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← Saints Foundation (Sfc)

2025-06-30-accounts

Charity registration number 1090916 (England and Wales)

Company registration number 04312794

SAINTS FOUNDATION (SFC) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

SAINTS FOUNDATION (SFC)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees B Walker
R Goldsworthy
B Umfleet
A Hendon-John
R Wheeler-Osman
J Few
P Parsons
F Benali
A Kaur-Heer (Appointed 14 April 2025)
H Fisher (Appointed 14 April 2025)
Charity number (England and Wales) 1090916
Company number 04312794
Registered office St Mary's Stadium
Britannia Road
Southampton
Hampshire
S014 5FP
Auditor Fiander ETL
Stag Gates House
63/64 The Avenue
Southampton
Hampshire
SO171XS

SAINTS FOUNDATION (SFC)

CONTENTS

Page
Trustees report 1-8
Independent auditor's report 9-11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notestothefinancialstatements 15-28

SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and financial statements for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities for public benefit

The charitable company is established for the promotion of community participation in healthy recreation for the benefit of children in full time education and disadvantaged adults residing in the county of Hampshire and other neighbouring areas by the provision of facilities and opportunities for the playing of and learning through football.

The trustees confirm that they have given careful consideration to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives for the year. The trustees judge that all charitable activity made meets this guidance.

Achievements and performance

The 2024/25 financial year saw a strong performance from all areas of the charity, with record achievement of positive outcomes by our participants, and record public fundraising revenue to be able to sustain our project delivery. Alongside these two key areas, our governance function continued to strengthen with the implementation of a new risk process, alongside updated financial management processes. Saints Foundation also delivered its first ever Social Return on Investment study, which was a comprehensive piece of work run with data from the 2023/24 delivery year. Delivered by the external research organisation Substance, it provided us with social value figures for each project, each pillar of work and for the charity’s project delivery as a whole; returning a figure of £1:£5.34 and an overall social value of £7,381,255. We used the figures to demonstrate publicly to put a £ figure to the impact that we are making, using it with stakeholders to demonstrate the return on their investment, and with donors to highlight the cost effectiveness of donating to Saints Foundation. We took an honest approach with the figures, as ever demonstrating that there is work to do and that we have not done everything as we would have liked to. Running our 24 ‘Our Impact’ event provided an opportunity to bring our stakeholder together and demonstrate both our social value, and the impact to individuals through a participant panel. Whilst this was not a fundraising event, the conversations and positive engagement have led to new opportunities, which certainly made it worthwhile.

The financial year also saw the return of Southampton Men’s first team to the Premier League, and with that, the knock on positive effect of additional funding via the Premier League Charitable Fund. Taking the learnings of previous years, the charity chose to draw down the money over a longer period of time to support project sustainability, rather than use it all within the year. This prudent financial planning is part of a strategy to use money well when it is available, but to plan for the longer term. This chose to be wise, as we also saw the relegation of the team back to the EFL Championship in May, which will have an impact to the charity’s funding allocation for the 2025/26 year.

In project delivery terms the year was successful, with the majority of projects being sustained, and pilot initiatives developed in other areas. Despite this we did have to phase down the Advantage project due to the end of funding, and no further funding being made available locally. Where this was a partnership with Advantage CIC, we are working closely with them to identify future funding for this project, where there is still a clear need locally. We have continued to establish newer projects, such as Saints By Your side which has become cemented locally as a crucial part of the health model locally, engaging adult males to support their mental health through the power of the SFC badge. The strong reputation and credibility that we have developed working with young people involved in or at risk of involvement in criminality, or exploitation, led to us being awarded a short term contract with Southampton City Council on a Focussed Deterrent project, to work with young people in a preventative capacity. We hope to continue this work into 2025/26, working closely with a range of other charities in the city who also provide youth work.

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SAINTS FOUNDATION (SFC)

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

A financially successful year was underpinned by our successful Corporate Patrons Scheme, the growth of Patron Saints donor club and our highest ever revenue from our annual Charity Dinner. We are incredibly fortunate to be able to count on the support of Southampton Football Club and whilst this is delivered in a number of ways we see it visibly through our charity matchday, which enables the charity to promote itself, raise awareness and raise funds on one matchday each season. This years’ matchday sawa fully integrated approach, with participants being able to shadow various staff on the matchday, as well as having opportunities to be mascots and flag wavers. We are also fortunate to have the support of both men’s and women’s first team players, and had players involved in a range of case study videos, as well as attending our charity dinner which provided a really unique and memorable experience for the participants that were seated with them.

This year also saw us undertake an updated Needs Analysis to review the information and data which informed our strategy. The Needs Analysis is a comprehensive piece of work, undertaken internally by our head of Impact & Insight, taking into account available data, as well as views and information from stakeholders, participants and staff. Three years on and the picture has not improved, which demonstrates that we have much more to do. This Needs Analysis led into a into Strategic Review, involving staff at all levels and the Trustee Board, to review what had been achieved in the current strategy period and what might need to change as a result of both our outcomes and the refreshed Needs Analysis. This review will lead into an updated Strategy in 2025/26, to set out a roadmap for the next few years.

Key partnerships

Saints Foundation continues to work closely with and alongside a range of partners in order to deliver our projects, with support continuing to come from the football family in the form of the Premier League Charitable Fund and The Professional Footballers Associations, alongside the English Football League Trust and Southampton FC. We have maintained relationships with key funding partners such as The National Lottery Community Foundation, Children in Need, and Southampton Hospital Charity. Within the year we have also built strong relationships with St James’ Place Foundation, The Triangle Trust and the IMP Trust, who have invested further in the projects which they support. We have also worked closely with partners such as Hampshire’s Police and Crime Commissioner, Hampshire’s Integrated Care Board and Integrated Neighbourhood Teams, as well as various departments within Southampton City Council to deliver on their priorities, and access funding as a result.

A key development within the year has been the creation of a partnership with P&O Cruises, and Carnival UK, which was initiated through Southampton Football Club’s sponsorship. The partnership has extended far beyond just a donation and has resulted in sharing of good practice and the development of a genuine partnership, bringing benefits to Saints Foundation and the staff at P&O Cruises. We are excited to continue developing this partnership into 2024/25 and better engaging employees in our work.

At a local level our schools continue to be crucial partners, whether Secondary, Primary or Specialist, across all of our projects, whether in school or the community. We actively collaborate with other community organisations and statutory partners in the city to support those who need it and are well represented across a number of networks and forums within the City. Our partnerships with Yellow Door and Communicare, on the respective projects continue to ensure we work with and alongside specialists, to support key issues in the city.

Financial review

During the year ending 30 June 2025, the charity received income of £3,058,630 (2024: £2,770,935) and expended resources of £2,957,030 (2024: £2,899,093). This resulted in a surplus for the year of £117,015 (2024: deficit of £128,158). The year saw a cash outflow of £839,611 (2024: £15,653), largely due to working capital movements and the placement of £750,000 in an investment portfolio with Rathbones. Unrestricted funds increased to £1,092,924 (2024: £959,646), while the year-end cash position stood at £614,506 (2024: £1,454,117).

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SAINTS FOUNDATION (SFC)

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Going concern

The 2024/25 year was financially strong, supporting a positive recovery from the prior year and increasing free reserves to £1,092,924, which is £1,798 higher than in June 2023. As of 30 June 2025, free reserves equate to 4.17 months of operating costs, down from 5.24 months in June 2023. This reduction is primarily driven by rising costs, which, while budgeted for and sustainable, continue to present a challenge.

The Men’s First Team relegation in 2024/25 also reduced league-linked funding for 2025/26. Drawing on experience from the 2022/23 relegation, safeguards were implemented by phasing key funding streams over multiple years rather than releasing them in a single cycle. This approach positions the charity well over the next few years and reduces dependency on league position.

Southampton Football Club continues to provide significant support to the charity by providing discounted office space, access to St Mary’s Stadium and contributing resources to aid Saints Foundation’s operations, which remains invaluable in these challenging times.

As a staff-focused charity committed to the Real Living Wage, we continue to prioritise employee welfare. Rapid inflation and the April 2025 increase in Employers’ NI have raised staffing costs, while many funding streams have not kept pace. These pressures are fully reflected in our financial plans, and we remain vigilant in monitoring them.

In response to these challenges, the Board of Trustees authorised a breakeven budget for 2025/26. This will be achieved by increasing our fundraising surplus by a further 9% (following a 29% year-on-year increase in 2024/25) while actively nurturing existing partnerships and pursuing new funding opportunities aligned with our strategic objectives. The budget was approved on the basis that the charity will maintain healthy reserves, with a forecast balance ofjust over four months’ full operating costs in June 2026, ensuring we can continue to fulfil our purpose of supporting those most in need in the community.

In addition, the Trustees recognise the value of investing free reserves in low-risk portfolios to optimise returns on cash held and reinvest the proceeds back into delivering the charity's objectives.

The Trustees remain resolute in ensuring the Foundation’s long-term sustainability. On this basis, they are confident that the charity has sufficient liquidity to continue operating during the period in question and beyond and therefore consider it appropriate to prepare the financial statements on a going concern basis.

Fundraising

We are signed up to the Fundraising Regulator's voluntary registration scheme and consider ourselves fully compliant with the guidelines as set out. The fundraising team plan a full year of income generation activity in advance, based on developing existing successful services and initiating new activities to grow the charity's audience. Any new initiatives are proposed by the staff team and signed off through the Managing Director of Saints Foundation and Trustee Board before commencing. Success is measured through a series of financial and operational KPI's, as set out in our fundraising strategy.

During the financial year, no associated complaints were received, and due to our main method of fundraising being through the running of events, a local business patrons’ club and an online donation lottery, we are confident that no one will have felt under any undue pressure to support us.

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Reserves policy

In line with Charity Commission guidelines, the Trustees consider it prudent for the charity to hold reserves to cover operational expenditure in the event of a significant drop in income. The Reserves Policy, last updated in October 2023, remains at four months’ running costs, balancing financial security with maximising funds for the charity's purpose. Looking ahead, the Trustees may consider moving towards a ‘wind-down model’ approach, which would provide a more realistic assessment of the reserves required to sustain operations in the event of a structured closure.

As of 30 June 2025, total reserves amounted to £1,153,781, of which £783,155 is held in fixed assets and £370,626 in current assets. Of total reserves, £1,092,924 is classified as free reserves, while £60,857 is restricted to specific project delivery. These reserves provide sufficient cover for approximately 4.17 months of full operating expenditure.

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SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Investment policy

The Trustees have authorised that the charity hold reserves not immediately required for operational purposes in cash and managed investments to safeguard capital while generating a modest return. Investments are made in line with the charity’s governing documents and with due regard to risk, liquidity, and ethical considerations. The investment portfolio is monitored regularly to ensure it remains appropriate to meet the charity’s ongoing expenditure requirements and strategic objectives. Performance is reported to the Trustees at each meeting.

Plans for future periods

The 2025/26 delivery year will see an updated commitment to supporting people in Southampton most impacted by inequalities. Following the Needs Analysis and Strategic Review undertaken during 2025, the updated strategy will see a refreshed set of targets and a clear roadmap for the priorities the charity will deliver on over the next 3 years. The work undertaken also includes a set of targets for growth of existing projects, or additional work where we think the charity has a place to deliver to meet need. Whilst our focus in the year ahead is on sustaining our current delivery, during a tough climate, we also want to retain the ambition to support even more people in Southampton who need us.

We know that the 2024/25 year saw record achievements in our project delivery, as demonstrated by our participant engagement numbers and record outcomes achieved by participants. However, this achievement did have an impact to the wellbeing of staff, given the demands of operation, and also, in some cases, an impact to the quality of our delivery. We have taken learnings from the insight generated, to be able to implement changes in delivery, where for example, the increased engagement in our secondary school work, saw a drop in the number of outcomes an individual pupil might achieve; more focused contact, delivers better delivery of outcomes in this circumstance. We have also taken the learnings in regard to staff welfare, with our aim to ensure that we better manage staff resource across the year, particularly where there are staffing gaps, and will provide external support to staff to avoid burnout. We will continue to invest in our Monitoring, Evaluation & Learning, including completing a fresh Social Return on Investment calculation to understand our Social Value over time. The social value figure was a useful tool in 2025, to demonstrate financial return, but we know that it is one of many measures to assess our impact, and just as importantly we will continue to use our impact data internally to make changes to project deliver, to be able to deliver more outcomes for the people we work with.

After a number of personnel changes in the organisation during the year, not least in the change of CEO, a priority for the year ahead is in ensuring that there is a defined people resource and the development of a People Strategy. The aim of the People Strategy will be to set out our plans to create an outstanding culture, which develops people and enables all staff to deliver their role to the best of their ability. We know that staffing gaps created an additional challenge to an already lean organisation, so we continue to work on the efficiency of our delivery, without sacrificing quality. A new initiative which will support our capacity is the recruitment of a new member of staff to deliver against our new Volunteering Strategy. As a charity the Foundation has notn’t been setup to capitalise on the generosity and goodwill we know exists. By growing our pool of volunteers to support current delivery, we will create a pathway for our participants to develop their aspirations further and be able to integrate volunteers effectively with staff at sessions, to make the most effective use of our funding for specialist delivery.

As ever we will retain a significant focus on income generation, with the fundraising team tasked with increasing fundraising revenue, and importantly surplus to cover the increasing costs of maintaining service delivery. The impacts that we have seen this year of static grant costs, increases in National Insurance Contributions and the Real Living Wage, mean that it costs even more to run the Foundation, just to maintain the current level of delivery. Our public fundraising income has grown significantly over the last 3 years, and this financial year the targets set are ambitious, in order to sustain project delivery in light of the ever-increasing costs. This will be met by growing our successful Corporate Patrons programme into new geographical areas in Hampshire, including Winchester and Andover, identifying champions in the areas who have an affinity with our delivery in Southampton. Additionally, we have invested in additional resource in the team to manage the growth in corporate partnerships, and to have a real focus on Community fundraising, to grow our base of supporters. Continuing to diversify income in order to be less reliant on a single source, and to grow reliable revenue is a priority target both over the next year, and within the 3 year strategic plan.

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SAINTS FOUNDATION (SFC) TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Structure, governance and management

Saints Foundation is governed by Articles of Association last reviewed in 2022. The Articles of Association set out the charitable purposes for public benefit in the following terms:

¢ promotion of community participation in healthy recreation ¢ for the benefit of children in full time education and disadvantaged adults residing in the County of Hampshire and the neighbouring area ¢ by the provision of facilities and opportunities for the playing of football and learning from football.

The Board of Trustees, who are also the legal directors for the purpose of company law, serve a three-year term, after which they are eligible for re-election for a maximum of two further three-year terms in all. The ten trustees that served during the year and up to the date of signature of[the][financial][statements][were:]

T Croucher (Resigned 12 December 2024)

B Walker R Goldsworthy B Umfleet A Hendon-John

R Wheeler-Osman J Few

P Parsons F Benali A Kaur-Heer (Appointed 14 April 2025) H Fisher (Appointed 14 April 2025)

There was a changeofthe Chair of Trustees in 2024/25 with previous chair T Croucher standing down at the end of her term, and R Goldsworthy being appointed in December 2024, with the appointment of a Vice-Chair J Few in March 2025.

Recruitment and appointment of trustees

New Trustees are selected through an open recruitment process, which includes advertising, a targeted recruitment search and a panel interview process. H Fisher and A Kaur Heer were appointed in April 2025 as new trustees to bring the Board to ten trustees. We were delighted to bring both Helen and Amen onto the Board, with their strengths adding to the already strong Board. Helen will particularly help us to navigate the ever evolving statutory landscape in regards to the health and physical activity sector, whilst Amen also brings an understanding of the local authority setup and governance, her expertise around staff wellbeing will be particularly important as we develop our People Strategy. New appointees are given an induction programme. All Trustees have access to a range of training opportunities to help them meet their responsibilities including project visits. The balance of Trustees is kept under review to make sure there is a range of skills and diversity. The Board of Trustees also places particular emphasis on appointing individuals who bring specific identified skills and experience. The Board of Trustees met four times for scheduled meetings in 2024-25.

The Trustee Board is bolstered by two Southampton Football Club employee representatives with Phil Parsons (SFC CEO) and Ros Wheeler (SFC Club Secretary), who were appointed through agreement between Saints Foundation and the football club representatives before being nominated, with the final say on all recruitment given to existing Trustees. Their appointment is for a one-year renewable term in March each year.

Trustee induction and training

A development programme of training for all Trustees was run during the 2024/25 year and included all statutory training for trustees such as safeguarding, data protection and health & safety as well as impact and project updates and fundraising training.

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SAINTS FOUNDATION (SFC)

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Organisational structure

Awritten schedule of matters is reserved for decision by the whole Board of Trustees. This includes:

Matters not reserved for decision by the Board of Trustees are delegated either to one of the Board sub committees or to the Managing Director.

The charity’s governance arrangements are kept under regular review to make sure the Board of Trustees, its sub committees and its governance structures and procedures are fit for purpose as the charity and environment evolve. This is undertaken through a Governance Review process which started in July 2024 and which the Board of Trustees have oversight of.

Sub-committees of the Board of Trustees with delegated responsibilities were established during 2024 to strengthen financial investment and compliance matters. They are:

Three trustees sit on each committee along with staff and report to the Board at their following meeting each cycle.

Management

The trustees have appointed a Managing Director who runs the operations of the charitable company on behalf of the trustees. The Managing Director is Sam Fulling who was appointed permanently to the role in December 2024 and is assisted by a team of staff dedicated to running the day-to-day operations of Saints Foundation, made up of Robert Pearce (Head of Project Operations), Lucy Horne (Head of Impact & Insight), Charlie Martin (Head of Fundraising & Marketing) and Jazz Bhatti (Head of Partnerships & Business Development), Nicole Wilde (Head of Charity Operations) and Sandy Foster (Legal Advisor).

The Managing Director of Saints Foundation has a role on Southampton Football Club’s Leadership team. This helps build and maintain links between the two organisations, with Southampton FC considered a related party. There is a Service Level Agreement in place between the two, setting out the support provided to the charity from the club, which includes a dedicated office space, access to HR, IT Safeguarding and Legal support, as well as granting usage ofthe football club's Intellectual Property marks.

The trustees take advice and consider similar organisations when deciding the level of pay for the Managing Director whilst that of the rest of the Senior Management Team and all other staff is delegated by the Board to the Managing Director. 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 roles, as well as being based on experience and performance metrics.

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SAINTS FOUNDATION (SFC)

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Risk management

The trustees actively reviewed the major risks which the charity faces in 2024/25 of which there were ten key ones. The charity has developed systems to monitor and control these risks and to manage any impact they may have on the charity’s future. Risks are included within the Risk Register which informs the Board Assurance Framework which is reviewed by the trustees each cycle through their Audit, Risk & Compliance Committee. The Board Assurance Framework has the top five key risks for the charity which form the basis for reporting to the board.

The systems of internal control to provide reasonable, but not absolute, assurance against material misstatement or loss. They include:

Statement of trustees responsibilities

The trustees, who are also the directors of Saints Foundation (SFC) for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Fiander ETL be reappointed as auditor of the company will be put at a General Meeting.

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SAINTS FOUNDATION (SFC)

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees report was approved by the Board of Trustees.

R cdkey Trustee Date: woh O.I2).0-028

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SAINTS FOUNDATION (SFC)

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF SAINTS FOUNDATION (SFC)

Opinion

We have audited the financial statements of Saints Foundation (SFC) (the ‘charity’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of[the][financial][statements][is][appropriate.]

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections ofthis report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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SAINTS FOUNDATION (SFC)

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SAINTS FOUNDATION (SFC)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of[these][financial][statements.]

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

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SAINTS FOUNDATION (SFC)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income from:
Donations and legacies 3 1,037,866 - 1,037,866 894,146 - 894,146
Charitable activities 4 332,778 1,282,670 1,615,448 397,384 1,089,707 1,487,091
Other trading activities 5 378,212 - 378,212 346,137 - 346,137
Investments 6 27,104 - 27,104 43,561 - 43,561
Total income 1,775,960 1,282,670 3,058,630 1,681,228 1,089,707 2,770,935
Expenditure on:
Raising funds 7 299,923 - 299,923 287 834 - 287,834
Charitable activities 8 1,344,313 1,312,794 2,657,107 1,431,549 1,179,710 2,611,259
Total expenditure 1,644,236 1,312,794 2,957,030 1,719,383 1,179,710 2,899,093
Net gains/(losses) on
investments 13 15,415 - 15,415 - - -
Net income/(expenditure) 147,139 (30,124) 117,015 (38,155) (90,003) (128,158)
Transfers between
funds (13,861) 13,861 - (93,325) 93,325 -
Net movement in
funds 9 133,278 (16,263) 117,015 (131,480) 3,322 (128,158)
Reconciliation of funds:
Fund balances at 1 July 2024 959,646 77,120 1,036,766 1,091,126 73,798 1,164,924
Fund balances at 30 June
2025 1,092,924 60,857 =1,153,781 959,646 77,120 1,036,766

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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SAINTS FOUNDATION (SFC)

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 15 16,917 9,471
Investments 16 766,238 -
783,155 9,471
Current assets
Debtors 17 488,598 523,482
Cash at bank and in hand 614,506 1,454,117
1,103,104 1,977,599
Creditors: amounts falling due within 18
one year (732,478) (950,304)
Net current assets 370,626 1,027,295
Total assets less current liabilities 1,153,781 1,036,766
The funds of the charity
Restricted income funds 21 60,857 77,120
Unrestricted funds 22 1,092,924 959,646
1,153,781 1,036,766

The financial statements were approved by the trustees on AO). 12f-02S { iy KW)=[INL] 2) [| R Ghiabworthy Trustee

Company registration number 04312794 (England and Wales)

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SAINTS FOUNDATION (SFC)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|25|(104,115)|(51,055)| |Investing|activities| |Purchase|of tangible|fixed|assets|(12,600)|(8,159)| |Purchase|of|investments|(750,000)|-| |Investment|income|received|27,104|43,561| |Net|cash|(used|in)/generated|from|investing| |activities|(735,496)|35,402| |Net|cash|generated|from|financing|activities|-|-| |Net|decrease|in|cash|and|cash|equivalents|(839,611)|(15,653)| |Cash|and|cash|equivalents|at|beginning|of year|1,454,117|1,469,770| |Cash|and|cash|equivalents|at end|of year|614,506|1,454,117|

----- End of picture text -----

-14-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Charity information

Saints Foundation (SFC) is a private company limited by guarantee incorporated in England and Wales. The registered office is St Mary's Stadium, Britannia Road, Southampton, Hampshire, SO14 5FP.

1.1. Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include listed investments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For further information on this please see the Going Concern section of the Trustees Report. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

All income is recognised in the statement of financial activities when the conditions for receipt have been met, the monetary value of the incoming resources can be measure with sufficient reliability and there is reasonable assurance of receipt. The following accounting policies are applied to income;

Income from charitable activities

Income from charitable activities represents income from the delivery of the charity's core projects. The income is accounted for on a receivable basis. Incoming resources from service level agreements are recognised on performance.

Donations

Donations represent core-funding, donations from corporates and individuals and those dedicating volunteer events to the charity. Where services are provided at no cost, the value of those services are treated as a donation in kind with the respective cost charged to expenditure.

Voluntary income 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.

-15-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

(Continued)

Fundraising

Fundraising income represents the monies received from supporters of the company fundraising events and are accounted for at the time of the event.

The charity operates a matchday lottery which is accounted for in line with the lottery accounts and an auction site which recognises income on settlement of the bid. Stadium tours are accounted for in the period in which the tours take place.

Interest income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest 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 are directly related to the raising of voluntary donations and grants and publicising the activities of the charity.

Costs of charitable activities

Costs of charitable activities include services supplied identifiable as wholly or mainly in support of the charitable company's objectives. Direct costs are allocated against the activities of the charity and support costs are apportioned on the basis of staff numbers.

All assets over £1,000 are capitalised.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to 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 difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7. Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

-16-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised 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 to terminate the employment of an employee or to provide termination benefits.

-17-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.12 Retirement benefits

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been made the charity has no further payment obligations.

The contributions are recognised as an expense in the statements of financial activities when they fall due. Amounts not paid are shown separately asa liability in the balance sheet. The assets of the plan are held separately from the charity in the administered funds.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed 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 of the revision and future periods where the revision affects both current and future periods.

The trustees do not consider there to be any key sources of estimation uncertainty.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Community donations 33,540 30,040
Individual donations 126,563 114,770
Corporate gifts 767,763 624,336
Donated services 110,000 125,000
1,037,866 894,146

-18-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

4 Charitable activities

Charitable Charitable
Income Income
Events Events
2025 2024
£ £
Performance related grants 1,615,448 1,487,091
Analysis by fund
Unrestricted funds 332,778 397,384
Restricted funds 1,282,670 1,089,707
1,615,448 1,487,091
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Auctions 34,803 39,504
Events and activities 300,398 258,739
Gift aid 23,124 22,920
Matchday lottery 19,887 24,974
Other trading activities 378,212 346,137
6 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interestreceivable 27,104 43,561

-19-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

7 Raising funds

==> picture [468 x 570] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |2025|2024| |£|£| |Fundraising|and|publicity| |Matchday|lottery|643|186| |Events|&|activities|151,183|148,218| |Corporate|activities|144,098|129,336| |Auction|site|3,926|8,266| |Community|activities|73|1,828| |Fundraising|and|publicity|299,923|287,834| |8|Expenditure|on|charitable|activities| |Charitable|Charitable| |Expenditure|Expenditure| |Projects|Projects| |2025|2024| |£|£| |Direct|costs| |Staff|costs|2,167,097|2,120,317| |Depreciation|and|impairment|5,154|3,669| |Overheads|349,530|333,373| |2,521,781|2,457,359| |Share|of support|and|governance|costs|(see|note|10)| |Support|110,000|125,000| |Governance|25,326|28,900| |2,657,107|2,611,259| |Analysis|by fund| |Unrestricted|funds|1,344,313|1,431,549| |Restricted|funds|1,312,794|1,179,710| |2,657,107|2,611,259| |9|Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for|the|audit|of the|charity's|financial|statements|13,600|17,700| |Depreciation|of owned|tangible|fixed|assets|5,154|3,669|

----- End of picture text -----

-20-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

10 Support costs

Support costs
Support Governance 2025 Support Governance 2024
costs costs costs costs
£ £ £ £ £ £
Donated services 110,000 - 110,000 125,000 - 125,000
Audit fees - 13,600 13,600 - 17,700 17,700
Insurances - 11,726 11,726 - 11,200 11,200
110,000 25,326 135,326 125,000 28,900 153,900
Analysed between
Charitableactivities 110,000 25,326 135,326 125,000 28,900 153,900

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year, but one of them was reimbursed a total of £62 travelling expenses (2024 - no trustees were reimbursed).

In the year, one of the trustees was paid £2,400 (2024: £nil) in respect of services in promotion of the charity's events.

12 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Direct 56 56
Administration 4 4
Part time coaches 30 29
Total 90 89
Employment costs 2025 2024
£ £
Wages and salaries 1,924,290 1,881,556
Social security costs 178,795 169,503
Other pension costs 64,012 69,258
2,167,097 2,120,317

Part time coaches numbers are based on full time equivalents.

-21-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

12 Employees (Continued)
The number ofemployees whose annual remuneration was more than £60,000
is as follows:
2025 2024
Number Number
£60,001 to £70,000 - 1
£90,001 to £100,000 - 1
£100,001to£110,000 1 -

Remuneration of key management personnel

Key management personnel include all senior managers across Saints Foundation (SFC), who together have authority and responsibility for planning, directing and controlling the activities of the charity. Their remuneration is as follows:

remuneration is as follows:
2025 2024
£ £
Aggregate compensation 441,078 358,035
13. Gainsandlossesoninvestments
Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluationofinvestments 15,415 -

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

15 Tangible fixed assets
Plant and
equipment
£
Cost .
At 1 July 2024 13,214
Additions 12,600
At 30 June 2025 25,814
Depreciation and impairment
At 1 July 2024 3,743
Depreciation charged in the year 5,154
At 30 June 2025 8,897
Carrying amount
At 30 June 2025 16,917
At 30 June 2024 9,471
16 Fixedassetinvestments
Listed
investments
£
Cost or valuation
At 1 July 2024 -
Additions 750,000
Valuation changes 16,238
At 30 June 2025 766,238
Carrying amount
At 30 June 2025 766,238
At 30 June 2024 -
17 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 251,451 146,605
Prepayments and accrued income 237,147 376,877
488,598 523,482

-23-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

18 Creditors: amounts falling due within one year

18 Creditors: amounts falling due within one year
2025 2024
Notes £ £
Other taxation and social security 43,840 33,458
Deferred income 19 419,360 464 354
Trade creditors 14,045 4,957
Other creditors 37,782 218,519
Accruals 217,451 229,016
732,478 950,304
19 Deferred income
2025 2024
£ £
Other deferred income 419,360 464 354
Deferred income is included in the financial statements as follows:
2025 2024
£ £
Deferred income is included within:
Current liabilities 419,360 464,354
Movements in the year:
Deferred income at 1 July 2024 464,354 360,679
Released from previous periods (464,354) (360,679)
Resources deferred in the year 419,360 464,354
Deferredincomeat30June2025 419,360 464,354

The deferred income relates to project funding, courses and events due to take place in future periods.

20 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Chargetoprofitorlossinrespectofdefinedcontributionschemes 64,012 69,258

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Outstanding pension contributions at the year end were £10,733 (2024: £8,947)

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SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2024 Incoming Resources Transfers Gains and At 30 June
resources expended losses 2025
£ £ £ £ £ £
General funds 959,646 1,775,960 (1,644,236) (13,861) 15,415 1,092,924
Previous year: At 1 July 2023 Incoming Resources Transfers Gains and At 30 June
resources expended losses 2024
£ £ £ £ £ £
General funds 1,091,126 1,681,228 (1,719,383) (93,325) - 959,646
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 30 June 2025:
Tangible assets 16,917 - 16,917
Investments 766,238 - 766,238
Current assets/(liabilities) 309,769 60,857 370,626
1,092,924 60,857 1,153,781
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 30 June 2024:
Tangible assets 9,471 - 9,471
Current assets/(liabilities) 950,175 77,120 1,027,295
959,646 77,120 1,036,766

23 Analysis of net assets between funds

«97-

SAINTS FOUNDATION (SFC)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

24 Related party transactions

Southampton Football Club is considered to be a related party due to its influence over the charity.

During the financial year, Southampton Football Club Limited committed donations of £206,428 (2024: £218,529). Included in this amount is a total of £nil (2024: £27,573) donated by the Club in respect of time costs provided by the Foundation. A total of £142,935 (2024: £178,662) is included in prepayments & accrued income at the year end.

A payable balance of £26,585 (2024: £209,543) has arisen from purchases from Southampton Football Club Limited and is included within creditors falling due within one year at the year end.

Southampton Football Club Limited has provided administrative and other support with an estimated value of £110,000 (2024: £125,000), this has been recognized as donations and equivalent support cost. At the year end £nil (2024: £nil) was outstanding on the balance sheet.

During the year United Group Bulgaria EOOD, an entity under common control of the ultimate controlling party of Southampton Football Club Limited, donated £120,000 (2024: £40,000) to the Foundation.

==> picture [469 x 226] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |25|Cash|absorbed|by|operations|2025|2024| |£|£| |Surplus/(deficit)|for|the|year|117,015|(128,158)| |Adjustments|for:| |Investment|income|recognised|in|statement|offinancial|activities|(27,104)|(43,561)| |Fair value|gains|and|losses|on|investments|(15,415)|-| |Depreciation|and|impairment|of tangible|fixed|assets|5,154|3,669| |Movements|in|working|capital:| |Decrease/(increase)|in|debtors|34,061|(292,298)| |(Decrease)/increase|in|creditors|(172,832)|305,618| |(Decrease)/increase|in|deferred|income|(44,994)|103,675| |Cash|absorbed|by|operations|(104,115)|(51,055)| |26|~=Analysis|of changes|in|net|funds|

----- End of picture text -----

The charity had no material debt during the year.

2B