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 a￿ordanCe 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 f￿USed 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 SoUr￿s, 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).
ReSoUr￿S 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 fon￿3[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 Ch￿f
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 poI￿leS 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 pro￿de 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 Practi￿1.
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 relat￿n 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 I￿e 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 pur￿SeS 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 re￿Ipl have been met.
the monetary value of the in￿ming resources can be measure with sufficient reliability and Ihere is
reasonable assuranoe of receipt. The following accounting poli￿eS 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 re￿iptS 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 reqUI￿d 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 a￿osS 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

rOr4)
o 0> (o (Q O <0
10 10 O ¢0 N m
O r ¢Y) r in
Or¢Df
¢Dooo
¢oooo
r ¢FJmoo
I r (
00￿
Lr) o Lr)
¢Yi P4 ￿ LXI
O tx Ttr
J Di * ￿ ¢Or r ¢D
)<0 LrJ_ (o
in ¢0 ID r <0 CD
(O 0> ￿ ¢Q- (YJ
o¢D
oo¢D
Or
U)(nU) ¢( o Oo)

cno

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-