**Charity registration number 522557** **ST. GEORGES RECREATION GROUND AND PUBLIC HALL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr C Smithies| |---|---| ||Mr J Fletcher| ||Mr A Smith| ||Mr C Freeman| ||Mr M Lowe| ||Mrs V Fletcher| ||Mr M Waldron| ||Mr D Lowe| ||Mr I Fletcher| ||Mr I Gaut| ||Mr G Goodfield| |**Charity number**|522557| |**Principal address**|Church Street| ||St. Georges| ||Telford| ||United Kingdom| ||TF2 9LU| |**Accountants**|Azets| ||Column House| ||London Road| ||Shrewsbury| ||Shropshire| ||United Kingdom| ||SY2 6NN| ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Accountants' report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the accounts|6 - 11| ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The objects of the charity are the provision and maintenance of a public recreation ground and of a village hall. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** The charity receives rental income from the St Georges Sports and Social Club, out of which the expenses of the charity are met. Funds are held in current and deposit accounts to ensure sufficient funds are available to meet the day to day requirements of the charity. ## **Financial review** The reserves of the charity are all unrestricted funds. Funds are held in such a way that liquid resources are available to cover management and administrative expenses as they occur. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** St Georges Recreation Grounds and Public Hall is constituted under a trust deed dated 18 June 1924. The charity number is 522557. The trustees who served during the year and up to the date of signature of the financial statements were: Mr C Smithies Mr J Fletcher Mr A Smith Mr C Freeman Mr M Lowe Mrs V Fletcher Mr M Waldron Mr D Lowe Mr I Fletcher Mr I Gaut Mr G Goodfield Trustees are appointed at the Annual General Meeting and serve for a 3 year period. Trustees meet monthly to discuss the organisation and running of the charity. - 1 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ The trustees' report was approved by the Board of Trustees. ## **Mr J Fletcher** Trustee Dated: 30 January 2025 - 2 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ST. GEORGES RECREATION GROUND AND PUBLIC HALL FOR THE YEAR ENDED 31 MARCH 2024** In order to assist you to fulfil your duties under the Companies Act 2014, we have prepared for your approval the financial statements of St. Georges Recreation Ground and Public Hall for the year ended 31 March 2024, set out on pages to 11 from the charity’s accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rulesand-standards/rulebook.html. This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 22 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of St. Georges Recreation Ground and Public Hall and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technicalfactsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than St. Georges Recreation Ground and Public Hall and the charity's trustees as a body, for our work or for this report. It is your duty to ensure that St. Georges Recreation Ground and Public Hall has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and deficit of St. Georges Recreation Ground and Public Hall. You consider that St. Georges Recreation Ground and Public Hall is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report. We have not been instructed to carry out an audit or a review of the financial statements of St. Georges Recreation Ground and Public Hall. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. ## **Azets** 30 January 2025 Column House London Road Shrewsbury Shropshire SY2 6NN United Kingdom - 3 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ |||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**3**|5,000|-| |Investments|**4**|20,228|20,103| |**Total income**||25,228|20,103| |**Expenditure on:**|||| |Charitable activities|**5**|28,653|26,822| |**Net expenditure for the year/**|||| |**Net movement in funds**||(3,425)|(6,719)| |Fund balances at 1 April 2023||229,887|236,606| |**Fund balances at 31 March 2024**||226,462|229,887| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2024**_ |**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**12**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**13**
**Net assets**
**Income funds**
Unrestricted funds|**2024**
**£**
4,554
(2,430)|**£**
230,918
2,124
233,042
(6,580)
226,462
226,462
226,462|**2023**
**£**
3,980
(2,380)|**£**
234,867
1,600
236,467
(6,580)
229,887
229,887
229,887| |---|---|---|---|---| The financial statements were approved by the Trustees on 30 January 2025 Mr J Fletcher **Trustee** - 5 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **Charity information** St. Georges Recreation Ground and Public Hall is constituted under a trust deed dated 18 June 1924. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the charity's governing document. the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Resources expended are recognised as a liability is incurred. Irrecoverable VAT is included as part of the cost to which it relates. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Land and buildings straight line over 50 years Plant and machinery 25% straight line Equipment 20% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 7 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **1 Accounting policies** ## **(Continued)** ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** ||**Unrestricted**|Total| |---|---|---| ||**funds**|| ||**2024**|2023| ||**£**|£| |Donations and gifts|5,000|-| ## **4 Investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Rental income|20,228|20,103| - 8 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **5 Charitable activities** |Rates
Insurance
Light and heat
Ground maintenance and repairs
Tractor insurance
Sundry expenses
Share of support costs (see note 6)
Share of governance costs (see note 6)
**Analysis by fund**
Unrestricted funds
**For the year ended 31 March 2023**
Unrestricted funds|**2024**
**£**
1,610
2,232
1,678
17,137
415
562
23,634
3,949
1,070
28,653
28,653
28,653|**2023**
**£**
1,940
1,500
1,599
11,781
925
4,166| |---|---|---| |||21,911
4,145
792| |||26,822| |||26,822| |||26,822| ## **6 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Depreciation
3,949
-
Legal and professional
-
1,070
3,949
1,070
Analysed between
Charitable activities
3,949
1,070|**2024**
**£**
3,949
1,070
5,019
5,019|**2023 Basis of allocation**
**£**
3,951
960 Governance
4,911
4,911| |---|---|---| ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or expenses during the year. - 9 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ ## **8 Employees** The average monthly number of employees during the year was: ||**2024**|**2023**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **9 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **10 Tangible fixed assets** |**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation and impairment**
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|**Land and**
**buildings**
**Plant and**
**machinery**
**Equipment**
**£**
**£**
**£**
292,532
24,614
8,582
292,532
24,614
8,582
58,680
24,614
7,567
2,934
-
1,015
61,614
24,614
8,582
230,918
-
-
233,852
-
1,015|**Total**
**£**
325,728| |---|---|---| |||325,728| |||90,861
3,949| |||94,810| |||230,918| |||234,867| - 10 - ## **ST. GEORGES RECREATION GROUND AND PUBLIC HALL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_ |**11**
**Financial instruments**
**Carrying amount of financial liabilities**
Measured at amortised cost
**12**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**13**
**Creditors: amounts falling due after more than one year**
Loan from St Georges Social Club|**2024**
**£**
9,010
**2024**
**£**
2,430
**2024**
**£**
6,580|**2023**
**£**
8,960| |---|---|---| |||**2023**
**£**
2,380| |||**2023**
**£**
6,580| - 11 -