitious programme of work to revise our long-standing guidance and make it fit for the next 100 years. Consultation with the sector and leadership and guidance from our President HRH The Prince of Wales, will see us continue to develop the guidance and tools available to planners, developers, and local government over the coming year.

Thank you to all our funders and partners for their ongoing support and to the team for their dedication.

We look forward to working with you all on the exciting challenges ahead.

Jo Barnett

Chair

Fields in Trust 2022 Report & Accounts

TRUSTEES’ REPORT

The Board of Trustees present their annual report incorporating the audited financial statements for the year ended 31[st] December 2022 together with an update on current plans and achievements.

Our Mission

Fields in Trust champions and supports our parks and green spaces by protecting them for people to enjoy in perpetuity.

Because once green spaces are lost, they are lost forever .

About Us

We are an independent charity working across the UK to protect parks and green spaces by working in partnership with landowners, community groups and policymakers to champion the value of our parks and green spaces to achieve better protection for their future at both local and national level.

Public Benefit

In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. Fields in Trust’s work benefits everyone. The parks, playing fields and playgrounds that Fields in Trust protect are free at the point of access and ensure that communities have opportunities to engage in sport, play and recreation.

With over 95 years’ experience we have the expertise to guarantee the longevity of these spaces and to positively impact on our communal health and wellbeing.

Fields in Trust 2022 Report & Accounts

REMEMBERING HM THE QUEEN

PATRON OF FIELDS IN TRUST, 1952-2022

Her Late Majesty Queen Elizabeth II was Patron of Fields in Trust for the whole of her 70-year reign and in 2022 we, along with millions of people across the globe, marked her passing with sadness and reflected on the incredible legacy she left behind.

HM The Queen inherited the role of Patron from her father King George VI who had founded the charity – then known as the National Playing Fields Association – in 1925. The cause was an important one to King George VI who had invited His late Royal Highness The Duke of Edinburgh to become President of the charity in 1947; the very first charitable role The Duke took on following his marriage to the then Princess Elizabeth.

Both before and after she was appointed Patron HM The Queen attended many fundraising events in support of the charity’s work. The Duke of Edinburgh was an active, hands-on President and the driving force behind gala events at Grosvenor House and the London Coliseum gaining the support of Orson Welles, Frank Sinatra and Ava Gardner to name but a few.

HM The Queen and The Duke of Edinburgh also attended countless field unveilings to raise awareness of the importance of access to green space for communities, especially children. They were ahead of their time in recognising the real value of parks and playing fields to health and wellbeing.

aimed to celebrate Her Majesty’s Diamond Jubilee in 2012 with a lasting legacy of parks and green spaces protected in perpetuity across the country.

HRH The Duke of Cambridge’s Patronage of the initiative was a personal tribute to his grandmother as his comments at the launch of the Challenge reflect:

"The year 2012 marks the Queen's Diamond Jubilee, and I cannot think of a more fitting tribute to my Grandmother's 60 glorious years on The Throne than to dedicate to The Queen this programme that will save playing fields for future generations... I sincerely hope that these fields will become a living reminder to all of The Queen's steadfast duty, dedication and love for this country."

In total the Challenge protected 1,388 spaces as Queen Elizabeth II Fields (Queen Elizabeth Fields in Scotland) across the length and breadth of the UK, from the most northerly Gilbertson Park in Lerwick, Shetland to the most southerly Breage Playing Field in Helston on the tip of Cornwall. Together, these spaces create a lasting legacy of green spaces which will always be there for communities across the UK to use, enjoy and benefit from.

We are immensely grateful to Her late Majesty Queen Elizabeth II and proud that with the support of her grandson HRH The Prince of Wales we continue our work to protect the green spaces that are so crucial to creating healthy communities where nature can thrive.

In 2010 The Queen Elizabeth II Fields Challenge was created with HRH The Duke of Cambridge as its Patron. The Challenge

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Fields in Trust 2022 Report & Accounts

2022 ACHIEVEMENTS

We believe that inspiring and inclusive green spaces that enable both people and nature to thrive can help meet some of the most significant challenges we are facing today.

Green infrastructure is a powerful tool to support wide ranging issues including health and wellbeing, climate change resilience and the creation of more inclusive communities. The pandemic increased awareness of the value of these spaces and the ongoing focus on levelling up inequalities provides the opportunity to leverage better access to high quality green spaces for everyone.

Over the last year we have focussed on contributing to these important debates to try and secure a better future for parks and green spaces as part of climate positive placemaking.

We’re proud to have worked directly with a range of Local Authority partners to deliver a legacy of permanently protected green spaces for their residents now and in the future.

CHAMPIONING OUR PARKS AND GREEN SPACES

Reimagining Parks and Green Spaces

For almost a century we have used our independent voice to positively influence issues around open space. Fields in Trust produced the first minimum threshold for parks and green spaces in the 1930s and in multiple iterations since it has continued to form the key benchmark for the provision of open space. Now, as we approach our centenary, we are actively looking to raise the bar further to encourage the industry the deliver

the inspiring and inclusive green spaces of the future by reimagining this guidance once again.

In December 2022 we convened planners and developers at a roundtable hosted by our President HRH The Prince of Wales to discuss how we can work collaboratively to achieve these goals.

Leading up to the roundtable we held a series of discovery workshops with stakeholders from across the sector including planners, designers, landscape architects, house builders and master developers. We consulted with them to better understand how we can support them to create more aspirational green spaces to deliver better outcomes for people and nature.

Alongside these conversations we consulted with special interest groups representing inclusion, children and young people, nature, biodiversity, health and wellbeing to assess what practical steps are needed to ensure that new parks and green spaces meet the needs and expectations of the wider community.

We established six key themes that future green spaces need to address;

Accessible safe and inclusive
Support active lifestyles though sports, play and physical activity
Able to support mental wellbeing
Resilient and can mitigate and adapt to the effects of a changing climate
Provide space for nature to thrive
Adaptable to changing community needs over time.

The roundtable demonstrated there is a real opportunity for Fields in Trust to lead this

Fields in Trust 2022 Report & Accounts

conversation and we are looking forward to working with stakeholders to create the guidance and tools that ensure green spaces meet the needs of communities and are future proofed for the next generation.

at the Department for Environment, Food and Rural Affairs used the event to call on other Local Authorities to follow Liverpool’s visionary partnership with Fields in Trust.

Policy and Advocacy

Green Space Index

Over the last 4 years we have been developing data and insight to highlight the varying levels of access to parks and green spaces across the county. Using our Green Space Index we have been able to identify where provision of green space is below minimum recommended standards and have begun to analyse how that relates to a range of other factors.

In 2022 we looked at this data through the lens of the government’s flagship Levelling Up policy to see how these entrenched inequalities are reflected in the local provision of parks and green spaces. Interrogation of the data showed that levelling up priority areas had around 10% less green space than average and that 40% of the poorest performing areas in terms of green space aligned with priority levelling up locations.

A Parliamentary reception hosted by Clive Betts MP, Trustee of Fields in Trust and Chair of the Department for Levelling Up, Housing and Communities Select Committee to mark the publication of the Index enabled us to connect with a range of policy makers on the insight and to showcase our partnership with Liverpool City Council. Ian Byrne MP was joined by members of the Liverpool Friends of Parks Forum and spoke passionately about how the data and analysis created by Fields in Trust had enabled the pioneering programme to protect all 100 parks in Liverpool. Lord Benyon, Minister of State

During 2022 we joined organisations from across the environment, housing, planning, heritage and transport sectors to form the Better Planning Coalition united by the common goal of securing a planning system for climate, nature and people. The Coalition has enabled a unified approach to influencing the forthcoming planning legislation which will lead to some of the most significant changes in a generation. The 34 organisations in the Coalition are working together to promote a progressive vision of planning that delivers good quality and affordable homes, is democratic and locally led, has sustainability at its core, seeks to tackle the biodiversity and climate change crises and creates beautiful places. There is a significant opportunity to ensure that the importance of local multi-functional green space is prioritised in this new legislation and we’re pleased to have been able to join larger organisations to amplify the importance of this message.

We’ve also played an active role in the #NatureforEveryone campaign run by the Wildlife & Countryside Link which is seeking to embed equal access to nature for everyone in law. 1 in 3 of us don’t have access to nature rich spaces near to home and this is even more prevalent both in deprived areas and in areas with high levels of ethnicity. The aims of this campaign are closely aligned with our core mission and we’re pleased to be part of the campaign to raise awareness

Fields in Trust 2022 Report & Accounts

of these issues and use our collective lobbying power to demand change.

Parks Protector Pledgers

During 2022 we continued to build the network of elected representatives who support the 6 key asks in our manifesto for parks and green spaces. We now have 83 representatives in total including members of all of the UK’s elected Parliaments.

47 Westminster MPs

every year, was crowned the overall winner with home nation awards going to Stanley Park, Blackpool (England), Seaton Park, Aberdeen (Scotland) and Craigavon City Park, County Amagh (Northern Ireland).

Parks in all their glory were represented across the nominations from the small urban pocket parks to the grand scale of some of the best country parks providing a showcase of just some of the great spaces people enjoy spending time in.

3 members of the House of Lords
15 Members of the Scottish Parliament
6 Senedd Cymru members
5 Members of the NI Assembly
6 London Assembly Members
2 directly elected Mayors

New signatories during 2022 included Liz Twist MP Chair of the All Party Parliamentary Group on Parks and Green Spaces, David Simmons Chair of the APPG on Planning, and Baroness Parminter, Chair of the House of Lords Environment and Climate Change Committee. We look forward to working closely with the Pledgers to identify further opportunities to embed better provision and protection of parks and green spaces in forthcoming policy.

Campaigns

We know that people love their local parks and in 2022 we received 364 nominations from people wanting to see their local park crowned the UK’s Favourite Park. Over 30,000 votes were cast in the competition, which was also supported by 286 local MPs, MSPs and MSs keen to see the award go to their constituencies.

Penhros Coastal Park in Holyhead Wales , a 200 acre site with beaches, woodland walks that is visited by more than 100,000 people

PROTECTING OUR PARKS AND GREEN SPACES

We partnered with 18 Local Authorities, Town and Parish Councils in 2022 to protect 20 new spaces ensuring that a further 63,000 people in the UK are now live within a ten-minute walk of a permanently protected park or green space.

Alongside these individual protections we continued to work our three key partners Liverpool City Council, City of Edinburgh Council and Wrexham Country Borough Council on city-wide protection programmes.

In Liverpool we began telling some of the stories of the many people who use and love the local parks and green spaces that will be protected forever through our partnership. With the support of Liverpool City Council our campaign was featured on billboards across the City highlighting the universal role parks play in creating happy memories.

The City of Edinburgh Council began its public consultation on the first 10 spaces to be protected as part of the current programme and we look forward to moving into the next phase of delivery in early 2023.

Fields in Trust 2022 Report & Accounts

In September we signed a partnership with Wrexham County Borough Council to protect 10 country parks which will bring the total number of protected spaces across Wales to 300.

SUPPORTING OUR PARKS AND GREEN SPACES

People continued to benefit from the range of resources we have created and the Knowledge Base was visited 14,000 times during the year delivering useful information to parks users and volunteers. Alongside these online resources our expert team provided 1-1 advice to 900 individual enquiries.

Longevity is at the core of what we do and so the stewardship we provide to the spaces we protect is a crucial part of our service. During 2022 we processed 86 fields change requests with the support of our Planning and Policy Committee with a focus on ensuring changes enabled greater access to sport and play opportunities, community connections and positive environmental impact.

Many of the cases we worked on resulted in further investment into the spaces we protect such as Blakelaw Park in Newcastleupon-Tyne which will now be managed by the National Football Trust and receive funding from the Football Foundation to deliver high quality facilities for junior football.

Garber, Ann Heywood and Brian Samson who all retired as Trustees this year. Collectively they provided more than 39 years voluntary service and we are enormously grateful for their dedicated support and expertise.

We’re grateful for the pro-bono support we have received from multiple organisations this year. Thank you to Charlotte St Partners and USP for communications and PR support and to both CMS LLP and Freshfields Bruckhaus Deringer LLP for providing legal advice and hospitality.

We are enormously grateful to Howe Robinson for hosting a fundraising lunch with Gyles Brandreth and Joanna Lumley to mark the birthday of His Royal Highness the late Duke of Edinburgh and reflect on the many wonderful contributions he made as President of the charity.

Thank you also to the artist Matt DesLaurier for donating sale proceeds to support our work once again this year.

Fields in Trust is fortunate to have the loyal support of a range of funders just some of whom are listed below. Thank you to each one, it really does make a difference!

Linder Foundation
Peacock Charitable Trust
Dulverton Trust
Simon Gibson Charitable Trust
Spirax Sarco Group Charitable Trust
Lord's Taverners

ACKNOWLEDGEMENTS & THANKS

Christopher Laing Foundation

Thanks to all our trustees, supporters and donors for their time, energy and generosity throughout 2022. You have helped our work to champion, support and protect our precious green spaces. Special thanks to Paul

The Banister Family Charitable Trust
The Inman Charity
Miss A M Pilkington Charitable Trust
The 29[th] May 1961 Charitable Trust
Wimbledon Foundation

Fields in Trust 2022 Report & Accounts

• The Sir Arthur Cutforth Fund

green spaces nationally and protected locally.

LOOKING TO THE FUTURE

We believe that there has never been a better time to call for action to protect the future of parks and green spaces. Challenges to health and wellbeing, the climate emergency and the need to level up our inequitable communities all lead to a focus on positive place making that has parks and green spaces at its centre. A greener, fairer future for all.

Over the next 12 months we will;

Use our leading independent voice to convene industry and create new tools to support the design and delivery of inspiring green spaces.
Actively contribute to the evolving policy landscape positioning parks and green spaces as part of the solution to key agendas including Levelling Up, local climate change mitigation and health place making.
Provide excellent stewardship to the portfolio of spaces protected in perpetuity.
Support local communities and groups with help and advice on all issues relating to parks and green spaces through the Knowledge Base and other online resources.
Increase the number of people strategically impacted by a protected park or green space within a 10-minute walk of home.
Build partnerships with Local Authorities looking to demonstrate their commitment to the power of green spaces through portfolio protections.
Use our data to drive insights around the provision and protection and parks and green spaces.
Raise awareness of both the value and the vulnerability of parks and green spaces through public facing campaigns.
Empower communities to take action when parks and green spaces are under threat using our tools and resources.
Encourage policymakers and elected members to advocate for parks and

Fields in Trust 2022 Report & Accounts

FINANCIAL REVIEW

The Group consists of the consolidated accounts of Fields in Trust and its subsidiaries, NPFA Services Ltd and King George’s Field Foundation (henceforth referred to as ‘the Group’). The Charity consists of Fields in Trust’s accounts only (henceforth referred to as ‘the Charity’).

During 2022 total income was £0.55m and total costs were £1.3m.

projects and charitable activities as disclosed in note 7 to the accounts.

Reserves Policy

The Trustees review the charity’s anticipated income and expenditure actuals against budget on a regular basis taking into account planned investment and future operating programmes. Careful consideration is given to the following conditions when reviewing this policy:

The nature of the work

Funding Sources

Voluntary Income

Total voluntary income was £0.357m of which £0.253m was from charitable trusts and foundations.

Income from Charitable Activities

Income from other charitable activities totalled £0.122m and was generated largely from various field rents, technical advice and consultancy. We provide advice and information on the protection and improvement of parks, playing fields and green spaces which enables us to earn consultancy fees.

How the Funding was Spent

During the year £1.1m was spent on our charitable activities, helping to increase the number of parks and green spaces we protect in perpetuity and ensuring the continued stewardship of the stable of protected spaces.

We continue to strive to maintain administration costs at a low level. Overhead and governance costs were allocated across our

The lack of guaranteed regular income
Future needs, opportunities, contingencies and risks
Responsibilities and obligations to employees

The overall Group reserves balance was £2.8m (2021: £3.9m) and comprised:

Restricted Reserves £0.124m
Permanent Endowment Funds £0.082m
Designated Reserves (Fields Legacy Fund and fixed assets) £1.237m
Free Reserves £1.357m

Further details on the reserves balance are set out in Note 22.

Restricted Reserves

These reserves are derived from donations and grants with specific conditions attached. Total restricted reserves stand at £0.124m of which the main purposes are £0.076m held for the protection of parks and green spaces and £0.032m held for the specific development and improvement of protected sites.

Permanent Endowment Funds

Fields in Trust 2022 Report & Accounts

These represent sums given to the charity under terms requiring them to be invested for the support of parks and playing fields including specific named fields and total £0.082m.

Free and Designated Reserves

Free and designated reserves are available for use by the charity to achieve its strategic objectives. These funds arise from unrestricted donations and grants, investment income and the resultant surpluses generated from our day-to-day operations.

The free reserves represent those unrestricted funds not invested in tangible fixed assets or otherwise committed. The Trustees consider it prudent to retain these reserves at a level representing around twelve months forward expenditure in order to ensure the organisation can deliver its ongoing work. Twelve months forward expenditure is currently budgeted at £1.357m.

Eight years ago, the Trustees took the decision to set aside a designated Fields Legacy Fund in recognition of the significant increase in the number of parks and green spaces the charity now protects. Each year our Projects and Stewardship team deal with a wide range of issues relating to the stewardship of these sites including granting leases and considering applications for site changes and improvements. They work in conjunction with the Planning and Policy Committee to support the sites with these changes. This work does not deliver the type of quantifiable outcome that voluntary income funders are looking to support and therefore it is prudent to ensure that the charity has sufficient reserves to be able to fulfil its ongoing obligations to the sites

protected in perpetuity. The Fields Legacy Fund currently stands at £0.756m.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The Group holds a sufficient level of managed investments in equities, bonds and liquidity funds to meet all known liabilities for the foreseeable future and provide for:

twelve months forward expenditure to enable the delivery of the organisation’s planned operational activity; and
longer term obligations to sites protected in perpetuity.

Investment Policy and Performance

In accordance with the charity’s Royal Charter, the Trustees have the power to invest in such stocks, shares, investments, and property as they deem appropriate. The majority of the investment portfolio is managed by Stonehage Fleming, from whom advice is sought on an ongoing basis. In managing the investments and making or varying the investments, the investment manager has regard to the following criteria:

a) The suitability of any class of investments to the charity;

b) The suitability of any particular investment within that class;

c) The need for diversification of the investments of the Charity, so far as is appropriate to the circumstances of the charity

Our Audit Committee reviews the underlying principles of our investments at least annually ensuring that the majority of investments are held in Charities Official Investment Funds. Our largest holding is with the COIF Charities Global Equity Income Fund

Fields in Trust 2022 Report & Accounts

which follows a client driven ethical investment policy.

Most of the investments are held for the long term, although some are held as current asset investments to meet liquidity needs for the next 12 months.

The Trustees’ key objectives for long term investments are to preserve capital and income and to target a total annual return of RPI + 3% plus a desirable income yield of 3%. The performance of the investment portfolio is reviewed by the audit committee which meets up to four times a year.

The value of the Group investments (excluding cash held for reinvestment) fell by 31.6% in the year, and the Charity’s investments (excluding cash held for re-investment) fell by 33.3% in the year. The Group and Charity portfolios produced income yields of 2.9% and 2.7% respectively compared to the desired income target of 3.0%.

The fall in the value of the Group and Charity’s investments reflected:

a) the authorised drawdown of £0.75m in year for planned expenditure
b) a more conservative approach in rebalancing the portfolio to increase the percentage held in fixed interest bonds in the face of increased market volatility.
c) market falls in the valuation of our global equity investments during 2022

Fundraising Approach

In 2022 Fields in Trust conducted all its fundraising approaches through its inhouse fundraising team and did not use any third

parties or commercial participators. Most of this activity was focussed on approaches to trusts and foundations and this accounts for the majority of the charity’s voluntary income.

Fields in Trust is registered with the Fundraising Regulator and complies with its standards to ensure that our fundraising technique is open, honest, fair and accountable.

Should the Fields in Trust team encounter people who may be considered vulnerable or who need additional support to make an informed decision about donating to us then we will ensure they are provided with all relevant information. If we believe an individual is not able to make a decision, then we will not accept that donation.

We adhere to the Institute of Fundraising’s Four Key Principles for considerate fundraising:

1) Respect

Fields in Trust fundraisers must always be respectful. This means being mindful of, and sensitive to, any particular need that a donor may have. It also means striving to respect the wishes and preferences of the donor.

2) Fairness

Fields in Trust fundraisers must always treat donors fairly. This includes not discriminating against any group or individual based on their appearance or health conditions.

3) Responsive

Fields in Trust 2022 Report & Accounts

Fields in Trust fundraisers must respond appropriately to the individual needs of each donor. The responsibility lies with fundraisers to adapt their approach (tone, language, communication technique) to suit the needs and requirements of the donor.

4) Accountable

At Fields in Trust we take responsibility for our actions, ensuring that our fundraising is carried out in line with the Code of Fundraising Practice.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Fields in Trust is a registered charity established as the National Playing Fields Association in 1925 and incorporated by Royal Charter in 1933. The Charter, together with subsequent amendments, forms its governing document. Fields in Trust operates throughout the UK and is also registered with the Office of the Scottish Charity Regulator (OSCR).

Council of Trustees

The charity is governed by a Council of a maximum of fourteen Trustees who serve a three -year term and are then eligible to stand for re-election. Trustees are appointed for their relevant experience and for the breadth of contribution they can offer to the charity.

All new Trustees receive a briefing on their duties and obligations under the Charter and the role and responsibilities of a Trustee.

The Council of Trustees meets at least four times a year and appoints appropriate committees to manage the charity’s affairs. There are currently five committees:

Fields in Trust Cymru Committee
Fields in Trust Scotland Committee
Audit Committee
Planning & Policy Committee
Fundraising & Marketing Committee

The charity has operated as Fields in Trust since 2007. In 2019 Privy Council approved an amendment to the Royal Charter to change the organisation’s name to Fields in Trust. This change was officially made when the Charter was sealed on 27[th] January 2020.

Fields in Trust has a wholly owned subsidiary trading company, NPFA Services Limited, which was dormant during 2020 and a charitable subsidiary, King George’s Field Foundation.

Fields in Trust 2022 Report & Accounts

Risk Management

The Trustees have a risk management strategy which comprises:

A regular review of the principal risks and uncertainties that the charity faces.
The establishment of policies, systems and procedures to mitigate those risks identified in the review.
The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.

This has identified that future funding and the prevailing financial climate are the major risks to the future sustainability of the organisation. These factors are linked and also impact on the return on the charity’s investments. A key element in the management of this financial risk has been the implementation of a strategy to:

Focus fundraising on diversifying income streams.
Review income against targets on a regular basis.
Monitor expenditure against budgets and reduce commitments accordingly.
Assess the effectiveness of the investment policy and the performance of the charity’s investments.

Management and Staffing

The Trustees appoint a Chief Executive who has delegated authority to implement Council’s decisions and is responsible for the day to day management of the charity and of the highly committed and professional team. The Chief Executive is supported by the Senior Management Team.

Chief Executive	Helen Griffiths
Finance Manager	GuyDigby
Head of Projects and Stewardship	Tamsin Fudge
Head of Marketing & Communications	Emma Simon (from Novem- ber 2022)
Research & Policy Man- ager	Alison McCann
Head of Fundraising	SallyBarney

Remuneration Policy

The pay of all staff is reviewed annually and in 2022 increased in accordance with the consumer price index. The Trustees benchmark against pay levels in other charities of a similar size within Central London. The remuneration benchmark is the lower point of the range paid for similar roles adjusted for any additional skills or responsibilities. The maximum pay is no greater than the highest benchmarked salary for a comparable role or for the equivalent market rate for the position.

Professional Services

Bankers	HSBCplc London
	Lloyds Bank plc Lon- don
	Clydesdale Bank plc Edinburgh
Solicitors	Freshfields Bruck- haus Deringer LLP London
	Russell Cooke LLP London
	CMS LLP Edinburgh
Investment Man- agers	Stonehage FlemingLondon
Auditors	Sayer Vincent LLP London

Fields in Trust 2022 Report & Accounts

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the report of the Trustees 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 and Wales and Scotland 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 charity and the group and of the incoming resources and application of resources of the group for that period. In preparing these financial statements, the trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities Statement of Recommended Practice;

Regulations 2006 (as amended) and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Sayer Vincent LLP was re-appointed as the group and charity's auditor during the year and has expressed its willingness to continue in that capacity.

Approved by the Council of Trustees on 21st March 2023 and signed on its behalf by

Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

Jo Barnett Chair

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of 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, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland)

Independent auditor`s report To the members of Fields in Trust

Opinion

We have audited the financial statements of Fields in Trust (the ‘parent charitable company’) and its subsidiary/subsidiaries (the ‘group’) for the year ended 31 December 2022 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 December 2022 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulations 6 and 8 of the Charities Accounts (Scotland) Regulation 2006 (as amended)

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 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 Fields in Trust'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.

Other Information

The other information comprises the information included in the trustees’ 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

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Independent auditor`s report To the members of Fields in Trust

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.

Opinions on other matters prescribed by the Companies Act

2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements
The trustees’ annual report has been prepared in accordance with applicable legal requirements

Matters on which we are re-

quired to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
The parent charitable company financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company law) 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 deter- ~~mine is necessary t~~ o enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Independent auditor`s report To the members of Fields in Trust

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial state-

ments

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

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.

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 extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management, and the Audit Committee, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience.
We communicated applicable laws and regulations throughout the audit team and remained alert to any indications

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Independent auditor`s report To the members of Fields in Trust

of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005. Our audit work has been undertaken so that we might state to the charitable company's members 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.

Joanna Pittman (Senior statutory auditor) 27 March 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006

Fields in Trust, 36 Woodstock Grove, London, W12 8LE | www.fieldsintrust.org

Green Spaces for Good

Fields in Trust

Consolidated Statement of Financial Activities

For the year ended 31 December 2022

For theyear ended 31 December 2022
Note Income from: 3 4 5 6 7 22 Reconciliation of funds Investments Total income Expenditure on: Donations and legacies Charitable activities Protect Parks and Green Spaces Raising funds Charitable activities Protect Parks and Green Spaces Support Parks and Green Spaces Champion Parks and Green Spaces Total expenditure Net (expenditure) / income before net gains / (losses) on investments Net gains / (losses) on investments Coronavirus Job Retention Scheme grants Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward	General fund Designated Funds £'000 £'000 286 - - - 122 - 70 - Unrestricted Funds		Income Funds Permanent Endowments £'000 £'000 71 - - - - - - 1 Restricted Funds		2022 Total £'000 357 - 122 71	2021 Total £'000 532 37 95 80
	478	-	71	1	550	744
	150 467 32 446	- - - -	- 120 11 44	- - - -	150 587 43 490	135 587 38 462
	1,095	-	175	-	1,270	1,222
	(363) (617)	- -	- (104)	(6) 1	(369) (720)	289 (478)
	991	(1,002)	11	-	0	-
	11 1,346	(1,002) 2,239	(93) 217	(5) 87	(1,089) 3,889	(189) 4,078
	1,357	1,237	124	82	2,800	3,889

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 23 to the financial statements.

Fields in Trust

Balance sheets

As at 31 December 2022

As at 31 December 2022
Note 14 15 18 19 19 21 Income Funds Permanent Endowment Funds Designated funds General funds 22 Current asset investments Total unrestricted funds Net current assets Total assets less current liabilities Total net assets Liabilities Creditors: amounts falling due after one year Total charity funds Unrestricted funds Funds Total Restricted Funds Fixed assets Current assets Cash at bank and in hand Tangible assets Investments Debtors Creditors: amounts falling due within one year Restricted income funds	2022 2021 £'000 £'000 481 488 1,925 3,249 2,406 3,737 73 67 561 374 165 186 799 627 405 392 394 235 2,800 3,972 - 83 2,800 3,889 124 217 82 87 206 304 1,237 2,239 1,357 1,346 2,594 3,585 2,800 3,889 The group		2022 2021 £'000 £'000 481 488 1,725 3,034 2,206 3,522 73 67 561 374 211 218 845 659 448 436 397 223 2,603 3,745 - 83 2,603 3,662 124 217 43 46 166 263 1,080 2,052 1,356 1,346 2,437 3,398 2,603 3,662 The charity
	2,406	3,737	2,206	3,522
	73 561 165	67 374 186	73 561 211	67 374 218
	799 405 394	627 392 235	845 448 397	659 436 223
	2,800	3,972	2,603	3,745
	-	83	-	83
	2,800	3,889	2,603	3,662
	124 82	217 87	124 43	217 46
	206	304	166	263
	1,237 1,357	2,239 1,346	1,080 1,356	2,052 1,346
	2,594	3,585	2,437	3,398
	2,800	3,889	2,603	3,662

Approved by the trustees on 21st March 2023 and signed on their behalf by

Jo Barnett Chair

Jeremy Hammond Treasurer

Fields in Trust

Consolidated statement of cash flows

For the year ended 31 December 2022

Reconciliation of net income / (expenditure) to net cash flow from operating activities

Reconciliation of net income / (expenditure) to net cash flow	from operating activities	from operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial activities) Depreciation charges (Gains)/losses on investments Dividends, interest and rent from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by / (used in) operating activities Cash at bank and in hand Total cash and cash equivalents Loans falling due within one year Total Cash flows from operating activities Net cash provided by / (used in) investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities Dividends, interest and rents from investments Purchase of fixed assets Proceeds from sale of investments Purchase of investments Drawdown of / (increase in) current asset investments Loans falling due after one year Analysis of cash and cash equivalents and of net debt Net cash provided by financing activities Cash and cash equivalents at the beginning of the year Net movement in cash held for investment portfolio Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year Cash flows from financing activities: Cash inflows from new borrowing Repayments of borrowing	£'000 £'000 (723) 71 (12) 973 (187) (16) (2) 827 (125) - (125) (21) 186 165 At 1 January 2022 Cash flows £ £ 186 (21) 186 (21) (125) 42 (83) 83 0 (22) 104 2022		2022 £'000 (1089) 20 369 (71) (6) 54	2021 £'000 (189) 20 (289) (80) 11 (1)
			(723)	(527)
	(125) -		(42) -
		(125)		(42)
	At 1 January 2022 £ 186		Other non- cash changes £ -
		(21)		(66)
		186		252
		165		186
		Cash flows £ (21)		At 31 December 2022 £ 165
	186	(21)	-	165
	(125) (83) 0 (22)	42 83 104	- - -	(83) - 82

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies

a) Statutory information

Fields in Trust is incorporated by Royal Charter and registered charity in England and Wales, and in Scotland.

The registered office address is Unit 2D Woodstock Studios, 36 Woodstock Grove, London W12 8LE.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018) and the Charities Act 2011.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

Basis of preparation - group accounts

These financial statements consolidate the results of the charity and its wholly-owned subsidiaries NPFA Services Limited and King George's Field Foundation on a line by line basis. Transactions and balances between the charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two entities are disclosed in the notes of the charity's balance sheet.

The accounts (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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The Group holds a sufficient leveI of managed investments in equities, bonds and liquidity funds to meet all known liabilities for the foreseeable future and provide for:

twelve months forward expenditure to enable the delivery of the organisation’s planned operational activity; and
longer term obligations to sites protected in perpetuity.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from grants, whether capital grants or revenue grants, is recognised when the charity has entitlement to the funds; any performance conditions attached to the grants have been met; it is probable that the income will be received; and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees to ensure that Fields in Trust is able to fulfil its ongoing obligations to the stewardship of parks and green spaces protected in perpetuity.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose, and the costs of managing investments.
Expenditure on charitable activities includes the costs of delivering services, advice, technical support and other related activities undertaken to further the purposes of the charity and their associated support costs.
Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Grant making

Grants payable are charged to the Statement of Financial Activities in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled.

k) Allocation of overhead costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following bases which are an estimate, based on staff time, of the amount attributable to each activity.

Protect Parks and Green Spaces 47% (2021 -59%, )
Support Parks and Green Spaces 5% (2021 - 4%)  Champion Parks and Green Spaces 48% (2021 - 37%)

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Overhead and governance costs are re-allocated to each of the activities on a similar basis which is an estimate, based on staff time, of the amount attributable to each activity.

l) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

1 Accounting policies (continued)

m) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Long leasehold properties
Office Furniture  Office and IT Equipment and Database

50 years 10 years 4 years

n) Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities.

Investments in subsidiaries

Investments in subsidiaries are at cost.

o) Debtors

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

p) Cash at bank and in hand

Cash at bank and cash 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. Funds held exclude bank balances for accounts held in Scottish branches. Cash at bank includes balances in investment accounts that are intended to be drawn down in the next 12 months.

q) Creditors and provisions

Creditors and provisions 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 or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

r) Funds held as custodian

The charity, acting as custodian trustee, holds permanent endowment investments not included in the balance sheet. However, income arising from the investments is received into the Fields in Trust's bank account and correspondingly shown as a creditor on the balance sheet.

More information on these funds and the balances held is provided in note 25.

s) Financial instruments

The charity and group have both basic and non-basic financial assets and financial liabilities. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Non-basic financial instruments are measured at fair value with any gain or loss going to the statement of financial activities. Full details are given in the financial instruments note.

t) Pensions

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

2 Detailed comparatives for SOFA (prior year)

Detailed comparatives for SOFA (prior year)
Champion Parks and Green Spaces Protect Parks and Green Spaces Support Parks and Green Spaces Champion Parks and Green Spaces Gifts Income from: Charitable activities Protect Parks and Green Spaces Coronavirus Job Retention Scheme grants Transfers between funds Income from donations and legacies (current year) Total expenditure Expenditure on: Charitable activities Raising funds Net income / expenditure Donations and legacies Total funds brought forward Total funds carried forward Net movement in funds Gifts in Kind included in the above voluntary income a Charlotte Street Partners (PR support) CMS LLP (event costs) Investments Total income Reconciliation of funds Donated services Net income / expenditure before net gains / (losses) on investments Net gains/ (losses) on investments	General fund Designated fund £'000 £'000 445 - 37 - 95 - - - 79 - 656 - 135 - 486 - 16 - 380 - 1,017 - (361) - 287 (74) - 300 (326) 226 (326) 1,119 2,566 1,345 2,240 Unrestricted £'000 279 7 286 Unrestricted Funds re as follows		Income funds Permanent Endowment £'000 £'000 87 - - - - - - - - 1 87 1 - - 101 - 22 - 82 - 205 - (118) 1 - 2 (118) 3 26 - (91) 3 308 84 217 87 Restricted 2022 Total £'000 £'000 71 350 - 7 71 356 3 4 7 Restricted Funds		2021 Total £'000 532 37 95 - 80
	656	-	87	1	744
	135 486 16 380	- - - -	- 101 22 82	- - - -	135 587 38 462
	1,017	-	205	-	1,222
	(361) 287	-	(118) -	1 2	(478) 289
	(74) 300	- (326)	(118) 26	3 -	(189) -
	226 1,119	(326) 2,566	(91) 308	3 84	(189) 4,078
	1,345	2,240	217	87	3,889
	re as follows	Unrestricted £'000 279 7	Restricted £'000 71 -	2022 Total £'000 350 7	2021 Total £'000 445 87
		286	71	356	532
				3 4	85 2
				7	87

3a Income from donations and legacies (current year)

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022
3b 4 Income from donations and legacies (prior year) Gifts Donated services Grants Coronavirus Job Retention Scheme grants	Unrestricted £'000 -	Unrestricted £'000 358 87	Restricted £'000 87 -	2021 Total £'000 445 87
		445	87	532
		Restricted £'000 -	2022 Total £'000 -	2021 Total £'000 37
	-	-	-	37

Prior year Grants claimed from the Coronavirus Job Retention Scheme to cover a portion of salaried costs for employees furloughed between 1 January and 31 March 2021

5 Field income and rents Sub-total for Protect Parks and Green Spaces Technical consultancy Total income from charitable activities (unrestricted in both years) Income from charitable activities (current year)	2022 Total £'000 72 50	2021 Total £'000 49 47
	122	95
	122	95

6a Income from investments (current year)

6a Income from investments (current year)
6b Interest on cash deposits and loans Investment income Income from investments (prior year) Investment income Interest on cash deposits and loans	Unrestricted £'000 70 0	Restricted £'000 1 -	2022 Total £'000 71 0
	70	1	71
	Unrestricted £'000 79 -	Restricted £'000 1 -	2021 Total £'000 80 -

	79	1	80

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

7a Analysis of expenditure (current year)

Charitable activities	Charitable activities	Charitable activities	Governance Costs £'000 33 - - - 19 2 1 - - - -	Raising funds £'000 110 - - - 21 16 2 2 - -	Overheads £'000 185 49 27 7 42 28 - 15 - - -	2022 Total £'000 679 49 27 8 43 49 19 104 11 114 12 119 36	2021 Total £'000 728 38 25 7 37 50 16 48 2 150 6 78 36
Protect Parks and Green Spaces £'000 168 - - - 2 9 66 119 29	Support Parks and Green Spaces £'000 17 - - - - - - - - - - - 7	Champion Parks and Green Spaces £'000 166 - - 1 1 - - 70 1 46 10 - -
393 167 26	24 17 3	294 169 26	55 - (55)	150 - -	353 (353) -	1,270 - -	1,221 - -
586	44	490	-	150	-	1,270	1,221
587	37	179	-	132	-	935

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

7b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff costs (note 10) HR and pool car costs Accommodation costs Office costs and charges IT costs Finance charges Governance and committee costs Consultancy and research costs Travel and subsistence Communications costs Awards and other event costs Field costs and charges Grants expenditure (note 8) Overheads Governance Costs Total expenditure 2021	Charitable activities			Governance Costs £'000 49 - - - 16 1 - - -	Raising funds £'000 97 - - - 23 - 10 - 5 - -	Overheads £'000 250 38 25 6 36 27 - 8 8 - -	2021 Total £'000 728 38 25 7 37 50 16 48 2 150 6 78 36
	Protect Parks and Green Spaces £'000 195 - 1 - - 1 2 - 78 36	Support Parks and Green Spaces £'000 13 - - - - - - - - 6 - - -	Champion Parks and Green Spaces £'000 124 - - 30 1 132 1 - -
	314 234 39	19 16 2	288 149 25	66 - (66)	135 - -	399 (399) -	1,221 - -
	587	37	462	-	135	-	1,221

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

8 Grant making

Grant making e year ended 31 December 2022
Cost London Marathon Charitable Trust Core Areas Fund London Marathon Charitable Trust National Fund At the end of the year Strathclyde Branch grants	Grants to institutions £'000 12 17 7	2022 £'000 12 17 7	2021 £'000 6 30 -
	36	36	36

Where resources allow, Fields in Trust may award grants for the improvement and maintenance of playing fields, play areas and recreational schemes and related purposes on condition the field is under the charity's protection. In 2022, grants were made from two funds provided by The London Marathon Charitable Trust towards the delivery of protection and activation programmes across the UK. The activation programme included grants for the delivery of activity programmes targeted at the physically inactive at protected sites.

In addition in 2022, the Strathclyde branch of Fields in Trust dissolved itself and as part of its dissolution made grants to Scottish sports clubs and associations for the benefit of junior participation programmes

9 Net expenditure for the year

This is stated after charging / crediting:

This is stated after charging / crediting:
	2022	2021
	£'000	£'000
Depreciation	20	20
Trustee indemnity insurance	7	6
Trustees' reimbursed travel expenses:
0 trustees (2021: 0)	-	-
Operating lease rentals	1	1
Auditor's remuneration (excluding VAT):
Audit	11	10
Other services	1	1

10 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:

Staff costs were as follows:
Temporary staff costs Salaries and wages * Employer’s contribution to defined contribution pension schemes Social security costs	2022 £'000 568 66 25 20	2021 £'000 639 66 23 1
	679	728

Salaries and wages include termination payments of £nil (2021: £66,597)

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

during the year between:
	2022	2021
	£'000	£'000
£100,001 - £110,000	1	-
£90,001 - £100,000	-	1
£60,001 -£70,000	1	-

The key management personnel of the charity in 2022 comprised the trustees, the Chief Executive Officer and the Senior Management team. The total employee benefits including pension contributions of the key management personnel were £418,817 (2021: £373,350).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2021: £nil) incurred by 0 (2021: 0) members relating to attendance at meetings of the trustees.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

11 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Protect Parks and Green Spaces Raising funds Support Parks and Green Spaces Champion Parks and Green Spaces	2022 No. 2 5 1 5	2021 No. 2 7 1 4
	13	14

12 Related party transactions

Aggregate donations from related parties were £1,000 (2021: £1,015). There were no other transactions with related parties.

13 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Cost Depreciation Net book value At the start of the year Additions in year At the end of the year At the end of the year At the start of the year Charge for the year At the start of the year At the end of the year	Long Leasehold property £'000 680 -	Office/IT Equipment £'000 36 10	Database £'000 38 -	Office Furniture £'000 8 3	Total £'000 762 13
	680	46	38	11	775
	201 14	29 6	38 -	6 1	274 20
	215	34	38	7	294
	465	11	()	3	481
	479	8	()	2	488

All of the above assets are used for charitable purposes.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

15a Listed investments

e year ended 31 December 2022 Listed investments
Fair value at the start of the year Total value of investments Additions at cost Disposal proceeds Net gain / (loss) on change in fair value Fair value at the end of the year UK Common Investment Funds Investment in UK subsidiary undertakings Investments fund portfolio Cash held by investment broker pending reinvestment Shares held in subsidiary	2022 2021 £'000 £'000 3,236 3,147 16 - (973) (200) (369) 289 1,910 3,236 16 14 - - 1,925 3,249 1,925 3,249 - - 1,925 3,249 The group		2022 2021 £'000 £'000 3,007 2,937 16 - (973) (200) (353) 270 1,696 3,007 16 14 14 14 1,726 3,034 1,712 3,020 14 14 1,726 3,034 The charity
	1,910	3,236	1,696	3,007
	16 -	14 -	16 14	14 14
	1,925	3,249	1,726	3,034
	1,925 -	3,249 -	1,712 14	3,020 14
	1,925	3,249	1,726	3,034

Investments representing over 5% by value of the portfolio comprise:

Investments representing over 5% by value of the portfolio comprise:
	The group		The charity
	2022	2021	2022	2021
	£'000	£'000	£'000	£'000
CCLA Investment Management Ltd: Global Equity Income Fund	1,394	2,149	1,394	2,149
M&G Investments: Charibond Charities Fixed Interest CIF	269	819	269	819
M&G Investments: Equities Investment Fund for Charities	164	174	-	-

15b In 2020, the JP Morgan Asset Management Liquidity Fund was re-classified as a current asset investment on the basis that the charity intends to use these funds within the next 12 months. This position remained unaltered in 2022

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

16 Subsidiary undertakings

a) The charity owns the whole of the issued ordinary share capital of NPFA Services limited, a company registered in England. The subsidiary is used for non-primary purpose trading activities. During the year there were no transactions. Available profits are gift aided to the charitable company. A summary of the results of the subsidiary is shown below:

gift aided to the charitable company. A summary of the results of the subsidiary is shown below:
The aggregate of the assets, liabilities and funds was: Assets Liabilities Funds	2022 £'000 14 -	2021 £'000 14 -
	14	14

b) In 2018, the charity took over the assets and liabilities of The King George's Field Foundation (charity number 220766) as a charitable subsidiary for nil consideration. All activities have been consolidated on a line for line basis in the statement of financial activities. The charity is the sole trustee of the subsidiary.

A summary of the results of the subsidiary are shown below:

financial activities. The charity is the sole trustee of the subsidiary. A summary of the results of the subsidiary are shown below:
	Unrestricted	Restricted
	Funds	Funds
		Permanent
	General Fund	Endowment	2022
	£'000	£'000	£'000
Investment income	10	-	10
Total income	10	-	10
Total expenditure	25	-	25
Net income / expenditure before net gains / (losses) on investments	(14)	-	(14)
Net (losses) / gains on investments	(16)	-	(16)
Net income / (expenditure)	(30)	-	(30)

The aggregate of the assets, liabilities and funds was: Assets Liabilities Funds	2022 £'000 244 (46)
	198

The prior year figures were:

The prior year figures were:
Investment income Total income Total expenditure Net income / expenditure before net gains / (losses) on Net (losses) / gains on investments Net income / (expenditure)	Unrestricted Funds General Fund £'000 9	Restricted Funds Permanent Endowment £'000 -	2021 £'000 9
	9 17 (8)	- - -	9 17 (8)
	19	-	19
	11	-	11

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

Subsidiary undertakings (continued)

Subsidiary undertakings (continued)
The aggregate of the assets, liabilities and funds was: Assets Liabilities Funds	2021 £'000 259 (32)
	227

17 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

Parent charity The parent charity's gross income and the results for the year	are disclosed as follows:
	2022	2021
	£'000	£'000
Gross income	539	735
Result for the year	(1059)	(199)

18 Debtors

Debtors
Taxation and other social security Other debtors Trade debtors Prepayments and accrued income	2022 2021 £'000 £'000 25 13 2 - 42 41 4 12 73 67 The group		2022 2021 £'000 £'000 25 13 2 - 42 41 4 12 73 67 The charity
	73	67	73	67

19 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
a) Amounts falling due within one year b) Amounts falling due after one year Coronavirus Business Interruption Loan Trade creditors Income held as Custodian Trustee Taxation and other social security Investment held in subsidiary (NPFA Services Ltd) Income held on behalf of subsidiary (King George's Fields Foundation) Accruals and deferred income Coronavirus Business Interruption Loan	2022 2021 £'000 £'000 41 10 21 16 31 26 83 125 229 215 - - - - 405 392 - 83 - 83 The group		2022 2021 £'000 £'000 41 10 21 16 31 26 83 125 229 215 14 14 30 30 448 436 - 83 - 83 The charity
	405	392	448	436
	-	83	-	83
	-	83	-	83

The Coronavirus Business Interruption Loan is provided by our bankers, HSBC UK Bank plc, for general working capital requirements. The original loan was unsecured, required no interest payments and was repayable in full one year after the date of the drawdown of the loan which took place in August 2020. A variation to the loan was agreed in July 2021 provided for monthly repayment of the loan over 24 months from September 2021.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

20 Financial instruments

Financial instruments
	2022	2021
	£'000	£'000
Financial assets measured at fair value through statement of financial activities
Fixed asset investments	1,925	3,249
Current asset investments	561	374

21a Analysis of group net assets between funds (current year)

Analysis of group net assets between funds (current year)
Investments Net current assets / (liabilities) Net assets at the end of the year Tangible fixed assets	General unrestricted £'000 - 1,095 262	Designated funds £'000 481 756 -	Restricted funds £'000 - 74 132	Total funds £'000 481 1,925 394
	1,357	1,237	206	2,800

21b Analysis of group net assets between funds (prior year)

Analysis of group net assets between funds (prior year)
Tangible fixed assets Investments Net current assets / (liabilities) Net assets at the end of the year	General unrestricted £'000 - 1,419 (73)	Designated funds £'000 488 1,751 -	Restricted funds £'000 - 79 225	Total funds £'000 488 3,249 152
	1,346	2,239	304	3,889

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022
22a Restricted funds: Total restricted income funds Total designated funds General funds Movements in funds (current year) Total unrestricted funds Fixed Assets County Donations, QEII Challenge Geographically restricted funds: Designated funds: Centenary Fields restricted funds Filwood Playing Field, Bristol Protection of playing fields and play space: The London Marathon Charitable Trust Core Areas Grant The London Marathon Charitable Trust National Grant King George's Fields Foundation Championing and Advocacy Green Spaces Index Other income funds Future Proof Parks, National Heritage Lottery Fund Unrestricted funds: Fields Legacy Fund Total restricted funds Permanent endowment funds Kendal Playing Field Other field endowments Total permanent endowments Recreational development: Inclusion fund (Disabled Play Project) Fields development: London Marathon Trust Total funds	At 1 January 2022 £'000 27 5 50 23 6	Income & gains £'000 - - - - -	Expenditure & losses £'000 - (13) (17) (13) -	Transfers £'000 - 11 - - -	At 31 December 2022 £'000 27 1 33 10 6
	111 61 7 24	- - - -	(44) (52) - (9)	11 - - -	77 9 7 15
	92 16	- -	(60) -	- -	32 16
	16 - -	- 20 51	- (20) (51)	- - -	16 - -
	217	71	(175)	11	124
	44 1 41	1 -	(5) - -	- - -	40 1 41
	86	1	(5)	-	82
	304	72	(180)	11	206
	1,731 508	- -	- -	(975) (27)	756 481
	2,239	-	-	-	1,237
	1,346	477	(1,458)	991	1,357
	3,585	477	(1,458)	991	2,593
	3,889	549	(1,638)	1,002	2,801

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

Movements in funds (continued)

Purposes of restricted funds

Protection of playing fields and play space

These funds are for the protection of new sites (including the promotion of such programmes) and for improvements to those already protected by the charity.

Fields development

These funds provide for the development of protected sites and contribute to, for example, new pavilions, site drainage and resurfacing etc.

Recreational development

The Inclusion Fund is for the creation and improvement on protected sites of recreational facilities designed for children with disabilities.

Geographically restricted donations

This fund reflects the requirements of certain donors who have specified a location or country in which their donations should be utilised.

Purposes of Endowment funds

These permanent endowment funds provide for the cost of maintaining and improving recreational facilities at four owned Fields in Trust sites (Bluebell Hill Cricket Ground, and Kendal Playing Field).

Purposes of designated funds

Fields legacy fund

The trustees have chosen to set aside this fund for the future of the significantly increased number of fields that the charity now safeguards. The fund covers activities within both the parent charity and the charitable subsidiary. During the year, transfers were made between this fund and the general fund to recognise the staff time spent on these safeguarded fields.

Fixed assets

This fund reflects the trustees' decision to designate the value of the charity's fixed assets, comprising in the main the longleasehold building occupied by the charity.

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

For the year ended 31 December 2022
22b Restricted funds: Total restricted income funds Total designated funds General funds Movements in funds (prior year) County Donations, QEII Challenge Future Proof Parks, National Heritage Lottery Fund Recreational development: Inclusion fund (Disabled Play Project) Championing and Advocacy Protection of playing fields and play space: Unrestricted funds: Designated funds: Centenary Fields restricted funds The London Marathon Charitable Trust Core Areas Grant The London Marathon Charitable Trust National Grant Filwood Playing Field, Bristol Other income funds Green Spaces Index Fields development: London Marathon Trust Total unrestricted funds Total funds Geographically restricted funds: Fixed Assets Permanent endowment funds Kendal Playing Field Other field endowments King George's Fields Foundation Total permanent endowments Total restricted funds Fields Legacy Fund	At 1 January 2021 £'000 27 15 85 53 6	Income & gains £'000 - - - - -	Expenditure & losses £'000 - (11) (35) (31) -	Transfers £'000 - - - - -	At 30 December 2021 £'000 27 4 50 23 6
	186 61 7 39	- - - 5	(76) - - (20)	- - - -	111 61 7 24
	107 16	5 -	(20) -	- -	92 16
	16 - -	- 40 42	- (66) (42)	- 26 -	16 - -
	308	87	(204)	26	217
	44 1 41	3 - -	(1) - -	- - -	46 1 41
	84	3	(1)	-	88
	392	90	(204)	26	304
	2,058 508	- -	- -	(326) -	1,731 508
	2,566	-	-	(326)	2,239
	1,120	943	(1,016)	300	1,346
	3,686	943	(1,016)	(26)	3,585
	4,078	1,033	(1,221)	-	3,889

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

following periods:
Less than 1 year 1 - 2 years	2022 2021 £'000 £'000 - 1 - - - 1 Other
	-	1

23 Operating lease commitments

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2022

24 Legal status of the charity

The charity is incorporated by Royal Charter and has no share capital.

25 Other funds held

a) The charity holds the sole trusteeship for two other charities registered with the Charity Commission as follows:

King George’s Fields Stepney (charity number 1001827).

Playing Field and Recreation Ground Holt (charity number 1091667).

The charity, acting as custodian trustee , holds permanent endowment investment funds for the charities separately from its own assets as a parent. The charity has not consolidated these funds into the charity's accounts as subsidiaries as limitations in the original schemes present severe long term restrictions as to how the funds can be used. The charity has determined that it will seek to address and resolve these restrictions through discussions with the Charity Commission.

However, income arising from these investments is received into the charity's bank account and shown correspondingly as a creditor on the balance sheet. The value of these funds were as follows:

creditor on the balance sheet. The value of these funds were as follows:
Book value Market value Book value Market value King George's Fields Stepney Playing Field and Recreation Ground Holt	2022 £'000 85	2021 £'000 85
	168 132	183 132
	181	197

b) In addition, the charity, acting as custodian trustee, holds permanent endowment investments for the following playing fields for which it is not the sole trustee.

Dolwyddelan Playing Field, Gwynedd Haling Grove, Croydon (Eleanor Shorter Fund) Lightwater Playing Field, Surrey Firgrove Playing Field, Rochdale, Manchester Pen Park, Bristol Watersfield Playing Field, Sussex

The custodian permanent investments are held separately from the charity's own assets and are not included in the charity's balance sheet. However the income arising from the investments is received into the charity's bank account and shown correspondingly as a creditor on the balance sheet. The combined value of these investments were:

Book value Market value	2022 £'000 233	2021 £'000 233
	321	354

c) The objects of all the above trusts are similar to those of the charity and concerned with the protection and improvement of recreational space.

2022-12-31-accounts

ANNUAL REPORT AND FINANCIAL

STATEMENTS

Fields in Trust was founded in 1925 as the National Playing Fields Association and incorporated by Royal Charter in 1933.

Patron

President

HRH The Prince of Wales KG KT

Vice Presidents

Trustees and Members of Council

CONTENTS

Statement from Chair of Trustees

Trustees’ Report

Auditor’s Report

Consolidated Statement of Financial Activities

Balance Sheets

Consolidated Statement of Cashflows

Notes to the Financial Statements

STATEMENT FROM THE CHAIR OF

TRUSTEES

Jo Barnett

Chair

TRUSTEES’ REPORT

Our Mission

About Us

Public Benefit

REMEMBERING HM THE QUEEN

PATRON OF FIELDS IN TRUST, 1952-2022

2022 ACHIEVEMENTS

CHAMPIONING OUR PARKS AND GREEN SPACES

Reimagining Parks and Green Spaces

Policy and Advocacy

Green Space Index

Parks Protector Pledgers

Campaigns

PROTECTING OUR PARKS AND GREEN SPACES

SUPPORTING OUR PARKS AND GREEN SPACES

ACKNOWLEDGEMENTS & THANKS

• The Sir Arthur Cutforth Fund

LOOKING TO THE FUTURE

FINANCIAL REVIEW

Reserves Policy

Funding Sources

Voluntary Income

Income from Charitable Activities

How the Funding was Spent

Restricted Reserves

Permanent Endowment Funds

Free and Designated Reserves

Investment Policy and Performance

Fundraising Approach

1) Respect

2) Fairness

3) Responsive

4) Accountable

STRUCTURE, GOVERNANCE AND MANAGEMENT

Council of Trustees

Risk Management

Management and Staffing

Remuneration Policy

Professional Services

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Auditor

Opinion

Basis for opinion

Conclusions relating to going

concern

Other Information

Opinions on other matters prescribed by the Companies Act

2006

Matters on which we are re-

quired to report by exception

Responsibilities of trustees

Auditor’s responsibilities for the audit of the financial state-

ments

Capability of the audit in detecting irregularities

Use of our report

Fields in Trust

Consolidated Statement of Financial Activities

Balance sheets

As at 31 December 2022