2022-08-31-accounts - Foundation Of Light

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Trustees and Advisers for the year ended 31 August 2022...
Chairman's Statement.
Trustees' Report for the year ended 31 August 2022.
Statement ofResponsibilities ofthe Trustees ofFoundation ofLight in respect ofthe Trustees'		Annual
Report and the Financial Statements			11
Independent auditors report to the members of Foundation ofLight			12
Company Statement ofFinancial Activities for the year ended 31August 2022 (including	Income and
Expenditure account) ..			16
Company Balance Sheet as at31 August 2022..			17
Consolidated Statement ofFinancial Activities for the year ended 31 August 2022 (including		Income and
Expenditure account) ..			18
Consolidated Balance Sheet as at 31August 2022			19
Company Cashflow for the year ended 31August 2022.			20
Consolidated Cashflow for the year ended 31August 2022.			21
Accounting Policies			22
Notes to the Financial Statements for the year ended 31 August 2022,			26

			Note	Unrestricted	Restricted	Total funds	Total funds
				funds	funds	31August	31August
						2022	2021
Income from:
Donations and legacies			la	200,124	33,704	233d128	452,244
Charitable activities			lb	728,135	2,270,849	2,998,984	2,686,607
Other trading activities			lc	405,149		405,149	196,684
Job Retention Grant		from Government	Id				170,131
Total Income				Is333&408	2+04t553	3637@61	3505666
Expenditure on:
Raising funds			2a	379,145		379,145	282,794
Charitable activities				520,227	2„633,662	3,153Jl89	2,845,395
Exceptional item				102,301		102401
Total Expenditure				1,001„6'/3	2,633,662	3,635435	3,128,189
Net (expenditure)/income				331,735	(329,109)	2,626	377,477
Transfers between	funds		1I	(231,079)	231,079
Net movement in funds				100,656	(98,030)	2,626	377,477
Total funds brought		forward		1,081,600	258,609	1440409	962,732
Total funds carried		forward		1,182,256	160,579	1442405	1,340,209

						Nate	31 August	31 August
							2022	202I
Fixed assets
Intangible assets							51,013	19,444
Property, Plant and		Equipmcnt					92/64
Investments
Total fixed assets							143379	83,845
Current assets
Debtors						8	2,134,419	1,865,04I
Cash at bank nnd	in	hand					931,035	l,275,967
Total current assets							3,065,454	3,141,008
Creditors: amounts		falling	duc within cne	ear		9	(791498)	(784,644)
Net current assets							2,273,856	2,356„364
Total assets less current			liabilities				2,417,235	2,440,209
Creditors; amounts		fallin	due suer mare	than one	car	10	1,074,400)	(l,l00,000)
Net assets							I 42.835	1,340,209
The funrh ofthe	charity:
Restricted income		funds					160,579	258,609
Unrestricted income funds
Generalfunds							1,131,894	1,031,238
Designated funds							50462	50,362
Total unrestricted	income		funds				1,182356	1,081,600
Total charity funds							I/42,835	1,340,209

		Note	Unrestricted	Restricted	Restricted	Total funds	Total funds
			funds	funds	Fixed Asset	31 August	31August
					funds	2022	2021
Income from:
Donations and legacies		la	200,124	33,704	49,999	283,827	499,244
Charitable activities		lb	728,135	2,270,849		2„tt98,984	2,686,607
Other trading activities		Ic	1,103,106			1,103,106	388,023
Investments
Job Retention Grant from Government		Id					201,631
Total Income			2,031465	2404@53	49,999	4@85,917	3,775,505
Expenditure on:
Raising funds			809,670			809,670	541,012
Charitable activities			1,149,172	2,349,765	440,913	3,9392150	3,557,429
Exceptional item			179,905			179,905
Total Expenditure			2,138,747	2449,765	440,913	4,929,425	4,098,441
Net expenditure			(107482)	(45412)	(390,914)	(543408)	(322,936)
Transfers between	funds	11	52,818	(52,818)
Net movement in funds			(54,564)	(98,030)	(390g14)	(543JS8)	(322,936)
Total funds brought	forward		244,728	2SS,609	17,430~2	17,933,669	IS/56,605
Total funds carried	forward		190,164	160479	17,039,418	17490,161	17,933,669

here is no differe quivalents.	nce	between	the net inco	ming resour	ces show	n above and th	eir historical
						31August	31August
Trading EBITDA						2022	2021
						d
Yet expeadilure						($43,$08)	(322,936)
Exceptional item						179,90$
Depreciation aad	am	orti sati on charges				52$,4$9	$21,727
Interest payable						39,023	35,221
Trading EBITDA		(Earnings	Before	Interest,	Taxes,	200,879	234012
Depreciation and	Amartlsatioa		and Excepdoaat Item)

						Nate	31Augast	31 August
							2022	2021
Fixed assets
intangible assets							63477	19,444
Property, Plant and	Equipment					6	17„299~1 17,725,819
Total Axed assets							17~2,778	17,745,263
Carrent assets
Debtors						8	947,730	452,352
Cash at bank and in	hand						1„292/86	1,605,539
Totsleurrent assets							2440,016	2,057,$91
Creditors: amounts	falling		due within one year			9	(1,138,233)	(769,485)
Nct current assets							1,101,703	1,288,406
Total smote less current		lisbiaties					18,464,561	19,033,669
Creditors: amounts	fsllin		duc ager tnore than onc		ear	10	(i,074400)	(I 100,000)
Net assets							17490,161	17,933,669
The funds ofthe group:
Restricted funds
Resuicttxt Fixed Asset Funds							17,039rtI8	I7,430,332
Restricted Income Funds							I60479	258,609
Total restricted funds							17,199,997	17,688,941
Unrestricted fnnds
General funds							139,802	194,366
Designated funds							50@62	50/62
Total unrestricted funds							190,164	244,728
Total group funds							17,390,161	17,933,669
The financial statements		on pages		16to43were approved		by the Trustees on 14Februmy		2023 and
werc signed on their	behalf		by:

						For the year	For the year	For the year
						ending 31		ending 31
						August 2022		August 2021
Net cashflows from by operating			aetivitiest				(183,498)	466,331
Csshflows from investing	activities:
Purchase ofproperty, plant,	equipment			snd intangible	assets		(122,411)	(80,180)
Net cash used in investing	activities						(122,411)	(80 180)
Cashflows from financing	activities:
Loan Repayments								(100,000)
!nterest paid on borrowings							(39023)	(35221)
Net cash used in flnancing	activities						(39,023)	(135,221)
Change in cash and cash equivalents				ia the period			(344832)	250,930
Cash snd cash equivalents	at	the	beginning ofthe		period		1475,967	1,025,037
Cash and cash equivalents	at	the	end	ofthe period			931,035	1,275,967
Reconciliation ofnet movement			in funds to net esshflows			from operating	activities:
Net movement in funds							2,626	377,477
Adjustments for;
Depreciation and smortisstion		charges					62,876	26369
Interest payable							39,023	35,221
(Increase) in debtors							(269478)	(225,450)
(Decrease)/increase in creditors							(120,946)	252,714
Exceptional item							102401
Net csshflows from operating		activities					(183,498)	466,331

						For tbe year	For tbe year	For the year
						ending 31		ending 31
						August 2022		August 2021
Net cashilows from by operating			activities:				(131455)	145,481
Cashflows from investing	activities:
Purchase ofproperty, plant,	equipment			and intangible	assets		(142tt75)	(86,317)
Net cash used in investing	activities						(142,975)	(86,317)
Cashflows from financing	activities:
Loan Repayments								(100,000)
Interest paid on borrowings							(39,023)	(35,221)
Net cash used in financing	activities						(39,023)	(135,221)
Change in cash and cash equivalents				in the period			(313453)	(76,057)
Cash and cash equivalents	at	the	beginning ofthe		period	1,605,539		1,681,596
Cash and cash equivalents	at	the	end	ofthe period			1,292486	1,605,539
ReconeiTiation ofnet movement			in funds to net cashflows from operating				activities:
Net movement in funds							(543~8)	(322,936)
Adjustments for.
Depreciation and amortisstion		oharges					525,460	521,727
Interest payable							39,023	35,221
(Increase)/decrease in debtors							(495478)	83,229
Increase/(decrease) in creditors							163@43	(171,760)
Exceptional item							179,905
Net cashilows from operating		activities					(]31855)	145,481

Land and	Buildings	2%
Computer	Equipment	33%
Buildings		2%- 10%
Fixtures	and Fittings	25%

(a) Donati Group	o	ns a	nd	Legscie	s-
								For the			ii'or the
								year			year
								ending			ending
								3'I			31
								August			August
						Unrestricted	Restricted	2022	Unrestricted	Restricted	2021
									f.	f.	6
Gifts, Donations			and legacies			103,107		103,107	87,941		87,941
Capital Grants'							49,999	49,999		47,000	47,000
Grants of	a	general		nature from
government Foundations		and	Charitable						359,998		359,998
Membership,		Subscriptions			snd
Sponsorship						10/73		10473	4,305		4,305
Donated	oods		and	services		86,644	33 704	120348
						200,124	83703	283 827	452244	47 000	499 44

(a) Donati Charity	o	ns	aad	Legacie	s-
								For the			For the
								year			year
								ending			ending
								31			31
								August			August
						Unrestricted	Restricted	2022	Unrestricted	Restricted	2021
							6		f.		8
Gifts, Donations			and legacies			103,107		103,107	87,941		87,941
Grants of	a	general		nature from
government Foundations		and	Charitable						359,99$		359,998
Membership,		Subscriptions			and
Sponsorship						10,373		10473	4,305		4,305
Donated	oods		and	services		$6644	33704	120 48
						200 124	33704	233828	452,244		452344

By Source	ofFunding		Unrestricted	Restricted	For the year	For the year
					ending 31	ending 31
					August 2022	August 2021
Football coaching sales			368,180		368,180	232,940
Sale ofservices as part		ofthe direct
charitable	activities		135,495		135,495	130,105
Contractual	payments	from government
or public authorities			166,460	867,716	1,034,176	1,214,635
Performance related grants where level
ofincome	depends on	volume ofservice	58,000	1,403, 133	1,461,133	1,108,927
provided
			728,135	2,270,849	2,998,984	2,686,607

By Charitable	Unrestricted	Restricted	For the year	For the year
			ending 31	ending 31
			August 2022	August 2021
				6
Sport and Play	413,128	211,197	624425	478,769
Education	145,421	471,185	616406	684,967
World ofWork	1,572	541,751	543423	375,070
Community	117,616	639,547	757,163	694,412
Health		255,489	2601455	289,266
Core	45,432	151,680	197,112	164,123
	728,135	2,270,849	2,998,984	2,686,607

			Unrestricted	For the year	For the year
				ending 31	ending 31
				August 2022	August 2021
Fundraising	events		113,730	113,730	37,096
Sponsorships	and lottery		82,820	82,820	33,388
Letting arrangements		for Property	24,200	24/00	24,200
Trading activity			882,356	882456	293,339
			1,103,106	1,103,106	388,023

			Unrestricted	Forthe year	For the year
				ending 31	ending 31
				August 2022	August 2021
Fundraising	events		113,730	113,730	37,096
Sponsorships	and lotteiy		82,820	&2,820	33,388
Letting arrangements		for Property	24,200	24,200	24,200
Trading activity			184,399	184,399	102,000
			405,149	405,149	196,684

				For the year ending For the year ending 31	For the year ending For the year ending 31
				31August 2022	August 2021
					5
Cost ofseeking donations		and	grants	123,013	189,751
Fundraising events				66,810	14,029
Sponsorships	and lottery			37&190	30,491
Membership	scheme			2,900	3,000
Other running	costs			443,067	263,186
Depreciation				21,670	I8,063
Marketing and publicity				28/76	22,492
Matchday tickets and stadium			tours	86,644
				809,670	541,012

					Forthe year ending For	the year ending 31
					31August 2022	August 2021
					f,
Cost ofseeking donations			and	grants	123,013	189,751
Fundraising	events				66,810	14,029
Sponsorships		and lottery			37,190	30,491
Membership		scheme			2,900	3,000
Other running		costs			34,212	23,031
Marketing	and publicity				28476	22,492
Matchday	tickets and stadium			tours	86&644
					379,145	282,794

		Sport and	World of	Education	Community	Health	Beacon	Core	2022	2021
		Play f.	Work f.	f	f	f.	ofLight f	f	f	f.
Matchday tickets		18,102	1,040	7,744	258	6,560			33,704
and stadium	tours
Education		414,294	404,851	465,446	566,943	268,269			2,119&803	1,788,580
Depreciation	and	12,575	12,575	12,575	12,575	12,575	440,913	-	503,788	503,666
amortisation
Building'		141,587	119,974	137,603	166,931	58,848			624,943	503,932
Support costs (c)		102,103	83,393	98,652	124,040	30,482		197,112	635,782	725,951
Governance	(d)	4,366	4,366	4,366	4,366	4,366			21,830	35,300
		693,027	626,199	726486	875,113	381,100	4407913	1977112	3,939,850	3,557,429

) Expen	ditur	e by Charit	able Acti	vity —Chari	ty
		Sport and	World of	Education	Community	Health	Core	2022	2021
		Play	Workf				f	f
Matchday		18,102	1,040	7,744	258	6,560		33,704
tickets and
stadium tours
Education		478,620	459,353	527,956	642,776	295,003		2,403,708	2,064,3&9
Depreciation		12,575	12,575	12,575	12,575	12,575		62,875	26,370
and
amortisation
Support cost	(c)	102,103	&3,393	9&652	124040	30482	197,112	635,7S2	725,951
Governance	(d)	3,566	3,566	3,566	3,566	3,566		17S30	28,685
		614,966	559,927	650,493	783215	348,186	197,112	3,153,899	2,845,395

) Expenditure	by Support	Costs —Gr	oup and C	harity
	Sport and	World of	Education	Community	Health	Core	2022	2021
	Play	Work	f	f				f
Administration	36,995	28,206	35,356	47,253	3,413	96,585	247,808	313,129
Director's	2&,213	23,914	27,428	33,274	11,730	43,365	167r924	202,888
Finance Dept	25,163	21,329	24,463	29,677	10,462	37,451	148~5	127,809
HR Dept	841	712	817	991	349	3,942	7,652	7,&26
ITDept	10,891	9,232	10,58&	12,845	4,528	15,769	63+53	74,299
	102,103	83493	9S,652	124,040	30,482	197,112	635,782	725,951

			Forthe year	For the year
			ending 31August	ending 31August
(d) Governance		Costs - Group	2022 f.	2021f
Audit Fees			22,050	21,000
VAT Fees			4050	4050
Total Costs	- Grou		26)100	25 050
Governance	costs	are charged as incurred.

											Yesrended	Year ended
										31	August 2022	31August 2021
Business	rates
Business	rates	relating	to	the	period	ofJune	2018	—August	2021		179,905

											Year ceded	Year ended
										31	August 2022	31 August 2021
Business	rates
Business	rates	relating	to	the	period	ofJune	2018	—August	2021		102@01

Group StaffCosts
	Year ending 31	Year ending 31
	August 2022	August 2021
	8
Staffcosts:
Wages and salaries	2+41,893	2,053,709
Social security costs	157412	169,081
Other pension costs	54,756	72,094
Redundancy costs		3,000
	2,453,861	2,297,884

affemployed	can be further analysed asfollo	ws:
		Year eading 31	Year ending 31
		August 2022	August 2021
Delivery Staff		105	10Q
Support and	Administration
Beacon ofLight Operations
Commercial	and Marketing
Directors
		144	127

		Year ending 31	Year ending 31
		August 2022	August 2021
Audit fee		22,050	21,000
Depreciation		502,542	521,727
Amortisation		22,917
Operating lease costs:
plant and machinery		21@67	19,937
Bank Interest		39,023	35,221
Non-Audit Fees for Tax Compliance	services	4,050	4,050

Charity	Website and data	Total
	warehouse
Cost
As at i September 2021	20,000	20,000
Additions	51,500	51,500
As at 31August 2022	71400	71)500
Accumulated Amortisation
As at 1 September 2021		556
Charge for the Period	191931	19)931
At 31August 2022	20,487	20,487
Net book value
At 31August 2022	51,013	51,013
At 31 August 2021	19,444	19,444
Group	Website and data	Total
	warehouse
Cost
As at 1 September 2021	20,000	20,000
Additions	66,750	66,750
As at 31 August 2022	86,750	86,750
Accumulated Amortisation
As at 1 September 2021	556	556
Charge for the Period	22,917	22)917
At 31August 2022	23,473	23,473
Net book value
At 31 August 2022	63477	63477
At 31 August 2021	19)444	19,444

Charity	Computer	Leasehold	Fixtures and	Total
	Equipment	Buildings	Fittings
Cost
As at 1 September 2021	333,640	75,706	208413	617459
Additions	52,149		18,762	70,911
As at 31August 202	385,789	75,706	226,975	688,470
Accumulated Depreciation
As at 1 September 2021	270,507	74,668	207,986	553,161
Charge for the Period	39,418	1,038	2,489	42,945
At 31August 2022	309,925	75,706	Z10,475	596,106
Net book value
At 31August 20Z2	75,864		16400	92464
At 31 August 2021	63,133	1,038	227	64,399

Group		Computer	Freehold	Leasehold	Fixtures and	Total
		Equipment	Buildings	Buildings	Fittings
Cost
As at 1 September 2020		534,091	18,720,701	75,706	477,111	19,807,609
Additions		52,149			24,076	76/25
As at31August 2021		586~0	18,720,701	75,706	501,187	19,883&4
Accumulated	Depreciation
As at I September 2020		465,138	1,145,515	741668	396,469	2,081,790
Charge for the	Period	45,153	381,316	1,038	75,036	502,543
At 31August	2021	510491	1,526,831	75,706	471,505	2,584433
Net book value
At 31August	2022	75 949	17,193,870		29,682	17499,501
At 31 August	2021	68,953	17,575,186	1,038	80,642	17,725,819

				Charity	Charity	Group	Group
				31 August	31August	31August	31August
				2022	2021	2022	2021
				6	6
Trade Debtors				169,Q27	176,099	260308	239,522
Amounts	due	from Group undertakings		1r300,778	1,506,430
Amounts	due	from Sunderland	AFC Ltd	1,694		8434	4,295
Other Debtors						IQa40	is,783
Prepayments		and accrued income		662,917	182,512	668,948	192,752
				2,134,419	1,865,041	947,730	452,352

				Charity	Charity	Group	Group
				31August	31 August	31August	31 August
				2022	2021	2022	2021
Trade Creditors				41,481	106,165	374,069	439,808
Amounts	due to Sunderland		AFC Ltd	42,969		42,969	749
Other Creditors				76,124	64,371	66,213	64,404
Amounts	due to Group	undertakings		75,624	389,508
Accruals	and deferred	income		529,80Q	223,851	629382	264,524
Charity	Bank Loan			25,600		25,600
				791,598	784,644	1,138433	769,485

		Charity for the	Charity for the	Group for the	Group for the
		year ending 31	year ending 31	year ending 31	year ending 31
		August 2022	August 2021	August 2027.	August 2021
Balance brought forward		152493	316,816	230,734	371,618
Recognised	in year	2,632,490	2,672,038	2,707464	2,710,778
Released in	year	(2,427,126)	(2,836,561)	(2,551,867)	(2,851,662)
Balance carried forward		357,657	152,293	386,131	230,734

			Charity	Charity	Group	Group
			31August	31August	31 August	31 August
			2022	2021	2022	2021
			f			f
Charity	Bank	Loan	1,074,400	1,100,000	1,074,400	1,100,000

Charity	Charity
Fund balances at 31 August 2022 are represented		by;	Unrestricted	Restricted	Total
Tangible Fixed Assets				143,377	143377
Investments
Net Current Assets			1,182,256	1,091,600	2473,856
Creditors: amounts	falling due aller one year			(1,074,400)	(1,074,400)
Total funds			1,182,256	160,579	1442,835

			I September	Income	Expenditure	Transfers	31August
			2021				2022
General funds			1,031,238	1,333,408	(1,001,673)	(231,079)	1,131,894
Designated funds
Contingency fund			50,362				50462
Total designated		funds	50,362				50462
Total unrestricted		funds	1,081,600	1,333,408	(1,001,673)	(231,079)	1,182456
Restricted funds:
Education				478,929	(549,287)	70,358
World ofWork				542,791	(538,547)		4443
Sport and Play				229,299	(308,491)	79,192
Community			258,609	639,805	(742,078)		156~6
Health				262,049	(343,579)	81,530
Core				151,680	(151,680)
Total restricted	funds		258,609	2,304,553	(2,633,662)	231,079	160,579
Total funds			1,340,209	3,637,961	(3,635,335)		1442,835

Group
Fund balances at 31		August 2022 are represented			by:	Unrestricted Restricted			Total
Tangible Fixed Assets							17,362,778		17+62,778
Net Current Assets							190,164	911,619	1,101,783
Creditors: amounts	falling due atter I year						(1,074,400)		(1,074,400)
Total funds							190,164 17,199,997		1'7,390,161
The funds can be further analysed as follows:
			31	August		Income	Expenditure	Transfers	31August
					2021				2022
						f,		f
General funds				194,366		2,031,365	(2,138„747)	52,818	139,802
Designated funds
Contingency fund					50,362				50462
Total desigaated		fands			50,362				50c362
Total unrestricted		funds		244,728		2,031,365	(2,138,747)	52,818	190,164
Restricted funds:
Education						478,929	(486,777)	7,848
World ofWork						542,791	(484,046)	(54,502)	4443
Sport and Play						229,299	(244,172)	14,873
Community				258,609		639,805	(666,245)	(75„833)	156/36
Health						262,049	(316,845)	54,796
Core						151,680	(151,680)
Beacon ofLight			17,430,332			49,999	(440,913)		17%039,418
Total restricted	funds		17,688,941			2,354,552	(2,790,678)	(52,818)	17,199,997
Totalfunds			17,933,669			4,385,917	(4,929,425)		17490,161

Education		includes Post 16Football Scholarship and, secondary	includes Post 16Football Scholarship and, secondary	education
		projects.
World ofWork		Family Learning programmes (based in	Durham, Sunderland,
		and South Tyneside) and employability courses.
Sport and	Play	Community football teams, the Regional	Talent Club	and in and
		out ofcurriculum coaching in Durham,	Sunderland,	and South
		Tyneside,
Health		Includes suicide prevention, physical and	mental health projects,
		over 55s and veterans' delivery sessions,	and the Coal to Goals
		project.
Community	Inclusion	Youth Engagement activity and disability	projects.
Beacon ofLight		Grant funding received for the construction of the		Beacon of
		light facility, funding capital expenditure	on the project and the
		depreciation charges on the build.
Core		Digital, including the website and E-Learning platform.

31 August the Group had tota	l commitments	under non-cancellable o	under non-cancellable o	perating lease	s, as follows:
		31August 2822			31August	2021
Group	Land and	Other	Total	Land and	Other	Total
	buildings			buildings
Within one year		4,784	4,784		13,986	13,986
Between one to five years		12,757	12,757		17,541	17,541
Total		17,541	17,541		31,527	31,527