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← Cymru Football Foundation Limited

2025-06-30-accounts

Charity registration number 1057856 (England and Wales)

Company registration number 03202751

CYMRU FOOTBALL FOUNDATION LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

CYMRU FOOTBALL FOUNDATION LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miss K M Davies
Mr L James
Mr W L Williams
Mrs H White
Mrs H K Buckley
Mr R A Williams
Mr W Lewis
Ms A Lewis
Charity number 1057856
Company number 03202751
Registered office Dragon Parc
National Football Development Centre
Newport International Sports Village
Newport
United Kingdom
NP19 4RA
Auditor UHY Hacker Young
Bradbury House
Mission Court
Newport
Gwent
United Kingdom
NP20 2DW

CYMRU FOOTBALL FOUNDATION LIMITED

CONTENTS

Page
Trustee's report 1 - 6
Statement of Trustee's responsibilities 7
Independent auditor's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 24

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their report and audited financial statements for the year ended 30 June 2025.

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 Foundation's governing document, the Companies Act 2006 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).

The Cymru Football Foundation (hereafter referred to as ''the Foundation'') is a charitable company limited by guarantee. It was incorporated on 23 May 1996, company number 3202751. It registered as a charity on 2 September 1996, registration number 1057856.

Objectives and activities

The objects of the Foundation are as follows:

The Foundation achieves these objectives by:

In 2025, the Foundation launched its new strategy with an ambition to put a quality football facility within 15 minutes of every community in Wales, giving priority to those who need them most whilst also committing to:

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Public Benefit

The Foundation (and formerly the "Trust") has complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission on public benefit. The Foundation believes that communities significantly benefit from having access to inspiring and high-quality spaces to be physically active through football and other sports or activities. It has been shown that participants develop teamwork, leadership, self-esteem, discipline and improvements in physical health through participation in football and team sports. By following the objectives of the Foundation and in particular by providing funds and support to enable the development and improvement of facilities across Wales, it will encourage more people regardless of ability, gender, or any disability to be physically active through football and other sports.

The Foundation's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Foundation continues and that the appropriate training is arranged. It is the policy of the Foundation that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Achievements and performance

Through the contribution of our funding partners – FAW, UK Government and Sport Wales, during the financial year the Foundation has supported the development of 115 facility projects across four programmes. The Foundation directly invested a total of £8.9m into these programmes, leveraging a further £9m in partnership funding towards supported projects.

Fit-for-future Facilities Programme

Grass pitch improvement programme

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Environments for Her programme

Inspired by the success of the Cymru Women’s National Team and qualification for their, the Foundation launched a programme to make off-field facilities safe, welcoming and inspiring for women and girls who participate in the grassroots game. Environments For Her provided grants of up to £50,000 to improve experiences of women and girls – focusing on internal, off-field refurbishments including:

Over 950k has been invested into 25 clubs, supporting 2335 current female players with improved changing facilities.

Stadia Improvement Programme

The Foundation launched a new programme to support facility developments across domestic stadia to improve player, fan and official experiences. The programme invested £379k to support 14 clubs to improve stadium facilities and experiences.

To date, the Foundation’s overall investment now includes:

Our investment has:

Strategic Report

The trustees include within this report the matters required to be dealt with within a strategic report and specifically set out such matters through to and inclusive of, the paragraph on Decision making .

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Financial review

The Foundation produced a total surplus for the year of £1,433,900 (2024: surplus of £1,030,834), split between an unrestricted surplus of £181,429 (2024: surplus of £172,712) and a restricted surplus of £1,252,471 (2024: surplus of £858,122). The surplus increased total reserves including fixed assets to £7,839,712 (2024: increased to £6,405,812) of which £5,746,405 (2024: £4,493,934) is restricted and 2,093,307 (2024: £1,911,878) is unrestricted.

The cash and short-term investments position has increased to £8,267,982 in the year, from £7,379,259 in the prior year, largely as a result of the advance receipt of a grant from the FAW which will be expended in future periods with the agreement of the funder.

It is the opinion of the directors that the Foundation should hold financial reserves in order to provide protection against its· financial risks

During the year under review, the following principal risks have been identified as reasons for the Foundation to hold reserves:

Reserves for this purpose are defined as unrestricted funds not invested in fixed assets.

The Trustees consider the Foundation should aim to hold at least a minimum level of funds not committed or invested in tangible fixed assets, so that the operational and contractual activities of the Foundation could continue in the event of a significant reduction in funding and allow time for consideration of how any such reduction in funding is addressed going forward.

Reserves Review

Taking into account the change in objects and funding of the Foundation, the reserves policy has been reviewed through the Finance & Risk Management sub-group and approved by the Board of Trustees. The review considered the current and future financial forecasts and an assessment of its current and future risks and uncertainties. The new reserves policy determines that the Foundation’s reserves will be a minimum of 12 months operational costs. Due to the Foundation being relatively new, the profile of the longer-term funding still uncertain and the long-term nature of capital projects to complete, it was identified that this level was appropriate to ensure the contractual activities of the Foundation could continue in the event of a significant reduction in funding. The reserves policy was reviewed in June 2025.

Principal funding sources

The principal funding sources of the Foundation during the year were grants from the Football Association of Wales Limited (FAW) which included funding directly from the FAW and funding received via the FAW from UK Government (UKG) and Premier League (PL).

Investment policy and objectives

The Foundation takes a low-risk approach to investment of spare cash, which is normally invested in fixed rate bonds. CFF introduced an Investment Policy in October 2023. During the financial year, spare funds were invested in short-term money market deposits at a fixed rate. Since the year end annual budgets were confirmed, spare cash has been invested in a high interest deposit account.

Risk management

The Trustees have a duty to identify and review the risks to which the Foundation is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Board of Trustees are aware of potential internal and external risks faced by the Foundation. The organisation conducts a risk management exercise quarterly and has successfully completed all recommendations from external audit reports.

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Risk management (continued)

The Foundation has developed a Risk Management Strategy which facilitates the effective recognition and management of risks. During the financial year, the Foundation adopted a new Risk Management system to record, monitor and present organisational risks.

The Foundation has a Finance & Risk sub-committee which has the risk management register as a standing item on each agenda.

Future developments

As the Foundation enters its fourth year of operation, it has identified three priorities during the next financial year (2025/ 26):

The priorities for the Cymru Football Foundation are:

Structure, governance and management

The Foundation was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. Under those Articles, the members of the Council of Management are Trustees within the definition of section 97 of the Charities Act 1993 and shall be referred to as Trustees in these financial statements. Trustees serve a four-year term and may stand for reelection for a further two such terms, so that a Trustee may hold office for a maximum period of twelve years.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

Miss K M Davies Mr L James Mr W L Williams Mrs H White Mrs H K Buckley Mr R A Williams Mr W Lewis Ms A Lewis

CYMRU FOOTBALL FOUNDATION LIMITED

TRUSTEE'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Recruitment and appointment of Trustees

The Board of Trustees comprises eight members. The Articles of Association allow for the Football Association of Wales Limited ("FAW") to nominate four members. The remaining four will at the appropriate juncture be independently recruited through open advertisement.

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Induction and training of Trustees

Trustees receive an Induction Handbook on their appointment to the Board. This explains their role and responsibilities and accountability under company law. The Board convenes workshops to review its governance practices and to enhance expertise and skills required for the Trustee role.

The Foundation is managed and controlled by the Trustees (Council of Management) who meet between four to six times per year. Sub Committees with delegated responsibility oversee certain aspects of the Council of Management's work.

Decision making

The Board of Trustees are responsible for the strategic direction of the Foundation and the approval of the strategic plan. The Trustee board will normally make decisions relating to strategy and resource allocation in the form of approval of budgets. The Board delegates authority to the Foundation Director to carry out the strategic plan. The Foundation Director is supported by the Head of Operations who are considered to be the key management personnel of the foundation.

Remuneration policy for key management personnel

The Trustees recognise that the Foundation will not achieve its ambitious goals unless it is possible to attract and retain key management personnel who have the experience, enthusiasm and ability to lead by example and to contribute to the Foundation's continuing success. Consequently, the ability to offer a compelling value proposition to staff is regarded as a critical success factor.

In common with other companies in the charitable sector, the Foundation's value proposition to staff includes supportive teamwork, personal development and significant job satisfaction from the social impact that the Foundation is helping to generate. However, remuneration is also important, and for this element of the overall reward package, our policy is to set pay and benefits at levels that are competitive for the sector and which recognise an individual's abilities, responsibilities and experience. In most cases, in the opinion of the Trustees, this results in remuneration that is lower than the people concerned would be able to earn in the commercial sector. The remuneration of key management personnel is summarised in Note 10 of the financial statements.

The Trustee's report was approved by the Board of Trustees.

.............................. Ab \~— Miss K M Davies Trustee Date: .............................................24 / 03 / 2026

CYMRU FOOTBALL FOUNDATION LIMITED

STATEMENT OF TRUSTEE'S RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2025

The Trustees, who are also the directors of Cymru Football Foundation Limited for the purpose of company law, are responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the Foundation's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

CYMRU FOOTBALL FOUNDATION LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CYMRU FOOTBALL FOUNDATION LIMITED

Opinion

We have audited the financial statements of Cymru Football Foundation Limited (the ‘Foundation’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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:

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 Foundation in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's 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 Foundation’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 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:

CYMRU FOOTBALL FOUNDATION LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CYMRU FOOTBALL FOUNDATION LIMITED

Responsibilities of Trustees

As explained more fully in the statement of Trustee's responsibilities, the Trustees, who are also the directors of the Foundation for the purpose of company law, 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 Foundation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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.

Mr John Griffiths (Senior Statutory Auditor) for and on behalf of UHY Hacker Young

24 / 03 / 2026.........................

Newport Gwent Chartered Accountants Statutory Auditor

UHY Hacker Young is eligible for appointment as auditor of the Foundation by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

CYMRU FOOTBALL FOUNDATION LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
-
8,423,648
Investments
4
349,633
-
Total income
349,633
8,423,648
Expenditure on:
Charitable activities
Grants
5
168,203
7,171,177
Other
5
-
-
Total charitable
expenditure
168,203
7,171,177
Total expenditure
168,203
7,171,177
Net gains/(losses) on
investments
9
(1)
-
Net income and movement in
funds
181,429
1,252,471
Reconciliation of funds:
Fund balances at 1 July 2024
1,911,878
4,493,934
Fund balances at 30 June 2025
2,093,307
5,746,405		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
8,423,648
-
8,940,668
349,633
288,449
-
8,773,281
288,449
8,940,668
7,339,380
-
8,082,546
-
115,737
-
7,339,380
115,737
8,082,546
7,339,380
115,737
8,082,546
(1)
-
-
1,433,900
172,712
858,122
6,405,812
1,739,166
3,635,812
7,839,712
1,911,878
4,493,934		 Total
2024
£
8,940,668
288,449
9,229,117
8,082,546
115,737
8,198,283
8,198,283
-
1,030,834
5,374,978
6,405,812

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

CYMRU FOOTBALL FOUNDATION LIMITED

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 10 7,121 5,135
Investments 11 - 1
7,121 5,136
Current assets
Debtors 13 5,091,758 6,432,868
Cash at bank and in hand 8,267,982 7,379,259
13,359,740 13,812,127
Creditors: amounts falling due within one
year 14 (5,527,149) (7,411,451)
Net current assets 7,832,591 6,400,676
Total assets less current liabilities 7,839,712 6,405,812
Income funds
Restricted funds 17 5,746,405 4,493,934
Unrestricted funds 2,093,307 1,911,878
7,839,712 6,405,812

The financial statements were approved by the Trustees on .........................24 / 03 / 2026

.............................. Ab \~— Miss K M Davies Trustee

Company registration number 03202751

CYMRU FOOTBALL FOUNDATION LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2025

Notes
Cash flows from operating activities
Cash generated from operations
22
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(4,467)
349,633		 £
543,557
345,166
-
888,723
7,379,259
8,267,982		 2024
£
(3,598)
288,449		 £
1,475,190
284,851
-
1,760,041
5,619,218
7,379,259

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

Cymru Football Foundation Limited (formerly FAW Football In The Community Limited) is a private company limited by guarantee incorporated in England and Wales. The registered office is Dragon Parc, National Football Development Centre, Newport International Sports Village, Newport, NP19 4RA, United Kingdom.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Foundation's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Foundation is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

As mentioned in the Trustees Annual Report, the activities of the new Foundation are being supported by its principal funder, the Football Association of Wales (FAW). A new funding agreement with the FAW has been signed which covers the period up to June 2028, with the added assurance of a further two years of operational funding. On this basis, the Trustees are content that the new Foundation has adequate resources with which to continue its operational existence for the foreseeable future.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors or grantors 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.

1.4 Income

Income is recognised when the Foundation 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 Foundation 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.

On receipt, donated facilities are recognised on the basis of the value of the gift to the Foundation which is the amount the Foundation would have been willing to pay to obtain services and facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Income from government and other grants, whether 'capital' or 'revenue' grants, is recognised when the Foundation has entitlement to the funds, any performance conditions attached to the grant are met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

In respect of income from UK Government DCMS grassroots facilities fund, as the drawdown of funds can often be retrospective, where grants have been awarded and satisfy the terms of conditions of grant, income is recognised and accrued on the basis of entitlement in order to match the related grant award and liability to the applicant.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

Support costs are those functions that assist the work of the Foundation but do not directly undertake charitable activities. The costs have been allocated against expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 7.

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:

Fixtures and fittings

25% on cost and 25% on reducing balance

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 net income/(expenditure) for the period.

1.7 Fixed asset investments

A subsidiary is an entity controlled by the Foundation. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

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.

1.9 Current Asset Investments

The Foundation classifies short term deposits of between 3 months and 1 year as current investments and includes such deposits at the value when the deposit was made. At the balance sheet date, the average maturity of the deposits was 6 months.

1.10 Financial instruments

The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Foundation's balance sheet when the Foundation becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.11 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 Foundation is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the Foundation’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 Income from donations and legacies

Restricted Restricted
funds funds
2025 2024
£ £
Grants 8,423,648 8,940,668
Grants
FAW Gramts 1,529,250 915,000
UK Government DCMS Grassroots Facilities Funding 5,761,898 7,931,626
Sport Wales Sustainability Funding - 26,542
Premier League Funding 1,132,500 67,500
8,423,648 8,940,668

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

4 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 349,633 288,449

5 Charitable activities

Staff costs
Direct programme costs
Staff expenses
Legal and professional
Grants awarded
Share of support costs (see note 6)
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
Restricted funds		 Grants
2025
£
196,152
-
3,174
69,387
6,638,020
6,906,733
395,629
37,018
7,339,380
168,203
7,171,177
7,339,380		 Grants
2024
£
151,259
-
3,705
31,680
7,620,047
7,806,691
265,396
10,459
8,082,546
-
8,082,546
8,082,546		 Other
Total
Year ended
2024
30 June 2024
£
£
-
151,259
3,039
3,039
-
3,705
-
31,680
-
7,620,047
3,039
7,809,730
112,698
378,094
-
10,459
115,737
8,198,283
115,737
115,737
-
8,082,546
115,737
8,198,283		 Other
Total
Year ended
2024
30 June 2024
£
£
-
151,259
3,039
3,039
-
3,705
-
31,680
-
7,620,047
3,039
7,809,730
112,698
378,094
-
10,459
115,737
8,198,283
115,737
115,737
-
8,082,546
115,737
8,198,283
7,809,730
378,094
10,459
8,198,283
115,737
8,082,546
8,198,283

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

6 Support costs

Support costs
Year ended Year ended
**Support costs ** Governance **30 June 2025Support costs ** Governance 30 June 2024 Basis of allocation
costs costs
£ £ £ £ £ £
Operating lease charges - - - 100,000 - 100,000 Per Capita
Staff costs 224,052 - 224,052 186,153 - 186,153 Per Capita
Office Costs 28,481 - 28,481 18,544 - 18,544 Per Capita
Advertising and Promotion 87,805 - 87,805 29,618 - 29,618 Per Capita
Other Costs 22,996 - 22,996 15,800 - 15,800 Per Capita
Legal and professional 29,813 - 29,813 13,196 - 13,196 Per Capita
Depreciation 2,481 - 2,481 2,085 - 2,085 Per Capita
Audit fees - 9,500 9,500 - 9,500 9,500 Governance
Accountancy - 9,002 9,002 - 6,408 6,408 Governance
Legal and professional - 12,000 12,000 - 3,039 3,039 Governance
Trustees Costs - 6,516 6,516 - 7,249 7,249 Governance
395,628 37,018 432,646 365,396 26,196 391,592

Governance costs includes payments to the auditors of £9,500 excluding VAT (2024- £9,500) for audit fees.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

7 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year 5 (2024: 4) of the Trustees were reimbursed expenses totaling £2,716 (2024: £3,301) relating to travelling expenses.

8 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
8 6
Employment costs 2025 2024
£ £
Wages and salaries 317,301 247,241
Social security costs 32,033 38,278
Other pension costs 38,116 28,926
387,450 314,445
The number of employees whose annual remuneration was more than £60,000 is
as follows:
2025 2024
Number Number
£60,001 - £70,000 1 -
£70,001 - £80,000 - 1
£80,001 - £90,000 1 -
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 148,789 138,421
9 Gains and losses on investments
Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Sale of investments (1) -

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

10 Tangible fixed assets
Fixtures and
fittings
£
Cost
At 1 July 2024 7,431
Additions 4,467
At 30 June 2025 11,898
Depreciation and impairment
At 1 July 2024 2,296
Depreciation charged in the year 2,481
At 30 June 2025 4,777
Carrying amount
At 30 June 2025 7,121
At 30 June 2024 5,135
11 Fixed asset investments
Other
investments
£
Cost or valuation
At 1 July 2024 1
Disposals (1)
At 30 June 2025 -
Carrying amount
At 30 June 2025 -
At 30 June 2024 1
2025 2024
Other investments comprise: Notes £ £
Investments in subsidiaries 12 - 1

12 Subsidiaries

These financial statements are separate Foundation financial statements for Cymru Football Foundation Limited.

The Foundation's 100% owned subsidiary at 30 June 2024 was Parc Y Ddraig Limited. Parc Y Ddraig was dissolved during the current year 12 November 2024.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

13
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 2025
£
637,614
4,454,144
5,091,758		 2024
£
-
6,432,868
6,432,868

14 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2025
£
5,410,244
-
116,905
5,527,149		 2024
£
7,363,688
132
47,631
7,411,451

15 Retirement benefit schemes

Defined contribution schemes

The Foundation operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Foundation in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £28.181 (2024: £28,926).

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 July 2024
£
1,911,878
July 2023
£
1,739,166		 Incoming
resources
Resources
expended
Gains and
losses
At 30 June
2025
£
£
£
£
349,633
(168,203)
(1)
2,093,307
Incoming
resources
Resources
expended
Gains and
losses
At 30 June
2024
£
£
£
£
288,449
(115,737)
-
1,911,878

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 July 2023
£
FAW Facilities Reserve Fund
492,942
FAW Facilities Fund
3,056,942
UK Government DCMS Grassroots Facilities
Fund 22/23
15,181
UK Government DCMS Grassroots Facilities
Fund 23/24
-
UK Government DCMS Grassroots Facilities
Fund 24/25
-
UK Government DCMS Grassroots Facilities
Fund 25/26
-
UK Government/FAW Resource Funding
-
Sport Wales Sustainability
70,747
FAW U19 Euro 26 Funding
-
Premier League Funding
-
3,635,812		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
(16,860)
915,000
-
-
-
1,206,323
(1,351,238)
5,613,965
(5,469,050)
648,838
(648,838)
462,500
(462,500)
26,542
(66,560)
-
-
67,500
(67,500)
8,940,668
(8,082,546)		 Transfers
Balance at
1 July 2024
£
£
-
476,082
-
3,971,942
-
15,181
144,915
-
(144,915)
-
-
-
-
-
-
30,729
-
-
-
-
-
4,493,934		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
(178,401)
-
(70,500)
-
-
-
(53,638)
1,779,133
(2,539,316)
3,723,765
(2,993,764)
459,000
(459,000)
-
-
1,329,250
(497,247)
1,132,500
(379,311)
8,423,648
(7,171,177)		 Transfers
Balance at
30 June 2025
£
£
(74,600)
223,081
(915,000)
2,986,442
(15,181)
-
53,638
-
766,144
5,961
(730,001)
-
-
-
-
30,729
915,000
1,747,003
-
753,189
-
5,746,405		 Transfers
Balance at
30 June 2025
£
£
(74,600)
223,081
(915,000)
2,986,442
(15,181)
-
53,638
-
766,144
5,961
(730,001)
-
-
-
-
30,729
915,000
1,747,003
-
753,189
-
5,746,405
5,746,405

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

17 Restricted funds

(Continued)

Purpose of Restricted Funds

FAW Facilities Reserve Fund

In the final year before the activities of Foundation changed, in anticipation of the change, the FAW provided funding which is restricted to grassroots facilities projects in Wales. It therefore formed part of the Trust’s restricted reserves when the transfer took place. This fund was carried over into the new activities of the Foundation.

FAW Facilities Fund

The FAW, as a principal funding partner, has provided funding to invest in football facilities throughout Wales.

UK Government DCMS Grassroots Facilities Fund

The UK Government, through the Department of Culture, Media and Sport (DCMS) have provided the Foundation with funding to invest in grassroots multi-sport facilities throughout Wales. The funding is provided over a three year period until 2026.

UK Government/FAW Resource Fund

The UK Government, through the Department of Culture, Media and Sport (DCMS) also provides resources funding in order to manage and administer the Grassroots Facilities Fund in Wales. As with the Facilities Fund, the funding is provided over a three year period until 2027.

Sport Wales Sustainability Fund

Due to the potentially adverse impact of the climate on facilities in Wales, Sport Wales have provided a fund which will enable facilities to withstand adverse conditions and become more sustainable, thereby protecting participation levels and the health of the nation.

Premier League Funding

The Premier League has provided the Foundation with funding to invest in community and domestic stadium facilities throughout Wales. Following the renewal of the previous agreement, funding will now be provided over a four-year period from 2025 to 2029.

FAW U19 Euro 26 Funding

The FAW has provided funding to support the development of match and training venues that will be used for the U19 Men’s Euro 26 tournament in club facilities across North Wales.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

18
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2025
2025
£
£
Fund balances at 30
June 2025 are
represented by:
Tangible assets
7,121
-
Investments
-
-
Current assets/(liabilities)
7,832,591
-
7,839,712
-		 Total Unrestricted
funds
Restricted
funds
2025
2024
2024
£
£
£
7,121
5,135
-
-
1
-
7,832,591
1,906,742
4,493,934
7,839,712
1,911,878
4,493,934		 Total
2024
£
5,135
1
6,400,676
6,405,812

19 Events after the reporting date

Post year end a Novation Agreement between Cymru Football Foundation Limited, FAW Limited and Welsh Grounds Improvements Limited (WGI) was signed. This agreement resulted in the Foundation taking on all of the liabilities and contracts of WGI as at the date of signing (07/07/2025). Welsh grounds Improvements has subsequently been wound up and the Foundation has notified clubs of the new arrangement. Funding is to be received from the FAW Limited in this regard under the previous arrangement between them and WGI.

20 Related party transactions

None of the Trustees are part of the key management personnel of The Football Association of Wales Limited in the current or prior year. Included in these financial statements are grants receivable from The Football Association of Wales Limited of £1,461,750 (2024: £915,000). At the year end an amount of £630,000 (2024: £nil) was owed to the Foundation and is included in debtors falling due within one year.

One Trustees is part of the key management personnel of FAW Football Development Centre Limited (2024: one). Included in these financial statements are donations receivable from the FAW Football Development Centre Limited of £nil (2024: £85,000 and rent payable to the FAW Football Development Centre Limited of £nil (2024: £100,000). At the year end there were amounts due to the Foundation of £nil (2024: £nil) in Other Debtors; these are included in debtors amounts falling due within one year. The trade creditor balance due to FAW Football Development Centre Limited at the year end was £nil (2024: £132) and is included within creditors falling due within one year.

21 Company Limited by Guarantee

The company is limited by guarantee and at the year end there were 8 members. Every member of the Foundation undertakes to contribute a maximum of £1 in the event of the company being wound up.

CYMRU FOOTBALL FOUNDATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

22 Cash generated from operations 2025 2024
£ £
Surplus for the year 1,433,900 1,030,834
Adjustments for:
Investment income recognised in statement of financial activities (349,633) (288,449)
Loss on disposal of investments 1 -
Depreciation and impairment of tangible fixed assets 2,481 2,085
Movements in working capital:
Decrease/(increase) in debtors 1,341,110 (2,746,520)
(Decrease)/increase in creditors (1,884,302) 3,477,240
Cash generated from operations 543,557 1,475,190