Charity number: 503507
Oughtibridge War Memorial Recreation Ground
Report and financial statements
Year ended
31 October 2024
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
| Contents | Pages |
|---|---|
| Report of the trustees | 3 – 5 |
| Consolidated statement of financial activities | 6 |
| Consolidated and charity balance sheet | 7 |
| Consolidated cash flow statement | 8 |
| Notes forming part of the financial statements | 9 -16 |
2
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Report of the Trustees
The trustees submit their annual report and financial statements for the year ended 31 October 2024. The trustees confirm that these statements with the Charities Act 2011, the provisions of the Charities SORP (FRS102) and with the Charity’s governing instrument.
Reference and Administrative Information
The charity was founded in 1974 and is registered with the Charity Commission under charity number 50307
Registered office: 44 Alford Avenue, Oughtibridge, Sheffield, S35 0JQ
Bankers: NatWest Bank Plc., 42 High Street, Sheffield, S1 2GE
Directors and trustees
The trustees serving during the year and since year-end were as follows:
Kevin Pursall Stephen Hill Ian Sanderson
Structure, governance and management
Governing Document
The Charity is governed by its Trust deed dated 1974 and last amended in 1987
Organisational Management
The Charity is governed by an Executive /committee made up of the trustees of the charity together with additional members made up of representatives of the user groups of the charities facilities. The Executive Committee meets on a monthly basis to make all decisions in the running of the charity. However, overall, the charity trustees are legally responsible for the overall management of the charity.
Appointment of trustees
The role of the trustees is to ensure that it overseas the work of the charity effectively. Should any variances occur, new trustees will be appointed at the AGM following nomination by members but appointment will be at the sole discretion of the remaining legal trustees.
Trustee induction and training
New trustees receive appropriate induction and training, which will include:
- The obligations and responsibilities of trustees
3
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
-
The main documents that set out the operational framework of the trust including the Trust Deed
-
Resourcing and the current financial position as set out in the latest published accounts
-
Future plans and objectives.
Trustees are expected to keep up to date with the trust’s affairs in order to provide effective governance.
Group Structure and Relationships
The charity has a wholly owned subsidiary, Trust Fund for the Oughtibridge War Memorial Recreation Ground. Its results are consolidated within these accounts.
Risk management
The charity believes that risk management is an essential part of its management process. A review of the charity’s risk management processes is undertaken on an annual basis and the trustees are satisfied that the major risk identifies are adequately mitigated where necessary
Objectives and activities
The Charity’s objects, as set out in its Trust Deed, are the provision of a recreational ground for the general benefit of the inhabitants of the Oughtibridge area.
Achievements and performance
During the year to 31 October 2024, the Recreation Ground enjoyed a full year of sporting activities.
The Recreation Ground organised and held a successful music festival in August
Plans for the future
The plans for the future surround the further promotion of the grounds and facilities for sporting events to benefit the village of Oughtibridge and surrounding areas.
A music festival in the summer of 2025 is in the planning stage.
Financial Review and Results for the Year
With the benefit of a Main grant, for consultancy in respect of financial support, in addition to the trading activities of the Recreation Ground and the resident sports teams, rand the successful music festival resulted in a surplus of £14,533 compared to the previous year’s loss of £5,396
Investment powers
Under the Trust deed the trust has the power to invest I any way the Trustees considers appropriate to meet the trust’s objectives.
Reserves policy
The Board has considered the Trust’s need for reserves in the light of the main risks facing the charity. In the present financial situation, they recognise that it is important for the trust to work
4
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
towards a position where it holds unrestricted cash reserves equivalent to an agreed number of months of operating costs, ideally at least six months.
Accounting and Reporting Responsibilities
The Charities Act 2011 requires the trustees to prepare accounts for each financial year which give true and fair view of its financial activities during the year and of its financial position at the end of the year. In preparing he accounts the trustees should follow best practice and:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the accounts
-
Prepare the accounts on a going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
The trustees are responsible for keeping accounting records which are such as to be disclosed, with reasonable accuracy, the financial position of the Charity at any time, and to enable them as trustees to ensure that the accounts comply with charity law. The trustees are also responsible for safeguarding the Charity’s assets and ensuring their proper application in accordance with Charity Law, and hence for taking reasonable steps for the prevention and detections of error, fraud and other irregularities.
Approved by the trustees on and signed on its behalf
K Pursall Trustee
5
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
| Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
|---|---|---|---|---|
| 70,885 | - | 70,885 | 20,779 | |
| - 5,003 26,043 21,246 400 |
- - 3,661 - |
- 5,003 26,043 24,907 400 |
- 9,996 65 16,254 400 |
|
| 52,691 | 3,661 | 56,352 | 26,715 | |
| 18,194 | (3,661) | 14,533 | (5,936) | |
| 18,194 139,564 |
(3,661) 130,298 |
14,533 269,862 |
(5,936) 275,799 |
|
| 157,758 | 126,637 | 284,395 | 269,862 |
6
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Consolidated and charity balance sheet at 31 October 2024
| Note Fixed assets Tangible assets 4 Current Assets Stock Debtors 5 Cash at Bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Funds Unrestricted funds 7,8 Restricted funds 7,8 Total funds |
Group & charity 2024 £ 263,165 |
Group & charity 2023 £ 248,334 |
|---|---|---|
| 263,165 | 248,334 | |
| - 5,638 19,038 |
- 1,639 28,019 |
|
| 24,676 | 29,657 | |
| 3,448 | 8,131 | |
| 21,228 | 21,527 | |
| 284,395 | 269,862 | |
| 157,758 126,637 |
139,564 130,298 |
|
| 284,395 | 269,862 |
The financial statements were approved and authorised for issue by the trustees and signed on its behalf on
K Pursall Trustee
7
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Consolidated cash flow statement for the year ended 31 October 2024
| Note Net cash inflow from operating activities 11 Returns on investements and servicing of finance 11 Capital expenditure and financial investment 11 Increase in cash in the year 11 Reconciliation of net cash flow to movements in net funds Increase in cash in the period Net opening funds Net closing funds 11 |
2024 £ 14,615 145 (23,741) (8,981) 2024 £ (8,981) 28,019 19,038 |
2023 £ 3,470 79 - |
|---|---|---|
| 3,549 | ||
| 2023 £ 3,549 24,469 |
||
| 28,019 |
The notes on pages 9 - 16 form part of these financial statements
8
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Notes forming part of the financial statements for the year ended 31 Oct 2024
1. Accounting Policies
Basis of preparation
The financial statements have been prepared under the Charities Act 2011 and the historical cost convention. The financial statements have been prepared in accordance with the Charities SORP (FRS102).
The Statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the charity and its subsidiary undertaking, Trust Fund for the Oughtibridge War Memorial Recreation Ground. The results of the subsidiary are consolidated on a line-by-line basis.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund, the aim and use of each restricted fund is set out in the notes to the financial statements.
Designated funds are funds, which have been designated by the trustees for a particular purpose as described in note 8. These form part of unrestricted funds, as the donors of these funds stipulated no particular purpose for their uses.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific points are applied to particular categories of income:
-
Voluntary income is received by way of grants, donations and legacies and is included in full in the Statement of Financial Activities when received. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Donations for purposes restricted by the wishes of the donor are taken to restricted funds where these wishes are legally binding on the trustees.
-
Investment Income is included when receivable and represents interest received on the company’s cash deposits.
-
Fees and similar income for services and the use of premises are accounted for in the period in which the service is provided.
9
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
- Donated facilities and services are included at the value to the charity where this can be quantified and a third party is bearing a cost. No amounts are included in the financial services donated by volunteers
Resources expended
All expenditure is accounted for on an accruals basis and as a liability is incurred. It is reported as part of the expenditure to which it relates:
-
Cost of generating funds comprise the costs associated with attracting voluntary income, and those incurred in trading activities that raise funds.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including staffing and other overhead costs.
-
Governance costs include costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
Tangible fixed assets and depreciation
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:
Land and buildings 2% straight line Plant and machinery 10% straight line Furniture, fixtures and equipment 25% straight line
Investments
Investments are stated at market value at the balance sheet date.
2 Voluntary income
Donations and grants totalling £23,471 (2023 - £10,000) were received.
10
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
3. Total resources expended
| 3. Total resources expended | ||||
|---|---|---|---|---|
| Costs directly allocated to activities Insurance Licences Light & heat Printing, postage and stationery Rates Audit Sundry costs Telephone Repairs and maintenance Depreciation Finance costs Total resources expended |
Maintenance of recreational grounds £ 2,573 423 2,719 725 1,717 336 387 7,117 8,910 - |
Governance £ 400 |
Total 2024 £ 2,573 423 2,719 725 1,717 400 336 387 7,117 8,910 - |
Total 2023 £ 1,857 553 2,496 117 1,423 400 99 307 2,407 6,995 - |
| 24,907 | 400 | 25,307 | 16,654 |
No trustees received remuneration in the period
11
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
4. Tangible assets – charity and group
| Cost or valuation At 1 November 2023 Additions Disposals At 31 October 2024 Depreciation At 1 November 2023 Charge for year Disposals At 31 October 2024 Net book value At 31 October 2023 At 31 October 2024 |
freehold land and buildings £ 323,078 - |
plant and machinery £ 21,486 4,220 |
fixtures, fittings & Equipment 9,832 19,521 |
Total £ 354,396 23,741 - |
|---|---|---|---|---|
| 323,078 | 25,706 | 29,353 | 378,137 | |
| 74,913 6,457 |
21,486 352 |
9,663 2,101 |
99,067 8,910 - |
|
| 81,370 | 21,838 | 11,764 | 114,972 | |
| 248,165 | - | 169 | 248,334 | |
| 241,708 | 3,868 | 17,589 | 263,165 |
Freehold land and buildings include four acres of land at Oughtibridge which was gifted to the organisation in 1921 and a further piece of land adjoining the above land which was acquired in 1972 for £1.
5. Debtors
| 5. Debtors | ||
|---|---|---|
| Prepayments Debtors |
Group & Charity 2024 £ 5,638 |
Group & Charity 2023 £ 1,639 |
| 5,638 | 1,639 |
12
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
6. Creditors: amounts falling due within one year
| Accurals and deferred income Total Creditors balance under one year |
Group & charity 2024 £ 3,448 |
Group & charity 2023 £ 8,131 |
|---|---|---|
| 3,448 | 8,131 |
7. Statement of funds
| Unrestricted fund - General Unrestricted fund - Designated Unrestricted funds - total Restricted fund |
At 1 Nov 2023 £ 73,634 65,930 |
Incoming resources £ 54,414 16,471 |
Outgoing resources £ 51,787 904 |
At 31 Oct 2024 £ 76,261 81,497 |
|---|---|---|---|---|
| 139,564 130,299 |
70,885 0 |
52,691 3,661 |
157,757 126,638 |
|
| 269,862 | 70,886 | 56,352 | 284,395 |
The general fund represents the free funds of the charity, which are not designated for particular purposes.
The designated funds represents funds allocated by the trustees for the purpose of rebuilding the pavilion buildings following the flood in June 2007 which destroyed the original building.
The restricted funds are restricted by the wishes of the donors and are described in note 9.
13
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
8. Analysis of group net assets between funds
| Fund balances at 31 October 2024 are represented by: Tangible fixed assets Investments Current assets Current liabilities Total net assets |
Restricted funds £ 126,638 |
General funds £ 136,528 - 24,677 (3,448) |
Total £ 263,166 - 24,677 (3,448) |
|---|---|---|---|
| 126,638 | 157,758 | 284,395 |
9. Restricted funds Sheffield Town Trust
| Plant & Machinery Freehold Land & Buildings Total Restricted funds |
Balance 01-Nov-23 £ - 130,299 |
Movement in resources Incoming Outgoing £ £ - 0 3,661 0 3,661 |
Movement in resources Incoming Outgoing £ £ - 0 3,661 0 3,661 |
Balance 31-Oct-24 £ - 126,638 |
|---|---|---|---|---|
| 130,299 | 0 | 3,661 | 126,638 |
There were no further donations during the year towards the building work of the replacement pavilion building following the floods.
The expenditure represents the depreciation of the assets.
10. Subsidiary organisation
The charity owns the Trust Fund for the Oughtibridge War Memorial Recreation Ground, which held an investment to generate income towards the maintenance of the Oughtibridge War Memorial Recreation Ground. The investment was realised in 2013
14
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
11. Cash flow information for the group
a. Reconciliation of changes in resources to net inflow from operating activities
| Net incoming resources before interest Depreciation (increase)/decrease in stocks (increase)/decrease in debtors Increase/(decrease) in creditors Net cash inflow from operating activites b. Capital expenditure and financial investment Payment to acquire tangible fxed assets Proceeds from sale of investment c. Returns on investment and service of finance Interest received Investment Income Net Closing funds d. Analysis of net funds / debt Cash at bank and in hands At 1 November 2023 Cashflow At 31 October 2024 |
2024 £ 14,388 8,910 - (3,999) (4,684) |
2023 £ (6,015) 6,995 - (202) 2,692 |
|---|---|---|
| 14,615 | 3,470 | |
| 23,741 - |
- - |
|
| 23,741 | - | |
| 145 - |
79 - |
|
| 145 | 79 | |
| (8,981) | 3,549 | |
| 28,019 (8,981) |
24,469 3,549 |
|
| 19,038 | 28,019 |
12. Capital commitments
At 31 October 2024 the charity was not committed to any expenditure:
15
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
13. Income and expenditure account
These financial statements consolidate the results of the charity and its subsidiary, Trust Fund for the Oughtibridge War Memorial Recreation Ground. A separate SOFA for the charity itself is not presented because the charity has taken advantage of the exceptions afforded by the Charities SORP (FRS102).
14. Ultimate controlling party
There is no overall controlling party.
16
Charity number: 503507
Oughtibridge War Memorial Recreation Ground
Report and financial statements
Year ended
31 October 2024
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
| Contents | Pages |
|---|---|
| Report of the trustees | 3 – 5 |
| Consolidated statement of financial activities | 6 |
| Consolidated and charity balance sheet | 7 |
| Consolidated cash flow statement | 8 |
| Notes forming part of the financial statements | 9 -16 |
2
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Report of the Trustees
The trustees submit their annual report and financial statements for the year ended 31 October 2024. The trustees confirm that these statements with the Charities Act 2011, the provisions of the Charities SORP (FRS102) and with the Charity’s governing instrument.
Reference and Administrative Information
The charity was founded in 1974 and is registered with the Charity Commission under charity number 50307
Registered office: 44 Alford Avenue, Oughtibridge, Sheffield, S35 0JQ
Bankers: NatWest Bank Plc., 42 High Street, Sheffield, S1 2GE
Directors and trustees
The trustees serving during the year and since year-end were as follows:
Kevin Pursall Stephen Hill Ian Sanderson
Structure, governance and management
Governing Document
The Charity is governed by its Trust deed dated 1974 and last amended in 1987
Organisational Management
The Charity is governed by an Executive /committee made up of the trustees of the charity together with additional members made up of representatives of the user groups of the charities facilities. The Executive Committee meets on a monthly basis to make all decisions in the running of the charity. However, overall, the charity trustees are legally responsible for the overall management of the charity.
Appointment of trustees
The role of the trustees is to ensure that it overseas the work of the charity effectively. Should any variances occur, new trustees will be appointed at the AGM following nomination by members but appointment will be at the sole discretion of the remaining legal trustees.
Trustee induction and training
New trustees receive appropriate induction and training, which will include:
- The obligations and responsibilities of trustees
3
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
-
The main documents that set out the operational framework of the trust including the Trust Deed
-
Resourcing and the current financial position as set out in the latest published accounts
-
Future plans and objectives.
Trustees are expected to keep up to date with the trust’s affairs in order to provide effective governance.
Group Structure and Relationships
The charity has a wholly owned subsidiary, Trust Fund for the Oughtibridge War Memorial Recreation Ground. Its results are consolidated within these accounts.
Risk management
The charity believes that risk management is an essential part of its management process. A review of the charity’s risk management processes is undertaken on an annual basis and the trustees are satisfied that the major risk identifies are adequately mitigated where necessary
Objectives and activities
The Charity’s objects, as set out in its Trust Deed, are the provision of a recreational ground for the general benefit of the inhabitants of the Oughtibridge area.
Achievements and performance
During the year to 31 October 2024, the Recreation Ground enjoyed a full year of sporting activities.
The Recreation Ground organised and held a successful music festival in August
Plans for the future
The plans for the future surround the further promotion of the grounds and facilities for sporting events to benefit the village of Oughtibridge and surrounding areas.
A music festival in the summer of 2025 is in the planning stage.
Financial Review and Results for the Year
With the benefit of a Main grant, for consultancy in respect of financial support, in addition to the trading activities of the Recreation Ground and the resident sports teams, rand the successful music festival resulted in a surplus of £14,533 compared to the previous year’s loss of £5,396
Investment powers
Under the Trust deed the trust has the power to invest I any way the Trustees considers appropriate to meet the trust’s objectives.
Reserves policy
The Board has considered the Trust’s need for reserves in the light of the main risks facing the charity. In the present financial situation, they recognise that it is important for the trust to work
4
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
towards a position where it holds unrestricted cash reserves equivalent to an agreed number of months of operating costs, ideally at least six months.
Accounting and Reporting Responsibilities
The Charities Act 2011 requires the trustees to prepare accounts for each financial year which give true and fair view of its financial activities during the year and of its financial position at the end of the year. In preparing he accounts the trustees should follow best practice and:
-
Select suitable accounting policies and apply them consistently
-
Make judgements and estimates that are reasonable and prudent
-
Follow applicable accounting standards and the Charities SORP, disclosing and explaining any departures in the accounts
-
Prepare the accounts on a going concern basis unless it is inappropriate to assume that the Charity will continue in operation.
The trustees are responsible for keeping accounting records which are such as to be disclosed, with reasonable accuracy, the financial position of the Charity at any time, and to enable them as trustees to ensure that the accounts comply with charity law. The trustees are also responsible for safeguarding the Charity’s assets and ensuring their proper application in accordance with Charity Law, and hence for taking reasonable steps for the prevention and detections of error, fraud and other irregularities.
Approved by the trustees on and signed on its behalf
K Pursall Trustee
5
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
| Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
Consolidated statements of financial activities for the year ended 31 October 2024 Note Unrestricted funds Restricted funds Total this year Total last year £ £ £ £ Incoming resources Incoming resources from generated funds - - - - Voluntary income 2 23,471 - 23,471 10,000 Investment income 145 - 145 79 Incoming resources from charitable activities 47,269 - 47,269 10,700 Other incoming resources - - - - 70,885 - 70,885 20,779 Resources expended Costs of Generating Funds - - - - Costs of generating voluntary income 3 5,003 - 5,003 9,996 Charitable activities Event costs 26,043 26,043 65 Cost of maintenance of recreation ground 3 21,246 3,661 24,907 16,254 Governance costs 3 400 - 400 400 3 52,691 3,661 56,352 26,715 18,194 (3,661) 14,533 (5,936) 18,194 (3,661) 14,533 (5,936) 139,564 130,298 269,862 275,799 7 157,758 126,637 284,395 269,862 Net movement in funds Total funds brought forward Total funds carried forward Other recognised gains/(losses) Total incoming resources Total resources expended Net incoming/(outgoing) resources before other |
|---|---|---|---|---|
| 70,885 | - | 70,885 | 20,779 | |
| - 5,003 26,043 21,246 400 |
- - 3,661 - |
- 5,003 26,043 24,907 400 |
- 9,996 65 16,254 400 |
|
| 52,691 | 3,661 | 56,352 | 26,715 | |
| 18,194 | (3,661) | 14,533 | (5,936) | |
| 18,194 139,564 |
(3,661) 130,298 |
14,533 269,862 |
(5,936) 275,799 |
|
| 157,758 | 126,637 | 284,395 | 269,862 |
6
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Consolidated and charity balance sheet at 31 October 2024
| Note Fixed assets Tangible assets 4 Current Assets Stock Debtors 5 Cash at Bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Funds Unrestricted funds 7,8 Restricted funds 7,8 Total funds |
Group & charity 2024 £ 263,165 |
Group & charity 2023 £ 248,334 |
|---|---|---|
| 263,165 | 248,334 | |
| - 5,638 19,038 |
- 1,639 28,019 |
|
| 24,676 | 29,657 | |
| 3,448 | 8,131 | |
| 21,228 | 21,527 | |
| 284,395 | 269,862 | |
| 157,758 126,637 |
139,564 130,298 |
|
| 284,395 | 269,862 |
The financial statements were approved and authorised for issue by the trustees and signed on its behalf on
K Pursall Trustee
7
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Consolidated cash flow statement for the year ended 31 October 2024
| Note Net cash inflow from operating activities 11 Returns on investements and servicing of finance 11 Capital expenditure and financial investment 11 Increase in cash in the year 11 Reconciliation of net cash flow to movements in net funds Increase in cash in the period Net opening funds Net closing funds 11 |
2024 £ 14,615 145 (23,741) (8,981) 2024 £ (8,981) 28,019 19,038 |
2023 £ 3,470 79 - |
|---|---|---|
| 3,549 | ||
| 2023 £ 3,549 24,469 |
||
| 28,019 |
The notes on pages 9 - 16 form part of these financial statements
8
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
Notes forming part of the financial statements for the year ended 31 Oct 2024
1. Accounting Policies
Basis of preparation
The financial statements have been prepared under the Charities Act 2011 and the historical cost convention. The financial statements have been prepared in accordance with the Charities SORP (FRS102).
The Statement of financial activities (SOFA) and balance sheet consolidate the financial statements of the charity and its subsidiary undertaking, Trust Fund for the Oughtibridge War Memorial Recreation Ground. The results of the subsidiary are consolidated on a line-by-line basis.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund, the aim and use of each restricted fund is set out in the notes to the financial statements.
Designated funds are funds, which have been designated by the trustees for a particular purpose as described in note 8. These form part of unrestricted funds, as the donors of these funds stipulated no particular purpose for their uses.
Incoming resources
All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific points are applied to particular categories of income:
-
Voluntary income is received by way of grants, donations and legacies and is included in full in the Statement of Financial Activities when received. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. Donations for purposes restricted by the wishes of the donor are taken to restricted funds where these wishes are legally binding on the trustees.
-
Investment Income is included when receivable and represents interest received on the company’s cash deposits.
-
Fees and similar income for services and the use of premises are accounted for in the period in which the service is provided.
9
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
- Donated facilities and services are included at the value to the charity where this can be quantified and a third party is bearing a cost. No amounts are included in the financial services donated by volunteers
Resources expended
All expenditure is accounted for on an accruals basis and as a liability is incurred. It is reported as part of the expenditure to which it relates:
-
Cost of generating funds comprise the costs associated with attracting voluntary income, and those incurred in trading activities that raise funds.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including staffing and other overhead costs.
-
Governance costs include costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
Tangible fixed assets and depreciation
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight-line basis over their expected useful economic lives as follows:
Land and buildings 2% straight line Plant and machinery 10% straight line Furniture, fixtures and equipment 25% straight line
Investments
Investments are stated at market value at the balance sheet date.
2 Voluntary income
Donations and grants totalling £23,471 (2023 - £10,000) were received.
10
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
3. Total resources expended
| 3. Total resources expended | ||||
|---|---|---|---|---|
| Costs directly allocated to activities Insurance Licences Light & heat Printing, postage and stationery Rates Audit Sundry costs Telephone Repairs and maintenance Depreciation Finance costs Total resources expended |
Maintenance of recreational grounds £ 2,573 423 2,719 725 1,717 336 387 7,117 8,910 - |
Governance £ 400 |
Total 2024 £ 2,573 423 2,719 725 1,717 400 336 387 7,117 8,910 - |
Total 2023 £ 1,857 553 2,496 117 1,423 400 99 307 2,407 6,995 - |
| 24,907 | 400 | 25,307 | 16,654 |
No trustees received remuneration in the period
11
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
4. Tangible assets – charity and group
| Cost or valuation At 1 November 2023 Additions Disposals At 31 October 2024 Depreciation At 1 November 2023 Charge for year Disposals At 31 October 2024 Net book value At 31 October 2023 At 31 October 2024 |
freehold land and buildings £ 323,078 - |
plant and machinery £ 21,486 4,220 |
fixtures, fittings & Equipment 9,832 19,521 |
Total £ 354,396 23,741 - |
|---|---|---|---|---|
| 323,078 | 25,706 | 29,353 | 378,137 | |
| 74,913 6,457 |
21,486 352 |
9,663 2,101 |
99,067 8,910 - |
|
| 81,370 | 21,838 | 11,764 | 114,972 | |
| 248,165 | - | 169 | 248,334 | |
| 241,708 | 3,868 | 17,589 | 263,165 |
Freehold land and buildings include four acres of land at Oughtibridge which was gifted to the organisation in 1921 and a further piece of land adjoining the above land which was acquired in 1972 for £1.
5. Debtors
| 5. Debtors | ||
|---|---|---|
| Prepayments Debtors |
Group & Charity 2024 £ 5,638 |
Group & Charity 2023 £ 1,639 |
| 5,638 | 1,639 |
12
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
6. Creditors: amounts falling due within one year
| Accurals and deferred income Total Creditors balance under one year |
Group & charity 2024 £ 3,448 |
Group & charity 2023 £ 8,131 |
|---|---|---|
| 3,448 | 8,131 |
7. Statement of funds
| Unrestricted fund - General Unrestricted fund - Designated Unrestricted funds - total Restricted fund |
At 1 Nov 2023 £ 73,634 65,930 |
Incoming resources £ 54,414 16,471 |
Outgoing resources £ 51,787 904 |
At 31 Oct 2024 £ 76,261 81,497 |
|---|---|---|---|---|
| 139,564 130,299 |
70,885 0 |
52,691 3,661 |
157,757 126,638 |
|
| 269,862 | 70,886 | 56,352 | 284,395 |
The general fund represents the free funds of the charity, which are not designated for particular purposes.
The designated funds represents funds allocated by the trustees for the purpose of rebuilding the pavilion buildings following the flood in June 2007 which destroyed the original building.
The restricted funds are restricted by the wishes of the donors and are described in note 9.
13
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
8. Analysis of group net assets between funds
| Fund balances at 31 October 2024 are represented by: Tangible fixed assets Investments Current assets Current liabilities Total net assets |
Restricted funds £ 126,638 |
General funds £ 136,528 - 24,677 (3,448) |
Total £ 263,166 - 24,677 (3,448) |
|---|---|---|---|
| 126,638 | 157,758 | 284,395 |
9. Restricted funds Sheffield Town Trust
| Plant & Machinery Freehold Land & Buildings Total Restricted funds |
Balance 01-Nov-23 £ - 130,299 |
Movement in resources Incoming Outgoing £ £ - 0 3,661 0 3,661 |
Movement in resources Incoming Outgoing £ £ - 0 3,661 0 3,661 |
Balance 31-Oct-24 £ - 126,638 |
|---|---|---|---|---|
| 130,299 | 0 | 3,661 | 126,638 |
There were no further donations during the year towards the building work of the replacement pavilion building following the floods.
The expenditure represents the depreciation of the assets.
10. Subsidiary organisation
The charity owns the Trust Fund for the Oughtibridge War Memorial Recreation Ground, which held an investment to generate income towards the maintenance of the Oughtibridge War Memorial Recreation Ground. The investment was realised in 2013
14
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
11. Cash flow information for the group
a. Reconciliation of changes in resources to net inflow from operating activities
| Net incoming resources before interest Depreciation (increase)/decrease in stocks (increase)/decrease in debtors Increase/(decrease) in creditors Net cash inflow from operating activites b. Capital expenditure and financial investment Payment to acquire tangible fxed assets Proceeds from sale of investment c. Returns on investment and service of finance Interest received Investment Income Net Closing funds d. Analysis of net funds / debt Cash at bank and in hands At 1 November 2023 Cashflow At 31 October 2024 |
2024 £ 14,388 8,910 - (3,999) (4,684) |
2023 £ (6,015) 6,995 - (202) 2,692 |
|---|---|---|
| 14,615 | 3,470 | |
| 23,741 - |
- - |
|
| 23,741 | - | |
| 145 - |
79 - |
|
| 145 | 79 | |
| (8,981) | 3,549 | |
| 28,019 (8,981) |
24,469 3,549 |
|
| 19,038 | 28,019 |
12. Capital commitments
At 31 October 2024 the charity was not committed to any expenditure:
15
Oughtibridge War Memorial Recreation Ground Annual report and financial statements for the year ended 31 October 2024
13. Income and expenditure account
These financial statements consolidate the results of the charity and its subsidiary, Trust Fund for the Oughtibridge War Memorial Recreation Ground. A separate SOFA for the charity itself is not presented because the charity has taken advantage of the exceptions afforded by the Charities SORP (FRS102).
14. Ultimate controlling party
There is no overall controlling party.
16
cimA Seachelle Consulting Limited PPACTI>NG CEIiT151CATE K)LDER Chartered Management Accountants Independent examiner's report on the accounts Report to the trusteesl members of Oughtibridge War Memorial Recreation Ground On accounts for the year ended 31 October 2024 Charity no (if any) 503507 Set out on pages Respective responsibilities The charity's trustees are responsible for the preparation of the accounts. The of trustees and examiner charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission {under section 14515){b} of the Charities Act, and to state whether particular matters have come to my attention. Basis of independent My examination was carried out in accordance with general Directions given by the examinerfs statement Charity Commi55ion. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts Seachelle Consultlng Ltd. 24 Orchard Street. Oughtlbrfdge, Sheffleld. S35 OHL Tel no. 07725 193639, Emall. Seanfowler bto enworld.com Re8lstered In England no.8872469
cimA Seachelle Consulting Limited PRAUISING CERTIFICATE HOLDER Chartered Management Accountants present a 'true and fairf view and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my attention l. which gives me reasonable cause to believe that in, any material respect, the requirements- to keep accounting records in accordance with section 130 of the Charities Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have been met Signed: Date: )L L/ Name: Sean Fowler, ACMA CGMA Relevant professional qualification{s) or body (if any): Chartered Institute of Management Accountants (CIMA) Address: 24 Orchard Street Ougtibridge Sheffield, S35 OHL Seachelle Consultlng Ltd. 24 Orchard StreeL Oughtlbrldge, Sheffield. S35 OHL Tel no. 07725 193639. Emall. Seanfowler bto enworld.com Reglstered In England no.8872469
cimA Seachelle Consulting Limited PPACTI%NC CERTIFICATE HOLDER Chartered Management Accountants Only complete if the examiner needs to highlight material problems. Give here brief details of any items that the examiner wishes to disclose. Seachelle Consultlng Ltd, 24 Orchard Street. Ou8ht5brldge. Sheffield. S35 OHL Tel no. 07725 193639, Email. Seanfowler bto enworld.co Reglstered In England no.8872469