Charity registration number 1090916 Company registration number 04312794 (England and Wales) SAINTS FOUNDATION {SFC) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
SAINTS FOUNDATION (SFC) LEGAL AND ADMINISTRATIVE INFORMATION Trustees M Abrahams R Jackson T Croucher E Yovng B Walker R Goldsworthy B Umfleel A Hendon-John IAppolnled 19 October 20231 IAppointed 19 Oclober 20231 {Appointed 19 O¢lober 20231 {Appoinled 19 Oolober 20231 Charity number 1090916 Company number 04312794 Registsred officé Sl Maws Stadium Britannia Road Southamplon Hampshire S014 5FP Auditor Fiander Tovell Limited Slag Gales House 63164 The Avenue Southampton Hampshire S017 1XS
SAINTS FOUNDATION (SFC) CONTENTS Page Trustees repori Independent auditor's repori Slalemenl of financlal activities Balance sheet 10 Slalemenl of cash flows 11 Ntsl8s lo thè finaneial slatèmÈnls 12-25
SAINTS FOUNDATION {SFC) TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2023 The Iruslees present Ihtsir annual report and financial statements for the year ended 30 June 2023. The financial statements have been prepared in aordanCe with the accounting policies set out in note 1 to the financial statemenls and comply wilh the charill5 governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Pradice applicable lo charities preparing their accounts in accoidance wlh Ihè Financial Reporting Slandard applicable in the UK and Republic ol Iieland IFRS 1021" {effeclive 1 January 201 gi. Objectives and activities for public beneflt The charitable company Is established for the promotion of community participation in healthy recreation for thè benefit ol children in full lime education and disadvantaged adults residing in the county of Hampshire and other neighbouring areas by the prowsion ol facilities and opportunities for the playing of and learning through football. The trustees confim) that they have given careful consideration lo the Ch8rily Commissitsn's guidance on public benefit when reviewing the charity's aims and objects'ves for the year. The Irusltre5 judge that all ¢harilable actiwty made meets this guidanc8. Achievements and performance The 2022123 finallcial year was another successful year for Saints Foundation, wlh ovef 5,000 people, aged from 5 to 96, across the city support8d lo achieve Iheir goals through our various projects. This support was delivered via 15 different programmes, including things that might be expected, such as using football as a positive influence for young people, but also things that rnighl be more surprising, like activities to improve the wellbeing of older people. or help ex-offenders find a new path in life. Most importantly. from an outcomes perspective our work has again proven to b8 èxtremely impactlul. with more than 80tsA of our partieipants reporting at least one positive outcome le.g. irnproving their mental wellbeing. increasing Ihelr aspirations for the future, elcl. Our portfolio of projects was bolstered by the launch of two new, mental health fUSed projects during the year, namely 'Saints By Your Side,, a project, delivered in partnership with the NHS ICB, supporting adult men and 'Advanlage', which works with young people referred through Children & Families First who are identified as needing additional support around their emotion81 wellbeing. Both have already started making a positive impact. and will no doubt conlinue lo develop and grow in the years to follow. Project sasslons arè delivered predominantly by either full-lirne or casual membèrs of staff, Ihouoh we do also have a small numb81 of volunteers supporting the delivery ol aclivilies. In terms of fundraising. we hosted another successful 'Sainls Foundation Chaiily Dinner,, whilst we also work8d closely with local companies, Barrall Dawd IAfi150n Homes and DP World, to deliver bespoke diriners engaging their partners and contractors. In addition, we delivered another successful Big Bike Challenge, this time from Liverpool, and a new 'Benali on Tour, walking event. a5 well as a large variety ol other events and inilialives lo help U5 raise important unrestricted funds. The year also saw us launch a new schème called Patron Saints, which inwles lo¢al high-nel worth individuals who are passionate about the city and our work lo conlribule financially, as well as employing our first ever dedicated 'Grants Fundraising Executive,, who helped us bling in more grant income than ever before. April 2023 also saw us launch our new sliategy plan, 'Supporting Soulhamplon, which sets out how will continue lo engage with communities across the city in the coming years, focusing on supporting those who find themselves in most need. This was borne out of rnonlhs of dedicated work, which included significant community and stakeholder consultation. and culminated in us agreeing a new Theory of Change as well as an updated vision, mission and purpose with our Trustees. As such, going foTward we will have five key areas of focus 'Hè3llh'. 'Education'. 'Gender Equality,, 'Employability' and 'Palhways'_ all working towards our over811 go81 of supporting those who feel the irnpact of inequalities the most.
SAINTS FOUNDATION {SFC) TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Key Partnershlps The eharily's ongoing success is based on slrono partnerships with a variety of local and national stakeholders. as delivery partners and funders, or sometimes both. For example, we receive funding and support from a number of different SoUrs, including from SoLJlharnplon FC, Premier League Charitable Fund. the Professional Footballers Association. National Lollery Comtnunily Fund. Children in Nead. Soulhamplon City CouncAI. Police & Crime Commissioner's Office. Inlegraled Care Board and the European Union, as well as an array of local eornrnunily groups, Individuals and businesses. The latter in¢ludes those supporting us via our Corporate Patrons and Patrons Saints schemes. Additionally, a majority of OUT projects are ¢Jelivered in partnership with other charities and organisations, including nearly 30 different schools located across the city of Soulhamploll, various local aulhority partnèrs and facets of the NHS, as well as a variety of local community group5. All ol these partnerships ale inle9ral lo the success and suslainabilily of our delivery model, and, most importanlly, improving the outcomes for the thousands of young people and adults with whorll we work each year. Financial review During the year ending 30 June 2023 the charity re¢efved income amounting to £2,470,176 12022.. £2,548,139). ReSoUrS were expended of £2,418,73712022.. £2,213,618). The surplus for the year of £51.439 {2022'. £334,521) has resulted in a cash outflow in the year of £96,640 due to working capi131 movements 12022.. £7.4201 and 8 surplus in unr6slricled funds of £1,091,126 {2022'. £1,000,178). The year end cash position stood at £1,469,770 12022. £1,566.410}. Golng Concarn 2022123 was a Positive year financially. wilh us recording a year-end surplus of £51,439 taking our overall flee reserve al year end lo £1,091,126. This means that whilst we have not quile fulfilled our ambition of holding six months opeiating costs in resetve, as sel our in our Reserves Policy, there has been slgnific8lll progress made to achieve that goal. As of 30th June 2023 oui free reserve would cover 95°A of six months opeialing costs. HowevÉr, dèsprfie our positive reserve position as outlined abov8, we aTe aware that there are some Impending fin8n¢ial thallenges, which we will need lo carefully manage in order lo ensure that we can survive, and more importantly thrive going forward. Our key partner, Soulhamplon Football Club was relegated frorn the Premier League in May 2023, which has18d lo a significant drop in funding that we are eligible lo receive from Ihe Premier League Fund. whilst - like most other charities we are also feeling the irnpacl of the cosl-of-living crisis in other areas. Due lo the above. the Trustees have approved 3 budget for the period to end of December 2024 which includes a £200k deficit. This budget is deemed lo be entirely realistic and achievable, and slre55-lesling has been performed to demonstrate the ability of the charity lo meet its obligations as they fall due, even with unexpected redLJclions In income streams, induding both grant funding and fundraising. This budget was approved on the basis of the charity holding a very healthy reserve, but, most importantly. supporting it to continLJe lo fulfil ils purpose of supporting some of the most vulllerable people living in the city of Southamptorl. This approach also provides the charity's Leadership team with time lo adapt to its new ¢urrenl sIIu8li0n, both in terms of managing costs and maxirnising fundraising opportunilies going fon3[d. However, il 15 the shared view of Trustees and the eharily's Leadership team that the 2024125 financial year should see the charity al least breakeven. which - if sufficient new funding is not secured may lèad lo sorne sliuclural changes from summer 2024. In addition, the chaiily continues lo benefit from the donation in kind of office space and certain support functions from Soulhamplon Football Club and consequently has 8 low base of administrative costs that are not direclly related lo particular charitable activilios. A new Service Level Agreemenl between Sain15 Foundation and Southampton Football Club was signed in summer 2022. meaning that a similar levol of 5UPPOrt will conlinue for the foreseeable future. As such, after careful consideration. the Trustees are of the view th81 Ihe charity has sufficient liquidity to continue lo operate during the period in question. and indead long into the future, and therefore consider il 8ppiopriale lo continue to prepare the financial statements ori 8 going concern basis.
SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Fundraising Saints Foundation are signèd up to the Fundraising Regulato¢s voluntary reoistralion scheme and consider themselves fully cornplianl with the guidelines as sel out. Any new initiatives are signed off through the Chlef Executive Officer of Saillls Foundation and Trustee Board before commencing, and success is measured IhroLJgh a series of financial and operational KPIS, a5 set out in our fundraising s118legy. During the Iinanclal year. no associated complaints wÉre received. and due lo our main method of fundraising being through the running ol events, a local business patrons, club and the sale of iterns on our auotion sile, we are confident that no one will have felt under any undue pressure lo support us. Reserves Policy In accordance with Charily Commission guidellnes the trustees consider that the charity should hold reserves lo meet appioximalely 6 months expenditure. The lolal reseNes ol Ihe company as al 30th June 2023 amount to £1,164,924 01 which £4,981 is held in fixed assets and £1,091,126 is considered free reserves. This sufficiently covers approximately 5.7 months of expenditure. Plans for future periods As always, our primary commitment is to ensure that we continue tts support people across the city of Soulhamplon. with a focLJS on reaching those that neèd our support the most. We will do that not only through making sure Ihal our projects remain safe and relevant, bul also by continuing to grow and diveisify our income streams to ensure that we- and our many projects- are susl8in8ble long into the future. This objective has only been strengthened by the launth of our new slralegic plan, as outlined abov@. As mentioned in the 'going concern, section above, Southampton FC'S relegation frorn the Premier Lèague, as well changes to land5C8pes more generally, has led lo some new challenges around funding, and thus the next year will be one of consolidation, rather than growth. That said, we will launch one new programme during the 2023124 financial year, that being 'S8inls Restart,, which will support prisoners leaving HMP Winchester to pos11ively iesettle in the city of Soulhampton. As part ol our new strategic plan, we also are committed to growing our expertise and delivery in both 'Employabilily' and 'Gender Equality. and well as expanding our disability offer, which forms a key part of our 'Heallh' locus area moving fotward - however, as all are dependent on accessing new funding il is cutrenlly uncertain when any new delivery will commence. From fundiaising perspective, as well as running sirnil8r events and inilialives as in previous years, to include our Charity Dinner, Big Bike Challenge, Benali on Tour. elc, wè will also recommence a Charity Quiz Night, which will help us raise awareness of our work and impact locally. In addition, we will continue lo develop and grow our Corporate Patrons and Patron Saints offers, engaging local busin855 and high-new worth individuals respecllv&ly, structure. gov8mance and management The Company. which is a registered ¢harily, is limited by guarantee and does not have any share capital. The liability of each member under guarantee does not exceed the sum of £1. 11 is governed by a Memorandum and Article5 of Association. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signalure of the financial slalements were.. M Abrahams R Jackson T Shaw P Bolwell T Croucher A Gross Eyoung 8 Walker R Goldsworthy B Utnfleet A Hendon-John (Resigned 19 Odober 20231 (Resigned 12 December 20221 (Resigned 3 July 2023) {Appoinled 19 October 2023) {Appolnted 19 October 20231 (Appointed 19 Octobei 20231 (Appointed 19 October 20231
SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Recrultment of Trustees The Board of Iruslees is responsible for appointing Iruslees who have lo be nominated and elected al a Board meeting. The Trustee Board was bolslered by Iwo new additions immediately prior to the start of the financial year {30th June 20221. namely Emma Young and Aleksander Gross, both employees of Soulhamplon FC who were appointed after a competitive process run between Saints Fokjndation and the football club. with the final say on 811 recruitment given to existing Trustees. Trustee Induction and Tralnlng The trustees have in place prooedures for the induction and training of trustees when required. Both Emma Young and Alexsander Gross were given a thorough induction during the year, including being inwted on a nutnber of project visits, as well as being added to the training and development offer afforded to all other Trustees. Organlsatlonal Structurè The trustees decide the long term strategy for the charitable company,. they set the budgets, review performance on a monthly basis utilising the resources of a Finance Manager, supported by the Southampton Football Club Finan Department, instigating change when reqLJired. The trustees have appointed a Head of the Charity (Chief Executive Officer), who runs the oper31ions of the charitable company on behalf of the Iiuslees. The Chief Executive Offic6r (Greg Baker) is assisted by a team of staff dedicated to running the day to day operations of Saints Foundation, made up of Sam Fulling (Chief Operating Officer), Jamie Skinner (Head of Project Operations). Lucy Horne (Head of Impact & Insighll. Nicole Wilde (Head of Maikeling & Fundraising) and Jazz Bhatli (Head of Partnerships & Business Development). The Chief Executive Officer also sils on both the Club Executive Team and ils Leadership team, being join on the laller by the Chief Operating Officer. This helps build and maintain links behveen the two organi5alions, with Soulhamplon FC considered a related party. Thèie is a Service Level Agreement in place between the Iwo, setting out the support provided to the charity fiorn the club, which indudes a dedicated office spaoe, access lo HR, IT and legal support, as well as granting usage of the football club's Intelleelual Property marks. The Iruslees lake advi and consider similar organisations when deciding the level of pay for the Chief Executive. whilst that of the rest of the Senior Management Tearn and all olher staff is delegated by the Board lo the Chf Executive Officer. Remuneration and Benefits for those staff is set using benchmarking, including through regular data compiled by and shared by the Premier League as well as using local intelligence around typical rates for similar rdès, as w811 as being based on experience and performan¢e metrics. Risk Management The trustees actively review the major risks which the charitable company face5 on a regular basis. The charitable ompany has developed syslerns to monitor and control these risks and lo manage any impacl they may have on the charitable company's future. The systems of internal control lo provide reasonable, but not absolute, assurance against maler*al misstatement or loss. Théy includÉ'. A strategic plan and an annual budget approved by the trustees.. Monthly management accounts which show variance from budget and re-forecasl anlicipaled resulls for the year, whieh are reviewed by the trustees., Delegation of authority and segregation of duties", and The loss of funding, non-perfoiman¢e against largels and fraud.
SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Statèment of trustees responsibilltles The trustees, who are 8150 the directors of Sain15 Foundation ISFCI for the purpose of wmpany law, are responsible for preparing the trustees report and the financial statements in accordance with appli¢abl8 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees lo pr6pare financial staternents for each financial year which give a true and fair view of the slate of affairs of the charily and of the incoming resources and application of resources, including the income and expenditure, of the charitable cornpany for that year. In preparing these finana81 statements. the trustees are qL)ired to.. sélect suitable accounting poIleS 3nd then apply them consislenlly.. observe tha mèthods and principle5 in th8 Charities SORP.. make judgernenls and estimates that are reason8ble and prLJdenl', slate whether applicable UK Accounting Standards havo been followed, subject to any material departures disdosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless il is Inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequala accounting records that disclo88 Wlth rèasonable accuracy al any time the financial position of the charily and enable them to ensure that the financial statements comply with the Companies Acl 2006. They a also responsible for safeguarding the assets of the chaiity and hence for taking reasonable sleps for the prtsvenlion and detection of fraud and other irregularilies. Auditor In accordance with the company's articles, a resolution proposinu th81 Fiander Tovell Limited be reappolnled as auditor of the company will be pul al 8 General Meeting. Presentation of financial statements The charity has decided to change th& presentational formatting of the SOFA and its associated notes lo prode 3 clearer view of the charily's actiwlies. This has involved the reslatemenl of the comparative figures. A prior year reslalement has also been made in order lo recognise restricted income re¢Èiv8d in that year which had previously been deferrtrd. More detail is given in note 24. Disclosure of Infomiation to auditor Each of the Iruslees has confirmed that there is no infomalion of which they are aware which is rèlèvanl to the 8LJdil, but ol which the auditor is unaware. They have further confirmèd thal they have taken appropriate stèps to idèntify such relevant information and lo establish Ihal the auditor is 8W8re of such informalion. Thè trustees report was approved by the Board ofTruslees. R Jackson Trustee Dale.. ..TrJ..
SAINTS FOUNDATION (SFC) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SAINTS FOUNDATION (SFC) OpinioTJ havo audited the finan¢i81 slalemenls of Saints Foundation ISFCI Ilhe 'charity'l for the y08r trnded 30 June 2023 which compiise the slalemenl of financial activities, the balan sheet, the slatetnenl of cash llows and notes lo the financial stalernents, including significant accounting poliaes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Finan¢lal Reporting Standard 102 The Financial Reporting Standard appliGable in the UK and Republic of Ireland Iuniled Kingdom Gen&rallyAe¢epled Accounting Practi1. In our opinion, the financial statements.. give a true and fair view of the state of the eharilable company's affairs as al 30 June 2023 and of its incoming resources and appliealion of resource$, including ils income and expenditure, for the year then ended., have been properly prepared in accordanee with United Kingdom Generally Accepted Accounting Praetiee., and have been prepared in accordance with the requlrernenls of the Companies Act 2006. Basis for opinion We wndu¢led our au¢Jil in accordan with International Standards on Auditing IUKI IISAS (UK)) and applicable law. Our Tesponsibililies under those standards are further described in thè AudiloHs responsibililies for Ihe aiidit of Ihe financial slatemenls section of our report. Wé are indeptsndenl of the chaTily in accordan with the ethical requirements that are relevant lo our audit ol the financial slalemenls in the UK, including the FRC'S Elhi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficAent and appropriale lo provide a basls for our opinion. Concluslons rèlatlnu to golng concèrn In auditing Ihe financial statements, we have eonduded th31 the ITuslees use of the going concem basis of aecounling in the preparation of the financlal slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties rel81ing lo events or conditions thal, individually or collectively. may cast significant doubl on the oharily's ability to continue as a going concem for a period of at least Iwelve months from when the financial slalements are aulhorised for issue. Our responsibilities and the responsibilities of the Iruslees with respect lo going coneem are described in the relevant sections ol this report. Othèr information The other information compris&s the Information induded in the annual report other than the financial stalemenls and our audito¢s report Ihereon. The Iruslees are responsible for the other information eontained within the annual report. Our opinion on the financial statements does not cover the other infom)8tion and, ex¢epl lo the extent olherwise explicitly staled in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsislenl with the finanaal slalemenls or our knowledge obtained in the course of the audit. or otheNise appears to be materially misstated. If we identify such mgterial inconsistencies or apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the financial statements Ihernselves. If. based an the work we have performed, we conclude that there is a matèrial miss181emenl of this other information. we are required to report Ihat 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 our audit.. the information given in the Iruslees report for the financial year for which the financial statements are prepared, which includes the directors. report prepared for the purposes of cc>mpany law, is Consistent with the financial slalements., and the directors, report induded within the Iruslees report has been prepared in aceordan¢e with applicable legal requirements.
SAINTS FOUNDATION {SFC) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SAINTS FOUNDATION {SFC) Matters on which we are required to raport by exception Ill the lighl ol the knowledge and understanding of the charity and 115 environment obtained in the course of the audit, we have not idenlilied materi81 misstatements in the directors, report included within the Iruslees report. We have nothing to report in respe¢l of the following matters in relatn to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or the financial statements are not in agreement with the accounting records and relums; OT certain disclosures of Iru5tees' remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the trustees were not entitled lo prepare the fin3ncial statements in accordance with the small companies regime and lake advantage of the srnall companies, exemptions in preparing the trustees report and from the requiremènt lo prepare a slralegic report. Responsibilities of trustees As expl8ined more fully in the statement of trustees responsibilities, the Iiuslees. who are also the directors of the charity for the purpose of ¢ompany law, are responsible for the preparation of the financial slalemenls and lor bèing 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 slalemènts that are free from material misstatement, whether due lo fiaud or error. In preparing the finanaal slalemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going ¢oneern basis of aeeounting unless the Iruslees either intend lo liquidal8 th8 charitable company or to ase operations, or have no realislic allernative bul to do so. Auditor's responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the Iinancial slalamènls as a whole are Ie from materigl misslal8m8nt, whether due to fraud or error, and to issue an 8udilor's report that includes our opinion. Reasonable 8s5urance is a high level of assurance but is not a guaranlee that an audll conducted in accordance with ISAS {UKI will always delecl a material misstatement when il exists. Misstatemenls can aris8 from fiaud or error and are considered material if, individually or in the aggregate. they could reasonably be expeded lo Influence the economic decisions of useis taken on the basis ol these financial slatemenls. The extent to whith our procedures are capable of delecling irregularities, including fraud, is detailed below. Extent to which the audit was considered capaljle of detecting irregularities, including fraud Our approach lo idenlilyino and assessing the risks of rnaterial misstatement in respect of irregLJlarities, including fraud and non-mplianc8 wilh13ws and regulations, was as follows.. the engagement partller ensured that the engagement team colleclive1y had the appropiiale compet8n, capabilities and skills lo identify or r8cognise non-compliance with applicable laws and regulaliolls. we identified the laws and regulaliolls applieAble to the company through discussions with directors and c>ther management. and from our commercial knowledge and experience. we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or Ihe operations of the cornpany, including the Companies Act 2006. taxation legislation, dala protection, employment, environmental and health and safely legislation. we assessed the extent of compliance with the laws and regulations idenlifled above through maklng enquiries of managemènt. We assessed the susceptibilily ol the company's financial slalemenls lo materi81 misstatement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered the was susceptibility to fraud. their knowledge of actual, suspected and alleged fraud. considering the intemal controls in pla to mitigate risks of fraud and non-eompliance with laws and regulations.
SAINTS FOUNDATION {SFC) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SAINTS FOUNDATION (SFC) Audlt rnspons8 to rfsks Idèntlfie To address the risk of fraud through management bias 8nd overiidts of ¢onlrols, we.. perfortned analytical pmcedLJres lo identify any unusual or unexpected relationships. lesled joumal entries lo identify unusual Iransaclions. tested a sample of BACS payments to idenlify paymenis being made to unexpecied bank ac¢ounls. performed transactional testing on payroll cosls in respect of those èmployeès with responsibility or aulhorily in connection with the payroll fun¢lion. assessed whelher jud9emenls and assumptions made in determining the accounting estimates wero indicative of potential bias. investigated the rationale behind significant or unusual Iransaclions. In response lo the risk of irregularities and non-compliance with laws and regulations, we designed procedLJrés which included. bul were not limiled lo.. agreeing financial statement disclosur6S to underlying supporting documentation. enquiring of management as lo adual and potential Iilig81ion and claims. There are inherent limitations in our audit procedures described above. The more removed th31 laws and regulations are from financial transactions, the less likely it is that we would becomè aware of non-compliance. Auditing standards also limit thè aLJdil procedures required lo identify non-compliance with laws and regulations to enquiry of the diredors and other rnanagemenl and the inspection of regulatory and legal correspondence, if any. Material rnisstalemenls that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting CouncAI's website at.. https'.11 www.frc.org.ukJaudilorsresponsibilities. This desuiplion forrns part of our auditor's report. Use of our report This report is made solely lo the charitable company's mernbers, as a body, in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable company's members those matters we are required to state to them in an audilorfs report and for no olh8r purpose. To the fullest extent pemitled by law. we do not accept or assume iesponsibility lo anyolle other than the charitable company and the ¢h8rilable ¢ompany's members as a body, for our audit work, for this report, or for the opinions we have fomied. Mark Gregory ACA (Senior Statutory Auditor) for and on behalf of Fiander Tovell Limited 5 February 2024 Chartered Accountants statutory Auditor Slag Gales House 63164 The Avenue Soulh8iMplon Hampshire S017 1XS
SAINTS FOUNDATION {SFC) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 2022 as rèstatsd as restatèd as restated Total 2023 Notes Income and endowments from: Donations and legacies Ghsrilable activities Other trading activities Investments Other income 617,088 484.995 617,088 1.505,270 553,273 548,482 553.273 1,111.696 1.660.178 1,040,275 327.054 13.252 7.512 327,054 13,252 7,512 334,688 334.e88 Total income 1,429,901 1,040,275 2,470,176 1,436,443 1,111.696 2,548.139 Ex enditure on= Raisillg funds 216.272 216,272 142.732 142,732 Charitable 8cliwlies 1,025,493 1,176,972 2.202,465 1,072.497 998.389 2,070,886 Total expenditure 1,241.765 1,176,972 2,418,737 1,215,229 998.389 2.213.618 Net incominglloutgoingl resources before transfers 186.136 {136,6971 51,439 221,214 113.307 334,521 Gross transfers between funds 197,1881 97,fj88 Net incomellexpenditure for thè yearl Net movement in funds 90.948 139,5091 51,439 221,214 113,307 334,521 Fund balances 81 l July 2022 1,000,178 113,307 1.113,485 778.964 778,964 Fund balances at 30 June 2023 1,091.126 73,798 1,164,924 1,000,178 113,307 1.113,485 The slalement of financial activrties includes all gains and losses recognised in the year. All income and expenditure derNe from conlinuing aetimties. The statement of financial aciivities also complies with the requirements for an inctsm8 and expèndilure account under the Companies Act 2006.
SAINTS FOUNDATION {SFC) BALANCE SHEET AS AT 30 JUNE 2023 2023 2022 as restated Notès Fixed assets Tangible assèts 14 4.981 4.706 Current assets Debtors Cash al bank and in hand 1S 231,184 1.469,770 284,058 1,566,410 1.700,954 1,850,468 Creditors- amounts falling due within one year 16 1541,0111 (741,6891 Nel ¢urrenl assals 1,159.943 1,108,779 Total assets less current liabilities 1,164,924 1,113.485 Income funds Reslri¢led funds Unrestricled funds 19 73.798 1,091,126 113.307 1.000,178 1.164.924 1,113,485 The financial statements were approved by the Trustees on S I R Jackson Trustee Company gIStratIon number 04312794 10_
SAINTS FOUNDATION {SFC) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Notes Cash flows from operating actlvltlès Cash absorbed by operations 22 1109.1511 11,7321 Investing activities Purchase of tangible fixed assèts Procéeds from disposal of tangible fixed assets Invèslmant income received 15,0551 7,512 13,252 Net cash generated fromllused inl investing activities 15.709 Financing actlvltl•s Payment of obligations under finance leases {3,198) (5,688) Net cash used in financing activities 13.1981 15,6881 Net decrease in cash and cash equivalents 196.6401 17,4201 Cash and cash equivalents at beginning ol year 1,566.410 1.573,830 Cash and cash equivalents at end of year 1.469.770 1.566,410
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 A¢countlng pollcles Charity information Saints Foundation ISFCI is a private cornpany limited by guarantee incorporaled in England and Wales. The registered office is Sl Marfs Stadium. Britannia Road. Southampton, Hampshire. S014 5FP. 1.1 Accounting convention The financial stat8ments have bèan prep3red in accordanc8 with the ch8rily'5 Memorandum and Articles of Asso¢ialion, the Companies Act 2006. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" l FRS 1021 and the Charities SORP "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 Republi¢ of Ireland IFRS 1021" (effective l January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The finanual statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these linaneial stal8mènls are rounded lo the nearest £. The financial statements have been prepared under the historical cost ¢onvenlion. The principal a¢¢ountlng polieiÉs adopted arè set OLJt below. 1.2 Golng concern At the lime of approving the financral slalements, the Iruslees have a Teasonable expecialion that the charily has adequate resources to continue in operab'onal existence for the foreseeable future. For further information on this please see the Going Concem section of the TrLJStees Report on page 2. Thus Ihe trustees continue to adopt the going concern basis of accoLJnting in preparing the financi81 $18lemenls. 1.3 Charitable funds Unrestricted funds are available for use at thè diser6tion of thè Irustoès in furtheran¢e of their tharilable objectives. Re51rioled funds ale subjed to specific condition5 by donois as lo how they may be used. The purSeS and uses ol the restricted funds are set out in the notes lo the financAal slatemenls. 1.4 Income All income is recognised in the slalemenl of financial a¢llvilies when the ndItionS for reIpl have been met. the monetary value of the inming resources can be measure with sufficient reliability and Ihere is reasonable assuranoe of receipt. The following accounting polieS are applied to income., Income from charitable activities Income from charitable activities represents income from the delivery of the charitws Core projects. The income is accounted for on a receivable basis. Incoming resources from Servi level agreements are recognised on performance. Donatlons Donations represent eore-funding. donations from corporates and individuals and those dedicating volunteèr events to the ¢harily. Where services are provided al no cost, thè valu8 of those services sie Irealed as 8 donation in kind with the respective wsl chaiged lo expendituie. Voluntary incorne includes income from legacies that are accounted for on notification by the personal representatives and the value of the legacy can be measured reliably and the receipt of that amount is probable. 12-
SAINTS FOUNDATION {SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 Accounting polKcl•s (Continued) Fundraising Fundraising inwme r&près8nls the monies received from supporters of the company fundraising events and are accounted for al the lime of Ihe event. The charily operates a malchday lollery which is accounted for in line with the lotlery accounts and an auction site whieh recognises income on selllemenl of the bid. Stadium tours are accounted lor in the period in which the tours lake place. Interest income Interest on funds held on deposit is included when receivable and Ihe amount can be rneasured reliably by the charily., this is normally upon nolific8lion of th8 intèrest paid or payable by the bank. 1.5 Expenditure Resources expended, accounted for on an accruals basis, are allocated between costs of charitable expenditure and fundraising. Costs of raising funds These are costs which arè dir8etly related lo the raising of voluntary donations and grants and publicising the aclivilies of the charity. Costs of charitable activities Costs of charitable activities include serwces supplied klentifiable as wholly or mainly in support of the charitable company's objectives. Dire¢l costs are allocated against the acts'vities of the Gharily and support costs are apportioned on the basis of staff numbers. 1.6 Tangible fixed assets A15 assets over £1,000 are espitalised. Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel of depreciation and any irnpairmenl losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Plant and equipment 3- 5 year straight line The gain or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end date, thè charity reviews Ihe carrying amounts of ils tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. 11 any such indication exists, the recoverable amount ol the asset is estimated in order to delermine the extent of the impaiimenl loss lil any). 1.8 Cash and cash equivalents Cash and cash equivalents include eAsh in hand, deposits held al call with banks, other short-leirn liquid inveslrnenls with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current Siabililies. 13-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies Icontinuedl 1.9 Financial insiruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Instrumenls, and Section 12 'Olher Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial insliumenls are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of Ihe instrument. Financial assets and liabilities are offsèt, with the net amounts presented in the financial stalern8nts, when there is a legally enforceable right lo sel off the recognised amounts alld there is an inlelllion lo settle on a nel basis or to realise the as5el and sellle the liability simultaneously. Ba$1¢ flnanclal assets Basic financial assets, which inelLJde debtors and eash and bank balances, are initially measured al transaction pri¢e inoluding transaction ¢osls and artr subsequently carried al amortised wsl using the effective interest rnelhod unless the arrangement conslilules a financing Iransaclion, where the transaction is measured at the present value of the future reiptS discounted al a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial Iiabililies, including credilois and bank108ns ale initially rewgnised al transaction price unless the arrangement conslitules a financing Iiansaclion. where the debt inslrurnent is measured al the present value of the future payments discounted al a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rale method. Trade credilors are obligations lo pay for goods or services Ihal have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one yèar or less. If not, they are presented as non-current liabilities. Trade eredilors are re¢ognised initially 81 Iransaclion price and subsequently measured al amortised cost using the effective inleresl method. Dèrèeognltlon of flnanclal liabilitles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused hollday enlillemenl is recognlsed in the period In which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo lerminale the employmènt of an employee or lo provide lerminalion benefits. 1.11 Retirement benefits The charity operates a defined contribution plan for ils employees. A defined contribution plan is a pension plan under which the charily pays fixed contributions into a separate enlily. Once Ihe contributions have been made the charity has no Ivrther payment obligations. The conliibulions ar& rttcognised as an èxpènse in th6 st8t&mÈnts of financial a¢livili8s when thèy fall due. Amounts not paid ale shown 5eparalety as a liability in the balance sheet, The assets of the plan are held separately from the charity in the administered funds. 14-
SAINTS FOUNDATION {SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies Icontinuedl 1.12 Leases Where subslanlially all of the, risks and rewards inadenlal lo ownership of the leased asset have been transferred to the charity, the 8ssel is the lower of the fair value of the lease property and the present value of the minimum lease payments payable over the term ol the lease. The corresponding lease commitment is shown as a liability. Lease payments are an81ysed between capital and interest. The interest element is charged lo the slalemenl of financial activitie5 over Ihe period of the lease and is calculated so thal it represents a constant proportion of the lease li8bilily. The capital element reduces the balanee owed to the lessor. Critical accounting estimates and judgèments In thè application of the charilvs accounting policies, the Irus18es are reqUId to make judgements. estimates and assumptions about the carrying arnounl ol assets and liabilities that 8re not readily apparent from other sources. The eslimales and associated assumptions are based on historical experi8nce and other factors Ihat are considered lo be ielevant. Actual results may differ from these eslimales. The estimales and underlying assumptions are rewewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period ol Ihe revision and future periods where the revision affects both current and future periods. There are not considèrèd to be any key sources of estimation uncertainly. Donations and legacies Unrestricted Unrestricted funds funds 2023 2022 as restaied Community donations Individual donations Corporate gifts Donatèd sarvices 20,863 97.260 373.965 125,000 45,326 32,014 308,933 167,000 617.088 553,273 15-
SAINTS FOUNDATION {SFC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Charitable activities Charitable Charitable Income Incomè Evènts Events 2023 2022 as restated Performance related grants 1.505,270 1,660.178 Analysis by fund Unrestricted funds Restricted funds 464,995 548,482 1,040,275 1,111,696 1,505,270 1,660,178 Other trading activities Unrestricted Unrestrlcted funds funds 2023 2022 as rèstated Auctions Events & activities Gift aid Matchday lollery 34,185 259,684 17,377 15.808 64,937 231,959 15,000 22,792 Other trading acb'vities 327.Q54 334.688 Investments Unrestricted funds Total 2023 2022 Interest receivable 13.252 16-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Other income Unrestricted funds Total 2023 2022 Nel gain on disposal of tangible fixed assets 7,512 Raising funds Unrestricted Unrestrictsd funds funds 2023 2022 as restated Fundraisin and ublicil Malchday lollery Events & activities Corporate activities Advertising Auction sile 59 101.562 100,838 3,756 10,057 162 94,411 37,267 931 9,961 Fundraising and publiuly 216,272 142,732 17-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Charitable activities Charitable Charitable Expenditure Expenditure Projects Projècts 2023 2022 as restated Staff costs Oeprecialion and impairment Overheads 1,799,203 1,641,354 4,780 9,973 248.842 231.759 2.052.825 1,883.Q86 Share of support costs {see note 101 Share of governance costs (8ee note 1 Cl) 125.000 24,640 167,000 20,800 2,202,465 2,070,886 Analysis by fund Unrestricted funds Restricted funds 1,025,493 1,072,497 1,176,972 998,389 2,202.465 2,070.886 10 Supportcosts Support Governance costs costs 2023 Support Governance costs costs as restated as restated as restated 2022 Donated services 125,000 125,000 167.000 167,000 Audit fees Insurances 13,440 11,200 13,440 11,200 9,600 11,200 9,600 11,200 125.000 24,640 149,640 167,000 20,800 187,800 Analysed between Charitable activities 125,000 24,640 149,640 167,000 20,800 187.800 11 Trustees None of the trustees lor any persons eonnecled with them) received any remuneration or benefits from the charily during thè yèar. 18
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 12 Employees The average monthty number of employees during Ihg year was.. 2023 Number 2022 Number Direcl Adminislralion Part lirne coaches 52 47 33 19 Total 88 69 Employmant costs 2023 2022 as restated Wages and salaries Social security c051s Other pension costs 1,804,988 142,454 51,761 1,462,921 132,020 46,413 1.799,203 1,841,354 Part time coaches nurnbers are based on full lime equivalenl8. Key management personnel include all senior managers aosS Saints Foundation (SFCI, who together have authority and responsibility for planning. directing and controlling the 8Ctlvilies of the ¢harfly. The lolal cotnpensation paid to key management personnel for services provided lo the ch8rity was £244.721 {2022'. £248,832). The number of employees whose annual remuneration was more Ihan £60,000 is as follows.. 2023 Number 2022 Number £60,00110 £70.000 £80,001 lo £90.000 13 Taxation The charily is exempt from tax on income and gains fallillg within section 505 of the Taxes 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent Ihal these are applied lo ils chaiilable objects. 19-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 14 Tangible fixed assets Plant and equlpmont Cost Al 1 July 2022 Additions Disposals 117,289 5,055 1112,4071 At 30 June 2023 9,937 Depreciation and impairment Al 1 July 2022 Depreeialion charged in the year Eliminated in respect of disposals 112,583 4,780 1112,407) At 30 June 2023 4.956 Carrying amount AI 30 June 2023 4,981 AI 30 June 2022 4.706 The nel carrying valve tsf18ngible fixèd assets indudes the following in respect of assets held under finane6 leases or hire purchase conlracis. The depreciation charge in respect ol such assets amounted lo £2,700 {2022'. £5,400) for the year. 2023 2022 Plant and equipment 2,700 15 Debtors 2023 2022 Amounts falllng dua wlthin one year.. Trade debtors Prepayments and accrued income 153,744 77,440 42,015 242,043 231,184 284,058 -20-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 16 Creditors: amounts falling due within one year 2023 2022 as restated Notes Obligations under finan leases Other taxation and social security Deferred income Trade creditors Other creditors Accruals 3,198 31,219 253,660 7,115 264,759 181,738 38,491 360,679 6,354 109,778 25,709 17 541,011 741,689 Finance lease liabilities are secured over the assets lo which they relate. 17 Deferred incom• 2023 2022 as restated Other deferred income 360.679 253.660 Defeired income is included in th8 financial statements as follows.. 2023 2022 as restatèd Deferred income is induded within.. Current liabilities 360,679 253,660 Movgmènls In thè yèar.. Deferred income al 1 July 2022 Released frorn previous peiiods Resources deferred in the ye8r 253,660 1253,6601 360,679 492,020 1492,0201 253,660 Deferred income al 30 June 2023 360,679 253,660 The deferred incorne relates lo project funding, courses and events due lo lake pla¢ts in future periods. 18 Retirement benefit schemes Defined contribution schemes The charily operates a defined conliibulion pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an indepeNdenlSy administered fund. The charge to profit or loss in respect of defined contribulion schemes was £51,761 12022- £46,413). 21
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SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 20 Analysls of nèt assets between funds Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 2022 as restated as restated as restated Total 2023 Fund balances al 30 June 2023 are represented by.. Tangible assets Current assetsllliabilitiesl 4.981 1,086.145 4,981 1,159,943 4,706 995,472 4.706 1.108.779 73.798 113,3Q7 1,091,126 73.798 1,164,924 1.000,178 113,307 1,113,485 21 Related party transactions SoLrthampton Football Club is considèrèd to ba a related party due to ils influence over the charity. During the finanual year, Soulhamplon Football Club committed donations of £31,926 (2022.. £110,593). Included in this amount is a total of £19.631 (2022.. £nill donated by the CILJb in rÈspèct of lime costs provided by the Foundation. A total of £nil12022.' £98,298) is induded In prepaymen15 & a¢xrued income al the year end. A payable balance of £99,101 12022.. £253.3981 has arisen from purohases from Southampton Footb811 Club and is induded wilhin ueditors falling due within on year al the year end. Southampton Football Club h8$ provided 8dminislr¥live and other support with an estimated value of £125,[0(2022". £167,000). this has been recognised as donations and equivalent support cosl. At the yèar end £nil12022'. £nill was oulslanding on the balance sheet. 22 Cash generated from operations 2023 2022 as reststed Surplus for the year 51,439 334,521 Adjuslmenls for.. Invoslmenl income recognised in slalemenl of financaal activities Gain on disposal of langlble flxed assets Depreciation and impairment of tangible fixed assets 113.2521 {7.5121 4,780 9.973 Movements in working capital.. Decreasellincre3sel in d8blors (Decreasellincrease in creditors Increaselldecrease) in deferred inaome 52,874 1304,499) 107,019 1165.1741 57,308 1238,3601 ash absorbed by operations {109,1511 {1,7321 24-
SAINTS FOUNDATION (SFC) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 23 Analysis of ¢hanges In net funds At l Juty 2022 C88h flovjs At 30 June 2023 Cash al bank and in hand 1,566,410 196,6401 1,469,770 Obligalions under finance leases 13,1981 3,198 1,563,212 193,4421 1,469.770 24 Prior period adjustment Changes to the balance sheet At 30 June 2022 As pr8viousIy Adju5tmenl r8POrted As restated Credltors due within one year Deferred income 1366.9671 fj13,307 1253.6601 Capllal funds Income funds Reslricled funds Unrestricted funds 113,307 113.307 1,000.178 1.000.178 Total equity 1.000,178 113,307 1,113.485 Changes to the profit and Ios5 account P8rlod 8nd8d 31J June 2022 As prevoously Adjustment A$ restated reported Income from= Charitsble activities 1.546.871 113,307 f,680.178 Net movement in funds 221.214 113,307 334.521 Notes to reconciliation The comparative information has been adjusted lo release the deferral of underspent funds received in respect of a number of projects in the year. The lunders allow these funds lo be used in ie5pect of activities in future years and therefore are carried forward in the restricted fund. -25-