2025-05-31-accounts

WEST HAM FOUNDATION

WEST HAM UNITED FOUNDATION

(A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

Charity registration number 1114458

Company registration number 05731045 (England and Wales)

WEST HAM UNITED FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Andrew Mollett (Chair)
	Marie Gabriel
	Jeremy Crook
	Henri Brandman
	Jackie Ferdinand
	Jeffrey Hayes
	Isaac Borquaye	(Appointed 23 May 2025)
	Fatima Jollah	(Appointed 28 November
		2024)
	Emaan Zia	(Appointed 28 November
		2024)
Chief Executive	Joseph Lyons
Secretary	Andrew Mollett
Charity number	1114458
Company number	05731045
Registered office	60aAlbatross Close
	Beckton
	London
	E6 5NX
Auditor	F Winter&Co LLP
	Statutory Auditors & Chartered	Accountants
	Ramillies House
	2 Ramillies Street
	London
	W1F 7LN
Bankers	Barclays Bank
	1 Churchill Place
	London
	E145HP

WEST HAM UNITED FOUNDATION

CONTENTS

	Page
Trustees report	1-14
Staetement ofTrustees’ responsibilities	15
Independent auditor's report	16-19
Statement of financial activities	20
Balance sheet	21
Statement of cash flows	22
Notestothefinancialstatements	23-37

WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MAY 2025

We, the Trustees, are pleased to present the annual Trustees’ Report and the consolidated financial statements of the Charity and its subsidiary for the year ended 31 May 2025, which have been prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. These financial statements comply with West Ham United Foundation's governing document, and the Companies Act 2006 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities

The company's memorandum of association defines its objects as being for the benefit of the public generally and, in particular, the inhabitants of London and its surrounding areas:

1. to promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health (facilities in Article 3 means land, buildings, equipment and organising sporting activities).

2. to provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or 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.

3. to advance the education of children and young people through such means as the Trustees think fit in accordance with the law of charity.

Vision

As the outreach vehicle of West Ham United Football Club, the Foundation's vision is to harness the power of football to maximise life chances and inspire better future for all.

Mission

To provide an innovative approach to understanding and meeting the needs of our community; building partnerships and utilising insight and technology to create an environment where all can thrive - from the heart of east London. The Foundation will work to achieve the following targets:

• Providing Opportunities

• Creating Pathways

• Changing Lives

Strategic Objectives

• e Responding to local need - Engaging our community to understand local needs and to ensure that our programmes, facilities and reporting structures are designed around them.

• e Uniting our community - Understanding our community, what works and how innovative thinking across our stakeholders is essential to support fitter and healthier lifestyle choices.

• e Providing an environment for all to thrive - Shaping the programmes we run and our ways of working to create effective, efficient and innovative mechanisms that support anyone in need of help for as long as they need it.

The company's constitution is set out in its articles of association published on incorporation and as subsequently modified. This document defines the terms of reference for the board of Trustees and the company's corporate governance procedures.

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Directors and Trustees

The Trustees, who are also directors for the purposes of company law, who held office during the year and since the year end, are as follows:

• « Andrew Mollett (Chair) « Marie Gabriel e Jeremy Crook ¢ Henri Brandman « Jackie Ferdinand « Jeffrey Hayes « Isaac Borquaye ¢ Fatima Jollah « Emaan Zia

The board of Trustees meets periodically and receives reports from operational staff and determines strategy and policy for the company.

The board of Trustees has an ongoing commitment to assess the skill set required at board level and, as the company develops, to ensure that, where necessary, additional Trustees are recruited.

Relationship with West Ham United Football Club Limited

The company delivers all community sports and charitable activities on behalf of West Ham United Football Club Limited. However, it operates independently of the football club and, although some of the company's Trustees are also employees of the football club, this is balanced by the presence of independent Trustees on the board and the articles of association confer no ability by the club to exercise control over the company.

The terms of the relationship between the company and the football club are codified in a Service Level Agreement. This agreement enshrines the practices already being observed in terms of the provision of services by the football club to the company at no cost to the company. A separate licence agreement grants the company a right of occupancy, of the Club's wholly owned freehold premises at 60a Albatross Close, Woolwich Manor Way, London E6 5NX. As indicated in note 19 to the financial statement the charity entered a new twenty five year lease on 28 May 2024 with an anticipated minimum annual rent of £25,000.

We have referred to guidance contained in the Charity Commission and complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Embracing fully the spirit of West Ham United, the Club and Foundation work closely together and the Foundation endeavours to be a force for social good; being a welcoming and safe space for all, inspiring others and addressing a range of issues facing society.

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WEST HAM UNITED FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Achievements and performance

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

Achievements and performance

As a community-focused football club, the West Ham United Foundation remains dedicated to harnessing the influence of our club and the power of the West Ham United badge to educate, motivate, and inspire individuals and groups across our community. We continue to act in the best interests of the people we serve, striving to create positive and lasting change amid an evolving social landscape. Our work addresses long-standing inequalities while responding to new challenges arising from the pandemic and the current economic and social environment.

Activity

With more than 35 impactful projects, the Foundation supports over 50,000 people of all ages and abilities across five key areas: Education, Employability, Football Development, Health and Youth & Community.

A Landmark Year: Building for the Future

One of the Foundation’s most transformative developments is The Foundry — a new £5 million community headquarters in Beckton, Newham. Opened in October 2025, this purpose-built hub draws inspiration from Thames Ironworks FC, West Ham United’s original identity. Its mission: to forge stronger futures by creating opportunity, delivering life skills, and changing lives.

The Foundry will serve as an inspirational, safe, and inclusive space for people of all ages, expanding the Foundation’s reach and enhancing the quality of services offered across the region

Beyond The Foundry, the Foundation’s presence continues to progress through a network of established satellite sites. These community bases have cemented key partnerships, expanded access to opportunity, and fostered innovative collaborations that amplify the Foundation’s impact across local communities.

Rising to Meet Complex Challenges

Across the communities served, entrenched inequality, health disparities, educational gaps, and rising youth violence present real and urgent challenges. Yet there is also immense potential — in the energy of young people, the strength of families, and the dedication of local partners.

In response, the Foundation has deepened its role as an anchor organisation, launching new satellite sites, partnerships, and targeted interventions. Collaborations with the Metropolitan Police, the Premier League, the Old Bailey, Institute for Healthcare Improvement, and other frontline services have strengthened initiatives focused on prevention, intervention, and positive pathways.

New programmes such as Hammers for Hope and the New Path Project use data-led, place-based approaches to break down barriers and support personal development.

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Measurable Impact

Independent evaluations conducted by programme funders during the 2024/25 period have reaffirmed the Foundation’s significant positive impact, demonstrating:

• Increased levels of confidence, health, and wellbeing among participants

• Clear and sustained pathways into education, training, and employment

Following Futureproof CIC’s impact report on the 23/24 season, which evidenced that the Foundation generated £33 million in social value, continued development of services and the opening of the new community hub are expected to drive this figure even higher.

The same report also projected that the new hub alone would contribute an additional £75 million in social value over its first five years of operation — further amplifying the Foundation’s ability to create impact, strengthen community connections, and expand opportunities through its life-changing work.

Sport as a Catalyst for Growth

The Foundation continues to expand pathways on and off the pitch. There has been significant growth, particularly across female football, with more programmes and opportunities enabling girls and women to engage at every level of the game.

This includes the advancement of the Foundation’s Player Pathway Programme, which supports young people to develop football and life skills. The programme now comprises three tiers for boys and four for girls, engaging around 500 young people each week, with an even 50:50 gender balance.

Looking Ahead

Guided by the values of resilience, pride, and diversity, the West Ham United Foundation remains steadfast in its mission to stand alongside individuals at every stage of their journey — delivering meaningful and lasting change through the power of sport, education, and community.

The official launch of The Foundry in the 25/26 season will be a defining milestone in this journey. The new community hub will nearly triple the size of the Foundation’s space, introducing dedicated zones focused on education, enterprise, mentoring, and health and wellbeing.

A key addition is E6 Kitchen, a new social kitchen created in partnership with Beyond Food. Operating on a costplus model, all proceeds are reinvested into the Foundation to support free meals for local people in need — ensuring that every plate served helps sustain the mission to empower the community.

Through continued collaboration with partners, funders, and local stakeholders, the Foundation will build on its proven track record of delivering measurable social value — inspiring better futures, and creating a legacy of hope, opportunity, and belonging for generations to come.

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Activity Examples

An overview of some current services with details from this season’s delivery can be found below:

Advantage

Advantage is a mentoring programme for young people aged 14-21 who have been referred to Child and Adolescent Mental Health Services (CAMHS) and don't meet threshold or do not want to engage with CAMHS. It focuses on supporting young people with key interventions and assistance to help them re- establish aspirations and a sense of connection. Current contract concluded March 2025.

The Advantage initiative in North East London is delivered in partnership between West Ham United Foundation (Barking & Dagenham, Newham, Havering, Tower Hamlets), Arsenal in the Community (Hackney), Leyton Orient Trust (Redbridge, Waltham Forest) and East London NHS Foundation Trust and Northeast London NHS Foundation Trust. Referrals into the programme come via: NHS, Mac Panel (Newham), PG referrals (via internal programmes and Advantage website), Schools

Participants receive weekly individual mentoring support from a trained youth worker, who is in turn supported by CAMHS practitioners.

• ¢ Total number of young people engaged in this period: 51

• ¢ Significant number of participants engaged are from ethnic diverse backgrounds; 68% of participants being people of colour vs 46% within local population.

• « 29% of participants were from the 20% more deprived areas, supporting our ambition to contribute towards the NHS wider efforts towards Core20+5.

• ¢ WHO-5 Wellbeing Score: 70% of young people reporting a 3-point progress towards their goal.

« 100% of young people have made progress towards their primary goal.

Football Literacy Club

Through the Football Literacy Club we aim to develop young people’s literacy skills through reading, writing, and oracy interventions whilst promoting reading and writing for pleasure amongst pupils who demonstrate a reluctance to read. We provide partner secondary schools with an engaging curriculum that can be delivered to groups of pupils weekly throughout the year. We have a 36 week programme which covers reading, writing, and oracy interventions.

Targeting young people aged 11-15 who either have reading ages below their chronological age, who are struggling to access the curriculum due to low literacy levels or possess an apathy towards reading and writing.

90+ participants engaged with 300+ contact hours delivered from 4 partner schools.

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WEST HAM UNITED FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Higher Education

In collaboration with the University of East London we deliver the exciting degree programme, BSc Sports Coaching and Performance. Our programme aims to support Undergraduate degree students into careers in sport, in a range of disciplines, including coaching, performance analysis, strength and conditioning and sports psychology.

• e 95 students enrolled across three levels.

• « Community Outreach: Over 700 students and children from FE backgrounds and primary/secondary schools engaged through programme outreach initiatives.

• Partnerships: 36 sporting organisations connected, providing students with a wide range of potential employers.

• « Case Study : Mollie, aged 20, is a third-year university student who works part-time with WHUF alongside her studies. She has supported WHUW matchdays and contributed to the female football pathway, working closely with the U16 Women’s Youth Team to deliver strength and conditioning (S&C) support. She aspires to become a strength and conditioning coach at an elite level. She credits her experience with WHUF as transformational, saying it has “changed my life and shaped my career through a specific lens.” She describes the environment as overwhelmingly positive and one that feels like home — an experience that has not only developed her professionally but also helped her grow personally.

Moore Family Foundation

MFF works specifically with young people aged 11-16 outside mainstream education, providing them with unique opportunities to enrich their life experiences and prospects. We provide participants with the chance to gain additional qualifications to increase their options when they leave school and assign them with a mentor who will create a personal development plan for all participants. We work with low numbers of young people intensively.

Project runs throughout the academic year Monday-Friday 9am-3pm at partner schools and at University of East London Tuesday, Wednesday and Thursday 10am-12:30pm.

Moore Family Foundation expanded to work with 3 key partners located in Tower Hamlets, Newham, and Havering with provision 4/5 days per week.

• « Engaged 47 participants weekly from 4 Alternative Provisions.

• ¢ 11 participants completed their Level 1 Sports Leadership Qualification

• « 2 participants completed their Level 1 Business Administration Qualification

• e 2 participants completed their FA Playmaker course.

• « One young person was awarded with the Rising Star Award

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

MyEnds

Funded through the Violence Reduction Unit (VRU), which is part of the Mayor's office, WHUF leads the consortium of 5 community organisations in Barking & Dagenham. The project aims to support Children & Young People (CYP) affected by violence and includes four key strands:

• ¢ Delivery of primary, secondary and tertiary interventions that includes positive youth activities, outreach and targeted mentoring.

• e Promote community cohesion through partnerships & networks.

• ¢ Youth voice.

• « Micro-grants supporting grass-roots organisations.

During Year 1

• ¢ Handed out £24k worth of micro-grants for local grassroots organisations.

• « Engaged with 863 across project activities.

• ¢ Established services 6 days/week, that include; Football, Basketball, Roller-Skating, 1-2-1 Mentoring, Boxing, Detached and Outreach.

Premier Leaque Inspires

Uses the power of football to inspire young people aged 11-18 at risk of not reaching their potential, to develop the personal skills and positive attitudes needed to succeed in life. WHUF work with a range of mainstream schools and alternative provision to inspire participants through regular face-to-face group sessions, mentoring, workshops and social-action projects.

• e WHUF worked with 10 schools in 2024/25 academic year — across mainstream and alternative provision. e Engages 170 participants weekly through cohort interventions (group sessions).

• ¢ 50 participants receive individual mentoring.

• « 8 careers focused events are delivered annually.

• « 1,500 participants take part in events and takeover days.

• « 40 participants engaged in social action projects.

• e Project having a significant impact on: Behaviour & engagement in learning, Attendance, Wellbeing

• ¢ 73% of participants demonstrated more positive behaviours.

• ¢ 68% of participants have improved attendance and attainment at school.

• ¢ 84% of participants felt inspired and engaged.

PCN Mentoring

Over the past year, the PCN project has further grown and is now operating across five East London Boroughs. PCNs (Primary Care Networks) are the model of integrated healthcare across localities with the ambition to connect community and NHS services for a more holistic approach.

The project takes a public health approach to supporting at risk CYP, referred via GPs. One-to-one mentoring focuses on positive wellbeing along with a reduction in negative/violent behaviour. The Youth Mentors have been working with Young People at risk of violence affecting young people, as well as supporting those with other vulnerabilities (including bullying, mental health concerns, school engagement/risk of exclusion, Social Emotional Mental Health needs).

• e Supports those aged between 11-18 years old.

• « Mentoring consists of once-a-week sessions, for up to 60 minutes long, for around 3-6 months.

• e Sessions take place at GP Practices, Schools, WHUF/WHU sites, and other community organisations.

• « Anna Freud project report suggests the programmeis filling a gap in the provision that is currently available from statutory services, and the flexibility of the programme, both in terms of where the sessions can take place and organising the programme.

• « 75% of young people engaged in the service have reported positive changes of behaviour. Positive differences are reported relatively quickly (6-8 weeks).

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Player Pathway

Providing structured opportunities for young football players to develop both on and off the pitch. Operates across three tiers for boys and four tiers for girls, the pathway offers routes from grassroots participation to elite-level performance — all aligned with The West Ham Way.

• « Engaging with 500+ players each week across London and Essex.

• « Approx. 50:50 boys and girls.

• ¢ Supports link between Foundation and Academy: Aligned through staff CPD, coaching methodology and talent identification.

• « OurWomen’s Youth Team, now officially aligned with West Ham United Women, provides a direct pathway into the Women’s Academy U21s.

• e Genuine route for talented female players to progress into the professional game, reinforcing our commitment to equality and opportunity.

Post 16 Football & Education

The Post 16 Football & Education programme is a two-year development programme for footballers aged 16-19years who have completed Year 11 school education.

The programme offers participants four weekly training sessions plus a weekly fixture.

Alongside football training, participants also study for academic, coaching and fitness qualifications, such as Level 1-3 BTEC/NCFE sports courses, with some students even progressing into higher education, such as University and Scholarships in the USA.

We have continued to see success stories being developed from within the programme, such as students now working for the Foundation and players securing contracts within the football pyramid.

The programme has established a player pathway tiered system, meaning each player competes within their current standard.

• e Around 2500 participants through the programme since start.

• « Supports positive pathways into a range of Education, Employment, Training (EET):

• e Routes into HE

• e Playing scholarships (in USA)

• « Routes into semi-pro/pro football

Choices International Post 16 & U23 Football & Education

The Post 16 Football & Education programme is a 12-month development programme for footballers aged 16-23years.

The programme provides participants with four training sessions each week, along with a weekly fixture.

In addition to football training, they also take part in academic, coaching, and language courses and sessions.

We continue to see success stories emerge from the programme, including players being selected for international training camps and others earning contracts with clubs across Europe.

• « Around 80 participants through the programme since start.

• ¢ Supports positive pathways into a higher standard football (semi pro and professional)

• « Pathways into University

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Year 14 PT Course

This is in its first year launch and it is a part-time program combining football training with a NCFE Level 3 Diploma in Gym Instructing & Personal Training.

• « Pathways into higher education

• ¢ Scholarships in USA

• ¢ Volunteer coaching

• « Paid coaching roles

e Semi-professional and professional football

International

West Ham Foundation collaborates with partners and travel tour operators to deliver international programmes both in the UK and overseas. These offerings include international tours, coaching clinics, coach CPD, player workshops, and a range of West Ham Foundation experiences.

• e 30 x coaches working across 5 countries in 2025

• « 800 male and female international players coached at WHUF aged 7-18

• « Active partnerships in 10 countries

• « Over 5,000 male and female players aged 5-18 reached through international partnerships

Premier Leaque Kicks

Premier League Kicks is a programme which uses the reach and appeal of the Premier League and football to regularly engage children and young people of all backgrounds and abilities in football, sport and personal development opportunities.

Provision available for 8 to18-year-olds (or those aged 19 to 25-years in structured volunteering) at hub and satellite venues.

We had several external providers run workshops with our young people (Met police (stop and search/ music & podcasting/ cooking/ recycling)

Lyca mobile community programme engaged 700+ young people & coaches from across East London.

• . Engaged 1800+ young people annually. . Intelligence and information sharing with MPS Gangs Unit, Safer Neighbourhood Teams, Youth Justice Service allow WHUF to provide CYP with tailored support.

• . Kicks Jigsaw offers mentoring programme for CYP at risk of becoming involved in criminal activity and antisocial behaviour.

• . CYP said: e 94% feel they get along better with people from different backgrounds. - 82% feel they get along better with adults.

• 96% feel more positive about their future

The Training Ground

The Training Ground is a football themed Personal & Professional development programme for young people aged 16 to 25-years old from across East London. The programme provides participants with core employability skills such as: CV masterclass, job searching, job application, networking, interview skills, communication skills, professional workplace, and employer insight experience. « A structured 10-week programme delivered at the West Ham United Foundation which encourages and enables personal development and growth

• e Supporting 120+ NEET (Not in Education Employment or Training) young people aged 18-25 using personal development curriculum, physical activity, and mentoring.

• « Includes targeted referrals for YP at risk of violence. « 65% progress into EET outcomes. e 95% increased confidence.

• ¢ 78% improved physical/mental health

WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Financial review

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2024/2025|2023/2024| |£|£| |Income|3,901,150|3,206,262| |The|group’|incoming|resources|can|be|analysed|as|follows:| |Donations|811,556|402,915| |Football|Development|644,905|737,883| |Community|1,194,939|738,100| |Learning|775,789|776,986| |Trading|activities|473,961|550,378| |The|group|recorded|a|net|increase|(decrease)|in|funds|of:|56,255|(157,990)| |At the|year end|the|group|had|net|assets|of:|507,484|451,229|

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The income generated by the trading subsidiary which is responsible for services rendered to partners, clients and candidates requiring sports workshops, general consultancy services, provision of coaching, pitch booking facilities and sporting events. The Trustees are fully confident that the trading activities will maintain the charity's reserves in the future.

The board of Trustees is responsible for drawing up the accounts on a going concern basis and in doing so has considered the period for at least 12 months from the date of signing these accounts. The principal risks to the company's going concern status are twofold.

Firstly, as a relatively small company, it is dependent on a sustainable level of income from its operations. This risk is mitigated in part by the fact that an increasing proportion of its grant funding is for a period in excess of one year and therefore subject to considerable certainty, and in part by the fact that much of the company's expenditure is variable and significant cost savings could quickly be achieved in the event of a shortfall in turnover.

Secondly, although it is a separate legal entity from West Ham United Football Club Limited, the company is inevitably dependent to some extent on the status and continued operations of the football club. Moreover, to the extent necessary, the club has also undertaken to provide the company with such financial support as it may require continuing trading and to meet its debts as they fall due for a year of at least twelve months from the date of these accounts. The board of Trustees is satisfied that West Ham United Football Club Limited is in a position to provide that financial support if needed.

Consequently, after making enquiries and taking account of the uncertainties described above, the Board of Trustees has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the board of Trustees continue to adopt the going concern basis in preparing the annual report and accounts for the company.

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Reserves Policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Reserves serve the crucial function of bridging the gap between resource allocation and acquisition, as well as covering unforeseen declines in income and unexpected increases in other expenditures. The Trustees consider that the ideal reserve level for the next five years is between £200,000 - £500,000.

As at 31 May 2025 the Group's level of reserves was £507,484 (2023/2024: £451,229).

The net movement in funds of West Ham United Foundation (WHUF) as at 31 May 2025 was a surplus of £56,255, (31 May 2024: £157,990 deficit).

Following a transfer of £6,250 from general reserve, designated funds increased to £125,000 for long term maintenance of the Pitch.

The Board keeps the level of reserves under regular review to ensure that it is adequate and appropriate to meet the requirement of the organisation.

Risk Review

The Trustees have undertaken an initial assessment of the major risks to which the company is exposed, in particular those related to finances and how it operates generally.

During the year, we continued to develop strategic groups and consolidated forums to maintain a continuous evaluation of risk factors. These groups convene on a monthly basis. These groups are:

Strategic Groups (+lead)

• Operations Management (Head of Ops)

• ¢ Business Development (Director of Programmes)

• Equality Group (Head of Community Development)

• Project Managers Group (Director of Programmes)

Forums

• *Foundation Forum (chaired by CEO)

• *Training & Workforce

• ¢ Environmental Sustainability

• ¢ Staff & Wellbeing

• Youth Forum

The Group’s Finance Sub Committee is fully active, however, the entire board carries fiduciary responsibility for the organisation, the finance committee serves as a leadership role in this area, making sure appropriate internal control procedures for all financial transactions are documented. The Finance committee will ensure compliance and/or develop other policies that further serve to protect the WHUF and manage its exposure to risk.

Ways in managing this financial risk include:

• « Having detailed financial planning, policies and processes in place to ensure oversight and ongoing monitoring of the financial position with all Heads of Departments and Budget Holders.

• ¢ Detailed contract planning and financial risk analysis has been assessed within the Foundations Forum - Business Development section.

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WEST HAM UNITED FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

The Trustees meet quarterly to monitor the spending. Generally, we look at various ways to streamline costs without impacting on the delivery of the quality of services supplied, ensuring awareness and compliance of regulatory standards that impact the different activities carried out by the Group.

Grants received from Premier League programmes still form a material sum of the financial performance, the Board recognises that its financial performance would be materially affected in the event of West Ham United Football Club Limited being relegated from the Premier League with an associated reduction in the availability of funding from central resources.

In order to mitigate any loss of income careful planning and, promotional and fundraising events are being instigated. Also, the group prepares budgets three seasons in advance which include an evaluation of the impact of relegation and associated contingency plans.

Financial assets that expose the company to financial risk consist principally of cash, trade receivables and other receivables. Financial liabilities that expose the company to financial risk consist principally of trade payables and other payables. The financial risks associated with financial instruments are considered minimal.

The company is not exposed to any foreign exchange risks.

The company places its cash with creditworthy institutions. The company performs ongoing credit evaluation of its debtor's financial condition. The carrying amount of cash, trade receivables and other receivables represent the maximum credit risk that the company is exposed to.

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WEST HAM UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

Plans for future periods

2025-2026

As a charity deeply rooted in our community, we remain committed to creating an environment where everyone can thrive. The 25/26 period marks a transformative moment in this mission.

Our new £5-million, state-of-the-art community hub, named The Foundry, will be the focal point of this next chapter. Located in Beckton, Newham, the hub triples the size of our current headquarters and enable us to double weekly footfall from 2,000 to up to 4,000 people. This expanded space allows us to enhance the reach and impact of our multi-layered delivery model, strengthening existing partnerships while opening the door to new collaborations across areas of critical need.

A key priority for 2025-26 will be the rollout of an expanded programme of workshops and community learning opportunities delivered directly from the hub. These will cover a wide range of social needs, including employability, life skills, physical and mental wellbeing, digital literacy, community safety, and positive pathways for young people. The dedicated workshop spaces within the hub will enable us to host more frequent sessions, accommodate larger groups, and offer tailored support in a safe, welcoming, and modern environment.

This year will also see us welcome new groups and community organisations onto the site, creating a vibrant, shared space that brings people together. By opening our doors to local clubs, voluntary groups, youth organisations, cultural associations, and specialist support partners, the hub will become a true community anchor - encouraging collaboration, building confidence and connection, and helping residents feel at home from the moment they arrive.

We will continue to grow services that address violence affecting young people, building on our established relationship with the Mayor of London’s Violence Reduction Unit and collaborating with the Metropolitan Police, The Old Bailey, and other partners to deliver meaningful interventions and prevention programmes.

Our mental-health provision will continue to grow, with a particular focus on suicide-prevention support, following this season's charity football tournament in partnership with R;pple Suicide Prevention.

Additionally, we are exploring the introduction of a night shelter for rough sleepers, working closely with the Newham Homeless Forum to utilise our new hub and social kitchen to offer warmth, safety, and essential support. New dedicated mentoring rooms will further strengthen our one-to-one and group work, helping to break down barriers and build lasting relationships.

The year will also mark the 10-year anniversary of Any Old Irons, our social-inclusion programme for residents aged 60 and over. This milestone provides an opportunity to celebrate a decade of tackling loneliness by bringing people together through a shared passion for West Ham United.

The Foundry was formally opened in October 2025 with a major community launch event that acted as a springboard for activity throughout the year. The launch included football tournaments, community celebrations, free food initiatives for residents in need, and a dedicated home men’s matchday at London Stadium to raise awareness of the Foundation’s work, highlighting the opportunities and impact enabled by the new community hub. Collectively, these developments mark an important step forward for the Foundation. It also cements our continued dedication to delivering high-quality support that genuinely benefits our community and strengthens the relationships we value. Alongside this, we have developed a 2025-28 business strategy to guide our progress, sharpen our priorities, and ensure our resources are targeted where they can achieve the greatest impact. The Foundry will continue to serve as a welcoming centre for this work, enabling us to grow responsibly while making a positive, long-term difference.

Auditor

In accordance with the company's articles, a resolution proposing that F Winter & Co LLP be reappointed as auditor of the company will be put at a General Meeting.

=13-

WEST HAM UNITED FOUNDATION

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

Disclosure of information to auditor

In so far as the Trustees are aware at the time of approving our Trustees’ annual report:

• « there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the groups auditor is unaware, and

• « the Trustees, having made enquiries of fellow directors and the group’ s auditor that they ought to have individually taken, have each taken all steps that's he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

The Trustees’ report, including the directors' report and the strategic report, was approved by the Board of Trustees.

Fz nu Hem Andrew Mollett (Chair) Trustee

Date: woe PGA BY ZG. cece

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WEST HAM UNITED FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MAY 2025

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

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

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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

tT Hee

Andrew Mollett (Chair) Trustee

Date: sot N ID lhc

-15-

WEST HAM UNITED FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WEST HAM UNITED FOUNDATION

Opinion

We have audited the financial statements of West Ham United Foundation (the ‘charity’) for the year ended 31 May 2025 which comprise the consolidated statement of financial activities, the consolidated and parent balance sheet, the consolidated statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable group and parent's affairs as at 31 May 2025 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended;

• • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report and the strategic report prepared for the purposes of company law, is consistent with the financial statements; and

• the strategic report and the directors’ report included within the Trustees report have been prepared in accordance with applicable legal requirements.

-16-

WEST HAM UNITED FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WEST HAM UNITED FOUNDATION

Matters on which we are required to report by exception

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

• We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us

to report to you if in our opinion;

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company's financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of Trustees

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

Auditor's responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulation. We design procedures in line with our responsibilities outlined above, to detect material misstatements in respect of irregularities, including fraud.

wT =

WEST HAM UNITED FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WEST HAM UNITED FOUNDATION

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

Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity by discussions with management and those charged with governance, experience from previous audits of the entity and experience of other charitable clients.

We assessed the risk of material misstatement in respect of fraud by discussions with management and assessments against accepted risk factors. We corroborated our enquiries through our substantive audit testing, review of client procedures and of minutes of Trustee meetings.

We determined that the most significant laws and regulations that relate which have a direct impact on the determination of material amounts and disclosures in the financial statements are company law, charitable law, the charitable objectives of the Foundation and accounting standards, including FRS 102 and the Charities SORP.

The terms and conditions under which grants and other income, in particular those of the Premier League, are significant because non-compliance would have a material effect on the financial statements.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above.

We considered the risk of fraud through management override, and in response, we incorporated testing of manual journal entries into our audit approach.

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with laws and regulations.

Identified fraud risk factors were discussed during the audit team briefing and professional scepticism exercised throughout the audit.

Because of the inherent limitations of an audit there is a risk that we will not detect all misstatements due to irregularities, including fraud. The more removed the laws and regulations are from the financial transactions, the less likely it is that we would become aware of non-compliance.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment, forgery, omission, misrepresentation and collusion. Audit standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiries of management and inspection of regulatory and legal correspondence, if any, in the absence of identified or suspected non-compliance.

-18-

WEST HAM UNITED FOUNDATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF WEST HAM UNITED FOUNDATION

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

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

Sunil Patel

(Senior Statutory Auditor) for and on behalf of F Winter & Co LLP

24.6 Maseh 2026

Chartered Accountants

Statutory Auditor

Statutory Auditors & Chartered Accountants

Ramillies House 2 Ramillies Street London

W1F 7LN

-19-

WEST HAM UNITED FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY 2025

			Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
			funds	funds		funds	funds
			2025	2025	2025	2024	2024	2024
	Notes		£	£	£	£	£	£
Income from:
Donations and similar
income		3	511,556	300,000	811,556	402,915	-	402,915
Income from Charitable
Activities		4	831,790	1,783,843	2,615,633	710,755	1,542,214	2,252,969
Other trading activities		5	473,961	-	473,961	550,378	-	550,378
Total income			1,817,307	2,083,843	3,901,150	1,664,048	1,542,214	3,206,262
Expenditure on:
Expenditure on trading
activities		6	326,708	-	326,708	391,608	-	391,608
Charitable activities		7	1,434,344	1,783,843	3,218,187	1,430,430	1,542,214	2,972,644
Grants and Donations		1	-	300,000	300,000	-	-	-
Total expenditure			1,761,052	2,083,843	3,844,895	1,822,038	1,542,214	3,364,252
Net income/(expenditure)		for
the year/
Netmovement in funds			56,255	-	56,255	(157,990)	-	(157,990)
Fund balances at 1 June	2024		451,229	-	451,229	609,219	-	609,219
Fund balances at 31 May
2025			507,484	-	507,484	451,229	-	451,229

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

= 20 «

WEST HAM UNITED FOUNDATION

CONSOLIDATED AND PARENT COMPANY BALANCE SHEET

AS AT 31 MAY 2025

		Group	Charity	Group	Charity
		2025	2025	2024	2024
	Notes	£	£	£	£
Fixed assets
Tangible assets	12	26,963	26,963	15,465	15,465
Investments	23	-	1	-	1
		26,963	26,964	15,465	15,466
Currentassets
Debtors	13	1,852,698	1,840,857	760,702	758,122
Cash at bank and in hand		103,501	96,208	222,371	208 324
		1,956,199	1,937,065	983,073	966,446
Creditors: amounts falling due within
one year	15	(750,678)	(731,545)	(547,309)	(530,683)
Net current assets		1,205,521	1,205,520	435,764	435,763
Total assets less current liabilities		1,232,484	1,232,484	451,229	451,229
Creditors: amounts falling due after
more than one year	16	(725,000)	(725,000)	-	-
Net assets		507,484	507,484	451,229	451,229
Income funds
Unrestricted funds
Designated funds		125,000	125,000	118,750	118,750
General unrestricted funds		382,484	382,484	332,479	332,479
		507,484	507,484	451,229	451,229

The company has taken advantage of the exemption under company law not to present its parent company statement of financial activities, including its income and expenditure account. The amount of group surplus for the year dealt with in the company’s accounts was £56,255 (2024 - £157,990 deficit)

The financial statements were approved and authorized for issue by the board of Trustees on 24.2) 2b.

• ZT Hehe et

Andrew Mollett (Chair) Trustee

Company registration number 05731045

-21-

WEST HAM UNITED FOUNDATION

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAY 2025

==> picture [471 x 272] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|24|(837,075)|(36,611)| |Investing|activities| |Purchase|of tangible|fixed|assets|(24,840)|(3,022)| |Net|cash|used|in|investing|activities|(24,840)|(3,022)| |Financing|activities| |Proceeds|from|new|bank|loans|750,000|-| |Repayment|of bank|loans|(6,953)|-| |Net cash|generated|from/(used|in)| |financing|activities|743,047|.| |Net|decrease|in|cash|and|cash|equivalents|(118,868)|(39,633)| |Cash|and|cash|equivalents|at|beginning|of year|222,371|262,004| |Cash|and|cash|equivalents|at end|of year|103,501|222,371|

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

=22'-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

• 1 Accounting policies

Charity information

West Ham United Foundation is a private company limited by guarantee (Companies House No. 5731045) and a registered charity (Registered Charity No. 1114458) incorporated in England and Wales. The registered office is 60a Albatross Close, Beckton, London, E6 5NX. The principal activities of the company are described in the Trustees Report.

• 1.1 Basis of Preparation

Accounting convention

The financial statements have been prepared in accordance with the the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

Theentityfinancialas definedstatementsby FRS102haveandbeenhaspreparedtaken advantageunder the historicalof the provisionscost convention.in FRS 102The companywhereby aisparent a qualifyingis not required to present a cash flow statement for the charity. Endif} The principal accounting policies adopted are set out below.

Basis of Consolidation

The consolidated financial statements incorporate the results of West Ham United Foundation and its subsidiary from the date that control commences to the date it ceases. Subsidiary undertaking is consolidated on a line-by-line basis using the acquisition method of accounting in accordance with Section 9 "Consolidated and Separate Financial Statements" of FRS 102. Details of West Ham United Foundations subsidiary undertaking can be found in Note 20.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The Board of Directors of West Ham United Football Club Limited (Club) have confirmed the Clubs ongoing intention of operational and financial support to the Trust for a minimum period of 12 months from the date of approval of these financial statements, and in addition the Club will not seek foreclosure of the intercompany loan. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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

Designated funds are amounts set aside by the Trustees for a specific purpose and may be transferred back to unrestricted funds by decision of the Trustees at their discretion

Restricted funds are subject to specific conditions by donors as to how they may be used. At the year end, the balances on all restricted funds are Nil.

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

-23-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

• 1 Accounting policies

(Continued)

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Donations and similar income includes donations, legacies and the income from all non-charitable incidental fundraising activities.

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

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

The Foundation does not include donated services and facilities in the Statement of Financial Activities as it is unable to reasonably quantify or measure the value of these services. Donated services are provided by West Ham United FC to the extent that premises and support functions are provided free of any charges. Details of transactions with West Ham United FC are included in note 18.

• 1.5 Expenditure

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

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

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

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant & Machinery 20% reducing balance Computer Software 33.3% staright line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

• 1.7 Investment in subsidiary undertaking

• A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. Investment in subsidiaries are included at cost.

-24-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

(Continued)

1.8 Impairment of fixed assets

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

1.9 Cash and cash equivalents

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

1.10 Financial instruments

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

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

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

Basic financial assets

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

Debtors

Trade and other debtors are recognized at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discount due.

Basic financial liabilities

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

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

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

Creditors and provisions

Creditors and provisions are recognized where the charity has a present obligation resulting from a past event that could probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognized at their settlement amount after allowing for any trade discount due.

Derecognition of financial liabilities

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

-25-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

1 Accounting policies

(Continued)

1.11 Taxation

The Charity is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 252 of the Taxations of the Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The income of the trading subsidiary is gift aided to the parent charity such that no tax liabilities are due.

1.12 Employee benefits

• The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

The principal estimates and judgements relate to the assessment of accrued and deferred income relating to restricted fund projects as determined by the conditions of the grant and the accounting requirements of FRS 102 and the SORP.

The allocation of support costs needs to take account of the restrictions imposed by donors on the ability to recover cost (see Note 8).

3 Donations and similar income

	Unrestricted	Restricted	Total	Unrestricted
	funds	funds		funds
	general			general
	2025	2025	2025	2024
	£	£	£	£
Grants	230,000	180,000	410,000	230,000
Donations	60,087	120,000	180,087	28,407
Legacies	-	-	-	40,000
Fundraising	221,469	-	221,469	104,508
	511,556	300,000	811,556	402,915

-26-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

• 4 Income from Charitable Activities

	Football Development	Community	Learning	Total 2025	Football Development	Community	Learning	Total 2024
	2025	2025	2025		2024	2024	2024
	£	£	£	£	£	£	£	£
Charitable activities	644,905	1,194,939	775,789	2,615,633	737,883	738,100	776,986	2,252,969
Analysis by fund
Unrestricted funds - general	184,635	143,546	503,609	831,790	203,895	135,329	371,531	710,755
Restricted funds	460,270	1,051,393	272,180	1,783,843	533,988	602,771	405,455	1,542,214
	644,905	1,194,939	775,789	2,615,633	737,883	738,100	776,986	2,252,969

=27 =

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

5 Other trading activities

==> picture [443 x 117] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |general|general| |2025|2024| |£|£| |Football|development|440,511|510,826| |Other trading|income|33,450|39,552| |Other trading|activities|473,961|550,378|

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

6 Expenditure on trading activities

==> picture [444 x 129] intentionally omitted <==

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Unrestricted| |funds|funds| |general|general| |2025|2024| |£|£| |Trading|costs| |Football|Development|326,708|310,608| |Other trading|cost|-|81,000| |326,708|391,608|

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

-28-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

7 Charitable activities

	Football Development	Community	—_Learning	Total	Football Development	Community	—_Learning	Total
	2025	2025	2025	2025	2024	2024	2024	2024
	£	£	€£	£	£	£	£	£
Charitable expenditure	593,461	939,644	565,280	2,098,385	630,946	547,437	490,976	1,669,359
Share ofsupport costs (see note 8)	321,417	347,480	400,850	1,069,747	453,703	334,836	470,775	= 1,259,314
Share ofgovernance costs (see note 8)	16,685	16,685	16,685	50,054	14,657	14,657	14,657	43,970
	931,563	1,303,809	982,815	3,218,187	1,099,306	896,930	976,408	2,972,644
Analysis by fund
Unrestricted funds - general	466,898	249,476	717,970	1,434,344	487,172	297,175	646,083	1,430,430
Restricted funds	464,665	1,054,333	264,845	1,783,843	612,134	599,755	330,325	1,542,214
	931,563	1,303,809	982,815	3,218,187	1,099,306	896,930	976,408	2,972,644

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WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

8 Support costs

Support costs
	Support	Governance	2025	Support	Governance	2024
	costs	costs		costs	costs
	£	£	£	£	£	£
Football Development	321,417	-	321,417	453,703	-	453,703
Community	347,480	-	347,480	334,836	-	334,836
Learning	400,850	-	400,850	470,775	-	470,775
Audit fees	-	10,000	10,000	-	8,810	8,810
Otherfees payable to
auditors	-	7,000	7,000	-	7,910	7,910
Legal and professional	-	33,054	33,054	-	27,250	27,250
	1,069,746	50,054	1,119,800	1,259,314	43,970	1,303,284
Analysed between
Charitableactivities	1,069,746	50,054	1,119,800	1,259,314	43,970	1,303,284

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

No Trustee (or any person associated with them) received any expenses from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

	2025	2024
	Number	Number
Full time employees	48	47
Part time employees	90	72
Total	138	119
Employment costs	2025	2024
	£	£
Wages and salaries	1,964,555	1,900,149
Social security costs	253,730	235,184
Other pension costs	60,055	58,151
	2,278,340	2,193,484

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WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

10 Employees

(Continued)

	The number ofemployees whose annual remuneration was more than £60,000
	is as follows:
		2025	2024
		Number	Number
	£170,001-£180,000	1	1
	£70,001-£80,000	2	2
	£60,001-£70,000	1	1
11.	Grants and Donations
		Restricted	Total
		funds
			£
		2025	2024
	Grants	204,000	-
	Donations	96,000	-
		300,000	-
12	Tangible fixed assets
		Plant& Machinery
			£
	Cost
	At 1 June 2024		36,483
	Additions		24,840
	At 31 May 2025		61,323
	Depreciation and impairment
	At 1 June 2024		21,018
	Depreciation charged in the year		13,342
	At 31 May 2025		34,360
	Carrying amount
	At 31 May 2025		26,963
	At31May2024		15,465

-31-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

13	Debtors
		Group	Charity	Group	Charity
		2025	2025	2024	2024
	Amounts falling due within one year:	£	£	£	£
	Trade debtors	835,719	772,759	514,352	468,979
	West Ham United Foundation Enterprises
	(WHUFE)	-	166,219	-	144,503
	Other debtors	5,136	5,136	8,784	8,784
	Prepayments and accrued income	1,011,843	896,743	237,566	135,856
		1,852,698	1,840,857	760,702	758,122
14	Loans and overdrafts
				2025	2024
				£	£
	Bank loans			743,046	-
	Payable within one year			18,046	-
	Payable between two and five years			100,000	-
	Payable after five years			625,000	-
	Amounts included above which fall due after more than one and five years:
	Payablebyinstalments			725,000	-

At the balance sheet date, the charity had the following loans outstanding:

Trust for London (TFL)

During the year, the Charity drew £500,000 from the Trust for London. This loan is repayable over 10 years with monthly repayments of capital and interest at the Bank of England base rate plus 0.5% and capped at 4% by 2034.

Charity Bank

On 18 December 2024, the Charity drew £250,000 from the Charity Bank Limited. This loan is repayable over a 10 years with monthly repayment of capital and interest at the Bank of England base rate plus 4% by 2034.

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WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

15	Creditors: amounts falling due within one year	Creditors: amounts falling due within one year
			Group	Charity	Group	Charity
			2025	2025	2024	2024
		Notes	£	£	£	£
	Bank loans	14	18,046	18,046	-	-
	Other taxation and social
	security		96,423	87,574	73,523	65,342
	Deferred income	17	437,275	437,275	397,088	397,088
	Trade creditors		107,426	106,217	23,218	21,273
	Accruals		91,508	82,433	53,480	46,980
			750,678	731,545	547,309	530,683
16	Creditors: amounts falling due after more than one year
					2025	2024
				Notes	£	£
	Bank loans			14	725,000	-
17	Deferred income
					2025	2024
					£	£
	Other deferred income				437,275	397,088
					2025	2024
					£	£
	Deferred income is included within:
	Current liabilities				437,275	397,088
	Deferred income at 1 June 2024				397,088	253,319
	Released from previous periods				(397,088)	(253,319)
	Resources deferred in the year				437,275	397,088
	Deferredincomeat31May2025				437,275	397,088

Deferred income represents income which the charity is required to retain to meet the balance of expenditure under the terms of funding agreements.

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WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

18 Funds

	General Designated Total Restricted Reserve Funds Unrestricted Funds	General Designated Total Restricted Reserve Funds Unrestricted Funds	General Designated Total Restricted Reserve Funds Unrestricted Funds	General Designated Total Restricted Reserve Funds Unrestricted Funds	Total Funds	Total Funds
	£	£	£		£	£
At 1 June 2023	509,219	100,000	609,219		-	609,219
Incoming resources	1,664,048		1,664,048	1,542,214		3,206,262
Resources expended	(1,822,038)	-	(1,822,038)	(1,542,214)		(3,364,252)
Transfer	(18,750)	18,750
At 31 May 2024	332,479	118,750	451,229		-	451,229
At 1 June 2024	332,479	118,750	451,229		-	451,229
Incoming resources	1,817,307		1,817,307	2,083,843		3,901,150
Resources expended	(1,761,053)	-	(1,761,053)	(2,083,843)		(3,844,895)
Transfer	(6,250)	6,250
At31May2025	382,484	125,000	507,484		-	507,484

Funds are held for use of the following purposes.

General reserve

General reserve represents funds available for use at the discretion of Board to further the Charity's objectives.

Designated funds

Designated funds are amounts set aside by the Trustees for specific purposes. During the year the Trustees transferred an additional £6,250 into a separate designated fund for the maintenance and improvement of the pitches made available to the Foundation by West Ham United Football Club.

Restricted funds

Restricted funds include grants given to the Charity for specific purposes to be expended in accordance with the terms of donation or grants.

These funds consist of grants and funding in various bodies including Premier League. They are to be used for specific projects according to terms and restrictions imposed by the donors and funding bodies. They relate to a large number of short-term projects the activities which are in line with our objectives, covering areas in Football Development, Learning and Community.

-34-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

19 Operating lease commitments

At 31 May 2025 the group had operating lease commitments under which the minimum commitments are payable as follows

i. Within one year £25,000 (2024

: £25,000)

ii. Within years two and five £100,000 (2024 : £100,000)

iii. After more than five years £500,000 (2024 : £500,000)

20 Analysis of net assets between funds

	General reserve	Designated funds	Total unrestricted	General reserve	Designated funds	Total unrestricted
			funds			funds
	2025	2025	2025	2024	2024	2024
	£	£	£	£	£	£
Fund balances at 31
May 2025 are
represented by:
Tangible assets	26,963	-	26,963	15,465	-	15,465
Current assets/(liabilities)	1,080,521	125,000	1,205,521	317,014	118,750	435,764
Long term liabilities	(725,000)	-	(725,000)	-	-	-
	382,484	125,000	507,484	332,480	118,750	451,229

-35-

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

21 ‘Related party transactions

Remuneration of key management personnel The remuneration of key management personnel is as follows.

		2025	2024
		£	£
Aggregate	compensation	466,210	438,937

Transactions with related parties

Sports equipment, stationery and children’s toys were purchased from West Ham United Football Club Limited.

					Purchase	ofgoods
					2025	2024
					£	£
West	Ham	United	Football	Club	53,118	63,750

Other trading income (Note 6) includes salary and other recharges to West Ham United Football Club for the use of staff and hospitality.

					Recharges
					2025	2024
					£	£
West	Ham	United	Football	Club	37,180	164,566

The following amounts were outstanding at the reporting end date:

£387,885 (2024: £177,232) due from West Ham United Football Club Group.

A number of other goods and services were supplied to the company by West Ham United Football Club Limited on a complimentary basis, as explained in the section headed "Relationship with West Ham United Football Club Limited" in the Trustees' Report, pages 1 to 14 of these financial statements. The Trustees consider that it is impracticable to value these goods and services.

On 28 May 2024, the charity entered into an operating lease with West Ham United Football Club for a period of twenty five years for the occupation of the redeveloped premises at Beckton at a minimum rent of £25,000 per annum. The previous lease allowed rent free occupation.

22 Controlling Party

The company is limited by guarantee and therefore does not have any share capital. Any liability of its members is limited to £10 per member

• 36 -

WEST HAM UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2025

23 Subsidiaries

Details of the charity's subsidiaries at 31 May 2025 are as follows:

==> picture [470 x 318] intentionally omitted <==

----- Start of picture text -----
|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |Name|of undertaking|Registered|Nature|of business|Class|of|%|Held| |office|shares|held|_ Direct|Indirect| |West|Ham|United|England|and|Provision|of|Sports|Services|Ordinary|100.00| |Foundation|Enterprises|Wales| |(WHUFE)|Limited| |Share|Capital|Held|£1| |24|Cash|generated|from|operations|2025|2024| |£|£| |Surplus/(deficit)|for the|year|56,255|(157,990)| |Depreciation|and|impairment|of tangible|fixed|assets|13,342|10,893| |Movements|in|working|capital:| |(Increase)/decrease|in|debtors|(1,091,996)|238,429| |Increase/(decrease)|in|creditors|145,138|(271,712)| |Increase|in|deferred|income|40,187|143,769| |Cash|absorbed|by|operations|(837,074)|(36,611)| |25|Analysis|of changes|in|net|debt|

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

==> picture [441 x 107] intentionally omitted <==

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |At|1|June|2024|Cash|flows|At|31|May|2025| |£|£|£| |Cash|and|cash|equivalents|222,371|(118,870)|103,501| |Debts|falling|due|within|one|year|-|(6,954)|(6,954)| |Debts|falling|due|after|one|year|-|(743,046)|(743,046)| |Net|Debt|222,371|(868,870)|(646,499)|

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

26 Corresponding amounts

In certain cases, the Trustees have reanalysed the corresponding amounts in order to make their disclosures more meaningful.

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