OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-08-31-accounts

Registered number: 05895540 Charity number: 1119794

WYCOMBE WANDERERS FOUNDATION (formerly Wycombe Wanderers Sports and Education Trust) (A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent examiner's report 11
Statement of financial activities 12
Balance sheet 13 - 14
Statement of cash flows 15
Notes to the financial statements 16 - 31

(A company limited by guarantee)

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022

Trustees D Cove, Chairman
I C Keizner
K E Robinson
G Allan
P Lerner (Resigned 16 January 2023)
A Velasco
Y Thomas (appointed 28 September 2021)
D Lovelock (appointed 28 September 2021)
C Hayfield (appointed 10 October 2022)
Company registered
number
05895540
Charity registered
number
1119794
Registered office
Adams Park
Hillbottom Road
Sands Industrial Estate
High Wycombe
Buckinghamshire
HP12 4HJ
Senior management
team
Mark Gaitskell, CEO
Kirk Williams, Head of Sports Participation
Mark Guildea, Head of Education & Employability
Simon Wears, Head of Health
Luke Godfrey, Head of Inclusion & Cohesion
Andrew Homent, Activity Programme Manager
Lewis Bloom, Elite Development Academy Manager
Accountants
MHA
Chartered Accountants
Building 4 Foundation Park
Roxborough Way
Maidenhead
SL6 3UD
Bankers
HSBC Bank plc
1 Cornmarket
High Wycombe
Buckinghamshire
HP11 2AY

Page 1

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their annual report together with the financial statements of the charity for the year 1 September 2021 to 31 August 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

On 19 August 2022, the charitable company changed its name from Wycombe Wanderers Sports and Education Trust to Wycombe Wanderers Foundation. References to the organisation are noted as WWF below.

Objectives and activities

a. Policies and objectives

The mission of Wycombe Wanderers Foundation is to deliver an innovative and appealing range of activities, often football related, to educate, motivate and inspire as many people as possible and to be a charity that both the local community and Wycombe Wanderers Football Club are proud of.

Specifically Wycombe Wanderers Foundation aims are:

The income and property of the charity is to be applied solely towards the promotion of the above objects.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Achievements and performance

Review of activities

The main areas of activities are the ongoing projects that all fall under the banner of one of the charities 4 priority areas: health, education, social inclusion, and sports participation. These projects are funded by grants, funding streams, commercial sponsors and by charging participants to attend, depending on each specific project being delivered.

A total of £35,000 was received from the English Football League Trust during the year to 31 August 2022. £35,000 of this money related to core funding provided to contribute towards the charities' core overhead costs.

The Premier League Charitable Fund granted £62,137.50 to support the provision of our Premier League Primary Stars project (£40,750) and the Premier League Kicks project (£21,387.50). A further £256,532.77 was generated from our other programmes and enabled WWF to continue working with the local community across a range of activities and projects.

Other Sponsorships and Donations in the year totalled £14,767.

Financial review

Going concern

Although WWF finished the year with a financial deficit the Trustees are optimistic with regards to the future financial state of the charity. This is due to the emphasis being placed on reducing expenditure and generating additional unrestricted income wherever possible, not least via the introduction of numerous new projects and fundraising initiatives being planned for the 2022-23 financial year.

Given this approach, alongside the continued optimism that WWF programmes will be able to expand and grow, as well as the expected impetus gained from the appointment of a new chief executive with a fresh approach and new ideas, WWF Trustees feel positive about WWF's prospects and are of the firm opinion that WWF meets the criteria for the 'going-concern' concept to remain appropriate.

Page 3

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Reserves policy

The Reserves Policy of WWF dictates that enough funds should be held in reserve to manage the day-today operating costs of the organisation for a period of up to six months. The day-to-day operating costs concerned with the reserve policy take into account average monthly wage costs of £43,643 plus facility costs of £1,367, giving a total monthly cost of £45,010 and a six-month total of £270,060.

The reason the WWF Board of Trustees have set this reserve policy amount is to assist WWF in managing its finances in a responsible and robust manner. More specifically, the design and implementation of our reserve policy satisfies 3 primary objectives:

The WWF board of trustees have set this target, and feel it is appropriate, following advice regarding reserves best practice from the English Football League Trust. The WWF Board of Trustees acknowledges that fluctuating reserve levels can and will be used to gain an insight into the overall financial health of WWF, and to foresee any significant financial problems that WWF may be suffering from. Therefore, it will be the WWF Board of Trustees responsibility to monitor WWF reserve levels at regular intervals, and at a minimum of every financial quarter. Specifically the Board of Trustees will:

On 31st August 2022 the total funds of £9,129 comprised deficit £6,040 (2021: deficit £9,563) unrestricted funds and £15,169 (2021; £22,515) restricted funds.

This is below the preferred level primarily as a consequence of the challenges presented during the Covid-19 pandemic. This is a key objective for the new executive leadership of WWF to address moving forwards.

Investments policy

The trust has unrestricted investment policies. The trustees have not adopted a formal investment policy, as at present, the trust does not have sufficient funds available to make investments. The trustees will review the position if sufficient funds become available in the future. In the meantime, they will review the trust's banking arrangements to ensure they are the most appropriate for the trust.

Page 4

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Financial risk management objectives and policies

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. External risks to funding have led to a strategic plan, which will allow for diversification of funding and cooperation with other charities, voluntary bodies and statutory bodies, so long as the income and property of the charity shall be applied solely towards the promotion of the objects. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they meet the needs of the charity.

Structure, governance and management

Constitution

The Charity is registered as a charitable company limited by guarantee, incorporated on 3 August 2006 and registered as a charity (number 1119794) on 21 June 2007. The trustees are also the directors of the charitable company for the purposes of company law.

WWF’s Memorandum & Articles of Association are the primary governing documents of the Charity. In the event of the charity being wound up, all the members of the company guarantee to contribute an amount not exceeding £10.

The principal object of the charity is to further and assist the development of children and adults within High Wycombe and its surrounding areas with regard to levels of health, education, sports participation and social inclusion. This is achieved through the use of sport, most often football, and harnessing the appeal of the Wycombe Wanderers Football Club brand.

Page 5

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management (continued)

Methods of appointment or election of Trustees

WWF is managed by a Board of Trustees/Directors plus Officers. The WWF Trustees maintain a collective WWF Board Skills Audit and screen any potential new Trustee against the collective needs of the Board.

The WWF Board of Trustees consists of representatives as follows:

Directors/Trustees

Officers - Non-Voting Attendees

At the close of the reporting period the WWF Trustees were as follows:

Trustees nominated by Wycombe Wanderers Football Club:

Trustees nominated by Wycombe Wanderers Trust:

Independent Trustees:

New trustees are appointed upon the recommendation of existing trustees and must retire at the next annual general meeting and offer themselves for re-election. Trustees are appointed initially for a three-year period, with approximately one-third of the trustees retiring by rotation each year at the Annual General Meeting. Retiring Trustees are eligible for being re-appointed, for a further three-year term of office, subject to the approval of any nominating body and the Board.

On appointment trustees complete a Register of Interests and are inducted by the existing trustees who explain in general terms the activities of the charity and supply written guidance notes as well as copies of meeting minutes and the most recent set of accounts.

None of the trustees has a beneficial interest in the charity. Trustees benefit from indemnity insurance to cover the liability of the trustees which by virtue of any rule of law would otherwise attach to them in respect of any negligence, default or breach of trust or breach of duty of which they may be guilty in relation to the Trust. The cost of this insurance was £1,294 during the reporting period.

An annual review of the trustees' skills is carried out and appropriate training is provided where necessary.

Page 6

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management (continued)

Organisational structure and decision-making policies

The board of trustees, which shall Include no less than three members, administer the charity. The trustee board ideally comprises of eight trustees – four independent trustees and four trustees who represent the Wycombe Wanderers Trust and Wycombe Wanderers Football Club. The board meets on a quarterly basis. A Head of WWF is appointed by the board to manage the day-to-day operations of the charity.

Pay policy for key management personnel

The Structure covers all employees and is classified by role. Each role clearly indicates a range of bands with potential incremental rises. The outcome of annual Performance Management Reviews will be used to influence the rate of progression through the increments. All recommendations for progression between bands will be reviewed by the Trustees, alongside the proposed change in role and job description, before coming into effect.

Related party relationships

The following companies are considered related parties:

There are limited transactions between WWF and these companies, and any transactions which have taken place are disclosed in the notes to these accounts.

Risk management

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced for the Trustees so that necessary steps can be taken to lessen these risks.

Page 7

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Plans for future periods

WWF are committed to developing a comprehensive and diverse range of programmes, providing the best opportunities for members of the local community. The Charity plans to continue operating with the aim of satisfying the charities objectives concerned with improving personal outcomes in our four key areas of activity. WWF’s activities during the reporting period in furtherance of this aim, included the offering of the following projects/activities:

Health:

• Fit Chairboys (previously Football Fans In Training) A 12-week lifestyle programme aimed at men aged 35 —65 years old with a waist size of 38 inches or more. Looks to increase knowledge of diet & nutrition, improve lifestyle choices, increase physical activity levels, reduce weight and waist measurements, and increase engagement in other physical activity.

• 'Keep Moving Forward" A suite of projects, all of which aim to engage those suffering from mental health issues to facilitate improvements. Currently the projects include a wellbeing walk, an Indian Clubs physical activity session, a yoga session, and a gardening group.

• Walking Football:

Weekly sessions that focus on sports participation as well as the inclusiveness/social elements of team sports participation, and aims to engage those over 50 years old and/or with pre-existing health conditions.

• Food Provision Projects Support local partners in the delivery of projects that assist those suffering from food insecurity. Social Inclusion:

Social Inclusion:

Football sessions that take place on Friday and Saturday evenings plus a female only physical activity session that takes place on a Wednesday evening. All sessions target local young people aged 8-18 years old.

• Social Inclusion Workshops and Events Delivered in partnership with Show Racism the Red Card and Kick It Out, all with the aim of educating youngsters on racial and inclusion related issues.

The DIVERT programme aims to reduce the reoffending rate in Buckinghamshire amongst

18-25-year-olds by providing WWF Custody Intervention Coaches in custody suites across the county.

Education:

Programme that works with primary school teachers to improve their levels of PE delivery. Also provides targeted numeracy and literacy support to pupils using football to engage.

A suite of projects all of which aim to engage young people who are currently disengaged with education and/or getting involved in low level crime/gang activity. Currently consists of WWF coachers/teachers working in local schools to mentor targeted pupils.

• Play Into Space

Youth Clubs that take place in school holiday periods and provide young people with a safe place to spend their

Page 8

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Plans for future periods (continued)

time.

• Kickstart

Employability project that offers young people aged 18-25 with a 6-month work placement within WWSET

• Education Days/Events Delivery of workshops and events targeting young people and educating them on current issues/topics such as anti-racism, rail safety, internet safety, world book day, Ramadan.

Sports Participation:

Sessions that engage children in curriculum and non-curriculum time and increase their levels of sports participation.

• Holiday Courses

Provides safe and healthy holiday football activities.

• Saturday Morning Clubs

Sessions that provide youngsters with a gentle and supportive introduction to football.

Community football tournaments taking place on the pitch at Adams Park stadium.

• Elite Development Academy Football sessions for local youngsters (male & female) who show high levels of ability with the aim of further progressing them to play at the highest possible levels.

In addition to the above WWF also delivers numerous activities for or on behalf of the Club, including processing charity requests, organising matchday ball boys/girls, matchday activities, organising player requests (a Professional Footballer's Association responsibility for player engagements in the community) and tours of the stadium. These ensure that the football club sits at the heart of its community.

At the time of writing this WWF are in the process of designing their next 3-year Strategy which will come into force as of the 2022-23 business year.

Page 9

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the charity for the purposes 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Chair of Trustees Date: 26 April 2023

Page 10

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022

Independent examiner's report to the Trustees of Wycombe Wanderers Foundation (formerly Wycombe Wanderers Sports and Education Trust) ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2022.

Responsibilities and basis of report

As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

Signed: Dated: 17 May 2023

B K Silva ACA DChA

MHA, Building 4, Foundation Park, Roxborough Way, Maidenhead SL6 3UD

Page 11

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Transfers between funds
12
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
126,489
421,809
548,298
556,255
556,255
(7,957)
11,480
3,523
(9,563)
3,523
(6,040)		 Restricted
funds
2022
£
108,168
63,750
171,918
167,784
167,784
4,134
(11,480)
(7,346)
22,515
(7,346)
15,169		 Total
funds
2022
£
234,657
485,559
720,216
724,039
724,039
(3,823)
-
(3,823)
12,952
(3,823)
9,129		 Total
funds
2021
£
374,369
205,297
579,666
586,988
586,988
(7,322)
-
(7,322)
20,274
(7,322)
12,952

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

The notes on pages 16 to 31 form part of these financial statements.

Page 12

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee) REGISTERED NUMBER: 05895540

BALANCE SHEET AS AT 31 AUGUST 2022

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 64,712
116,849
181,561
(172,470)		 2022
£
38
38
9,091
9,129
9,129
9,129
15,169
(6,040)
9,129		 29,339
64,469
93,808
(82,600)		 2021
£
1,744
1,744
11,208
12,952
12,952
12,952
22,515
(9,563)
12,952

Page 13

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2022

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 26 April 2023 and signed on their behalf by:

D Cove (Chair of Trustees)

The notes on pages 16 to 31 form part of these financial statements.

Page 14

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2022

Note
Cash flows from operating activities
Net cash used in operating activities
14
Cash flows from investing activities
Purchase of tangible fixed assets
9
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
15
The notes on pages 16 to 31 form part of these financial statements		 2022
£
52,380
-
-
52,380
64,469
116,849		 2021
£
(3,365)
(2,130)
(2,130)
(5,495)
69,964
64,469

Page 15

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. General information

The chairty is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Wycombe Wanderers Foundation (formerly Wycombe Wanderers Sports and Education Trust) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees assess whether the use of going concern is appropriate i.e whether there are any material uncertainities related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements and have concluded that the going concern concept is appropriate. In reaching this conclusion the trustees have considered the impact of Covid-19 and further details on the impact are discussed in the trustees report.

Page 16

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Grants related to performance and specific deliverables are accounted for when the charity has completed that performance and deliverable.

2.4 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.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Adams Park. Governance costs are included in support costs and are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.

Page 17

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.8 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. .

Depreciation is provided on the following basis:

Motor vehicles - 17% per annum on a straight line basis
Fixtures and fittings - 25% per annum on a straight line basis
Computer equipment - 25% per annum on a straight line basis

2.9 Debtors

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

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 18

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.12 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 19

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

3. Income from donations and legacies

Unrestricted
funds
2022
£
Sponsorships
42,757
Donations
1,327
Grants
82,405
126,489
Unrestricted
funds
2021
£
Donations
5,662
Grants
76,379
Government grants
-
82,041
Income from charitable activities
Unrestricted
funds
2022
£
Sport and educational activities
421,809
Unrestricted
funds
2021
£
Sport and educational activities
200,297		 Restricted
funds
2022
£
38,609
-
69,559
108,168
Restricted
funds
2021
£
-
224,234
68,094
292,328
Restricted
funds
2022
£
63,750
Restricted
funds
2021
£
5,000		 Total
funds
2022
£
81,366
1,327
151,964
234,657
Total
funds
2021
£
5,662
300,613
68,094
374,369
Total
funds
2022
£
485,559
Total
funds
2021
£
205,297

4. Income from charitable activities

Page 20

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

5. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2022
£
Sport and educational activities
556,255
Unrestricted
funds
2021
£
Sport and educational activities
311,602		 Restricted
funds
2022
£
167,784
Restricted
funds
2021
£
275,386		 Total
2022
£
724,039
Total
2021
£
586,988

6. Analysis of expenditure by activities

Sport and educational activities
Sport and educational activities		 Activities
undertaken
directly
2022
£
530,716
Activities
undertaken
directly
2021
£
350,909		 Support
costs
2022
£
193,323
Support
costs
2021
£
236,079		 Total
funds
2022
£
724,039
Total
funds
2021
£
586,988

Page 21

(A company limited by guarantee)

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Activity costs
Pitch hire
Football kit and equipment
Prizes and medals
Motor expenses
External staff costs
Advertising
Catering and refreshments
Miscellaneous		 Sport and
educational
activities
2022
£
392,292
3,813
96,709
5,190
5,040
12,321
11,113
901
3,215
122
530,716		 Total
funds
2022
£
392,292
3,813
96,709
5,190
5,040
12,321
11,113
901
3,215
122
530,716		 Total
funds
2021
£
273,780
2,288
57,321
3,971
124
7,167
4,750
661
540
307
350,909

Page 22

(A company limited by guarantee)

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Telephone and IT support
Print, post and stationery
Miscellaneous
Bank and credit card charges
Accomodation costs
Insurance
Accountancy and other services
Depreciation
Independent examiners' cost
Legal fees
HR and recruitment costs
Consultancy fees
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Sport and
educational
activities
2022
£
131,427
5,827
2,200
631
374
6,561
1,294
36,818
1,705
2,960
1,776
1,750
-
193,323		 Total
funds
2022
£
131,427
5,827
2,200
631
374
6,561
1,294
36,818
1,705
2,960
1,776
1,750
-
193,323
2022
£
477,137
35,599
10,983
523,719		 Total
funds
2021
£
179,592
5,421
2,445
602
120
6,561
599
29,790
1,445
2,696
2,053
1,155
3,600
236,079
2021
£
416,019
26,871
10,482
453,372

7. Staff costs

Page 23

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

7. Staff costs (continued)

The average number of persons employed by the charity during the year was as follows:

Direct charitable
Coaches
Administration		 2022
No.
19
8
1
28		 2021
No.
18
4
1
23

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the charity comprise the senior staff listed on page 1. The total amount of employee benefits (including employer pension and national insurance contributions) received by key management personnel for their services to the charity was £131,427 (2021: £179,592).

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 August 2022, no Trustee expenses have been incurred (2021 - £NIL) .

Page 24

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

9. Tangible fixed assets

Cost or valuation
At 1 September 2021
At 31 August 2022
Depreciation
At 1 September 2021
Charge for the year
At 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021
10.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Motor
vehicles
£
3,750
3,750
3,750
-
3,750
-
-		 Computer
equipment
£
6,821
6,821
5,077
1,706
6,783
38
1,744
2022
£
44,561
-
20,151
64,712		 Total
£
10,571
10,571
8,827
1,706
10,533
38
1,744
2021
£
7,805
14,711
6,823
29,339

Page 25

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

11. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 September 2021
Resources deferred during the year
Amounts released from previous periods		 2022
£
30,730
11,228
1,037
129,475
172,470
2022
£
45,158
81,455
(45,158)
81,455		 2021
£
15,095
11,307
2,172
54,026
82,600
2021
£
55,008
45,158
(55,008)
45,158

Deferred income relates to income received relating to the next financial year.

Page 26

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Leap Opening Schools
Facilities
HM Prision & Probation service
BAME
Changing rooms
POW
FL Primary Stars
FL Kicks
Football fans in training
Divert Programme
Play into space
EFLT Grant (you vs train)
Get active
Chairboys chat
Football stadium improvement
Skateboarding Project
LAC stadium
HAF funding
FIT chairboys
Total of funds		 Balance at 1
September
2021
£
(9,563)
-
9,112
-
840
-
-
-
3,315
584
-
4,693
-
3,971
-
-
-
-
22,515
12,952		 Income
£
548,298
-
-
139
-
40,000
20,200
-
-
-
8,875
-
12,320
-
3,396
11,027
53,123
22,838
171,918
720,216		 Expenditure
£
(556,255)
513
-
94
-
(35,862)
(17,590)
4,166
(3,315)
(584)
(8,875)
(4,693)
(12,320)
(147)
(2,183)
(11,027)
(53,123)
(22,838)
(167,784)
(724,039)		 Transfers
in/out
£
11,480
(513)
-
(233)
-
(3,958)
(2,610)
(4,166)
-
-
-
-
-
-
-
-
-
-
(11,480)
-		 Balance at
31 August
2022
£
(6,040)
-
9,112
-
840
180
-
-
-
-
-
-
-
3,824
1,213
-
-
-
15,169
9,129

Page 27

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds (continued)

Statement of funds (continued)
Statement of funds - prior year
Balance at
1 September
2020
£
Unrestricted funds
General Funds
(1,457)
Restricted funds
Leap Opening Schools
Facilities
-
Keep moving forward - SCTC
-
HM Prision & Probation service
BAME
-
Changing rooms
8,000
POW
840
FL Primary Stars
5,305
FL Kicks
7,586
Football fans in training
-
Doorsteppers
-
Divert Programme
-
Play into space
-
EFLT Grant (you vs train)
-
Get active
-
Football stadium improvement
-
Skateboarding Project
-
21,731
Total of funds
20,274		 Income
£
282,338
5,000
19,998
9,200
-
-
40,000
13,485
68,093
66,943
37,000
14,854
4,000
4,745
9,600
4,410
297,328
579,666		 Expenditure
£
(311,602)
(5,514)
(20,517)
(88)
(8,233)
-
(49,263)
(23,681)
(68,093)
(33,603)
(33,685)
(14,270)
(4,182)
(52)
(5,629)
(8,576)
(275,386)
(586,988)		 Transfers
in/out
£
21,158
514
519
-
233
-
3,958
2,610
-
(33,340)
-
-
182
-
-
4,166
(21,158)
-		 Balance at
31 August
2021
£
(9,563)
-
-
9,112
-
840
-
-
-
-
3,315
584
-
4,693
3,971
-
22,515
12,952
Unrestricted funds
General Funds
Restricted funds
Leap Opening Schools
Facilities
Keep moving forward - SCTC
HM Prision & Probation service
BAME
Changing rooms
POW
FL Primary Stars
FL Kicks
Football fans in training
Doorsteppers
Divert Programme
Play into space
EFLT Grant (you vs train)
Get active
Football stadium improvement
Skateboarding Project
Total of funds

Page 28

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

12. Statement of funds (continued)

Fit Chairboys (previously Football Fans In Training)

A 12-week lifestyle programme aimed at men aged 35 —65 years old with a waist size of 38 inches or more. Looks to increase knowledge of diet & nutrition, improve lifestyle choices, increase physical activity levels, reduce weight and waist measurements, and increase engagement in other physical activity.

The Keep Moving Forward project is funded by the Sports Council Trust Company Grant and is a mental health recovery and prevention project delivered in partnership with Buckinghamshire Recovery College and Bucks Mind. The program involves two sessions; a weekly walking group session and a classroom based session, both of which merge mental health learning whilst getting more active.

Premier League Kicks Programme

Football sessions that take place on Friday and Saturday evenings plus a female only physical activity session that takes place on a Wednesday evening. All sessions target local young people aged 8-18 years old.

Divert

The DIVERT programme aims to reduce the reoffending rate in Buckinghamshire amongst 18-25-year-olds by providing WWF Custody Intervention Coaches in custody suites across the county

Play Into Space

Youth Clubs that take place in school holiday periods and provide young people with a safe place to spend their time.

Premier League Primary Stars:

Programme that works with primary school teachers to improve their levels of PE delivery. Also provides targeted numeracy and literacy support to pupils using football to engage.

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
38
Current assets
166,392
Creditors due within one year
(172,470)
Total
(6,040)		 Restricted
funds
2022
£
-
15,169
-
15,169		 Total
funds
2022
£
38
181,561
(172,470)
9,129

Page 29

(A company limited by guarantee)

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

13. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2021
£
1,744
71,293
(82,600)
(9,563)		 Restricted
funds
2021
£
-
22,515
-
22,515		 Total
funds
2021
£
1,744
93,808
(82,600)
12,952

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
15.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 2022
£
(3,823)
1,705
(35,373)
89,870
52,379
2022
£
116,849
116,849		 2021
£
(7,322)
1,444
4,508
(1,995)
(3,365)
2021
£
64,469
64,469

Page 30

WYCOMBE WANDERERS FOUNDATION (FORMERLY WYCOMBE WANDERERS SPORTS AND EDUCATION TRUST)

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

16. Analysis of changes in net debt

----- Start of picture text -----
At 1
September At 31
2021 Cash flows August 2022
£ £
£
Cash at bank and in hand 64,469 52,380 116,849
----- End of picture text -----

17. Pension commitments

The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £10,983 (2021 - £10,482). Contributions totalling £2,026 (2021 - £2,247) were payable to the fund at the balance sheet date and are included in creditors.

18. Related party transactions

The Foundation incurs costs from Wycombe Wanderers Football Club to cover office running costs. For 2022 these amounted to £16,400. At 31 August 2022, Foundation owed the Club £2,231.

Page 31