LIVERPOOL FC FOUNDATION ANNUAL REPORT ANO FINANCIAL STATEMENTS For the year ended 31st May 2024 Charlty No: 1096572 Company hlo: 04587220 •ACI4XDN3M* 2210212025 COMPANIES HOUSE A17 #19 LIVERPOOL FC FOUNDATION Annual Report and Financlal Statements Contents Page Company Ir+lormaeion Trustees, Annual Report 2-13 Independent Auditors. Report 14.19 Statement of Flrtancial A¢tlvities 20 Comparative Statement of Financlal Actlvliies 21 Balance Sheet 22 Statement of Cash Flows 23 Noies lo ¢he Financial Statement5 24-39 LIVERPOOL FC FOUNDATION Charlty Reference and Admlnlstratlve Detalls 31st May 2024 Charity number: 1096572 Company number: 04587220 Trustees: Susan Black Simon Bowers Billy Hogan Davinderjhamai Gavin Laws (Resigned 26.09.241 Matthew Parish Linda Piziuti Tom Werner Laufa Weston Victofia Gowan {Appolnted 07.06,23 siephen Varlev IAppointed 02.03.24} Secretary: Lynn Taylor Reilstered offlce.. Anlleld Road Liverpool L4 OTH Bankers: The Royal Bank of Scotland PIC l Dale Street Liverpool L2 2PP Statutory Audltors". Mitchell Charlesworth (Auditl Llmited Accountanis 14th Floor, The Plaza 100 Old Hall Street Llverpool L3 9QJ LIVERPOOL FC FOUNDATION Trustees. Annual Report For the year ended 31st May 2024 The trustees present their report together with the audited financial statements of the charity for the yeaf ended 31st May 2024. The tfustees have adopted the provisions of the Statement of Recommended Practlce ISORP) "Accounting and Reporting by Charities" IFR5102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in occordance with the accounting policies set out in note I to the financial statements and comply with the charity's govecning document, the Charities Act 2011 and Accountin8 and Reportin8 by Charities.. Statement of Recommended Pfactice applicable to charlties preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Trustees of the charlty The dlrectors of the charltable company are the trustees for the purposes of chaiity law. The trustees who have served during the year and since the year end were as follows: Susan Black Slmon Bowers Billy Ho8an Davinder Jhamat Gavin Laws (Resigned 26.09.24) Matthew Parish Llnda Pizzutl Tom Werrtef Laura Weston Victoria Gowan (Appointed 07.06.23} Stephen Varley (Appointed 02.03.24 structure. Governance and Management Governln8 document The Charity is a company limited by guarantee, incorporated on Ilth November 2002, and 15 therefore 8Overned by a Memorandum and Articles of Association, which are subject to re8ular review. The Articles of A5s0ciatDon were formally reviewed, updated, and adopted on 12th May 2021. Trustee appolntment. Induction, and tralnlng In accordance with the Articles of Association and the Trustee Recruitment Policy, all trustees are appointed followlng a formal process and with regard to a board skills analysis, The 12th May 2021 revision to the Articles of Association included provision to increase the size of the board from 10 to 12, with up to Six trustees nominated by Liverpool FC, and up to six independent trustees appointed by the board. Each trustee automatically becomes a membef on their appointment to rhe Charitv. On appointment, trustees complete a registerof interests. The Foundation is committed to providing trustees with a thorough induction, and access to trainin& which Includes safeguarding. Trustees are invited to key fundfaising events. and to obSe￿e progfamme delivery in action. The chair of trustees is appointed by the board. LIVERPOOL FC FOUNDATION Trustees, Annual Report {continued) For the year ended 31st May 2024 Organisation The board of truszees, which, in accordan¢e with ihe Articles of Association, shall be no less than three member5, and a maximum of twelve, is responsible for the overall governance and strategic directlon in accordance with le8al and statutory re8ulations. Trustees meet a minimum of three times a year and provide strategic advice to the Charity's Senior leadership team. The Finance Sub.committee, chaired by the chair of trustees, reports back to the board of trustees. A CEO is appointed by the boacd to manage the day-to-day operatlon. To facilitate effertbve operations, the CEO, Matthew Parish, has delegated authori¢V, Wlthin the Charity's Governance Ffamework and Scheme of Delegation approved by the boafd of trustees annually. The CEO is appointed as a trustee bv the Chafity which is allowed undef the Articles of Association. The CEO leads a senior leadership team responsible for the day-to-day operation of the charity, The senior leadershlp team comprlses: CEO Head of Finance Head of Governance and Compliance Head of Pro8rammes Head of Partnerships Head of Community Engègement Pollcy on settlng the remuneratlon of the Senior Mana8ement Team The Charity facilitates a performance management framework for all staff, Remuneratlon of the Charivs staff is ovefseen by the LFC Foundation board of trustees, receivin8 advice from Liverpool FC HR benchmarking (referring to equivalent role5 across the charity sectorl, Rlsk Mana8ement The trustees are aware of their responsibility to identify, assess and manage the risks to which the Chafity is exposed and to ensure appropriate controls are in place. The Risk Manaeement Procedures is feviewed by the board annually, the Risk Register is fegularly reviewed at trustee boaril meeting5. Safe8uardin8 polio/ and procedures are in place and reviewed annually by the board of trustees. Safeguarding is reported at each trustee board meeting. The nominated safeguarding trustee sits On the Liverpool FC Safeguarding Mana8ernent Group. Trustees receive an annual safeguarding policy briefing from the LFC Director of Safeguardin8. All staff and trustees are recruited in accordance with the Charity's Safer Recruitment Policy, includin8 D8S checks and undergo mandatory safeguarding training. Financial risks are mitigated. The Resenies and Investments policies are subject to annual review. Internal and external investment is monltored, evaluated, and reported to trustees. 31Page LIVERPOOL FC FOUNDATION Trustees. Annual Report (continued) For the year ended 31st May 2024 Objectives and artivitles The Chafity provides community football and sports related physical activity, education, health, Social inclusion, and other charitable activlties on behalf of The Liverpool Football Club and Athletic Grounds Limited (Liverpool Football Club). The Charity's objects are for Ihe benefit of the public generally, both in the United Kirtgdom and overseas and. in particular, the inhabitants of Liverpool, Merseyside and their surrounding areas: to promote community participation In healthy recreation by providing facilities for the playlng of assoclation football and other sports capable of improvlng health., to provlde and assist In provlding faci Ilties for sport, recfeatlon or other leisure tlme occuparion of such people who have the need fof such facilities by reason of their youth, age, infirmity Of disablement, poverty or social and economic circumstances or for the public at large in the Interests of social welfare and with the object of improving their conditions of life: to advance the education of children and other people throu8h such means as the tfustees think fit in accordance wlth the law of the Charity,. and for the 8eneral purposes of such charitable bodies or for such Oiher excluslvely charitable purposes as the trustees may from time to time decide. Pub15c Benefit The trustees have had due regard to the guidance published by the Charity Commission on public benefit. Review of activltles The LFC Foundation is the official charity of Liverpool Football Club. Our vision is to become the world'5 leading football club foundation that changes the lives of young people and families. We Share the values of Liverpool Football Club - ambition, commitment, unity, and di8riitv. Our mission is to brin8 together the LFC family to create life-changlng opportunities for young people and families in the most underserved communities withirt the Liverpool City Region and beyond. The prlmary function of the Charity IS to deliver impactfvl activitie5 and services that improve the life and health opportunities of children and youn8 people, and to generate income for sustainability through restricted (grant funding) and unrestricted income Ifundraisingl. The Foundatiorb mainly operates in areas of high deprivation across Liverpool City Region, which is the most depflved clty reglon in England. We strateglcally target our work in the most deprived areas by operating in schools. community facilities, parks and open spaces to ensure we are able to engage directly with these hard-to-reach communities. LIVERPOOL FC FOUNDATION Trustees. Annual Report (contlnued) For the year ended 31st May 2024 Review of activities Icontinuedl We deliver our programmes across six key afeas:. Sports and Physical Activity Health and Wellbein8 Education and Life Skills Employment and Training Community Engagement Youth Interventions t4Y FDurwJotion LFC Foundation: This is The Liverpool Way Strategyoverview 2021- 2025 UnlLy, DlgfiMy.AmblLion•ndC•rnMlun• Th'515Thv oulorn61￿h To lje 4hv ￿￿r￿$.￿l￿.￿dIr￿) fpundaiion thfrt vons10￿7 0(wr.9P￿pI￿ OPAI Ithli Ouvfftl>Jlon To honws rhe f*Th"tyrn (￿rte lJe tr￿n9￿r￿ eJPF¥irtunlUe5. tr*mosi ¢omrnunlU•s homq on(fovwi. nt Driving Sustainable Sociol Impact +LtAITh UCAiiIIN By 2025 we wlll: 80 t￿.000* thefKILU4espvr 5EQYryI andhov• doubl•dfun¢*ry genwoted to dp %0 AA Infi￿ h*Jh.fip•dmrrvTrinllJvs •Q￿Su￿p0clIQty￿￿9knTh ctMI IllJRKAYO IhWU4UlItS ond meosuiemeni 16 PEICLllmtE FIIThYBSHIP¥ TOIThE￿ls 880 rAKy Incluth'e cth cr￿3￿1￿*50￿0I Uii*Lres*#athiLS CA)I¥HllllI'ISUes 17 susrAINABLE OEVELOPMENT For more information Fo￿n¢￿1￿ IM￿¢t (knF¢rt ￿21 r4utsYot1rffiJ￿rPQ01¢(x•ThIUboU$•￿IIltths￿lrfe¥1￿I LIVERPOOL FC FOUNDATION Trustees, Annual Report (contlnued) For the year ended 31st May 2024 Our key partrther organisations who 5UPPOrt our programmes financlally include.. _ Premier League Charitable Fund (PLCF) Professional Players Association {PLPFA The Football Association Limited The Veterans Foundation NHS Cheshire and Merseyside Steve Mor8an Foundatlon Liverpool Football Club Liverpool Fooiball Club Women Merseyside Police Merseyside Fire and Rescue 5en4ice North Wales Police North Wales Fire Se￿ice Home Office Department for Education Liverpool City Council Livefpool Education Grant Community Trust Knowsley Council Sefton Council Standard Chartered Fourldation Kodansha SC Johnson Nike Wasabi Islamic Relief The National Lottery Communlty Fund Alder Hey Children's Hospital Merseyside Violence Reduction Partnershlp Karlsson Jativa Charitable Foundation James Milner Foundation Street Soccer Community Foundation for Merseyside (Football for Changel iwill Advantage Mentoring CIC LIVERPOOL FC FOUNDATION Trustees. Annual Report (contlnued) For the year ended 31st May 2024 Revlew of activities The location of our programme delivery coniinues to expand. Anfield Spon and Community Centre remains our home, but we de16ver across schoo15, parks. pitche5, leisure centers and community settings across the Livefpool City Re8lon, this includes a 'Community Hub's rtetwork of six centers across the region delivefed in partnership with the Steve Morgan Foundation. We also run programme5 Wlth our international charity partner Rlght To Play in Senegal, Tanzania and Thailand. We also have our Creative Works programme in New Yofk and New Jersey In partnership with Kodansha, havin8 previously dellvered Global Works between February 2022 to January 2024 in partnership with the Standard Chartered Bank Foundation. A breakdown of our pro8rammes is shown below: Premier League Primary Stars - work with local schools to develop skills and ambition of young people aged 5 to 11 yeafs, in both a sports and classroom environment. The pro8ramme Is offered free to all Primary Schools in the L4,5 & 6 p05tcode5 and Kirkby. Premier League Insplres uses the power of footba51 clubs and the Premier League to engage youn8 people who are not involved in education, training or employment and raise aspirations. It is delivered to Nigh Schools in Liverpool. Into Universlty North Liverpool ~ an education project run by national education charity Into University in partnership with the Universily of Liverpool and LFC Foundation, which aims to engage children and youn8 people In afeas of high deprlvation, raise their aspirations and support them in theif academic studies. County Lines (Home Office} - LFC Foundation and Merseyside Police have joined forces to help address the issues around youth and gang crime In conjunctlon with schools In Merseyside. This highly targeted programme provides students with key skills, confidence and the resilience needed to overcome obstacles and choose the ri8ht pathways in life. #iwlll - £1,23m match funded project which seeks to Increase participation in social action by young people a8ed 8 to 14 years old, The aim is to embed social action in younB people's life choices, so it becomes a lifelong behaviour. We also have an extension project that sits under the #l Will umbrella and focuses on engaging with young people from SEND and Alternatlve Educatlon settlngs. Global Works - Targeted employabillty intervention working with young people aged 16-25 who have pa55ion for sport. The programme aims to upskill youn8 people with the right qualification5 to pursue a career in sport whilst supporting them with employability skills along the way. Funded by the PLPFA in Liverpool and up to January 2024 it was funded by the Standard Chartered Foundation to deliver in New York and New Jersey. Creative Works - funded by Kodansha, this is a school and communit¥-based pro8ramme working with 14- 25 year olds that builds the skills and aspiration to those that are unemployed or at risk of unemployment to find meaningful careers in creative industries orjobs. Delivered across Liverpool and New York. Youth Works - worklng alongside Liverpool City Councll to recruit young people with a passion for youth work into the sector. The prograrnme works with ten young people to train ihem up as fully qualified youth workers through a two-year apprenticeship overall supporting the city's youth provision. This is funded through monies from Liverpool City Council, Merseyside Violence Reduction Partnership and Liverpool Education Grant Community Trust. LIVERPOOL FC FOUNDATION Trustees, Annual Report (contlnued) For the year ended 31st May 2024 Revlew of activities Icontlnued) Kicks TarEeted- ta(geted 1.2-1 youth programme to support those identified by the local police into positive pathways. Volunteering- Our volunteering progfamme 15 delivered acfQS5 community hubs and with our university partners, Go Play- our family multi-sports and physical aciivliy project designed to support families to be more artive together- utilising parks, community venues and open spaces acfoss the Liverpool City Region. The PL Kicks programme continues to support and engage teenagers at risk of crime. The programme now also incorporates our dlsabillty and glrls football provislon. We have expanded our Kicks dellvery and Set up SMF Kicks, which are new sessions funded throu8h the Steve Mor8an Foundation. Premier League Kicks Football+ - a joint initiative with Merseyside Fire and Rescue Service helpin8 to reduce anri-social behavior and crimlnal activity and encoufagln8 lon8-term personal growth and development. We have expanded our offer to include an Inclusive programme and gir15 only provision. Holiday Football Camps- We provide a low-cost football camp offer alongside free campsdelivered In Anfield, Kirkby and Toxteth. Minl Players- paid lor coaching session for young people aged 4-6 years old. Girls School Football- we deliver sessions for girls at lurbchtime or after school across six schools in Liverpool. Military Veterans the programme supports ex-forces personnel to Improve thelr health and wellbeing through football and other physical activity, whilst also supportin8 their mental health throu8h social engagement. Honeysuckle FC- this programme provides a safe environment lor men whe have experienced baby loss, to spend some time enjoylng football and physical activity, whilst allowing them to feel that they have the support of not only clinlcal staff but from their teammates too. MOVE- This pfogramme Is delivered in partnership wlth Alder Hey Chlldren's Hospltal. We support young people livin8 With Cystic Fibrosi5, respiratory conditions as well as endocrine patients, 5UPPOrtin8 them to take part In physical activity In a community settin8. MOVE (schools) Our Move schoo15 pro8ramme aims to tackle and prevent obesity irb Primary school ase children through a 6-week educalional course which focuses on healthy eating and wellbeing. SMF Kicks- The funding from the Steve Morgan Foundation ha5 enabled u5 to grow our Kick5 programme bv expanding our hub sites acfOSS the Merseyside re8ion. SMF Works Employability pro8ramme funded throu8h the Steve Mor8an Foundation, which seeks to support young people preparing for work, education or training. SMF SEN Schools- We deliver PE sessions in 15 SEN schools across Merseyside funded via the Steve Mofean Foundation. LIVERPOOL FC FOUNDATION Trustees, Annual Report (continuedl For the year ended 31st May 2024 Review of activltles (contlnued) SMF Communiry Hubs - We have created a community wellbeing hub model which allows us to support community sites across six areas of Merseyside creating "community hubs" We have supported each hub with facility refurbishrnents and are now running our proÈrammes from ihese hub sites. Game On a multl-5POrt pro8ramme in partnership with the PLPFA and Nlke. This prograrnme encourages voung people to try new sports creatlng a pathway into local sports clubs. We also run a coach ft)entorin8 programme through additional funding from Nike. Player Development Centers- Paid lor grassroots football coachin8 programme. Refugee & Asylum Seekers - funded by Islamic Relief, we use the power of football to engage hollstically includin8 participation, accommodation support and education IESOLI throu8h our weekly sessions and Strategic Refugee & Asylum Seeker Advisory board. She Inspires - Funded through Merseyslde Police we deliver She Insplres curriculum in 40 secondary schools across Merseyside, In partnershlp with Merseyside Pollce, EITC & LCFA. focusing on key themes of self- esteem, leadership, aspirations, and tearnwork through classroom workshops alongside practical football sessions. Pupils are offered accredited ¢oachinE/refereeing courses to aid in further development and we host 5 marquee events each year includin8 Football Festiva15, Stadium visits to Anfield/Goodison and an inlra- School competition structure, Emer8lng Talent Centres - funded by FA as a female pathway for talented female footballers. as a step towards pathway5 into club academies, Player Development Centres & Centre of Excellences. We deliver structured technical syllabus to ages U9. Ull & U12 female players. U14's Girls Academy. funded currently throu8h LFC to provide a ialent pathway into our Pro Game Academv and First Team groups withln LFCW. Robust technical syllabus aligned to LFCW player pathways for selected squad of 20 players with enhanced training offer at LFCAcademy, multi-disciplinary wraparound support and full 8ames pro8ramme in Junior Premier Lea8ue. On TarEet- a secondary school mental health programme funded by the PLPFA which teaches young people 'coping strategies and how to build resilience. Robbie Fowler Education Football Academy (FEFA) - We pactner with FEFA to deliver post 16 educatlon and football. Onside {Altefnative Education)-The Onside, programme funded by the PLFPA aims to support a wide range of young people aged 11-16-year-old in schools across Merseyside. The programme targets those who are at risk of leaving mainstream education and/or on the cusp of criminality and identlfied by Merseyside Police. Sound Minds A music and mental health programme funded by the Kar15sonJativa Charitable Foundation supporting children and young people to manage their mental health and wellbeing through art and mu51C. Red Hot Beats - A series of community-based workshops using music, art. and dance to enhance the mental health ofyoung people and also their knowledge around theirown mental health. The young people are from disadvantaged communities and the programme use5 the hook of music and 5POrts to develop core skills of resilience and coping strategies. LIVERPOOL FC FOUNDATION Trustees, Annual Report {continued} For the year ended 31st May 2024 Revlew of activities Icontlnued) Smile Squad Smile Squad is a dental hyglene programme delivered in partnershlp with Unlversity of Liverpool School of Dentistry and Dan Collins (a Merseyside based dentist). The first element of Smile Squad focuses on visitin8 Primary Schools to perform dental checks and provide educational materials as well as making dental hygiene part of the childien's classroom routine. Referrals are then made to Liverpool University Dental Hospital for free treatment if necessary. Smile Squad occaslonally also takes place in a community setting by performin8 dental checks on Foundation participants at one of our hubs. Advantage - a mentoring programme that works with young people across a six-month period who would oEhenNise be on referral wailin8 Ilsts fo< mental healih and wellbein8 SUPPOrt. We Empower- We Empower Is an allyshlp progranime wlth a focus on female empowerment. Worklng wlth both boys and girls in primary and secondary schools, the pro8ramme aims to empower youn8 people to make positlve changes in all areas of life and champion empowerment and allyshlp wherever possible. Man2Man - a new men's mental health programme in partnershlp wlth Sean's Place a Liverpool based charity supporting men from across the region. Internatlonal Development As the official charity of a truly global football club, the LFC Foundation has alway5 asplfed to develop its International reach and impact. In Octobef 2020 we launched the 'Side by Side, campaign, which is our official charity partnership with Ri8hi To Play an International charity that uses sport & plav to empowef children in some of the most underserved communlties in the world. Inltially delivered in four high need communities in 8angkok, Thailand from 2020 to December 2023, We now partner on a Girls Empowennent pro8ramme in Sene8al and a school engagement piogramme in Tanzania. We have also been en8a8in8 in the 8lobal LFC family throu8h an initiative called the 'This Means More Challenge,, which encourages our Official Liverpool Supporters Clubs IOL5Cs) to do something p05itlve for thelr local community and take part In fun & creative challenges. Orlginally delivered in 2020 and 2021 in 2023 and 2024 it took the form of challenges focused on sustainability alon8side LFC partner SC Johnson as part of 'The Red Way, LFC'S sustainability programme. We plan to relaunch a wider 'This Means More, initiative again in 2025. Since February 2022 we have had two LFC Foundation staff based out of the Liverpool FC Office in New York delivering Ouf 'Global Work.5, PfO8ramme that includes offering mentorin8 and employability sessions to vounE people in New Jersey. The work was run in partnership with the standard Chartered Foundation. In January 2024, we launched Creative Works programme in New York in partnershlp with Kodansha. In November 2022. we partnered with three Dublin pro.clubs-8ohemian FC, Shamrock Rovers FC, and Shelbourne Fc-by part-funding a community manager for each, building capacity within their community departments. Each club has a tar8eted focus.. youth intervention. inclusion initiatives, and school-based progfammes. From 1st. June 2023 to 31st May 2024, this collaboration has enabled the LFC Foundation to make a significant impact across Dublin, supporting communities through sports, education, and personal development. Usin8 local experts in Dublin enables further empowerment of young people and a longer- lasting impact, highlighting the importance of community-driven change. 101 Page LIVERPOOL FC FOUNDATION Trustees, Annual Report (contlnued) For the year ended 31st May 2024 Achievements and Performance The continued growth of the Foundation was demonstrated in 202312024 wlth a turnover of £8.2m. up from a total of £7.Im in the previous season. This was achieved by renewin8 and upliftin8 exlsting restritted income via grants and growing the unrestricted income through Legends fixture5, major gifts, auctions and matchday fundraisin8. A significant proportion of the unrestricted income in 2023/2024 was raised via the home LFC Legends charity game. In March 2024, Anfleld stadlum hosted a match between LFC Legends and Ajax Legends which 8eneraied £1.8m 8ross incoffle wlth a surplus of Elm unrestricted income. The total nei proceeds of the fixture in 2023/2024 of £lm wefe similar to the total surplLbS of £1.2m from the two legends games from the previous season. Originally launched in June 2021, the 'Red Hearts, initlative. a major gifts giving scheme. generated É0.65m in 202312024, up from £0.4m from the previous season. The £0.65m included a significant pledge of £0.2ffl of unrestricted Income which will be cealised, in line with philanthropic donation accounting, over 2 yeafs. Gfowth was also seen in other areas of the fundraising; for example. online donations coinciding Wlth the Legends fixture increased by 900Yo from the previous season, auctions generated net proceeds of £0.28m in 2023124 and the net proceeds from the LFC home game matchday lottery of £0.14m in 202312024. Across all of its activities, the Foundation 5UPPOrted nearly 127,OIXI people in the 202312024 season. A Increase of 3% on last year, Almost half of programme particlpants were from the IO% fflost deprived local authoflty wards in the country. 88% of participants reported an impfovement in their mental health and wellbeing and 90% reported an impfovement in their physical healih. Our social value is now £92 million and for every £1 spent our soclal return on investment is £13.70. Flnancial review Income for the year was £8,161,917. FundinB 15 a mlxture of both restricted and unrestricted wlth anv unspent amounts at the balance sheet date being carried fornvard to be spent in the next financial year. At 31st May 2024 total reserves stood at £4,670,184 of which £4,192,392 were unrestricted including £2SO,000 cash reserve to ensure financial resillence la5 per the reserves policy below). Reserves policy It has been agreed by trustees that it is prudent to have an amount of cash reserve to cover future unknowns In the receipt of unrestricted funds. This amount should be held separately from the CharitV'5 Other cash balances. The Reserves policy is reviewed annually in Ilne with Charity Commission guidance. The re5erve5 policy was reviewed in year, due to the growth of the Foundation and its financial commitments that the cash reserves amount be uplifted from £150,000 to £250,000, This was approved by Trustees in October 2023. IIIPIBe LIVERPOOL FC FOUNDATION Trustees, Annual Report (continued) For the year ended 31st May 2024 Investment pollcv The investment policy of Liverpool FC Foundation aims to minlmise risk and ma5ntain Ilquidity, Funds will be diversified, where appropriate across banking institutions on short to medium term deposits, which can be easlly accessed in line with the Charity's Resènles policy. Interest rates will be reviewed biannually to ensure the most competitive rates are sourced. Trustees will be briefed on the status of investment values and interest rates on a Quarterly basis or more frequently if significant changes arise. The Investment Poltcy Is reviewed annually In line wlth Charity Commission guidance. The investment policy was reviewed post-year end and due to the increase in cash liquidity as a iesult of the net proceeds generated from the recent Ajax legends match. the cash Investment into hlgh-lnterest accounts be uplifted by £l,000.O(X) to maximise interest income. This was approved by Trustees in September 2024 with regular review throughout the year. Plans for the future LookinB longer term, the Charity's new five.year strategy 2025-30 was approved at the Trustee 8oard meeting on 25 September 2024, focusing on growth home and awav, continuing to deliver high quality and impactful pro8rammes across the Liverpool Clty Re8lon and building an international platfoim for programme delivery throu8h our partnership with Right To Play and by seeking to continue to engage LFC supporters around the world. The LFC Foundation has been primarily based èt Arnfield Sports & Communlty Cenlre since 2015 as one of the. centres main tengnts. As ihe Foundation staff ream has increased from circa 30 to 90 during that time the space Is no longer big enough to accommodate the team, even when hot desking. Thls alongside a need for the cenire to be refufbished and updated has led to a dialo8ue with the centre and other stakeholdefs about the potential to work Ir• partnership to develop a firsl.class facility for all users and the local community. Our intention is that these discussions will progress during 202412025. 121Pase LIVERPOOL FC FOUNDATION Trustees, Annual Report (contlnued) For the year ended 31° May 2024 Trustees. responsibilitie5 Statement The trustees (who are also direciors of Liverpool FC Foundaiion for the purposes of company law) are responsible for preparlng the Trustees, Annual Report (including the Strategic Report) and the financial statements in accordance with applicable law and United Kin8dom Accountin8 Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial stalements for each flnancial year, which 8ive a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable comparby for that period. In preparing these flnancial statements, the trustees are requlred to: select suitable accountln8 policies and then apply them consistently. observe the fflethods and principles in the Charities SORP 2019 IFRS 1021. make Judgements and estlmates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statement5. Pfepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will conlinue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accufaoi at any time the financial posltion of the charitable company and enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safeguarding the assets of the charStable company and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularities. Auditor Mitchell Charlesworth (Audil) Limited is willing to continue In office and a resolution for its reappolntrnent was passed at the 2024 Trustees Meeting. Disclosure of Informalion 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 15 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. By order of the board Stephen Varley Trustee 12th Febfuary 2025 131Page Mitchell Charlesworth (Audit) Limited Accountants 14th Floor, The Plaza, 100 Old Hall Street, Liverpool. L3 9QJ LIVERPOOL FC FOUNDATION Independent Auditorfs Report to the Members of Llverpool FC Foundation for the year ended 31st May 2024 Oplnlon We have audited the financial statements of Liverpool FC Foundalion (the 'charlVI for the year ended 31st May 2024 which comprise the statement of financial activities. the balanco sheer. thc statement of cash flows and the notes to the flnanclal Statements, Includlng si8nlflcant accountlng policies. The flnanclal report5n8 framework that has been applied in their preparation Is applicable law and United Kingdom Accountln8 Standard5. including FRS 102 The Financlal Reportin8 Standard applicable In the UK and Republic of Ireland Iunlted Klnidom Generally Accepted Accountlng Practlcel. In our Oplnion the financlal statements: 81ve a true and fair view ol the state of the charitable company's aflalrs as at 31 st May 2024 and of its incomln8 re50urce5 and applicatlon of resource5, for the year then ended,. have been pioperly prepared sn accordance wlth Unlted Kln8dom Generally Accepted Accountln8 PrJctlce'. and have boen prepared in acGofdance with the requiromen15 Qf tho Companl¢s Act 2006. 8a515 for oplnlon We conducted our audit ln accordance wlth Internatlonal Standard5 on AudltlnB IUKI {ISAs IUKII and applicable law. Our responsibilitlo5 under those standards are lurther descrlbed in the Auditor's resp0Tr51bililies for the audlt of the flnancial statements sectlon of our report. We are Independent of the charity In accordanee wlth the ethical requlrements that are relevant to our audli of the linancial statements In the UK. intluding ihe FRCS Ethlcal Standard, and we have fulfllled our other èihleal fesptsnsibllltles in accordance wlth these requlrements. We belleve that the audli Èvidence we have obtained is sulficient and approprlaie to provlde a basls for Our Opinlon. Con¢lusSons relatln8 to iolnB concern In avditlng the financlal slatemenls. we have concluded thal the truslees, use of the goin8 concern ba515 of accountin8 In ihe preparation of the linancial stalemenis is approprlate. Based on the workwe. have performed. we have nol identified any material uncertainties rel81ing lo events Ofcondltions thai. individually or collectively, may cast significant doubt on the charitrfs ability to continue a5 a 8olng concern for a period of al leasl twelve months from when the financial statemenls are authorised for issue. Our responsibilities and the responsibilities of the trustees With respect to goln8 concern are desciibed in the relevant sections of this feF)Ort. 141 P4Be Mitchell Charlesworth (Audit) Limited Accountants 14th Floor, The Plaza, 100 Old Hall Street. Liverpool, L3 9Ql LIVERPOOL FC FOUNDATION Independent Audltorf5 Report to the Members of Llvefpool FC Foundatlon for the year ended 31st May 2024 Icontlnuedl Other information The other infofrn•tion compri5e5 the information included in the annual roport gther Ihan the financial statements and oui auditgr'5 report thereon. Th¢ tru5tee5 are re5ponsiblt for th¢ other informatlon contalned wlthin the annual report. Our opinion on the financial statements doe5 not cover the other Information and. except to the extent otherwise expllclily stated In our report, we do not express any form of assurance conclusSon thereon. Our responsiblllty is to reod the other Information and, In doing so, consider whether the othef Infof m)tlon Is materlally Incon$ls'tent with the finan¢Sal statements or our khowledge obtained Ih the course of the audit, of otherwise appears to be materSallv mlsstated. If we identlty such material Inconsistencies or apparent material mlsslatÈments. we are required to determSne whether thls 8lves rlse lo a material mlsstatemertt In the flnanclal statements themselves. If, based on the Work we have performed. we conclude that there is a materfal misstatement of this other inFormatlon, we are required to report that fact. We have rtothln8 10 report ifi this fe8ard. Oplnlons on other matters prescrlbed by the Companlej Act 2006 In our opinion. based on ihe work uhdenaken in the course of the audit- the information glven in the tiustees, report, which Includes ihe directois, report and the straie8lc reporr prepared for the purposes af company law, for the financial year for whlch the financlal statements are prepared is cons15teni with the financial staiements: and the strateglc report and the dlrectors, report Included w5thSn the trustees, ieport have been prepared in accordance with applitable legal requirements. Matters on whlch we are requlred to report by exceptlon In the Ilght ol the knowled8e and understandln8 of the charlty and Its en¥lronment obtained in the coursé of ihe aydit. we have not Identified matefial misstatements In the strateglc report Of the directors, report Included within the trustees, repori. We have nothlng to ieport In respeci of ihe followlng maiters in rela¢lon io whlch the Companies Act 2006 requlres u5 to report to you Sf, in our opinion- adequate accountin8 records ha¥e not been kept, or returns adequate for our aud5t have not been received from branches not vislted by us; or the financial statements are not in agreement with the accovntins records and return5,- or certain disclosures of trus'tees, remuneration specified by law are not made. or we have not received all the Information and explanatlons we require for oui audlt. 151PaEe Mitchell Charlesworth (Audit) Limited Accountants 14th Floor, The Plaza, 100 Old Hall Street. Liverpool, L3 9QJ LIVERPOOL FC FOUNDATION Independent Auditorfs Report to the Members of Llverpool FC Foundatlon lor the year ended 31st May 2024 Icorttlnuedl Re5ponslbllltles of trustee5 As explalned more fully In the statement of trustees, respon51bllltles. the trustees, who are also the dlrectof S of the charity lor the purpose of company law, are re5pon5ible for the preparation of the financial 5tatemEnts and fof being satisfled that they glve a true and fair view. and for such internal control a5 the trustees determlne is necessary to enable the preparatlon of flnancial staternent5 that are free from material m155tatement. whether due to fraud or error. In preparln8 the financlal slat¢ments, the trustees are wesponslble for assessln8 the charlt*s ability to continue as a 80in8 concern, disclosin8, as applicable, matters related to Boin8 concern and using the golng concern basis of accounting unless the t¢ustees either Intend to Ilquidate the charitable company or io cease operations. or have no rÈalistic alternative but to do so. Audltorfs responslbllllles for the audlt of the flnanclal statements Our objettlves are io obtain reasortable assu¢anee about whether the nnaneial staien)ertts as a whole afe free Irom rnaierièl fflissiaiement, whether due to fcaud or error, and to issue an audlior's report that Includes our oplnion. Reasonable assurince 15 a hi8h level of assurance but is not a 8uarantee that an avdii conducted in accordance with ISAS IUKI will always detect a malerlal mlsstatement when it exlst5. Mlsstatements can arlse Irom fraud or error and are considered material if, individuallv or In ihe aggregate, they could reasonablv be expected to influence the economic deci51ons of users taken on the basls of these Ilnafflcial statements. Irre8vlarlties, Includin8 fraud, are instances ol non.complSance wlth law5 and re8ulatlons. We de518n piocedures In line with our responsibilities, outlined above, to delect material misstatements in respect of irfegularities. inGludin8 fraud. The extent to which our procqdures are capable of detectin8 irfe8vlaritles, inGludin8 fraud. Is detailed b•low. Extent to whlch the audlt was consldered capable of detectin8 irre8ularltles Includlng fraud We identify and assess the risks of material misstatement of the financial statements, whether due lo fraud or error, and then desl8n and pertorm audit procedures responsive to those fisks. Including ¢blainln8 audlt evldence that is sufficlent and appropriale to provide a basi5 for our gpinion. 161 Page Mitchell Charlesworth (Audit) Limited Accountant5 14th Floor, The Plaza. 100 Old Hall Street, Liverpool, L3 9QJ LIVERPOOL FC FOUNDATION Independent Audltorfs Report to the Members of Llverpool FC Foundatlon lor the year ended 31rt May 20241contlnued) Identlfyln8 and asse55ing potentlal rlsks felated to Irre8ularlties In identifying and assesslng risks of matcrlèl misstatement in r¢5pect of irregularlties. Including fraud and non. Compllance with laws and ro8ulatlon5, wo considefed the followlng., Ihe nature of the industry and sector. control envlrgnment and business performance,. the charlty's own assessment of ihe risks that irregularities may occur eilher as a result of fraud or error,, the results of Ouf enquiries of mana8emeni and members of the Board of Trustees of thelr own identification and assessment ol the risk5 of icregularities. any matters we Sdentlfled havln8 obtained and reviewed the charity's documentatlon of thelr pollcles and procedures relating to.. Identlfyln8. evaluatln8 and complylng wlth laws and re8ulatlons and whether ihey wer¢ aware ol anv Instance5 of non-compllance: and detecting and re5pondlng to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and the internal controls establlshed to mitieate rlsks ol fraud or non-compllènce with13ws and fe8ulations,' and the matters dlscussed amon8 the audlt en¢a8ement teèm ie8èrdln8 how artd where frtud ml8ht occur in the fSnanclal statements and any potentlal indlcators of fraud. As a fesuli of these piocedtsres, we ¢ansidered the opporturbities and Incentlves that may exist wlihin the or8anlsation for fraud artd idèntified ihe 8rea¢est potentlal lor fraud lft the following areas.. {il The presentatlon of the chariry's Statement ol Financial Aclivlties, lill the charity's accounting policy for revenue recognition- and lili) Ihe overstatement of salary and other cosis. In common with all audits under ISAS (UKI, we are also required io perform specific procedures to respond to the risk of mafta8ement override. We also oblalned an undef5tanding of the legal and regulatory framework that the charlty operates in, focusing on provisions of those laws and regulations thal had a direct effect on ihe deteimlnation of material amounts and disclosures in the financial 5tatemenls. The key laws and regulation5 we considered in this context included the UK Companie5 Act and the Statement of Recommended Practice - 'Accountlng and Reportin8 by Charities. issued by the joint SORP makln8 body. In addition. we considered provi5ion5 of ¢ther laws and regvlation5 that d¢ not h?ve a dirKt effect on the financlal statement5 but compliance with whlch may be fundamental to the charity's ability to operate or to avold a material penalty. These included Saf¢8uarding and Data Protection Regulations. 171Page Mitchell Charlesworth (Audit) Limited Accountants 14th Floor, The Plaza, 100 Old Hall Street, Liverpool, L3 9Ql LIVERPOOL FC FOUNDATION Independent Auditorfs Report to the Members of Llverpool FC Foundation for the year ended 31st May 20241conllnued) Audit r¢5pon5e to r15k5 Identlfied As a result of performlng the above, we ideniifled the prèsentatlon of the charSty'S Siatement of Financlal Actlvtties, revenue recognilion and overstatement of wage5 and other costs as the key audit matte[5 related to ihe potential risk of Iraud. The key audlt matters se¢tlon of our report explain5 the matter5 in more detall and a150 de5cribe5 the speclfic procedures we performed in response to those key audit matter5. In addllSon to the above. our procedures to respond io rlsks Identifled Included the followlng: revSewirt& the tlnaneial statement dlsclosures and tesiin8 to supportln8 d¢xument311oTh to assess ¢ompl+ance wlth relevant laws and regulaiions descfibed above as havific a direci effeti on the financial staieffiefits. enouirirt8 of managemertt and members of the 8oard of Trustees ¢ortcernin8 actual ènd potentlal litiiatlon and elaims,. performinB analytical procedures to identify any unusual or unexpected relatlonshlps that may indicate tisks of material misstatement due to fraud,. reading minutes of meetings of those charged with 8overnance and reviewln8 correspondence with relevant auihoritles where matters Identified were si8nificant,' In addresslng the risk of fraud through mana8ement overrlde of conlrols, iestlng the approprlateness of Jouinil entrie5 and other adjustments: aSse55in8 whether the judgements made In makin8 accovntin8 estimates are indlcative of a potentlal blas,, and evaluatin8 the bu51ne55 ralionale of any sl8niflcant transactlons that are unusual Qf QUt5ido the normal course of bu5ine55. We al.so communicated relevant Identified laws and ieEulations and poteniial fraud rlsks to all engaEement team members and remained alert to any indicaiions of fraud or non-compliance with laws and regvlations throughout the audit. Because of the Inhereni Ilmltatlons of an audit. there is a rlsk that we wlll not det.e¢t all Irre8ula¢ltles, includlng those leadin8 to a material mi55tatement in the finanrial statements or non-compliance with regulation. This risk increases the more that complionce with a law or ro8ula¢ion Is removed from tho events and tran5action5 reflected in the financial statements. a5 we wlll be le55 likely to become aware of in5tance5 of non-compliance. The risk 15 also greater re6arding Irfegularlties occurrln8 due to fraud raiher ihan error, a5 fraud involves intentional concealment, for8ery, collusion, omlsslon or mlsrepre5entatlon. A further descrlptlon of Our responslbllitles for the audlt of the flnanclal statefflents Is located on the Flnancial Reportlng Council's website at http:}/www.frc.ore.uk/auditorsrespoThsibililies. This descrlption forms part ol our auditor's report. 181 Poge Mitchell Charlesworth (Audit) Limited Accountants 14th Floor, The Plaza. 100 Old Hall Street, Liverpool, L3 9QJ LIVERPOOL FC FOUNDATION Independent Audltorfs Report to the Member5 of Llverpool FC Foundat5on for the year ended 31st May 2024 lconiinuedl Use of our report This rtport is made sololy to the charltable company'5 m¢mbers, as a body, in aCCOfdance wlth Chapt¢r 3 of Part 16 of the Companles Ad 2006. Our audlt work has been undertaken so that we ml8ht slate to the charitable company's rnember5 those matters we are required to State to them in an auditors, report and for no other puipose. To the fullest extent permitted by law. we do not accept or a55ume responsibllity to anyone other than the charitable company and the chaiStable companV5 members 115 a body, for our audlt work, foi thls report, or foi the oplnlons we have formed. klttLWQQL cknLQ%LLoQ(finLE) knvumd Loulse Casev Senior Siafutory Auditor On behalf of Mltchell Charlesworth IAudlt) Llmlted Statutory Auditor 14th February 2025 191Page LIVERPOOL FC FOUNDATION Statement of Financial Activitles (Including Income and Expenditure Account) For the year ended 31st May 2024 Unre5trlcted Funds Restrlcted Funds 2024 Total 2023 Total Notes Income from: 0on3tions ènd leEacies Charltable a¢tivitSes Other tradlng activities Interesi received 1,690.411 798.Q79 2,821.037 95,703 1.690,411 3,554,766 2.821,037 95,703 1.135,209 3.126,968 2.782.062 19,755 2.756,687 Toial Income 5,405,230 2,756,687 8,161,917 7,063,994 Expendltuie on: Raisln8 funds Charitable activities 1,144.892 3,394,315 1.144,892 5,954,861 1,532,609 5,098.641 2,560,546 Total expeftdlture 4,539,207 2,560,546 7,099,753 6,631,250 Net Income/leNpendlturel 866,023 196,141 1,062.164 432,744 Transfers betw*on funds Net movement in funds 19 866,023 196.141 1,062,164 432,744 Reconciliatlon ol lunds: Total funds brou8ht forward 3,326.369 281,651 3,608,020 3,17S,276 Total funds carrled forward 4,192,392 477,792 4,670,184 3,608.020 All Income and expendilure derives from conqinvin8 a￿1VItIeS, The statement of financial actlvities includes all 8alns and losses recognised dLtrin8 the year. The noies on pages 24 to 39 form part of these finaAtial statements 20IPa8e LIVERPOOL FC FOUNDATION Statement of Flnanclal Activitles (Includlng Income and Expenditure A¢¢ount) For the year ended 31st May 2024 Comparatlve Infomiation in respett of the precedln£ period Is as follows: Unrestrlcted Funds Restrirted Funds 2023 Total 2022 Total Notes Income from: Donations and legacies Charit¢ible activlties Other tradine activities Interesi received 1,135.209 780.141 2.782.062 J9.755 1,135,209 3.126,968 2.782,062 19,755 1,393,097 2,737,127 2.242.041 918 2.346.827 Total In¢ome 4,717.167 2.346.827 7.063,994 6.373.183 Expendlture on: Raisin8 funds Charitable aaivities 1,532.609 2,509.586 1.532,609 5,098,641 997,305 4,041,402 2,S89,055 Total expendlture 4.042.195 2,589.055 6.631.250 5,038,707 Nei Income/(expenditure) 674.972 1242,2281 432,744 1,334.476 Trafisfers between funds Net movement In funds 19 674,972 (242,2281 432,744 1,334.476 RKonclllatlon of lunds: Totsl lunds brou8ht forward 19 2,651.397 S23,879 3.175,276 1,840,800 Total funds carrled lo￿ard 3,326.369 281.651 3,608,020 3,175.276 notos on pages 24 to 39 form part of these flnantial statements 211Page LIVERPOOL FC FOUNDATION Balance Sheet As at 31st May 2024 Notes 2024 2023 Fixed assets Tinglble assels Invesiments 14 15 39,SOO 39.S12 39,501 19,513 Current assets Debtors Cash at bank and In hand 16 767,642 4,808,904 503,381 3,744,604 5,576.546 4.247,985 edltors Amounts fallin8 due within one year 1.7 945.863 679,478 N•t curvent assets 4,630,683 3,568,507 Net a￿¢¢$ 4.670,184 3,608.OZO Funds Unrestrictod funds General lunds DesSgnated funds Restricted funds 19 19 19 3,942.392 250,000 477,792 3.176,369 150,S)00 281,651 Total fund5 4,670.184 3.608.020 The linancial statements were approved bv the Board ol Trustees and authori5ed foflssue on 12ih February 2025 and signed on its behalf bv- Stephen Varley Trustee Company Re8iStratlon Number: 04587220 The notes on pa8es 24 to 39 form part of these financlal statements 221 Page LIVERPOOL FC FOUNDATION Statement ol Cash Flows For the year ended 31st May 2024 Notes Z024 2023 Cash flow Irom operatlng actlvltles 21 998.598 482,279 sh flow from Investlnl artlvltles Paymenis to acquire tangible fixed assets Interest received 130.0011 95,703 19,3S21 19,755 Net Cash flow frorn investing artivitles 65.702 10,403 Net Increase In ush and cash *quivalent$ 1,064.300 49Z.682 Cash and cash eoulvalents at 1st June 2023 3,744,604 3,251,922 Cash and cash equivalents at 31st May 2024 4,808,904 3,744,604 Cash and cash equlvalents conslsts of:. Cash at bank 4,808,904 3,744,604 Cash and cash equivalents at 31st Mav 2024 4,808.904 3.744,604 The notes on pages 24 to 39 form pèrt of these financial statements 231Pa8e LIVERPOOL FC FOUNDATION Notes to the Financial Statements For the year ended 31st May 2024 Summary of si¥nificant accounting policles General information and ba515 of preparation liverpool FC Foundation is a company Ilmlted by 8uafantee. and a ¢eKiste¢ed charity in England and Wales. In the event ol the chafSty belng wound up, the liabllity In respect ol ihe Euarantee Is limlted io £10 per fflember of the Charity. The addiess ol the re8lSteied office is given irt the charity Information on pa&e l of these financial statements, The nature of the chariVs operaiions and principal aaivities are. described in the Trustees, Report on page 4. The Charlty constitutes a publie benefit entlty as dellrted by FRS 102. The finaneial siatemenis have been prepared in accordartCÈ wlth Accounlin8 and Repoitin8 by Charities.. Staiement ol Retommended Pracliee applicable to charlties preparlng their accounts In accordance wlth the Financial ReportinB Standard applicable n the UK and Republlc of Ireland issued In October 2019, the Financial Reporting Stsndard appllcable in the United Kib)8dom and Republic of Ireland (FRS 1021, Ihe Companies Act 2006, and UK Generally Accepted Accounting Pracilce. The financlal st3tements are preparèd on a 8oln¢ toneern basis iirtder the hlstorl¢al eosi converttion. The rinanci31 statements are prepared Ih sterlirt8 whlch Is the functional curf ency ol the charity, artd counded tts the nearest £1. The significant accounting policies applied in the preparation of these financial statements ale set out below. These policles have been consistently applied to all years presented unless otherwlse stated. Fund5 Unrestrl￿ed funds are funds avallable for use al the discretion of ihe Irustees in furtherance of the 8eneral objectives of the ehariiy and whlch have noi been deslEnated for oiher Pufgoses. Oe51gnated fund5 comprise unrestrlcted funds that have been 5¢t a51de by the Iru5tCC5 for partlculaf purposes. The alm and use of each de51gnat¢d fund15 Set out in the note5 to the financlal statements. Reslrlcted funds are fund5 which are to be used In accordance wlth specffic re5trictlons imposed by donor5 QI which have beerb raised by the charity fof particular purposes. The cost of raising and adrninist.erin8 such funds are charged agalnst the Specific fund. The aim and use of each restrlcled fund is Set out in the note5 to the financial statements. Income recognilion All incoming resources are included in the Statement of Financial Activitles ISOFAI when the charity is legally entitled to the income after any pecformance Conditions have been met, the amouni can be measured rellably and it is probable that the intome wlll be received. For donations to be reco8nlsed the charity wlll have beer) notlfied of the amounts and Ihe Settlement date In wrlting. If ihere are condltlons atl3ched to the donatlon and this requires a level of performance befofe Éntitlement tan be ebtaSned then Income is deferred until those conditlons are fully met oi the fulfilfflènt of those cortditions is w4thin thè control of the charity and it is probable that they will be fulfilled. Donated facilities and donated profe55ional 5ervice5 are recognised in income at their fair value when their ¢conomic benefit 15 probable. it can be measured reliably and the charlty has control over the item. Fair value Is determined on the basis of the value of the gifi to the charity. For example the arnount the charity would be willin8 to poy in the open mark¢t for svch lacilities and services. A corresponding amount is recogni5¢d in expendlture. 241Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 Summary of slgnlficant accountlng pollcies (contlnued} Income re¢o8nition {contlnuedl No amountls Included in the finan¢lal statements for volunteer time In Ilne wlth the SORP IFRS 102}. Further detail is glven in the Trustees, Annual Report. Incorne from tradln8 actlvltles Includes Income earned from fundralslng events and tr3dlng actlvities to raise fufids for the charity. Income is retÈSved irt exchange for supplying goods and servlces in order to ralse funds and is recoenised when entitlement has occurted. Income from charitabl¢ activiti￿ Includes Income received under contract or where entitlement tQ 8rant lundlng 15 Subject Io special performance condltions and 15 recognised a5 eamed a5 the related 5ervlces are piovided. Grant Income Included in this category provldes fundlng to support performance aclivities and is reco8nlsed when ihere Is entiilement. certalnty of receipt and the amounts can be measured with sufficlent rellability. Expendltufe re¢o8nltlon All expendlture Is accounted for ort an act¢uals basis and has been classified under headings that ae8re8aie all costs f elaied to the category. Expendilure is fecognised where there Is a legal or constructive obligaiion to make payment5 to third partles, it Is probable that the settlement will be requlred and the amouni of the obligation can be measured reliably. It Is categorised under the followlng headings,. Cost of raislng funds include5 Costs incurred in running fundraising events, Expenditure on charitable actlvitles includes costs Incurréd in ihe provision of education, health. employment. communlty en8a8ement, youth Inte￿entIonS and sport and physlcal activities. Irfecoverable VAT is charged as an expense ?gainst the activity for which expendit.ure arose. Support ¢ost5 allo¢atlon Support costs ale those thai asslst the work of the charlty but do not dlrectly represent charltable artlvitles and Include offlce ¢ostS. 8oveirtancÈ tosts, ènd admlnlstfatlve payroll costs. They ate Incurred dlrectly Ih SUPPOrt of expendlture on the oblects of the ¢harily and Include project Management carrled out at Headquarters. Where support costs cannor be directly altributed to particular headings, they have been allocated to cost of raising funds and expenditure on ehafltable acriviiles on a pro-rata basis eonslstefit with use of the resoufees. The analysls of these costs is included in note 7. 251Page LIVERPOOL FC FOUNDATION Notes to the Financial statements For the year ended 31st May 2024 Summary ol slgnlficant accountin8 pollcies (continued) Tanglble fixed assets Tan8ible fixed assets are stated al Cost lor deemed costl or valuation less accurnulated depreeiation and accumulaied Impalrment losses. Cost includes costs directly aitributable lo makin8 the asset capable of operating as Intended. Laptops and moblle phones are capitalised on rhe balance sheet, along wlth any other Indlvidual assets where their c05t exceeds £500. Oep¢eciètion Is Pfovlded on all tart8lble fixed assets, at rates ¢aleulated to wrlte ofl the eost, less estimated residual value, of Èath assel on a systematic basis ovèr its expected useful life ès tollows., Computer and other equipment Fixtures and firtings Refurbishment costs 25-33% per annum 25% per onnum 5% per annum Investments Investments In 5vb51dl4ri¢s are measured at C95¢1¢55 lrnpalrment. Consolidated financSal siatements have noi been Pfepared on the 8rounds that the subsidiary undenakln8 15 dormant. Debtors and ¢redltors recelvablelpayable wlthln one year Debtoryi and cf edltor5 wlth no stated Interest rate and recelvable or payable wlthln one year are recorded al transaction prlce. Any losses arisln8 from Impalrment are reco8nised In expenditure. Prov15i0ns PfovisloThs are reco8nised V•hen the charity has an oblieatlon ai the balance sheet date as a result of a past evertt. It Is probable thal an outflow of economic benelits wlll be requlred in 5etilement and the amount can be reliably estimated. Flnanclal Instruments The chaiity ha5 ¢l¢cted to apply the prpvi5ion5 Qf Seclion 11 'Ba5ic Finanrial Instrument5, and Section 12 '0ther Flnanrlal In5truments15sues' of FRS 102 to all of its financial in5trument5. Flnanclal instruments are fecognised in the charity'5 balance sheet when the Charity become5 Party to i.he contfactual provi5ion5 of the instrument. Flnancial assets and liabilitles ire offset, with the net amounts presented in the nnan¢ial statements, when there is a leually enforceable ri¢hi to set off the recognised amounts and there is art intention to settle on a net basis or to realise the asset and sertle the liabllity simultaneously. Boslcllnonclol osset$ Basic financial assets, whlch include debtors and cash and bank balances, are initially measured at transaction price including Iransaction costs and are subsequently carried at amortised cost using the effective interesi meihod unless the arrangement constitutes a financing transaction. where the tfansaciion is measured at the present value of the luture receipts discounted at a market rate of interest. Financial assets classlfled as receivable within one year are not amonised. 261Pa8e LIVERPOOL FC FOUNDATION Notes to the Financial Statements For the year ended 31st May 2024 Summary of slgnlficant actountlng policies Icontinuedl 8aslcfinanciol liabllftles 8aslc financial liabilltles. includlng creditors and bank loans, are initially recognlsed at transaction price unless the arrangement constltutes a flnancln8 transactlon. where the debt insirurnent is measured at the pwesent value of the future receipts discounted at a market rate of interest. Flnanclal Ilabilltles classlfied as payable wlthin one year are not amortised. Oebt in5¢rument5 are subsequently carried at amortised cost, using the effective interest rate method. Trade credltors are obllgatlons ro pay for goods or seThice5 thal have been acquired In the ordinary course of operatiOll5 from suppliers. Amount5 payable are cla55ified as current liabilities if payment is due wlthin one year or less. If not, they are presented as non.curfent liabilities. Trade creditors are recogni5ed initially ai iransaction price and Subsequently measured at amort15ed c05t Using ihe effective interest meihod, Derecognltlon olllnonclol Ilobllltles Financial liabillties are dereco8Di5ed when the chariV5 contractual obll8atlons expire or are discharged or cancelled. Leases Rentals payable and receivable under aperatln8 leases are char8ed to the SOFA on a strai8ht Ilne basis over the period of ihe lease. Émployee benefits When employ¢es have rendered ser¥lce to the chèrlty. short-term employee benefits to which the employees are entltled are reco8nlsed at the undlscounled amount expected to be pald In exchange for Ihat 5ervlce. The chariiv operates a deflned contrlbutlon plan for the benefit of its employees. Contributions are expensed as they become payable. Tax The charlty is an exempt charlty wSthln ihe meanln8 of schedule 3 01 the Charitles Art 2011 and Is consldered to pass the lests set out in Paraeraph l. Schedule 6 of the Finance Act 2010 and therelore meets the definltlon of a charitable company for UK torporatlon tax purposes. Goin8 concern The financial statements have been prepared on a going concern basi5 as the trustees believe that Do fflaler4al uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 month5 from authori5ing these financial Statements. The budgeted income and expenditure is sufficient wlth the level of reser4es for the charlty to be able to continue as a 8oin8 concern. 271Page LIVERPOOL FC FOUNDATION Notes to the Financial Statements For the year ended 31st May 2024 Income frorn donatlons and legacles Unrestrirted Fund5 2024 2023 Total Total Unrestfirted Restricted Oonalion$ Liverpool FC donation in klnd 1,033.515 656,896 1,033,515 656,896 557,665 577,S44 1,690,411 1,690,411 1,135,209 Income from charltable artl¥tties 2024 Total 2023 Total UnrestrScted Restrlrted Project incomc: Fotstball & Sports Developrnent Communlty Engaaement Youth Intervention5 Education & Skills Employment & Tralnini Health & W¢llbein8 Other eharltable Income 153,180 1,173 77,946 92.143 198,956 S4,711 219,970 315,615 729.575 791,549 234,934 291,870 163,144 230,000 468,794 730,748 869,495 327,077 490,826 217,85S 449,970 455,483 297,085 790,393 377,815 384,8(X) 239,461 581,931 798,079 2,756,687 3,554,766 3,126,968 £2,346.827 ol the above Income lft 2023 was aittibutable to restricted lunds and £780.141 OF the above income in 2023 was attributable to unrestrieied funds. Income from other tradln8 a¢tl¥ltles Unrestrlcied Funds 2024 2023 Total Total Events income 2.821.037 2.782,062 Interest received Unrestrlrted Funds 1024 ZOZJ Interest receivable 95.703 19,755 281Page LIVERPOOL FC FOUNDATION Notes to the Financial Statements For the year ended 31st May 2024 Analysis of expenditure on charitable acllvlties 2024 Total 2023 Total Staff costs Other Project expendliure.. Football & Spocts Development Community Engagement Youih Interventions Educarion & Skills Employment & Tralnln8 Health & Wellbein8 Foundation Activity Partnershlp Income Support Costs 409,192 287,280 663,257 431,442 435,447 243,563 130,045 283.354 282.456 113.532 154.695 101.079 538.226 186.312 862,495 539,237 570,634 945.713 544,975 590,141 344,642 538,226 186.312 1,694,980 589,378 414,644 823.334 547,407 584,369 348,982 732,083 83,734 974,710 832,485 3,302,666 2,652,195 5,954,861 5,098,641 2024 Total 2023 Total Unrestrlrted Restrlcted Project expendlture: Football & Sports Development Community Engagement Youth Interventlons Education & SkS115 Employment & Tralning Health & Wellbeing Foundatlon Activity Partnershlps Support eosts 196,627 $4.S56 212,617 320,796 269.664 161,854 538,226 174.995 1,464.980 342,610 516.078 733.096 224,179 320.478 182.788 539,237 S70,634 945,713 544,975 590.141 344,642 538,226 186.312 1.694,980 589,378 414,644 823,334 547,407 584,369 348,982 732,083 83.734 974,710 11.317 230.000 3,394,315 2,560.546 5,9S4,861 5,098,641 £2.589,OSS of the above expenditL•fe In 2023 was aitributable to festricted funds and £2,509.586 of the above expenditure in 2023 was attributable to unre5trlcted fund5. Allocation of support ¢0Sts 2024 2023 Governance {see note 8) Staff cosls Depreclailort Office costs Legal and pf ofessional Advertlsln8 Donaiion In klnd G6fted Tickets Other 11,200 832,485 3,662 264,415 87,810 3,941 71,479 305,963 114.025 10,000 636,229 4.167 82,974 14,786 10,978 124,443 90.489 644 1,694.980 974,710 291Pa8e LIVERPOOL FC FOUNDATION Notes to the Flnancial Statements For the year ended 31st May 2024 Governance costs 2024 2023 Audlt and accountancy fees 11.200 10.000 Net Income/lexpeftdlturÈ) for the yeaf 2024 2023 Thls Is stated after char8Sn8.'" Deprecialion of tan£ible nxed assets Avditors. remuneration - audit Operatin8 lease rentals 29,625 11,200 94,381 35,987 10,000 62.655 io. Taxailon The eompiny is exempt from corpoiation tam on Its charitable activities. ii. Audltorfs remuneratlon The avdltor'5 r¢muneratlgn amounts to an •vdit feo of Ell.20012023.. £10.OCKII. 12. Trustee< and key management personnel reffluner•tlon and expenses M Paflsh, the Chlef Executive Is also a Trustee of the Charity. Hls remuneratlon in his capacily as Chlef E.xeculive for the year was £142,735 12023 £116,7501 and employef pension contributions were £11,130 12023 £10.5001. No other trustees feceived nor walved ?ny remuneration during the year12023 - £nill. Three12023= fwol trustees had travel and sub$iStence expertses relmbursed durirt8 the year to the value or £1,26412023.. £233). The key management personnel of the charSty cornpr15e the CEO. Head of Finance. Head of Pfogramme5, Head Of Communlty En8a8ement. Head ol Partnershlps ind Head of Governance and Compliance. The lotal amounl of ¢mploye¢ beneflt5 r¢r¢ived by the key managemerst personnel 15 £523.770 12023 £388.9181. .30IPage LIVERPOOL FC FOUNDATION Notes to the Flnancial Statements For the year ended 31st May 2024 13. Staff costs and employee benefits Number of eMplo￿e5 The average monthly number ofemployees and full-tlme equivalent dtsring the year was as follows-_ 2024 Number 2024 FTE 2023 Number 2023 86 83 82 78 The totsl staff cost5 ?nd employee beneflts were 05 follows... 2024 2023 Wages and 5alarie5 Soclal se¢urlty costs Defined conlributlon pension costs 3.034,267 250,093 194,375 2,462,995 207.589 158,032 3,478,735 134,634 169,454 2,828.616 191,776 134,868 Recharged wages Donaiions in kind 3.782,823 3,ISS,260 Toial redurtdarteyltermlnatlon payments amounied to £NII12023 £Nill. The number of employees who received lotal employee benefit5 lexcluding employer pension costs) of more than É60.000 is as follows... 2024 Number 2023 Number £60,001- £70,000 £70.001- £80.IJOO £80.IXII . £90.000 £90,001- £100.O(yJ £,IOD.(K)I - £110,1￿? £IIO.IXII - £120.C4KI £120.001- £130,1)00 £130.001- £140.IXKI £140.IXII - £ISO.(NXI 311Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 14. Tanglble fixed assets Computers & other equlpment Total Cost At Istjune 2023 Addilions 015posals 161.069 30.001 (19.783 161.069 30.001 119.783) At 315t May 2024 171,287 .171.287 Depreclatlon At 1st June 2023 Chaf8e for the year Olsposals 121.557 29,62S 119,395) 121.557 29.625 119,3951 Ai 31st May 2024 131,787 131.787 Net book v•lue At 31st May 2024 39.SOO 39.500 Ai 31st May 2023 39,512 39.512 321 Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 15. FIMed asset Investrnents The investment represents the whole of the Issued share capilal of Liverpool FC Foundation Trading Company Limited, a company incorporated in England and Wales which undertakes commercial activities on behalfof the Liveipool FC Foundation, The company has noi traded during the year, The balance sheet position is as follows-_ 2024 2023 Balance sheet Oebtors Net assets Irepresented by Share capltal) 16. Debtor5 2024 2023 Trade debtors Amounts Owed by related undertakin8 Oiher debtors Prepayments and acccued income 123.422 64.006 560.232 19.982 78,991 223,066 161,397 39,927 767.642 503,381 17. Credltois: Amounls fallln8 due wlthln one year 2024 2023 Trade cfeditors Amount5 due tv 5ub5idiary undertakin8 Other tax and social seeurilv Costs Accrua15 and deferred income oiher creditors 312,115 33,704 41,222 584,800 7.725 55,573 582,47S 7.725 945,863 679,478 18. Deferred Income At Istjune 2023 Additions during the year Amount5 released to Income 419,852 395,724 1419.8521 At 31st May 2024 395.724 Oeferred income represents 8rants received in advance from variovs Soufces. 331Page LIVERPOOL FC FOUNDATION Notes to the Finan¢lal Statements For the year ended 31st May 2024 19. Fund reconclliation Unrestrirted fund5 Asat 01.06.23 Asat 31.OS.24 Income Expenditure Transfers General lunds Deslgnated funds.. Cash rese￿e$ 3,176,369 5.405,230 14.539,2071 (100,000} 3.942,392 Iso.000 loo,000 250.000 3,326,369 S,405,230 (4.539,207) 4,192,392 Deslgnated fvnds The trustees have set aslde a cash resenie to ensure financlal resllience, The objectlve is to maiThtaln a cash reserve of £250,000 whbch was uplifted Irom £150,000 38reed by the Board of Trustees in o￿ober 2023. Restrlcted fund5 Llverpool Foofball Club Pfovldes In-kind support for LFC Foundation operatlonal servlces Sncluding central offlce accommodatlon, corporate service5 includin8 legal. payroll. finance and HR. The charity also secures investmerst from grant funders for programme dellvery. in the majorltyvla the PremlerLea8ue. Details ofthese pro8rammes can be found below:_ Asat 01.06.23 sat 31.05.14 Income Expenditure Tran51ers Foot.ball & Sport5 Development Coffimunily Engagement Youth Interventions Educatl¢)n & Skills Employment & Tralnln8 Health & WellbeinB Portn¢r5hip5 Support Costs 61.440 54.793 86.530 315,615 729,575 791,549 234,934 291,870 163,144 1342.610} 1516,0781 (733,0961 1224.1791 1320,478} 1182,7881 111,3171 1230,0001 34.445 268.290 144.983 10.755 28.608 38.963 11.317 19.319 230,CK)O 281,651 2.756.687 12.560.546) 477.792 341P4ge LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 19. Fund reconclllatlon (continued) Comparative information in respect of the preceding period is as follows". Asat 01.06.22 Unrestrlcted fvnds Income Empendlture Transfers 31.05.23 General funds Designated funds: Cash resefves 2,SOI.397 4.717,167 14,042,195) 3.176,369 150,000 150,000 2,6SI,397 4.717,167 14.042,195) 3,326,369 A5at 01.06.22 Asat 31.05.23 Incorne Expendlture Transfers Fooiball & Sports Development Community Engagement Youth Work Education & Skllts Employment & Training H¢4kth & Wellbeln8 Partnershlps Support Costs 103,253 117,848 77,284 397.433 295.350 745.385 28S.201 383.997 239.461 {430.124) 1333,405) {770,261) {285,20SI {489,949 1253,2241 126,8871 19,1221 125,000) 34,122 61.440 54,793 86.530 134,564 52,726 38,204 28.608 38,963 11.317 523,879 2,346,827 12.S89,0551 281.651 The lollowln8 pro8rammes are funded by the Premier Leè8ue:. PL Klcks The PL Kick5 progwamme continue5 to 5UPPOrt and engage teenagers in areas of high antl.50cial behaviour. The programme incorporates our young people's disability and 8irls football provislon. We have expanded our Klcks delivery and set up SMF Kicks which are new se551ons funded throu8h the Steve Mof8an Foundation. Kic*5 Football+ - a joint initiative with Merseyside Fire and Rescue service helping to reduce anti-50cial behaviour and criminal activity and encouragin8 lorbg-term personal 8iOWth and development. We have expanded our offer to include an Inclusive prD8ramme and 8ir15 Qnly provision. PL Insplres The pro8rammÈ looks to use a ran8È of actlvlties In and outside ihe classroom delivering sesslons based around teamwor* and tO8Ètherness alon8slde empowerln8 youn8 people In en8a6in8 In soclal aclion. in-turn lrtcreasln8 togetherness Wlthin the group. Pl Primary Stars Works wlth local schools to develop skills and afflbitlon of young people aged 5 to 11 years, In both a spons and classroom environment. The pro8ramme is offered free to all Primary Schools in the L4,5 & 6 postcodes and Kifkbv. This also has a paid element to the programme that works with and additional 20+ schools. 351Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 19. Fund recondllatlon leontlnued) Restrlcted funds (contlnued) Alternatlve Educatlon Ortside (Alternatlve Edv¢atiofil- The Onside, programme funded by the PLFPA aims to support a wide ran8e of youfig people 3oed 11-16-year-old ih schools aeioss Merseyside, The programme targets those who are at rlsk of leaving malnst(eam educalion and/or on the cusp of criminallty and Identilled by Merseyside Police. Fan Referral The programme aims to support speclfic youn8 people Identlfied by the LFC Foundallon Youth Piovision/Detached Team and the LFC Foundation Sale8uardin8 Team, in collaboration with matchday staff at Anfleld Siadium. It is deSlBned tg work with individua15 who have been noted for exhibltin8 POOT behavior durlnB LFC matchday fixiures. elther inside or outside the stadium, which has ce5ulled ID anti-social conduct. R¢d Nelghbours Communlty (Premier League Profe55ional Football Assoelatlon} Followin8 the 511CCC55 of the Red Neighbours. this Piemier League Professional Football A550ciation fundlnB allows lof replication acr055 different community hubs. using the sème prlnciples and aiea of work, Welcome Ipreffller Lea8ue Fan Fund) Welcome Reds. a Prernler Leaeue Fans Fund project Is designed to stren8then the bonds between Liverpool FC fans, the Club, and local cornmunitle5. Delivery monthly en8a8ement sesslons focusinKon LFC hlslory In a bid to reduce social lsolatlon and Increase ED&1 knowledge.. On Target A school mcntal heallh programmo dolivered in partnership with Adion foT Chlldren furbded bv the PLPFA. Global Work5 UK Targeted employability intervention. funded by the Premier League. working with young people aged 16-25 who have a passion foi sport. The progiamme aim5 lo upskill young people to give them the 5ki11s, confidence and aspiratlon to PUf51Je careers In 5POrt and beyond wh115t supportins them with vital ¢mployabllity skS11s. SEN Schoo15 We currently deliver PE and SUPPOft curriculum activities In 15 SEN schools 8CCOSS the Llverpool City Region. Specialist disability coaches run this prcgcamme weekly. SMF Works rhls employabllltv Pfogrèmme works with 16-25 year olds who jre looking for stspport with 8eitin¥ into employment. edueation or tfalnin8. The pro8famme encompasses a mixture ol group sessions and 1-2-1 support with all aspects of employabillty from CV support to interview pradlce and confSdence bullding. It a150 provides work experience opportunities across Livefpool Football Club and has a dedicai'ed team of careers advlsors who provide posi programme support. SMF KScks The funding from Steve Morgin ha5 enabled us to grow our Kicks programme ¢xpandin8 our hub slte5 acro55 the Merseyside re6i9n. SMF Hub5 We have created a community wellbelng hub model whlch allows u5 to support community siies aCIO55 the slx area5 of Mer5ey5ide creating'community hubs". We h4ve 5UPPOrted each hub with facilwty fefurbishments and are now rurbning our programme5 from these hub sites as well as building capacity in each site. allowing them to grow areas of their centres that have the highest need. 361Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 19. Fund reconclllatlon Icontlnued) Reslflcted funds (contlnued) Other funded proiects are as follows- Go Play Our family multi.sport and physical activity projeci designed to support families to be mcre active together - vtilising parks, community venues and open spaces across the Liverpool City Region. County Une5 Illome Offlce) LFC Foundation and Merseyside Polite have joined lorces to help address the issues aiound vouth and 8an8 crime In conjunctlon with schools in Merseyside. Thls highly targeted pro£ramme provides studenls wlth key skills. ¢onfiden¢e and the ieslllence needed io overcome obstacles and choose the f Ight pathways in life. Youth Works LFC Foundaiion workin8 alonRslde Liverpool Cliv Council to recruit young people wllh a passlon for youih work Into the sector. The pro8ramme uses an apprentlceship model io train f￿lIV qualified youih workers to rebuild the cit(s provision of quality and skilled youth woikefs. This is funded via the Merseyside Violence Reduction Partnership, Liverpool City Council and Liverpool Education Grant Awards Trust. #i wiii #l WS11- £1.23m maich fvnded project whlch seeks to increase particlpatlon in social aciiort by young people aged 8 to 14 years old. The aim Is io embed social actlon In youn8 people's Ilfe choices. so it becomes a life-long behaviour. We have an extenslon projert ihat sits under Ihe 111 Will umbrella and locuses on en8a8ln8 with youn8 people ffom SEND and Aliernative Education settin85. Mental Health - Splilt o15hankly We are workin8 wlth the fan group "Splrlt of Shanklf lo dellver mental health work5hop5 targ￿l￿g male f3n5 to raise awarenes5 of suicide prevention. Sound Mlnds A music and mental health programme funded by the Karlsson Jativa Charltable Foundation sUPPOrting young people to maTra8e their mental wellbein8 effertively, Global Works USA A sport-ba5ed employability proeramme delivered across New York and New Jersey that also comprises cocporate mentoiin8 and tsilored career support that lar8•ts th05e furthest from the job market. Tar8et - 160 participants each year. Mllltary Veterans Supports veterans In Liverpool Clty Reglon back Into civillan Ilfe by offerlng football coaching se55ions and local tournament5. This season we have expanded our provi5i0n to have a bigger emph?si5 on older veterans and 5UPPOrting veterans. families. 371Page LIVERPOOL FC FOUNDATION Notes to the Flnanclal Statements For the year ended 31st May 2024 19. Fund recofielllatlon IcontSnuedl Restrlcted funds {contlnued) Mov• This piogramme 15 delivered in partnershlp with Alder HeyChildfen'5 Hospltal. We support youn8 people livin8 with Cystic Fibrosis, respiratory condition5 and end￿fIne patients in a hospital Setting. supporting them io 13ke part in physlcal actlvlty In a Community 5ettin8. Man2Man A new men's mental health programme in partnefship with Seans Place, a Liverpool based charity supporting men from across the region. Gome On A mvltl-sport programme in partner5hlp wilh the PLPFA and Nike. Thi5 programme supports young people to try new 5POrts creating a pathway into local sport5 clvb5. We also run a coach mentorin8 pro8ramme through the additional funding from Nlke. Unrestrl¢ted funds Reslf Icled Funds 20. Anatys5s of nel assets between lunds Total Fund balances at 31st May 2024 are represented by: Tangible fixed a55ets Investments Cash Other net current assets 39,SC 39,500 4,331,112 1178,2211 477,792 4,808,904 1178.221} 4.192.392 477,792 4,670.184 Comparatlve Information In respect ol the precedlne period is as lallows-, Unrestrlcted lunds Restrlcted Funds Total Fund balances at 31st May 2023 afe repre5¢11ted by.. Tangible fixed a5sels Investments Cash Other net current assets 39,512 39,512 3,462,953 1176,097) 281,651 3,744.604 (176.097 3,326,369 281,654 3.608.020 381PaBo LIVERPOOL FC FOUNDATION Notes to the Financlal Statements For the year ended 31st May 2024 21. Reconclliation of net Movement In funds to net cash flow from operating actl¥ftles 2024 2023 Net irtcornellexpenditurÈl for yèar Depreciation of tangible fixed asset5 Loss on dlsposal of fixed assets Interest feteived Ilncrease)/Decrea5e in debtors IDecrease)Ilncf ease In credltors 1,062,164 29.625 388 195.7031 1264,2611 266.38S 432,744 35,987 207 119,755) ZIXl,912 1167.8161 Net Cash flow from operatln8 4Ctlvllles 998,598 482.279 22. Finan¢ial cofflmltments The ¢ompaThy had capltal ¢ommltments of ENII at 31st May 202412023.. £NIII. 23. Related party transactlons Llverpool FC Foundailon Is ihe charltable arm of The Liverpool Football Club and Athletlc Grounds Limlted. The charity operales separately from the Llverpool Football Club and its iesulis are not Included in the accounts of Llverpool Football Club. Durin8 the year Llverpool Football Club and Athletic Grounds Limlted Incurred operatlne costs of £656,89612023: £577,544> on behalf ol the charity, Ihese are Sncluded as a donation lrt kind and as direct charitable and support Costs withln notes 2, 6 and 7 in the accounts. The charlty received other income vla the club amouniin8 to £2,563,72012023: £2,211,975). 01 this amounl, El,870,647 {2023: £1,736,445) relates lo Ticketing and Hospitality income for Liverpool FC Foundation Evenls where ihe Income was taken by Liverpool Football Club on behalf of the charlty. Expenditure invoiced by the club amounted lo £726,437 (2023.. E503,16ZI. The balance due from the Club at 31st May 2024 amounted to £64,00612023: £223.066). Expendlture Involced by LFC Foundatlon charity trustee, Laura Weston Ltd. to LFC Foundatlon for consultaney seThilces amounted to E13.97512023' Nlll. Thls was relatlng to speclallst support to develop a new Foundatlon Marketln8 & Communi¢atlons Strategv. 24. Anafy515 01 net debt The charity has no debt to analyse lor the purposes of the Statement of Cash Flows. 391Page