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← The Essex And Southend Sports Trust

2025-06-30-accounts

Charity Registration No. 1092238

THE ESSEX & SOUTHEND SPORTS TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

‘RickardLuckin

THE ESSEX & SOUTHEND SPORTS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L Butler
J Sims
RL Pearse
S Butler
Charity registration England and Wales 1092238
Principal address The Red House
Larks Lane
Great Waltham
Chelmsford
Essex
CM3 1AD
Auditor Rickard Luckin Limited
1st Floor
County House
100 New London Road
Chelmsford
Essex
CM2ORG

THE ESSEX & SOUTHEND SPORTS TRUST

CONTENTS

Page
Trustees' report 1-5
Independent auditor's report 6-8
Statement offinancial activities 9
Balance sheet 10
Notestothefinancialstatements 11-18

THE ESSEX & SOUTHEND SPORTS TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The trustees have pleasure in presenting their report and the accounts of the charity for the year ended 30 June 2025.

The trust is a registered charity and bound by the Trust Deed dated 13 March 2002, the requirements of the Charities Act 2011 and the “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 the Republic of Ireland (FRS 102)” (effective 1 January 2019). Deeds of Appointment supplemental to the Trust Deed were executed on 21 December 2017 and 31 January 2018.

Objectives and activities

The Trustees shall hold the capital and the income of the Trust Fund upon trust for such purpose or purposes within the county of Essex, the London boroughs of Havering, Redbridge and Dagenham, Newham and Waltham Forest (including but limited to the unitary authorities of Southend-on-Sea and Thurrock) as shall be exclusively charitable according to the law of England and Wales and in such shares and proportions as they shall in their absolute discretion think fit.

The Trust Fund and the income thereof is applied in or towards the following purposes subject always to compliance with the objects set out in the Trust Deed as varied:

(a) Provision or assistance in the organisation and provision of facilities for the playing of sports in particular but not limited to the playing of football, cricket and tennis.

(b) Provision of suitably qualified coaches or the provision of grants to charitable organisation so that they may provide coaches to coach sport, in particular football and cricket.

(c) Provision of sporting equipment and clothing or provision of grants to individuals, community amateur sports clubs and registered charities to purchase sporting equipment and clothing.

(d) Making grants to individuals, community amateur sports clubs and registered charities in connection with the provision of sport.

The charity has been funded largely by endowment funds on terms that the Trustees preserve the value of such funds at all times and only distribute the income from it in furtherance of the Trust’s objectives. The Trustees have considered the Charity Commission guidance on public benefit and are satisfied that the Trust's activities meet the principles laid out in that guidance. A more detailed guide to the Trust’s activities can be found on the website www.easst.org.uk.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

-1-

THE ESSEX & SOUTHEND SPORTS TRUST

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

Achievements and performance

The Trustees approved 14 grants in the year totalling £240,225 compared with 12 grants totalling £241,000 in 2024. From inception in 2002 to June 2025 the Trust has made 282 grants with a total value of £2.99 million.

The Essex and Southend Sports Charitable Fund (ESSCF)

EASST Trustees approved two grants totalling £35,000 made to the Essex and Southend Sports Charitable Fund (ESSCF) which is our joint venture with Essex Community Foundation (ECF). The objectives of this fund, which has just completed its twelfth year of operation, are to inspire people across Essex to take part in every kind of sport and to grow the amount of money that is available to make sporting grants in Essex. Grant applications for this fund, which is aimed mainly at individuals, should be made to ECF who carry out due diligence. For suitable applications, ECF will seek to find matching finance from other funds that it manages.

In the year to 30 June 2025, the Trustees and ECF jointly agreed to make 28 grants from the ESSCF with a total value of £52,450 of which £34,590 was taken from EASST’s contribution and £17,860 was raised by ECF from other Essex based charitable funds. This compares with 27 grants with a total value of £75,018 of which £36,504 was taken from EASST’s contribution and £38,514 was raised by ECF as matching funding in the period to 30 June 2024. After deducting ECF’s administration fees the balance of EASST contribution available in the ESSCF at 30 June 2025 was £68 (2024 - £2,535). The Trustees hope to make further contributions to the ESSCF over time. For further information go _ to:http://www.essexcommunityfoundation.org.uk/grants/our-grantmaking/funding-forindividuals/

EASST trustees will continue to consider direct applications for grants particularly from sports clubs and other organisations involved with sport but may refer applications to ECF for consideration by the ESSCF, where appropriate.

From inception EASST has approved with the ECF 236 grants from the ESSCF with a total value of £429,561.

Essex Cricket in the Community (ECIC)

In January 2018 the Trustees established a new joint venture fund with Essex Cricket (now renamed Essex Cricket in the Community) to provide small charitable grants of up to £2,000 to cricket organisations in Essex. Essex Cricket in the Community invites, receives and assesses funding applications that meet the criteria of the Fund and make recommendations on each application before they are presented to the EASST Trustees for approval. Applications must be for no more than half of the project or purchase cost. EASST Trustees approved a further £25,000 to this venture. In the year to 30 June 2025, the Small Grants for Cricket fund made grants totalling £21,800 to 14 cricket clubs and organisations in Essex and East London.

Since January 2018 grants have been approved to a total value of £179,030 to local clubs and other cricket organisations in Essex and East London.

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THE ESSEX & SOUTHEND SPORTS TRUST TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Southend United Community Foundation (SUCF) (formally Southend United Community and Educational Trust “SUCET”)

The Trust made two further grants totalling £75,000 to SUCF in the year and has now contributed £633,000 since 2002. The EASST grant was matched by an additional £25,000 of funding from raised funds by SUCF.

A large proportion of the grant supports the PL Kicks program which delivers weekly football sessions across 10 venues in Essex, providing over 600 young people with a safe and enjoyable environment to play. The sessions support social development, practical skills, and both physical and mental wellbeing, encouraging greater engagement and inspiration. The program has had an incredible impact on the participants, communities, staff and partners. Its reach and influence have gone far beyond football, maintaining growth, community connections, and positive outcomes for all involved. The program has significantly improved the physical and mental wellbeing of the young people attending. Regular sessions have helped participants stay active, develop healthier habits, and build their confidence on and off the pitch.

A portion of the grant also supports the United Southend program which is partly funded by the National League Trust and is an early intervention and education initiative designed to address growing concerns regarding knife crime, gang involvement, and drug abuse among young people. Initially targeted at children in Years 5 and 6 at primary schools in Southend, the program has been successful in raising awareness and providing young people with the tools to make informed decisions regarding their personal safety. With the contribution from EASST SUCF were also able to expand the programme to younger children (Year 4) in additional schools in Southend and Rochford.

Centre of Cricket Excellence at Garon Park, Southend

The Trust approved a grant of £25,000 towards ongoing maintenance of the cricket facilities at Garon Park which are part of the Garon Park Community Interest Company (Garon Park CIC). The Trust has partnered with Garon Park CIC since EASSTs inception establishing Garon Park as a Centre of Cricketing Excellence ensuring 30 days of performance cricket is played there each season.

Further Projects with Essex Cricket in The Community

Trustees once again approved a grant of £31,000. This grant included: £7,000 to the development of women’s cricket in Essex; £11,000 to support a programme of 30 days of performance cricket at Garon Park and continued support of the groundsman; £5,000 towards the junior pathway programme to engage around 200 9-13 year olds in regional cricket festivals and training; £2,000 towards the development of Ability Cricket around IV and Deaf Cricket; £5,000 towards the delivery of girls secondary school programme to engage more girls in the state sector and help with the transition from School to Pathway and to enable the players to access the same offer of support and coaching as perceived to be provided within the private sector; and £1,000 used on cricket sets for schools in targeted areas of Essex with low cricket coverage and areas of deprivation.

Other grants to clubs and sports related institutions included:

Donations to EASST

The trustees welcome approaches from sports-loving individuals who share the trust's objectives and wish to make a donation to the Trust. Generous tax benefits are available under the Gift Aid scheme. Tax free gifts may also be made in a will.

-3-

THE ESSEX & SOUTHEND SPORTS TRUST

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

Reserves Policy

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. At the end of the year the charity held free reserves of £1,005,115 (2024: £982,432) of which £662,580 is held within investments and £342,535 within net current assets. The trustees appreciate that this is in excess of the policy and our plans are detailed in the subsequent paragraph.

_ The trustees are adopting a total return approach to investment of the endowment fund, and consent to the duty of even-handedness, are allocating income from these investments to be available for making grants in accordance with the Trust’s objectives. Any surplus of income over grants and expenses will be carried forward as unrestricted reserves available for grants in the short to medium term. The Trustees have identified three major projects that they are considering supporting. In addition to helping with the development of the Garon Park Community Interest Company, discussions have taken place with both Essex CCC and Southend United FC about grants so that ‘best in class’ disabled facilities are included in their respective ground development projects. For this reason the Trustees are making annual retentions with unrestricted income funds to build finances to enable significant grants to be made towards these projects over the next few years.

The total Net Assets of the charity at the year end were £7,328,537 (2024: £7,018,353) which is represented by capital endowment fund reserves of £6,323,422 (2024: £6,035,921) and unrestricted reserves of £1,005,115 (2024: £982,432).

Investment Policy

The Trustees are adopting a long term approach with, at the year end, almost all the endowment funds are - committed to UK Index Tracking Equities, other equity products, property and bond funds.

_ Major Risks

The major risk to which the charity is exposed is investment performance to endowment funds. The Trustees investment and grant-making policies are designed to preserve the capita; value of the endowment funds over the long-term.

_The Trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The trustees who served during the year and who were appointed in accordance with the Trust Deed were as follows:

L Butler J Sims RL Pearse S Butler

None of the trustees has any beneficial interest in the trust. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The board of trustees, which can have up to seven members, administers the charity. The board normally meets trimonthly and between them, manage the day to day operations of the charity.

aA

THE ESSEX & SOUTHEND SPORTS TRUST

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

Statement of trustees’ responsibilities

The trustees 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).

The law applicable to charities in England and Wales 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 trust and of the incoming resources and application of resources of the trust for that year.

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

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

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Trustee
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-5-

THE ESSEX & SOUTHEND SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE ESSEX & SOUTHEND SPORTS TRUST

Opinion

We have audited the financial statements of The Essex & Southend Sports Trust (the ‘trust’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of 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).

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 trust 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 concem 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 trust's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the 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 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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THE ESSEX & SOUTHEND SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ESSEX & SOUTHEND SPORTS TRUST

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees 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 trust'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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Capability of the audit in detecting irregularity, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are: capable of detecting irregularities, including fraud, is detailed below.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our: general commercial and sector experience; through verbal and written communications with those charged with governance and other management; and via inspection of the company’s regulatory and legal correspondence.

We discussed with those charged with governance and other management the policies and procedures regarding compliance with laws and regulations.

We communicated identified laws and regulations to our team and remained alert to any indicators of noncompliance throughout the audit, we also specifically considered where and how fraud may occur within the group.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the company is subject to laws and regulations that directly affect the financial statements, including: the company’s constitution; relevant financial reporting standards; company law; tax legislation and distributable profits legislation and we assess the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

;

Secondly the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the amounts or disclosures in the financial statements, for instance through the imposition of fines and penalties, or through losses arising from litigations. We identified the following areas as those most likely to have such an affect: health and safety legislation; Data Protection; anti-bribery and anticorruption legislation.

ISAs (UK) limit the required procedures to identify non-compliance with these laws and regulations to the procedures, and no procedures over and above those already noted are required. These limited procedures did not identify any actual or suspected non-compliance which laws and regulations that could have a material impact on the financial statements.

a a

THE ESSEX & SOUTHEND SPORTS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ESSEX & SOUTHEND SPORTS TRUST

In relation to fraud, we performed the following specific procedures in addition to those already noted:

e Discussions with management.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with ISAs (UK). For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the procedures that we are required to undertake would identify it. In addition, as with any audit, there remains a high risk of non-detection of irregularities, as these might involve collusion, forgery, intentional omissions, misrepresentation, or the override of internal controls. We are not responsible for preventing non-compliance with laws and regulations or fraud, and cannot be expected to detect non-compliance with all laws and regulations or every incidence of fraud.

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts. and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

| en Cockin Cnn, eee Janine Mansfield (Senior Statutory Auditor) For and on behalf of Rickard Luckin Limited, Statutory Auditor Chartered Accountants

1st Floor County House 100 New London Road Chelmsford Essex

CM2 ORG , Date: 1G... MATH QOQSE

Rickard Luckin Limited is eligible for appointment as auditor of the trust by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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THE ESSEX & SOUTHEND SPORTS TRUST

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Investments 11 6,986,002 6,662,620
Current assets
Cash at bank and in hand : 351,397 372,473
Creditors: amounts falling duewithin 12
oneyear (8,862) (16,740)
Netcurrent assets 342,535 355,733
Total assets less current llabilltles 7,328,537 7,018,353
Capital funds
Endowmentfunds - general 13 6,323,422 6,035,921
Income funds
Unrestricted funds 1,005,115 982,432
7,328,537 7,018,353

= (4 The accounts were approved by the Trustees on (3/26

RLPearse 7 Trustee ;

-10-

THE ESSEX & SOUTHEND SPORTS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

The Essex & Southend Sports Trust is a registered charity.

The financial statements have been prepared in accordance with the trust's deed dated 13 March 2002, the Charities Act 2011, 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 trust is a Public Benefit Entity as defined by FRS 102. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following ‘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) (Second Edition)’rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdraw.

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

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

« [4F-

THE ESSEX & SOUTHEND SPORTS TRUST

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

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Governance Costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance, investments or constitutional matters

Support Costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Fixed asset investments are initially measured at transaction price, and are subsequently measured at fair value at each reporting date for publicly traded investments and at cost less impairment for non-publicly traded investments. Changes in fair value are recognised in net income/(expenditure) for the year.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments The trust 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 trust's balance sheet when the trust 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.

a4? «

THE ESSEX & SOUTHEND SPORTS TRUST

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

1 Accounting policies

(Continued)

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 expected cash amount or consideration to be paid.

Derecognition of financial liabilities

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

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £: £ £ £
Donations and gifts ; - 2,400 2,400 2,000 2,400 4,400
Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income from listed investments 267 ,404 289,217
Interest receivable 2,594 2,201
269,998 291,418

3 Income from investments

| Box

THE ESSEX & SOUTHEND SPORTS TRUST

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

4 Expenditure on charitable activities

==> picture [485 x 436] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Sports|Sports| |grants|grants| |2025|2024| |£|£| |Direct|costs| |Grant|funding|of activities|(see|note|8)|240,225|241,000| |Share|of support|and|governance|costs|(see|note|5)| |Governance|9,490|8,963| |249,715|249,963| |Analysis|by|fund| |Unrestricted|funds|247,315|247,563| |Restricted|funds|2,400|2,400| |249,715|249,963| |5|Support|costs|allocated|to|activities| |2025|2024| |£|£| |Governance|costs|9,490|8,963| |Analysed|between:||| |Sports|grants|9,490|8,963| |6|Auditor's|remuneration| |Fees|payable|to the|charity's|auditor and|associates:|2025|2024| |£|£| |For|audit|services| |Audit|of the|financial|statements|of|the|charity|8,862|8,640|

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

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year (2024:Nil). Trustees were reimbursed expenses in the year of £Nil. (2024- ENil).

afaic

THE ESSEX & SOUTHEND SPORTS TRUST

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

8 Grants payable

2025 2024
£ £
Grants to institutions:
Essex Cricket in the Community 56,000 56,000
Essex Community Foundation 35,000 25,000
Garon Park CIC 25,000 50,000
South East Essex Cricket Participation Group 725 -
Southend United Community Education Foundation 75,000 65,000
Colchester & East Essex Cricket Club 8,000 -
Dagenham and Redbridge Football Community Trust 17,500 -
Leyton Orient Trust 12,500 17,500
Hadleigh &Thundersley Cricket Club - 15,000
Southend Rugby Football Club 7,000 7,000
Primo Race Team
-		 - 2,000
Eastern Elite Racing 3,500 3,500
.
240,225 241,000

Grants to institutions includes £35,000 to ECF (2024- £25,000) for the Small Grants for Cricket Scheme which is managed by Essex Cricket in the Community Foundation (ECIC). Grant application for this scheme are approved by the Trustees of The Essex & Southend Sports Trust. Due diligence on applications and administration of the scheme is the responsibility of ECIC.

9 Taxation

2

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

10 Employees

.

There were no employees during the year.

= 46 =

THE ESSEX & SOUTHEND SPORTS TRUST

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

11. Fixed asset investments

. Listed UnlistedCash deposits Total
investments investments
£ £ £ £
Cost or valuation
At 1 July 2024 6,599,620 13,000 50,000 6,662,620
Additions 35,881 - - 35,881
Valuation changes 289,839 - - 289,839
Repayments (2,338) - - (2,338)
At 30 June 2025 6,923,002 13,000 50,000 6,986,002
Carrying amount
At 30 June 2025 6,923,002 13,000 50,000 6,986,002
—
At 30 June 2024 6,599,620 13,000 50,000 6,662,620
Creditors: amounts falling due within one year
2025 2024
£ £
Accrualsanddeferredincome 8,862 16,740

12 Creditors: amounts falling due within one year

13. Endowment funds

;

Endowment funds represent assets which must be held permanently by the trust. Income arising on the endowment funds can be used in accordance with the objects of the trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

Since inception the Charity has received in total donations of £4,516,410, which have been recorded as permanent endowments as the donations are on the terms that the Trustees preserve the capital sum at all times and only distribute the income derived from it in furtherance of the Trust's objectives.

Ati July 2024 Gainsand At30 June
losses 2025
£ £ £
Permanent endowments
Permanent Endowment 6,035,921 287,501 6,323,422
Previous year: At 1 July 2023 Gains and At30 June
losses 2024
£ £ £
Permanent endowments
PermanentEndowment 5,869,897 166,024 6,035,921

-16-

:

THE ESSEX & SOUTHEND SPORTS TRUST

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

14 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 At30June
resources expended 2025
£ £ £ £
General funds 982,432 269,998 (247,315) 4,005,115
Previous year: At 1 July 2023 Incoming Resources At30 June
resources expended 2024
£ £ £ £
General funds 936,577 293,418 (247,563) 982,432
15 Analysis of netassets between funds :
Unrestricted Endowment Total
- funds funds
2025 2025 2025
£ £ £
At 30 June 2025:
Investments 662,580 6,323,422 6,986,002
Current assets/(liabilities) 342,535 - 342,535
1,005,115 6,323,422 7,328,537
Unrestricted Endowment Total
funds funds
2024 2024 2024
£ £ £
At 30 June 2024:
Investments 626,699 6,035,921 6,662,620
Current assets/(liabilities) _ 355,733 - 355,733
982,432 6,035,921 7,018,353

wif 7»

.

THE ESSEX & SOUTHEND SPORTS TRUST

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

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

==> picture [460 x 146] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |At|1|July|2024|Incoming|Resources|At30|June| |resources|expended|2025| |£|£|£.|£| |Centre|of|Cricketing|Excellence|at|Garon|Park|-|2,400|(2,400)|-| |Previous|year:|At1|July|2023|Incoming|Resources|At30|June| |resources|expended|2024| |£|£|£|E:| |Centre|of Cricketing|Excellence|at|Garon|Park|-|2,400|(2,400)|-|

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

All donations received in the year in relation to the 'Public Appeal for the Garon Park Centre of Cricketing Excellence’ are included as restricted funds as the donors have agreed that these funds may only be used in relation to the grants for the Garon Park Project.

17 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

s48<