REGISTERED COMPANY NUkqBER.: 04100611 REGISTERED CHARITY NUMBER.. 1088239 NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 •AD316KU2* 1310512024 COMPANIES HOUSE A5
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NORWICH CITY COMMUNITY SPORTS FOU.NDATION CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2023 Page Chairperson's Report 2023 Report of the Trustees 2107 Report of the Independent Auditors 81010 Consoliclaled Slalemenl of FinanciBI A¢bvilies 8alance Sheet Consolidated Balance Shepl 13 Consolidated Stalemenl ol Cashflows 14 Notes lo (he Financial Slaiemgnis 151028
NORWICH CITY COMMUNITY SPORTS FOUNDATION CHAIRPERSON'S REPORT 2023 The ever-growing work of NoNch City Community Sports Foundalion conlinues lo be a driving force in supporting and inspiring people across East Anglia. Our loui key impact areas remain Ihe same.. driving In¢lusion for people wlth disabllltles, boostlng mental health and wellbe5n9, ralslng aspirations for disadvantaged people, and engaglng the community. In 2023 we saw 43,23CI unique participants engaging with us for 681.557 hours. Whilst this is a significant increase from 2022 and a number that conlinues lo grow, we actually.measure ourselves against the true impact on those people. That Is what conlinues lo drive us fotward. Our wonderful, mulli-use lacillty ii) Nofwich, The Nesl. has now estsblished itself as an inlegral parl of the community since its opening. 11 has helped us extend our reach and open doors lo new programmes. people and provisions Ihal help lo ensure the suslainabilily and growth of the charity and facility it'self. rhe Nesl, which saw Ilie addilion ol a second 3G football pitch this year, has been ulili5ed by our lellow harilable loundalions, businesses, sports teams, school groups, Pfivale functions. children's birthday parties and n)uch more. 11 is also the proud home of Norwich City Women FC, who brovghl in a league-high avèrage home 8rtendanc8 of 333 tjuring th& lirsl hall of Ihe current 2023124 campaign. The hub also welcomed over 15,000 unique visitors last year and a lolal throughput ol over 136,000 hi9hlighting the community value of the sile. Run Norwlch gol back inlo its Slride this year with a record 6,777 people taking on the 1 OK roule through our line oly as Ihe race continues lo grow in popularity and Pfeslige. The 2024 evenl, which includes a Junlor lun run, sold out 8,500 place6 in record lime. On behalf of the Board of Truslees. I would also like lo Ihank Ihe incredible people who make wh81 we do possible through sponsoring, fundraising., and volunl6ering. Wllhoul these 5UPPJrtèrs, our imp8cI would ba greally reduced. Thank you all. The NOlCh City Commuiiily Sports Foundalion and The Nest family continue lo grow in staff. aiding our qualily and volume ol delivery Sn everything we do. Our people make us who we ale,. they drive, Ihey innovale, and they care. I would like lo Iliank all ol Ihem lor Iheir hard work and vital conlribulions as. we rellecl on another successful year ol ch8nging lives in Norfolk. Jake Hurnphr•y Chairperson Communlty Sports Foundatlon Page 1
NORWIC.H CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES for the yèar ended 31 December 2023 The Iwslees preseiil their report and the audited coiisolidaled financial slalemenls of Ihe charity lor the year ended 31 December 2023. Tlie Iruslees have adopted the provisions of Ihe Stalemenl of Recommei)ded Practice ISORP} °Accounling and Reporting by Charilies. IFRS 1021 in preparing the annual repori and financial 5talements ol the charity. The financial slalemenls have been prepared in accordance with the accounting policies s81 oul in notes lo the. financial sialemenls and comply with Ih.e charliy's governing document, the Charities Act 2011 and Accounting and.,Reporting by Charilies.. Statement of Recommended Pracb'ce applicable lo charilie5 preparing thèir accounts in accordance wlh the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland published on October 2019. 1. REFEREN¢E AND AOMINISTRATIVE DETAILS Registered Company number 04100611 (England and Wales) Registered Charity number 1088239 Reglstered offlce Norwich City Football Club C8rrow Road Norwich NorfolK NR,1. 1JE Trustees G L Orake J Humphrey P J Knowle5 T Smith EM Barham MRKerr Z Webber S George Audltors Sexly & Co Chartered Certrfied Accountants & Slalulory Auditors 124 Thorpe Road Norwich NR1 1RS Bankers Ba(clays Bank PLC 1 Cliurchill Place London E14 5HP Page 2
NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2023 2. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The organisalion is a charilable company liniiled by guarantee, incorporated or) 1 November 2000 and registered as a charity on 28 August 2001. The charitable company was eslablisheo under 8 Memorandum of Association, which established the obiecls and powars of the charitable company, and it is governed by its Articles of Association. In the event of the charitable company being wound up. merDbers are required lo rA)nlribule an amounl nol exceeding £1, during the period of their appoinlmenl as a member and for a period 0112 months after resignaiion. Appointmenl and training of new trustees The direclofs of the charitable company ar8 also Iruslees for the purposes of charity law. New Iruslees are elected by the members al a general meeting. Additionally. the Iruslees may appoint a further trustee or Iruslees. Under the Articles ol Association, each trustee is r8quired lo retire Irom office aftef (he third annual Iruslee meeling following the commencement ol their term, bul then shall be elogible lor reappoinlmenl. Due 10 the nature of the charity. the Board of Truslges is seleu8d based on Iheir experllse and th8lr ablllly lo contribute lo the lulure wellbeSn9 of the charity. New Iruslees are briefed on their legal obligations as a InJ¥teeldireclor under charity. and company law, the conlenl ol the charity's Memorandum and Articles of Association, the decision-making process, the business plan and SUPPOfling financial plans. Princlple rlsks and uncèrtainlies rhe key business dsks affeclSng the charlty relate lo Ils fundlng sources. operallonal financlal risks and project risks. The Board of Tiuslees and senior execullves review the risks of the charitable company on. a Tegular basis and have implemented policies and procedures lo miligale exposure to these risks, to ensure compliance with healih and salety sland8rds lor staff and scheme parli¢ipalors and to ensure that that 811 regulaiions regarding th8 manag8menl and ts)nlacl wllh children are adhered loo. In addition, 8 review of all financial risks is undertaken on a regular basi5. The main risk currently considered significant would be the reduction ol funding from any of the major grants currenlly received. This risk is ne9aled by the use of a funding fall off document lo ensure that ¢onlingency funding 15 identified to C¢)ver any changes. Organlsatlonal structure The 8oard of Truslees, lch has an independenl Chairman. meels regulai'ly lor formal board me8lings al which they receive (ielailed aclivily and financi81 r8porls. Thay also discuss key projects. 8nrJ ideas with the chaiily'b leadership team. agree and review policies, review piogress and nionilor perforrnan. The board includes direclors and senior rnanagement of Nonwich City Football Club PIC and Irusl8es wil.h specific expertise from both private and public sector organisalions. The Chief Execullve, lan Thornton, oversees the day-to-day running ol Ihe organisalion. Page 3
NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES - CONTINUED lor the year ended 31 December 2023 3. OBJECTIVES AND ACTIVITIES The charitable company's objeclives 8nd principal a¢livilie5 are delivered lor the benelil ol children, youi)g people and adults in Norfolk and other counties in East Alia. regafd18ss ol race, sex. Creed. or social baLkground. The chafilable company's objectlves are.. lo provid8 inclusive environments for all to enjoy Ihe physical, mental, and social benefits ol sport. lo use the power of sport and Norwich City Football Club to engage wilh hafd-lo-re8ch groups and Inspire Ihem lo raise their aspirations, reach their polenlial, and lo achieve more. lo provide affordable services that achieve widespread community impacl while supporting the charitable company's suslainabilily. lo provide and assist In providing facilities for sport, r8crealion or other leisure lime occupation ol such persons who have need for such lacililies by reason ol Ilieir youth. age, infirmily or disablement, financial hardship, poverty or social and economic circumstances or lor Ihe public ai large in the inleresl of Social welfare and with the object of irnpfoving life condilioiis. for the general purposes of such ch8rilable boclies or for such other exclusively charliable purpose$ In each case as Ihe Iruslees may from lime lo lime decide. The Iruslees have referred lo the Charity Commission's guidancg on reporting on PLtblic benelil Iseclion 17 of Chafilies Act 2011) when reviewing th8 chafily's aims and objeclives, and when planning the charity's acllvllles. The trusl&es are Iherelore confldenl that the charlly meets the PLiblic ben8fil requlremenls. 4. ACHIEVEMENT AND PERFORMANCE The chairman has sel out in his reporl. Ihe achievemenls and performance uf Ihe charilable cornpany. The charity's work is focused around delivering qualily projects Ihal prornole sporl, leislire and education opportunllles base¢J on Ihe communlly's needs. Thes8 ac1fv1118s form part of a plan movlng lorward that Is bulll around the foundation5 of slrong and meaningful partnerships. S. FINANCIAL REVIEW The resulis lor Ihe year are sel out on page 11 of Ihe finailcial slalernenls. The nel incoming resoufces for the year amounted lo £236,202 all ol which related lo unreslricled operations. The charity operates in an environment that is challenging whefe granl funding remains difficult as competition now exists Irom other non-profit making organisalions. Resarves Policy Unrestricted The charitable company's unre51ricled reserves afe represented, in the majority. by cash al bank and In hand. Due lo fluclualions in income. Ihe trustees consider Ihal unreslricled reseNes should be enough lo cover the charitable company's planneo expenditure lor a pefiod of a minimum of four months where possible. Unrestricted reserves at the year.end were £2.636,045, a value thal is more than the minimum level prescribed by the Iruslees. P.age 4
NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES- CONTINUED for the year ended 31 December 2023 FINANCIAL REVIEW Icontinuedl Desi The charitable company has esiablished a deslgnaled fund reserve to sel aside amounts for the future mainlonance and replacement ol pitches al Carrow Park. The chafity has eslablished a designaled.slaff fund reseNe lo prov.ide for the possibility Whe , if a restricted programme funding falls off and is not replaced in the short term, before se¢urlng further lunding for. Ihls programme, we ar8 able lo ¢onlinue Ihe effecl of delivering Ihe pro9ramme and susiaining the. projects that it is involved in. e Iricte Raslriclèd reseThes represent monies recaiv8d by the chariiable company for various projects (as delai18d later in the financial slalemen15). These funds are polenlially refundable lo the providers as they are condllional upon the income being used for specified purposes. Sources of Fundlng The charily receives funding Irom lour main sources., participanl conlribulion on activity prograrnmes.. comm81¢ial sponsof5hip,' grants from chafllable Iruslslloundations,. and donations. The charilable company's primary sources ol funding are: Th8 grants received from local and nallonal organlsalions who have conlribuled funding and sUPPOrt towards the many and varied projects undertaken, Durlng the year Ihe charlly received £2,055,831 {2022; £2,294.6091 Ihrcugh gfanl and conlr8cI funding. 11. The charity holds soGcer ancl school 8clivilies, which include soccer schoo15, after school clubs .and. developmenl centres. Durlng Iho y8af the tharlty generated £2,383.52512022: £1,985'.6091 from théso aclivilies. Investment Polley The IStee5 ar8 einpowèied 10 invesi funds in a mannei appropriate. having regard lo the security of any inveslmenls made and the fequiremenls ol the Charity Commissioner's order. 6. PLANS FOR FUTURE PERIODS The charity is actively looking to increase Ihe la¢ility operation Opllons al ils community hub The Nest. 8y the end of 2024 additional indoor space will be considered as part of the next phases of development at the sile. Any addittonal phases of development al the site wlll add to Ihe opporlunilies ol engagement available to beneficiaries ol the sile. The piimary objective of the charity's lundraising aclSvity will once again become 10 support and sustain lis community delivery. The charity will continue lo id&nlity and develop programmes to tackle social issues in Nortoik, working in partnership wilh many key organisalions.
NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES - CONT.INUED for the year ended 31 December 2023 7. FUNO.RAISING STANOARDS INFORMATION Tha char.ity'approaches fundraising through an in-house fundraising team. They laciliiale evenis throughout the yeaf for the purpose ol raising funding for The Foundation. There is no 3rd party laciliialion in the delivery ol Ihese events. T,here were no volunlary schemes th81 gUlated the fund-rai8ii)g acbvilips during Ihe year. Ouring the .year there. were sigrdficaiil efforts by. The Peaky Climbers 10 raise lund5 for the Foundalion. this was followed.by the fundraising team, who also.gave their support lo the ev8nl. Th8re wer& no cornplaints received during the year regarding the conduct of participanls or Ihe Foundation in relation lo t.he fund-raising Ihal was carried out durlng the year. .The cliafily will ne.ver ask m8inb8rs ol the publiL lo lake parl in il's even¢s wilhoul their coi)senl. The charity operales on the basis Ihal p8rticipanls will willingly sign up lo and parlicip8le in the events Ih81 ere gvailable lo lake part in and will never be asked lo donale money or olhef property lo the Foundatson Ilial is beyond their rneans. All participant data is stored in compliance with The Foun¢Jalion's GOPR policy, allowing data lo be stored privately and securety. Page 6
NORWICH CITY COMMUNITY SPORTS FOUNDATION REPORT OF THE TRUSTEES . CONTINUED for the year ended 31 December'2023 RESPONSIBILITIES OF THE TRUSTEES The Irusle6s (who are also directors of Norwich City Community Sports Foundation for the purposes of company lawl are r6sponsible for preparing the report of the Iruslees and Ihe'financial slalements in accordance wilh applicable law and United Kingdom Accounting Standards {UnSled Kingdom Generally Accepted AccIn1•ng Practice). Company law requires the truslees lo prepare financial slalemenls for each financlal year, which .give a Irue and fair view of the of Ihe charitable company and ol the incoming resources and applicalion of resources, including the income and expenditure, of the charltable company for that period. In preparin9 these financial slalemenls. Ihe Iruslees are required lo.. select suilable accounting policies and then apply them consislently., observe the methods and principles ol the Charities SORP.. make jLKlgmenls and eslimales that are reasonable and prudenl,. prepare Ihe financial slalemenls on the going concern. basis unless il is inappropriate lo presunie that the charilable company wll conllnue in business. The Iruslees are responsible for keeping proper accounting records th81 disclose with reasonable accuracy al any lime the financial position of the charitable company and enable Ihern lo. ensure thai the Ilnancial statements comply with th8 Companies Act 2006. They are also responsible lor safeguardin9 Ihe assets of the charllable company and hence for laklng reasonable steps for the prevenlion and deleclion ol Iraud and other irregularilies. In so lar as the Irusl&es'8re awar•'. there is no relevanl audit 1nformation.of which the charitable company's audilor'ls unaware. and the Iruslees have taken all steps Ihal they ought to have taken to make themselves aware of any relevant audil Inlormailon and to 8slabllsh that the audllor Is aware of the informallon This report has been prepared in a¢¢ordan¢e with the special provisions of Part 15 of the Companies Act 2006 rel81ing lo small companie5. 011 BEHALF OF THE BOARD.. S l George - Tr ee 4 April 2024 Page 7
Independent Auditoes Report to the Truslees of Norwich City Community Sports Foundation Opinion We have audiled the financial statements of Norwich City Commuiiily Sports Foundation (the 'parenl charitable company'l and ils subsidiaries Ilhe 'group'l for the year ended 31 Oecember 2023 which comprise the Income Slalemenl, 8alance Sheet and notes lo the financial slalemenls. incl¢Jding signilicanl accounting policies, The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting S18ndord applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial slalements.. give a true and lair view ol the state of the group's and parent ch8rilable company's affaifs as al 31 December 2023, and of the group's incoming resources and application of resources. including ils income and expenéilure. lor the year then ended. have been propedy prepared in accordance wiin United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requiremenls of the Companies Act 2006 and the Charities Ac12011. Basis for oplnlon We conducled our audit in accordance with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our r85ponslbilities under those slandards are further descnbe(l in the Audllor's responsibilities for the audit of the financi81 slalemenls seclion ol our reporl. We are independent ol Ihe group and parenl charilable company in accordance with the elhlcal requirements that are relevant lo our audit of Ihe financial slalemenls in the UK, including Ihe FRC'S Ethical Standard. and we have fulfilled our olhgf elhlcal rèsponslbililies in accordance with these requirements. We believe Ihal the audit evidence we have obtained is sufficient and appropriale lo provide basls for our oplnion. Conoluslons relatlng to golng con¢ern In auditing the financial slalemenls, we have conclLtded thal the truslees, use of Ihe going concern basis of accounting In the preparation of the financial slal&ments is approprlale. 8ased M the work we have performed, we have not identified any material uncertainties felaling lo events or conditions Ihal. individually or collectively, may Gasl slgnificanl doubl on Ihè group's or parent chaiiiable company's ability lo continue as a going concern for a period of al leasl twelve months from when the financial stslamgnls are auihorised lor i$sue. Our r8sponsibililies and the responsibililies of Ihe trustees with respect lo going Conrn are described in the relevant sections ol this report. Other Informatlon The other information comprises the inlormal¢on included in the Iruslees annual report. other ihan the financi81 sts18nienlS and our auditor's report Ihefeon. The Iruslees ar8 rosponsibl8 for the olh8r inlormalion contained within the annual report. Our opInn on the financial slalernenls does not cover the other infofmalion and. except lo the exlenl otherwise explicitly staled in our report, W8 do nol expiess any lorm ol assurance rx)nclusion Ihereon. Our responsibility is to read Ihe olher infomialion and, in doing so, consider whether (he olher information is materially incon5isleni wlth the financial statements or our knowledge oblained in the course of the audit or otherwise appears lo be malerially misslaled. If we ideniify such material inconsistencies or apparenl malerial misslalernents. we are required lo determine whether Ihis give5 rise lo a materi81 misslalemenl in the financial statements Ihefnsgfves. 11. based on Ihe work we have performed. we conclude Ihal there is a malerlal misstatement ol this other information, we are required lo report that fact. We have nothing lo report in Ihis regard. Opinions on other matlers pregcribed by th6 Companies Act 2006 In our opinion, based on the work undertaken in the course of the sudil.. the inlomiation glven In Ihe IrLtslees' report for Ihe'financial year for which the financial slalenienls ere prepared is consislenl witli the financial slalemenis., and the direclofs. report has been prepareij in accordance with applicable legal requirements. Page 8
Independent Auditor's Report to the Trustees of Norwich Clly Community Sport5 Foundatlon Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the group and parent chafitable company and its environment oblained in the course ol the audit, we hav8 not identified material misstatemenls in the directors. report. We have nothing lo report in respect of the lollowing mallers in relation lo which Ihe Companies Act 2006 and Ilie Charilies Act 2011 requires us to reporl lo you if, in our opii)ion'. ad8quale and suffici8nl accounting r8cords have nol b8en k8pI by It18 parenl charitable company, or returns adequate lor our audit have not been received from branches not visitèd by us: or the pafenl charitable company's financial sl8lemenls are not In agreement with the accounting records and returns,. or cèrtain disclosures of dSreclors' remunerallon specifled by law ar8 not made,, or we liave not received all the inform81ion and explanations we requiie for our audit; or the Irustees were not enlitled lo prepare (he financial slalemenls in accordance wilh the small companies, regime and lake advantage of the small companies, exemptions in preparing the directors, report and Irom the requiremenl lo prepare a slralegic r8porl. Responsibilities ol trustees As 8xplained niore fully in the Irusièes, fèsponsibililies slalemenl sel out on page 6. th8 Irusl8es who 8re also Ihe direclois ol (he parent charilable company lor the purposes of company law are responsible for the preparation of Ihe financial slalements and for Ing salisfied that they give a true and fair view. and for such internal Control as the Iruslees delermine is necessary lo enable the preparalion of finanGlal stalemenls Ihal are free from material misslalemenl, whether due lo fraud or error. In preparing Ihe financial stslemenls, the Irusiees are fesponsible for assessing the groups and par6nl charitable ooinpany's ability lo continue as a going concern. clisclosing, as applirAble. m3118rs relaled lo going concérn and using the going concem basss ol accouniing unless the Iruslees elih8r intend lo liquidate the group or parent charil3ble company or lo cease operauons, Dr have no reallsllG allernalive bul to do so. Auditor's responsibllitles for the audit of the financlal statements We havè been appolnled au¢Jllor under Ihe Companies Acl 2006 and section 1 $1 of the Charilies Acl'2011 and report in acr,ordanGe with those Acts. Our objectives are lo obtain reasonable assurance about whether the financial slalem8nts as a whole are free from malerlal misslatemenl, whelher due to fraud or error, and lo issue an auditor'5 report Ihal Includes our opinion. Reasonable assurance is a hlgh level of assurance, bul is not a guarantee (hal an audil conducled in accordan with ISAS (UK) will always deleci a material misslalernenl when il exlsls. Mlsslalemenls'can arise from fraud or error and are considerèd malerial il, individually or in Uie aggregale, they could reasonably be expected lo influence the economic decisions ol user5 taken on the basis ol these llnanclal slalements., Irregularities, includlng fraud. are Instances of non.compliance with law5 and regulations. W8 deslgn predureS in line with our responsibilities, oullined above. lo delect material misslalemenls in respect ol irregularllies.. including fraud. The exlenl lo which our procedures are capable of dètecting irregulari1Ses, including fraud Is detailed below: We have made enquifies with management regarding Iheir procedures for complying with laws and regulations along wllh delecllng and prev&nt fraud, We also revlvw minules of meetings and any published news articles lo identify any instances of non.conipliance with and regulations. Evidence lias been obtained wliere applicable. Writlen represenlalion has been oblained to cnnfirm Ihere have been no breaches of laws and re9ulalions. Pagt 9
Independent Audltovs Report to th& Trustees of Nonvlch Clty Community Sports Foundatlon The 8u(Jit procedures are designed. so that with reasonablè assLirance, material misslatemenls can be delecle(J, including those relating lo fraud. Specifically, areas which involve provisions or estimations have beei) lested where malerlal. Because of. the inherenl limilalions of an audil, there is 8 risk Ihal we will not delect all irregularilies, including those leading lo a material misslalemenl in Ihe financial slatemenls or non-compliance with iegu181ion. Thi5 risk inLTeases the more that compliaiice wilh a law or re9ulalion is r8moved from the evè.nts and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of inslances of non-compliance. The rl8k is also gfealer regarding ii'regularliies oc.curring due lo fr¢iud rathèr than error, as frau¢J involve5 inlenlional COnalMent. forgery. collusion. omission or misrepresentation. A lurther descripllon ol our responsibilities Is available on the Financial Reporting Council's websile al., hl .or ur-WorklAudiVAu ncelSiand8rds-(Ind- 13n s-aild- r-audilor" rs-res onsibililies- Of-aL dlUDescri ion-ol-au ilors-res onslbililies-fof.aLJdil.as Thls descriplion forms parl ol our 8udilor's reporl. Use of our report Thls report Is made solely lo Ihe charllable company's n)efftbets. as a body, in acrofdance with Chapter 3 01 Part 16 of the Companies Act 2006 and lo the charilable company's Iruslees, as a bociy. in accordance with Parl 4. 01 the Charilie5 (Accounls and R8porlsl Regulations 2008. Our audit work has been undertaken so Ihal we mighl state lo Ihg charitable company's ni8mb8rs and ils Iruslees those matters we are required 10 Stale lo them in an audilols reporl and for.no oiher purpose. To Ihe lullesl exlenl permilled by law, we clo not accept or assume respon5ibllity lo anyone other than the charitable company and Ihe charitable company s members and Iruslees as a body, lor our audit work. for this report, or for Ihe opinions we have lormed. l A Bartow (Senior Statutory Audilorl lor and on behalf ol Sexty & Co Chartered Cert)fie¢ Accounlanls & Stalulory Auditor 124 Thorpe Road Norwich, Norfolk NR1 1RS Page 10
NORWICH CITY COMMUNITY SPORTS FOUNDATION CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Ilncludlng Income and expendlture account) lor the year ended 31 December 2023 2023 Tolal lunds Unreslricled funds Reslricled funds ,funds 'Noles INCOME Donalions and Legacies Charilable aclivilies Other income 1,387.725 3,359.397 200,890 29,757 1.087,822 1,417,482 4,447,219 200,890 1,084,182 4.491.616 117,604 Total 4,948,012 1,117,579 6,065,591 5,693,402 EXPENDITURE Raising lunds Charitable activities Other expenditure 15,910 3,590,381 1,199.697 543.176 516.194 559,086 4,1[,575 1,.199,697 567.,288 3,686,359 978,567 Total expenses 4,805,987 1,059.370 5,865,358 5,232,212 NET INCOME belor8 Iranslers and taxallon Taxation Transfers beeen funds 142,025 58.209 200,234 481.,190 35.968 58.209 35.968 16.048.> 158.2091 NET MOVEMENT OF FUNDS 236,202 238.202. 455.142 RECONCILIATION OF FUNOS: Total fund$ brought forward 2 525 843 2 525 843 2 070 701 TOTAL FUNDS CARRIED FORWARD 27 2 762,045 2,762 045 2,525,843 The notes form part of Ihpse financial s'ialemenls Page 11
NORWICH CITY COMMUNITY SPORTS FOUNDATION CHARifY 8A.LANCE SHEET At 31 December 2023 2023 2022 FIXED ASSETS Tangible assets Inveslmgnls Intangible 8ssels 13 14 198,140 92,640 198,141 92.641 CURRENT ASSETS Stocks Debtors Cash al bank and in hand 15 771,066 1,837.968 884,939 2,259,449 2.609,034 3.144,388 CREDITORS Amounls.falling due within one year 16 1901,1701 11.341.938) NET CURRENT ASSETS 1,707,864 1,802,450 TOTAL ASSETS LESS CURRENT LIABILITIES 1,906,004 1,895,091 FUNDS Unrestricted fvnds D&sign81ed funds Reslricled.funds 18 18 18 1,780,004 126,000 1.769,091 126.000 TOTAL FUNDS 1906 004 1895 091 These financial slatemenls 'have b8en prep8red in accordance with the special provisions of Pafl 15 of Ihe Companies Act 2006 relating lo small chari18ble companies and wilh Ilie FRS 102 SORP. The financial slalemenls wete approved by the Board ol Trustees on 4 April 2024 and were slgned on its bghalf by.. SIGeor Registered cornpany number-. 04100611 The notes fomi part of these financial 51alemenls Page 12
NORWICH CITY COMMUNITY SPORTS FOUNDATION CONSOLIDATED BALANCE SHEET for the year ended 31 Docomber 202.3 2023 2022 Noles FIXED ASSETS Tangible assets 24 5 844 776 CURRENT ASSETS Stocks Oebtors Cash al baiik and in hand 282.070 630,953 2 200 292 26,955 688.198 2 656 483 25 3,113.314 3,371,63.6 CREDITORS Amour)Is falling due'wilhin one year 26 17,246,274) 16,690,569) NET CURRENT ASSETS (4,132,960) (3.318.933) TOTAL ASSETS LESS CURRENT LIABILITIES 2.762,045 2,525.843 FUNDS unStricted fund$ Designated funds Reslrlcled funds 27 27 27 2,636,045 126,000 2,399,843 126,000 TOTAL FUNDS 2 762,045 2 525 843 These fin8ncial si3lemenls hdve been prepared iii accordance with Ihe speclal provisions ol Parl 15 of lh8 Companies Act 2006 relaty'ng lo sm811 charilable companies and with the FRS 102 SORP. The financlal sialements were approved by the Board of Trustees on 4 April 2024 and were signed on its behalf by. S l Georgè -Trusl8e Reglslergd company number-. 04100611 The notes form part of these finanGial 51alemenls Page 13
NORWICH CITY COMMUNITY SPORTS FOUNDATION CONSOLIDATEO STATEMENT OF CASHFLOWS for thg year ended 31 December 2023 2023 2022 Net. movement in fund8 for the reporting period Depreciatlon char9es Decr8aselllncreas&l in stocks Decreaselllncreasel in deblors Increaso in creditors 236.202 393.355 {255,1151 57,245 555,705 455.142 353.264 44,4TT (341,684) 1473,370) Net cash flow from operatlng activitle.s 987,392 37.829 Cash flow from. Investlng actlvltlos Paymenl$,lo acquire tangible fixed ass8ls Receipts from disposal ol tangible fix8d assets (1,445.5.191 1.936 {203,4.63) Net cash. flow Irom Inv.estlng activitles 11,443,583} 1203.4631 Nel Incr•asa In cash and cash equlvalentg 1456,19.21 {165.634) Cash and. ca¥h equlvalenl8 at boglnnlng ol perlod 2,856,484 2.822,118 CAsh and cash •qulvalents al •nd of pfjrlod 2,200,292 2,656.484 The noles form part ol Ihese financial 51alemenls Page 14
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSQLIOATED FINANCIAL STATEMENTS for tho year ended 31 December 2023 ACCOUNTING POLICIES Basi5 of preparing the financial statements The financial slalements have bèei) prepared in accordance wrth Accounling ai)d Reporting by Charities.. Slalemenl of Recommended Praclice applicabl8 10 charities preparing their financial slaièmenls in arcordance with the Financial R8porling Standard applicable in th8 UK and Republic ol eland IFRS 102) issued on October 2019, the Financial Reporting Standard applicable in the Untted Kingdom and Republic ol Ireland (FRS 1021. Ihe Charities Acl 2011, thè Companias Act 2006 and UK Generally Accepted Pracliee as11 applies from 1 January 2021. Norwich City Community Sports Foundation meets the definition of a public benefit entlly under FRS102. The financial slalements a presented in pounds sterling and are rounded lo Ihe neare51 pound. Company status The charity is a company limiled by guarantee. The memhers of the company are Ihe Ifuslees named on page 2. In the event of Ihe charity being wound up. the liability in respect ol the guarantee 18 limited 10 £1 per member of the charily. InGomlng resources All incoming resources are induded in the Statement ol Flnancial Aclivllies ISOFAI when the charity is legally entitled lo the income after any performance conditions have been mel. the amounl can be measured reliably, and il is probabl8 Ihat the income will be reived. For grants and donations to be recognised the ch8rily will have been notified ol Ihe amounts and Ihe settlemenl dale. If Ihere are conditions attached lo the grant or donation and Ihls reqvires a level of p8rformance befor6 enlillemenl can be obtained. Ih8n Income 18 deferrod unlll Ihose condilions are'lully mel or Ihe lulfilmenl ol Ihose condilions is within the control ol Ihe charlly 8nd11 is probable that they will be fulfilled. Income from trading a¢tlvilies includes income earne(J Irom fundraising events and Irading aclivilies lo raise lunds for the charlly, Income is received in exchange lor supplying goods and servlcés In order io false funds and is recognised when enlillernenl has OCKUfred. Resources expend•d All eMpendilLire accounted for on an 8ccruals basis and has been classilled under he8ding$ Ihal aggregale all costs related lo the category. Expenditur8 Is rewgnised where ther8 is a legal Of constructive obligation lo make payments lo third parties, it is probablè that the settlement will be reqL*lred, and the amounl ol the obligation can be measured 181iably. Support costs allocation Support costs are those th81 assisl the work ol the charily bul clo not direclly reprgsenl charitable aGlivilie5 and includf) office cosls, governance costs and adminislralive cosls. They are Incurred directly in support ol expenditure on the objects ol the charity. Where support costs cannot be directly attribuled lo headings, they have been allocaled lo cost of raising lunds and expenditufe on charitable activities a basis conslsienl wllh use of the fesources. Fund accounting Unreslricled lunds are available lor use al the discretion of the Iruslees in furlh&ran¢e of the general objectives of the charity and which have not been designaled lor olher purposes. Desigiialed funds comprise unreslricled fund5 that have been set aside by the tNslees for particular purposes. The aim and use ol each designated fund are sel out in the noles lo Ihe financial Blalements. Reslricled funds are lunds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the charity for specific purposes. The cost of raising and administenng such funds are charged against the specific fund. The aim and use of each reslricl8d ftjnd is s81 out in Ihe notes lo the financial slalemenls. Government Granls Grants received from the govemmenl are reccgnised wilhin the Slalemenl of Financial Aclivilie5 {SoFAI. 11 there are condilions allached lo 11)e granl or donation and Ihis requires a level ol performance before entillemenl can be oblained, Ihen income is delerred until those conditions are fully mel. Page 15
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATEO FINANCIAL STATEMENTS - CONTINUED for tho yoar ended 31 December 2023 ACCOUNTING POLICIES - contlnued Tanglble lixed asse15 and depreciatlon Tangible fixed assets are slated al cosi less depreciation. Depr8ciaiion is provided al rale8 calculaied lo wnte off the wsl of fixed ass.ets, less their eslimaled residual value, over their expected usolul lives on the following bases.. Leasehoid'proFerly improvemenls - Slraighi line over 5, 10 or 21 years Fixlures, fittings & equipment- Siraighl line over 1, 2, 3. 5, 10 and 12 years Pitch refurbishment - Slraighi line over 10 years Land & building5 . Slraigl)I lin& over 2.5 ye8rs stocks Stocks are staled ai the lower of cost and estimated selling price less cosls to complete and sell. Cost includes all costs of purchase, costs of converslon and other costs incurred in bringing stock lo ils presenl. localion and condition. Provision is made for damaged, obsoleie and slow-moving slock where appropriate. Oebtors and creditors recelvable I payable within one year Deblors and credilors with no slated inleresl rate and receivable or payable within one year are recorded .al. transaction price. Any,losses arlsing Irom irnpairrneni are rècognised in expenditure. Value added tax The charitable company is not registered for VAT and accordingly, all costs include irrecoverable VAT where appropriate, P•nsion$ The Charity operates a ¢Jefined contribution pension scheme for Ihe benefit of certaln staff m8mbers. The assels of the scheme ar8 halcl separately from Ihose of (he chaftly in independently Bdminislered funds. The costs ol contributions ar8 written off against profiis in the year they are payable. Opeiating leases Rentsls appll¢abl8 lo operating le8$9s are chafged to the SOFA on a slr8ighl-line b9sis ov&r tha perlod in which the COSI is incurred. Financlal instruments The charitable company has elecled lo apply Ihe provisions of Section 11 '8asic Finanoal Inslrumenls. and Section 12 '01h8r Flnancial Inslrumenls Issues, of FRS 102 10 811 of ils flnanclal instruments. F.inancial instruments are.iecognised in Lhe charitable. company's balance sheet when the charitable ¢omp8ny becomes paty to ihe contractual provisions of the instrument. Financial assets and liabilities are offsel. wlth the nel amounts Pfesènled in thé financial slalemenls, when (here is a legally enlofceable right lo sel off the recognised amounts and Ihere is an inlenilon lo sellle on a nel basis or lo realise Ihe assel and sellle the liability simullaneously. Baslc financlal assets Basic Iln8ncial assets, which include debtors and cash and bank balances, are inillally measured ai Iransartton. price induding transaclion.costs and are sutssequenlly carried al amorlised cost using Ihe.effeciive inleresl method unless the arrangemenl consiiluies a financin9 Iransaclion, where the transaction is measured al.the present value of the fulufe receipts discounted at a markel rate of interest. F.inancial assels dassified as receivable wllhln one year are nol amortised. Classification of financial liabilities Financial liabililies and equily instruments are dassilied acLording to the subsiance of the contractual arrangements entered irilo. An equity instrument is any contract that evidencès a residual interest in (he 85se15 Ot the charitable company atter deducting ell ol its liabilities. Page 16
NORWICH CITY COMMUNITr SPORTS FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUEO for the year ended 31 De¢ember 2023 Baslc financlal liabilitles Basic financial liabilities, including creditors, bank loans and loans from fellow group companies Ihal are classified as debl, are initially recognised 81 Iransaclion pric8 unless the 8rrangemenl conslilules a financing Iiansaclion, where the debl insliumenl is measure¢ al th8 present value of the future paymenls dlscounled al a market rale ol Interest. Finan¢lal liabilities classifled as payable within one year are not am¢)rtised. Trade creditors are obligalions lo pay for goods or services that have been acquired in the ordinary ourse ol business Irom suppliers. Amounts payable are classified as current liabilitigs rf payment is due within one year or less, Ir not, they are presented as non-currenl liabilitie5. Trade creditors are recognised inlllally al Ifansaclion price and subsequenuy measured al amorti88d cost using tha 8ffecliva Inleresl method. Taxallon The charily is an exempl charily within th8 meaning of schedulè 3 of the Cliarilies Act 2011 and is Considered lo pass Ihe lesls sel oul in Para9r8ph I Schedule 6 Flnance Acl 2010 and Iherefore il rneels the definition ol a charitable company for UK corporalion lax purposes. The charity's IOQY• owned subsidlary, The Nesl {Norfolk's Community Hub) Llmlled, is not exempt and iherefore pays corporation lax al the main rate. Golng concern The linanrSal slalemenls have been prepared on a going concern basls as the Irusleès belleve Ihal no material uncertainties exist. The trustees have consldered the level ol funds held and the expected level of income and expenditure lof 12 months from aulhorising Ihese financial 818lemenls. The budgeted income and 8xpenditure are 8nough with Ih818V81 of r.eserves for the charity lo be able lo continue as a going concern. INCOME FROM OONATIONS Total 2023 Total 2022 GROUP Unreslrlcled Reslrlcled Donations {CSFI Donations (The Nesll Olher donations and income {CSFI Other don?lions and income (The Nestl 253,650 29,757 283,407 185,953 1.134,075 1,134 075 898.229 1.387,075 1,417.482 1,084.182 The funding detailed above is primarily monetary funding, through donalions in cash and onllne. Thera W8r8 no notable donallons of gooLls durlng the financial yoar. Volunleers however are pivolal lo the work the charity undertakes and in deliverlng Ihe fundraising events Ihal The Foundation faciliiales. M05t nolably the contributions of volunteèrs during the charity's annual 1 OK running evenl 'Run Norwich. help lo raise vital funds for the ¢harily. These contributions c3nnol be recognised in th8se financial slalemenls bul their. contribution is inv8luable in a¢hieving the results in the table above. Page 17
NORWICH CITY COMMUNITY SPORTS FOU.NDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS- CONTINUED for the year ended 31 De¢ember 2023 INCOME.FROM.CHARITABLE ACTIVITIES Tolal 2023 Total 2022 GROUP Unreslricled Reslric18d School a'nd soccer aclivilles CommL4nity related actrvilies Pisabilily re'ialed activities Social engagement activities . Education relaLed a¢iivilies HI income Fundraising ev8nts Olher income. 1.711,312 672,212 151,037 253,738 197.816 72,336 1,965,ofJO 870,028 223,373 1,842,070 912,512 S10.715 508,668 95.807 621,844 669.558 131.109 669,558 131,109 563,932 24,167 563,932 24.168 3 359 396 1087 822 4 447.218 4,491,616 OTHER INCOME Total 2023 Total 2022 GROUP Unresirfcted Reslrided Klt inco.me {The Nestl Ren181 income (Th8 Nestl .Governmenl Support 196.915 3,975 196,915 3,975 78,194 e,300 33.110 200.890 200,890 117.604 TOTAL EXPENDITURE Total 2023 Tolal 2022 GROUP Direct Activllles Support Cosl of. faising funds Charitable Aciivilies (note 61 Other expenditv 360,333 1,118,802 257,902 198,753 2,987.773 941,795 559,086 4,106.575 1,199.697 567,286 3.686,359 978,567 1737 037 4 128,321 5.865 358 5 232.212 Page 18
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUEO for the year 8nd¢d 31 December 2023 ANALYSIS OF CHARITABLE EXPENDITURE Tolal 2022 GROUP Project Costs Suppgrt Costs 2023 Soccer and school activities Community related a¢tivllies Disability related aclivilies Social engagement acts'vilies Education relation activities Hire related activities Other running costs 525,4.87 283,151 132,326 33,500 129.9011 12.554 558,987 253.250 144,880 609,740 410,729 461.104 80.647 22.813 2.101,326 148,505 29,333 148,505 29,333 2,971,620 2,971.620 1,118,802 2,987,773 4,106 575 3.686,359 Where a management fee Is applied to a grant Ihese encompass the Support costs and have been elassilied as so. OTHER EXPENDITURE GROUP Total 2023 Total 2022 Unr.eslricted Restricted Other nJnnin9 cosls (The Nest) 1.199,697 1,199,697 978.567 1,199.697 1,199,697 978,567 NET INCOMINGI(OUTGOING) RESOURCES Nel resources ar8 slated after ¢harglng.' 2023 2022 Audllors. remunerats'on Depreciation - owned assels Arnortlsation Operaling lease ntaI$ 12,810 12,28> 393,355 353.331 Rent of land and buildings Hire of motor vehlcles 24,650 TRUSTEES. REMUNERATION ANO BENEFITS Ther6 was no Iruslees, remunerallon or other benefils for the year endéd 31 December 2023 of for the ye8r ended 3108cember 2022. There were no Irust8es"' expenses paid. for the year ended 31 December 2023" or fo( the year ended 31 December 2022. Page 19
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIOATED FINANCIAL STATEMENTS - CONTINUED for the'year ended 31 Dec8mb8r 2023 10. .STAFF COSTS GROUP 2023 2022 S12ff cosls.were as follows.. Wages and salaries Social security costs Pension costs Other employmanl costs 3,035,179 260.665 7Q.645 19.496 2,634,252 231,726 62,089 121.169 3.385 985 3 049,237 There were no ppaId or accrued pension costs al either the beginning or end of th8 yaar. The average number of employees. calculated on a full-lime equivalent basis, an8lysed by function was: 2023 2022 Trustées Pemianent',slaff Part-lime coaching stsff 71 36 81 24 TAXATION 2023 Group 2023 Charlly 2022 Group 2022 CharSty Cofporalion lax charge for the year Movement on deferred tax 32 48 35,968 12. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME As per.rni118d by Seclion.408 of the Companies Act 2006, Ihe Slalemenl of comprehensiv.e Income ol Ihe parent company is not presented as part of these financial.stalemenls. Page 20
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS . CONTINUED for the year ended 31 December 2023 13. TANGIBLE FIXED ASSETS CHARITY LeaseholLI propgrty improvemenls "Fixiur89, filling & equipmenl Pitch r8furbi5hmgnl"" W8bsile D8velopmenl Tolal COST Al 1 Jan 2023 Addilions Disposals 338,837 3,551 5,158 55,959 26Jf,363 168,376 17.2,669 689,49S 171,927 1.80.014 2,.18 Al 31 Dec 2023 337 230 261. 070 68.1408 DEPRECIATION Ai 1 Jan 2023 Disposals Charge for year 290,623 (3,564) 36.200 240,696 11.846) (172,669) 29,336 sg6,855 (17.8,0781 Al 31 Dec 2023 324 770 48 268 NET BOOK VALUE Al 31 Dec 2023 171789 Al 31 Dec 2022 48,214 19,759 24,667 92.640 Pagè 21
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIOA.TED FINANCIAL STATEMENTS - CONTINUED for the year endod 31 December 2023 14. INVESTMENTS Investments represent the chariiable company's investment in the shares of The Nest (Norfolk's Community Hub) Ltd Iconipany ,numbef 106892331. The re9isiered office address is NOlCh Cily Foolball Club, Carrow Road, Norwich, Norlolk, NR1 IJE. The charilable company own5 1 oof/io of the issued share capital of Tho'Ne51 {one ordinary share al £11, whose aogregale capital and reseives al Ihe Balance Sheet dale was £472,16812022 £630,753). The lurnovar lor I'he Nesi fof Ihe yeaf endirlg 2023 is £1.340,095 which presents a loss of £102,584. The ¢onsolidaled accounts includ8 The Nest. DE8TORS,' AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 CHARITY Trade debtors ,Accrued incom8 Amounts owed by group undertakings Other debtor5 304,798 299.799 124,966 341.462 223,971 272.788 46,718 771,066 884,939 16. CREDITORS.. AMOUNTS FALLING DUE.WITHIN ONE YEAR 2023 2022 CHARITY Trade creditors Taxation and social security Payments received in advanco of piojeels Amounts owed by group un¢Jertaklngs Accruals and deferred inc0rn8 (see below) 75,469 156,404 103.310 52,576 5,394 669 296 1 180,658 901,170 1 341,938 Deferred income comprises ol the following amounts which hav8 been designated a5 relaling lo lulufe periods by the grant provlders: Unrestricted Reslricted Toial Balance as at l January 2023 Less., release of amounts deferred in prior periods Add.. amounts deferred lo fulure periods 392,000 1392,0001 214 392 2g6,523 1296,5231 209 834 688,523 {688,5231 424 226 Balance as al 31 December 2023 214,392 209,834 424,226 These amounts are included in the accruals and deferred income figure at Ihe year-end. 1 T. ANALYSIS OF NET ASSETS BETWEEN FUNDS CHARITY 2023 Total funds 2022 Total funcls General Designated lunds fund Reslricled funds Fixed assets Nel current.asset5 198.141 1 581,863 198.141 1707.863 92.641 1802.450 126,O¢X) 1,780,004 126,000 1,906.004 1.895.091 Page 22
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIOATED FINANCIAL STATEMENTS- CONTINUED for the year ended 31 December 2023 18. MOVEMENT IN FUNDS Nel, movement in CHARITY At 1.1.23 funds Al 31,12.23 'Unre"stricted funds General fund8 Oesignaled fund- Carrow Park Designaled fund - Staff 1,769,091 1,.780,004 26,000 100.000 100,000 1,895.091 1,906 004 TOTAL FUNDS 1.895,091. 1,906,004 Net movement in lunds, Included in the above are as follows: Transf&r between Movement in funds Incoming rèsources Resources expended Unrestricted funds General funds Designaled fund 3,751,995 (3,799,291) (47,296) 5.8.209 3,751,995 3.799,291) 58,209 10,913 R•$trlct•d funds Fundraislng Community projecls Schools related projects Disabilily projects (a) {bl 593,689 197,816 .253,738 72,336 1543,1761 115J,110 {257,256 105,828) 150,5131 144,7061 33,492 1,117,579 (1,059,370) 158,2091 TOTAL FUNDS 4.869,574 4.858,661 Paae 22 Pagp 23
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS . CONTINUED for the year ended 31 December 2023 19. ANALYSIS OF RESTRI.CTED FUNDS FUNDRAISING The Foundation's funijralsing appeal aims lo help brlghlen up people's lives through sport by raising lunds Ihal enable us lo continue lo deliver vital services lor disadvantaged people and.Ihos8 with disabililles. UNITY OJ CT Kicks 18rgels young people who have previously proven difficull to reach 8nd uslng foolball as tho main engagEm8nl lool, helps guide Ihem towards a range ol sporting aclivilies. Funded by the Premier League, with ad(Jilional support from CSF, Klcks is rLtn wilh a partnership approach 8nd led with a steering group. Onsidè Pfogramme was developed in partnership with Norfolk Counly Council INCC) Eady InleNenlion T8am (EITI. Youlh Offending Team {YOTI and Norfolk PoliGe. The projeci largels 8-11 year olds (Year 3-61 trying lo break Ihe cycle ol vlolenl youth crime and exclusions in early years which has the polenlial to lead into MO violonl adull behaviour an'd oiher associated negalive behaviours. LS REL PR JECTS Included within Ihe general heading of Schools related proiecls Ore the following Individual lunds.. In5 Premier League funded progr.amme delivered in high Schools over 24 weeks. 12 w88ks ol this on enterprise related to NCFC and 12 weeks relating lo a social action plan on how lo redu Plastic consumption. Working wlth Ihe Premier League where the sim is lo provlde sports and activities within schools lo fill gaps in provision where there is no activity in p18ce. This projeci supports English and Maths in primary schools and provides leacher CPD lo those iiivolved. ABIL PR TS The Realising Polerrtial programrne 15 a targeted programme lo inspiie and er)gage people wilh physical and men181 disabilities lo participale and compete. in sport. Fundad by Premier Leagup Professional Footballer's Associaiion and NCS, Ihe Pfogramme aims lo support young people and adults in developing Iheir sporting capabilities, as well a5 employabilityllife skills. Workshops and 5porls sessions,.Social development through youth group aclivilies. Page ZA
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2023 esi nated funds The charitable company holds several d8signaled funds that have béen allocated, lor vaFIou¥ inveslments lo malnlain or develop the capltal project. al the Nest or to maintain deliverylprolecls when .th'eir lunding ase5. Currently the charity holds 4 months of operating reserves to Provide ¢8shflow and protection should th8 organisalion suffer some finan¢ial hardship or. ieouire windlng up. Funds have been sel aside lo maintain and d8v8lop Carrow Par.k and Ihe Nesl as both facililies require. carpel placemen1 every 10-14 years and signifiGanl costs10 manage wear and tear. We hold a designated projeGI fund lo provide lor the possibility where, if a reslricled progrgm fundino falls off and Is not replaced in the short lerm. belore securing lurihef funding lor Ihis program, we Bre able lo continue the effect of dellvering the program and suslalning Ihe Pfojecl. The charity has established a d8signaled fa¢illty fund lo sel aside amounts. lo allow for the conlinued development ol th6 Nest Norfolk's communily hub facility. The N881 Is opgralad by the Foundation's subsidiary company, Page 25
NORWICH CITY COMMUNITY SPORTS FOUNDATION .NOTES TQ THE CONSOLIOATED FINANCIAL STATEMENTS . CONTINUED .lor the year ended 310ecember 2023 20. OPERATING LEASE, COMMITMENTS 2023 2022 Annual commitments under operating leases fof land and buildings Expiring: Wllhin 1 year Beeen.one and five years After..more than five yéars 33.000 142,500 63,000 238,500 18.000 18.000 Annual ¢ommilments under opefaling lèases for ¢)Ifice equipment and. motor vehicles Expiring.. Within 1 year Beeen one and five years After more than five years 9.500 11,874 21,374 21. RELATED PARTY OISCLOSURES The ¢harilabla company is 8ssodaled by vlrtue of common dSo¢tor$ with Norwich Clly Foolb811 Club PLC. During Ihe year, the charitabl8 company enl8red inlo the lollowing Ifans8clions wlh related parties., Nonvlch City Football Club PLC 2023 2022 Sales and rech8rgea dutlng the year Amount receivable at 31 Decernber Purchases, including rent of premises, and ¢ontribulion to.Carrow Park Amount payable 81310e¢gmb8T 31,425 640 192.359 2.560 69,458 84,891 15,629 22. PENSION COMMITMENTS, The charity operates a defined contribution pansion schemè Ihal has been in place Irom the formalion of tho company. Thls now only includgs 2 original 8mploy88s. Th8 8ssels of the scheme ar8 held separalely from those of the charity In indep8ndenlly administered funds. The charity operates a pension scheme through Pension Aulo-Enrolmant for all other employees. The pensicsn cost charge represents ¢onlribulions payable by the charity 10 the penslon fund and during the year amounted lo £70,645 (2022 £62,089). 23. ULTIMATE CONTROLLING PARTY The ultimate controlling party is the Board of Trustees. Page 26
NO.RWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDATEO FINANCIAL. STATEMENTS- CONT.INUED for the year ended 31 December 2023 24. TANGIBLE FIXED ASSETS GROUP Leasehold property improvem enls Pitch relurb FIKlures, filllng & equipment Website Developm. Work. In Land & buildings Total COST Al l Jan 2023 Addilions Dlsposals 338,837 3,551 5.158 55.959 659,905 188.836 172,669 .29,336 8,0.72,449 1,750 7.158.236 1,188.173 64,960 1,445,520 180.014 2,187 Al 31 DeG 2023 337.230 53 772 6.76 072 7 260 622 86.710 8 423 742 DEPRECIATION Al l Jan 2023 290,624 Disposals 13,5641 Charge for year 37.711 36,199 322,242 (1,846) 1172,669) 5,527 29,336 635,059 1.313,460 (178,078> 393 356 287811 Al 31 Dec 2023 324 771 39 880 211880 922 870 1528 738 NET VALUE Al 31 Dec 2023 12,459. 800K 13,892 464,192 6,337.751 66,710 6.89'5,th)4 Al 31 Dec 2022 48,213 19,760 .33.7,663 5,437.390 1.,7,50 5,844,77$ Page 27
NORWICH CITY COMMUNITY SPORTS FOUNDATION NOTES TO THE CONSOLIDAT.ED FINANCIAL STATEMENTS- CONTINUED for the year ended 310•cember 2023 25. DE8TORS; AMOUNTS FALLING OUE WITHIN ONE YEAR 2023 2022 GROUP Trade debtors Accrued income Olher,.debtors 375.019 199,938 55,996 370,364 253,473 64,361 630,953 688.198 26. CREOITORS:.AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 GROUP Trade ¢re(liiors Taxation ahd. social securily Payments received in advance.of projects Corporation lax Accruals and deferred income 120,190 171,189 121,340 60,776 5,394 51,991 6,451,069 16,023 6,938,871 7 246 274 6 690 569 .2T. ANALY,SIS OF NET ASSETS BETWEEN FUNDS GROUP 2023 Total fun¢Js 2022 Total Funds General Designated funds fund R6slricled funds Fixed asset Net current assets 6.895.004 4 258 960 6,895,004 S,844,775 (4 132 960 (3.318 932 126.000 2 638 045 2 762.045 2.525.843 Page 28