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2025-12-31-accounts

s IN YEARS OF PROTECTING OUR PARKS. YE 2025"

Patron

HRH The Prince of Wales KG KT

President

Incorporated by Royal Charter Registered Charity No: 306070 Registered Company No: RC000370 OSCR No: SC040357

Jill Scott MBE

Vice Presidents

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

Fields in Trust Unit 504 Clerkenwell Workshops 27-31 Clerkenwell Close London, EC1R 0AT

Chair of Trustees

Jo Barnett

Trustees

Carlotta Newbury Caroline Atkinson Clive Betts MP Duncan Peake Ewan Gillies Ian Ginbey Jeremy Hammond (Treasurer) Mark Campion

Chief Executive Helen Griffiths

fieldsintrust.org

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4 Chair Statement

33 Operational Infrastructure

About Us Public Benefit Structure, Governance and Management Our Vision Our Mission Our Values

11 Our Centenary New President Centenary Pledge

18 Our Strategy

Call to Arms: Protecting Our Playing Fields and Green Spaces 2025 Green Space Index 226 Green Spaces Lost Since Covid-19 Pandemic

24 Stewarding and Enabling

Stewarding and Enabling Our Spaces Setting the Standard – Influencing the Creation of Green Space

38 Our Future Plans

40 Financial Review

Total Income and Expenditure Funding Sources Voluntary Income Charitable Activities How the Funding was Spent Reserves Policy Investment Policy and Performance Management and Staffing Remuneration Policy Risk Management

47 Independent Auditor’s Report

26 Our Impact

2025 Headlines - Our Work in Numbers Impact Case Studies 2025 Protected Spaces

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Chair Statement

2025 has been a transformational year for Fields in Trust. After reviewing our strategy, funding model and operating practices in 2024 the last 12 months have seen the charity adopt and implement its new strategy with confidence and urgency. Taking the approach of enhanced collaboration, more vocal challenging of the status quo and greater outreach amongst potential supporters and funders has resulted in us ending 2025 in a significantly stronger position and better placed to address the challenges we face in protecting the green space in our communities.

The need to act now has never been more apparent and with the support of our Patron HRH The Prince of Wales, and new President Jill Scott MBE, as well as new and old funders plus corporate, charity and sporting partners, last year saw us deliver a significant uplift in our activity to drive awareness for our cause, use our voice to influence parks and playing fields provision, improve the financial sustainability of the organisation and provide tools to protect current green spaces and create new ones throughout the country. The Trustees are pleased with the progress made throughout 2025 and the momentum that has been taken into our work in 2026. We are especially grateful for the hard work of the team and those that have supported us.

Our centenary year has acted as a catalyst to drive positive change within the organisation and within our networks. This landmark moment, combined with the energy of our President, saw us celebrate the 3,000 sites protected by FIT, directly benefitting over 9 million people, and deliver a number of important key initiatives. These included our Barbican centenary event and Centenary Pledge plus our open letter backed by sports stars and sporting organisations to lobby for greater protection of our sports sites that are increasingly vulnerable in the face of planning reform.

In addition to driving increased awareness for the organisation, our centenary year saw us put the charity onto a better financial footing with a positive financial outturn for the first time in several years and a related increase in reserves. Voluntary income doubled year on year, boosted by the in-year sale of the office as we moved to new, more suitable premises to accommodate our growing team.

Whilst we know that progress has been made, we are aware that more needs to be done to secure our long-term financial position. Our focus remains on driving up awareness of the impact of our work and appealing to a wider portfolio of funders so that our sustainable income streams can continue to be developed through the new products and services set out in our 5 year plan. We will also seek to continue Fields in Trust’s growth trajectory through a longer-term endowment fund to support the long-term nature of our work.

We would like to thank our President and our Patron for their support. Through their various activities during 2025, they have increased our profile and helped to create engagement and new conversations for the charity. It is heartening to see how much groundswell support the charity’s work has received in 2025 as it has become increasingly apparent that unprotected green spaces continue to be at risk despite the health, wellbeing, community and environmental benefits they bring. Our message that these sites belong to all of us and that ‘once lost they are lost forever’ is as relevant today as it was when the charity was founded in 1925.

The Fields in Trust Trustees are excited by the progress made this year and look forward to building on this, with your support and that of our talented and passionate team, throughout 2026.

Jo Barnett Chair of Trustees

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Introduction

It has been a privilege to lead the organisation through this truly landmark moment as we celebrated our centenary – a milestone that few charities reach and one that we are incredibly proud of. One hundred years of impact in communities up and down the country which, because of the nature of our work, will continue to be felt for generations to come.

Reaching this milestone has provided a valuable opportunity not only to reflect on the remarkable achievements of the past century, but also to look ahead with renewed purpose and ambition.

During the year we were proud to launch our new organisational strategy. Developed with input from colleagues, partners and other stakeholders it sets out a clear vision for the years ahead and is aligned with a fully costed 5 year plan. It refreshes our mission and vision and contextualises the relevance and urgency of our work in the current external environment. Our new strategy builds on our longstanding core principles but with a bolder approach and greater scale of ambition.

2025 created many opportunities to connect with new partners and stakeholders. We have expanded our network and developed new relationships with organisations and individuals who share our commitment to creating lasting change.

None of this progress would have been possible without the commitment, generosity and belief of our donors, partners, Trustees and team. I would like to thank everyone who has contributed so much to our work during this special year.

As we begin our second century, we do so with pride in our history, confidence in our direction, and determination to achieve even more in the years ahead.

Helen Griffiths Chief Executive Helen Griffiths

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About Us

Back in 1925 a group of philanthropic families, companies and organisations had the foresight to recognise the need to protect playing fields, playgrounds and green spaces against the backdrop of rapid construction. They were concerned that the absence of statutory protection of these spaces and the pace of development of towns and cities in the UK meant that the least fortunate in our communities would be left with no places to play.

Led by The Duke of Sutherland a visionary purpose was set out; to ensure every community had access to parks, playing fields, and green spaces and our founders created the National Playing Fields Association, what we know today as Fields in Trust. A charity with the unique ability to protect our green spaces, legally, forever. It’s an extraordinary gift, and it safeguards the spaces for as long as we are in existence.

Today we are a proud Royal Charter charity operating throughout the UK to protect the future of parks, playgrounds, playing fields and green spaces. We act as long-term stewards of the spaces protected, using the UK’s only proven legal model and shape the future of green spaces through our approved standards and data tools, advocating for and influencing the creation of quality new spaces.

We believe everyone deserves a safe, high-quality green space within a short walk from home, regardless of income, background or postcode and our work is as compelling today as it was 100 years ago.

Public Benefit

In setting our objectives and planning our activities, the Trustees give careful consideration to the Charity Commission’s advice on public benefit.

Our work benefits everyone: the parks, playgrounds, playing fields and green spaces we protect are free at the point of access and provide opportunities to all members of the community.

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. In 2019 Privy Council approved an amendment to the Royal Charter to change the organisation’s name.

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 14 Trustees who serve a three-year term and are then eligible to stand for re-election. The Council of Trustees meets at least four times a year and appoints appropriate committees to oversee the charity’s activities.

There are currently five committees:

During 2025 we were fortunate to have the additional support of a Centenary Appeal Board formed to focus on the opportunities presented by the anniversary and to increase the existing networks of the charity.

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Our Vision A future where parks, playgrounds, playing fields and green spaces are free to access, safe to use and fit for purpose for everyone, forever.

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Our Mission

To make this a reality our mission is to foster a national culture that recognises the value of our parks, playgrounds, playing fields and green spaces to society and drives the change needed to protect their future.

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Our Values

Our values inform and shape all that we do and remain true to our founding principles. We cannot deliver our mission alone and need to pioneer new ways to address the ongoing challenges first identified by our founders.

Partnerships: We build relationships to increase our impact with those that share our vision.

Innovation: We challenge old assumptions and develop new tools to protect what matters.

Equity: We believe in equal access for everyone.

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. ILII 5 1 YEARS OF PROTECTING OUR PARKS.

Centenary: 100 Years of Protecting Playing Fields

New President

As part of our centenary year, we were delighted to welcome the inspirational Jill Scott MBE onboard as our new President. Jill took over the role of President from HRH The Prince of Wales, who became our Patron in 2024, succeeding Her Majesty the late Queen Elizabeth II and said, on her appointment, “I have big shoes to fill and can’t wait to get started!”

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Jill Scott MBE
President
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A long-time advocate for sport’s power to change lives, Jill reflected on her own journey and the vital role her local playing field in Sunderland played in sparking her love of sport when she was growing up. From grassroots pitches to becoming one of the nation’s most loved sports personalities, her story shows the transformative power of accessible green spaces for young people.

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I’m honoured to become President of Fields in Trust at such a pivotal time. My journey began on local pitches in Sunderland, and it was those community spaces that really enabled everything that followed. Without Roker Park on my doorstep, I wouldn’t have become an England footballer. But more than that, I’ve seen how sport and green spaces build confidence, friendships, and help young people discover what they’re capable of.

I’m concerned that so many of these spaces have been lost already. As President of Fields in Trust, I urge everyone to support and protect their local parks – to enjoy them, fight for them, and never take them for granted. Access to parks and green spaces should be seen as a right, not a privilege.

During her Presidency Jill will act as a champion for these spaces using her voice to amplify the charity’s work widely with everyone from policymakers to opinion formers to the public to help inspire a wider awareness of our mission. She is ambitious about the scale of change that can be achieved and will be focussed on increasing the number of people who have a protected green space a short walk from home.

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Centenary Pledge

A century on from when the charity was founded to protect parks, playgrounds, playing fields and green spaces the need for our work remains as urgent as ever. Housing targets and budget cuts are putting more pressure on these vulnerable spaces despite their measurable impact to health, wellbeing and the environment.

When Fields in Trust was founded there was a groundswell of public support from a breadth of organisations representing sport, play, children, health and education who all recognised that action was needed. To mark our centenary and align with the intentions set out in our new strategy we reached out to individuals, institutions, and influencers to recreate that groundswell of support by signing our Centenary Pledge to;

The Pledge will act as a tool to drive our work forward in collaboration with partners who share our commitment to making sure people will always have access to these spaces.

Almost 50 signatories have joined the Centenary Pledge so far, representing a wide array of organisations from all corners of the UK and from a range of sporting bodies, play organisations, planning associations, and organisations in the design and architectural space, as well as sports stars and Members of Parliament.

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•iaii s I YEARS OF PROTECTING OUR PARKS. 15

Tony Juniper CBE Centenary Ambassador Tony Juniper

Many representatives from these organisations joined us at our centenary celebration event at the Barbican alongside our Vice President Gyles Brandreth and our Centenary Ambassador and world-renowned environmentalist Tony Juniper CBE.

Green spaces are like the unsung heroes of public health. They provide us with a place to exercise, to play, and to connect with one another. They help us breathe a little easier, both literally and metaphorically. When we step into a park, we step away from the hustle and bustle of daily life. We find a moment of peace, a chance to recharge, and an opportunity to reconnect with nature. In a world where many of us feel increasingly isolated, these spaces can be a remedy for our disconnection.

Fields in Trust has been a champion for protecting these precious places for nearly a century. I am thrilled to lend my voice and support to their mission. Their work to safeguard parks, playing fields, and green spaces resonates deeply with me.

By preserving these areas, we are not just protecting land; we are ensuring that future generations have the same opportunities to experience the joy and benefits of nature that I did as a child.

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HRH The Prince of Wales Patron

As Fields in Trust marks 100 years of protecting green spaces for the wellbeing of the people of tomorrow, I am delighted to see their continued work helping us all recognise how much these green spaces matter to the future of our villages, towns, and cities. They are essential to daily life, they are at the heart of our communities, boost wellbeing, reduce loneliness and help fight climate change. Despite the significant importance of these spaces, they are often undervalued and under threat. By supporting Fields in Trust’s brilliant work, we can help ensure there are green spaces for future generations.

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New 5 Year Strategy

Access to Green Space is a Right Not a Privilege

Celebrating our centenary provided us with the opportunity to reflect on our achievements but more importantly to consider our ongoing relevance and resonance.

In 2025 we published an ambitious new 5 year strategy with a renewed sense of purpose and a transition from quiet stewardship to bold, visible leadership. The next five years will see us scaling our ambition, growing our voice, and strengthening our capacity to act.

Our strategy is focussed on our twin goals;

Fight for the protection and long-term future of all existing parks, playgrounds, playing fields and green spaces.

At least 1 million more people within a 10-minute walk of a protected park, playground, playing field or green space by 2030.

Influence the creation of 20k hectares of new green space needed for 1.5 million new homes by 2030.

New green space the equivalent of 20 Richmond Parks created by 2030.

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To deliver this strategy, we will focus on six key workstreams, phased over the five-year period as funding is secured to activate new areas of activity.

LEAD: Lead and animate a national conversation on parks, playgrounds, playing fields and green spaces as essential infrastructure to a happier, healthier and greener future

INFLUENCE: Influence government and policymakers to drive the change needed to secure a protected and sustainable future for parks, playing fields, playgrounds, and green spaces

PROTECT: Increase the number of parks, playgrounds, playing fields and green spaces legally protected forever and work with landowners to ensure the effective long-term stewardship of the 3,000 spaces already protected

ACCREDIT: Work directly with developers, planners, and house builders to ensure the FIT Standards are met and implemented making sure the best outcomes are achieved for communities

PARTNER: Work in partnership with Local Planning Authorities to shape local decision-making and secure their endorsement and use of the FIT Standards

RESEARCH: Lead on understanding the challenges and identify opportunities for parks, playgrounds, playing fields and green spaces to thrive, providing evidence-based insights and the Green Space Index

Underpinning all this activity is our commitment to;

SUSTAIN: Be a high-performing, financially sustainable organisation committed to excellent governance and a positive and inclusive culture

From 2026 we will demonstrate how funds were spent against our two new strategic goals.

We aim to raise £8 million over the next five years to support delivery of our strategic priorities. In parallel, we are seeking to establish a £15 million endowment to enable us to scale our impact and ensure the long-term stewardship of our protected spaces.

Our income generation strategy will prioritise building and deepening relationships with key stakeholders, including major donors, partners, and supporters, and continuing to diversify our income streams. A strong and consistent case for support, clearly communicating both the urgency of our work and the long-term benefits will be central to our approach to cultivate and engage our funders and convey the importance of their support to achieve our ambitions. As a charity that does not receive any statutory grants, fundraising is critical to our survival and our ability to steward the legacy we have already created. Our new strategy also prioritises leveraging the expertise and assets of the charity as we translate these into commercial products and services that both support the pursuit of our charitable objectives and generate new income.

Alongside this, Trustees will focus time and resource on a strategic plan to grow our reserves, strengthening financial resilience and supporting the sustainable delivery of our mission over the long term.

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4""Y4.￿. 20

Call to Arms

Protecting Our Playing Fields and Green Spaces 2025 Green Space Index

Against the backdrop of proposed planning reforms, we focussed the 2025 Green Space Index on access to playing fields. The results found that 45% of people in Britain live more than a 10-minute walk from their nearest playing field and that green space provision varied significantly between regions.

Worryingly, when mapped against the Government’s Index of Multiple Deprivation (IMD), the data showed that the more deprived an area is, the more likely it is to have lost a site, pitch, or parkland in recent years, either through closure or redevelopment. Tackling this inequality must be prioritised in green infrastructure and planning policies moving forward by embedding and enforcing clear benchmarks such as the Fields in Trust Standards to ensure the correct quantum is provided and that these spaces are properly protected for the long term.

The findings came as the Government considers removing Sport England from its statutory consultee role in planning decisions under the Planning and Infrastructure Bill, further weakening existing protection of playing fields – see page 22.

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45%
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45% of people do not live within a 10-minute walk of a playing field

1 in 8

Only 1 in 8 councils have good playing field accessibility

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226 Green Spaces Lost Since Covid-19 Pandemic

In December our President Jill Scott MBE led an open letter signed by 87 other organisations and sports stars calling on the Government to reconsider these proposals. Signatories included Sir Mo Farah CBE, Ed Clancy OBE, Tessa Sanderson CBE, Ama Agbeze MBE and Alex Yee.

The letter was also backed by leading sporting organisations including Active Partnerships, The England and Wales Cricket Board, The FA, Groundwork, London Marathon Group, The LTA, Parkrun, The RFU, The Rugby Football League, The Sport and Recreation Alliance, SportsAid, StreetGames, UK Athletics, Women in Sport and The Youth Sport Trust.

The letter called on policymakers to retain a meaningful mechanism to protect playing fields and sports facilities for future generations by maintaining Sport England’s statutory consultee status and highlighting Fields in Trust’s independent protection of parks, playgrounds, playing fields and green spaces.

This advocacy demonstrates Fields in Trust’s singular position as the only organisation with a mandate to protect the future of these spaces and emphasises our renewed focus and bolder stance on raising awareness of these key issues. To continue to deliver this vital work we need to raise funds to support our expert team to increase the scale of this activity.

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Stewarding and Enabling Our Spaces We know that to maximise their benefit to the public, parks and green spaces need to evolve over time to meet the needs of the local community. Over the past 12 months we have worked closely with stakeholders to ensure timely decisions and deliver positive, practical outcomes on changes to the spaces we protect.

The team dealt with an increased caseload involving a range of transactions and agreements, completing 86 applications in total and managing a pipeline of active cases. To improve responsiveness and better meet demand, we introduced a fast-track service , allowing urgent matters to be prioritised. The team provides high-quality support and oversight in all cases, and the fee tariff enables the charity to charge appropriately for the service provided which is key to the long-term protection of our 3,000 spaces.

Setting the Standard – Influencing the Creation of Green Space

The Fields in Trust Standards are a critical tool to influence how new green space is created in new developments and communities. The Standards were revised in 2024 as the key foundation to our new strategy and the focus on ensuring that new housing is delivered in tandem with the right quantum and quality of multi-functional green space.

The FIT Standards are used daily by practitioners across the built environment sector and referenced or adopted by Local Planning Authorities. In 2025 we continued to promote these Standards to end users and to test products that would enable better implementation of these Standards in local housing schemes, to get the best outcome for communities.

We expect to pilot the first of these products in 2026 as part of a strategic growth plan to generate sustainable commercial income by leveraging the key assets and expertise of the charity.

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2025 Headlines

Our Work in Numbers

19 New spaces protected

9 million Total population within a 10-minute walk of a protected space

Total spaces 3,000 protected

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10min
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195,000

Additional population within a 10-minute walk of a protected space

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Impact Case Studies

Protecting Bitton Recreation Ground, South Gloucestershire

A popular park for both sport and recreation, Bitton Recreation Ground (BRG) was bequeathed to the local community of Bitton, near Bristol, by landowners in 1920.

Today, the ground is home to Bitton Association Football Club, and its sports pitches are a popular location for both adult and juniors’ football and cricket. All sports are welcome at BRG, and the site has a multi-use games area, along with a pavilion and changing facilities.

BRG is also a place for people to come together and socialise, with a wheelchair-accessible Sports and Social Club House, a licensed bar and function rooms which host social events throughout the year.

Having been a crucial place for locals to come together, exercise, relax and play for over 100 years, BRG became officially protected in April 2025 to ensure it will always be enjoyed by the local community.

Trustees are committed to ensuring that the land is protected in perpetuity for its intended purpose (like sports and recreation) and for the benefits of the community.

Paul Cooney, BRG Chair of Trustees

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Protecting Butcher’s Field, East Sussex

Another new protection completed in 2025 is Butcher’s Field in Westham, East Sussex. Close to the high street and standing in the shadow of historic Pevensey Castle, this meadow is a popular relaxation and walking spot for both locals and tourists.

It was purchased by Westham Parish Council in 2002 to commemorate the Queen’s Jubilee and, as of September 2025, is legally protected for the local community to enjoy forever.

Across our local area, green spaces are under increasing pressure as demand for new housing and infrastructure grows. The last thing the Parish Council wanted was to lose this field to either development or other purposes. Green spaces are essential to everyday life in every community. They provide places for children to play, for people of all ages to be active, and for communities to come together. They also support biodiversity, help improve air quality, and offer vital breathing space in increasingly built-up environments.

Susan Sanders, Parish Clerk at Westham Parish Council

The Council now protects all three of its green spaces with Fields in Trust.

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Impact Case Studies

Holt Playing Fields

We’ve supported two exciting new projects at Holt Playing Fields that will make a real difference to the local community. A new sublease has been agreed with Holt Owl Skate Park Organisation to create a purpose-built skate park, giving young people a safe, fun space to be active and socialise.

We’ve also approved a sublease for Holt Padel Tennis Limited to build two padel tennis courts. This is a great addition for residents, especially as there are currently no public tennis or racket sport facilities in Holt. Together, these developments will open up more opportunities for people of all ages to get involved in sport and recreation.

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Sidley Recreation Ground

At Sidley Recreation Ground, we’ve agreed a new lease with Heart of Sidley to bring forward much-needed improvements to the site. The plans include replacing the existing changing rooms with a modern, fully accessible building that meets the latest standards set by Sport England and the Football Foundation.

As well as high-quality changing facilities, the new building will feature a café and flexible space for organising activities and events. This will create a welcoming hub for the community, helping to bring people together and encourage more participation in local sport.

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2025 Protected Spaces

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323
84
31
283
162
243
254
355
300
170
440
362
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•m-Yiiiilli.A .y* -EARS. UR4 RKS. '33.

Operational Infrastructure

2025 marked a pivotal year of transition, strengthening our organisational foundations and positioning us for the next phase of delivery. The introduction of a two-Directorate structure has enhanced clarity, accountability and collaboration, enabling teams to work more effectively towards the shared priorities set out in our strategy.

Our multi-year business plan sets out a clear pathway for growth, alongside targeted investment in the systems and processes required to support an evolving organisation. This includes a focus on improving how we connect and engage with a wide range of stakeholders, from landowners and elected officials to donors, partners, developers and planners.

Our team is lean and we’re proud of our ability to punch above our weight and deliver across multiple areas through the dedication of our committed people. Gaps in the team in 2025 resulted in further stretched capacity and in 2026 we plan to grow the team to enable us to increase our activity across both goals, with a particular focus on our work with Local Planning Authorities, developers and elected officials.

In 2025 we worked closely with specialist partners in philanthropy, communications, public relations and planning to bring additional skills and expertise into the team to help deliver our work.

We’ve identified digital transformation programmes to integrate our systems and increase automations where possible and seek funding to invest in this fast-moving space to ensure the charity keeps pace with change and embraces the possibilities and efficiencies that exist.

Together, these developments will ensure that our operational infrastructure is fit for purpose and able to underpin our ambitions in the years ahead.

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*4 s IN YEA OF PROTECTING OUR P

Funders and Partnerships

We’d like to say a big thank you to all our members, partners, donors and funders who make our work possible. Without your support we simply cannot do what we do.

Partnerships

We continued to work with Octopus Foundation as an environmental charity partner and along with an annual unrestricted grant received significant support in delivering activity from several teams across the business.

The ethos of Octopus is to provide support when and where it is needed, if possible, to their charity partners. This has included making resources available to help create branded materials for our centenary, production of our brand film and extending their training, development and mentoring programmes to our staff.

Octopus staff took part in volunteering days on our protected spaces made possible by our delivery partner IdVerde.

And a group of staff ran the Royal Parks Half Marathon raising over £3,000.

It’s hugely satisfying to be outdoors for the day. I think we all take parks for granted despite how important they are, so it’s great to see how much work goes into maintaining them and to play a part in that.

Kristy, Octopus Group

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Thank you also to our other partners who have continued to support us in 2025:

ROYAL CHARITY POLO CUP

Trusts and Foundations

We were delighted that many trusts and foundations continued to support us, some increasing their donations as we celebrated our centenary year. We were also very grateful to create relationships with several new trusts and foundations who have generously supported our work in 2025. Building these new relationships demonstrates that our new strategy and approach is being positively received and inspiring new funders to support our clear ambitions.

Betty Wold Johnson Foundation Blenheim Palace Foundation Cecil Pilkington Charitable Trust Cruden Foundation Limited D G Albright Charitable Trust Davis-Rubens Charitable Trust Edinburgh Trust No.2 Account Gilbert and Eileen Edgar Foundation Graham Kirkham Foundation James Wise Charitable Trust John Armitage Charitable Trust Lord Leverhulme’s Charitable Trust

Marsh Charitable Trust

Peter Dubens Family Foundation Ronald Miller Foundation Sandra Charitable Trust Sir John Eastwood Foundation Spirax-Sarco Charitable Trust The Armstrong Family Trust The Christopher Laing Foundation The General Charity Fund The J R Asprey Family Charitable Foundation The John Cowan Foundation

The Lennox Hannay Charitable Trust The Linder Foundation The Mackintosh Foundation The Mushroom Trust The Orrin Charitable Trust The Peacock Charitable Trust The Privy Purse Charitable Trust The Rothermere Foundation The Schuster Charitable Trust The Simon Gibson Charitable Trust The Weinstock Fund Wimbledon Foundation

Fields in Trust is registered with the UK Fundraising Regulator, and we fully abide by their code of best practice. We did not receive any fundraising complaints in 2025. During 2025 we implemented a new CRM system to help us manage the ongoing stewardship of our donors and to help process donations and gift aid in the UK.

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Future Plans

As we look ahead, our focus is firmly on building a stronger, more sustainable future that expands our impact for generations to come. We will increase our awareness and campaigning activity, with our President Jill Scott leading the charge as an advocate for children’s access to safe, inclusive places to play. Alongside this, we will continue to strengthen our protection work by growing our pipeline and increasing the number of sites safeguarded for community use.

A key priority will be developing new products and partnerships that allow us to better utilise and monetise the charity’s assets, creating reliable and sustainable income streams. To support this ambition, we will grow and develop our team, enhancing skills and capacity across the organisation, while also improving our impact reporting to clearly demonstrate the difference our work makes.

Delivering this next phase of our strategy will require us to raise £8 million, alongside a longer-term ambition to grow our reserves and establish a £15 million endowment fund. As we close our centenary activity, we do so with a clear sense of purpose and momentum – ready to build on our legacy and create even greater opportunities for children and communities in the years ahead.

We will deepen our engagement with strategic funders to secure longer-term investment and maximise impact. At the same time, we will invest in systems improvements and integrations to ensure we are efficient, connected and ready to scale.

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Financial Review

Overall financial performance in 2025 was a positive step in the right direction as the charity delivered a small operating surplus for the first time in several years. This surplus was further supplemented by the in-year office sale. The performance marks a significant milestone following the comprehensive review undertaken in 2024 and the disciplined implementation of a turnaround plan.

Trustees are reassured from the clear strategic direction now in place, which is supporting improved income generation and fundraising alongside careful cost management in a challenging economic environment. Early progress under the first year of the strategy indicates that these measures are beginning to take effect.

Maintaining this positive momentum will be critical to strengthening long-term financial resilience and sustainability. While there remains more to do, the initial results provide confidence that the organisation is on a more stable path towards sustainability.

Total Income and Expenditure

The charity was pleased to see continued improved year-on-year performance. In 2025 income was £1.79m (2024: £0.76m) – including the property sale – and expenditure was £1.35m (2024: £1.33m).

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£1.79m
£1.33m £1.35m
£1.26m
£0.76m
£0.53m
2023 2024 2025
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Income Expenditure
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Expenditure in 2025 includes £0.13m of donated services. In 2024, expenditure included costs for the completion of the strategic review, with no similar costs incurred in 2025.

Trustees set a clear objective for 2025 to deliver an operating surplus after several years of drawing on reserves. This was successfully achieved, with a business-as-usual surplus of £0.4m in 2025 (including £0.35m of proceeds from the property sale), following a deficit of £0.56m in 2024.

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Funding Sources

Income

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1,800
1,600
1,400
1,200
1,000
800
600
400
200
0
2024 2025
£000
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Trust & Foundations Major Donors Corporate Partners Charitable Activities Other Income Donated Services Property Sale

Voluntary Income

Voluntary income, comprising income from Trusts and Foundations, Major Donors, Corporate Partners and Donated Services, more than doubled in year from £0.43m in 2024 to £1.15m in 2025, demonstrating the success of efforts to strengthen and diversify our fundraising base.

This was largely driven by success with major donors, reflecting our growing focus on philanthropic giving, leveraging the centenary as a platform for meaningful engagement. We also saw a positive outcome from the same focus with trusts and foundations. Looking forward, we will be further developing these networks and ensuring the ongoing cultivation of relationships to enable us to continue to increase these income streams in line with our plan.

42

Charitable Activities

Income from charitable activities remained stable year on year and is derived from consultancy and advisory work.

This income remains a vital component of the charity’s mixed funding model, as outlined in our five-year business plan, and represents an area of planned strategic growth. As part of our new strategy, we are developing new marketable products and services that draw on our insight, expertise, and data - aimed at building sustainable, long-term income streams to further our charitable mission.

At present, we continue to enter each financial year with a relatively low level of committed income, which constrains forward planning and limits our ability to deliver our programme of work with confidence. Strengthening the security and duration of our funding will be essential to enable more effective planning and sustained delivery in our new strategy.

Overall income performance in 2025 was significantly stronger than in recent years. However, there remains a clear need to transition towards multi-year funding agreements and longer-term partnerships to provide a more stable and predictable income base.

How the Funding was Spent

Total expenditure in 2025 was £1.35m (2024: £1.33m). During 2025, £1.14m (2024: £1.16m) was spent on our charitable activities enabling Fields in Trust to deliver impact in communities that will last for generations. This was broken down into;

Protect Parks and Green Spaces £0.46m (2024: £0.51m) Support Parks and Green Spaces £0.10m (2024: £0.02m) Champion Parks and Green Spaces £0.58m (2024: £0.63m)

Charitable activities included overhead costs of £0.50m (2024: £0.58m) and Governance costs of £0.01m (2024: £0.05m). The cost of raising funds in year was £0.20m (2024: £0.17m), equivalent to 15% of income (excluding the property sale) (2024: 25%).

43

Reserves Policy

The Trustees review the charity’s anticipated income and expenditure actuals against budget on a regular basis.

In 2024, Trustees identified the need to reduce reliance on reserves and set a clear objective of returning to a surplus position in 2025. This objective has remained a central focus, reflecting the importance of strengthening the organisation’s financial sustainability. The Trustees are pleased to report that the reserves balance increased in 2025 to £2.10m from £1.67m in 2024.

Reserves

----- Start of picture text -----
Free Restricted
reserves reserves
£0.74m £0.18m
Designated Designated
reserves - reserve -
Fixed Assets Fields Legacy
----- End of picture text -----

Further details on the reserves balance are set out in Note 21a.

The free reserves represent those unrestricted funds not invested in tangible fixed assets or otherwise committed. Trustees consider it prudent to retain these reserves at a level representing around six months forward expenditure and wind up or transfer costs. Six months forward expenditure is currently budgeted at £0.74m.

The Fields Legacy Fund of £1.18m has been designated to ensure the charity is able to steward the long-term protection of the portfolio of spaces it protects in perpetuity. The Trustees are mindful of the need to safeguard the existing legacy in addition to supporting the delivery of the new 5 year strategic plan. The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern given the level of reserves held and following a positive financial performance in 2025 which gives a strong foundation for 2026.

The Group holds a sufficient level of investments in liquidity funds to meet all known liabilities for the foreseeable future and provide for:

Alongside this, there is a clear ambition to increase reserves in a planned and structured way, enabling the organisation to scale its impact in line with the new 5 year strategy.

A key element of this approach is a strategic plan to grow the investment portfolio, supported by the creation of a £15 million endowment fund. This will provide a more secure financial foundation, ensuring both the ongoing stewardship of protected spaces for generations to come and the capacity to expand the charity’s reach over time.

44

Investment Policy and Performance

In accordance with the charity’s Royal Charter the Trustees have the power to invest as they deem appropriate.

During 2025 the Finance Audit and Risk Committee undertook a review of investment managers and elected to move the management of the portfolio (£1.55m) to Sarasin and Partners.

Following advice from Sarasin and Partners the Committee updated the investment performance benchmark to CPI+4%. The performance of the investment portfolio is reviewed by the Finance, Audit and Risk Committee and regular guidance is provided by the expert team at Sarasin and Partners.

Management and Staffing

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

Risk Management

The Trustees have a risk management strategy which comprises:

This has identified that future funding and the prevailing financial climate are the major risks to the future sustainability of the organisation.

A key element in the management of this financial risk has been the implementation of a strategy to:

The Chief Executive is supported by the Senior Leadership Team.

Remuneration Policy

The pay of all staff is reviewed annually by Trustees.

In 2025, a 2.3% uplift in salary was approved in line with CPI. The Chief Executive elected not to receive a salary increase in year.

45

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 & 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:

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) 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 23 April 2026 and signed on its behalf by

Jo Barnett Chair of Trustees

46

Independent Auditor’s Report

Opinion

We have audited the financial statements of Fields in Trust (the ‘parent charity’) for the year ended 31 December 2025 which comprise the consolidated statement of financial activities, the group and parent charity 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:

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 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.

47

Matters on Which We Are Required to Report by Exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of Trustees

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

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

Auditor’s Responsibilities for the Audit of the Financial Statements

We have been appointed as auditor under section 144/145 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under that Act.

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 noncompliance 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:

48

Use of Our Report

This report is made solely to the parent charity’s Trustees as a body, in accordance with section 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005, section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the parent charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

23 April 2026

Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

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

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.

49

Fields in Trust

Consolidated Statement of Financial Activities

For the year ended 31 December 2025

For theyear ended 31 December 2025
Note
Income from:
3
4
5
6
21
Reconciliation of funds
Profit on Sale of Fixed Asset
Donations and legacies
Charitable activities
Investments
Total income
Expenditure on:
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 income / (expenditure) before net
(losses) / gains on investments
Other Income
Net income / (expenditure) for the year
Net (losses) / gains on investments
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward		 General
fund
Designated
Funds
£'000
£'000
1,117
-
190
-
42
69
-
345
Unrestricted Funds
Income
Funds
Permanent
Endowments
£'000
£'000
30
-
-
-
-
-
-
-
Restricted Funds
2025
Total
£'000
1,147
190
111
345
2024
Total
£'000
500
181
83
-
1,349 414 30 - 1,793 764
205
453
93
571		 -
-
-
-		 3
6
4
10		 -
-
-
-		 208
459
97
581		 169
446
96
618
1,322 - 23 - 1,345 1,328
2
27		 (21)
414		 -
7		 -
-		 (19)
448		 31
(564)
29
190		 393
(190)		 7
-		 -
-		 429
-		 (533)
-
219
522		 203
980		 7
82		 -
86		 429
1,670		 (533)
2,203
741 1,183 89 86 2,099 1,670

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 21 to the financial statements.

50

Fields in Trust

Balance sheets

As at 31 December 2025

As at 31 December 2025
Note
13
14
17
18
20
Income Funds
Permanent Endowment Funds
Designated funds
General funds
21
Current asset investments
Total unrestricted funds
Net current assets
Total assets less current liabilities
Total net assets
Liabilities
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		 2025
2024
£'000
£'000
11
462
219
236
230
698
46
103
1,528
931
806
341
2,380
1,375
511
403
1,869
972
2,099
1,670
2,099
1,670
89
82
86
86
175
168
1,183
980
741
522
1,924
1,502
2,099
1,670
The group		 2025
2024
£'000
£'000
11
462
39
38
50
500
67
152
1,528
931
806
341
2,401
1,424
594
447
1,807
978
1,857
1,477
1,857
1,477
89
82
86
46
175
128
941
831
741
518
1,682
1,350
1,857
1,477
The charity
230 698 50 500
46
1,528
806		 103
931
341		 67
1,528
806		 152
931
341
2,380
511
1,869		 1,375
403
972		 2,401
594
1,807		 1,424
447
978
2,099 1,670 1,857 1,477
2,099 1,670 1,857 1,477
89
86		 82
86		 89
86		 82
46
175 168 175 128
1,183
741		 980
522		 941
741		 831
518
1,924 1,502 1,682 1,350
2,099 1,670 1,857 1,477

Approved by the Trustees on 23 April 2026 and signed on their behalf by

Jo Barnett Chair

Jeremy Hammond Treasurer

51

Fields in Trust

Consolidated statement of cash flows

For the year ended 31 December 2025

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

Net income/(expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
Losses/(gains) on investments
Dividends, interest and rent from investments
Decrease in debtors
Increase in creditors
Net cash provided by / (used in) operating activities
Cash at bank and in hand
Total cash and cash equivalents
Cash flows from operating activities
Net cash (used in)/provided by 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
(Increase in)/drawdown of current asset investments
Proceeds from sale of fixed assets
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:
Repayments of borrowing		 £'000
£'000
518
111
-
434
-
(597)
-
-
(52)
-
-
465
341
806
At 1 January
2025
Cash flows
£
£
341
465
2025		 £'000
£'000
518
111
-
434
-
(597)
-
-
(52)
-
-
465
341
806
At 1 January
2025
Cash flows
£
£
341
465
2025		 2025
£'000
429
16
19
(111)
57
108		 2024
£'000
(533)
25
(31)
(83)
38
26
518 (558)
£'000
£'000
(558)
83
(4)
-
992
(351)
-
16
735
-
-
176
165
341
Other non-
cash changes
At 31
December
2025
£
£
-
806
2024
- -
- -
At 1 January
2025
£
341		 Other non-
cash changes
£
-
465 176
341 165
806 341

Cash flows
£
465		 At 31
December
2025
£
806
341 465 - 806

52

Notes to the financial statements

For the year ended 31 December 2025

1 Accounting policies

a) Statutory information

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

The registered office address is 27-31 Clerkenwell Close, London, EC1R OAT.

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:

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

53

Notes to the financial statements

For the year ended 31 December 2025

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:

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 44% (2024 - 44%) ▪ Support Parks and Green Spaces 2% (2024 - 2%) ▪ Champion Parks and Green Spaces 54% (2024 - 54%)

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.

54

Notes to the financial statements

For the year ended 31 December 2025

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 the 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:

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.

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 24.

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.

55

Notes to the financial statements

For the year ended 31 December 2025

2 Detailed comparatives for SOFA (prior year)

Detailed comparatives for SOFA (prior year)
General
fund
Designated
fund
£'000
£'000
453
-
-
-
181
-
82
-
716
-
168
-
Protect Parks and Green Spaces
463
-
Support Parks and Green Spaces
25
-
Champion Parks and Green Spaces
602
-
1,258
-
(542)
-
30
-
(512)
-
260
(260)
(252)
(260)
774
1,240
522
980
Unrestricted
£'000
986
131
1,117
Gifts in Kind included in the above voluntary income are as follows:
Stamp - Film Production
Octopus, HR support along with the provision of meeting rooms
Freshfields Bruckhaus Deringer LLP - Legal Services
Unrestricted Funds
Protect Parks and Green Spaces
Coronavirus Job Retention Scheme grants
Net income / (expenditure)
Donations and legacies
Total funds brought forward
Total funds carried forward
Net movement in funds
Investments
Total income
Reconciliation of funds
Charitable activities
Clyde & Co LLP and Play Scotland (provision of meeting rooms)
Transfers between funds
Income from donations and legacies (current year)
Total expenditure
Expenditure on:
Charitable activities
Raising funds
Net income / (expenditure) before net gains /
(losses) on investments
Net gains/ (losses) on investments
Income from:
Donated services
Gifts		 General
fund
Designated
fund
£'000
£'000
453
-
-
-
181
-
82
-
Unrestricted Funds

Income
funds
Permanent
Endowment
£'000
£'000
47
-
-
-
-
-
-
1
Restricted Funds
2024
Total
£'000
500
-
181
83
716 - 47 1 764
168
463
25
602		 -
-
-
-		 -
43
1
26		 -
-
-
-		 168
506
26
628
1,258 - 70 - 1,328
(542)
30		 -
-		 (23)
-		 1
1		 (564)
31
(512)
260		 -
(260)		 (23)
-		 2
-		 (533)
-
(252)
774		 (260)
1,240		 (23)
105		 2
84		 (533)
2,203
522 980 82 86 1,670
Unrestricted
£'000
986
131		 Restricted
£'000
30
-		 2025
Total
£'000
1,016
131
2024
Total
£'000
499
1
1,117 30 1,147 500
22
19
90
-		 -
-
-
1
131 1

3a Income from donations and legacies (current year)

56

Notes to the financial statements

For the year ended 31 December 2025

3b
Income from donations and legacies (prior year)
4.
5a
5b
Income from investments (current year)
Gifts
Field income and rents
Sub-total for Protect Parks and Green Spaces
Interest on cash deposits and loans
Investment income
Income from investments (prior year)
Investment income
Interest on cash deposits and loans
Technical consultancy
Total income from charitable activities (unrestricted in both years)
Donated services
Income from charitable activities (current year)		 Unrestricted
£'000
452
1		 Restricted
£'000
47
-		 2024
Total
£'000
499
1
453 47 500
Unrestricted
£'000
104
7		 2025
Total
£'000
54
136
2024
Total
£'000
46
135
190 181
190 181
Restricted
£'000
-
-		 2025
Total
£'000
104
7
111 - 111
Unrestricted
£'000
77
5		 Restricted
£'000
1
-		 2024
Total
£'000
78
5
82 1 83

57

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

6a Analysis of expenditure (current year)

Staff costs (note 9 and 10)
Temp/Contract Staff Costs
HR costs
Accommodation costs
Office costs and charges
IT costs
Finance charges
Governance and committee costs
Consultancy and research costs
Travel and subsistence
Communications costs
Event costs
Field costs and charges
Donated Services
Grants expenditure (note 7)
Overheads
Governance Costs
Total expenditure 2025
Total expenditure 2024		 Charitable activitie Charitable activitie s

Governance
Costs
£'000
27
9
-
-
-
-
-
23
-
-
-
-
-
7
-
Raising
funds
£'000
65
21
-
-
-
-
-
-
1
-
72
33
-
16
-
Overheads
£'000
151
48
35
68
46
56
63
-
4
4
21
-
-
37
-		 2025
Total
£'000
539
172
35
68
46
56
63
23
7
4
103
33
64
132
-
2024
Total
£'000
633
192
13
44
9
82
34
22
146
2
73
3
51
1
23
Protect Parks
and Green
Spaces
£'000
86
27
-
-
-
-
-
-
-
-
-
-
64
21
-

Support Parks
and Green
Spaces
£'000
54
17
-
-
-
-
-
-
-
-
-
-
-
13
-

Champion
Parks and
Green Spaces
£'000
156
50
-
-
-
-
-
-
2
-
10
-
-
38
-
198
233
28		 84
12
1		 256
288
36		 65
-
(65)		 208
-
-		 533
(533)
-		 1,345
-
-		 1,328
-
-
459 97 581 - 208 - 1,345 1,328
506 26 628 - 168 - 1,328

6b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff costs (note 9 and 10)
HR costs
Accommodation costs
Office costs and charges
IT costs
Finance charges
Governance and committee costs
Consultancy and research costs
Travel and subsistence
Communications costs
Event costs
Field costs and charges
Donated Services
Grants expenditure (note 7)
Overheads
Governance Costs
Total expenditure 2024		 Charitable activities

Governance
Costs
£'000
32
10
-
-
-
-
-
22
-
-
-
-
-
-
Raising
funds
£'000
76
23
-
-
-
-
-
-
16
-
51
3
-
-
Overheads
£'000
177
54
13
44
9
82
34
-
85
2
15
-
1
23		 2024
Total
£'000
633
192
13
44
9
82
34
22
146
2
73
54
1
23
Protect Parks
and Green
Spaces
£'000
101
31
-
-
-
-
-
-
-
-
-
51
-
-

Support Parks
and Green
Spaces
£'000
63
19
-
-
-
-
-
-
-
-
-
-
-
-

Champion
Parks and
Green Spaces
£'000
184
56
-
-
-
-
-
-
45
-
7
-
-
-
183
236
27		 83
12
1		 292
291
35		 63
-
(63)		 169
-
-		 539
(539)
-		 1,328
-
-
446 96 618 - 169 - 1,328

58

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

7 Grant making

Grant making
Cost
At the end of the year
London Marathon Trust Fund		 Grants to
institutions
£'000
-
2025
£'000
-		 2024
£'000
23
- - 23

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 2024, two grants were made from a fund provided by The London Marathon Trust towards the delivery of protection and activation programmes across the UK.

8 Net expenditure for the year

This is stated after charging / crediting:

This is stated after charging / crediting:
2025 2024
£'000 £'000
Depreciation 16 25
Trustee indemnity insurance 4 6
Trustees' reimbursed travel expenses:
Nil (2024: 1) - 1
Operating lease rentals - 1
Auditor's remuneration (excluding VAT):
Audit 14 14
Other services 5 -

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
Redundancy payment
Staff Insurance		 2025
£'000
452
66
20
-
-
1		 2024
£'000
551
38
30
9
12
2
539 642

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

The following number of employees received employee benefits
during the year between:		 (excluding employer pension costs)
2025 2024
£'000 £'000
£110,001 - £120,000 1 1
£90,001 - £100,000 - -
£70,001 - £80,000 1 1
£60,001 -£70,000 - 1

The key management personnel of the charity in 2024 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 £252,005 (2024: £354,313).

The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2024: £1,210) relating to attendance at meetings of the trustees.

59

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

10 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		 2025
No.
2
4
1
2		 2024
No.
2
5
1
3
9 11

11 Related party transactions

During the year, FIT purchased furniture at a cost of £3,000 from a company whose director is the spouse of the CEO.

Aggregate donations from related parties in 2025 totalled £nil (2024: £nil)

12 Taxation

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

13 Tangible fixed assets

Tangible fixed assets
At the start of the year
At the end of the year
Cost
Depreciation
Net book value
At the start of the year
Additions in year
Disposals in the year
At the end of the year
Charge for the year
At the start of the year
On disposal
At the end of the year		 Long
Leasehold
property
£'000
680
-
(680)

Office/IT
Equipment
£'000
49
-
(37)
Website and
Database
£'000
62
-
-
Office
Furniture
£'000
11
-
(11)
Total
£'000
802
-
(728)
- 12 62 - 74
242
7
(249)		 45
3
(36)		 45
6
-		 8
-
(8)		 340
16
(293)
- 12 51 - 63
- - 11 - 11
438 4 17 3 462

All of the above assets are used for charitable purposes.

60

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

Listed investments
Fair value at the start of the year
Cash held by investment broker pending reinvestment
Shares held in subsidiary
Fair value at the end of the year
UK Common Investment Funds
Investment in UK subsidiary undertakings
Total value of investments
Disposal proceeds
Net gain / (loss) on change in fair value
Investments fund portfolio		 2025
£'000
236
-
(17)
The		 2024
£'000
1,195
(992)
33
group		 2025
2024
£'000
£'000
24
984
-
(992)
1
32
The charity
219 236 25 24
-
-		 -
-		 -
14		 -
14
219 236 39 38
219
-		 236
-		 25
14		 24
14
219 236 39 38

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

The group The charity
2025 2024 2025 2024
£'000 £'000 £'000 £'000
CCLA Investment Management Ltd: Global Equity Income Fund - - - -
M&G Investments: Charibond Charities Fixed Interest CIF 193 - - -
M&G Investments: Equities Investment Fund for Charities - 165 - -

14b 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. In early 2024, the CCLA Investment Ltd Global Equity Income Fund was sold and all the proceeds added to our Short Term liquidity holdings, under Current asset investments (2024 £931k)

61

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

15 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		 2025
£'000
14
-		 2024
£'000
14
-
14 14

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

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

financial activities. The charity is the sole trustee of the subsidiary.
Unrestricted Restricted
Funds Funds
Permanent
General Fund Endowment 2025
£'000 £'000 £'000
Investment income 69 - 69
Total income 69 - 69
Total expenditure - - -
Net income / expenditure before net gains / (losses) on investments 69 - 69
Net (losses) / gains on investments (22) - (22)
Net income / (expenditure) 47 - 47
The aggregate of the assets, liabilities and funds was:
Funds
Liabilities
Assets		 2025
£'000
262
(21)
242

The prior year figures were:

The prior year figures were:
Total income
Total expenditure
Net income / expenditure before net gains / (losses) on
Net (losses) / gains on investments
Net income / (expenditure)
Investment income		 Unrestricted
Funds
General Fund
£'000
12
Restricted
Funds
Permanent
Endowment
£'000
-

2024
£'000
12
12
11
1		 -
-
-		 12
11
1
2 - 2
3 - 3

62

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

Subsidiary undertakings (continued)

Subsidiary undertakings (continued)
Liabilities
Assets
Funds
The aggregate of the assets, liabilities and funds was:		 2024
£'000
244
(49)
195

16 Parent charity

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

2025 2024
£'000 £'000
Gross income 1,724 751
Result for the year 385 (537)
Debtors
Prepayments and accrued income
Losses incurred on behalf of subsidiary (King George's Fields
Foundation)
Taxation and other social security
Trade debtors
Other debtors		 2025
£'000
27
4
15
-
-
The		 2024
£'000
9
13
78
3
-
group		 2025
2024
£'000
£'000
27
9
4
13
15
78
-
3
21
49
The charity
46 103 67 152

18 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Investment held in subsidiary (NPFA Services Ltd)
Income held on behalf of subsidiary (King George's Fields
Foundation)
Income held as Custodian Trustee
Taxation and other social security
a) Amounts falling due within one year
Accruals and deferred income		 2025
£'000
27
33
26
425
-
-
The		 2024
£'000
54
-
76
273
-
-
group		 2025
2024
£'000
£'000
27
54
33
26
76
425
273
14
14
69
30
The charity
511 403 594 447

63

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

19 Financial instruments

Financial instruments
2025 2024
£'000 £'000
Fixed asset investments 219 236
Current asset investments 1,528 931

20a Analysis of group net assets between funds (current year)

Analysis of group net assets between funds (current year)
Net assets at the end of the year
Investments
Net current assets / (liabilities)
Tangible fixed assets		 General
unrestricted
£'000
-
-
741
Designated
funds
Restricted
funds
Total funds
£'000
£'000
£'000
11
-
11
193
25
219
979
150
1,869
741 1,183 175 2,099

20b Analysis of group net assets between funds (prior year)

Analysis of group net assets between funds (prior year) Analysis of group net assets between funds (prior year)
General
unrestricted
£'000
-
112
410
522
Tangible fixed assets
Investments
Net current assets / (liabilities)
Net assets at the end of the year
Designated
funds
£'000
462
-
518
Restricted
funds
£'000
-
124
44
Total
funds
£'000
462
236
972
522 980 168 1,670

64

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

Movements in funds (current year)
Restricted funds:
Total restricted income funds
Total designated funds
General funds
Designated funds:
King George's Fields Foundation
Fields development:
London Marathon Trust
Total funds
The London Marathon Charitable Trust Core Areas
Grant
The London Marathon Charitable Trust National
Grant
Total unrestricted funds
Fixed Assets
County Donations, QEII Challenge
Geographically restricted funds:
Future Proof Parks, National Heritage Lottery Fund
Total restricted funds
Championing and Advocacy
Research & Insight - Data Visualisation toolkit
Other income funds
Centenary Fields restricted funds
Filwood Playing Field, Bristol
Protection of playing fields and play space:
The Linder Foundation
Permanent endowment funds
Kendal Playing Field
Other field endowments
Total permanent endowments
Recreational development:
Inclusion fund (Disabled Play Project)
Unrestricted funds:
Fields Legacy Fund		 At 1 January
2025
£'000
27
-
10
1
-
6
Income &
gains
£'000
-
-
-
-
30
-
Expenditure &
losses
£'000
-
-
-
-
(23)
-
Transfers
£'000
-
-
-
-
-
-		 At 31
December
2025
£'000
27
-
10
1
7
6
44
-
7
15		 30
-
-
-		 (23)
-
-
-		 -
-
-
-		 51
-
7
15
22
16		 -
-
-
-		 -
-		 22
16
16
-
-		 -
-
-		 -
-
-		 -
-
-		 16
-
-
82 30 (23) - 89
44
1
41		 -
-
-
-
-
-		 -
-
-		 44
1
41
86 - - - 86
168 30 (23) - 175
477
503		 69
345		 (21)
-		 647
(837)		 1,172
11
980 414 (21) (190) 1,183
522 1,351 (1,322) 190 741
1,502 1,765 (1,343) - 1,924
1,670 1,794
(1,366)		 - 2,099

65

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

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.

Championing and Advocacy

The Research and Insight Fund is for the development of a Data Visualisation Research toolkit.

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.

66

Fields in Trust

22

Notes to the financial statements

Notes to the financial statements
For the year ended 31 December 2025
Restricted funds:
Total restricted income funds
Total designated funds
General funds
County Donations, QEII Challenge
Future Proof Parks, National Heritage Lottery Fund
Protection of playing fields and play space:
Unrestricted funds:
Designated 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
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
Research & Insight - Data Visualisation toolkit
Fields development:
London Marathon Trust
Total unrestricted funds
Total funds
Geographically restricted funds:
Recreational development:
Inclusion fund (Disabled Play Project)
Championing and Advocacy
21b
Movements in funds (prior year)		 27
-
33
1
6
At 1 January
2024
£'000		 -
-
-
-
-

Income &
gains
£'000		 -
-
(23)
-
-

Expenditure &
losses
£'000		 -
-
-
-
-

Transfers
£'000		 27
-
10
1
6
At 31
December
2024
£'000
67
-
7
15		 -
-
-
-		 (23)
-
-
-		 -
-
-
-		 44
-
7
15
23
16		 -
-		 -
-		 -
-		 22
16
16
-
-		 -
-
47		 -
-
(47)		 -
-
-		 16
-
-
105 47 (70) - 83
42
1
41		 2
-
-		 -
-
-		 -
-
-		 44
1
41
84 2 - - 86
189 49 (70) - 168
757
483		 -
-		 -
-		 (280)
20		 477
503
1,240 - - (260) 980
774 746 (1,258) 260 522
2,014 746 (1,258) - 1,502
2,203 795 (1,328) - 1,670

Operating lease commitments

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

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the
followin eriods:		 The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the
followin eriods:		 The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the
followin eriods:
-
4
-
1
-
1
-
1
-
1
1 - 2 years
2 - 3 years
Less than 1 year
3 - 4 years
h
g p
2025
2024
£'000
£'000
Other
- 4

FiT entered into an office licence arrangement during 2025 for 2 years. FiT can exit the arrangement, giving a months notice.

67

Fields in Trust

Notes to the financial statements

For the year ended 31 December 2025

23 Legal status of the charity

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

24 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
Playing Field and Recreation Ground Holt
King George's Fields Stepney		 2025
2024
£'000
£'000
53
53
202
92		 166
92
218 179

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		 2025
£'000
195		 2024
£'000
195
424 318

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.

68