REGISTERED COMPANY NUMBER: 04100611 REGISTERED CHARITY NUMBER: 1088239
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
NORWICH CITY COMMUNITY SPORTS FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 December 2024
| Page | |
|---|---|
| Chairperson’s Report 2024 | 1 |
| Report of the Trustees | 2 to 7 |
| Report of the Independent Auditors | 8 to 10 |
| Consolidated Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Consolidated Balance Sheet | 13 |
| Consolidated Statement of Cashflows | 14 |
| Notes to the Financial Statements | 15 to 28 |
NORWICH CITY COMMUNITY SPORTS FOUNDATION
CHAIRPERSON’S REPORT 2024
“To make our football club and community better today than it was yesterday”
After an incredible 2023, the question we asked ourselves was a simple one - how can we be even better?
The question was easy, the answer was hard. However, I’m delighted to say the Norwich City Community Sports Foundation has continued to grow and evolve throughout 2024 beyond even our greatest ambition. Continuing to support the people across the region who needed it most has been more important than ever.
Last year, we engaged with a phenomenal 45,828 unique participants across our delivery through over 800,000 hours of activity.
But of course, it’s not all about numbers; what motivates us is the difference we make in people’s lives. And the overwhelming feedback is that out impact is deep, wide reaching and life changing.
Last year, we helped children get back into school, ran dementia support sessions, held mental health running groups, set up veteran coffee mornings and, of course, delivered quite a lot of football!
None of this would be possible without the dedication of our people - our amazing partners, funders, volunteers, fundraisers, participants, and workforce. Our impact wouldn’t be possible without your incredible support.
Jake Humphrey
Norwich City Community Sports Foundation Chairperson
Page 1
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES for the year ended 31 December 2024
The trustees present their report and the audited consolidated financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on October 2019.
1. REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 04100611 (England and Wales)
Registered Charity number 1088239
Registered office
Norwich City Football Club Carrow Road Norwich Norfolk NR1 1JE
Trustees
G L Drake J Humphrey P J Knowles T Smith EM Barham M R Kerr Z Webber S George
Auditors
Sexty & Co Chartered Certified Accountants & Statutory Auditors 124 Thorpe Road Norwich NR1 1RS
Bankers
Barclays Bank PLC 1 Churchill Place London E14 5HP
Page 2
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2024
2. STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 1 November 2000 and registered as a charity on 28 August 2001. The charitable company was established under a Memorandum of Association, which established the objects and powers of the charitable company, and it is governed by its Articles of Association. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £1, during the period of their appointment as a member and for a period of 12 months after resignation.
Appointment and training of new trustees
The directors of the charitable company are also trustees for the purposes of charity law. New trustees are elected by the members at a general meeting. Additionally, the trustees may appoint a further trustee or trustees. Under the Articles of Association, each trustee is required to retire from office after the third annual trustee meeting following the commencement of their term, but then shall be eligible for reappointment.
Due to the nature of the charity, the Board of Trustees is selected based on their expertise and their ability to contribute to the future wellbeing of the charity.
New trustees are briefed on their legal obligations as a trustee/director under charity and company law, the content of the charity’s Memorandum and Articles of Association, the decision-making process, the business plan and supporting financial plans.
Principle risks and uncertainties
The key business risks affecting the charity relate to its funding sources, operational financial risks and project risks. The Board of Trustees and senior executives review the risks of the charitable company on a regular basis and have implemented policies and procedures to mitigate exposure to these risks, to ensure compliance with health and safety standards for staff and scheme participators and to ensure that that all regulations regarding the management and contact with children are adhered too. In addition, a review of all financial risks is undertaken on a regular basis. The main risk currently considered significant would be the reduction of funding from any of the major grants currently received. This risk is negated by the use of a funding fall off document to ensure that contingency funding is identified to cover any changes.
Organisational structure
The Board of Trustees, which has an independent Chairman, meets regularly for formal board meetings at which they receive detailed activity and financial reports. They also discuss key projects and ideas with the charity’s leadership team, agree and review policies, review progress and monitor performance. The board includes directors and senior management of Norwich City Football Club Plc and trustees with specific expertise from both private and public sector organisations.
The Chief Executive, Ian Thornton, oversees the day-to-day running of the organisation.
Page 3
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2024
3. OBJECTIVES AND ACTIVITIES
The charitable company’s objectives and principal activities are delivered for the benefit of children, young people and adults in Norfolk and other counties in East Anglia, regardless of race, sex, creed, or social background.
The charitable company’s objectives are:
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to provide inclusive environments for all to enjoy the physical, mental, and social benefits of sport.
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to use the power of sport and Norwich City Football Club to engage with hard-to-reach groups and inspire them to raise their aspirations, reach their potential, and to achieve more.
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to provide affordable services that achieve widespread community impact while supporting the charitable company’s sustainability.
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to provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, financial hardship, poverty or social and economic circumstances or for the public at large in the interest of social welfare and with the object of improving life conditions.
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for the general purposes of such charitable bodies or for such other exclusively charitable purposes in each case as the trustees may from time to time decide.
The trustees have referred to the Charity Commission’s guidance on reporting on public benefit (section 17 of Charities Act 2011) when reviewing the charity’s aims and objectives, and when planning the charity’s activities. The trustees are therefore confident that the charity meets the public benefit requirements.
4. ACHIEVEMENT AND PERFORMANCE
The chairman has set out in his report the achievements and performance of the charitable company.
The charity’s work is focused around delivering quality projects that promote sport, leisure and education opportunities based on the community’s needs. These activities form part of a plan moving forward that is built around the foundations of strong and meaningful partnerships.
5. FINANCIAL REVIEW
The results for the year are set out on page 11 of the financial statements. The net incoming resources for the year amounted to £51 all of which related to unrestricted operations.
The charity operates in an environment that is challenging where grant funding remains difficult as competition now exists from other non-profit making organisations.
Reserves Policy
Unrestricted
The charitable company's unrestricted reserves are represented, in the majority, by cash at bank and in hand. Due to fluctuations in income, the trustees consider that unrestricted reserves should be enough to cover the charitable company's planned expenditure for a period of a minimum of four months where possible. Unrestricted reserves at the year-end were £2,580,095, a value that is more than the minimum level prescribed by the trustees.
Page 4
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2024
5. FINANCIAL REVIEW (continued)
Designated
The charitable company has established a designated fund reserve to set aside amounts for the future maintenance and replacement of pitches at Carrow Park.
The charity has established a designated staff fund reserve to provide for the possibility where, if a restricted programme funding falls off and is not replaced in the short term, before securing further funding for this programme, we are able to continue the effect of delivering the programme and sustaining the projects that it is involved in.
Restricted
Restricted reserves represent monies received by the charitable company for various projects (as detailed later in the financial statements). These funds are potentially refundable to the providers as they are conditional upon the income being used for specified purposes.
Sources of Funding
The charity receives funding from four main sources: participant contribution on activity programmes; commercial sponsorship; grants from charitable trusts/foundations; and donations.
The charitable company's primary sources of funding are:
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i. The grants received from local and national organisations who have contributed funding and support towards the many and varied projects undertaken. During the year the charity received £2,082,065 (2023: £2,055,831) through grant and contract funding.
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ii. The charity holds soccer and school activities, which include soccer schools, after school clubs and development centres. During the year the charity generated £1,943,977 (2023: £2,383,525) from these activities.
Investment Policy
The trustees are empowered to invest funds in a manner appropriate, having regard to the security of any investments made and the requirements of the Charity Commissioner's order.
6. PLANS FOR FUTURE PERIODS
The charity is actively looking to increase the facility operation options at its community hub The Nest. By the end of 2025 Padel Courts will be considered as part of the next phases of development at the site. Any additional phases of development at the site will add to the opportunities of engagement available to beneficiaries of the site.
The primary objective of the charity’s fundraising activity will once again become to support and sustain its community delivery. The charity will continue to identify and develop programmes to tackle social issues in Norfolk, working in partnership with many key organisations.
Page 5 Page 6
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2024
7. FUND-RAISING STANDARDS INFORMATION
The charity approaches fundraising through an in-house fundraising team. They facilitate events throughout the year for the purpose of raising funding for The Foundation. There is no 3rd party facilitation in the delivery of these events. There was no voluntary schemes that regulated the fund-raising activities during the year.
There were no complaints received during the year regarding the conduct of participants or the Foundation in relation to the fund-raising that was carried out during the year.
The charity will never ask members of the public to take part in it’s events without their consent. The charity operates on the basis that participants will willingly sign up to and participate in the events that are available to take part in and will never be asked to donate money or other property to the Foundation that is beyond their means. All participant data is stored in compliance with The Foundation’s GDPR policy, allowing data to be stored privately and securely.
Page 6
NORWICH CITY COMMUNITY SPORTS FOUNDATION
REPORT OF THE TRUSTEES - CONTINUED for the year ended 31 December 2024
8. RESPONSIBILITIES OF THE TRUSTEES
The trustees (who are also directors of Norwich City Community Sports Foundation for the purposes of company law) are responsible for preparing the report of the trustees 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 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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the 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:
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there is no relevant audit information of which the charitable company's auditor is unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of the information
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
ON BEHALF OF THE BOARD :
S I George - Trustee
Date: 5[th] September 2025
Page 7
Independent Auditor’s Report to the Trustees of Norwich City Community Sports Foundation –
for the year ended 31 December 2024
Opinion
We have audited the financial statements of Norwich City Community Sports Foundation (the ‘parent charitable company’) and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and notes to the financial statements, including 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:
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give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 December 2024, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
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 group and parent 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 the group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The 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 contained within the annual report.
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.
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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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:
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the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors’ report has been prepared in accordance with applicable legal requirements.
Page 8
Independent Auditor’s Report to the Trustees of Norwich City Community Sports Foundation – Continued
for the year ended 31 December 2024
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:
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adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees who are also the directors of the parent 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 groups and parent 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 group or parent 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 is detailed below:
We have made enquiries with management regarding their procedures for complying with laws and regulations along with detecting and prevent fraud. We also review minutes of meetings and any published news articles to identify any instances of non-compliance with and regulations.
Evidence has been obtained where applicable. Written representation has been obtained to confirm there have been no breaches of laws and regulations.
Page 9Page 10
Independent Auditor’s Report to the Trustees of Norwich City Community Sports Foundation – Continued
for the year ended 31 December 2024
The audit procedures are designed so that with reasonable assurance, material misstatements can be detected, including those relating to fraud. Specifically, areas which involve provisions or estimations have been tested where material.
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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. 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 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees 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 and trustees as a body, for our audit work, for this report, or for the opinions we have formed.
I A Barlow (Senior Statutory Auditor) for and on behalf of Sexty & Co Chartered Certified Accountants & Statutory Auditor 124 Thorpe Road Norwich, Norfolk NR1 1RS Date: 5[th] September 2025
Page 10
NORWICH CITY COMMUNITY SPORTS FOUNDATION
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) for the year ended 31 December 2024
| Unrestricted funds Notes £ INCOME Donations and Legacies 2 1,682,911 Charitable activities 3 3,361,033 Other income 4 133,210 Total 5,177,154 EXPENDITURE Raising funds 5 31,711 Charitable activities 6 4,012,080 Other expenditure 7 1,378,443 Total expenses 5,422,234 NET INCOME before transfers and taxation (245,080) Taxation 11 22,023 Transfers between funds 245,127 NET MOVEMENT OF FUNDS 22,070 RECONCILIATION OF FUNDS: Total funds brought forward 2,762,045 TOTAL FUNDS CARRIED FORWARD 27 2,784,115 |
Restricted funds £ 21,851 1,119,508 - 1,141,359 374,072 522,160 - 896,232 245,127 - (245,127) - - - |
2024 Total funds £ 1,704,762 4,480,541 133,210 6,318,513 405,783 4,534,240 1,378,443 6,318,466 47 22,023 - 22,070 2,762,045 2,784,115 |
2023 Total funds £ 1,417,482 4,447,219 200,890 6,065,591 559,086 4,106,575 1,199,697 5,865,358 |
|---|---|---|---|
| 200,234 35,968 - |
|||
| 236,202 2,525,843 |
|||
| 2,762,045 |
The notes form part of these financial statements
Page 11
NORWICH CITY COMMUNITY SPORTS FOUNDATION
| CHARITY BALANCE SHEET | CHARITY BALANCE SHEET | CHARITY BALANCE SHEET | |||||
|---|---|---|---|---|---|---|---|
| At 31 December 2024 | |||||||
| 2024 | 2023 | ||||||
| Notes | £ | £ | £ | £ | |||
| FIXED ASSETS | |||||||
| Tangible assets | 13 | 168,547 | 198,140 | ||||
| Investments | 14 | 1 | 1 | ||||
| 168,548 | 198,141 | ||||||
| CURRENT ASSETS | |||||||
| Debtors | 15 | 1,041,322 | 771,066 | ||||
| Cash at bank and in hand | 1,202,955 | 1,837,968 | |||||
| 2,244,277 | 2,609,034 | ||||||
| CREDITORS | |||||||
| Amounts falling due within one year | 16 | (962,965) | (901,170) | ||||
| NET CURRENT ASSETS | 1,281,312 | 1,707,864 | 1,707,864 | ||||
| TOTAL ASSETS LESS CURRENT | 1,449,860 | 1,906,004 | |||||
| LIABILITIES | |||||||
| FUNDS | |||||||
| Unrestricted funds | 18 | 1,323,860 | 1,780,004 | ||||
| Designated funds | 18 | 126,000 | 126,000 | ||||
| TOTAL FUNDS | 1,449,860 1 | 1 | 1 | 1,906,004 |
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the FRS 102 SORP.
The financial statements were approved by the Board of Trustees on 5[th] September 2025 and were signed on its behalf by:
S I George - Trustee
Registered company number: 04100611
The notes form part of these financial statements
Page 12
NORWICH CITY COMMUNITY SPORTS FOUNDATION
CONSOLIDATED BALANCE SHEET for the year ended 31 December 2024
| 2024 | 2023 | 2023 | |||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 24 | 6,942,579 | 6,895,004 | ||
| CURRENT ASSETS | |||||
| Stocks | 183,785 | 282,070 | |||
| Debtors | 25 | 794,608 | 630,953 | ||
| Cash at bank and in hand | 1,637,691 | 2,200,292 | |||
| 2,616,084 | 3,113,314 | ||||
| CREDITORS | |||||
| Amounts falling due within one year | 26 | (6,774,548) | (7,246,274) | ||
| NET CURRENT ASSETS | (4,158,464) | (4,132,960) | |||
| TOTAL ASSETS LESS CURRENT | 2,784,115 | 2,762,045 | |||
| LIABILITIES | |||||
| FUNDS | |||||
| Unrestricted funds | 27 | 2,658,115 | 2,636,045 | ||
| Designated funds | 27 | 126,000 | 126,000 | ||
| TOTAL FUNDS | 2,784,115 2 | 2,762,045 |
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the FRS 102 SORP.
The financial statements were approved by the Board of Trustees on 5[th] September 2025 and were signed on its behalf by:
S I George -Trustee
Registered company number: 04100611
The notes form part of these financial statements
Page 13
NORWICH CITY COMMUNITY SPORTS FOUNDATION
CONSOLIDATED STATEMENT OF CASHFLOWS for the year ended 31 December 2024
| Net movement in funds for the reporting period Depreciation charges Decrease/(Increase) in stocks Decrease/(Increase) in debtors Increase in creditors Net cash flow from operating activities Cash flow from investing activities Payments to acquire tangible fixed assets Receipts from disposal of tangible fixed assets Net cash flow from investing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period |
2024 £ 22,070 431,020 98,285 (163,655) (471,727) (84,007) (478,594) - (478,594) (562,601) 2,200,292 1,637,691 |
2023 £ 236,202 393,355 (255,115) 57,245 555,705 |
|---|---|---|
| 987,392 | ||
| (1,445,519) 1,936 |
||
| (1,443,583) | ||
| (456,192) 2,656,484 |
||
| 2,200,292 |
The notes form part of these financial statements
Page 14
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2021.
Norwich City Community Sports Foundation meets the definition of a public benefit entity under FRS102.
The financial statements are presented in pounds sterling and are rounded to the nearest pound.
Company status
The charity is a company limited by guarantee. The members of the company are the trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For grants and donations to be recognised the charity will have been notified of the amounts and the settlement date. If there are conditions attached to the grant or donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Resources expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.
Support costs allocation
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for specific purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Government Grants
Grants received from the government are recognised within the Statement of Financial Activities (SoFA). If there are conditions attached to the grant or donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met.
Page 15
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold property improvements – Straight line over 5, 10 or 21 years Fixtures, fittings & equipment – Straight line over 1, 2, 3, 5, 10 and 12 years Pitch refurbishment – Straight line over 10 years Land & buildings - Straight line over 25 years
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Value added tax
The charitable company is not registered for VAT and accordingly, all costs include irrecoverable VAT where appropriate.
Pensions
The charity operates a defined contribution pension scheme for the benefit of certain staff members. The assets of the scheme are held separately from those of the charity in independently administered funds. The costs of contributions are written off against profits in the year they are payable.
Operating leases
Rentals applicable to operating leases are charged to the SOFA on a straight-line basis over the period in which the cost is incurred.
Financial instruments
The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charitable company after deducting all of its liabilities.
Page 16
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
The charity’s 100% owned subsidiary, The Nest (Norfolk’s Community Hub) Limited, is not exempt and therefore pays corporation tax at the main rate.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are enough with the level of reserves for the charity to be able to continue as a going concern.
2. INCOME FROM DONATIONS
| GROUP Donations (CSF) Other donations and income (The Nest) |
Total Total Unrestricted Restricted 2024 2023 £ £ £ £ 320,653 21,851 342,504 283,407 1,362,258 - 1,362,258 1,134,075 |
|---|---|
| 1,682,911 21,851 1,704,762 1,417,482 |
The funding detailed above is primarily monetary funding, through donations in cash and online. There were no notable donations of goods during the financial year.
Volunteers however are pivotal to the work the charity undertakes and in delivering the fundraising events that The Foundation facilitates. Most notably the contributions of volunteers during the charity’s annual 10K running event “Run Norwich” help to raise vital funds for the charity. These contributions cannot be recognised in these financial statements but their contribution is invaluable in achieving the results in the table above.
Page 17
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
| 3. | INCOME FROM CHARITABLE | ACTIVITIES | |||
|---|---|---|---|---|---|
| Total | Total | ||||
| GROUP | Unrestricted | Restricted | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| School and soccer activities | 1,162,049 | 250,000 | 1,412,049 | 1,965,050 | |
| Community related activities | 781,927 | 201,667 | 983,594 | 870,028 | |
| Disability related activities | 149,068 | 62,821 | 211,889 | 223,373 | |
| Social engagement activities | 366,684 | - | 366,684 | - | |
| Education related activities | 734,344 | - | 734,344 | 669,558 | |
| Hire income | 123,350 | - | 123,350 | 131,109 | |
| Fundraising events | 43,511 | 605,020 | 648,531 | 563,932 | |
| Other income | 100 |
- |
100 |
24,167 | |
| 3,361,033 | 1,119,508 | 4,480,541 | 4,447,218 | ||
| 4. | OTHER INCOME | ||||
| Total | Total | ||||
| GROUP | Unrestricted | Restricted | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Kit income (The Nest) | 130,460 | - | 130,460 | 196,915 | |
| Rental income (The Nest) | 2,750 | - | 2,750 | 3,975 | |
| 133,210 | - | 133,210 | 200,890 | ||
| 5. | TOTAL EXPENDITURE | ||||
| Total | Total | ||||
| GROUP | Direct Activities | Support | 2024 | 2023 | |
| £ | £ | £ | £ | ||
| Cost of raising funds | 405,783 | - | 405,783 | 559,086 | |
| Charitable Activities (note 6) | 1,240,050 | 3,294,190 | 4,534,240 | 4,106,575 | |
| Other expenditure | 273,830 | 1,104,613 | 1,378,443 | 1,199,697 | |
| 1,919,663 | 4,398,803 | 6,318,466 | 5,865,358 |
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NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
6.
ANALYSIS OF CHARITABLE EXPENDITURE
| GROUP Soccer and school activities Community related activities Disability related activities Social engagement activities Education relation activities Hire related activities Other running costs |
Total Total Project Costs Support Costs 2024 2023 £ £ £ £ 540,747 25,000 565,747 558,987 323,833 20,000 343,833 253,250 102,167 6,250 108,417 144,880 23,950 - 23,950 - 210,280 - 210,280 148,505 39,073 - 39,073 29,333 - 3,242,940 3,242,940 2,971,620 |
|---|---|
| 1,240,050 3,294,190 4,534,240 4,106,575 |
Where a management fee is applied to a grant these encompass the Support costs and have been classified as so.
7. OTHER EXPENDITURE
| GROUP Other running costs (The Nest) |
Total Total Unrestricted Restricted 2024 2023 £ £ £ £ 1,378,443 - 1,378,443 1,199,697 1,378,443 - 1,378,443 1,199,697 |
|---|---|
8. NET INCOMING/(OUTGOING) RESOURCES
Net resources are stated after charging:
| Net resources are stated | after charging: | 2024 | 2023 |
| £ | £ | ||
| Auditors’ remuneration | 13,158 | 12,810 | |
| Depreciation – owned assets | 431,020 | 393,355 | |
| Operating lease rentals | - Rent of land and buildings | 33,000 | 24,650 |
| - Hire of motor vehicles | 22,820 | 8,880 |
9. TRUSTEES’ REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 December 2024 or for the year ended 31 December 2023.
There were no trustees’ expenses paid for the year ended 31 December 2024 or for the year ended 31 December 2023.
Page 19
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
10. STAFF COSTS
GROUP
| GROUP | ||
|---|---|---|
| 2024 | 2023 | |
| Staff costs were as follows: | £ | £ |
| Wages and salaries | 3,155,030 | 3,035,179 |
| Social security costs | 284,296 | 260,665 |
| Pension costs | 82,114 | 70,645 |
| Other employment costs | 30,012 | 19,496 |
| 3,551,452 | 3,385,985 |
There were no prepaid or accrued pension costs at either the beginning or end of the year.
The average number of employees, calculated on a full-time equivalent basis, analysed by function was:
| Trustees Permanent staff Part-time coaching staff TAXATION Corporation tax charge for the year Movement on deferred tax |
2024 2023 9 9 79 71 43 36 2024 2024 2023 2023 Group Charity Group Charity £ £ £ £ - (22,023) - - 32 (36,000) - - |
|---|---|
| (22,023) -(35,968) - |
11. TAXATION
12. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME
As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.
Page 20
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
13. TANGIBLE FIXED ASSETS
| CHARITY COST At 1 Jan 2024 Additions Disposals At 31 Dec 2024 DEPRECIATIO N At 1 Jan 2024 Disposals Charge for year At 31 Dec 2024 NET BOOK VALUE At 31 Dec 2024 At 1 Jan 2024 |
Leasehold property improvement s £ 337,230 - - |
Pitch refurbishmen t £ 53,772 - - |
Fixtures, fitting & equipment £ 261,070 - - |
Website Development £ 29,336 - - |
Website Development £ 29,336 - - |
Work in progress Total £ - 681,408 10,860 10,860 - - |
|---|---|---|---|---|---|---|
| 337,230 | 53,772 | 261,070 | 29,336 | 10,860 692,268 |
||
| 324,770 - 5,133 |
39,881 - 5,377 |
89,281 - 29,943 |
29,336 - - |
- 483,268 - - - 40,452 |
||
| 329,903 | 45,258 | 119,224 | 29,336 | - 523,721 |
||
| 7,327 | 8,514 | 141,846 | - | 10,860 168,547 |
||
| 12,460 | 13,891 | 171,789 | - | 198,140 |
Page 21
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
14. INVESTMENTS
Investments represent the charitable company’s investment in the shares of The Nest (Norfolk’s Community Hub) Ltd (company number 10689233). The registered office address is Norwich City Football Club, Carrow Road, Norwich, Norfolk, NR1 1JE. The charitable company owns 100% of the issued share capital of The Nest (one ordinary share at £1), whose aggregate capital and reserves at the Balance Sheet date was £336,387 (2023 £472,168). The turnover for The Nest for the year ending 2023 is £1,495,468 which presents a loss of £191,781. The consolidated accounts include The Nest.
15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 CHARITY £ Trade debtors 317,295 Accrued income 448,339 Amounts owed by group undertakings 251,275 Other debtors 24,413 1,041,322 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 CHARITY £ Trade creditors 156,169 Taxation and social security 155,803 Accruals and deferred income (see below) 650,993 962,965 |
2023 £ 304,798 299,799 124,966 41,503 771,066 2023 £ 75,469 156,404 669,296 901,170 |
|---|---|
Deferred income comprises of the following amounts which have been designated as relating to future periods by the grant providers:
| Unrestricted £ Balance as at 1 January 2024 214,392 Less: release of amounts deferred in prior periods (214,392) Add: amounts deferred to future periods 194,158 Balance as at 31 December 2024 194,158 These amounts are included in the accruals and deferred income figure at ANALYSIS OF NET ASSETS BETWEEN FUNDS CHARITY General Designated Restricted funds fund funds £ £ £ Fixed assets 168,548 - - Net current assets 1,155,312 126,000 - 1,323,860 126,000 - |
Restricted £ 209,834 (209,834) 149,145 149,145 the year-end. 2024 Total funds £ 168,548 1,281,312 1,449,860 |
Total £ 424,226 (424,226) 343,303 |
|---|---|---|
| 343,303 | ||
| 2023 Total funds £ 198,141 1,707,863 1,906,004 |
17. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Page 22
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
18. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||||
|---|---|---|---|---|---|---|
| Net | ||||||
| CHARITY | movement in | |||||
| At 1.1.24 | funds | At 31.12.24 | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General funds | 1,780,004 | (456,144) | 1,323,860 |
|||
| Designated fund – Carrow Park | 26,000 | - | 26,000 | |||
| Designated fund – Staff | 100,000 | - | 100,000 | |||
| 1,906,004 | (456,144) | 1,449,860 |
||||
| 1,906,004 | (456,144) | 1,449,860 |
||||
| Net movement in funds, included in the above are as follows: | ||||||
| Transfer | ||||||
| Incoming | Resources | between | Movement in | |||
| resources | expended | funds | funds | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General funds | 3,895,519 | (4,596,790) | - |
(701,271) | ||
| Designated fund | - | - | 245,127 | 245,127 |
||
| 3,895,519 | (4,596,790) | 245,127 |
(456,144) |
|||
| Restricted funds | ||||||
| Fundraising | (a) | 626,872 | (374,072) | (252,800) | - |
|
| Community projects | (b) | 201,667 | (204,872) | 3,205 | - | |
| Schools related projects | (c) | 250,000 | (250,945) | 945 | - | |
| Disability projects | (d) | 62,820 | (66,343) | 3,523 | - | |
| 1,141,359 | (896,232) | (245,127) |
- |
|||
| TOTAL FUNDS | 5,036,878 | (5,493,022) | - | (456,144) |
Page 2Page 3 2
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
19. ANALYSIS OF RESTRICTED FUNDS
a) FUNDRAISING
The Foundation's fundraising appeal aims to with disadvantaged people and those with disabilities to experience the benefits of sport; keeping them active and happy while improving their health and skills for the future.
b) COMMUNITY PROJECTS
i. Kicks
Kicks targets young people who have previously proven difficult to reach and using football as the main engagement tool, helps guide them towards a range of sporting activities. Funded by the Premier League, with additional support from the Foundation, Kicks is run as a partnership approach across a number of support services and organisations.
c) SCHOOLS RELATED PROJECTS
Included within the general heading of Schools related projects are the following individual funds:
i.PL Inspires
Premier League funded programme delivered in high schools over 12 weeks. Raising aspirations, attendance, and attainment for those at risk of not reaching their full potential.
ii.PL School Sport/PL Primary Stars
Working with the Premier League where the aim is to provide sports and activities along with English and Maths interventions into primary schools. Teacher CPD and tournaments for schools’ teams to enter also are part of the project.
d) DISABILITY PROJECTS
The Realising Potential programme is a targeted programme to inspire and engage people with physical and mental disabilities to participate and compete in sport. Funded by Premier League Professional Footballer’s Association and NCS, the programme aims to support young people and adults in developing their sporting capabilities, as well as employability/life skills. We also ran two new NCFC representative squads across – Powerchair & Cerebral Palsy.
Page 24
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
Designated funds
The charitable company holds several designated funds that have been allocated for various investments to maintain or develop the capital projects at the Nest or to maintain delivery projects when funding ceases or is paused.
Currently the charity holds 2 months of operating reserves to provide cashflow and protection should the organisation suffer some financial hardship or require winding up.
Funds have been set aside to maintain and develop Carrow Park and the Nest as both facilities require large sinking funds to manage wear and tear over 12–14-year periods.
We have a designated project fund to kick off new provision, based on local need or to simply maintain a developed provision until we can financially sustain the project.
The charity has established a designated facility fund to set aside amounts to allow for the continued development of the Nest Norfolk’s community hub facility. The Nest is operated by the Foundation’s subsidiary company.
Page 25
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED for the year ended 31 December 2024
20. OPERATING LEASE COMMITMENTS
| OPERATING LEASE COMMITMENTS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Annual commitments under operating leases for land and buildings | ||
| Expiring: | ||
| Within 1 year | - | 33,000 |
| Between one and five years | - | 142,500 |
| After more than five years | 33,000 | 63,000 |
| 33,000 | 238,50 | |
| 0 | ||
| Annual commitments under operating leases for office equipment and | motor vehicles | |
| Expiring: | ||
| Within 1 year | 9,500 |
9,500 |
| Between one and five years | 13,320 | 11,874 |
| 22,820 | 21,374 |
21. RELATED PARTY DISCLOSURES
The charitable company is associated by virtue of common directors with Norwich City Football Club PLC.
During the year, the charitable company entered into the following transactions with related parties:
| Norwich City Football Club PLC Sales and recharges during the year Amount receivable at 31 December Purchases, including rent of premises, and contribution to Carrow Park Amount payable at 31 December |
2024 2023 £ £ 38,673 31,425 40,455 640 91,505 192,359 106,427 2,560 |
|---|---|
22. PENSION COMMITMENTS
The charity operates a defined contribution pension scheme that has been in place from the formation of the company. This now only includes 2 original employees. The assets of the scheme are held separately from those of the charity in independently administered funds.
The charity operates a pension scheme through Pension Auto-Enrolment for all other employees.
The pension cost charge represents contributions payable by the charity to the pension fund and during the year amounted to £82,114 (2023 £70,645).
23. ULTIMATE CONTROLLING PARTY
The ultimate controlling party is the Board of Trustees.
Page 26
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED for the year ended 31 December 2024
24. TANGIBLE FIXED ASSETS
| GROUP COST At 1 Jan 2024 Additions Disposals At 31 Dec 2024 DEPRECIATION At 1 Jan 2024 Disposals Charge for year At 31 Dec 2024 NET BOOK VALUE At 31 Dec 2024 At 31 Dec 2023 |
Leasehold property improvements Pitch refurb Fixtures, fitting & equipment Website Development Land & buildings Work-in progress Total £ £ £ £ £ £ 337,230 53,772 676,072 29,336 7,260,622 66,710 8,423,742 - - 11,024 - 42,957 424,613 478,594 - - (895) - - - (895) |
|---|---|
| 337,230 53,772 686,201 29,336 7,303,579 491,323 8,901,441 |
|
| 324,771 39,880 211,880 29,336 922,870 - 1,528,738 - - (895) - - - (895) 5,133 5,377 71,718 - 348,792 - 431,020 |
|
| 329,904 45,257 282,703 29,336 1,271,662 - 1,958,862 |
|
| 7,326 8,515 403,498 - 6,031,917 491,323 6,942,579 |
|
| 12,459 13,892 464,192 - 6,337,751 66,710 6,895,004 |
Page 27
NORWICH CITY COMMUNITY SPORTS FOUNDATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED for the year ended 31 December 2024
25. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| GROUP | £ | £ | ||||
| Trade debtors | 359,816 | 375,019 | ||||
| Accrued income | 372,103 | 199,938 | ||||
| Other debtors | 62,689 | 55,996 | ||||
| 794,608 | 630,953 | |||||
| 26. | CREDITORS: AMOUNTS FALLING DUE WITHIN | ONE YEAR | ||||
| 2024 | 2023 | |||||
| GROUP | £ | £ | ||||
| Trade creditors | 263,632 |
120,190 | ||||
| Taxation and social security | 173,928 | 171,189 | ||||
| Corporation tax | - | 16,023 | ||||
| Accruals and deferred income | 6,336,988 | 6,938,871 | ||||
| 6,774,548 | 7,246,274 | |||||
| 27. | ANALYSIS OF NET ASSETS | BETWEEN FUNDS | ||||
| GROUP | 2024 | 2023 | ||||
| General Designated | Restricted | Total | Total | |||
| funds | fund | funds | funds | Funds | ||
| £ | £ | £ | £ |
£ | ||
| Fixed assets | 6,942,578 | - | - | 6,942,578 | 6,895,004 | |
| Net current assets |
(4,284,463) | 126,000 | - | (4,158,463) | (4,132,960) | |
| 2,658,115 |
126,000 | - | 2,784,115 | 2,762,045 |
Page 28