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2021-08-31-accounts

Company number: 3441666 Charity number: 1071766

Leyton Orient Trust

Report and financial statements For the year ended 31 August 2021

Leyton Orient Trust

Contents

For the year ended 31 August 2021

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ....................................................................................................... 19 Statement of financial activities (incorporating an income and expenditure account) ................... 23 Balance sheet ............................................................................................................................... 24 Statement of cash flows ................................................................................................................ 25 Notes to the financial statements ................................................................................................. 26

Leyton Orient Trust

Reference and administrative information

For the year ended 31 August 2021

Company number 3441666 Country of incorporation United Kingdom Charity number 1071766 Country of registration England & Wales Registered office and operational address SCORE 100 Oliver Road Leyton London E10 5JY

Trustees Trustees, who are also directors under company law, who served during the Trustees, who are also directors under company law, who served during the
year and up to the date of this report were as follows:
P Argall Chair
N F Gerrard Vice Chair
J C E Farmer Treasurer
A S Tobias Resigned July 2021
Cllr. R Sweden
D E Griggs
U Sharif Resigned October 2021
M Taylor
L Broughan
C Curry
R Edwards
T Sahota
Key management Neil Taylor Chief Executive
personnel
Bankers HSBC Bank plc
192 Hoe Street
Walthamstow
London
E17 4QN
Solicitors Muckle LLP
Time Central
32 Gallowgate
Newcastle upon Tyne
NE1 4BF

1

Leyton Orient Trust

Reference and administrative information

For the year ended 31 August 2021

Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON EC1Y 0TL

2

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

The trustees present their report and the audited financial statements for the year ended 31 August 2021.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The aim of the Charity is to benefit the inhabitants of Greater London and, in particular, benefit those inhabitants who are elderly, disabled, unemployed, girls, women, or those who are from minority ethnic groups, by providing and assisting in the provision of services and facilities for sport, recreation and learning for the said inhabitants in the interest of social welfare and education and so that their condition of life may be improved.

Leyton Orient Trust operates as a registered charity and company limited by guarantee. The Trust delivers a range of engagement and development programmes to communities based in Waltham Forest, Tower Hamlets, Hackney and Redbridge.

The vision of Leyton Orient Trust is: ‘Using the power of sport to improve life chances’

Its mission is to deliver and develop Health, Well Being, Educational Attainment and Employability programmes that are relevant, engaging and inspiring.

Since its creation in 1989 Leyton Orient Trust has invested over £30 million in North and East London touching the lives of over 100,000 people in that time.

Leyton Orient Trust aligns itself with the aims and objectives of Local, Regional and National Government; its agencies and the third and community sector where appropriate and of mutual benefit, in particular, in the London Boroughs of Hackney, Redbridge, Tower Hamlets and Waltham Forest.

As a result, Leyton Orient Trust delivers the following programmes:

Youth Engagement and Mentoring Projects such as:

3

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Social Action Programmes such as the National Citizens Service – in partnership with NCS Trust and EFL Trust.

Education, Training and Health projects such as:

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Beneficiaries of Trust services

The Beneficiaries of the services of the Trust continue to be residents of the London Boroughs of Hackney, Redbridge, Tower Hamlets and Waltham Forest and predominantly those in need or experiencing some form of deprivation. The report below demonstrates the range of work designed to engage and support the Beneficiaries:

Achievements and performance

The backdrop for the year continued to be the pandemic and lockdowns casting a shadow on the work and the communities that the Trust supports. From September to December 2020 all programmes returned to face-to-face delivery but were then paused or moved online from December 2020- March 2021. Since April 2021 more sessions and activities opened up, and since July 2021 full face to face work has returned. The Trust is conscious that the pandemic is not over and continues to be cautious, respectful of individual needs and boundaries and promoting safe distancing, mask wearing where appropriate and promoting vaccination campaigns.

The Trust started the financial year in a good position both from a governance perspective and operationally. In October 2020 the Board approved a two-year Business Plan which would focus on

4

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

areas of improvement and growth and the structure required to deliver it. The Board has continued to measure the progress of this work – which is reflected in the impact report.

The Trust has also been working with partners on developing and being part of new programmes. These included:

The Income from these programmes is included in Community Projects, unrestricted funds under other funders.

The Trust would like to thank the following Funders for their continued support.

BBC Children in Need

Big Issue Invest Department for Work and Pensions English Skills Funding Agency Essex and Southend Sports Trust EFL Trust Ferrero Football Foundation London Borough of Waltham Forest London Marathon Charitable Trust London Playing Fields Foundation Mayor of London Violent Reduction Unit Professional Football Association NCS Trust New Era Foundation Northeast London Foundation Trust Premier League Charitable Fund Sport England Substance University of South Wales Waltham Forest College Women in Sport

5

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Leyton Orient Trust Impact Analysis

6

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 HEALTHY SCHOOLS Ne•lthi Schools. The Tru￿ delhers¢l•$3r•tym Ib•8ed r•xl PE Ktl¥lts • Ptiffl￿ Sth¢•Dl •¢tMsW•l¢lw) Forex. dbrldg¢ M•¢kney4nd Tower Hamlets t¥(￿Sh the Primary stars 14•) en8a8ed Z2 r)artnered xhools 38 Leaclrs en8aged 32 ￿te￿Il(￿lS 8 LifferefK sthoc45. rsa¥￿ pariK1p￿T￿.

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 YOUTH ENGAGEMENT P¢rts icks 1432 engaged panicipants Walthbm Forest Hollday W•ltkam for••t Actmty and Food Pro8r•mme EWittt ) l'oung Icr low • fOrmAr￿n arK1 ￿PPOr[ I

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 icks TARGETED KICKS CHANCES PROGIIAMME pryafflfflt in p•rtnership wlth Swi Ensl•Thl. S4thtance. lftdofved i(tTS pro8r¥rd -.¥.ulIyYfefe(f￿ ¥iL1 $1 rrifthw sel refttral

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 Further and Hlgher Educatlon courses 16 Stsjdents stlKI￿ •1 Sts￿ert$ 3Ct*d a In all 8TEC Ith 6 Iof uni¥ersty andw accewd for a Otrtrnl 94% •L UnfveTsrty ol 5￿th Wales Prify5901 ?e Cvmru

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 SOCIAL ACTION Sor￿[ Actlon- The Trustdel¥ers Joclal aalon w¢¥ramrnes encoutiglng and empowln8 peop to learn •bcArt thoffl#l¥osand hov1￿4 a poJltl¥élffw th the T￿1.: Nryj pro8ramrne ￿pP￿¢[l 9 commthlty zroup. lo￿ hours Spèfrt on plafflirg dehN¥.'1S11> knia. ￿. 190 èngwd y￿lS people t￿1•7 aLrtumn 2020 diid suiriiiiyl LOL I r.rT¥4f*l Sk1115 ￿rtk1PartS gained from thi proJTafflm• 67% 83% 79%

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 HEALTh ENGAGEMENT prry•mmestht help tht £ombNrity Ifflwo¥e ihtlr physlul n•Ental ht4ltsL Ptojects Induot: 30 eryged partripar 93 Tho rrTrJp lty a tia of 124.1ks crynW•J the c6ramme I￿1￿lu31 washt1055 wa5 1ACKiE INVGHT ytyrnrnt Oeltr¥ered In p•rthtrshlp Wtsi H•rn. rnn•l•nd NtLFf 10'1'DUlYa pwple wyaged In the W￿arnme

Leyton Orlent Trust Trustees, annual report For the year ended 31 August 2021 comNGTH￿G C, FOOTBALL CLUB LIAISOM

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Financial review

The Board has been focused on continuing improving the financial position of the Trust so that it can effectively weather expected and unexpected challenges. The Board has therefore developed and adopted a Business Plan which includes focusing on creating sustainable surpluses and gradually building up reserves to withstand any current and future shocks. The results achieved this year are therefore encouraging and indicate that the Trust is on the right path.

In terms of income there has been an increase of over £168,746 mainly due to taking on new projects such as Chances, Advantage and Divert Mentoring Programmes as well as improving contract agreements with Waltham Forest College and other significant partners.

Strong systems have been put in place to understand and control expenditure and due to the work of the Finance Team clear and concise budgets are now produced which are worked through with project holders and key staff.

Risks

The Trust maintains a risk register which focus on the key risks to the Charity, mainly focused on risks to income but also wider partnership risks and challenges. These are reviewed monthly by the Finance Committee and quarterly by the Board and Quality Assurance Committee. All committees also receive programme updates to ensure that targets are being met and on course. Given the regularity of meetings the Board can respond quickly to risks and challenges. This has been seen most recently through the Trust’s response to the Pandemic and what impact this would have operationally, strategically and financially. The Board also recognise that there is increased pressure and competition for funding and that there is a higher expectation on impact. Many contracts are now payment by result and on an individual case by case basis. In response the Trust has developed stretch testing which forensically examines each funding stream – how it is performing, and the risks attached.

Reserves policy and going concern

The Trust reviews and examines the expected level of incoming resources and outgoing expenditure on a quarterly basis. Reserves need to be retained to ensure the Trust can meet its obligations in the short term. The Trust is of the opinion that the level of reserves appropriate to meet efficiently the needs of the charity should equal the average expenditure incurred over six to nine months of activities.

As at 31st August 2021 unrestricted funds stood at £687,920 less fixed assets £34,941, leaving free reserves of £652,979. This is equivalent to approximately 8.5 months of the projected expenditure for 2021/22. The Trust therefore consider that the level at the year-end is adequate to meet the continuing commitments in the forthcoming year.

14

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

The trustees have reviewed the current reserves position along with confirmed income for the next 12 months and consider the organisation will be able to continue operating for at least one year from when the accounts have been signed.

Plans for the future

Leyton Orient Trust is a strong and successful organisation which is well equipped and ready to meet the challenges that the future may bring and are able, due to our flexibility as a charity, to reposition to respond effectively. As such the Trust will be using the early part of 2022 to strategically review what has worked and lessons learnt from the 2019-2022 period and to put in place for 2022-2025 a detailed and robust business plan.

Fundraising

The Trust is not currently a fundraising charity, with income deriving from local government, premier league and other grants. As indicated in the Business Plan 2020-2022 fundraising is targeted as an activity with a Trustee working group established to oversee progress made. As part of this the Trust has registered with the fundraising regulator.

Structure, governance and management

Leyton Orient Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29 September 1997, as amended by Special Resolution dated 2 September 1998. The members have each undertaken to contribute no more than £1 to the charity's assets in the event of the company being wound up. It is registered as a charity with the Charity Commission.

The charity is an incorporated company limited by guarantee and is registered with the Charity Commission under the registered number 1071766 and with Companies House 3441666.

Board of Trustees and Directors

The Directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Below is a list of the Trustees that served in the year under review.

Neil Gerrard John Farmer
Marshall Taylor Alan Tobias
Deborah Griggs Cllr Richard Sweden
Umbar Sharif Peter Argall
Tejpal Sahota Linda Broughan
Collette Curry Robert Edwards

15

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Trustees are appointed by the charity. Trustees are required to retire from office on a rotational basis and may be re-elected for a further term.

Appointment of Trustees

All new Trustees are recruited externally with a transparent application, shortlisting and interview process led by the Chair and Chief Executive. Once the process is complete the Chair and Chief Executive present their recommendations to the full Board for consideration, approval and adoption if deemed suitable and appropriate.

Induction and training of new trustees

New Trustees are informed of their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Organisational structure

The Board of Trustees administers the charity. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees for operational matters.

The Chief Executive of the Charity reports directly to the Trustees on a quarterly basis. The Chief Executive is responsible for managing staff. The charity is funded to undertake and deliver projects from organisations based in either the statutory, voluntary or commercial sector. Annually the Trust reviews all staff positions and personnel which it reflects on and makes appropriate changes in responsibility and remuneration.

The Trust also externally reviews the appropriate pay and conditions for staff every three years through the Trust’s HR Advisor to ensure that it remains competitive and in line with the wider industry.

Related parties

None of the Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee and senior manager of the charity with a service provider or supplier to the charity must be disclosed to the full Board of Trustees in the same way as any other. Due to its connection with Leyton Orient Football Club the Club is deemed to be a related organisation. They jointly share one Director who sits on both Boards.

16

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Statement of responsibilities of the trustees

The trustees (who are also directors of Leyton Orient Trust for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 August 2021 was 12 (2020:11). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

17

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2021

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 19 January 2022 and signed on their behalf by

John Farmer Treasurer

Peter Argall Chair

18

Independent auditor’s report

To the members of

Leyton Orient Trust

Opinion

We have audited the financial statements of Leyton Orient Trust (the ‘charitable company’) for the year ended 31 August 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Leyton Orient Trust'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.

19

Independent auditor’s report

To the members of

Leyton Orient Trust

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 trustees’ annual report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

20

Independent auditor’s report

To the members of

Leyton Orient Trust

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

21

Independent auditor’s report

To the members of

Leyton Orient Trust

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. This 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 auditor’s report.

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.

Joanna Pittman (Senior statutory auditor) 10 February 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

22

Leyton Orient Trust

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 August 2021

Note
Income from:
2
3
3
3
3
4
5
6
6
6
6
Reconciliation of funds:
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward
Sports development
Total expenditure
Net income / (expenditure) for the year
7
Investments
Total income
Expenditure on:
Charitable activities
Education and Training
Health projects
Community projects
Sports development
Health projects
Other activities
Education and training
Community projects
Donations and legacies
Charitable activities		 Unrestricted
£
6,659
80,555
43,597
576,711
124,335
-
3,927		 Restricted
£
-
138,700
-
1,000
70,000
-
-		 2021
Total
£
6,659
219,255
43,597
577,711
194,335
-
3,927		 Unrestricted
£
7,962
20,723
21,473
460,646
137,791
3,000
5,643		 Restricted
£
-
137,250
-
2,250
80,000
-
-		 2020
Total
£
7,962
157,973
21,473
462,896
217,791
3,000
5,643
835,784 209,700 1,045,484 657,238 219,500 876,738
62,852
31,313
469,786
96,251		 148,587
-
1,251
79,405		 211,439
31,313
471,037
175,656		 8,837
19,854
406,754
121,687		 138,300
-
1,796
80,074		 147,137
19,854
408,550
201,761
660,202 229,243 889,445 557,132 220,170 777,302
175,582 (19,543) 156,039 100,106 (670) 99,436
(18,245) 18,245 - - - -
157,337
530,583		 (1,298)
100,617		 156,039
631,200		 100,106
430,477		 (670)
101,287		 99,436
531,764
687,920 99,319 787,239 530,583 100,617 631,200

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17a to the financial statements.

23

Leyton Orient Trust

Company no. 3441666

Balance sheet

As at 31 August 2021

Note
£
Fixed assets:
12
Current assets:
13
176,273
509,102
227,260
912,635
Liabilities:
14
(160,337)
17a
687,920
Total unrestricted funds
Net current assets
Debtors
Creditors: amounts falling due within one year
Restricted income funds
Unrestricted income funds:
The funds of the charity:
Total net assets
General funds
Total charity funds
Cash at bank and in hand
Short term deposits
Tangible assets		 Note
£
Fixed assets:
12
Current assets:
13
176,273
509,102
227,260
912,635
Liabilities:
14
(160,337)
17a
687,920
Total unrestricted funds
Net current assets
Debtors
Creditors: amounts falling due within one year
Restricted income funds
Unrestricted income funds:
The funds of the charity:
Total net assets
General funds
Total charity funds
Cash at bank and in hand
Short term deposits
Tangible assets		 2021
£
34,941		 £
117,238
354,085
254,932		 2020
£
16,446
34,941
752,298		 16,446
614,754
912,635
(160,337)		 726,255
(111,501)
687,920 530,583
787,239 631,200
99,319
687,920		 100,617
530,583
787,239 631,200

Approved by the trustees on 19 January 2022 and signed on their behalf by

Peter Argall Chair

John Farmer Treasurer

24

Leyton Orient Trust

Statement of cash flows

For the year ended 31 August 2021

Note
£
£
Cash flows from operating activities
Net income / (expenditure) for the reporting period
156,039
(as per the statement of financial activities)
Interest received
(3,927)
Depreciation charges
16,890
Loss on disposal of fixed assets
736
Short Term Deposit Movement
(155,017)
(Increase)/decrease in debtors
(59,035)
Increase/(decrease) in creditors
48,836
Net cash provided by / (used in) operating activities
4,522
(36,121)
3,927
(32,194)
(27,672)
254,932
227,260
At 1
September
2020
Cash flows
£
£
Cash at bank and in hand
254,932
(45,298)
a
Total cash and cash equivalents
254,932
(45,298)
Analysis of cash and cash equivalents and of net debt
2021
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash provided by / (used in) investing activities
Cash flows from investing activities:
Purchase of fixed assets
Interest received		 Note
£
£
Cash flows from operating activities
Net income / (expenditure) for the reporting period
156,039
(as per the statement of financial activities)
Interest received
(3,927)
Depreciation charges
16,890
Loss on disposal of fixed assets
736
Short Term Deposit Movement
(155,017)
(Increase)/decrease in debtors
(59,035)
Increase/(decrease) in creditors
48,836
Net cash provided by / (used in) operating activities
4,522
(36,121)
3,927
(32,194)
(27,672)
254,932
227,260
At 1
September
2020
Cash flows
£
£
Cash at bank and in hand
254,932
(45,298)
a
Total cash and cash equivalents
254,932
(45,298)
Analysis of cash and cash equivalents and of net debt
2021
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash provided by / (used in) investing activities
Cash flows from investing activities:
Purchase of fixed assets
Interest received		 Note
£
£
Cash flows from operating activities
Net income / (expenditure) for the reporting period
156,039
(as per the statement of financial activities)
Interest received
(3,927)
Depreciation charges
16,890
Loss on disposal of fixed assets
736
Short Term Deposit Movement
(155,017)
(Increase)/decrease in debtors
(59,035)
Increase/(decrease) in creditors
48,836
Net cash provided by / (used in) operating activities
4,522
(36,121)
3,927
(32,194)
(27,672)
254,932
227,260
At 1
September
2020
Cash flows
£
£
Cash at bank and in hand
254,932
(45,298)
a
Total cash and cash equivalents
254,932
(45,298)
Analysis of cash and cash equivalents and of net debt
2021
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash provided by / (used in) investing activities
Cash flows from investing activities:
Purchase of fixed assets
Interest received		 £
£
99,436
(5,643)
7,871
-
(4,085)
8,921
(80,859)
25,641
(7,400)
5,643
(1,757)
23,884
231,048
254,932
Other non-
cash
changes
At 31
August
2021
£
£
17,626
227,260
17,626
227,260
2020		 £
£
99,436
(5,643)
7,871
-
(4,085)
8,921
(80,859)
25,641
(7,400)
5,643
(1,757)
23,884
231,048
254,932
Other non-
cash
changes
At 31
August
2021
£
£
17,626
227,260
17,626
227,260
2020
4,522
(32,194)		 25,641
(1,757)
At 1
September
2020
£
254,932		 Other non-
cash
changes
£
17,626
(27,672)
254,932		 23,884
231,048
227,260 254,932
Cash flows
£
(45,298)		 At 31
August
2021
£
227,260
254,932 (45,298) 17,626 227,260

25

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

a) Statutory information

Leyton Orient Trust is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address is SCORE Building, 100 Oliver Road, Leyton, London, E10 5JY.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

The charity meets the definition of a public benefit entity under FRS 102.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Where services had to be suspended due to the Covid-19 restrictions, the charity was able to put some staff on furlough. The charity has been able to continue operating throughout the pandemic and the trustees expect to be able to continue to do so in the foreseeable future.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

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

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

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

26

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

h) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between charitable activities on the basis of area of literature occupied by each activity.

Community projects 30%
Sports development 5%
Education and training 33%
Health projects 24%
Support costs 3%
Governance costs 5%

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on income, of the amount attributable to each activity.

Community projects 21%
Sports development 4%
Education and training 56%
Health projects 19%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

27

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

3 years 6.6 years 4 years

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

o) Cash at bank and in hand

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.

p) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

q) Financial instruments

The charity 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.

r) Pensions

The Charity only offers a defined contribution pension scheme to employees. The scheme is administered by Now Pensions.

2 Income from donations and legacies

Income from donations and legacies
Gifts
Legacies
Donated Equipment		 Unrestricted
£
1,659
-
5,000		 £
-
-
-
Restricted		 2021
Total
£
1,659
-
5,000		 Unrestricted
£
2,962
-
5,000		 £
-
-
-
Restricted		 2020
Total
£
2,962
-
5,000
6,659 - 6,659 7,962 - 7,962

28

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

Income from charitable activities
Premier League Charitable Fund
EFL Trust
LB Waltham Forest
HMRC CJRS
Other
Sub-total for Community Projects
LB Waltham Forest
EFL Trust
HMRC CJRS
Other
Sub-total for Sports Development
Waltham Forest College
Premier League Charitable Fund
EFL Trust
HMRC CJRS
Other
Sub-total for Education & Training
Premier League Charitable Fund
EFL Trust
HMRC CJRS
Other
Sub-total for Health Projects
Total income from charitable activities		 Unrestricted
£
-
12,648
38,643
4,514
24,750		 £
124,200
-
-
-
14,500
Restricted		 2021
Total
£
124,200
12,648
38,643
4,514
39,250		 Unrestricted
£
-
6,390
-
7,718
6,615		 £
125,000
-
-
-
12,250
Restricted		 2020
Total
£
125,000
6,390
-
7,718
18,865
80,555
40,175
2,515
41
866		 138,700
-
-
-
-		 219,255
40,175
2,515
41
866		 20,723
18,300
869
1,405
899		 137,250
-
-
-
-		 157,973
18,300
869
1,405
899
43,597
413,994
-
145,804
2,341
14,572		 -
-
-
-
-
1,000		 43,597
413,994
-
145,804
2,341
15,572		 21,473
343,895
-
86,713
10,546
19,492		 -
-
-
-
-
2,250		 21,473
343,895
-
86,713
10,546
21,742
576,711
-
31,456
7,406
85,473		 1,000
70,000
-
-
-		 577,711
70,000
31,456
7,406
85,473		 460,646
-
22,951
26,555
88,285		 2,250
70,000
-
-
10,000		 462,896
70,000
22,951
26,555
98,285
124,335 70,000 194,335 137,791 80,000 217,791
825,198 209,700 1,034,898 640,633 219,500 860,133

Grants of £14,302 (2020: £46,224) from HMRC were received for the Job Retention Scheme.

4
Income from other activities
5
Income from investments
Deposit Account Interest Received
Leyton Orient Football Club		 Unrestricted
£
-		 £
-
Restricted		 2021
Total
£
-		 Unrestricted
£
3,000		 £
-
Restricted		 2020
Total
£
3,000
- - - 3,000 - 3,000
Unrestricted
£
3,927		 £
-
Restricted		 2021
Total
£
3,927		 Unrestricted
£
5,643		 £
-
Restricted		 2020
Total
£
5,643
3,927 - 3,927 5,643 - 5,643

29

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

6a Analysis of expenditure (current year)

Charitable activities

Staff costs (Note 8)
Direct Costs - Venue Hire
Direct Costs - Clothing
Direct Costs - Other
Support Costs - Rent & Service Charges
Support Costs - Computer Expenses
Support Costs - Audit Fees
Support Costs - Legal Fees
Support Costs - Other
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020		 Community
Projects
£
143,109
16,579
60
29,771
2,117
540
-
-
-		 Sports
Development
£
12,344
6,650
-
8,489
-
-
-
-
-		 Education &
Training
£
276,965
9,740
27,507
56,483
35,163
14,117
-
-
-		 Health
Projects
£
148,672
1,782
-
6,495
1,588
45
-
-
-		 Governance
costs
£
12,216
-
-
-
-
-
8,818
3,155
-		 Support
costs
£
34,718
-
-
-
3,472
12,210
-
-
16,640		 2021
Total
2020
Total
£
£
628,024
603,362
34,751
18,057
27,567
32,919
101,238
46,420
42,340
30,869
26,912
19,059
8,818
8,882
3,155
2,304
16,640
15,430
889,445
777,302
-
-
-
-
889,445
777,302
192,176
14,155
5,108		 27,483
2,814
1,016		 419,975
37,523
13,539		 158,582
12,548
4,526		 24,189
-
(24,189)		 67,040
(67,040)
-
211,439 31,313 471,037 175,656 - -
147,137 19,854 408,550 201,761 - -

30

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

6b Analysis of expenditure (prior year)

Staff costs (Note 8)
Direct Costs - Venue Hire
Direct Costs - Clothing
Direct Costs - Other
Support Costs - Rent & Service Charges
Support Costs - Computer Expenses
Support Costs - Audit Fees
Support Costs - Legal Fees
Support Costs - Other
Support costs
Governance costs
Total expenditure 2020		 Charitable activities Governance
costs
£
12,912
-
-
-
-
-
8,882
2,304
87		 Support
costs
2020
Total
£
£
53,319
603,362
-
18,057
-
32,919
-
46,420
4,373
30,869
9,592
19,059
-
8,882
-
2,304
15,343
15,430
82,627
777,302
(82,627)
-
-
-
-
777,302
Community
Projects
£
112,447
4,346
5,117
4,607
1,118
-
-
-
-		 Sports
Development
£
12,393
3,480
-
1,330
-
-
-
-
-		 Education &
Training
£
260,224
6,161
27,762
22,993
24,539
9,407
-
-
-		 Health
Projects
£
152,067
4,070
40
17,490
839
60
-
-
-
127,635
15,086
4,416		 17,203
2,051
600		 351,086
44,453
13,011		 174,566
21,037
6,158		 24,185
-
(24,185)
147,137 19,854 408,550 201,761 -

31

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2021 2020
£ £
Depreciation 16,890 7,871
Loss on disposal of assets 736 -
Operating lease rentals payable:
Property 42,340 30,869
Auditor's remuneration (excluding VAT):
Audit 7,350 7,200

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Employer’s contribution to defined contribution pension schemes
Social security costs		 2021
£
574,270
43,858
9,896		 2020
£
549,190
46,922
7,250
628,024 603,362

Following a re-structure of the senior management team there were redundancy costs of £1,614 and other termination costs of £7,688.

No employee earned more than £60,000 during the year (2020: nil).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £57,626 (2020: £51,864).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

Trustees' were not reimbursed any expenses for travel and subsistence (2020: £0).

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 36 (2020: 33).

Staff are split across the activities of the charity as follows:

Staff are split across the activities of the charity as follows:
Support
Community Projects
Health Projects
Sports Development
Education & Training
Governance		 2021
No.
10.8
1.8
12.1
8.6
2.7
0.3		 2020
No.
11.2
0.8
9.8
9.3
1.8
0.3
36.3 33.2

32

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

10 Related party transactions

There was one related party transaction with Leyton Orient Football Club for a group workshop for £500 for 2021 (2020: none).

Aggregate donations from related parties were £nil (2020: £350).

11 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12 Tangible fixed assets

At the start of the year
Charge for the year
At the end of the year
At the start of the year
Additions in year
Disposals in year
At the start of the year
Eliminated on disposal
At the end of the year
Net book value
At the end of the year
Cost
Depreciation		 Fixtures and
fittings
£
13,224
-
(4,693)		 Computers &
equipment
£
35,165
36,121
(16,863)		 Total
£
48,389
36,121
(21,556)
8,531 54,423 62,954
6,542
712
(4,555)		 25,401
16,178
(16,265)		 31,943
16,890
(20,820)
2,699 25,314 28,013
5,832 29,109 34,941
6,682 9,764 16,446

All of the above assets are used for charitable purposes.

13 Debtors

Debtors
Trade debtors
Prepayments
Accrued income		 2021
£
48,923
4,150
123,200		 2020
£
66,435
28,293
22,510
176,273 117,238

33

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Accruals
Deferred income (note 15)
Trade creditors
Taxation and social security		 2021
£
36,759
27,462
55,105
23,176
17,835		 2020
£
11,072
26,641
44,364
13,082
16,342
160,337 111,501

15 Deferred income

Deferred income comprises Income received in advance for projects to be delivered in a future accounting period.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2021
£
16,342
(16,342)
17,835		 2020
£
100,250
(100,250)
16,342
17,835 16,342

16a Analysis of net assets between funds (current year)

Net assets at 31 August 2020
Net assets at 31 August 2021
Analysis of net assets between funds (prior year)
Net current assets
Tangible fixed assets
Net current assets
Tangible fixed assets		 General
unrestricted
£
29,842
658,078		 Restricted
£
5,099
94,220		 Total
funds
£
34,941
752,298
687,920 99,319 787,239
General
unrestricted
£
13,354
517,229		 Restricted
£
3,092
97,525		 Total
funds
£
16,446
614,754
530,583 100,617 631,200

16b Analysis of net assets between funds (prior year)

34

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

17a Movements in funds (current year)

Movements in funds (current year)
Restricted funds:
Total restricted funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds:
Education & Training
Health
Sports Development
Community Projects		 At 1
September
2020
£
100,237
-
454
(74)		 Income &
gains
£
138,700
-
1,000
70,000		 Expenditure
& losses
£
(148,587)
-
(1,251)
(79,405)		 Transfers
£
-
-
-
18,245		 At 31 August
2021
£
90,350
-
203
8,766
100,617 209,700 (229,243) 18,245 99,319
530,583 835,784 (660,202) (18,245) 687,920
530,583 835,784 (660,202) (18,245) 687,920
631,200 1,045,484 (889,445) - 787,239

The narrative to explain the purpose of each fund is given at the foot of the note below.

17b Movements in funds (prior year)

Total restricted funds
General funds
Unrestricted funds:
Health
Sports Development
Community Projects
Restricted funds:
Total funds
Education & Training
Total unrestricted funds		 At 1
September
2019
£
101,287
-
-
-		 Income &
gains
£
137,250
-
2,250
80,000		 Expenditure
& losses
£
(138,300)
-
(1,796)
(80,074)		 Transfers
£
-
-
-
-		 At 30 August
2020
£
100,237
-
454
(74)
101,287 219,500 (220,170) - 100,617
430,477 657,239 (557,133) - 530,583
430,477 657,239 (557,133) - 530,583
531,764 876,739 (777,303) - 631,200

35

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2021

17 Movements in funds (continued)

Purposes of restricted funds

Community projects - projects are run to provide positive opportunities and experiences for disadvantaged people within the community. The objectives of the projects are to reduce anti-social behaviour, youth crime, enhance community cohesion, encourage good citizenship and provide volunteering and employment opportunities for young people. Funding is also provided to ensure the player pathway for female footballers is in place. Projects receiving funding include; PL Kicks and Girls & Women. Funding bodies vary from The Premier League Charitable Fund, Local Authorities, Big Lottery Fund, Football Authorities and grant giving Trusts.

Education and training - this relates to coaching programmes and services provided to schools and higher education bodies, as well as general health and education activities and initiatives. Funding bodies vary from Local Authorities, Football Authorities and grant giving Trusts.

Sports Activities - projects are run to address social inclusion and provide positive opportunities and experiences for disadvantaged and hard to engage young people. This is done through offering a range of sports based youth diversionary activities. Funding was received from Interactive UK in respect of the Inclusive project.

Health projects – this relates to funding which supports general health and education activities and initiatives. Funding was received from Schools, EFL and grant giving Trusts.

18 Operating lease commitments payable as a lessee

The charity has no lease commitments The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year
One to five years
Over five years		 2021
2020
£
£
3,528
3,528
-
-
-
-
3,528
3,528
Property		 2021
2020
£
£
3,528
3,528
-
-
-
-
3,528
3,528
Property		 2021
2020
£
£
-
-
-
-
-
-
-
-
Equipment		 2021
2020
£
£
-
-
-
-
-
-
-
-
Equipment
3,528 3,528 - -

19 Capital commitments

At the balance sheet date, the charity had committed to £nil (2020: £9,845) in respect of Promethean Interactive Panels. These will be used to enable interactive learning for the college programme.

20 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

36