Mlddlesbrough Football Club Foundatlon (Llmlted by Guarantee) Annual Report and Flnanclal Statements for the Year Ended 31 August 2024 "Reglstrar of Companles Copl. Reglstered Number. 03142447 IIIIII1 *AE24FVQKI' OW0512025 COMPANIES HOUSE A12
251
ANDERSON BARROWCLIFF LIMITED Chartered Accountants
lesbrou ball Club F Guarant Limi tatem nt coun Page Report of the Trustees Report of the Independent Auditors 12-14 Statement of Financial Activities Balance Sheet 16 Statement of Cash Flows 17 Notes to the Accounts 18-28
sbr oot b Foun atlon an r the Year 31A 24 The Trustees submlt their report and the audited financial statements of Middlesbrough Football Club Foundation (the Foundation? for the year ended 31 August 2024. The Trustees have adopted the provisions of the Statement of Recommended Prattice {SORPI 'Accounting and Reporting by Charities" IFRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charitys governing document, the Chartties Att 2011 and Accounting and Reporting by Charities: Statement of Recommended Praccice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. The Direttors of the Foundation are its Trustees for the purposes of charlty law. The Trustees who have served during the year and since the year end are shown on page 8. OBJECTIVE5 AND ACTIVITIES The Board of Directors decide the strategic direttion of the Foundation and the day to day decislons are made by the Senior Management of the Foundatlon. The Foundatlon's main aim5 are., To encourage and advance the education of children and adults within the community with the purpose of promoting a healthy lifestyle and improving thelr condition of life. To promote community involvement In healthy recreation by providlng facllltles for the playing of football and other sports capable of improving physical health to such persons who have need for such improvement and to encourage and advance the education of such persons in order to allow them to develop to the best of their abilitles, both physlcalty and otherwise. ACHIEVEMENT AND PERFORMANCE Throughout the year ending 31 st August 2024, The Foundation delivered a refreshed 2019-24 strategy to Inspire Confidence and Inspire Hope. Delivery focused on the four themes of Education and Employabllity, Social Inclusion and Community Cohesion, Health an(J Wellbeing and Sports and Physical Aaivity, Programme delivery remained consistent providing a wide range of activities across multiple locations in both schools and community. In April 2024, The Foundation launched the Premier League Kicks 19+. The project is In collaboration wlth the Cleveland Violence Reduction Unit ICURV). Aimed at engaging 19-plu5 participants. The project was based on CURV5 data on crime rates in Tees Valley and The Foundation's expertise in supporting participants transitioning from Premier League Kicks. Two pilot locations were selected.. Stockton, aligned with CURV'S prioritie5 and East Cleveland, Both areas are within Tees Valley and face high unemployrnent, In December 2024The Foundation launched the Premier League Fans Fund. The Premier League Fans Fund supports football clubs to strengthen connections between them. their fans. and local communities. The fund supports a range of fan-focused and fan-led projects, helping to foster a sense of belonging through tneaningful engagement. This Includes schemes for under.represented groups, to furtherdevelop an inclusive and welcoming matchday experience for everyone. Premier League funding supports projetts that respond to local need, and which aim to improve the match dayenvironment forfans andlor residents. address fan behaviour, and communty impart such a5 the cost-of- living crisis, build upon a c5ub's heritage and engage and support underrepresented fan groups (disability. ethnicity. LGBTQ+, women and girls), and fan behaviour. In March 2024 The Foundation launched rhe National Citizen Service INCSI. NCS is aimed at young people aged 16-17 in the Tees Valley area, covering Middlesbrough, Redcar and Cleveland, Stockton, Hartlepool and Darlington. The "open to all" experiences encompass a 48-hour programme. segregated into three skill settions: life skills, employability skills and social action. Develop life skills and support independent living, Build employability and work- readiness, Provide opportunities for volunteering and social action, Enable social mixing of young people from all backgrounds. Page 1
oundatio ar Acom rth YearE ACHIEVEMENT AND PERFORWNCE- contlnued In July 2024 The Foundation teamed up with the English Football League and Kellogg's to provide free holiday camp sessions at the Herlingshaw and Brotton in East Cleveland. The holiday camps offer children aged 5-14 years old additional football and multi-sports sessions. whilst offering support to parents during the school holidays. It is an excellent opportunity for participants to learn and develop new skills while having fun during the school breaks. The fundraising and events programme for the Foundation continLied to grow and deliver our most JucceJsfiJl year yet, with the continuation of our key events of The Foundation Dinner and Fizz Friday. but with the expansion of more mass participation evenrs such as the Roatys Big Week and Middlesbrough College Football Tournament. Our corporate Friends of the Foundation also continued to grow. with over 40 businesses now supporting The Foundation. Our work at the Herllngshaw Centre, South Bank, contlnued to be a central focus forThe Foundation, with the Centre having one of its strongest years to date with delivery. Not only were we able to deliver a wide range of Foundation programmes there including Premier League Kicks, targeted youth mentoring, Football Welcomes, Think with Your Feet and employabllltySUPPOrt, the Centre provlded much sought afteractivities forthe communityincluding Birthday Parties. Roarfs Academy. Holiday Camps and Tournaments. The Centre and The Foundation were the hosts of the PL Disability event, teams from 18 Foundations and CCOS representing clubs from across the north of England came together to take part taking part in competiiive matches as well as numerous activities and workshops. The year was rounded off by the start of a strategic and governance review. The objective of which is to relaunch The Foundation's strategy for 2024 through to 2028. Delivery of programmes continued under four themes: The Foundatlon's Education and Employabillty arm dellvers educatlonal and employablllty programmes which a551st young people and adult5 Wlth obtaining new skills. knowledge, qualifications and employment. l. Premler League Prlmary Stars is a flagship project, funded by the Premier League Charitable Fund, supporting the Premier League's agenda of delivering sport and education projects to every primary school in the UK. During 2023124, 22 partner schools engaged with Premier League Primary Stars providing 16,456 young people of whlch were 7,638 were girls. 2. Premler League In5pire5. Virtual Schools and Raise Your Game deliver education activities to disadvantaged young people. with an aim of bullding self-esteem and confidence. Premler League Inspires was delivered in 14 secondary schools during 2023124 whilst Raise Your Game was funded by British Land and delivered to one local secondary school. Virtual Schools is a programme that runs in partnership with Redcar and Cleveland Council. The rhree programmes supported 467 young people providing 845 hours of educational activities for these young people. 3. Joy of Movlng Is a six-week programme engaging 9-11-year-olds in physical actniity and health education through a six-week programme featuring PE lessons and healthy living workshops, culminating in a Joy of Moving Festival. Funded by EFL in the Community, over 900 young people engaged frorn 20 schools in physical activlty and health education sessions through the programme In 2023124. 4. Coach Core Apprentlceshlp Scheme. The Foundation employed two apprentices on the Coach Core scheme for a 15-month period. All apprentices will work across the full range of programmes delivered by The Foundation. 5. Brlght Llghts. Working wlth Teesside Park we have a retail and hospttalty programme where young people aged between 18 and 24 will engage to improve their employability skills and undertake a two-week work placement with an employer. The Bright Lights programme has helped 19 young people into employment. Page 2
dle brou Foot Ited ci un te Guar ees ded 31 Au ar 02 ACHIEVEMENT AND PERFORMANCE- continued The Foundation summer and winter event took place on 2 August 2023 and 5 January 2024, at The Foundations, Herlingshaw Centre. These events bring together members of our community to celebrate, connett. and enjoy a day filled with fun and engaging activities. The aim is to provide a celebration day for the local community and support Families in the Tees area. The Foundation aims to prowde sportand physical activrtyopportunitie5 foryoung people and adultsthrough delivery in schools and communlty venues. During the year, The Foundation provided the following actrvities.. 1. Roarys Academyisa football development school forchildren aged between 2 & 7 years old. These sessions aim to enhance participants. self-confidence, encourage teamwork and develop motor skills through struttured sessions. In 2024 Roaty5 Academy was awarded a Prograrnme Of The Year Award at The Foundation's Annual Oinner. Roatys Academy combines football coaching with educational sessions to promote physical activlty. teamworl and social interattion. During 2023124. 94 children and thelr families engaged with Roarls Academy displaying improved social interattion skills, fostering a sense of belonging and teamwork within their groups. 2. Hollday Camps Includlng Kellogg's were arranged during every school holiday at the Herlingshaw Centre and in East Cleveland, the camps offering children aged 5-14 years old additlonal football and mulri-sports sesslons, whilst offering support to parents during the school holidays. It Is an excellent opportunity for participants to learn and develop new skills while having fun during the school breaks. Over 150 children enjoyed football, dance, and multi-5POrts during 2023124. 3. Tournaments areooanised throughout the year for U7-U12 age groupssupportinglocal grassroots football clubs. Over the year over 500 teams took par( in eight tournament days, The theme of Health and Wellbeln8 seeks to improve the health ancl wellbeing of our local communities through attivities which promote heakhier lifestyles. Those key artivities include.. 1. Match Flt is a programme aimed at engaglng men and women In regular physical attlvity. with the alm of losing and sustaining weight loss. Funded by Premier League Charitable Fans Fund, the programme Is delivered at the Rwerside Stadium and In East Cleveland providing a 12-week course three times per year, consistlng of a 45-minute circuii class and educatlonal workshops on healthy living. 169 individuals took part in the programme throughout the year with 64% of participants being women, a significant increase on the previous year. 2. Mental Health Support is funded by Middlesbrough Football Club sponsor Kindred and East Cleveland funding. Think With Your Feer. Team Talk and Kitchen Therapy are weekly sessions for adults suffering from poor mental health and in need of support for their wellbeing. The session5 include football, peer mentoring and cooking5UPPOrted by Mind. The programme has engaged 125 participants referred from Mind, recovery centres. local authorities. job centres and self-referrals. 3. In Your Strfde (Walking Football) In Your Stride walking football programme was initiated to engage inattive individuals living in some of the most deprived wards in the UK. The programme aims to promote physical activity. enhance mental wellbeing and foster community engagement through walking football. In 2023124 139 adults took part in walking football. of which 34% of participants were aged 66 years or older. Page 3
dlesbr Club F un stee ACHIEVEMENT AND PERFORIWANCE - contlnued Agelng Well has focused on two key tsrget groups, care homes and those living with dementia across Tees Valley. The twice monthly tea dances remain popular with attendances regularty over 40 at each event. These dances are attended bypeople living in the communitywith a dementia diagnosis. The Foundation workwith Senses Wellbeing Centre and Dementia Action Teesside to facilitate these events. The Ageing Well programme has engaged with 332 particlpants wlth 33 of those through care home visits. 5. Health Bus was brought into serviceto help combat health and education difficulties in areas of deprivation. Ir quickly developed into a learning facility that was used throughout the region, often supplementing work done within classrooms. It is not mainly used for health checks going to local businesses and local community centres to provide cholesterol tests with the aim being to uncover any underlying health conditions and help recognize the risk of future cardiovascular disease. 6. Fans Fund. In December2024 The Foundation launched the Premler League Fans Fund. The Premier League Fans Fund supports football clubs to strengthenconnections betweenthem, their fans. and local communitles. The fund supports a range of fan-focused and fan-led projects. helping to foster a sense of belonging through MeanInUl engagement. The PL Fan's Fund has allowed the Foundation to develop, enhance and sustain our Age Well and Move Well programmes. These include and not exclusive to our Dementia dances (inclusion) and matchFit (fitness programmel, aligning our aims to improve physical literacy and Improve community coheslon, whilst challenging health inequality and combatting cardiovascular disease. The programme Is Fan focused, and Fan led. The funding has allowed the Foundation to engage Fan groups and build schemes for underrepresented group5. Specific projerts include creating Inclusive match day experiences, allowing families to experience matches where they may not have the means to do so. The theme of Social Inclusion and Community Cohesion uses the power of Middlesbrough Football Club, through football, sport and youth work, to iinite and empower communities, inJpirin8 and enhancing skills ofyuui)g people and adults, partlcularly those within soclally deprlved wards. During the year The Foundatlon delivered the followlng programmes under the Inclusion and Communlty Cohesion theme: 1. Premler League Klcks is delivered wlthin the most deprived communities and provides dlversionary and construct6ve activities such as football, boxing, personal development opportunities and educational workshops on eveningsto reduce crime and antl-50cial behaviourand improve life skills. Funded bythe PLCF and the Office of Police and Crime Commissioner for Cleveland {Cleveland PCC), Premier League Kicks continued to engage 2,069 youn8 people in 2023124, of which 18% were girls. 2. Premler League Kick5 Targeted supports young people referred from Middlesbrough Council's Vulnerable. Exploited, Missing, Trafficked Practitioners Group IVEMTI project to improve their wellbeing build trusted relationships and reduce their involvement or likellhood to be involved in youth vlolence through one-to-one mentoring and group work. During 2023124, the delivery of PL Kicks Targeted was transitioned into PL Kicks to provide a pathway of sUPPOrt. The programme supported 24 medium-high risk young people with some participants transitioning into mainstream PL Kicks and other Foundation activities. 3. Youth Thlnkwith Your Feet programme is designed to provide ongoingsupport to young people who have completed targeted programmes orthose identified through our Kicks sessions as needing a more tailored approach due to behavioural challenges or additional support needs. The programme offers a Safe. supportive environment for these young people to continue their engagement with our services. The programme supports 104 participants with 80 of those in East Cleveland. Page 4
dlesb LL Trus Re ACHIEVEMENT AND PERFORMANCE - continued 4. PL Kicks 19+ - In April 2024, The Foundation launched the Premier League Kicks+ (PL Klck5+) 19-24 project in collaboration with the Cleveland Violence Redurtion Unit (CURV). Aimed at engaging 19-plus. the projert was based on CURWS data on crime rates in Teesvalley andThe Foundation's expertise in sUPPOrting participants transitioning from Premier League Kicks. Two pilot locations were selected.. Stockton, aligned with CURV'S priorities and East Cleveland. Both areas within Tees Valley face high unemployment offer distintt demographics, providingvaluable insights into future interventions with this agegroup. The programme has supported 49 participants with 77% minority ethnlc, 5. Chances is a programme funded by four local authorities, Middlesbrough. Redcar and Cleveland. Stockton and Hartlepool, and Cleveland PCC- Foundation Youth Workers. It uses the power of the football club and positive artivltyto support young people to improve their lives through improving school attendance, moving into education, employment or training andlor reducing offending behaviour. In 2023124 the programme supported 120young people wlrh 64 improving school or pupil referral unit attendance. Programme funding ended 2024. 6. Swltch It is funded by Middlesbrough Council. the programme involves The Foundatlon's Youth Workers supporting young people transitioning across various stages in their lives, including Primary to Secondary school. Secondary school to Employment, young people moving between schoo15, or those new to the region. During 2023124, Switch It supported 127 young people across 6 secondary schools In partnership wlth Middlesbrough Council's Earty Help Team. 7. Actlve Through Football Is a programme awarded by the Football Foundatlon working wlth the local communities ofNewport and Norrh Ormesbyto providefootball and physical activty opportunities, breaking down barriers to physical activity and embedding lifelong behaviour change. 671 adults engaged in Attive Through Football with 53% coming from ethnic mlnorities. Herllngshaw Centre The Herling5haw Centre is a sports facllity in South BanK owned by Redcar and Cleveland Borough Council but managed by The Foundation. The Centre's facilities include an indoor 7-a-side 3rd Generation Artificial Grass Pitch, an outdoor full.size 3rd Generation Artificial Grass Pitch, three outdoor grass pitches, together with function rooms and classrooms. All these facilities are available for hire by the public but are also used by The Foundation for delivery of its programmes. The Herlingshaw Centre is utilised by a variety of Foundation programmes Including Premier League Klcks, targeted youth mentoring, Football Welcomes. Premier League Primary Stars, Premier League Inspires, Think with Your FeeL Employability programmes and Walking Football. The Herlingshaw Centre is also used by external parties and organisations including Normanby FC, Redcar Town FC, Middlesbrough Girls FC and Middlesbrough FC. along with a wide range of other local 8ras5roots football clubs. Throughout 2023124, the Her1ingshaw Centre was able to achieve one of its Strongest years to date. with over 117,000 engagements across the year over the ¥Mde variety of attivities delivered. The football facilities were fulty utilised on evenings and weekend5, Wlth further interest for the wider facilities during weekdays. The Centre was fully booked every weekend for the unique Birthday Parties on offer, as well as high demand for RoaWsAcademy. Holiday Camps and Walking Football. In 2023124, The Foundation delivered 58 parties to nearly 825 children. The Foundation are scheduled to leave the Herlingshaw on the 31 December 2025. Page 5
Mld esbrou all Clu Guaran Liml ACHIEVEMENT AND PERFORMANCE- contlnued Other Fundfalslng artlvities and Events Throughout 2023124 the Foundation delivered several large-scale events as well as launching communffy mass participation events. The Foundation Dinner and Annual Golf Day contributed to a very successful fundraising year. Roarys Big Week was once again a huge success with a wide range of community activities, along with a highty successful Foundation Game at Middlesbrough FC vpr5us Rotherham in January 2024. The Gamc included the Foundation being featured on the front of player5 shirts and warm-up t-shirts as well as hundreds of participant5 attending the game to partake in the pre-match and half-time artivities. Corporate Friends of the Foundation include 47 businesses. The Foundation is committed to following all Charity Commission guidance for fundraising activities as referenced in the Charities Act 2011. East Cleveland Projert Slnce earty 2019. The Foundation has received significant donations each year to deliver actmties and embed The Foundation's strategy and programmes in East Cleveland, a highly deprived, isolated area in the Borough of Redcar and Cleveland. During thls year, the project has contlnued to dellver and embed well-established Foundation programmes offered elsewhere in Tees5ide and transitioned into the wider Foundation Operations team. All delivery within East Cleveland is now managed and delivered under the strategic delivery themes of Education and Employability, Health and Wellbein& Social Inclusion and Community Cohesion and Sport and Physical Activity. This transition was the first step to sustain the project longer-term within The Foundation structure. Programmes such as Chances, now finished and FIT Boro, Premier League Kicks and Team Talk are regular offers within East Cleveland. The Boro Bus continues to be a huge success in East Cleveland and the wider Teesside area, supporting the delivery of Health Checks to schools and busines5e5 across area5 of East Cleveland. As Part of The Foundation's commitment to East Cleveland and followlng the one-off caplt31 donatlon In 2021122, the plans fora Loftus Centre were progre55ed. Designs and planningapplications were submittedto Redcarand Cleveland Borough Council for approval. with planning permission approved in October 2023. The Foundation anticipates moving forward wlth the project during 2024125. FINANCIAL REVIEW The year-end results show a net income of £345,241 12023.. £185,593). A total of £92,43212023: £43,988) of the total net income for the year is ring-fenced for the East Cleveland project delivery. Without the East Cleveland net income, this gives a total of £251809 of unrestrirted funds towards the net income for the year. The Trustees are very pleased with the overall performance of The Foundation this year. The value of funds generated through unrestricted funding is particularly pleasing as is the progress made by The Foundation in building up its reserves. Principal funding sources for The Foundation are the Premier League's Charitable Fund, The English Football League Trust. The Football Foundation, various local authorities, private donations, and local educational establishments. The Trusteeswould like tothankall funder5 fortheirgenerosityand thefaith they have placed in The Foundation to deliver the agreed programmes. The expenditure Incurred in dellvering the programmes is predominantly incurred on full- time staff with additional costs for items such as specialist equipment. marketing and staff continuous professional development opportunities. Page 6
dl ounda orthey End FINANCIAL REVIEW- continued Reserves Pollcy Unrestricted reserves are part of a charitys funds that are freety available to spend on any of the charitys activities. The Trustees airn to maintain free reseNes, being unrestricted reserve5 Other than fixed assets. at a level which will enable the Charity to continue operating following a temporary shortfall in income and equates to the total costs of redundancies for those employees identified as affected toget.her with 6 months of unrestricted costs. Trustees believe that this Is prudent and will facilitate the continuation of all unrestritted artivitles for at least 6 months whilst alternative funding is sourced. Reserves over and above this minimum amount are available for investment to a designated investment resetve. Based on the budget for the comlns year this equates to a resep4e requlrement of £457.171. The balance held as unrestricted funds on 31 August 2024 was £1.350,549 {2023'. £1.097.740). of which £1,202,149 12023.. £1,011,778) are regarded as free reserves, after allowlng for funds held as tangible fixed assets. This leads to a surplus of unrestrlcted funds over and above the reserves, requirement of £744,978. The Trustees regard this surplus as funding available to support any shorrfall in projett funding in the future or to match any fiJndin8 requirement5. The Reserves statement in the statutory accounts is reviewed by the Board no less frequently than annually. Investments The Investment Policy was signed in 2022 following which the Board delegated investment decisions to the Finance and Governance Committeewho monltorThe Foundation's financlal performance under the terms of reference. The Board appointed Rathbone Investment Management Limlted in 2022 and they continue to manage £1,500.000 to be split overtwo investments, one medium term (£500k) and one on deposit {£lm). The investments were made up from £1,500,000 Foundation reserves. Further investments of £1.5m continued to be placed on dep051t with Barclays (current account provider) and a further £1 m was placed on deposlt wlth HSBC. These funds are being held for future capital build developments in 2025. PLANS FOR FUTURE PERIOD The Foundation plan to leave the Herlingshaw in December 2025. During the year ending 31 August 2025, the Foundation will continue to progress plans to develop a new centre in Loftus, East Cleveland. The Centre will include a full size 3G pitch and a building which would include changing rooms and a community area. Planning appllcation was sought In 2022123 with approval recelved in October 2023. The capital donation received in 2021122 will specifically be utillsed for the Loftus development. A further opportunity arose in late 2022123 with Middlesbrough Council in relation to a new build at Southlands, Park End. Tender applications are due in January 2025. The Foundation is in discussions with MBC regarding the development of the facilty. Page 7
les ball Fou tlo 024 REFERENCE AND ADMINISTRATIVE DETAILS Company registration number.. 03142447 Charity registration number: 1059418 Registered office: 8rlgnell Road Riverside Park Industrial Estate Middlesbrough TS2 1PS Solicitors.. Ertdeavour Partnership LLP Tobias House St Marks Court Teesdale Business Park Teesside TS17 6QW Bankers: Barclays Bank PIC PO Box 378 71 Grey Street Newcastle upon Tyne NE99 1JP Auditors.. Anderson Barrowcllff Limited 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX DIRECTORS AND TRUSTEES The Directors of the Foundation are Its Trustees for the purpose of Charty Law. The Directors and Trustees of the Foundation who held office during the year are as follows.. Tw5tees: J Baker- Chairperson N J Bausor J R Bloom FrA Gaunt K Gibson J Fryett GJ Redman P Rowley OBE H Bowman lappolnted 23110120241 T Riordan (appointed 29104120241 Secretary: N Jackson Ambassadors: A 8ibby Key Management Personnel: Head of Foundation Acting Head of Foundation L Edwards (resigned 0411012024) C Mcmanus lappointed 0411012024) Page 8
Foot Foundatl Acom an STRucfuRE. GOVERNANCEAND MANAGEMENT The Foundation is a company limited by guarantee. The guarantee of members is limited to £1 each in the event of the Foundation being wound up. The Foundation is govemed by its Memorandum and Articles of Association. dated 29 December 1995 and amended on 2 Ortober 2012, and again on 24 January 2019. RecrultmenL Indurtion. Training and Development The Foundation wa5 established by Middleshroii8h Football Club who support The Foundation. Thc appointment of The Foundation'sTrustees is made bythe Foundatlon's Board of Dlrectors. Trustees meet all new Board appointments who are presented with induction material, whlch includes the latest published financial statements of The Foundation and a business plan for the strategic direction going forward. A detailed explanation of how the Foundation operates is given and any questions are answered. The Board oversees the Indurtion of all new Trustees to ensure theycould famillarise themselves with the Foundatlon and are aware of their roles and responsibilities going forward. All Direttors are encouraged to undertake further training as identified by periodic skills reviews. Organlsatlonal Structure The Board of Trustees, outlined in the reference Information above. meet as a mlnlmurn quarterly to dlscuss the performance ofthe Foundation. There are three Trustee-led Commlttees, of whlch the Head of Foundatlon and other members of the Senior Manager Team, as appropriate, attend. These are.. Finance and Governance Committee, Fundraising and Events Committee and East Cleveland Committee. Key decisions continue to be made by the Board. Other decisions on the day to day running of the Foundation are made by the Head of Foundation and Senior Management Team, under authority delegated to the Head of Foundation by the Board. Remuneratlon Pollcy for Management The Foundation's Trustees and the Senior Management Team comprise the key management personnel of the Foundation in charge of directing and controlling, running and operating the Foundation on a day-to-day ba515. ASI Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees. expenses and related party transactlons are given In note 12 and 21 to the accounts. The remuneration of Management is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Foundation the Trustees benchmark against remuneration levels in other clubs, foundations and consider the ability of the Foundation to cover the cost of any increases. Rlsk Management To minimise the risk of cessation of The Foundation's activities. the Board continually seeks new funding to secure the continuation of the Foundation. However, in the current economic climate, the Board is extensivety seeking further grant opportunities, as local government and councils have fewer funds available forthe scope of services which The Foundation performs. The Foundation has a full Risk Management policy, and the major risks are reviewed formally by the Trustees at least twice a year. Related Parties The Foundation is closely related to Middlesbrough Football Club. The Foundation ha5 Use of the name and badge of Middlesbrough Football Club and occupies part of the Riverside Stadium. The Trustees are grateful for the admlnlstration services and use of facilities donated by Middlesbrough Football Club. The value of these seNlces in the year totalled £302,773 (2023: £289,282). Page 9
Iddl Com an Limited b uarante ustee r Ended 31 A orthey ust 2024 RESPONSIBILITIES OF MEMBERS OF THE BOARD OF TRUSTEES The Trustees are responsible for preparing the Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pracricel. 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 for the incoming resources and application of resources, including income and expenditure of the Foundation for that year. In preparing these financial statements, the Trustees are required ro-: selert suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements.. prepare the financial statement5 on a going concern basis unless It is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the flnancial p051tion of the Foundatlon and enable them to ensure that the financial statements comply wlth the CompaniesAct 2006. They are also responsible for safeguardingthe assets of the Foundation and hencefortaking reasonable steps for the prevention and detettion of fraud and other irregularities, STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS We. the Trustees of the Foundation who held 01(e at the date of approval of these financial statements, as set out above, each confirm so far as we are aware, that: there is no relevant audit informatlon of which rhe Foundation's auditors are unaware.. and the Trustees have taken all the steps that they ought to have taken as Directors in order to make ourselves aware of any relevant audit Information and to establlsh that the Foundation's auditors are aware of that Information. PUBLIC BENEFIT The Foundation strlves to understand the need5 ofthe area and the communities livlng in them and looksfor funding opportunities within the region's business market. By worklng in partnership with local schools, statutory organisations, community organisations and businesses the management team can better understand the needs and requirements of local people, and then try to access the most appropriate funding Streams to provide suitable means for those individuals to address their education and sporting need5. When reviewing the aim5 and objectives of the Foundation the Board of Trustees has referred to Charity Commission general guidance on Public Benefit and is satisfied thatthe Foundation meets Public Benefit requirements. Pagelo
Foot b Found Com rEn AUDITORS The Auditors, Messrs Anderson Barrowcliff Limited. have expressed their willingness to continue in office for the ensuing year, and a resolution proposing their re-appointment asAuditors will be put to the Board of Trustees. This report has been prepared in accordance with the special prov15ions of Part 15 of the CompaniesAct 2006 relating to small companies. OnB If of the ar Ch person Date,. Page11
Mld 00 lub thel de ende udltorfs to the Membe ofMI ootball Club F atlon Oplnion We have audrted the financial statements of Middlesbrough Football Club Foundation (the 'charitable company) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAcceptedAccounting Practice), including Financial Reporting Standard 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland" In our opinion the financial statements:. give a true and fair view of the state of the charltable companys affalrs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended,- have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice Including Flnancial Reporting Standard 102 The Flnancial Reporting Standard applicable In the UK and Republic of Ireland,; and have been prepared in accordance with the requirements of the Companies Att 2006. Bas1$ for oplnlon We conducted our audit In accordance with International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in (he Audito¢s responsibllltles for the audit of the financial statements sectlon of our report. We are Independent of the charitable company In accordance wlth the ethical requirements that are relevant to our audit of the financial statements in the UK including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evldence we have obtained is sufficient and approprlate to provide a basis for our opinion. Concluslons relatlng to golng concern In audltlng the financial statements, we have concluded that the trustees, use ofthegoing concern basls of accounting In the preparatlon of the financial statementsls approprlate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condrtions that, individually or collettively, may cast sl8nificant doubt on the charltable companys ability to contlnue as a going concern for a period of at least twelve months from when the financial statements are authorlsed for issue. Our responsibilltles and the responslbilities of the trustees with respect to going concern are described In the relevant sertions of this report. Other Informatlon The trustees are responslble for the other information. The other Information comprises the information included in the Trustee5 Report, other than the financial statements and our Report of the Independent Auditorfs thereon. Our oplnion on the financial sratements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsistent with the financlal statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 fart. We have nothing to report in this regard. Page 12
lesbrou h Football Cl b Fo antee rtof thel end stoth embers of Iddlesbrou h F otball Clu oundatlo Matters on whlch we are requlred to report by exception We have nothing to report in respert of the following matters where the Charities IAccounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:. the Information given in the Report of Trustees is inconsistent in any material respectwith the financial statements,, or the charitable company has not kept adequate accounting records.. or the financial statements are not in agreement with the accounting records and retums; or we have not received all the information and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Trustees Responsibilities. the trustees (who are also the direttors of the charitable companyfor the purposes of company lawl are responsible for the preparation of the flnancial statements and for belng 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 atements ihat are free from material misstatemenL whether due to fraud or error. In preparlng the financial statements. the trustees are responsible for assessing the charltable companys 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 operation5. or have no realistic alternattve but to do so. Audltorfs responslbllltles for the audlt of the flnancial statements We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effett 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 a Report of the Independent Auditorsthat includes our opinion. Reasonable assurance 15 a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK) will alway5 detect a material misstatement when it exists. Mlsstatements can arise from fraud or error and are considered materlal 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. Irregularltle5, includlng fraud, are Instances of non-compllance wlth laws and regulatlons. We deslgn procedures In line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detectlng irregularities, including fraud is detailed below. Based on our understandlng of the charlty, we have considered applicable laws and regulatlons which may be fundamental to the charitys ability to operate or to avoid a material penalty, and we considered the extent to which nonvcompliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the flnancial statements lincluding the risk of override of controls) and determined that the principal risks were related to the postlng of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant oneff or unusual transactions. Page13
rou bal ci Found tee Aco Llml oth lesbro oot ci Foundatlo Audltors, responsibllltles for the audlt of the financlal Statements Icontlnued) We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and IKIW and where fraud might occur in the financial statements. Audit procedures performed by the engagement team included: Enquiryof management and those charged with governance around actual and potential Ittigation and claims. Enquiry of entity staff to identify any instances of non-compliance with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to supportlng documentation to asses5 compliance th applicable laws and regulations. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of slgnificant transactions outside the normal course of business. Challenging estimates and judgements made by management in their significant accounting estimates. Revenue recognition: agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognlsed in the corrert period. Because of the inherent limitations of an audlt, there is a rlsk that we wlll not detect all irregularltles, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transattlons reflected In the flnancial Statements. as we will be less likely to become aware of instances of non.compliance. The risk15 also greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation. A further description of our responslbllities for the audlt of the flnancial statements is located on the Flnancial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solelytothe charitable companys members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Ouraudit work has been undertaken sothatwe mightstateto thecharitable companls members those matters we are required to state to them in an auditofs 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 charitable company and the charitable companYs members as a body, for our audit worl for this report, or for the opinions we have formed. for and on behalf of Anderson Barrowcliff Limited Statutory Auditor Chartered Accountants Eligible to act as an auditor in terms of Sectlon 1212 of the Companies Act 2006 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX Page14
dlesbrou hFoo bFo antee Financl l Activltl dex en eac clu nt rthey rEn 24 East Cleveland Fund Total Funds 2024 Total Funds 2023 Unrestrlcted Funds Restrlrted Funds Note Income Donations and legacles Income from charitable activities Other trading attivities Investment income 344,114 553.534 248.112 189.990 535.826 879.940 1.596.326 248.112 189.990 865,779 1,641,280 240,122 64,864 1,042,792 Total Income 1.335,750 1,041792 535.826 2.914.368 2.812,045 Expendlture Costs of ralsing funds Charitable activities 165.450 957.634 165.450 443,394 2.443,818 147,026 2,479,426 1.042.790 Total Expendlture 1.123,084 1,042,790 443,394 2,609.268 2,626,452 Net gains / (losses) on investment assets 40.141 40,141 Net Income 251807 92.432 345.241 185,593 Transfers between funds 18 Net movement in funds 252.809 92.432 345.241 185,593 Reconclllation of Funds Funds brought forward at 1 September 2023 1,097.740 3,580.409 4.678.149 4.678.149 Total funds carried forward at 31 August 2024 17 1,350.549 3,671841 5.023.390 4,678,149 The notes on pages 18 to 28 form an integral part of these financial Statements Page15
Foot b Foundatlon an edb Re8iStered Number: 03142447 ust 2024 2023 Note Non4urrent Assets Tangible assets Investments 12 13 148.400 55S,866 259,137 500,000 704.266 759,137 Current Assets Debtors Cash at bank & in hand 14 433,048 4.510.097 181,790 4.258,915 4.943.145 4,440,705 Credltors.. Amounts falling due within one year 15 (351726) (260,933) Net Current Assets 4.590.419 4,179.772 Total Assets Less Current Llabllitles 5.294,685 4,938,909 Credltors: Amounts falling due after more than one year 16 (271.295) (260,7601 Net Assets 17 5.023,390 4,678,149 Funds Restricted funds East Cleveland fund Unrestricted funds 18 18 18 3.672.841 1.350.549 3,580,409 1.097,740 Total Funds 5.023.390 4,678,149 The charitable company is entitled to exemption from audit under Settlon 477 of the CompanlesAct 2006 for the year ended 31 August 2024. The members have not deposited notice, pursuant to Settion 476 of the Companles Art 2006 requiring an audit of these financlal Statements. The trustee5 acknowledge their responsibilities for.. la) ensurlng that the charltable company keeps accountlng records that comply with Sectlons 386 and 387 of the Companies Act 2006 and Ib) preparing financial statements which give a true and fair vtew of the state of affairs of the charitable company as at the of each financial year and of its surplus or deficlt for each financial year in accordance with the requirements of Sections 394 and 395 and with otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, 50 far as applicable to the charitable company. These financial statements have been audited under the requirements of Section 144 of the Charities Att 2011. These accounts have been prepared in accordance wlth the provlsions applicable to charitable companies subject to the small companies regime. The accounts were ved by the board of trustees on ..... and signed on its behalf by J Bake Chair an The notes on pages 18 to 28 form an integral part of these financial statements Page16
es Foot ubFo ndatlon 2024 2023 Cash from operatlng actlvltles 24 76.917 843,461 Cash flow from Investlng activltles Payments to acquire tangible fixed assets Proceeds on sale of listed investments Payments on acquisition of listed investments Interest and dividends 145.5941 156.962 (172.687) 189.990 {5Crt),000) 64,864 Net cash flow provlded by (used In) Investing activltles 174.265 (545.5941 Change In cash and cash equlvalents In the year Cash and cash equlvalents at the beglnning of the year 251.182 4,258.915 362,731 3,896,184 Cash and cash equlvalents at the end of the year 4,510,097 4,258,915 The notes on pages 18 to 28 form an integral part of these financial statements Page 17
Mlddles ation an Limlted b Guarant Notes o the Acco fort ACCOUNTING POLICIES (a) General Informatlon and basls of preparation Middlesbrough Foorball Club Foundation is a private company limited by guarantee registered in England and Wales. It is registered as a charity Wlth the Charity Commission. The address of the registered office is gwen in the Report of the Trustees on page 8. The nature of the Foundation's operations and principal activities are shown in the Report of the Trustees on page 1. The members of the Foundation are the trustees listed on page 8. In the event of the Foundation being wound up. the liability in respect of the guarantee is limited to £1 ppr member of the Foundation. The Foundation constitutes a public benefit entity as deflned by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitable companies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Art 2011, and UK Generally Accepted Practice. The financial statements are prepared In sterllngwhich is the functional currency of the Foundation, rounded to the nearest £. The signlficant accountlng policies applied in the preparation of these financlal statements are set out below. These pollcles have been consistently applied to all years presented unless Otheise stated. (bl Golng concern The flnanclal statement5 have been prepared on a golng concern basis as the trustees conslderthat there are no material uncertaintles about the Foundation's ability to continue as a going concern. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial Statements, The budgeted income and expenditure Is sufficient with the level of reserves for the Foundation to be able to continue as a going concern, (cl Income Items of income are recognised and Included In the SOFA when all the following criteria are met'.- The Foundation have entitlement to the funds: Any performance conditions attached to the itemlsl of income have been met or are fully wlthin the control of the Foundation. There is sufficient certainty that receipt of the income is considered probable,. and The amount can be measured reliably. Donatlons and grants received for specific purposes are classed as restricted and are deferred until the Foundation is entitled to the funding and has met the condition5 set out in the funding agreement. Gifts In kind are Included wlthin donatlons in the SOFA at an estimate of the cost of providing the seNice. The equivalent cost is also included within resources expended. Investment income 15 earned through shares held in an investment portfolio for investment purposes. It includes dividends and interest. It is included when the arnount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charitys right to receive payment is established. There 15 no netting off of expenditure within the accounts. Page18
MI dlesbr Foo Notes to the Accoun for the Y r Ende ACCOUNTING POLICIES- contlnued Id) Expendlture ASI expendlture is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expendrture is recognised once there is a legal or constructive obligation to make a payment to a third paty, it is probable that settlement will be required and the amount can be measured reliably. Irrecoverable VAT is included in expenditure against the relevant cost for whlch the expenditure was incurred. Expenditure is classified under the following headings: Costs of raisin8 funds are those incurred in attracting donations, and those incurred in trading activities that raise funds. Charitable expenditure comprises those costs incurred by the Foundation in the delivery of its activities. It Includes both costs which can be direttty allocated to activities and those costs of an Indirett nature. Support costs are those functions that assist the work of the Foundation but do not directly undertake charitable activities. Support costs include back office costs. finance. personnel. payroll and governance costs. Governance costs are those incurred In connection with compllance wlth constltutlonal and Statutory requirements. {e) Flxed assets Fixed assets are stated at purchase cost together with any Incldental costs of acquisition less accumulated depreciation. Assets are capitalised if they cost more than £500 and are expetted to last more than one year. Depreciation is calculated on a straight line method to write off the cost of fixed assets over their estimated useful economic lives as follows: Computer equipment Fixtures and fittings Leasehold Land and buildings Motor Vehicles 33% and 25% per annum straight line 33%, 20% and 10% per annum straight line over the period of the lease 1096 per annum stralght line (fi Investments Investments are recognised initlally at falr value whlch is normally the transaction price excluding transaction c05t5. Subsequently, they are measured at fair value with changes recognised In 'net g3insl(losses>' on investments in the SOFA if the shares are publicty traded or their fair value can o(herwt5e be measured reliably. (gl Debtors Trade and other debtors are recognised at the settlement amount due. (h} Cash at bank Cash at bank and cash in hand includes cash and short term highty liquid investments wFth a short matursty of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors Creditors and provisions are recognised where the Foundation 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 provisions are normally recognised at theirsettlement amount. Page19
Middl Com h Footb 11 ited b arant Notes t the Acc for the Ye rEnd 24 ACCOUNTING POLICIES- continued li) Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have no¢ been designated for other purposes. Restritted funds are funds which are to be used in accordance with specific restrictions imposed by donor5 or which have been raised by the Foundation for particular purposes. The cost of raising and administering the funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. (kl Flnancial Instruments The Foundation only has financial assets and financial liabllitles of a kind that qualify as baslc financial instrument5. Basic financial instruments are initially recognised at transattion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Operatlng leases Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred, Imi Penslon scheme The Foundation operates a fully insured, contributory defined contribution pension scheme for all employees. The Foundation contributions are charged tothe SOFA in the period to which they relate. {n} Judgements and key sources of estlmatlon uncertalnty In the application of the Foundation's accountlng policies, which are described above. the Trustees are required to makejudgements. estimates and assumptions aboutthe carryingamounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hlstorical experience and otherfattorsthat are considered to be relevant. Actual results may differ from these estimates. The estimates and underlylng assumptions are reviewed on an ongoing basis. Revisions to accounting estlmates are recognised In rhe period in which the estimate is revised if the revision affects onty that period, or In the period of the revision and future periods if the revision affects both current and future periods. Page 20
Aco te DONATIONS AND LEGACIES East Cleveland Unrestrlrted Restricted 2024 2023 Middlesbrough Football Club Gifts in kind Donations 301773 41.341 301773 577,167 289,282 576,497 535.826 344.114 535.826 879.940 865,779 The £302,773 gift in kind costs (2023: £289.282) donated by Middlesbrough Football Club Is an estlmate of the value of staff time and donated facilities provided to Middlesbrough Football Club Foundation. The associated expenses are Included within the Sports Participatlon costs as detalled in note 6. The restricted donation £535,826 (2023.. £525,000) has been requested to be spent In East Cleveland. Income from donations and legacies for 2023 was £576.497, of which £525.000 was attributable to East Cleveland, £Nil restritted and £51.497 was attributable to unrestricted. INCOME FROM CHARITABLE ACTIVITIES Unrestrlcted Restrlcted 2024 2023 Education and Employability Sport and Physical Artivty Health and Wellbeing Social Inclusion and Community Coheslon 2.1)00 515,952 35,582 306.647 25.465 143,797 566,883 308.647 541,417 179,379 566,883 356,391 507,674 230,274 546,941 553,534 1.042.792 1.596,326 1.641,280 Income from charitable activities for 2023 was £1.641,280 of whlch £1,014,160 was attrlbutable to restricted and £627,120 was attributable to unrestricted. INCOME FROM OTHER TRADING ACTIVITIES Unrestrirted Restrlcted 2024 2023 Fundraising attivities.. Fundraislng Sundry income 193,809 54.303 193.809 54.303 195,437 44,685 248,112 248,112 240,122 Income from other trading activities for 2023 was £240,122 all of whlch was attrlbutable to unrestrltted. Page 21
esbrou h Football tee otes t ount the Year Ended 31 Au 024 INVESTMENT INCOME Unrestrlcted Restrlrted 2024 2023 Interest - Deposits Dividends- Equities 166.782 23.208 166.782 23.208 64.864 189.990 189.990 64,864 Investment income for 2023 was £64,864 all of which was attributable to unrestricted. COSTS OF RAISING FUNDS Unrestrlcted Restrlcted 2024 2023 Fundraising activities.. Staff costs Equipment and consumables Promotions & Events Travel and tours Other costs Tralnlng 115,332 36,587 1973 1,190 9,322 115.332 36.587 2.973 1,190 9.322 94,631 44,971 4,317 2,164 943 165,450 165.450 147,026 Costs of raising funds for 2023 was £147.026 all of whlch was attributable to unrestricted. Page 22
Mld Aco rou an Limlted b Guar ntee tes to the Ac unts forthe Ye 31A EXPENDITURE ON CHARITABLE AcfiviTIES Soclal Incluslon and Communlty Coheslon Educatlon and Employ- ablllty Sport and Physlcal Actlvlty Health and Wellbeln8 Total 2024 Total 2023 Staff Costs Equipment & consumables Travel & Tours Depreciation Premises costs Training Events Other Costs 3G Pitches Sinking Fund Support costs (see belowl Governance costs Inote 71 257,252 243.437 7.618 3,616 6.090 15.040 14.742 3.412 12.954 4.932 173,148 6.657 17.223 13.551 21,713 514.113 20.699 18.979 34.267 90.788 4.776 4.675 30.360 1,187.950 1,228.717 38,590 79,384 42.292 50,256 110.737 102,468 265.810 264,388 14.119 45,026 22,393 38.788 95.187 40.554 36,000 36,000 592,618 495,975 38.122 97.870 47.879 138.567 1708 4.764 38.869 21.026 36,000 8,387 931 139,522 11.210 131.369 5.257 313.340 20.724 4n.n2 505,551 415.774 1,052.721 2.443.818 2,479,426 SUPPORT COSTS Staff costs General office costs Equipment & consumables Other costs Events Premlses costs 51.361 18,215 3.909 376 28,994 36.667 3.088 1,095 235 22 1,743 2,204 48,360 17.151 3,680 354 27,300 34,524 115,348 40,909 8,778 843 65.115 82,347 218,157 T7.370 16,602 1,595 123.152 155,742 186,317 36,108 18,144 1.232 115,089 139,085 139.522 131.369 313.340 592,618 495,975 Expenditure on charitable3Ctlvltieswas £2,443,818 (2023: £2,479.426)of which £1.486.184(2023: £1.495.1761 was attributable to restricted and £957.634 {2023: £984,250) was attributsble to unrestricted. GOVERNANCE COSTS 2024 2023 Herlingshaw Development Costs Staff costs Trustees insurance Bank charges Legal fees Audit & accountancy fees 67.035 20,700 1,307 740 70 8,018 26,308 1.432 957 185 38.122 97.870 Page 23
om Limlted aran Notes o th Acco nts f th Year ded t20 NEf INCOME FOR THE YEAR This is stated after charging:" 2024 2023 Depreciation Auditors rernuneracion - for audit operating lease rentals- equipment 110,737 9,000 1204 102,468 8.000 1,934 10 STAFF COSTS 2024 2023 Wages & salaries Social Security costs Penslon costs 1.306.089 91.503 32.767 1,321.800 94,053 31,748 1.430,359 1,453.600 One employee recelved between £60,001- £70.000 per annum. The average monthly head count for the year was 71 12023., 781, 11 TAXATION The Foundation is a Charity established under the Charities Act 2011. Accordingly, the Foundation Is potentially exempt from taxation in respect of Income or capital gains received within categories covered by part 10 of the ITA 2007 or section 256 of the Taxation of Chargeable Gains Att 1992, to the extent that such Income or galns are applied to excluslvety charitable purposes. 12 TRusfEES'AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES None of the Trustees recewed any remuneration in the year {2023: £nil). None of the Trustees had expenses In the year (2023., £nll}. The total amount of employee benefits received by key management personnel is £61,639 {2023'. £59,473). The Foundation considers its key management personnel comprise the Chief Execu(svelHead of Foundation. There is 1 (2023 - 1) key management person accruing pension arrangements. Page 24
iddlesbr Llrnl ed b 12 TANGIBLE FIXED ASSErs Leasehold Land and Bulldlngs Fixtures and Flttlngs Computer Equlpment Motor Vehlcles Total Cost At 1 September 2023 668,176 52.273 38.322 146,637 905,408 At 31 August 2024 668,176 52,273 38,322 146,637 905.408 Depreclatlon At 1 September 2023 Provided during year 590,842 77,331 26,101 6,299 29,328 14,460 646.271 110.737 12,647 At 31 August 2024 668,173 32,400 12.647 43,788 757,008 Net Book Value At 31 August 2024 19.873 25.675 102,849 148.400 At 31 August 2023 77,334 26,172 38.324 117,309 259,139 All tangible fixed assets were used for charitable purposes. 13 INVEsfMENTS Investments are stated at fair value as at 31 August 2024 and comprise the following.'_ 2024 2023 Listed Investments Cash held vvithin investment portfolio 539.084 16.782 500,000 S55.866 500,000 8alance as at I September 2023 Addition5 Increase in market value of Investments Disposals Profit on disposal of investments 500.000 172.687 39.280 1156.962} 861 S55.866 Page 25
rant 14 DEBTORS 2024 2023 Trade debtor5 Prepayments and accrued income Other debtors 147.928 285,120 84.292 72,035 25,463 433.048 181,790 15 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other taxes & soclal security Accruals Other creditors Oeferred income 68,071 6,023 38,312 47,288 27,885 22,086 240.319 163,673 351726 260,933 16 CREDITORS; AMOUNTS FALLING DUEAFfER MORE THAN ONE YEAR 2024 2023 Deferred Income Other creditors 19.333 251.962 44,798 215,962 271.295 260,760 Deferred income comprises fundlng recelved in advance for projects over a specific tlme period which overlaps the year end. 17 ANALYSIS OF NET ASSETS Fund balances 31 August 2024 are represented by'.- Un- restrlcted East Cleveland Restrlcted 2024 2023 Tangible fixed assets Investments Current assets Creditors falling due within one year Creditors falling due after one year 15.151 555.866 1,143.901 (111407) (251.962) 30.401 102.848 148,400 555.866 4.943.145 (351726) (271.295) 259,137 500,000 4,440,705 1260,933) {260,760) 229.251 (240.319) (19.333) 3.569.993 1.350.549 3.672.841 5,023.390 4,678,149 Page 26
Middle Acorn hFo Found mited b Gu rantee 18 ANALYSIS OF MOVEMENT IN FUNDS Un- restricted East Restrlrted Cleveland 2024 2023 At 1 September 2023 Incoming resources Outgoing resources Gross transfers between funds Gains / {lossesl 1.097,740 3.580.409 4.678.149 4.492,556 1,335.750 1,041792 535.826 2.914.368 2,812,045 (1.123,084) (1.042.790) {443.394) (2.609.268) 12.626.452) (2) 40,141 40.141 At 31 August 2024 1,350.549 3,6n841 5.023.390 4,678,149 19 SHARE CAPITAL The Foundation does not have any share capital and is limited by guarantee. The members of the Foundation are directors and their guarantee15 limited to £1. RESTRICTED FUNDS FROM CHARITABLE ACTIVITIES Soclal Incluslan and Communlty Coheslon Edueatlon Sport and Employ- and Physlcal ablllty Actlvity Health and Wellbein Total Balance at 1 September 2023 Received in year Expended in year Gross transfers between funds 306.647 (314,130) 7,483 25.465 143.797 566.883 (622) (147.312) (580.726) (24.843) 3.515 13.843 1,042,792 (1.041790) (2) Balance at 31 August 2024 The monies recelved relate to grants made by the following bodies for the following purposes: Education income was granted by the Premier League Charitable Fund, British Land, Redcar and Cleveland Borough Council and local schools and academy trusts to SUPPOrt delivery of education in the local community. The Premier League Primary Stars and Premier League Inspires programmes recelved funding from the Premier League Charitable Fund and local schools for the delivery of Curriculum Physical Education. The Employability projects were funded by British Land, and Coach Core. Health and Wellbeing Income wasgranted by the English Football League Trust for health prevention sessions in primary schools. The English Football League Trust also funded Match Fit a programme supporting adults to lose weight and increase their levels of physical activity. The Middlesbrough Football Club sponsor Kindred continued to provide a restricted grant for Men's Mentsl Health support. The Foundation received funding from You've Got This to deliver Warm Spaces. The monies received relate to grants made by the following bodies for the following purposes: Page 27
rou ball Cl Limi Foundatlo th ear d31Au 20 RESTRicfED FUNDS FROM CHARITABLE ACTIVITIES - contlnued Social Inclusion and Community Cohesion income was granted by the Premier League Charitable Fund. the Office for Police and Crime Commissioner for Cleveland for the delivery of Premier League Kicks and Premier League Kicks Targeted. Four local authorities of Middlesbrough, Stockton, Redcar and Cleveland and Hartlepool along with the Office for Police and Crime Commissioner for Cleveland funded two targeted interventions, Switch It and Chances. Thirteen Housing provided fijnded for a social inclusion programme for families living in houses managed bythe company. Whilstthe Football Foundation provided grantfunding for the Active Through Football programme RESTRICTED FUNDS FROM DONATIONS- EAsf CLEVELAND FUND 2024 2023 Balance at 31 August 2023 Received in year Expended in year 3.580.409 535.826 {443.394) 3.536,421 525,000 (481.0121 Balance at 31 August 2024 3.672.841 3,580,409 During the year a further donation was received for the East Cleveland Fund with a specific request that the funds should be spent as an ongoing project for the benefit of the population In East Cleveland. 21 RELATED PARTY TRANSAcfioNS During the year Middlesbrough Football Club provlded donated servlces. staff and facllltles to the value of £302,77312023: £289,282). At 31 August 2024 the Foundation owed £5,370 12023.. £6,4621 to Middlesbrough Football Club. The Foundation provided £32,945 {2023: £43,449) of sundry seNlces to Middlesbrough Football Club and was provided with £128,70512023'. £92.4451 of sundry services from Middlesbrough Football Club. ULTIMATE CONTROLLING PARTY The Trustees control the Foundatlon by virtue of their appolntment to the board. PENSION COSTS The Foundatlon operates a fully insured contributorydefined contribution pension scheme for all employees. The charge for the year amounted to £32,767 (2023: £31,748). The amount outstanding at 31 August 2024 was £6,123 {2023". £5,846). RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for year Interest and dividends shown in investing activities IGainslllosses on investments Add back depreciation of tangible fixed assets (Increase)IDecrease in debtors IncreasellDecrease) in creditors 345.241 (189.990) {40.141) 110,737 (251.258) 101328 185,593 (64,8641 102,468 641,122 (20.858) Net cash flow from operating activlties 76.917 843,461 Page 28