Charity r•gistration number 1102719
Company r•gistsation number 03295676 (England artd Wolesl
THE FALDO TRUST FOR TOMORROWS CHAMPIONS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Haines Watts
Charte￿d A¢¢ountants
Bridge House
157 Ashley Road
Hale
Altrincham
Cheshire
WA14 2UT
*ACCLWI*
09r2023
COMPANIES HOUSE
#57

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustee$
M A Faldo
N A Faklo
Charity number
1102719
Company number
03YJ5676
Regist•r•d offic•
20 Markel Street
Altrincham
WA14 1PF
Independent examin8r
Haines Walts
Bridge House
Ashley Road
Hale
Ahn"ncham
WA14 2UT

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
CONTENTS
Page
Trustees. ￿port
Independent examine¢s report
Slalement offinancial adiwtyes
Balance sheet
Notes to the financial statements
9-17

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2022
The Iruslees present Iheii annual rem and financtal statements for the year ended 31 December 2022.
The financial stslements have been prepared in attordance wth the acc<)unting polityes sel out in note 1 to the
financial statements and compty wrth the chartys governing document, the Companies Act 2006 and "A¢¢ounting
and Reporting by Charities." Statement of Recornmended Practice applrable to charilies preparing their a¢u)unts in
accordance with the Financial Repornng Standard applicable in the UK and Republ￿ of Ireland IFRS 1021"
(effèctive 1 January 20191.
Objectives and aetlvltles
The Irustees have paid thje regard lo guidance issued by Ihe Charity Commission in decading what adivities the
charrty shoukl undertake.
The objects of Ihe ¢harity are..
1.. The provision ol opportunib.es to partiap*e in sporting aciiwlies in the inte￿$tS of healthy re¢realion or th8
advancement of phys￿1 edu¢ation of young people generaNy and without prejudice to the generality ol the
foregoing. To establish support, encourage. promote. organize and operate goti tournaments, golf development
programmes and such ancillary lacililies and actmties for the benefit and weffare of yovng gotlers as the Trustees of
the Charity may deem appwopriate.
2.. To offer assistance lo members of the beneffiuary das5 who are in need or Olherwise di$a11vaniaged.
3. To enhance the opportunities lor golfers to qualrfy for playing membership of the Faldo Series events an11 10
provide these golfers with a programme that M8￿MIZeS their golfing potential.
Principal activity
The Truslees have referred to the guKlance in the Charhty Commi55w's gerw* 9uidanc8 on public benefit when
reviewing rfs objectives and pl8nnin9 future activibes.
The Faldo Trust for Tomorrow's Champions operates the FakJo Series whith provths OPPOrtLinities for talented
young golfers each year and simutsrwjusty introduces the game lo many more.
th 10 tournaments this yeai. over 400 leading young golfers. boys and girfs aged 12 10 21. have the opportunity lo
experience top-level competition at a range of championship events.
The Faldo Trust for Tomorrow's Champions makes 0￿5￿)nal use of voluntary referees at the Faldo Series '
loumamenls.
At several toumaments. competitofs benefft from a sèries of education seminars on topics ranging from toumamenl
preparation to diet and filness. from sports psychol(NJy to public speth'ng, enabling them to develop an all-round
knowledge of the sport.
Forty players qualify for the presligious Faldo Swies Grarld Final. hosted eath year by Sir N A Fakjo. This is a
World Amaleur Goll Ran￿"ng event and,. on it's completion. five ol the age caleg¢)ry winners qualfy to play in the
Faldo Series A￿a Grand Final at The Laguna Lang Co G¢)11 Club in Vietham.
A new FulurÈs loumamèftt was ¢rÈated lor ￿#ye1$ agÈd 7- 12 years dd. vthith gave ccmpetitors the opportunity lo
experience goll ctsmpetition for the first time. both as spectators and participanls. For those children who develop an
interest, development programmes are made avaiL7t*le in coniunction wrth gdfs governing bodies.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Aehlov•m¢nts and ￿rfOrniant0
The Faldo Trusl for Tomorrow's Champions helped lo introduce children lo goK in Ihe year ended 31 December
2022. through the following inktiatives..
Introduction to - al several Faldo Series events, chIld￿n from the local comrnunities were invited lo
attend". they watched the competitors in action and received a free 9011 dinK. The Faldo Trust for
Tomorrov/s Champions covefe¢J all expenses. The local chihlren also re￿Ned free golf merchandise
where appropriate. such as 9011 luition books and were directed io certain golf irtiliatives ana tuiorials on
the internet to encouragè them lo play the 9arne.
The Faldo Tnjsl lor Tomorrow's ChaM￿.0n$ helF*d create access to the Faklo Series for taknled golfers aged 12 to
21 in the year ended 31 L)ecernber 2022. through Ihe fc4lowing iniliatNes.'
The Faldo Series main schedule was once again severely disrupted due to the Covid-19 pandemie. with
th& schedule oflèring rnembèrship pla￿$ to over 400 playtrs. In addth.on to 7 UK championships, 3
overseas toumamenls took place in Ireland. Lafvia and F￿nCe. The Faldo Trust for Tomorro￿$ Champions
covered the majority of the expenses here for its siaff an¢J the Faldo Series ¢ompetslors.
The Faldo Trust for Tomorro￿$ Charnptsns during 2022 helpèd to PTOVi(l¢ Faldo Strries rnembws wth a programme
thal maximises their golfing potential through the folhwing initi•"ves'.
Faldo Series main schedule - all v¢nts continued lo combine toumament cOndrt*￿S and fiTsI-dass venues
with expert advice from a selection of guest speakers. The Faldo Trust for Tomorr￿￿& champK)ns Covered
all expenses.
One Faldo Series Grand Final took place in 2022. 10 cornpletè our European Season of events. Our Asia
schedule continued to be postponed due to the travel disrupb.ons for venues to host events and
subsequently their winners Ir8velliro to V*tnam was blcKked.
Forty players qualified foi the combined 54-hole Gfand Finals in the UAE to condude the 2022 seasort. In
addition to the lournarnent experience, the schedule induded murtiple player dinics and QIA sessions ffom
Sir NKk Faldo. The Faldo Trust fof Tomorrows Charnw'ons ry)vered ex*nse5. Indtsding gow course fees,
food and merthandisè gifts lor all the finalists_
Future dev•lopments
Over the next six months, the Faldo Series plans to go through an exciting restru¢ture. brin9ing it in linè with the
¢hanging nature of compelrtwe golf A broader pathway is to be created for young goffers from the age of 7 through
lo under 25 elile amateur5. who duriry this Joumey will gel introdu¢eil to high Jevel ¢ompetilion, gain WAGR points
and ultimately compete frjr access into the DP Workl Tour and Challenge Tour events prov￿l￿g this step into the
professional competition. Wth these changes, comes a new offering to all host dubs l Federalions supporting the
Fahlo Series lo provide more experiencE5 and op￿￿￿e$ forjunNy5 in their gdfing pumey.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Flnancial revlew
Thè statement of finani>81 adimlies is sel out on page 5 and shryws the net ineming resoU￿S for the year.
The Charity reports a in the year of £20.258 12021.. deftrt t29.282}. At the 31 Decembef 2022. the Charity
had.an accumulaled defitit of resetyes amount￿9 10 £9.189 [2021: surplus £11,069).
This level of surplus reserves are requirèd to help the Charty continue lo fun on a day lo day basis. These reseryes
are required to put on events in the lulure and assist in raisng further ¥warenes$ and funds to help the Charity
achieve il's objectives.
The printspal sources of funding are donations and sponsorships receNed frorn golfing orgaTrisations. During the
year ended 31 1)e¢ember 2022. the main donors were The R&A. ThÈ PGA Tour and The Europèan ToLtr. The costs
of the charitable actMlie5 and govemancè are induded in pursurt of thÈ printspal activities of the Charity and
scheduling of golf events both in the UK and abroad. Durin9 the ￿1rrent year balances owed to participating
interests and S1r Nick Faldo have been wrfften off. which has reduced Ihe deficrt inCU￿d in the year.
Reserves
The Trustees, ongoing policy is to raise and maintain sufficient fvrKls to enable the Charity to operatg the Faldo
Series. to pay for periodic caprtal expendrture and unloieseen ¢onlrngenGies. The Trustees, consider reseNes
should be maintained al a level of £20.0(K). De5Plte reserves bèing in a deficii position al the balance sheet date.
inereased donations and *nty lee ineome during 2023 has brought Ihè reseryes back in line with the Fdicy.
Investment powers and policy
There is no policy induded in the Artides of Asscoation preventing ￿ holding of ￿VestMents, however the (*arily
does not at the current time hold any investmènls.
struetur•Tr gov•mance and managème
The charity is ¢ontrolled by its goveming documènt. a detd of trust. aThJ constilutes a limited company. limited by
gvarantee, 8$ defined by the Companies Act 20(￿.
None of Ihe trustees has any benefiaal inlerest in the eompany. Al ol the twstees a￿ members of the company and
guarantee to contribute £1 in the event of a winding up.
The Iwstees. who are also the directors for the pu￿05¢ of ￿rnpanY and who seNed during the year and up to
the dale of signalyr¢ ofthe finanoal sl*em•nts were..
M A Faldo
N A Faldo
Appointment of trustees
As set out in the Governing document. a d1￿clornrUstee may be appomted by ordinary re50hJtion. All members who
are entitled to receive noiKe of a general meeting musl be given not less than fourteen nor more than Ihirty-five
days, clear nOt￿e of any resolution to be pui to Ihe Tr￿tir￿J to apw'nt a d￿eCtor other thw a director who is to ￿tire
by rotation.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Organisational structure
The Charity operales the Faldo Series and all tl's golf evenls. On a day to day basis, one full time mernber of Staff is
employed to operate the Faldo Series. M Faldo is employed as Chief Exe0Jli￿ Officer and is responsible for the
strategic policy and decision making of the Charity. In terms of support staff. C Swain, Finance Manager of the
Faldo Group cornpanies also works with M Faldo in au the administratNe duts'es needed to run the Faldo Seri¥s arKI
recharge ol this ¢osl 15 re￿9Th1$¢d by the Charity.
Related parti¢$
The Faldo Trust for TL%norrow's Champions (Asia) Limited. Nid¢ Faldo Design (Overseas) Limrted, Nick Faldo
(Internationall Limited. Nick Faldo Enlefprises, Faldo Academies Limrted, Faldo Enterprises US and The Faldo Trusl
for Tomorrow's c.hampions US a￿ related parties as a resum of their common control.
Sir N A Faldo is also a direclor ol Ni¢k Faldo Design (Overseas} Limited and Nick Faldo Ilnternationall Limited.
Ouring the year M Fak80, son of Sir N A Faldo, was employed by the charity and is the Chief Executive Officer. The
Trustees saw this as an arms. length transaction.
Ri$k management
The Trustees are aware ol the requKemenl lo idenlify the major risks lo whith the tharity is exposed and to .
establish systems to mitigate ihose risks. An appraisal has been undertaken and will continue to b¢ reviewed on an
annual basis.
Small companies exÈmptlon
This report has been prepared in accordance wth the provisions applicable to companies enlrtled to the small
companies exemption.
The Irustees, report was approved by the Board of Tmslees.
MAFald
Trusteè
Date.. ...

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
The Iruslees. who arè also ihe diredors of The Faklo Trust for Tomorrnrfs Champions for Ihe purpose of eompany
law. are responsible for preparing the Trusteès. Report ar￿ Ihe financaal slalements in accordartce with 8pplicable
law and United KingdoMAC￿unI1nQ Stsndards (United lQ"ngdom GonetaltyAc£epledA¢¢ounling Pra¢ticel.
Company Law requires the trustees to Pfepare financial statements for each financ4al year which give a true and fair
view ol the slate of affairs of the chanty and of Ihe incoming resources and application of resources, including the
income and eXpendrtu￿, of the chaiitable company.for that year.
In preparing these finarKial statements. the irustees are requwed to=
- 8elecl suitable aCCo￿ling po￿￿e$ and then apply Ihem o)nsislenlty"
- obseNe Ihe mett)od$ and prin(i￿&S in the Charities SORP..
- make judgements and estimates ihat are reasonable and wudent,.
p￿pare Ihe financral statements on the going concem basis unkss it is inappropriate lo presume that the ¢hathy
will continue in operation.
The trustees are responsible for keeFxng adequate accounling rec￿￿$ that disdose with reasonable acojracy at
any time Ihe finanual position of the charity and enable Ihem to ensure that ihe finanoal statements ctsrnpty with the
Companies Act 2006. They are also responsible for safeguarding the assets of Ihe tharity and hence for taking
reasonable steps for the pTeventw and delethn of fraud and other irre9ularth$.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FALDO TRUST FOR TOMORROWS CHAMPIONS
I report lo the tru*es on my examination of the finanaal statements ofThe Faldo Trust for TomorroWs Champions
Ilhe charity) for the year ended 31 December 2022.
Responslbilities and basi5 of report
As the trustees of Ihe chanty land a150 ils directors for Ihe purposes ol company lawl you are responsible for the
p￿paratIOn ol the financial statements in accordance ￿th the requirements of the CompanTes Act 2C(6 (the 2006
Having salisfied myself thal the finawal statements of the ¢harity are not req￿red to be a￿lIted under Part 16 01
the 2006 Act and are elKJibk fof independent examination. l ￿port in respect of my exarnination of the charity's
riTrancial statements carried OLrt under section 145 of the Chariiies Act 2011 {the 2011 Act}. In carrying out my
examination I have followed all the appl￿ble Directpjns 9iven by the Charity Commiss*)n under section 14515llbl
of the 2011 Acl.
Independent examinerfs ststement
I have compleled my examination. I ￿nfim7 th81 no matters have tt)me to my attènt*)n bn connectvjn with the
examination giving me cause to believe that in any material respect=
acwunting re￿rdS were not kept in respect ot the charity a5 requ￿e￿ ty sectfv￿ 386 of the 20C6 A¢t," or"
the finan¢ial statements do not a￿ord with Ihose records.. or
Ihe financaal slalements do not cornply wilh the ac¢ountin9 fequirements ol section 396 of the 2C￿ Act other
Ihan any ￿qUIrèMenI that the a¢￿unts give a true and fair Mew which is nol a matter considered as part of an
independent examination., or
the financial ststernenis have not be￿ prepared in aeeordan¢è with the methods and principles of the
Statement of Re¢ommended Practice for accouniing and reporting by chanlies applicable to charrties
preparing their accLJunts in accordance wlh the Finwcial Rewb"ng Standard applicable in the UK and
Repub11c of Ireland (FRS 102).
I have no concerns and have come across no other malters in ci>nnec*on with the examination to which attention
should be drawn in this report in order to enable a proper understan¢Jing of the financial slalements to be re8chÈd.
Candice Beynon FCCA
Haines Watts
Chartered A￿U￿tants
Biidge HcHJse
Ashley Road
Hale
Ajtrincham
WA14 2UT
Oaled".

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestrlcted Unrestricted .'
fvnds
lund$
2022
2021
Income from:
Donations and ￿3)eS
Charitable activities
Inveslmenls
127,417
95.263
29
125,000
83,751
Total Incom¢
222,709
208,752
enditure on.
Charitable activities
240.295
238.036
Nèt expendituffj for the yèarl
Not.oirtgoing re$our¢es
117,5861
129,2841.
Other recognised gains and losses
Other gains or losse5
11
12.672)
Nèt'movement in funds
120.2581
129,2821..
Fund balances al 1 January 2022
11,CE9
40,351
Fund balances at 31 December 2022
19.189}
11.069
The statement of finanaal aclivities Ir￿￿deS all gains artd kjsses retsjgntsed in the year.
All income and expendilure derive from ¢ontinuing a¢tNiti"e$:
The statement of financial ath"vit*s also complies wih the requinnents for an income and expenditure accounl ".
under the Companies Aci 2006.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
BALANCE SHEET
AS AT 31 DECEMBER 2022
2022
2021
Notes
Flxed assets
Tangible assets
12
8,2n
Currnnt 4$sets
Debtors
Cash at bank arKI in hand
13
108.120
6,355
91,935
329
114.475
92.264
Creditors: amounts falllng due within
one year
1S
1104.436)
(43.6951
Nel vjrrent assets
10.039
48,569
Tatsl a$sets less ¢iirrent liabilitie$
18,311
48,569
.Creditors'. amounts falling due •ftèr
more than one year
16
127.500)
(37.500)
Net Iliabllltiesllassets
19,189}
11.069
Income (unql$
Unrestricted lund5
(9.1891
11.069
19,189)
11,069
The cornpany is enlilled to the exemplion from the audrt requirement ¢ontatrhed in sedion 477 of the Companies Act
2(K)6. for Ihe year ended 31 December 2022.
The: dife¢tors aCknoW￿d9* their ￿SponSIbl11t[eS for complying with the requirements of the Companies Act 20C6
with resped lo a￿O￿nting records and Ihe p￿paration of financial statements.
The members have nol required the company to oblain an audit of its finanaal staleffenls for the year in quesb.on in
accordance vAth section 476.
These financial statements have been prepared in a¢oydance wrth the prom$￿)n5 applublÈ to Companies sut4ect
lo the small companies regime.
The financial stalements were approved by the Tn￿lee5 on .
MA Faldo
Trustee
Company reglstr•tion numlxr 03295676

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policl
Charity inforrnation
The Faldo Trust for Tomorrovls Champions is a private compary Iwmited by guarantee tr￿fpOrated in England
and Vwdles. The registered office is 20 Market Street, Alirintham. WA14 1PF.
1.1 Accounting con¥ention
The fjnancial statements have bÈen p￿pare¢l in accordance wrth Ihe tharWs Igoveming documentl, the
Companies Act 20C6. FRS 102 -The Fsnaneial Reporting Standard appluble in the UK and Republic of
Ireland. C'FRS 102.1 and the Charities SORP 'Accounting and Reporting by Charilies.. Statement of
Recornrnended Pract￿e appliCa￿e to charities Preparing their accnunts in a(wdance wilh the Finaniial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" {effecaive 1 January 20191. The
¢*arity is a Public Benefrt Entity as defined by FRS 102.
The charity has taken advantage of the pfo¥ision5 in the SORP for charitie5 I￿1 to prepare a Statement of .'
Cash Flows.
The financial statemerrts are prepared in sterfing, whith ts the IvThXional currency of Ihe charty. Monetsry
amounts in these financial statements ale rounded to the nea￿st £.
The financial statements have been wepared under the historical cost ujnvenlion. The principal ac￿ntIng
. policjes adopted are sel out bekjw.
1."2 Going coneem
Al the tirne of approving the financial staiements. the tnjslees have a reasonable expeLXalion that the charity
has adequate resources to ￿ntinue in operab.onal existÈn￿ loi the f￿eSee3b1e future. Thvs the trustees
ctsnlinue to adopt the goin9 ¢oncem basis of a￿)unting in preparing the financial statements.
Despile the funds being in deficit at the balanc£ sheet date. the tharty 1$ rA)nside￿d a going Con￿rn given rts
performance in 2023 thus far. There has been an inerÈ3sed enty fee income in 2023 already compared to last
year. due to the level of events inueasing and in the introduclion ol the Elite Series. Whilst the specific
donation lomi the R8A is decreasing in 2023. there is an intro(JuctKJrh of £75.O¢X) in ad*YIts"onal donations frorn
the European l DP World Tour for ifs involvement with Ihe British Masters. This is a five year agreement. so
provides some slabilily. Alor*Jstde thts, on the expenditure front, cuts have been made with regards to salaries
and processes have been redesigned lo become more eificient. Consullanls are used on a needs musl basis
and Ihere i5 a much more stringent expenses reclaim procedure in place for 2023, in order to control cnsts.
1.3 . Charltable funds
Unreslrided funds are avalable ts use at the discretion of Ihe twstees in furthèrance of their charitable
ot>jèth"ves.
Restricted funds are Subject to speofic condition5 by donors a5 to how they may ￿ used. Th¥ puTpose$ and
use5 of Ihe restrided fvnds are set oul in the noles to the finanaal stslements.
Endowment fvnds are subject to sperific c(rf￿1tKjnS by doww that Ihe capital mu51 bè m•ntained by the
harily.
1.4 Income.
Income is recognised when the thaiity is legally enlilled io it after any Perf￿nan￿ conditions hove been met,
the amounts can be measured reliably. and it is prOba￿e that incoffe wll be receNed.
Cash donations are recognised on receipt. Other donations are recognised On￿ the chanty ha5 been notified
of the donaiKJn, unless perfomiance conditions require deferral of the amounl. Income tax recxiverable in
lalK*n to donations received under GiftAid or dee(Is of covenant is rewni5ed al the timè of the donation.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting polici•$
IC¢ntlnugdl
Legacies are recogntsed on receipl or otherwise il Ihe charity has been nOtif￿d of an impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the ￿ga￿ is treated as a
ntingent asset.
1."$ Expenditure
Expenditure is recognised once Ihere is a legal or constructNe obligation lo transfer economic benefit to a
third party. it is probable that a transler ol economic benefits will be required in settlement, and the amount of
the obl￿atIon can be measured reliab￿.
Expendrture is dassffied by actiwty. The costs of Èach art made up of the totsl of direct costs and
shared cost5. including support costs invotved tn underfaking each activrfy. Oired c0515 attributable to a single
activity are allocated direclly to that aclmty. Shared costs whth conlribute lo more than one aclivity and
support costs which are not attributable lo a single activity are apportioned be￿een those activities on a basis
consislont with the use of resources_ Central staff ￿$t$ are allo¢ated on the basis of time spent, and
depreciation charges are alocatèd on Ihe portion of the assel's use.
Resources expended are accytunted for when paid. Expendrfure is attnbufed to cost calegories based on the
mount expended during the year. The ￿ecOve13ble elerneni of VAT is included with the item of expenses to
which il rel3les.
Svpport C051s are Ihose lun¢b"on$ thal assi51 the wryk of Ihe ¢harty but do not diredty undertake charilable
¥ctiwlie5. Support Costs indu¢Je office costs. finance. personnel. payroll and governance costs which support
the charitys actmties. Thè basès on thd) support cosls have been allocated are set OLrt in note 7.
1.6 Tan9ible fixed as$ets
Tangible fixed assets are initially measured al cost and sub5equefiUy measLKed al t>)st or valuabon. net of
depreciation and any impairment losse5.
Oepreuation is recognised so as to write off Ihe CO￿ or valuation of assets less their ￿SIdUal values over their
useful lives on the fdlowing base5-.
Computers & equipment
33% slraighl line
The gain or ksss ari&n9 on the disposal of an asset is delermined as the difference be￿een the sale pTo¢eeds
and Ihe Carrying value of Ihe assel. and i8 recognised in the slatement offinanryal a¢tMtE$.
1.7 Impairment of fixed a¥$ets
Al each reporting end dale, the tharity reviews the tsrrying amounts of its tangible assets lo determine
whether there is any irhdication that those a5sels have sulfered an impaiment loss. If any such indication
exists, the rec4)verabJe amount ol the assel Trs eslimaled in ordèr to detemin& the extent of the impairment
1055 lif any).
1.8 Cash and cash equNalents
Cash and cash eouNalent5 indude cash in hand. der￿t$ tr*ld al Call wrfh banks, other short-le¥m liquid
investments with original maturities of ihree rnonth$ or kss. and bank ¢)verdrafts. Bank overdrafts are shown
within borrowngs in current fiabilib"es.
10-

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
A¢¢ountlng polleies
IContinu•dl
1.9 ' Flnancial Instrumènts
The charity has elected to ap￿Y the woviwon$ of Sedp)n 11 '8a$ic Finanoal Instruments. and Section 12 .'
'Other Financial Instruments Issues. of FRS 102 to all ol it$ finwal instruments.
Fin3n¢ial instruments are recognised in the thaniys baLartt sheet when the charity be￿rneS party lo the .
eonlr8ciual provisions of the instrument.
Fina￿[al 85sets and liabililies are offset. with the nef amounts presented in the financial slalemenls, when
there 13 a legally enforceable righl to sel off Ihe re¢ognised amounts and U*re is an intenth.on to settle on a net
basis or lo realise the 8$sel and settle the knabihty simvllaneou$ly.
Basic finanelalass•ts
Basic financial assets, which indude debtors and cash and bank balances. are inibally measured al
transaction price induding transaction costs and are subsequenty carrièd at amts￿.$ed ￿s1 using thè effective
inlerest method unle55 the arrangement consb"tute5 a finanring transa¢tion. where the transaction is
measured at the present value ol the lulure receipts discounte(l at a market rate of interest. Financial a5Sèt$
dassified as receivable wthin one year are not amortised.
Basi¢ lin•n¢ial lialJil•ties
Basic financial liabilities. induding creditors and bank loans are inibalty recognised al transacb.on price unless
the arrangement ¢onstitutes a financing transaction. where the debt instrument is me¥surÈd at the present
value of the future payments diso)unted at a market rate of inle￿St. Financial liabilities dassffied as payable
within onè year are rwt amortised.
Debt instruments are subsequenlty carried at amoitsed cost, using the effeclrve inlerest rate method.
Trade ueditors are obligations to pay for goods or seryice5 thai have been acquired in the ordinary course of
operations from suppliers. Amounts payable are dassrf*d as curient l¥abilities if payment is due wthin one
year or less. If not, Ihey arè presented as non-current liabilities. Trade creditors are reo)gnised initially at
transaction price and subsequenlty measured at am0￿sed cost using the effedive intere51 method.
Derecognitlon of financlalliTabilitles
Fin8naal liabililJ"es a￿ derecognised when the ¢harity's' ts)ntr*iual obhgations expire or are discharged or
Cancelled.
1.10 Employee benefits
The ¢ost of any unused Widay enliuemenl is recognised in the peric*l in which the employee's semces a￿ ..
received.
Termination benefits afe recognised immediately as an expense when the charty is demonstrably (x)mmitte
to temiinale Ihe employment of an employee or to prowde term￿at1)n beneffts.
1.11 Retlrement benefits
Payments to deffined ContribulK￿ retiremeni b￿effi1 scheft￿S arè tharged as an expense as they fall due.
11

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Critl¢al accountirbg estimates and judgements
In the applicalion of the charl￿$ accounting kM)liaes, the Iruslees are required lo make judgements. estirnale5
and assumptions about the carrying amounl ol assels and liabilities that are nol ￿adity apparent from other
sources. The estimates and associated as5umpti.ons are based on historical experience and other fac4ors that
arè consKlered to be rèlevant. Aclual results may differ from these estsmales.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounling
estimates are recngnised in the period in whtth the esb.mafe is ￿￿Sed where Ihe revision affects only that
period. or in the period of the revision and lulure periods whwe the revision affe¢ts both Current and future
periods.
Oonations and legacies
Unre$tricted Unrestrirtrd
lunds
funds
2022
2021
Donations
127.417
125,CK)O
Charftabl• actlvlttes
Unwestri¢wd
funds
20Z2
Total
2022
Unrnstrlctsd
fyn
Z02f
2021
Evenl Sponsorship ino)me
Event entry fees
Governrn￿t grants.
26.087
69,176
26,087
69.176
13,039
60.712
10.(K(J
13,039
80.712
10.NJO
95.263
95.263
83,751
83,751
Investmer
Unrestrlcted Un￿striCted
funds
funds
2022
2021
Inleresl receivable
29
12.

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Charltable aeti¥iti•s
2022
2021
Staff Costs
Depreciation
Rent, rates and in5urarLr
Light and heal
Telephone
Postage and stalh)nery
Adverbsing
Tournament costs
Mainten8n¢È
Travel and entertaining
Bank loan intÈresl
IT and sothyare costs
Legal fees
Consultancy fees
Bank charges
Exceptional items
71,148
793
3.390
45,956 .
3,439
15,503
310
1,576_
1,283
2.093
150.384
504.
4,302
312
1.829
1.954
79,844
39.415
1,096
2,328
63
12,114
3.621
17,540
1.974
235,135
227,636 .
Share of govemance costs (see note 7)
5.160
10,4LKt
240,295
238.036 '
Support eosts
Govemance
costs
2022 Governance
¢osts
2021Ba$is of allocation
Accounlancy, book-
keeping & independent
examinatson
5,160
5.160
10,400
10.400
5,160
5.160
10.400
10,400
Tru$t¢es
A Faldo, a truslee, receNed remuneration from the charity of £40,(KXJ 12021.. £8,867). The charity made
pension payments under a defined contribulion scheme for M A Faldo of £1.431 12021.. £5391.
No trustee expenses were PaKI during the year12021'. £nil).
13-

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Employees
The average monlhty number of emF4oyees durirrfJ the year was:
2022
Numbèr
2021
Number
Employment costs
2022
2021
Wages and salaries
Soaal security Costs
Other pension ￿SIS
62.229
6,961
1,958
42,562
2.855
539
71,148
45,956
There were rso employees whose annual remuneralion was rn0￿ than £60.f￿.
10 Taxatlon
The charity is exempl Irom lax on In¢G￿ and g*ns falling 7*rithin sedion 505 of the Taxes Act 1988 or section
252 01 th& Taxatignol Chargeabb Gasn$Acl 1992 to th¢ extent that these are applied to its thantable obJ"ects.
11 Other gains or losses
Unrestri¢tsd Unrestrieted '.
funds
nd5
2022
2021
Foreign exchange Igains) I losses
2.672
12)..
14-

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
12 T•nglbl¢ fixod •$$¢ts
L•nd a￿1
Plant arKI FtKture5 •nd Computèt5 4
bulkling5 qulpmA
ffittln05
equipmAnt
Cost
At 1 January 2022
Addit¢ons
15,497
822
29,970
8.058
8,406
1,007
54,695
9,065
At 31 Oecember 2022
15.497
822
38.028
9.413
63,760 .
Deprèclatlon and impalmi¢nt
At 1 January 2022
Depreciation Charg￿ in the year
15,497
822
29,970
8.406
793
54.695
793
At 31 December 2022
15,497
822
29.970
9.199
55.486 .
Carying amount
Al 31 0e¢ember 2022
8.058
214
8,272
13 . Debto
2022
2021
Amounts falling due within oft• y•ar.
Trade debtors
Amounts owed by a$so¢iate underto￿ng5
Other debiors
Prepayments and accrued income
49,270
41,833
1.197
54,101
13.345
23,292
17,017
108,120
91.935
14 Loans and overdrnfts
2022
20Z1
Bank overdrafts
Bank loafts
153
47,SC¥)
37,5C
37.SC*J
47,653
Payable within year
Payable aftei one year
10,OC4)
27,5C4J
10,153
37,5CQ .'
15-

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
15 Creditors: amounts falling due t*lthln one year
2022
2021
Bank loans and overdiafts
Other tsxation and wial sttuiity
Trade creditors
Amounts owed to associate undertakn'ngs
Other creditor5
Accruals and deferw incwne
14
10,000
559
11,647
75.993
773
10,153
814
6.799 ',
25,706 .'
220
104.436
43,695
16 Créditors: amounts fallin9 due after more than one year
2022
2021
Notes
Bank loans
14
27.￿K)
37.500 .
16-

THE FALDO TRUST FOR TOMORROWS CHAMPIONS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
17 . Relatsd party transac￿OnS
The Faldo Trust for Tomorrow's Champions operates from Ihe head offi￿5 of Faklo Enterprises. Shai¢d offic¢
sts a￿ rethargod to the Charity on a quarterty basis. The costs are apportioned based on the number of
stsff and office space used by the Trust.
During the year Sir N A Faldo. a Trustee. provmjed his 5upfA*t. and a$ a gow prolèssM)nal. adwee to events
held by the 2022 Faldo SÈries. During thÈ.yÈar a b8￿r￿é of £850 owed by Sw N A Faldo to The Faldo Twst
for Tomorrows Champions. was written off to exceptional items.
M Faldo, son of Sir N A Faldo. is a ful time employee of the Trust and Trustee. His fo￿ is Series Executive. a
role lor which he is remunerated for.
Nick Faldo Enterprises is a sole trader, the propriet￿ being Sir N A Faldo, a Truslee. At the balance sheet
dale, £41.83312021.' £43,1￿5) was owed by Ihe enlj.ty to The Faldo Trust for Tomorrow's Ch8rnpions.
Faldo AcademTes Limilet1 was a company under ¢xJmmon control_ Al the balance sheel date, no balance was
outstanding12021". £3.315 was owed by thè company to The Faldo Trust for Tomorro￿$ Championsl. During
the year. £3,315 was wrilten off to exceptbonal items.
Faldo Marketing Inc is a company under control. Al the balance sheet datè, no balance was outstan(Jing
12021.. £6,936 was owed by the company lo The Faldo Trust for Tomorrows Charnpitsnsl. During the yèar.
£6.936 was wrilten off to exceptsonal items.
Faldo Trust US 1$ a company undèr common control. Al the balance sheet date, no balance was outstanding
12021". £785 wa$ ¢Jved by the Company to The Faldo Trust for Tom¢Nrow's Champions).
Nick Faldo Design (Overseas) Limited is a company under comrnon control_ At Ihe balance sheèt dale, £1.734
{2021'. £19.4931 was owed lo the company from The Faldo Trust for Tomorrovls Champions. During the year.
£5.004 was written off to exceptional items. reijuong Ihe balance tswed to the 0￿pany.
The Faldo Trust For Tomorrow's Champions (Asia) Ltd Icornpany limited by guarantee in Hong Kongl is a
company under common CLJnlrol. At Ihe balance sheet date. £40.617 12021". £6,213) was owed to the
company from The Faldo Trust for Tomorrows Champion5.
Faldo Enterprises US is a (x)mpany under comnw)n control. Al the balance sheet dale, £33,64312021." £ni
was owing lo the company from The Fak10 Trust for Tomorrthrfs Champions.
17-