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Middlesbrough Football Club Foundation (Limited by Guarantee)
Annual Report and Financial Statements for the Year Ended 31 August 2025
Registered Number: 03142447 Charity Number: 1059418
ANDERSON BARROWCLIFF LIMITED Chartered Accountants
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Statement of Accounts for the Year Ended 31 August 2025
| Page | |
|---|---|
| Report oftheTrustees | 1-11 |
| Report ofthe Independent Auditors | 12-14 |
| Statement of Financial Activities | 15 |
| Balance Sheet | 16 |
| Statement of Cash Flows | 17 |
| NotestotheAccounts | 18-29 |
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
The Trustees submit their report and the audited financial statements of Middlesbrough Football Club Foundation (‘the Foundation’) for the year ended 31 August 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 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 charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
The Directors of the Foundation are its Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end are shown on page 9.
OBJECTIVES AND ACTIVITIES
The Board of Directors decide the strategic direction of the Foundation and the day to day decisions are made by the Senior Management of the Foundation.
The Foundation’s main aims are:
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e To encourage and advance the education of children and adults within the community with the purpose of promoting a healthy lifestyle and improving their condition of life.
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e To promote community involvement in healthy recreation by providing facilities 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 abilities, both physically and otherwise.
ACHIEVEMENT AND PERFORMANCE
Throughout the year ending 31% August 2025, the Foundation started delivering towards the Together 2024-28 strategy, to Inspire Hope, Inspire Confidence. Delivery focused on the three themes of Education and Employability, Social Inclusion, Health and Wellbeing. Programme delivery remained consistent providing a wide range of activities across multiple locations in both schools and the community. Activities included partnerships with Premier League Charitable Fund, EFL in the Community, NHS, People Plus, Cleveland Unit for the Reduction of Violence (CURV), Police and Crime Commissioner (PCC) and Local Authorities. Newly funded programmed for 2024/25 included:
Best Foot Forward (People Plus) - provided essential support for adults seeking employment or career progression. The programme focused on building self-awareness and resilience, equipping participants with strategies to navigate the challenges of job searching. Through guided exercises, participants explored their strengths, values, and career goals, while resilience-building sessions teach them to overcome setbacks and maintain motivation.
Parkinson’s Walking Football (EFL in the Community) - sessions provided a safe and inclusive environment for individuals living with Parkinson's, supporting both physical and mental wellbeing. The sessions aimed to improve motor function, balance, strength, coordination, and social interaction, while also reducing isolation. Delivered in partnership with EFL in the Community, Parkinson's UK, and the Football Association, the programme increased access to walking football opportunities across Teesside, enhancing quality of life and community inclusion.
Back In Play (PCC) - supported 19-24-year-olds through weekly employability and personal development sessions across Teesside. Using sport as a hook, the programme offered accredited qualifications, tournaments and workshops to enhance employability and life skills. Back In Play also provided opportunities for social interaction, confidencebuilding, and progression into employment, education, or further training, helping young people develop both personally and professionally.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
ACHIEVEMENT AND PERFORMANCE - continued
Knife Crime Programme (CURV) - delivered prevention and education initiatives aligned with Cleveland’s Knife Crime Action Plan. Developed by the Cleveland Unit for the Reduction of Violence (CURV), the plan prioritised early intervention, community action, and positive opportunities for young people. Through school and community-based sessions, the programme raised awareness of the risks associated with knife crime, promotes safe alternatives, and strengthens community cohesion
Silver Recovery Group (Middlesbrough Borough Council) - aimed to engage young people in Middlesbrough in response to the 2024 summer riots, following the After the Riots report published by British Future. Focused on central and east Middlesbrough, the programme provided mentoring and collaborative activities to promote respect, community cohesion, and personal progression. Participants were supported into education, training, and employment opportunities, helping them develop skills and confidence while contributing positively to their communities.
The fundraising and events programme for the Foundation continued to grow and deliver our most successful year yet, with the continuation of our key events of the Foundation Dinner and Fizz Friday, but with the expansion of more mass participation events such as the Roary’s 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 Herlingshaw Centre, South Bank, continued to be a central focus for the 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 employability support, the Centre provided much sought after activities for the community including, birthday parties, Roary’s Academy, holiday camps and tournaments. The Centre and the Foundation were the hosts of the Premier League Disability event, teams from 18 Football Club charities representing Clubs from across the north of England came together to take part in competitive matches as well as numerous activities and workshops on offer as part of the event.
Programme delivery continued to operate across three core themes:
Education and Employability
The Foundation’s education and employability arm delivered educational and employability programmes which assisted young people and adults with obtaining new skills, knowledge, qualifications and employment.
Premier League Primary Stars - is a project, funded by the Premier League Charitable Fund, supporting the Premier League’s agenda of delivering sport and education projects to primary school in the top 30% areas of deprivation. During 2024/25-year 26 partner schools engaged with Premier League Primary Stars providing 4,862 young people engaged with 630 being women and girls.
Premier League Inspires, Virtual Schools and Raise Your Game- delivered education activities to disadvantaged young people, with an aim of building self-esteem and confidence. Premier League Inspires was delivered in 28 schools, mostly secondary but also with support in Middlesbrough College, during 2024/25. Raise Your Game was funded by British Land and delivered to first year college students. Virtual Schools is a programme working in partnership with Redcar and Cleveland Council to deliver one to one support. The three programmes supported over 8,826 young people with 7,550 of these engaged in careers-focused activities.
Joy of Moving- is a six-week programme engaging 9-11-year-olds in physical activity and health education through a programme featuring PE lessons and healthy living workshops, culminating in a Joy of Moving festival. Funded by EFL in the Community, over 1,050 young people engaged from 20 schools in physical activity and health education sessions through the programme in 2024/25.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
ACHIEVEMENT AND PERFORMANCE - continued
Coach Core Apprenticeship Scheme - the Foundation employed two apprentices on the Coach Core scheme for a 15-month period. Both worked across several programmes delivered by the Foundation and both are now enrolled on the Foundation’s University of South Wales degree programme, with one apprentice employed 30 hours per week delivering on Premier League Primary Stars.
Bright Lights - funded by British Land and working with Teesside Park, we delivered a retail and hospitality programme with young people aged 18-24 aimed at improving their employability skills and undertaking a two-week work placement with an employer. The Bright Lights programme has helped 24 out of 27 young people into sustained employment (in employment 12 months after the course ended).
University of South Wales - In partnership with the University of South Wales and the EFL in the Community, the Foundation offer a Sports Coaching and Development degree programme. The programme runs for three years and will mix educational content with practical learning. After two years participants will gain a Foundation Degree in Sports Coaching, and a full BSc in Sports Coaching and Development upon completing a third year. Students are supported by qualified and experienced tutors whose aim is to assist the learning of every individual on the course. All student passed their year two foundation degree and are currently completing the final year.
Health and Wellbeing
The theme of Health and Wellbeing seeks to improve the health and wellbeing of our local communities through activities which promote healthier lifestyles. Those key activities include:
Move Well - match fit is a programme aimed at engaging men and women in regular physical activity, with the aim of losing and sustaining weight loss. Funded by Premier League Charitable Fund Fans Fund, the programme was delivered at the Riverside Stadium and in East Cleveland providing a 12-week course which was delivered three times per year, consisting of a 45-minute circuit class and educational workshops on healthy living. Over 249 individuals took part in the programme throughout the year with 178 of participants being women, a significant increase on the previous year.
Team Talk - funded by Middlesbrough Football Club’s sponsor Kindred and East Cleveland funding. Think With Your Feet are weekly sessions for adults suffering from poor mental health and in need of support for their wellbeing. The programme has engaged 138 participants referred from Mind, recovery centres, local authorities, job centres and self-referrals.
In Your Stride - In Your Stride walking football programme was initiated to engage inactive individuals living in some of the most deprived wards in the UK. The programme aimed to promote physical activity, enhance mental wellbeing, and foster community engagement through walking football. In 2024/25 over 83 adults took part in walking football programme.
Age Well - The Middlesbrough Age Well provision has focused on two key target groups, care homes and those living with dementia across Tees Valley. Funded by the Premier League Charitable Fund, the twice monthly tea dances remain popular with attendances regularly over 30 at each event. These dances are attended by people living in the community with a dementia diagnosis, brought with their families or care givers. Middlesbrough Football Club Foundation work with Senses Wellbeing Centre and Dementia Action Teesside to facilitate these events. The Age Well programme has engaged with 401 participants with 294 of those through visits to 24 care homes.
Health Bus - Middlesbrough Football Club Foundation Boro Bus aims to help combat health and education difficulties in areas of deprivation. It quickly developed into a learning facility that was used throughout the region, often supplementing work done within classrooms. The initiative aims to support local businesses and community centres in delivering health checks and cholesterol tests. Its goal is to identify any underlying health conditions early, help individuals understand their risk of future cardiovascular disease, and, where issues are detected, we would then recommend a follow-up visit to their GP for further assessment and care. The bus has also provided transport on match days for residents in East Cleveland.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
ACHIEVEMENT AND PERFORMANCE - continued
Holiday Camps including Kellogg's - were arranged during every school holiday at the Herlingshaw Centre and in East Cleveland. The camps offering young people aged 5-14 years old additional football and multi-sports sessions, whilst offering support to parents during the school holidays. These holiday camps provided an excellent opportunity for participants to learn and develop new skills while having fun during the school holidays and improve social skills by meeting new people and making friends. Over 143 children enjoyed football and multi-sports during 2024/25.
Social Inclusion
The theme of Social Inclusion and Community Cohesion uses the power of Middlesbrough Football Club, through football, sport and youth work, to unite and empower communities, inspiring and enhancing skills of young people and adults, particularly those within socially deprived wards. During the year the Foundation delivered the following programmes under the Inclusion and Community Cohesion theme: Premier League Kicks - delivered within the most deprived communities and provided diversionary and positive activities such as football, personal development opportunities and educational workshops on evenings to reduce crime and anti-social behaviour and improve life skills. Funded by the Premier League Charitable Fund and the Office of Police and Crime Commissioner for Cleveland (PCC), Premier League Kicks continued to engage 1672 young people in 2024/25, of which 253 were girls. Additional funding received from Thirteen Housing to support with delivery at Newport.
Premier League Kicks Targeted - supported young people referred from Middlesbrough Council's Vulnerable, Exploited, Missing, Trafficked Practitioners Group (VEMT) to improve their wellbeing, build trusted relationships and reduce their involvement or likelihood to be involved in youth violence through one-to-one mentoring and group work. During 2024/25, the delivery of Premier League Kicks Targeted was transitioned into Premier League Kicks to provide a pathway of support. The programme supported 46 medium-high risk young people with some participants transitioning into mainstream Premier League Kicks and other Foundation activities.
Youth Think with Your Feet - The Youth Think with Your Feet (YTWYF) programme is designed to provide ongoing support to young people who have completed targeted programmes or those identified through our Kicks sessions as needing a more tailored approach due to behavioural challenges or additional support needs. The programme offered a safe, supportive environment for these young people to continue their engagement with our services. The programme supported 84 participants with 39 of those in East Cleveland. Premier League Kick 19+ - This project was in collaboration with the CURV. Aimed at engaging 19-plus, the project was based on CURV's 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 priorities, and East Cleveland. Both areas are within Tees Valley and face high unemployment, offer distinct demographics, and provide valuable insights into future interventions with this age group. The programme supported 91 participants with 72 minority ethnic.
Switch It - funded by Middlesbrough Borough Council, involved the Foundation’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 schools, or those new to the region. During 2024/25, Switch It supported 85 young people across 10 secondary schools in partnership with Middlesbrough Borough Council's Early Help Team.
Active Through Football - is a programme awarded and funded by the Football Foundation and Sport England working with the local communities of Newport and North Ormesby to provide football and physical activity opportunities, breaking down barriers to physical activity and embedding lifelong behaviour change. Over 730 adults engaged in Active Through Football with 401 being from ethnically diverse backgrounds.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
ACHIEVEMENT AND PERFORMANCE - continued
Herlingshaw Centre
The Herlingshaw Centre is a sports facility 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 Artificial Grass Pitch, an outdoor fullsize 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 Kicks, Premier League Targeted, Premier League Primary Stars, Premier League Inspires, Think with Your Feet, University of South Wales degree programmes, and In Your Stride.
The Centre is also used by external parties and organisations including Normanby FC, Redcar Town FC, Middlesbrough Girls FC and Middlesbrough Football Club Development, along with a wide range of other local grassroots football clubs.
Throughout 2024/25, the Centre was able to achieve one of its strongest years to date, with over 36,000 participants across the year over the wide variety of activities delivered. 3014 booking were made and 6036 active hours achieved across all activities. The football facilities were fully utilised on evenings and weekends, with further interest for the wider facilities during weekdays. The Centre was fully booked every weekend for the unique Birthday Party's on offer, as well as high demand for Holiday Camps and Walking Football. In 2024/25, the Foundation delivered 57 parties to nearly 877 children.
Other Fundraising activities and Events
Throughout 2024/25 the Foundation delivered several large-scale events as well as launching community mass participation events. The Foundation Dinner and Annual Golf Day contributed to a very successful fundraising year, Roary’s Big Week was once again a huge success with a wide range of community activities, along with a highly successful Foundation Game at Middlesbrough FC versus Hull City in November 2024; the Game included the Foundation being featured on the front of players shirts and warm-up t-shirts as well as hundreds of participants attending the game to part in the pre-match and half-time activities.
Corporate Friends of the Foundation expanded to 48 businesses. The Foundation is committed to following all Charity Commission guidance for fundraising activities as referenced in the Charities Act 2011.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
ACHIEVEMENT AND PERFORMANCE - continued
East Cleveland Project
Since early 2019, the Foundation has received significant donations each year to deliver activities and embed the Foundation strategy and programmes around ‘East Cleveland’, a highly deprived, isolated area in the Borough of Redcar and Cleveland.
For the 2024-25 delivery year, the Foundation has seen an increase in engagement across East Cleveland. A total of 1,442 participants have taken part in 550 sessions delivered across 19 venues. This represents a significant increase compared to the previous year (2023-24), when 765 participants attended 696 sessions across 17 venues. While the total number of sessions has slightly decreased, participant engagement has increased by 88%, demonstrating greater reach and effectiveness per session. The most notable change has been within the Education and Employability theme, which has expanded from 133 participants at 38 sessions in 2023-24 to 948 participants at 62 sessions in 2024-25. Community Engagement and Sport Participation has more than doubled its reach, growing from 53 participants in 2023-24 to 116 this year, maintaining the same number of sessions (11), which highlights improved participant activity. Participant demographics also show positive movement towards greater diversity and inclusion. In 2024-25, 1.5% of participants identified as being from an ethnic minority background, up from 0.4% the previous year. Those identifying as having a disability increased slightly from 4.9% to 5.2%. The participation of women and girls remained stable, moving from 37% to 36%.
In summary, the Foundation’s performance in 2024-25 shows strong growth in overall engagement, particularly in Education and Employability and Community Engagement. Looking ahead to 2025-26, the Foundation intends to build on the strong performance by further increasing participation and reach across all strategic themes. The priority will be to sustain growth in Education and Employability, strengthening delivery within Health and Wellbeing and Social Inclusion to ensure an inclusive offer. Efforts will also focus on engaging participants from the most deprived areas.
As part of the Foundation’s commitment to East Cleveland and following the one-off capital donation in 2021/22, the plans for a Loftus Centre were progressed. Designs and planning applications were submitted to Redcar and Cleveland Borough Council for approval, with planning permission approved in October 2023.
FINANCIAL REVIEW
The year-end results show a net expenditure of £58,479 (2024 net income of £345,241). The East Cleveland project incurred a net expenditure of £324,845 (2024 net income of £92,432) using some of the surplus donations received in prior years. Without the East Cleveland net expenditure, this gives a total of £266,366 of unrestricted 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 Trustees would like to thank all funders for their generosity and the faith they have placed in The Foundation to deliver the agreed programmes. The expenditure incurred in delivering the programmes is predominantly incurred on fulltime staff with additional costs for items such as specialist equipment, marketing, and staff continuous professional development opportunities.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee) Trustees Report for the Year Ended 31 August 2025
FINANCIAL REVIEW - continued
Unrestricted Reserves are part of a charity's funds that are freely available to spend on any of the charity's activities. The Trustees aim to maintain free reserves, being unrestricted funds other than fixed assets, at a level which will enable the Charity to continue operating following a considerable temporary shortfall in income and equates to the total cost of redundancies, for those employees identified as affected, together with 6 months of unrestricted costs.
Trustees believe that this is prudent and will facilitate the continuation of all unrestricted activities 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 reserve.
Based on the budget for the coming year this equates to a reserve requirement of £457,411.
The balance held as unrestricted funds on 31 August 2025 was £1,616,915 (2024: £1,350,549) of which £1,535,232 (2024: £1,335,398) are regarded as free reserves, after allowing for funds held as tangible fixed assets. This leads to a surplus on unrestricted funds over and above the reserve's requirement of £1,077,821, forming the balance on the Investment Reserve on 31 August 2025.
The Trustees regard the Investment Reserve as funding available to support any shortfall in project funding in the future or to match funding requirements.
The Reserves statement in the statutory accounts is reviewed by the Board on an annual basis.
Investments
The Investment Policy was signed in 2022 following which the Board delegated investment decisions to the Finance and Governance Committee who monitor the Foundation’s financial performance under the terms of reference. The Board appointed Rathbone Investment Management Limited in 2022 and they continue to manage £1,500,000 to be split over two investments, one medium term (£500k) and one on deposit (£1m). The investments were made up from £1,500,000 Foundation reserves. Further investments of £1.5m continued to be placed on deposit with Barclays (current account provider) and a further £1m was placed on deposit with HSBC.
PLANS FOR FUTURE PERIOD
The Middlesbrough Football Club Foundation is entering an exciting new chapter with two major infrastructure projects designed to strengthen our community impact and operational capacity.
Southlands Centre
Our new headquarters will be based at the Southlands Centre on Ormesby Road, East Middlesbrough. In partnership with Middlesbrough Borough Council, construction will continue through 2025 following planning approval in late 2024, and we expect to move into the facility by June 2026, with full operational delivery that summer. This purposebuilt, single-storey hub will include upgraded 3G and grass football pitches, alongside modern indoor spaces such as classrooms, meeting rooms, social areas, and changing facilities. These amenities will enable us to deliver a wide range of programmes from education and employability workshops to health and wellbeing sessions, within a dedicated community setting. Relocating from the Riverside Stadium to Southlands will mark a strategic step in embedding the Foundation at the heart of local communities. Indicative project costs are estimated to be £5,400,000, of which £4,500,000 will be funded by Middlesbrough Borough Council with the remaining balance to be paid by Middlesbrough Football Club Foundation, supported by contributions from the English Football League and Garfield Weston Foundation.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
PLANS FOR FUTURE PERIOD - continued.....
East Cleveland Centre - Loftus
In addition to our new headquarters and supported by Redcar & Cleveland Borough Council, we will expand our reach into East Cleveland with a state-of-the-art facility in Loftus, located on Ben Scott's Field off Westfield Way. Planning approval was granted in September 2024, and construction will progress toward completion in late summer 2026. The development will include a full-size 3G pitch, changing rooms, training spaces, and a central pavilion with multiuse rooms for community activities such as fitness classes, youth programmes, and education sessions. The site will also provide office space and a 54-space car park, ensuring accessibility for local residents. This investment will allow us to deliver inclusive programmes including Premier League Kicks, mentoring, and health initiatives, to thousands of people across East Cleveland each year. Indicative project costs estimated to be £3,500,000 with £2,500,000 funding by Middlesbrough Football Club Foundation from reserves accumulated from the East Cleveland donor, which the Trustees gratefully acknowledge, and £1,000,000 from the Football Foundation.
| Together, these projects will represent a significant commitment to our mission of raising | Together, these projects will represent a significant commitment to our mission of raising | aspirations, nurturing | aspirations, nurturing |
|---|---|---|---|
| potential, and improving health and wellbeing across Teesside. By creating modern, | accessible facilities | in | |
| Middlesbrough and East Cleveland, we will build strong foundations for long-term community engagement and | |||
| impact. | |||
| REFERENCE AND ADMINISTRATIVE DETAILS | |||
| Company registration number: | 03142447 | ||
| Charity registration number: | 1059418 | ||
| Registered office: | Brignell Road | ||
| Riverside Park Industrial Estate | |||
| Middlesbrough | |||
| TS2 1PS | |||
| Solicitors: | Ward Hadaway LLP | ||
| Tobias House | |||
| St Marks Court | |||
| Teesdale Business Park | |||
| Teesside | |||
| TS17 6QW | |||
| Bankers: | Barclays Bank Plc | ||
| PO Box 378 | |||
| 71 Grey Street | |||
| Newcastle upon Tyne | |||
| NE99 1JP | |||
| Auditors: | Anderson Barrowcliff Limited | ||
| 3 Kingfisher Court | |||
| Bowesfield Park | |||
| Stockton on Tees | |||
| TS183EX |
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
DIRECTORS AND TRUSTEES
The Directors of the Foundation are its Trustees for the purpose of Charity Law.
The Directors and Trustees of the Foundation who held office during the year are as follows:
==> picture [421 x 279] intentionally omitted <==
----- Start of picture text -----
|||||||||
|---|---|---|---|---|---|---|---|
|Trustees:|J|Baker|-|Chairperson|(resigned|31/01/2026)|
|N|J|Bausor|
|JR|Bloom|
|Fr A|Gaunt|
|J|Fryett|
|M|Simpson|- appointed|14/04/2025|(Appointed|
|Chairperson|01/02/2026)|
|GJ|Redman|
|P|Rowley OBE|
|H|Bowman|
|T|Riordan|
|N|Emmerson|(appointed|14/04/2025)|
|K|Gibson|(resigned|19/05/2025)|
|Secretary:|N Jackson|
|Ambassadors:|A|Bibby|
|Key|Management|Personnel:|
|Head|of Foundation|L|Edwards|(resigned|04/10/2024)|
|Acting|Head|of Foundation|C|McManus|(appointed|04/10/2024,|resigned|
|06/06/2025)|
|Head|of Foundation|C|Dinsdale|(appointed|09/06/2025)|
----- End of picture text -----
STRUCTURE, GOVERNANCE AND 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 governed by its Memorandum and Articles of Association, dated 29 December 1995 and amended on 2 October 2012, and again on 24 January 2019.
Recruitment, Induction, Training and Development
The Foundation was established by Middlesbrough Football Club who support the Foundation. The appointment of the Foundation’s Trustees is made by the Foundation’s Board of Directors. Trustees meet all new Board appointments who are presented with induction material, which 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 induction ofall new Trustees to ensure they could familiarise themselves with the Foundation and are aware of their roles and responsibilities going forward. All Directors are encouraged to undertake further training as identified by periodic skills reviews.
Organisational Structure
The Board of Trustees, outlined in the reference information above, meet as a minimum quarterly to discuss the performance of the Foundation. There are three Trustee-led Committees, of which the Head of Foundation and other members of the Senior Management 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.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee) Trustees Report for the Year Ended 31 August 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT - continued....
Remuneration Policy 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 basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are given in note 13 and 23 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.
Risk 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 extensively seeking further grant opportunities, as local government and councils have fewer funds available for the scope of services which the Foundation performs. The Foundation hasa 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 has use of the name and badge of Middlesbrough Football Club and occupies part of the Riverside Stadium. The Trustees are grateful for the administration services and use of facilities donated by Middlesbrough Football Club. The value of these services in the year totalled £307,098.
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 Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the situation 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
to-:
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e select suitable accounting policies and then apply them consistently;
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e observe the methods and principles in the Charities SORP; e make judgements and estimates that are reasonable and prudent;
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e state whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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¢ prepare the financial statements 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 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.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Trustees Report for the Year Ended 31 August 2025
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
We, the Trustees of the Foundation who held office at the date of approval of these financial statements, as set out above, each confirm so far as we are aware, that:
- e there isno relevant audit information of which the Foundation’s auditors are unaware; and e the Trustees have taken all the steps that they ought to have taken as Directors to make ourselves aware of any relevant audit information and to establish that the Foundation’s auditors are aware of that information.
PUBLIC BENEFIT
The Foundation strives to understand the needs of the area and the communities living in them and looks for funding opportunities within the region’s business market.
By working 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 needs.
When reviewing the aims and objectives of the Foundation the Board of Trustees has referred to Charity Commission general guidance on Public Benefit and is satisfied that the Foundation meets Public Benefit requirements.
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 as Auditors will be put to the Board of Trustees.
On Behalf of the Board
M Simpson - Chairperson
Date: 2™4 March 2026
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Report of the Independent Auditor's to the Members of Middlesbrough Football Club Foundation
Opinion
We have audited the financial statements of Middlesbrough Football Club Foundation (the ‘charitable company) for the year ended 31 August 2025 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 Generally Accepted Accounting Practice), including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”.
In our opinion the financial statements:-
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give a true and fair view of the state of the charitable company’s affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 charitable company 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 trustees’ use of the going concern basis of accounting in the preparation ofthe 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 charitable company’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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditor's thereon.
Our opinion on the financial statements 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 information and, in doing so, consider whether the other information is materially inconsistent with the financial 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 fact. We have nothing to report in this regard.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Report of the Independent Auditor's to the Members of Middlesbrough Football Club Foundation
Opinions on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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- the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company’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
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 Auditors 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design 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 detecting irregularities, including fraud is detailed below.
Based on our understanding of the charity, we have considered applicable laws and regulations which may be fundamental to the charity's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Report of the Independent Auditor's to the Members of Middlesbrough Football Club Foundation
Auditors' responsibilities for the audit of the financial statements (continued)
We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
Audit procedures performed by the engagement team included:
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Enquiry of management and those charged with governance around actual and potential litigation and claims.
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- Enquiry of entity staffto 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 supporting documentation to assess compliance with applicable laws and regulations.
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Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
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Challenging estimates and judgements made by management in their significant accounting estimates.
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- 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 recognised in the correct period.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, 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 transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is 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 responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Now dA SS ss
David Norris FCCA (Senior Statutory Auditor) for and on behalf of Anderson Barrowcliff Limited Statutory Auditors
Chartered Accountants 3 Kingfisher Court Bowesfield Park Stockton on Tees TS18 3EX
Date: A Mody Ts
Page 14
Middlesbrough Football Club Foundation A Company Limited by Guarantee)
Statement of Financial Activities (including income and expenditure account) for the Year Ended 31 August 2025
| East | Total | Total | ||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Cleveland | Funds | Funds | ||
| Funds | Funds | Fund | 2025 | 2024 | ||
| Note | £ | £ | £ | £ | £ | |
| Income | ||||||
| Donations and legacies | 2 | 373,169 | - | 275,000 | 648,169 | 879,940 |
| Income from charitable activities | 3 | 568,828 | 1,010,310 | - | 1,579,138 | 1,596,326 |
| Other trading activities | 4 | 265,199 | - | - | 265,199 | 248,112 |
| Investment income | 5 | 153,045 | - | - | 153,045 | 189,990 |
| Total income | 1,360,241 | 1,010,310 | 275,000 | 2,645,551 | 2,914,368 | |
| Expenditure | ||||||
| Costs ofraisingfunds | 6 | 171,999 | - | - | 171,999 | 165,450 |
| Charitable activities | 7 | 944,182 | 1,011,951 | 599,845 | 2,555,978 | 2,443,818 |
| Total Expenditure | 1,116,181 | 1,011,951 | 599,845 | 2,727,977 | 2,609,268 | |
| Netgains / (losses) on investment assets | 23,947 | - | - | 23,947 | 40,141 | |
| Net income / (expenditure) | 268,007 | (1,641) | (324,845) | (58,479) | 345,241 | |
| Transfers between funds | 20 | (1,641) | 1,641 | - | - | - |
| Netmovement in funds | 266,366 | - | (324,845) | (58,479) | 345,241 | |
| Reconciliation of Funds | ||||||
| Funds brought forward at 1 September | 1,350,549 | - | 3,672,841 | 5,023,390 | 4,678,149 | |
| 2024 | ||||||
| Total funds carried forward at | 19 | 1,616,915 | - | 3,347,996 | 4,964,911 | 5,023,390 |
| 31August2025 | ———— | =——— | ——_ | Ss_ | a |
The notes on pages 18 to 29 form an integral part of these financial statements
Page 15
I.
Middlesbrough Football Club Foundation (A Company Limited by Guarantee) Registered Number: 03142447 Balance Sheet As At 31 August 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | e | |
| Non-Current Assets | |||||
| Tangible assets | 14 | 169,868 | 148,400 | ||
| Investments | 15 | 586,764 | 555,866 | ||
| 756,632 | 704,266 | ||||
| Current Assets | |||||
| Debtors | 16 | 358,654 | 433,048 | ||
| Cash at bank & in hand | 4,503,725 | 4,510,097 | |||
| 4,862,379 | 4,943,145 | ||||
| Creditors:Amounts falling due within one year | 17 | (366,138) | (352,726) | ||
| NetCurrent Assets | 4,496,241 | 4,590,419 | |||
| Total Assets Less Current Liabilities | 5,252,873 | 5,294,685 | |||
| Creditors: Amounts falling due aftermore than | |||||
| one year | 18 | (287,962) | (271,295) | ||
| NetAssets | 19 | 4,964,911 | 5,023,390 | ||
| Funds | |||||
| Restricted funds | 20 | - | - | ||
| East Cleveland fund | 20 | 3,347,996 | 3,672,841 | ||
| Unrestricted funds | 20 | 1,616,915 | 1,350,549 | ||
| TotalFunds | 19 | 4,964,911 | 5,023,390 |
The financial statements were approved by the Board of Trustees on 2™ March 2026 and signed on its behalf by
M Simpson Chairperson
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(
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The notes on pages 18 to 29 form an integral part of[these][financial][statements]
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Statement of Cash Flows for Year Ended 31 August 2025
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|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Note|£|£|
|Cash|from|operating|activities|27|(97,398)|76,917|
|Cash|flow from|investing|activities|
|Payments|to|acquire|tangible|fixed|assets|(55,068)|-|
|Proceeds|on|sale|of|listed|investments|160,712|156,962|
|Payments|on|acquisition|of|listed|investments|(167,663)|(172,687)|
|Interest|and|dividends|153,045|189,990|
|Net|cash|flow|provided|by|(used|in)|investing|activities|91,026|174,265|
|Change|in|cash|and|cash|equivalents|in|the|year|(6,372)|251,182|
|Cash|and|cash|equivalents|at|the|beginning|of the|year|4,510,097|4,258,915|
|Cash|and|cash|equivalents|at|the end|of the year|4,503,725|4,510,097|
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The notes on pages 18 to 29 form an integral part of these financial statements
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Notes to the Accounts for the Year Ended 31 August 2025
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1 ACCOUNTING POLICIES
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(a) General Information and basis of preparation Middlesbrough Football Club Foundation is a private company limited by guarantee registered in England and Wales. It is registered as a charity with the Charity Commission. The address of the registered office is given 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 per member of the Foundation.
The Foundation constitutes a public benefit entity as defined 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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Practice.
The financial statements are prepared in sterling which is the functional currency of the Foundation, rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Going concern The financial statements have been prepared on a going concern basis as the trustees consider that there are no material uncertainties 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.
(c) Income
Items of income are recognised and included in the SOFA when all the following criteria are met:-
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° The Foundation have entitlement to the funds; ° Any performance conditions attached to the item(s) of income have been met or are fully within the control of the Foundation.
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° There is sufficient certainty that receipt of the income is considered probable; and ° The amount can be measured reliably. Donations 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 conditions set out in the funding agreement.
Gifts in kind are included within donations in the SOFA at an estimate of the cost of providing the service. The equivalent cost is also included within resources expended.
Investment income is earned through shares held in an investment portfolio for investment purposes. It includes dividends and interest. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend income is recognised as the charity's right to receive payment is established.
There is no netting off of expenditure within the accounts.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Notes to the Accounts for the Year Ended 31 August 2025
1
ACCOUNTING POLICIES - continued
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(d) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 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 can be measured reliably. Irrecoverable VAT is included in expenditure against the relevant cost for which the expenditure was incurred. Expenditure is classified under the following headings:
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e Costs of raising funds are those incurred in attracting donations, and those incurred in trading activities that raise funds.
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° Charitable expenditure comprises those costs incurred by the Foundation in the delivery of its activities. It includes both costs which can be directly allocated to activities and those costs of an indirect nature.
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° 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.
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° Governance costs are those incurred in connection with compliance with constitutional and statutory requirements.
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(e) Fixed assets Fixed assets are stated at purchase cost together with any incidental costs of acquisition less accumulated depreciation. Assets are capitalised if they cost more than £500 and are expected 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:
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|---|---|---|---|---|---|---|---|---|---|
|Computer|equipment|33%|and|25%|per|annum|straight|line|
|Fixtures|and|fittings|33%,|20%|and|10%|per annum|straight|line|
|Leasehold|Land|and|buildings|—|over the|period|of the|lease|
|Motor|Vehicles|10%|per annum|straight|line|
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(f) Investments Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses)’ on investments in the SOFA if the shares are publicly traded or their fair value can otherwise be measured reliably.
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(g) 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 highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(i) 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 their settlement amount.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Notes to the Accounts for the Year Ended 31 August 2025
1 ACCOUNTING POLICIES - continued
- (j) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Foundation and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the 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.
(k) Financial instruments The Foundation only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction 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.
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(I) Operating leases Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
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(m) Pension scheme
The Foundation operates a fully insured, contributory defined contribution pension scheme for all employees. The Foundation contributions are charged to the SOFA in the period to which they relate.
(n) Judgements and key sources of estimation uncertainty In the application of the Foundation’s accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Page 20
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
2 DONATIONS AND LEGACIES
3
L
Notes to the Accounts for the Year Ended 31 August 2025
| DONATIONS ANDAND LEGACIES | |||||
|---|---|---|---|---|---|
| East | |||||
| Unrestricted | Restricted | Cleveland | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| Middlesbrough Football Club Gifts | |||||
| in kind | 307,098 | - | - | 307,098 | 302,773 |
| Donations | 66,071 | - | 275,000 | 341,071 | 577,167 |
| 373,169 | - | 275,000 | 648,169 | 879,940 |
The £307,098 gift in kind costs (2024: £302,773) donated by Middlesbrough Football Club is an estimate of the value of staff time and donated facilities provided to Middlesbrough Football Club Foundation. The associated expenses are included within the Sports Participation costs as detailed in note 6.
The restricted donation £275,000 (2024: £535,826) has been requested to be spent in East Cleveland.
Income from donations and legacies for 2024 was £577,167 of which £535,826 was attributable to East Cleveland, ENil restricted and £41,341 was attributable to unrestricted.
INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | 2025 | 2024 | |
| £ | £ | , | £ | |
| Education and Employability | - | 264,678 | 264,678 | 308,647 |
| Sport and Physical Activity | 563,879 | - | 563,879 | 541,417 |
| Health and Wellbeing | 4,949 | 196,109 | 201,058 | 179,379 |
| Social Inclusion and Community Cohesion | - | 549,523 | 549,523 | 566,883 |
| 568,828 | 1,010,310 | 1,579,138 | 1,596,326 |
Income from charitable activities for 2024 was £1,596,326 of which £1,042,792 was attributable to restricted and £553,534 was attributable to unrestricted.
4 INCOME FROM OTHER TRADING ACTIVITIES
| Unrestricted | Restricted | 2025 | 2024 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Fundraising activities: | ||||
| Fundraising | 212,651 | - | 212,651 | 193,809 |
| Sundry income | 52,548 | - | 52,548 | 54,303 |
| 265,199 | - | 265,199 | 248,112 |
Income from other trading activities for 2024 was £248,112 all of which was attributable to unrestricted.
Page 21
5
6 COSTS OF RAISING FUNDS
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Notes to the Accounts for the Year Ended 31 August 2025
INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Interest - Deposits | 141,052 | - | 141,052 | 166,782 |
| Dividends - Equities | 11,993 | - | 11,993 | 23,208 |
| 153,045 | - | 153,045 | 189,990 |
Investment income for 2024 was £189,990 all of which was attributable to unrestricted.
| COSTS OF RAISING FUNDS | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Fundraising activities: | ||||
| Staff costs | 124,553 | - | 124,553 | 115,332 |
| Equipment and consumables | 10,523 | - | 10,523 | 36,587 |
| Promotions & Events | 26,726 | - | 26,726 | 2,973 |
| Travel and tours | 1,238 | - | 1,238 | 1,190 |
| Other costs | 8,491 | - | 8,491 | 9,322 |
| Training | 468 | - | 468 | 46 |
| 171,999 | - | 171,999 | 165,450 |
Costs of raising funds for 2024 was £165,450 all of which was attributable to unrestricted.
Page 22
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
[
Notes to the Accounts for the Year Ended 31 August 2025
7 EXPENDITURE ON CHARITABLE ACTIVITIES
| Social | ||||||
|---|---|---|---|---|---|---|
| Education | Sport | Inclusion | ||||
| and | and | Health | and | |||
| Employ- | ——Physical | and | Community | Total | Total | |
| ability | Activity | Wellbeing | Cohesion | 2025 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Staff Costs | 229,141 | 233,139 | 254,733 | 390,698 | 1,107,711 | 1,187,950 |
| Equipment & consumables | 9,081 | 3,567 | 8,757 | 20,806 | 42,211 | 38,590 |
| Travel &Tours | 7,448 | - | 21,234 | 17,406 | 46,088 | 42,292 |
| Depreciation | 6,786 | - | 13,835 | 12,979 | 33,600 | 110,737 |
| Premises costs | 9,164 | 110,174 | 37,432 | 83,224 | 239,994 | 265,810 |
| Training | 447 | 795 | 673 | 4,334 | 6,249 | 14,119 |
| Events | 3,129 | - | 1,540 | 3,307 | 7,976 | 22,393 |
| Other Costs | 2,402 | 33,823 | 59,895 | 18,834 | 114,954 | 95,187 |
| 3G Pitches Sinking Fund | - | 36,000 | - | - | 36,000 | 36,000 |
| Loftus development costs | - | 91,798 | - | - | 91,798 | : |
| Grants (note 9) | - | 158,575 | - | - | 158,575 | - |
| Support costs (see below) | 159,533 | - | 118,203 | 331,219 | 608,955 | 592,618 |
| Governance costs (note 8) | 16,208 | - | 12,009 | 33,650 | 61,867 | 38,122 |
| 443,339 | 667,871 | 528,311 | 916,457 | 2,555,978 | 2,443,818 | |
| SUPPORT COSTS | ||||||
| Staff costs | 68,605 | - | 50,832 | 142,437 | 261,874 | 218,157 |
| General office costs | 14,282 | - | 10,582 | 29,652 | 54,516 | 77,370 |
| Equipment & consumables | 650 | - | 482 | 1,350 | 2,483 | 16,602 |
| Other costs | 643 | - | 476 | 1,334 | 2,453 | 1,595 |
| Events | 33,595 | - | 24,891 | 69,749 | 128,235 | 123,152 |
| Premises costs | 41,758 | - | 30,940 | 86,697 | 159,394 | 155,742 |
| 159,533 | - | 118,203 | 331,219 | 608,955 | 592,618 |
Expenditure on charitable activities was £2,555,978 (2024: £2,443,818) of which £1,61 1,796 (2024: £1,486,184) was attributable to restricted and £944,182 (2024: £957,634) was attributable to unrestricted.
8
GOVERNANCE COSTS
| GOVERNANCE COSTS | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Staff costs | 29,523 | 26,308 |
| Trustees insurance | 1,493 | 1,432 |
| Bank charges | 932 | 957 |
| Legal fees | 19,755 | 185 |
| Audit & accountancy fees | 10,164 | 9,240 |
| 61,867 | 38,122 |
Page 23
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
9
10 NET INCOME FOR THE YEAR
11
Notes to the Accounts for the Year Ended 31 August 2025
ANALYSIS OF GRANTS
| ANALYSIS OF GRANTS | ||
|---|---|---|
| Amount | Amount | |
| awarded | awarded | |
| Recipients ofinstitutional grants | 2025 | 2024 |
| £ | £ | |
| Redcarand Cleveland Borough Council | 158,575 | - |
| 158,575 | - |
On 14 March 2025 the charity entered into a funding and collaboration agreement with Redcar and Cleveland Borough Council with the purpose of constructing a community sports facility on Ben Scott's Field, Loftus. Further details regarding the construction of the sports facility can be found in the trustee's report, page 8.
This is stated after charging:-
| This is stated after charging:- | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation | 33,600 | 110,737 |
| Auditors remuneration - for audit | 10,000 | 9,000 |
| Operating lease rentals - equipment | 2,330 | 2,204 |
| STAFF COSTS | ||
| 2025 | 2024 | |
| £ | E | |
| Wages & salaries | 1,313,048 | 1,306,089 |
| Social Security costs | 124,125 | 91,503 |
| Pension costs | 37,804 | 32,767 |
| 1,474,977 | 1,430,359 |
No employee received more than £60,000 per annum (2024: One employee received between £70,001 - £80,000 per annum)
The average monthly head count for the year was 66 (2024: 71).
12
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 Act 1992, to the extent that such income or gains are applied to exclusively charitable purposes.
13 TRUSTEES’ AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES
None of the Trustees received any remuneration in the year (2024: Enil). None of the Trustees had expenses in the year (2024: Enil).
The total amount of employee benefits received by key management personnel is £84,855 (2024: £61,639). The Foundation considers its key management personnel comprise the Chief Executive/Head of Foundation. There is 1 (2024 - 1) key management person accruing pension arrangements.
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
15
Notes to the Accounts for the Year Ended 31 August 2025
14 TANGIBLE FIXED ASSETS
| Leasehold | ||||||
|---|---|---|---|---|---|---|
| Land | Fixtures | |||||
| Assets under | and | and | Computer | Motor | ||
| Construction | Buildings | Fittings | Equipment | Vehicles | Total | |
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 September 2024 | - | 668,176 | 52,273 | 38,322 | 146,637 | 905,408 |
| Additions | 52,873 | - | - | 2,195 | - | 55,068 |
| Disposals | - | - | - | - | - | - |
| At 31 August 2025 | 52,873 | 668,176 | 52,273 | 40,517 | 146,637 | 960,476 |
| Depreciation | ||||||
| At 1 September 2024 | - | 668,173 | 32,400 | 12,647 | 43,788 | 757,008 |
| Provided during year | . | 2 | 6,293 | 12,641 | 14,664 | 33,600 |
| At 31 August2025 | - | 668,175 | 38,693 | 25,288 | 58,452 | 790,608 |
| Net Book Value | ||||||
| At 31 August 2025 | 52,873 | 1 | 13,580 | 15,229 | 88,185 | 169,868 |
| At31August2024 | - | 3 | 19,873 | 25,675 | 102,849 | 148,400 |
All tangible fixed assets were used for charitable purposes.
Assets under construction represent costs towards the development of the new headquarters at Southlands. Once the building has been completed, the costs will be reclassified to leasehold land and buildings and depreciated in line with the length of the lease. Further details regarding this development can be found in page 7 of the trustees report.
INVESTMENTS
Investments are stated at fair value as at 31 August 2025 and comprise the following: -
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Listed Investments | 576,920 | 539,084 | |
| Cash held within investment portfolio | 9,844 | 16,782 | |
| 586,764 | 555,866 | ||
| Balance as at | 1 September 2024 | 555,866 | 500,000 |
| Additions | 167,663 | 172,687 | |
| Increase in market value of investments | 20,321 | 39,280 | |
| Disposals | (160,712) | (156,962) | |
| Profit on disposal of investments | 3,626 | 861 | |
| 586,764 | 555,866 |
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Le
Notes to the Accounts for the Year Ended 31 August 2025
16 DEBTORS
| 16 | DEBTORS | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors | 200,388 | 147,928 | |
| Prepayments and accrued income | 158,266 | 285,120 | |
| 358,654 | 433,048 | ||
| 17 | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors | 106,467 | 68,071 | |
| Other taxes & social security | 51,552 | 6,023 | |
| Accruals | 24,845 | 38,312 | |
| Other creditors | 1 | 1 | |
| Deferred income | 183,273 | 240,319 | |
| 366,138 | 352,726 | ||
| 18 | CREDITORS:AMOUNTS FALLING DUEAFTER MORETHAN ONE YEAR | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Deferred income | - | 19,333 | |
| Other creditors | 287,962 | 251,962 | |
| 287,962 | 271,295 |
Deferred income comprises funding received in advance for projects over a specific time period which overlaps the year end.
19 ANALYSIS OF NET ASSETS
Fund balances 31 August 2025 are represented by:-
| Un- | East | ||||
|---|---|---|---|---|---|
| restricted | Restricted | Cleveland | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| Tangible fixed assets | 81,683 | - | 88,185 | 169,868 | 148,400 |
| Investments | 586,764 | - | - | 586,764 | 555,866 |
| Current assets | 1,419,295 | 183,273 | 3,259,811 | 4,862,379 | 4,943,145 |
| Creditors falling due within oneyear | (182,865) | (183,273) | - | (366,138) | (352,726) |
| Creditors falling due afteroneyear | (287,962) | - | - | (287,962) | (271,295) |
| 1,616,915 | - | 3,347,996 | 4,964,911 | 5,023,390 |
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
20 ANALYSIS OF MOVEMENT IN FUNDS
|
Notes to the Accounts for the Year Ended 31 August 2025
| Un- | East | ||||
|---|---|---|---|---|---|
| restricted | Restricted | Cleveland | 2025 | 2024 | |
| £ | £ | £ | £ | £ | |
| At 1 September 2024 | 1,350,549 | - | 3,672,841 | 5,023,390 | 4,678,149 |
| Incoming resources | 1,360,241 | 1,010,310 | 275,000 | 2,645,551 | 2,914,368 |
| Outgoing resources | (1,116,181) | (1,011,951) | (599,845) | (2,727,977) | (2,609,268) |
| Gross transfers between funds | (1,641) | 1,641 | - | - | - |
| Gains / (losses) | 23,947 | - | - | 23,947 | 40,141 |
| At31August2025 | 1,616,915 | - | 3,347,996 | 4,964,911 | 5,023,390 |
21 SHARE CAPITAL
The Foundation does not have any share capital and is limited by guarantee. The members of[the][Foundation] are directors and their guarantee is limited to £1.
22 RESTRICTED FUNDS FROM CHARITABLE ACTIVITIES
| Social | |||||
|---|---|---|---|---|---|
| Inclusion | |||||
| Education | Sport | Health | and | ||
| and Employ- | and Physical | and | Community | ||
| ability | Activity | Wellbeing | Cohesion | Total | |
| £ | £ | £ | £ | £ | |
| Balance at 1 September 2024 | - | - | - | - | - |
| Received in year | 264,678 | - | 196,109 | 549,523 | 1,010,310 |
| Expended in year | (266,319) | - | (196,111) | (549,521) | (1,011,951) |
| Gross transfers between funds | 1,641 | - | 2 | (2) | 1,641 |
| Balanceat31August2025 | - | - | - | - | - |
The monies received 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 received 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 was granted 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 Mental 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:
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Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
23
|
24
Notes to the Accounts for the Year Ended 31 August 2025
22 RESTRICTED FUNDS FROM CHARITABLE ACTIVITIES - continued
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 funded for a social inclusion programme for families living in houses managed by the company. Whilst the Football Foundation provided grant funding for the Active Through Football programme
RESTRICTED FUNDS FROM DONATIONS - EAST CLEVELAND FUND
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Balance at 31 August 2024 | 3,672,841 | 3,580,409 |
| Received in year | 275,000 | 535,826 |
| Expended in year | (599,845) | (443,394) |
| Balanceat31August2025 | 3,347,996 | 3,672,841 |
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.
RELATED PARTY TRANSACTIONS
During the year Middlesbrough Football Club provided donated services, staff and facilities to the value of £307,098 (2024: £302,773).
At 31 August 2025 the Foundation owed £31,250 (2024: £5,370) to Middlesbrough Football Club. The Foundation provided £34,734 (2024: £32,945) of sundry services to Middlesbrough Football Club and was provided with £101,656 (2024: £128,705) of sundry services from Middlesbrough Football Club.
ULTIMATE CONTROLLING PARTY
The Trustees control the Foundation by virtue of their appointment to the board.
25 PENSION COSTS
The Foundation operatesa fully insured contributory defined contribution pension scheme for all employees. The charge for the year amounted to £37,804 (2024: £32,767). The amount outstanding at 31 August 2025 was £12,204 (2024: £6,123).
26
FUNDING COMMITMENTS
On 14 March 2025 Middlesbrough Football Club Foundation entered into a funding agreement with Redcar and Cleveland Borough Council in connection with the construction ofacommunity sports facility. At 31 August 2025 £158,575 of funding had been approved and paid to the Council. The Foundation agreed, subject to specified conditions and approvals, to fund excess costs not met by the Football Foundation’s capital grant during the grant funding period to 30 June 2027. At 31 August 2025, no further liabilities had been recognised in respect of excess costs because the Council's subsequent claims had not yet been determined, or Middlesbrough Football Club Foundation approval had not been given.
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27 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Middlesbrough Football Club Foundation (A Company Limited by Guarantee)
Notes to the Accounts for the Year Ended 31 August 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Net income foryear | (58,479) | 345,241 |
| Interest and dividends shown in investing activities | (153,045) | (189,990) |
| (Gains)/losses on investments | (23,947) | (40,141) |
| Add back depreciation of tangible fixed assets | 33,600 | 110,737 |
| (Increase)/Decrease in debtors | 74,394 | (251,258) |
| Increase/(Decrease) in creditors | 30,079 | 102,328 |
| Netcashflowfromoperatingactivities | (97,398) | 76,917 |
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