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South Shields FC Foundation Limited |
For the year ended 30 June 2023
Report of the Trustees and Unaudited Financial Statements
2
For the year ended 30 June 2023
South Shields FC Foundation Limited
Contents Page
1 to 3
Report of the Trustees
4
Independent Examiner's Report to the Trustees
5
Statement of Financial Activities
6
Statement of Financial Position
7 to 14
Notes to the Financial Statements
3
For the year ended 30 June 2023
South Shields FC Foundation Limited
Report of the Trustees
The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial |
statements for the charitable company for the year ended 30 June 2023. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2015). |
Chair's report
Statement of Trustees' responsibilities |
The Trustees are responsible for preparing the Trustees' report and the accounts in accordance with Charities Act 2011 and United |
Kingdom Generally Accepted Accounting Practice. |
The Charities Act 2011 requires the Trustees to prepare accounts for each financial year which give a true and fair view of its financial |
activities during the year and of its financial position at the end of the year. In presenting those accounts, they are required to: |
- select suitable accounting policies and then apply them consistently; |
- observe the methods and principles in the Charities SORP FRS 102; |
- make judgements and estimates that are reasonable and prudent; |
- follow applicable UK accounting standards and the Charities SORP FRS 102, disclosing and |
explaining any departures in the accounts; and |
- prepare the accounts on the going concern basis unless it is inappropriate to do so. |
The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the |
financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011 and with the |
requirements of the Statement of Recommended Practice 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 (FRS102) |
(effective 1 January 2015) - Charities SORP FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland |
(FRS102). They are 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 besides the |
This report was approved by the trustees on 28th March 2024 |
OBJECTIVES AND ACTIVITIES |
South Shields FC Foundation is South Shields FC’s Club Community Organisation (CCO) as recognised by the National League North, which is part of the FA football pyramid. It is also a registered charity. It’s aim is to support the mental health and wellbeing of people living in South Tyneside and the surrounding area. Many parts South Tyneside and the wider North East of England sit in the worst 5% of communities as measured by National Indices of Multiple Deprivation. Its activities are organised around the five contributing factors to mental health and wellbeing as recognised by the NHS. These are: 1. Participating in healthy activities - we offer activities for people of all ages to participate in football, walking football, dance, boxing and fitness. A significant part of this is a Personal, Health , Social and Economic (PSHE) programme in schools connected to the National Curriculum; 2. Giving Something Back - we offer around 70 volunteering opportunities for people some of which are connected to employment pathways with the Foundation and Football Club in coaching and stewarding. We also organise and host events that raise money for local charities; 3. Learning a new Skill - we offer skills development and activities that encourage people to continue to learn, particularly those activities that support pathways to employment for those furthest away from employment. 4. Taking Notice - we deliver a number of campaigns, some connected to Football League and Premier League campaigns, to raise awareness and understanding of important societal issues 5. Making Friends - we deliver a number of activities that help people to stay connected, tackling social isolation |
Objectives and aims
The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. |
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4
For the year ended 30 June 2023
South Shields FC Foundation Limited
Report of the Trustees Continued
ACHIEVEMENTS AND PERFORMANCE |
These financial statements should be read alongside our Social Accounts for the financial year ended 30 June 2023. Those contain details of our activities and social impact within the community. Highlights include: 1. A PSHE Programme in 12 local schools that engages over 1800 young people each week in activities connected to the National Curriculum including healthy activities, multi sports, literacy, numeracy and personal and social development. 2. A Music Festival that raised £6500 in ticket sales which was donated to local charity Cancer Connections 3. An innovative employability project for 50 young people from Epinay School, a local school for children with Special Educational Needs. This project saw Year 11 students take responsibility for delivering retail. hospitality and horticulture activities at football sites in a project designed to raise their skills and confidence and support pathways to employment beyond Year 11. 4. Our two main footballing programmes, a grass roots football club and a performance hybrid academy engaged more than 600 young people aged 6-17 in weekly activities supported by a group of 70 volunteers and Foundation coaching staff. 5. Three campaigns including a presence at first team match days promoting awareness about Mental Health and Show Racism the Red Card, 6. Open community participation programmes that had more than 7500 visits to participate in healthy activities in the year including a programme to ensure that those children who normally receive school meals can participate in healthy holiday activities that offer a healthy meal. We use a Wellbeing Evaluation Methodology to assess the overall impact of our work. In 2022/23 we achieved over £4million in social impact bringing our total impact since formation in 2017 to £18.5million. That represents a social return on investment of £13 for every £1 we spend. |
The Foundation returned a modest profit in 2022/23 and we are optimistic that the trading performance will continue to improve in 2023/24. Factors that have impacted on the level of profitability in 2022/23 are: 1. Depreciation on kit and equipment (£20,971) which was deprecated last year over a two year period. The amount of kit purchased in 2023/24 and beyond will be significantly reduced as kit is now purchased independently by teams and therefore depreciation will be considerably less in next years accounts. 2. The Licence Fee payment in 2022/23 for the use of Harton Welfare increased significantly from circa £39k to circa £74k this is attributable to the rising energy costs during the year. 3. Additional incomes are predicted in 2023/24 from the current sales pipeline. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
South Shields FC Foundation is a charitable company with dual reporting to Companies House and the Charity Commission. Trustees |
and Directors are shared between the charity and the guarantee company. |
REFERENCE AND ADMINISTRATIVE INFORMATION |
South Shields FC Foundation Limited
Charity registration number |
1176894
10257450
Company registration number |
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5
For the year ended 30 June 2023
South Shields FC Foundation Limited
Report of the Trustees Continued
The trustees and officers serving during the year and since the year end were as follows:
Gary Crutwell
Stephen David Taylor
Martin Ronald Urwin
Keith Finnigan
Geoff Thompson
Ernest Gibson (appointed on 01/07/2022)
(Appointed: 01 July 2022) |
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
South Tyneside
NE31 2EQ
............................................................................. |
Approved by the Board of Trustees and signed on its behalf by |
3 of 14
6
For the year ended 30 June 2023
South Shields FC Foundation Limited
Independent Examiners Report to the Trustees
I report to the trustees on my examination of the accounts of the charitable company for the year ended 30 June 2023. |
Responsibilities and basis of report |
As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. |
Independent examiners statement |
Since the Charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of |
the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed |
bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me |
cause to believe that in any material respect: |
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or |
2. the accounts do not accord with those records; or |
3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give |
a 'true and fair view' which is not a matter considered as part of an independent examination; or |
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice |
for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting |
Standard applicable in the UK and Republic of Ireland (FRS 102). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in |
this report in order to enable a proper understanding of the accounts to be reached. |
Beach Accountants Limited
Chartered Certified Accountants
10 Blue Sky Way
Monkton Business Park South
South Tyneside
NE31 2EQ
28 February 2024
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7
For the year ended 30 June 2023
South Shields FC Foundation Limited
Statement of Financial Activities (including Income and Expenditure Account)
2022
Income and endowments from: |
292,703
181,895
2
34,274
42,912
3
60,105
17,677
4
-
10,000
387,082
252,484
(94,575)
(70,231)
5/6
(289,892)
(181,878)
7
(384,467)
(252,109)
2,615
375
Total funds brought forward |
(66,512)
(66,137)
Total funds carried forward |
(63,522)
(66,137)
5 of 14
8
South Shields FC Foundation Limited
Statement of Financial Position
2023
2022
7,199
28,170
13
7,199
28,170
44,288
36,725
14
Debtors
1,014
4,497
45,302
41,222
Creditors: amounts falling due within one year |
(91,781)
(106,362)
15
Net current assets
(46,479)
(65,140)
Total assets less current liabilities |
(39,280)
(36,970)
Creditors: amounts falling due after more than one year |
(24,242)
(29,167)
Net assets
(63,522)
(66,137)
Unrestricted income funds |
16
(63,522)
(66,137)
(63,522)
(66,137)
For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
The financial statements were approved and authorised for issue by the Board and signed on its behalf by: |
28 March 2024
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9
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements
The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘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 2015)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. South Shields FC Foundation Limited 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). |
The Trustees have assessed the financial viability of the Charity and have concluded that there is no reason why the Charity will not continue operating for at least 12 months following the year ending 30th June 2023 and 12 months following the approval of the financial statements. For this reason the financial accounts have been prepared on a going concern basis.It should be noted the the charity has the backing of 'South Shields Football Club 1888 LImited' whch is in partnership with the charity. |
Unrestricted funds are incoming resources receivable or generated for the furtherance of the objectives of the Charity without aspecified purpose and are available as general funds. Resources expended which meet these criteria are charged to the funds,together with a fair allocation of staff and support costs. Restricted funds are used for the specific purposes laid down by the donoror sponsor. Resources expended which meet these criteria are charged to the funds. |
The Charity is exempt from taxation on its charitable activities, as it is a registered charity. |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Debtors
Debtors are recognised at the settlement amount due after allowing for any discounts and as per the terms agreed. Prepaymentsare valued at the amounts prepaid for services and accrued income are valued at the amounts due per terms agreed and there iscertainty of receipt. |
The Charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as theybecome payable in accordance with the rules of the scheme. |
Income is recognised in the period when the charity has entitlement to the funds, any performance conditions attached to the |
income have been met, it is probable that the income will be received and that the amount can be measured reliably and is not |
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. |
Income comprises of funds received from parent donations, grants, sponsors, school income, activities days, donations, events |
and finders fees for academy student. |
The value of services provided by volunteers has not been included. |
Expenditure incurred is recognised in the period once there is a legal constructive obligation to make a payment to a third party. It |
is probable that settlement will be required and the amount of the obligation can be measured reliably. |
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10
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
Other accounting policies |
Cash at bank and in hand: |
Cash at bank and cash in hand includes bank balance kept in current and deposit accounts. |
Creditors and provisions: |
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably |
result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. |
Creditors and provision are normally recognised at their settlement amount after allowing for any discounts. |
Critical accounting estimates and judgements: |
There are no significant areas of judgement or key sources of estimation uncertainty arising from the preparation of accounts. |
2. Income from donations and legacies |
2022
2023
149,917
168,321
27,178
94,626
4,800
4,146
-
25,610
181,895
292,703
3. Income from charitable activities |
2022
2023
Football camps and Activities
34,274
42,912
Income from charitable activities
4. Income earned from other activities |
2022
2023
Fund raising events
16,917
27,105
760
-
-
33,000
Finders fees for academy students
17,677
60,105
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11
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
5. Expenditure on generating donations and legacies |
2022
2023
29,130
11,547
871
2,227
13,774
30,001
6. Expenditure on other trading activities |
2022
2023
40,230
80,801
Fund raising events
80,801
40,230
7. Costs of charitable activities by fund type |
2022
2023
6,793
-
Grant Income
158,264
277,963
Fundraising
16,821
11,929
Support costs
181,878
289,892
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12
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
8. Analysis of support costs |
2022
2023
Governance costs
Accountancy fees
3,668
6,359
Premises costs
1,164
11
Motor and travel expenses
1,913
1,874
Other finance costs
854
4,909
Bank loan interest
2,981
3,020
Interest on overdue tax
920
-
Printing
429
253
Advertising
-
395
11,929
16,821
9. Net income/(expenditure) for the year |
This is stated after charging/(crediting): |
2023
2022
Depreciation of owned fixed assets |
20,971
25,324
3,668
6,359
Staff pension contributions |
-
591
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13
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
10. Staff costs and emoluments |
Total staff costs for the year ended 30 June 2023 were: |
2023
2022
11,171
28,308
-
591
11,171
28,899
Other staff costs for 2023 which are treated as coaching costs are as follows: |
2023
2022
9
Total staff
11. Trustee remuneration and related party transactions |
There are no disclosable related party transactons in the 2023 financial year.
12. Comparative for the Statement of Financial Activities |
The comparative year values on the Statement of Financial Activites are for unrestricted funds. |
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14
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
13. Tangible fixed assets |
119,114
2,830
116,284
116,284
2,830
119,114
90,944
1,752
89,192
Charge for year
20,971
566
20,405
111,915
2,318
109,597
6,687
27,092
512
1,078
7,199
28,170
Depreciation on 'sports equipment and kit' |
It should be noted that that these costs relate to historic capitilisation of kit where the costs were depreciated over two seaons of |
use. It is now the charities policy to write off the entire cost of kits inline with the their allocation to team pots. For this reason the |
deprecation charge for depreciation on Kit and equipment in the 23/24 financial year is expected to be substancially lower. |
2023
2022
Amounts due within one year: |
21,215
11,370
Prepayments and accrued income |
240
-
22,833
25,355
44,288
36,725
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15
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
15. Creditors: amounts falling due within one year |
2023
2022
10,000
10,000
14,096
3,150
57,470
82,888
Accruals and deferred income |
10,215
10,324
91,781
106,362
General
(66,137)
387,082
(384,467)
(63,522)
General
(66,137)
387,082
(384,467)
(63,522)
Unrestricted Funds - Previous year |
General
(66,512)
252,484
(252,109)
(66,137)
General
(66,512)
252,484
(252,109)
(66,137)
Purpose of unrestricted Funds |
General
To fund the general objectives of the charity.
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16
For the year ended 30 June 2023
South Shields FC Foundation Limited
Notes to the Financial Statements Continued
Purpose of restricted funds |
Sponsorship
To fund specific areas of the charities general objectives.
17. Analysis of net assets between funds |
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
7,199
(46,479)
(24,242)
(63,522)
General
7,199
(46,479)
(24,242)
(63,522)
Net current |
assets / |
(liabilities) |
Net Assets
Unrestricted funds
General
28,170
(65,140)
(29,167)
(66,137)
General
28,170
(65,140)
(29,167)
(66,137)
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