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FARNHAM PARK SPORTS FIELDS CHARITY NO 308164

Annual Report and Accounts For the year ended 31 March 2022

FARNHAM PARK SPORTS FIELDS CHARITY NO 308164

Annual Report and Accounts For the year ended 31 March 2022

	Index
		Page
Trustee’s Annual Report		2
Statement of Financial Activities (SoFA)		10
Balance Sheet		11
Statement of Cash Flow		12
Notes to the Accounts		13
Independent Auditor’s Report		24

V1.9

Trustee’s Annual Report

Charity Details

Official charity name Farnham Park Sports Fields Registered charity number 308164

Charity’s principal address The Gateway Gatehouse Road Aylesbury Bucks, HP19 8FF Charity trustee Buckinghamshire Council is the sole Corporate Trustee from 1 April 2020. Principal Officers Chief Executive Sophie Payne (from April 2020) Service Director Culture, Sport & Leisure of Buckinghamshire Council Treasurer David Skinner (from July 2022) Service Director of Finance & s151 Officer of Buckinghamshire Council Principal advisors External audit Azets Audit Services Suites B & D, Burnham Yard, Beaconsfield, Bucks HP9 2JH Bank Barclays Bank Plc 16/18 St Peters Street, St Albans, Herts AL3 4DZ

Financial and legal support is provided by Buckinghamshire Council.

Structure, Governance and Management

Governing Document and how the Charitable Trust is Constituted

The Farnham Park Sports Fields charity is governed by the Eton Rural District Council (ERDC) Act 1971.

Prior to the ERDC Act land and buildings at Farnham Park Sport Field (FPSF), and parts of the South Buckinghamshire Golf Course (SBGC) were controlled by the Farnham Park Recreational Trust, which was constituted by a conveyance dated 30th December 1946 between United Commercial Association Limited and the Trustees of the Trust.

The ERDC Act transferred these assets to Eton Rural District Council. South Bucks District Council (SBDC) became the successor in title to Eton Rural District Council, under provisions contained in the Local Government Act 1972. Buckinghamshire Council (a unitary authority) assumed all the responsibilities of SBDC under the relevant legislation.

The ERDC Act obliges Buckinghamshire Council to maintain and manage the transferred land in accordance with the purposes of the original trust (as substantially re-enacted in schedule 4 of the ERDC Act). These assets therefore form a charitable trust, with Buckinghamshire Council being the sole corporate trustee. Furthermore as the usage of these assets is subject to the restrictions contained within this Act, these assets represent a permanent endowment.

Trustee’s Annual Report

Trustee Appointment

As Buckinghamshire Council is the sole Corporate Trustee, Members of Buckinghamshire Council act in a corporate capacity as trustee. There are no other charity trustees.

Organisational Structure of the Charitable Trust

The Members of Buckinghamshire Council (acting as corporate trustee) make the strategic decisions relating to the operation of the facilities. The Buckinghamshire Council Cabinet annually approves the Trust budget. The day-to-day management is undertaken by Council officers in line with approved guidelines.

Relationship between the Charitable Trust and Related Parties

All financial, legal and operational support is provided by Buckinghamshire Council and this affects the Charitable Trust in the following ways:

All staff who are involved in the Charitable Trust are employed by Buckinghamshire Council;
The key management personnel are members and officers of Buckinghamshire Council, and receive no remuneration from the Charitable Trust.

Risks

The Charitable Trust complies with the Buckinghamshire Council risk management strategy and the Buckinghamshire Council risk management policy. In particular risks relating to the Charitable Trust’s activities are identified, evaluated and monitored in an appropriate risk register.

The main risk that the Charitable Trust faces is that its income is solely dependent on attracting people to use its facilities. It has to compete in a competitive market for leisure facilities and therefore has to ensure its facilities and prices are comparable to its competitors whilst still promoting its charitable objectives around open access. Furthermore, expenditure on leisure activities is very dependent on external economic conditions and as it is providing outside leisure facilities it is affected by the weather. Thus the Charitable Trust needs to be able to cope with and appropriately respond to changes in demand due to these external factors.

The nature of the Charitable Trust’s facilities also means that there will periodically need to be investment to maintain / modernise the facilities in line with changing customer expectations. The Charitable Trust therefore needs to ensure that there is a long term robust business plan and access to finance, to ensure that it is able to continue to operate within the Charitable Trust’s available resources over the long term. In this respect it is very dependent on the Council as Corporate Trustee.

Trustee’s Annual Report

Objectives and Activities

Objectives of Charitable Trust

The objectives of the Charitable Trust are set out in the ERDC Act and are as follows:

‘The maintenance and improvement of the physical well-being of persons resident in the rural district of Eton and adjoining areas by the provision of facilities for physical training and recreation and for promoting and encouraging all forms of recreational activities calculated to contribute to the health and physical well-being of such persons.’

Charitable Trust Aims

The Charitable Trust aims to maintain and improve the physical well-being of local residents by providing high quality, public sporting facilities at reasonable prices.

Specifically, it:

maintains the Farnham Park Playing Fields to enable clubs to let or hire these facilities, and
operates the South Buckinghamshire Golf Course on a public pay and play basis.

Objectives for Year

The key objectives for 2021/22 were:

To ensure that the facilities continue to provide value for money for users, and
To ensure that the facilities are operated within the Charitable Trust’s available resources.

Strategies for Achieving Objectives

To ensure that the facilities provide value for money for users, the Charitable Trust aims to:
maintain the facilities to a high standard, including having proper regard to the safety of users of the facilities.
annually review its fees and charges to ensure that they remain competitive, and
offer discounted prices for under 18s, senior citizens and those on low incomes.
To ensure that the facilities operate within the Charitable Trust’s available resources, the Charitable Trust sets an annual budget and monitors this throughout the year, taking corrective action as necessary.

Public Benefit

Public Benefit is the legal requirement that every organisation set up for one or more charitable aims must be able to demonstrate that its aims are for the public benefit.

The Charitable Trust is aware of the Charity Commission’s guidance on public benefit, and believes that the Charitable Trust’s aims meet the two key public benefit principles which are set out in the Charity Commission guidance:

Principle 1: There must be an identifiable benefit or benefits
Principle 2: Benefit must be to the public, or a section of the public.

Trustee’s Annual Report

Achievements and Performance

Review of Activities Undertaken

Farnham Park Playing Fields comprises of one full size rugby pitch; six adult and seven junior football pitches, plus four softball and two baseball pitches, along with a children’s play area operated by Farnham Royal Parish Council.

During 2021/22 the following organisations were the main users of these facilities:

BaseballSoftballUK Limited (Farnham Park National Baseball & Softball Complex)
Farnham Royal Rugby Club
Unity Martial Arts.

In addition to these organisations, there were a number of football teams hiring pitches on a season and casual basis. The number of teams playing at the site increased during 2021/22, due to Gerrards Cross and Fulmer FC booking pitches for their junior teams from January 2022 onwards; they have confirmed that they will return for the 2022-23 season.

The total number of football and rugby matches played during the year exceeded 330; with additional training sessions throughout the season (September to April) there were over 9,000 participants, not including spectators.

In addition, baseball and softball attracted over 15,000 participants during their season (March To October).

The number of rounds played at the South Buckinghamshire in 2021/22 was 36,661, the highest number of rounds played in a year since 2007-08. The continuing increase in demand from golfers is thought to be due to changes in working patterns (more people being able to play due to working from home), as well as golf being viewed as a safe sport to play in light of Covid-19; maintenance work at another local course has also led to some golfers playing at The South Buckinghamshire.

During 2021/22, income from the bar and catering operation continued to be affected by Covid-19, with facilities only able to operate in a limited capacity in the initial months of the year, in line with the Government roadmap for the gradual easing of restrictions on indoor hospitality, and more generally, customer confidence impacting on demand for functions and events; recovery is ongoing.

The Trust was able to benefit from some of the government Covid-19 support available, as can be seen from the £61k reflected in these accounts; the overall position was that the Trust ended the year in a positive position, with a surplus on its net operating costs.

Offering a high quality course at a competitive price in future years continues to be imperative to the success of the golf operation, and as a result there will be ongoing maintenance during the winter period to improve the quality of the course, and reduce the number of closure days due to flooded areas.

Trustee’s Annual Report

Financial Review

Review of Year

During 2021/22 the Charitable Trust generated income totalling £1,196K and spent £1,254K giving a net deficit for the year of £58K. A claim for loss of income due to Covid-19 was paid by the Government, amounting to £61K [20/21 £384k]. The net surplus for the year was £3K. The table below compares the budget for the year with the actual expenditure.

Farnham Park Sports Fields Income Expenditure Depreciation South Buckinghamshire Golf Course Income Expenditure Depreciation South Buckinghamshire Catering Income Expenditure Government Covid-19 Claim Management Fee Income	Budget Figures Actual Variance (Act-Budget) £’000 £’000 £’000 76 69 -7 -203 -246 -43 -10 -60 -50
	-137 -237 -100
	622 663 41 -573 -600 -27 -62 -64 -2
	-13 -1 12 282 181 -101 -299 -284 15
	-17 -103 -86 - - 61 283 61 283
	-167 3 170

The figures given in the table above include the amounts claimed under the Covid-19 loss of income scheme as a separate line.

When the course re-opened at the end of March 2021 there was a high demand despite the restrictions put in place to ensure the safety of the public. As a result, the Golf Course did achieve the level of income anticipated. However, the catering operation incurred a loss as a result of the closures and restrictions in place due to the pandemic.

The Playing Fields, in common with the majority of playing field facilities, suffered from the restrictions in place on team sports, with changing rooms not being made available, and on large events, which led to fewer softball tournaments taking place, and therefore reduced income from the hire of pitches.

Charitable Trust income comes from fees and charges paid by users of the facilities, and all charitable expenditure relates to providing sporting facilities to help maintain and improve the physical well-being of local residents.

The following table provides a summary of the Charitable Trust’s key assets and liabilities:

Fixed Assets Current Assets Clubhouse Loan from Buckinghamshire Council Other Liabilities	At 31 March 2022 At 31 March 2021 £’000 £’000 3,928 4,043 547 742 -1,290 -1,388 -2,705 -2,920
	480 477

Trustee’s Annual Report

Reserve Policy - Unrestricted Fund

Nature of Reserve: This Fund represents the accumulated year on year surplus / deficit of income over expenditure that has been accumulated by the Charitable Trust.

Minimum Value of Fund: The Charitable Trust aims to ensure that the charity operates within its means and therefore aims to ensure that it always holds a balance on its unrestricted funds sufficient to meet its known future commitments.

The current Unrestricted Fund balance is a deficit of £1,114K (2020/21 £1,178K; 2019/20: £987K). This means that as in previous years the Charitable Trust continues to rely on the ongoing support of Buckinghamshire Council.

Usage: The Unrestricted Funds can be applied for any lawful purpose of the charitable trust.

Reserve Policy - Restricted Fund

Nature of Reserve: The Restricted Fund is made up of monies received in 1998/99 for the sale of Farm Cottages. The current balance is £247K from the Farm Cottages sale.

Minimum Value of Fund: The value of the restricted funds will reduce over time to reflect the depreciation of the clubhouse and the use of the sale monies to fund redevelopment.

Usage: The Restricted Funds consist of the Farm Cottage Fund set aside for any future redevelopment of the Playing Fields and money from Sport England set aside to cover ongoing usage of the Clubhouse.

Reserve Policy - Endowment Fund

Nature of Reserve: The Endowment Fund represents the value of the assets that were transferred under the ERDC Act.

Minimum Value of Fund: The value of the Endowment Fund will reduce over time to reflect depreciation of the endowment assets.

Usage: Endowment funds cannot generally be spent, and thus changes to the value of the endowment reserve will only be due to changes in the value of the endowment assets.

Trustee’s Annual Report

Statement of Trustee’s Responsibilities

The trustee is responsible for preparing a Trustee’s annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, The Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008 requires the trustee 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 incoming resources and application of resources, including the net income and expenditure of the charity for that year. In preparing those financial statements, the trustee is required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP (FRS102);
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going-concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustee is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustee is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Plans for Future Periods

Works are underway for 2022/23 to improve the quality of the playing pitches to support increased utilisation. The Trust is also working with partners to explore installation of Padel Tennis courts, subject to the necessary planning approvals, to complement the existing facilities and increase participation and income. In addition, BaseballSoftballUK are continuing their investment into their facilities, with upgrades including the creation of a fifth softball field.

The Trust and the Council will also continue developing longer term plans in line with their shared objectives around supporting physical activity and the wellbeing of residents, while improving the financial sustainability and resilience of the Trust. These will take account both of the opportunities emerging through the Council’s wider strategies and of external factors affecting the Trust operations, such as the effects of the weather, the general economy (including close monitoring of the impacts of increases in energy charges and general supplies) and competition from other facilities in the area. In the immediate future, there are no plans to make any changes in the support levels currently provided by the Council.

Trustee’s Annual Report

Declaration

The Buckinghamshire Council acting as Corporate Trustee has delegated responsibility to the Audit & Governance Committee of the authority to review and approve the Charitable Trust’s Accounts. These accounts will be signed by David Skinner, the Service Director of Finance and s151 officer on behalf of the Trustees.

It is therefore declared that the Buckinghamshire Council’s Audit & Governance Committee, on behalf of the Charity, reviewed this Annual Report and the accompanying Accounts for the financial year ending 31[st] March 2022 at their meeting on 27 September 2022.

Approved and signed on behalf of the Corporate Trustee by:

David Skinner

Service Director of Finance & s151 Officer

Date: 27 September 2022

Statement of Financial Activities (SoFA)

This statement shows the income and expenditure of the Charitable Trust during the year and the accumulated funds at the Charitable Trust’s disposal. All operations are continuing.

2021/22 Unrestricted Funds £’000 2021/22 Restricted Funds £’000 61 - 69 663 181 - - - 283 -	2021/22 Endowment Funds £’000 - - - - -	2021/22 Total Funds £’000	2020/21 Unrestricted Funds £’000 2020/21 Restricted Funds £’000 2020/21 Endowment Funds £’000 2020/21 Total Funds £’000 384 - - 384 -4 301 42 - - - - - - -4 301 42 2 - - 2

		61

		69 663 181
		283
1,196 - -246 -600 -284 -63 - - - -	- - - - -61	1,196	341 - - 341 -170 -516 -167 -63 - - - - - - - -10 -170 -516 -167 -73

		-246 -600 -284 -124
-1,193 -	-61	-1,254	-916 - -10 -926

64 -	-61	3	-191 - -10 -201
-1.178 247 -1,114 247	1,408 1,347		-987 247 1,418 678 -1,178 247 1,408 477
		477
		480

*a This is the amount paid by the Government for loss of income during the Pandemic
*b This is the management fee in relation to work carried out by the Trust on behalf of Buckinghamshire Council

Balance Sheet

This statement shows the assets and liabilities of the Charitable Trust and the balances and reserves at the Charitable Trust’s disposal.

		At 31	At 31	At 31	At 31	At 31
		March	March	March	March	March
Notes		2022 Unrestricted Funds	2022 Restricted Funds	2022 Endowment Funds	2022 Total Funds	2021 Total Funds
			Farm Cottage
			Sale
		£’000	£’000	£’000	£’000	£’000
	Fixed Assets
8	Intangible Assets – software	-	-	-	-	-
9	Tangible Assets	2,581	-	1,347	3,928	4,043
		2,581	-	1,347	3,928	4,043
	Current Assets
10	Stock – finished goods	9	-	-	9	9
11	Debtors	412	-	-	412	441
	Cash at Bank	126	-	-	126	292
		547	-	-	547	742
	Current Liabilities
12	Creditors: Amounts due within 1 year	-566	-	-	-566	-781
	Amount due to related party	-2,386	247	-	-2,139	-2,139
	(Buckinghamshire Council)
13	Loan from Buckinghamshire Council	-100	-	-	-100	-95
		-3,052	247	-	-2,805	-3,015
	Net Current Assets or Liabilities	-2,505	247	-	-2,258	-2,273
	Total Assets less Current Liabilities	76	247	1,347	1,670	1,770
	Long Term Liabilities
13	Loan from Buckinghamshire Council	-1,190	-	-	-1,190	-1,293
	Net Assets	-1,114	247	1,347	480	477
	Unrestricted Fund	-1,114	-	-	-1,114	-1,178
	Restricted Fund	-	247	-	247	247
14	Endowment Fund	-	-	1,347	1,347	1,408
	Total Funds	-1,114	247	1,347	480	477

Signed on behalf of the Corporate Trustee

David Skinner

Service Director of Finance & s151 Officer

Date: 27 September 2022

Statement of Cash Flow

This statement shows the changes in cash and cash equivalents during the reporting period.

Cash flows from operating activities Net movement for the financial year Adjustments for: Depreciation of tangible assets Impairment of tangible assets Interest Paid (Increase)/decrease in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by (used in) operating activities Cash flows from investing activities Purchase of tangible assets Purchase of intangible assets Net Cash provided by (used in) financing activities Cash flows from financing activities: Repayments of loan from Buckinghamshire Council Interest Paid Net Cash provided by (used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Split by: Cash at Bank Amount due to Buckinghamshire Council	2021/22 £’000 2020/21 £’000 3 -201 75 73 49 - 19 29 - 3 30 -375 -216 726
	-40 255
	-9 -38 - -
	-9 -38
	-98 -93 -19 -29
	-117 -122

	-166 95
	-1,847 -1,942
	-2,013 -1,847
	126 292 -2,139 -2,139
	-2,013 -1,847

Notes to the Accounts

1. General Information

Farnham Park Sports Fields is a Charitable Trust governed by the Eton Rural District Council (ERDC) Act 1971 and is registered charity number 308164. The principal address is The Gateway, Gatehouse Road, Aylesbury, Bucks, HP19 8FF.

2. Statement of Accounting Policies

Basis of Accounting

These Accounts have been prepared in accordance with:

Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and UK Generally Accepted Accounting Practice as it applies from 1 April 2021.
Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102), and
The Charities Act 2011.

Farnham Park Sports Fields meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Presentational Currency

These accounts have been presented in sterling (£) which is also the functional currency of the Charitable Trust. Monetary amounts in the financial statements are rounded to the nearest £’000.

Income

Recognition of income These are included in the Statement of Financial Activities (SoFA) when: - the Charitable Trust becomes entitled to the income; - the Trustee is virtually certain they will receive the income; and - the monetary value can be measured with sufficient reliability. Income with related Where income has related expenditure (as with fundraising or contract income) the expenditure income and related expenditure are reported gross in the SoFA. Grants and donations Grants and donations are only included in the SoFA when the Charitable Trust has unconditional entitlement to the resources. Contractual income and This is only included in the SoFA once the related goods or services have been performance related grant delivered. Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the Charitable Trust or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the Charitable Trust. Gifts in kind for use by the Charitable Trust are included in the SoFA as incoming resources when receivable. Donated services and These are only included in incoming resources (with an equivalent amount in facilities resources expended) where the benefit to the Charitable Trust is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the Charitable Trust of the service or facility received.

Notes to the Accounts

Expenditure and Liabilities

Liability recognition Liabilities are recognised if it is probable that there is a legal or constructive obligation committing the Charitable Trust to pay out resources. Expenditure All expenditure is accounted for on an accruals basis. All expenses including support costs are allocated or apportioned to the applicable expenditure headings. Costs of charitable activities consist of those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g., allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Grants with performance Where the Charitable Trust gives a grant with conditions for its payment being a conditions specific level of service or output to be provided, such grants are only recognised in the Statement of Financial Accounts (SoFA) once the recipient of the grant has provided the specified service or output. Grants payable without These are only recognised in the accounts when a commitment has been made performance conditions and there are no conditions to be met relating to the grant which remain in the control of the Charitable Trust. Pension Contributions The Charitable Trust operates a defined benefits pension scheme. The scheme is a multi-employer scheme where it is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to the Charitable Trust. The Charitable Trust accounts for this scheme as if it was a defined contribution scheme. The amount charged to the SoFA represents contributions payable to the scheme in respect of the accounting period. Creditors Creditors are recognised where the Trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured reliably. Creditors are recognised at their settlement amount due.

Assets Intangible fixed assets for These are capitalised if the cost is significant and they can be used for more than use by the Charitable Trust one year. Expenditure that maintains but does not add to an asset’s future economic benefits is charged as an expense.

Assets are measured at cost, comprising all expenditure that is directly attributable to bringing the asset into working condition for its intended use.

Notes to the Accounts

Assets - continued

Tangible fixed assets for use	These are capitalised if the cost is significant and they can be used for more than
by the Charitable Trust	one year. Expenditure that maintains but does not add to an asset’s future
	economic benefits is charged as an expense.
	Assets are measured at cost, comprising all expenditure that is directly
	attributable to bringing the asset into working condition for its intended use.
	A review for impairment of a fixed asset is carried out if events or changes in
	circumstances indicate that the carrying value of any fixed assets and their
	recoverable amounts are recognised as impairments. Impairment losses are
	recognised in the statement of financial activities.
	The Trust does not adopt an accounting policy of revaluing any classes of assets.
Stocks	These are valued at the lower of cost or market value. Where necessary,
	provision is made for obsolete, slow moving and defective stocks.
Debtors	Debtors are recognised at the settlement amount due.
Cash at bank	Cash at bank represents short term highly liquid investments with a short term
	maturity of three months or less from the date of acquisition or opening of the
	deposit or similar account

Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historic experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that had the most significant effect on amounts recognised in the financial statements.

Useful economic lives of The annual depreciation charge for tangible assets is sensitive to changes in the fixed assets estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are considered annually.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

VAT

The Charitable Trust is registered for VAT. It is however able to exempt from VAT any charges it makes to individuals of services closely linked with and essential to sport, per the VAT Act 1994, Schedule 9, Group 10, Item 3. This includes green fees.

As a consequence, VAT payable is not generally recoverable from Her Majesty’s Revenue and Customs, and is included as an expense when appropriate.

Going Concern

As Corporate Trustee, The Council has a duty to ensure that the Trust operates within its available resources. If the Trust were ever to exhaust its funds, then the Council as corporate Trustee would need to put in place a recovery plan which could include supporting the Trust financially.

Notes to the Accounts

3. Charitable Expenditure

Employees Premises Transport Supplies & Services Bad Debt Provision Depreciation Interest Support Costs: Human Resources Finance ICT Property & Facilities Governance	Sports Field £’000 Golf Course £’000 Catering £’000 Golf Management £’000 Grounds Maintenance £’000 2021/22 Total £’000 2020/21 Total £’000 2 - 140 222 266 630 526 35 47 2 3 6 93 65 - - - - 19 19 19 33 3 74 - 89 - 55 - 90 - 341 3 186 - 64 41 - - 19 124 74 - 19 - - - 19 29 2 4 - - - 6 6 3 6 - - - 9 9 1 - - - - 1 3 - - - - - - 1 3 6 - - - 9 9
	146 197 231 280 400 1,254 927

Governance costs are those costs that are associated with the general running of the Charitable Trust, as opposed to those costs associated with specific charitable activity. Governance costs include: internal and external audit; legal advice for trustees; the cost of preparing statutory accounts; and costs associated with strategic management. Golf Management and Grounds Maintenance are recharged to the Sports Field, Golf Course and Catering on the SoFA and Review of Year.

4. Trustee Expenses

The key management personnel comprise the members who received no remuneration or other financial benefits from the Charitable Trust during either the current or previous year. Any expenses claimed by Members are paid by Buckinghamshire Council rather than the Charitable Trust. No expenses were claimed during 2021/22.

5. Audit Costs

The Charitable Trust incurred the following fees relating to external audit.

Auditors’ fees for reporting on the accounts	2021/22 £’000 2020/21 £’000 18 9
	18 9

Notes to the Accounts

6. Paid Employees

There was an average of 18 (2020/21: 18) staff who worked at the Farnham Park Sports Fields and the South Buckinghamshire Golf Course during 2021/22. This includes full-time, part-time and casual staff.

Basic pay National insurance Pension costs Overtime Temporary Staff Apprenticeship Levy Other employee costs	2021/22 £’000 2020/21 £’000 443 391 41 36 113 97 7 - 13 - 2 1 11 1
	630 526

No employee earns more than £60,000 a year.

In addition, as Buckinghamshire Council provides support services to the Trust, a number of other Buckinghamshire Council employees also provide support to the Trust. None of these support staff spend more than 50% of their time on supporting the Trust and they have therefore been excluded from the analysis above.

7. Pensions

As part of the terms and conditions of employment of its officers, the Charitable Trust makes contributions towards the cost of post-employment benefits (i.e. pensions).

The Charitable Trust participates in the Local Government Pension Scheme which is administered by Buckinghamshire Council. This scheme is a defined benefit scheme based on Career Average Revalued Earnings (CARE).

It is not possible, in the normal course of events, to identify on a consistent and reasonable basis, the share of underlying assets and liabilities belonging to the Charitable Trust.

The pension cost charge represents contributions payable by the Charitable Trust to the fund and amounted to £113k. There were no outstanding contributions payable to the fund as at 31 March 2022.

Contributions of at least £113K are estimated to be payable in the year ending 31 March 2023.

Notes to the Accounts

8. Intangible Fixed Assets – Software

Valuation Balance brought forward Balance carried forward Accumulated Depreciation and Impairment Provisions Balance brought forward Depreciation charge for year Balance carried forward Net Book Value Brought forward Carried forward	2021/22 £’000 2020/21 £’000 15 15
	15 15 15 15 - -
	15 15 - - - -

Intangible assets are amortised using the straight-line method over a period of up to 5 years after the year of expenditure.

9. Tangible Fixed Assets

	Freehold	Freehold	Freehold	Freehold	Freehold	Vehicles	Total
	Land	Buildings	Buildings	Land	Buildings	Equip’t
	Sports	Sports	Sports	Golf	Golf	and IT
	Fields	Fields	Fields	Course	Course	Systems
	£’000	£’000	£’000	£’000	£’000	£’000	£’000
	PE	PE		PE
Valuation
Balance b/f	327	293	420	858	2,397	388	4,683
Additions	-	-	-	-	-	9	9
Disposals	-	-	-	-	-	-12	-12
Balance c/f	327	293	420	858	2,397	385	4,680
Accumulated Depreciation	and Impairment Provisions
Balance b/f	-	71	49	-	239	281	640
Depreciation charge	-	11	7	-	40	17	75
Impairment Charge	-	49	-	-	-	-	49
Disposals depreciation	-	-	-	-	-	-12	-12
Balance c/f	-	131	56	-	279	286	752
Net Book Value
Brought forward	327	222	371	858	2,158	298	4,043
Carried forward	327	162	364	858	2,118	99	3,928

PE - These assets are part of the Charitable Trust’s permanent endowment.

Depreciation is provided on all fixed assets with a finite useful life in accordance with FRS102 as follows:

Land Not depreciated.

Buildings Using the straight-line method over the useful life of the asset after the year of expenditure. These range from 20 to 60 years.

Fixtures & Fittings

Using the straight-line method over a period of 10 years after the year of expenditure.

Vehicles, equipment Using the straight-line method over a period of up to 10 years after the year of and IT Systems expenditure.

Notes to the Accounts

Security over Assets

None of the assets of the Charitable Trust have been used as security for any loan, overdraft or other credit arrangement.

Capital Commitments

There are no monies due in relation to capital contracts as at 31 March 2022.

Investment in Fixed Endowment Assets

During 2021/22 the Trust incurred no expenditure on the Land and Buildings that are held as a Permanent Endowment (PE).

Leases

The Trust leases one building along with several pitches to BSUK (BaseballSoftballUK) on a 25-year lease which started in June 2016. A further two buildings are leased on a rolling annual basis. The other buildings are currently vacant or not usable due to their age and condition. The drop in minimum lease payments reflects the decrease in the remaining time on the long term lease.

The future minimum lease payments due under the leases are:

Not later than one year Later than one year not later than five years Later than five years	At 31 March 2022 £’000 At 31 March 2021 £’000 26 25 67 79 - 5
	93 109

The income credited to the Comprehensive Income and Expenditure Statement during the year in relation to these leases was:

Minimum lease payments	2021/22 £’000 2020/21 £’000 30 7
	30 7

10. Stock

All stock held by the Charitable Trust are classified as finished goods. Stock recognised as an expense during the year was £93K (2020/21: £17k).

Notes to the Accounts

11. Debtors and Prepayments – Amounts Falling Due Within 1 Year

Amounts due for rent of facilities Amounts due from Buckinghamshire Council Other amounts due Prepayments and accrued income Bad Debts Provision	At 31 March 2022 £’000 At 31 March 2021 £’000 18 13 330 384 27 5 51 50 -14 -11
	412 441

Amounts due from Buckinghamshire Council in 2021/22 relate to management fee due.

12. Creditors and Accruals - Amounts Falling Due Within 1 Year

Creditors Trade Creditors Audit fee Deferred season ticket and Flexi-card income	At 31 March 2022 £’000 At 31 March 2021 £’000 82 70 331 648 18 9 135 54
	566 781

Other Trade Creditors being the invoices raised by Buckinghamshire Council for Salaries and the Loan Charge which were unpaid at the year end.

Deferred income

ferred income
Deferred income as of 1 April 2021 Received in the year Credited to statement of financial activities Total deferred income as of 31 March 2022	At 31 March 2022 £’000 At 31 March 2021 £’000 54 - 270 80 -189 -26
	135 54

All deferred income, which represents golf season tickets and flexicards paid in advance, is included within Creditors: amounts falling due within 1 year.

Notes to the Accounts

13. Loan from Buckinghamshire District Council

The clubhouse building which opened April 2014 was primarily funded from an unsecured £1.98m loan from South Bucks District Council. This will be repaid over 20 years from 2015. The interest rate charged is based on the Public Works Loan Board (PWLB) variable annuity rate published for 1[st] April each year . The loan is now repayable to Buckinghamshire Council as the successor to South Bucks District Council.

The principal payments due under the loan are as follows:

Not later than one year Later than one year not later than five years Later than five years Total Liability Interest repayment on the loan was	At 31 March 2022 £’000 At 31 March 2021 £’000 100 95 412 398 778 895
	1,290 1,388

	19 29

14. Endowment Funds

The Farnham Park Sports Fields Charity is governed by the Eton Rural District Council Act 1971. This Act transferred to Eton Rural District Council land and buildings at Farnham Park Sport Field, and parts of South Buckinghamshire Golf Course. The Assets subsequently transferred to South Bucks District Council and then Buckinghamshire Council in April 2020 as part of local government reorganisation. The usage of these assets is subject to the restrictions contained within that Act. These assets therefore represent a permanent endowment.

15. Operating Lease Commitments

The Farnham Park Sports Fields has the following commitments under a rental agreement for the supply of golf buggies and another agreement for the leasing of course/grounds maintenance equipment. There are two separate agreements for the leasing of grounds maintenance equipment.

Not later than one year Later than one year not later than five years Later than five years	At 31 March 2022 At 31 March 2021 £’000 £’000 76 78 103 138 3 -
	182 216

Lease payments recognised as an expense during the year were £78k (2020/21: £40k).

Notes to the Accounts

16. Related Party Transactions

The Charitable Trust is required to disclose material transactions with related parties – bodies or individuals that have the potential to control or influence the Charitable Trust, or to be controlled or influenced by the Charitable Trust. Disclosure of these transactions allows readers to assess the extent to which the Charitable Trust might have been constrained in its ability to operate independently, or might have secured the ability to limit another party’s ability to bargain freely with the Charitable Trust.

The Eton Rural District Council Act 1971 transferred the Charitable Assets to Eton Rural District Council. SBDC was the successor in title to Eton Rural District Council, under provisions contained in the Local Government Act 1972. In April 2020 Buckinghamshire Council became the successor to SBDC. As such the charitable activities form part of the activities of Buckinghamshire Council.

Members of Buckinghamshire Council.

Members of Buckinghamshire Council have direct control over the Charitable Trust’s financial and operational policies and senior officers of the Council have control over the day-to-day management of the Charitable Trust. However, any actions taken are required to comply with the Charitable Trust’s objectives and procedurally must follow the Council’s constitution, financial and contract procedure rules, and codes of conduct.

Assisted organisations.

The Charitable Trust did not provide any material assistance to any organisations that comprised more than 50% of their funding, on terms that gave the Charitable Trust effective control over their operations.

Companies and joint ventures.

The Charitable Trust does not have any interests in companies outside of its normal contractual arrangements.

Transaction terms and conditions

The loan payable to Buckinghamshire Council is repayable by 31/03/2034. Interest is charged at a variable rate based on the Public Works Loan Board rates.

Transactions with Buckinghamshire Council as sole Corporate Trustee

	2021/22	2020/21
	£’000	£’000
As at 31 March included in debtors:-
Other debtors receivable from Buckinghamshire Council
Covid-19 loss of income scheme.	-	384
Management fee	330	-
As at 31 March included in creditors:-
Trade Creditors payable to Buckinghamshire Council (Note a)	331	648
Funding payable to Buckinghamshire Council	2,139	2,139
Loans payable to Buckinghamshire Council	1,290	1,388
For the year ended 31 March included within
the Statement of Financial Activities:-
Interest payable on loans to BC	19	29
Covid-19 loss of income scheme	61

Note a - Invoices raised by the Council for Salaries, Loan Charges and other expenses which were unpaid (pending payment) at the year end.

Notes to the Accounts

17. Analysis of changes in net debt

	Balance at
	beginning of		Other	Balance at
	year	Cash Flow	changes	end of year
	£’000	£’000	£’000	£’000
Cash at Bank	292	-166	-	126
Amounts due to related party (BC)	-2,139	-	-	-2,139
	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------
Total cash and cash equivalents	-1,847	-166	-	-2,013
	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------
Loan from Bucks Council due within one year	-95	-5		-100
Loan from Bucks Council due more than one year	-1,293	103	-	-1,190
	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------	-----------------------------------------------------
Total net debts	-3,235	-68	-	-3,303
	======================	======================	======================	======================

18. Events after the Balance Sheet Date

For the 2021/22 accounts there are no significant adjusting or non-adjusting events to disclose.

Independent Auditor’s report to the Trustee of Farnham Park Sports Fields

Opinion

We have audited the financial statements of Farnham Park Sports Fields (the ‘charity’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of the incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

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 charity 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 enough and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

adequate accounting records have not been kept by the charity, or returns adequate for our audit have not been received from branches not visited by us; or
the charity’s financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

As explained more fully in the Statement of the responsibilities of the Board of Trustees, 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 charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the charity through enquiry and inspection;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

David Cary LLB FCA (Senior Statutory Auditor) For and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Suites B & D Burnham Yard Buckinghamshire HP9 2LH

Date: 4 October 2022

2022-03-31-accounts

FARNHAM PARK SPORTS FIELDS CHARITY NO 308164