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← Leyton Orient Trust

2024-08-31-accounts

Company number: 3441666 Charity number: 1071766

Leyton Orient Trust

Report and financial statements For the year ended 31 August 2024

Leyton Orient Trust

Contents

For the year ended 31 August 2024

Reference and administrative information ........................................................................... 1 Trustees’ annual report ....................................................................................................... 3 Independent auditor’s report ............................................................................................. 18 Statement of financial activities (incorporating an income and expenditure account) ....... 22 Balance sheet ................................................................................................................... 23 Statement of cash flows ..................................................................................................... 24 Notes to the financial statements ...................................................................................... 25

Leyton Orient Trust

Reference and administrative information

For the year ended 31 August 2024

Company number 3441666 Country of incorporation United Kingdom Charity number 1071766 Country of registration England & Wales Registered office and Brisbane Road operational address London E10 5NF Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

J C E Farmer Treasurer Cllr. R Sweden D E Griggs M Taylor C Curry T Sahota Resigned as Chair July 2024 B Mistry V Wood D Victor Chair Appointed Chair July 2024 Z Mirza Cllr U Rasool K Kaye J Innes M Devlin Appointed January 2024 A Tobias Appointed July 2024

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 2024

Auditor

Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane LONDON EC1Y 0TG

2

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

The trustees present their report and the audited financial statements for the year ended 31 August 2024.

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 £40 million in North and East London touching the lives of over 110,000 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 2024

Social Action Programmes such as the National Citizens Service – in partnership with London Youth 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 Trust started the financial year in a good position both from a governance perspective and operationally. In July 2022 the Board approved a three-year Business Plan which focuses on 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.

4

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

The Trust has also been working with partners on developing and being part of new programmes, which has mainly focused on jointly developing and delivering the Community Health Champions Programme with Waltham Forest Council.

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

Big Issue Invest Bounce Back English Skills Funding Agency Essex and Southend Sports Trust EFL In the Community Ferrero London and Quadrant London Borough of Redbridge London Borough of Waltham Forest London Marathon Charitable Trust London Playing Fields Foundation Mayor of London Violent Reduction Unit NCS Trust Northeast London Foundation Trust Osmani Trust Peabody Portal Trust Premier League Charitable Fund Professional Football Association Sport England Substance Waltham Forest College

5

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

Leyton Orient Trust Impact Analysis

6

Leyton Orient Trust

For the year ended 31 August 2024

Trustees’ annual report

7

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

8

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

9

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

10

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

11

Leyton Orient Trust

For the year ended 31 August 2024

Trustees’ annual report

12

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

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.

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. 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 of 31st August 2024 (Total) funds stood at £1,049,706, less fixed assets £86,973, leaving free reserves of £962,733. This is equivalent to approximately 9 months of the projected expenditure for 2024/25. The Trust therefore consider that the level at the year-end is adequate to meet the continuing commitments in the forthcoming year.

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.

13

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

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 has 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 2022-2025 fundraising is targeted as an activity. 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.

John Farmer Vincent Wood
Marshall Taylor Deborah Griggs
Cllr Richard Sweden Kelly Kaye
Tejpal Sahota Jamie Innes
Collette Curry Mark Devlin
Bhumika Mistry Alan Tobias
Dave Victor Cllr Uzma Rasool
Zabin Mirza

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.

14

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

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 and the Club’s Chief Executive who sit on both Boards.

15

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

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 2024 was 15 (2022: 9). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

16

Leyton Orient Trust

Trustees’ annual report

For the year ended 31 August 2024

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 1[st] February 2025 and signed on their behalf by

John Farmer Treasurer

Dave Victor Chair

17

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 2024 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.

18

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:

19

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:

20

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)

Date: 4 February 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

21

Leyton Orient Trust

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

For the year ended 31 August 2024

For theyear ended 31 August 2024
Note
Income from:
2
3
3
3
3
4
5
5
5
5
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
6
Investments
Total income
Expenditure on:
Charitable activities
Education and Training
Health projects
Community projects
Sports development
Health projects
Education and training
Community projects
Donations and legacies
Charitable activities		 Unrestricted
£
-
157,126
83,962
736,706
90,372
34,444		 Restricted
£
-
160,211
-
849
79,564
-		 2024
Total
£
-
317,338
83,962
737,554
169,936
34,444		 Unrestricted
£
2,417
246,073
60,750
537,024
158,697
18,479		 Restricted
£
-
157,298
-
600
75,000
-		 2023
Total
£
2,417
403,371
60,750
537,624
233,697
18,479
1,102,610 240,624 1,343,233 1,023,438 232,898 1,256,336
141,536
71,685
677,720
115,820		 194,478
-
826
80,346		 336,014
71,685
678,545
196,166		 195,046
38,972
529,935
140,425		 178,759
-
-
72,448		 373,805
38,972
529,935
212,873
1,006,761 275,650 1,282,411 904,378 251,207 1,155,586
95,849 (35,026) 60,822 119,060 (18,309) 100,750
- - - - - -
95,849
916,918		 (35,026)
71,965		 60,822
988,883		 119,059
797,859		 (18,309)
90,274		 100,750
888,133
1,012,767 36,939 1,049,706 916,918 71,965 988,883

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 16a to the financial statements.

22

Leyton Orient Trust

Company no. 3441666

Balance sheet

As at 31 August 2024

As at 31 August 2024 As at 31 August 2024
Note
£
Fixed assets:
11
Current assets:
12
142,077
536,982
642,283
1,321,343
Liabilities:
13
(358,610)
16a
1,012,767
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		 2024
£
86,973		 £
152,067
536,982
452,253		 2023
£
18,934
86,973
962,733		 18,934
969,949
1,321,343
(358,610)		 1,141,302
(171,353)
1,012,767 916,918
1,049,706 988,883
36,939
1,012,767		 71,965
916,918
1,049,706 988,883

Approved by the trustees on 1 February 2025 and signed on their behalf by

Dave Victor Chair

John Farmer Treasurer

23

Leyton Orient Trust

Statement of cash flows

For the year ended 31 August 2024

For the year ended 31 August 2024
Cash flows from operating activities
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Interest received
Depreciation charges
Loss on disposal of fixed assets
Short Term Deposit Movement
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by / (used in) operating activities
Cash at bank and in hand
Total cash and cash equivalents
Analysis of cash and cash equivalents and of net debt
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		 £
£
60,822
(34,444)
18,019
1,652
9,990
187,256
243,294
(87,708)
34,444
(53,264)
190,030
452,253
642,283
At 1 September
2023
Cash flows
£
£
452,253
170,359
452,253
170,359
2024		 £
£
100,750
(18,479)
19,238
-
(24,192)
13,542
(8,590)
82,268
(11,338)
18,479
7,141
89,409
362,844
452,253
Other non-
cash
changes
At 31 August
2024
£
£
19,671
642,283
19,671
642,283
2023
243,294
(53,264)		 82,268
7,141
At 1 September
2023
£
452,253		 Other non-
cash
changes
£
19,671
190,030
452,253		 89,409
362,844
642,283 452,253
Cash flows
£
170,359		 At 31 August
2024
£
642,283
452,253 170,359 19,671 642,283

24

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

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.

c) Public benefit entity

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.

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.

e) Income 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.

g) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

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.

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

 Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose

 Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs 

Other expenditure represents those items not falling into any other heading

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

25

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

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 24%

 Sports development 5%

 Education and training 51%

 Health projects 20%

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.

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

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:

 Office Equipment and Computers  Fixtures and Fittings  Motor Vehicles

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.

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
2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Gifts - - - - - -
Legacies - - - - - -
Donated Equipment - - - 2,417 - 2,417
- - - 2,417 - 2,417

26

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

For the year ended 31 August 2024
3
Income from charitable activities
Premier League Charitable Fund
EFL Trust
LB Waltham Forest
West Ham United Foundation
Lottery Fund
NELFT
Substance
Bounce Back Foundation
Other
Sub-total for Community Projects
LB Waltham Forest
London Bourgh Redbridge
Other
Sub-total for Sports Development
Waltham Forest College
Premier League Charitable Fund
EFL Trust
Portal Trust
Other
Sub-total for Education & Training
Premier League Charitable Fund
EFL Trust
London Playing Fields
LB Waltham Forest
London Playing Fields
Other
Sub-total for Health Projects
4
Total income from charitable activities
Income from investments
Deposit Account Interest Received		 Unrestricted
£
-
4,382
-
-
3,199
45,000
45,105
43,438
16002		 £
130,000
-
-
-
-
-
-
-
30,211
Restricted		 2024
Total
£
130,000
4,382
-
-
3,199
45,000
45,105
43,438
46,213		 Unrestricted
£
-
-
25,088
-
-
45,000
91,753
42,049
42,183		 £
135,287
-
800
-
-
-
-
-
21,211
Restricted		 2023
Total
£
135,287
-
25,888
-
-
45,000
91,753
42,049
63,394
157,126
26,306
52,840
4,816		 160,211
-
-
-		 317,338
26,306
52,840
4,816		 246,073
36,216
-
24,534		 157,298
-
-
-		 403,371
36,216
-
24,534
83,962
525,135
-
36,289
13,896
161,385		 -
-
-
849		 83,962
525,135
-
36,289
13,896
162,234		 60,750
385,279
-
51,276
100,468		 -
-
-
600		 60,750
385,279
-
51,276
101,068
736,706
-
1,000
-
50,598
-
38,774		 849
75,000
-
-
-
-
4,564		 737,554
75,000
1,000
-
50,598
-
43,338		 537,024
-
1,340
-
122,868
22,285
12,204		 600
75,000
-
-
-
-
-		 537,624
75,000
1,340
-
122,868
22,285
12,204
90,372 79,564 169,936 158,697 75,000 233,697
1,068,166 240,624 1,308,790 1,002,543 232,898 1,235,441
Unrestricted
£
34,444		 £
-
Restricted		 2024
Total
£
34,444		 Unrestricted
£
18,479		 £
-
Restricted		 2023
Total
£
18,479
34,444 - 34,444 18,479 - 18,479

27

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

5a Analysis of expenditure (current year)

the year ended 31 August 2024
Analysis of expenditure (current year)
Staff costs (Note 7)
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 2024
Total expenditure 2023		 Charitable activities Governance
costs
£
7,306
-
156
1,125
868
2,762
2,698
224
5,129		 Support
costs
£
21,917
-
468
3,374
2,604
8,285
8,095
673
15,387		 2024
Total
£
957,516
69,581
33,149
78,780
42,340
25,208
10,794
897
64,144		 2023
Total
£
876,647
53,442
15,236
72,917
42,340
23,650
10,679
627
60,048
Community
Projects
£
267,115
27,919
5,525
4,740
1,776
-
-
-
9,232		 Sports
Development
£
31,437
19,254
29
17,252
-
-
-
-
-		 Education &
Training
£
474,279
13,984
25,674
47,711
34,802
14,161
-
-
26,489		 Health
Projects
£
155,461
8,425
1,296
4,579
2,290
-
-
-
7,907
316,306
14,780
4,927		 67,972
2,784
928		 637,102
31,084
10,361		 179,959
12,156
4,052		 20,268
-
(20,268)		 60,803
(60,803)
-		 1,282,411
-
-		 1,155,586
-
-
336,013 71,684 678,547 196,167 - - 1,282,411 1,155,586
373,805 38,972 529,935 212,873 - -

28

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

5b Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff costs (Note 7)
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 2023		 Charitable activities Governance
costs
£
12,229
125
62
1,420
1016.21
2,709
2,670
157
6,171		 Support
costs
£
36,688
375
187
4,259
3,049
8,128
8,009
470
19,708		 2023
Total
£
876,647
53,442
15,236
72,917
42,340
23,650
10,679
627
60,048
Community
Projects
£
313,113
21,527
2,015
2,101
1,296
-
-
-
7,640		 Sports
Development
£
24,260
3,268
-
6,526
-
-
-
-
-		 Education &
Training
£
322,808
22,541
12,058
51,027
34,880
12,812
-
-
18,886		 Health
Projects
£
167,548
5,607
914
7,585
2,099
-
-
-
7,642
347,691
19,658
6,456		 34,054
3,703
1,216		 475,012
41,345
13,578		 191,395
16,168
5,310		 26,560
-
(26,560)		 80,873
(80,873)
-		 1,155,586
1
()
373,805 38,973 529,935 212,873 - - 1,155,587

29

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

This is stated after charging / (crediting):

Net income / (expenditure) for the year
This is stated after charging / (crediting):
2024 2023
£ £
Depreciation 18,019 19,238
Loss on disposal of assets 1,650 -
Operating lease rentals payable:
Property 42,340 42,340
Auditor's remuneration (excluding VAT):
Audit 9,500 8,900

7 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		 2024
£
873,286
68,873
15,357		 2023
£
800,149
62,734
13,764
957,516 876,646

There were no redundancy or termination costs in the year (2023: redundancy costs of £Nil and other termination costs of £Nil).

No employee earned more than £60,000 during the year 2023: nil.

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were 1 Employee 2024: £65,500 (2023: £60,193).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity 2024: £nil (2023: £nil)

Trustees' were not reimbursed any expenses for travel and subsistence 2024: £nil (2023: £nil).

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 55.9 in 2024 compared with (2023: 49.9).

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

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

2024 compared with (2023: 49.9).
Sports Development
Education & Training
Community Projects
Health Projects
Governance
Support		 2024
No.
24.0
0.9
23.0
3.9
3.2
1.0		 2023
No.
22.3
0.8
15.8
4.2
5.9
1.0
55.9 49.9

30

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

9 Related party transactions

There was one related party transaction with Leyton Orient Football Club in the year for purchase of student kit for £36,522.54 (2023: £8,998).

Aggregate donations from related parties were £nil (2023: £Nil).

10 Taxation

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

11 Tangible fixed assets

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
At the start of the year
Eliminated on disposal
At the end of the year
Net book value
At the end of the year
Additions in year
Disposals in year
Cost
Depreciation		 Fixtures and
fittings
£
8,531
58,740
(5,927)		 Computers &
equipment
£
75,356
28,968
-		 Total
£
83,887
87,708
(5,927)
61,344 104,324 165,668
4,897
1,099
(4,277)		 60,056
16,920
-		 64,953
18,019
(4,277)
1,719 76,977 78,695
59,625 27,348 86,973
3,634 15,300 18,934

All of the above assets are used for charitable purposes.

12 Debtors

Debtors
Accrued income
Trade debtors
Prepayments		 2024
£
35,961
32,800
73,316		 2023
£
51,890
33,879
66,299
142,077 152,067

31

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Taxation and social security
Accruals
Deferred income (note 14)
Trade creditors		 2024
£
46,844
44,172
73,660
51,509
142,426		 2023
£
14,296
35,379
56,312
49,394
15,972
358,610 171,353

14 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
Net assets at 31 August 2023
Net assets at 31 August 2024
Analysis of net assets between funds (prior year)
Net current assets
Tangible fixed assets
Net current assets
Analysis of net assets between funds (current year)
Tangible fixed assets		 General
unrestricted
£
86,973
925,794		 2024
£
15,972
(15,972)
142,426		 2023
£
19,069
(19,069)
15,972
142,426 15,972
Restricted
£
-
36,939		 Total
funds
£
86,973
962,733
1,012,767 36,939 1,049,706
General
unrestricted
£
18,934
897,984		 Restricted
£
-
71,965		 Total
funds
£
18,934
969,949
916,918 71,965 988,883

15a Analysis of net assets between funds (current year)

15b Analysis of net assets between funds (prior year)

32

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

16a Movements in funds (current year)

Movements in funds (current year)
Restricted funds:
Total restricted funds
General funds
Total unrestricted funds
Unrestricted funds:
Education & Training
Health
Community Projects
Total funds		 At 1
September
2023
£
61,429
3,153
7,384		 Income &
gains
£
160,211
849
79,564		 Expenditure
& losses
£
(194,478)
(826)
(80,346)		 Transfers
£
-
-
-		 At 31 August
2024
£
27,162
3,176
6,602
71,965 240,624 (275,650) - 36,939
916,918 1,102,610 (1,006,761) 1,012,767
916,918 1,102,610 (1,006,761) - 1,012,767
988,883 1,343,234 (1,282,411) - 1,049,706

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

16b Movements in funds (prior year)

Total restricted funds
General funds
Unrestricted funds:
Health
Community Projects
Education & Training
Restricted funds:
Total funds
Total unrestricted funds		 At 31 August
2022
£
82,890
-
7,384		 Income &
gains
£
157,298
600
75,000		 Expenditure
& losses
£
(178,759)
-
(72,448)		 Transfers
£
-
-
-		 At 31 August
2023
£
61,429
600
9,936
90,274 232,898 (251,207) - 71,965
797,859 1,023,438 (904,378) - 916,918
797,859 1,023,438 (904,378) - 916,918
888,133 1,256,336 (1,155,585) - 988,883

33

Leyton Orient Trust

Notes to the financial statements

For the year ended 31 August 2024

16 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.

17 Operating lease commitments payable as a lessee

The charity's total future minimum lease payments under non-cancellable operating leases is one month's premises rent of £3,528 which will end when the building is demolished in January 2025.

18 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.

34