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← Wycombe Wanderers Foundation

2024-08-31-accounts

Charity number: 1119794

Registered number: 05895540

WYCOMBE WANDERERS FOUNDATION (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

WYCOMBE WANDERERS FOUNDATION

CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 9
Independent auditor's report on financial statements 10 - 13
Statement of financial activities 14
Balance sheet 15
Statement of cash flows 16
Notes to the financial statements 17 - 33

WYCOMBE WANDERERS FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024

Trustees A Hussain, Chairman
M Harker
C J Hayfield
P Lerner
D J Lovelock
A Parry
J L S Ross (appointed 28 March 2024)
J Shaw
Y Thomas
A Velasco
E Chow (appointed 01 June 2025)
Charity registered
number
1119794
Registered office
Adams Park
Hillbottom Road
High Wycombe
Buckinghamshire
HP12 4HJ
Senior management
team
Mark Gaitskell, CEO
Kirk Williams, Head of Sports Participation
Luke Godfrey, Head of Inclusion & Cohesion
Andrew Homent, Activity Programme Manager
Kelly Rees, Head of Education & Employability
Independent auditors
Barnes Roffe Audit Limited
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
London
E11 1GA
Bankers
National Westminster Bank plc
9 Bank Court
Hemel Hempstead
Hertfordshire
HP1 1BS

Page 1

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 September 2023 to 31 August 2024.

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.

Objectives and activities

Policies and objectives

The mission of Wycombe Wanderers Foundation (WWF) is to deliver an innovative and appealing range of activities, 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:

These are summarised succintly into the following vision and mission:

Vision - an educated, healthier, more connected community

Mission - to place Wycombe Wanderers Football Club at the forefront of supporting local people and communties to thrive.

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

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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Achievements and performance

Review of activities

Due to a staffing restructure, four operating departments became three – Education & Employability, Health & Inclusion and Sports Participation however, our four strategic aims around these areas of work remained, delivering programmes and projects which:

A total of £35,000 was received from the English Football League Trust (recently rebranded to EFL in the Community - EFLitC) during the year 2023-24. £35,000 of this money related to core funding provided to contribute towards the charities' core overhead costs. Additional funds via the EFLitC came in the form of a business development grant, Sky Bet Building Foundations Fund and Kellogg’s national sponsorship of the summer camps programme combined totalling £40,000.

The Premier League Charitable Fund granted £95,000 to support the provision of our Premier League Primary Stars project (£35,000) Premier League Kicks project (£35,000) and Fans Fund in the form of a Community Engagement Officer (£25,000).

The Rothschild Foundation provided WWF with a one-off grant of £100,000 to deliver a year-long social research project looking into the barriers to sports participation for under 18’s in High Wycombe.

Financial review

Going concern

Although WWF finished the year in surplus, this was in part due to several ongoing projects (Rothschild, Fans Fund) but also as a result of stringent spending, thriving football-based provision and the hard work of a passionate and dedicated team of staff. This surplus enabled the payment of a staff bonus and initial replenishment of our cash reserves which remains a key focus and ongoing concern to reach an acceptable level. A point acknowledged by the trustees but that will take time within the current climate. Recruitment within our sector is considered extremely challenging and whilst non-contractual, payment of our staff bonus is considered an important USP geared towards staff retention, in a crowded marketplace where progression opportunities are significant. 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.

Given this approach, alongside future development plans and an optimism that WWF programmes can expand and grow as a result, 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

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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 three months. With ever increasing costs this figure increases year-on-year. The day-to-day operating costs concerned with the reserve policy take into account average monthly wage costs, facility costs giving a total monthly cost of £51,000 and a three-month total of £153,000.

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 EFLitC. 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:

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.

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.

Page 4

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

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 and 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 support 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, often football, and harnessing the appeal of the Wycombe Wanderers Football Club brand.

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:

Page 5

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Structure, governance and management (continued)

New Trustees are appointed upon targeted recruitment and the recommendation of existing Trustees; they must retire at the next annual general meeting and offer themselves for reelection. 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 charity. The cost of this insurance was £1,396 during the reporting period.

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

Organisational structure and decision-making policies

The Board of Trustees, which shall include no less than three members, administer the charity. The Board of Trustees ideally comprises of ten Trustees – six independent Trustees and four Trustees who represent the Wycombe Wanderers Supporters Trust and Wycombe Wanderers Football Club. The board meets on a quarterly basis. A WWF Chief Executive is appointed by the board to manage the day-to-day operations of the charity.

Pay policy for key management personnel

WWF has a staff matrix in place. The Structure covers all employees and is classified by role. Each role clearly indicates a range of pay bands with potential incremental rises. The outcome of annual performance management reviews contribute and 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.

Risk management

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

Related party relationships

The following companies are considered related parties:

There are limited transactions between WWF and these companies, any any transactions which have taken place are disclosed within these accounts.

Page 6

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Plans for future periods

WWF are committed to delivering a comprehensive and diverse range of programmes and projects aligned to our key strategic aims, which meet the needs of our local community. Our portfolio of P&P’s continues to develop and evolve alongside the changing landscape of society, Wycombe Wanderers Football Club and financial challenges. WWF’s activities during the reporting period in furtherance of these objectives included the following:

Health & Inclusion (Key strategic areas: Health & Well-Being and Inclusion & Cohesion):

Social Inclusion:

Education & Employability:

Page 7

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Plans for future periods (continued)

Sports Participation (Key strategic areas: Performance and Sports Participation):

In addition to the above WWF also delivers a number of activities for, or on behalf of the WWFC, including processing charity requests, organising matchday ball retrievers, matchday activations, organising player appearance requests (a Professional Footballer's Association responsibility for player engagements in the community) and stadium tours. These support the football club to sit at the heart of its community.

Our 2023-26 strategy, accessible via our website www.wycombewanderersfoundation.co.uk outlines the above in more detail.

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 situation 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 8

WYCOMBE WANDERERS FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditor, Barnes Roffe Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Approved by order of the members of the board of Trustees on _______26-Aug-2025 and signed on their behalf by:

Arif Hussain

A Hussain (Chair of Trustees)

Page 9

WYCOMBE WANDERERS FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WYCOMBE WANDERERS FOUNDATION

Opinion

We have audited the financial statements of Wycombe Wanderers Foundation (the 'charity') for the year ended 31 August 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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.

Page 10

WYCOMBE WANDERERS FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WYCOMBE WANDERERS FOUNDATION (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' 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.

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which 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 charity or to cease operations, or have no realistic alternative but to do so.

Page 11

WYCOMBE WANDERERS FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WYCOMBE WANDERERS FOUNDATION (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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 regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities we considered the following:

All relevant laws and regulations identified and areas susceptible to fraud that could have a material effect on the financial statements were communicated. Any instances of non-compliance of non-compliance with laws and regulations identified were considered in our audit approach. The most significant laws and regulations were determined as follows:

Additional audit procedures performed by the audit engagement team included:

The areas that we identified as being susceptible to material mistatement due to fraud were:

Page 12

WYCOMBE WANDERERS FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WYCOMBE WANDERERS FOUNDATION (CONTINUED)

Audit procedures in response to the identified areas above:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Other matters

In the previous accounting period the charity was entitled to an exemption from audit under the Charities Act. Therefore, the prior period financial statements were not subject to an audit.

Use of our report

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

Barnes�Roffe�Audit�Limited.

Barnes Roffe Audit Limited

Chartered Accountants Statutory Auditor Leytonstone House 3 Hanbury Drive London E11 1GA Date: 27-Aug-2025

Barnes Roffe Audit Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 13

WYCOMBE WANDERERS FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
120,545
140,889
261,434
261,503
261,503
(69)
15,343
(69)
15,274		 Unrestricted
funds
2024
£
220,205
627,771
847,976
830,041
830,041
17,935
(646)
17,935
17,289		 Total
funds
2024
£
340,750
768,660
1,109,410
1,091,544
1,091,544
17,866
14,697
17,866
32,563		 Total
funds
2023
£
274,405
515,113
789,518
783,950
783,950
5,568
9,129
5,568
14,697

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 17 to 33 form part of these financial statements.

Page 14

WYCOMBE WANDERERS FOUNDATION

BALANCE SHEET AS AT 31 AUGUST 2024

2024
Note
£
Fixed assets
Tangible assets
10
577
Current assets
Debtors
11
49,936
48,917
Cash at bank and in hand
199,492
130,953
249,428
179,870
Current liabilities
Creditors: amounts falling due within one
year
12
(217,442)
(166,039)
Net current assets
31,986
Total net assets
32,563
Charity funds
Restricted funds
13
15,274
Unrestricted funds
13
17,289
Total funds
32,563
The
financial
statements
were
approved
and
authorised
for
issue
by
the
_______and signed on their behalf by:
26-Aug-2025		 2023
£
866
13,831
14,697
15,343
(646)
14,697
Trustees
on

Arif�Hussain

................................................ A Hussain (Chair of Trustees)

The notes on pages 17 to 33 form part of these financial statements.

Page 15

WYCOMBE WANDERERS FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Net cash provided by financing 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
The notes on pages 17 to 33 form part of these financial statements		 2024
£
68,539
-
-
-
68,539
130,953
199,492		 2023
£
15,259
(1,155)
(1,155)
-
14,104
116,849
130,953

Page 16

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

1. General information

The charity 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 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 revenue streams and net current asset levels, and further details are discussed in the trustees report.

Page 17

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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 expectd useful lives of the assets concerned. Other grants are credited to the Statement of financial activties as the related expenditure is incurred.

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.

Page 18

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

2. Accounting policies (continued)

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 19

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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 20

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

3. Income from donations and legacies

Sponsorships
Donations
Grants
Government grants
Sponsorships
Donations
Grants
Government grants		 Restricted
funds
2024
£
-
-
120,545
-
120,545
Restricted
funds
2023
£
15,080
-
102,863
-
117,943		 Unrestricted
funds
2024
£
106,181
11,492
97,844
4,688
220,205
Unrestricted
funds
2023
£
83,317
4,980
67,290
875
156,462		 Total
funds
2024
£
106,181
11,492
218,389
4,688
340,750
Total
funds
2023
£
98,397
4,980
170,153
875
274,405

4. Income from charitable activities

Sport and educational activities
Sport and educational activities		 Restricted
funds
2024
£
140,889
Restricted
funds
2023
£
54,498		 Unrestricted
funds
2024
£
627,771
Unrestricted
funds
2023
£
460,615		 Total
funds
2024
£
768,660
Total
funds
2023
£
515,113

Page 21

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

5. Analysis of expenditure on charitable activities

Summary by fund type

Sport and educational activities
Sport and educational activities		 Restricted
funds
2024
£
261,503
Restricted
funds
2023
£
172,267		 Unrestricted
funds
2024
£
830,041
Unrestricted
funds
2023
£
611,683		 Total
2024
£
1,091,544
Total
2023
£
783,950

6. Analysis of expenditure by activities

Sport and educational activities
Sport and educational activities		 Activities
undertaken
directly
2024
£
866,524
Activities
undertaken
directly
2023
£
473,077		 Support
costs
2024
£
225,020
Support costs
2023
£
310,873		 Total
funds
2024
£
1,091,544
Total
funds
2023
£
783,950

Page 22

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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
Total 2024
Staff costs
Activity costs
Pitch hire
Football kit and equipment
Prizes and medals
Motor expenses
External staff costs
Advertising
Catering and refreshments
Miscellaneous
Total 2023		 Sport and
educational
activities
2024
£
623,709
49,829
112,805
34,255
6,377
27,939
160
2,039
4,162
5,249
866,524
Sport and
educational
activities
2023
£
286,610
8,224
109,915
12,013
5,823
15,363
27,368
1,326
2,230
4,205
473,077		 Total
funds
2024
£
623,709
49,829
112,805
34,255
6,377
27,939
160
2,039
4,162
5,249
866,524
Total
funds
2023
£
286,610
8,224
109,915
12,013
5,823
15,363
27,368
1,326
2,230
4,205
473,077

Page 23

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Miscellaneous
Telephone and IT support
Print, post and stationery
Bank and credit card charges
Accountancy and other services
Legal fees
Insurance
HR and recruitment costs
Management fees
Provision for doubtful debts
Total 2024		 Sport and
educational
activities
2024
£
133,443
289
6
5,763
204
1,008
35,978
4,784
1,945
3,099
16,400
22,101
225,020		 Total
funds
2024
£
133,443
289
6
5,763
204
1,008
35,978
4,784
1,945
3,099
16,400
22,101
225,020

Page 24

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

6. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

7.

Staff costs
Depreciation
Telephone and IT support
Print, post and stationery
Bank and credit card charges
Accountancy and other services
Legal fees
Independent examiners' cost
Accomodation costs
Insurance
HR and recruitment costs
Total 2023
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's Independent Examiner
The review of the Charity's annual accounts		 Sport and
educational
activities
2023
£
243,776
327
7,175
3,670
592
40,597
5,159
3,180
3,765
1,202
1,430
310,873
2024
£
5,000
-		 Total
funds
2023
£
243,776
327
7,175
3,670
592
40,597
5,159
3,180
3,765
1,202
1,430
310,873
2023
£
-
3,804

Page 25

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
685,057
51,563
20,532
757,152		 2023
£
485,763
34,536
10,087
530,386

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

Direct charitable
Coaches
Administration		 2024
No.
24
9
1
34		 2023
No.
17
9
1
27

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

In the band £70,001 - £80,000

2024 2023
No. No.
1 -

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 £273,615 (2023: £243,777).

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 August 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 26

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

10. Tangible fixed assets

Cost or valuation
At 1 September 2023
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023
11.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2024
£
48,545
-
1,391
49,936		 Computer
equipment
£
1,155
1,155
289
289
578
577
866
2023
£
28,410
8,855
11,652
48,917

Page 27

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

12. 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 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
31,386
10,775
4,403
170,878
217,442
2024
£
104,562
116,793
(104,562)
116,793		 2023
£
10,447
10,777
1,210
143,605
166,039
2023
£
81,455
104,562
(81,455)
104,562

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

Page 28

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds
Restricted funds
Lord Wandsworth
Age UK Walking Football
StreetGames - Youth Intervention
Twinning project
Premier League Primary Stars
Premier League Kicks
GULP
Rothschild
HAF Projects
John Lewis E&E fund
Walking football
Total of funds		 Balance at 1
September
2023
£
(646)
4,080
3,000
8,263
-
-
-
-
-
-
-
-
15,343
14,697		 Income
£
847,976
-
-
1,188
2,500
35,125
39,105
25,000
100,000
38,368
1,333
18,815
261,434
1,109,410		 Expenditure
£
Balance at 31
August 2024
£
(830,041)
17,289
-
4,080
-
3,000
(1,257)
8,194
(2,500)
-
(35,125)
-
(39,105)
-
(25,000)
-
(100,000)
-
(38,368)
-
(1,333)
-
(18,815)
-
(261,503)
15,274
(1,091,544)
32,563

Page 29

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds
Restricted funds
Looked After Children
Lord Wandsworth
Twinning project
HAF Projects
HM Prison & Probation service BAME
Age UK Walking Football
POW
FL Primary Stars
Gulp
Menopause Workshop
StreetGames - Youth Intervention
Premier League Kicks
PL Kicks LEAP
Warm Hub
Dreams (Warm Hub)
Rothschild
Football stadium improvement
Skateboarding Project
Total of funds		 Balance at
1 September
2022
£
(6,040)
-
-
-
-
9,112
-
840
180
-
-
-
-
-
-
-
-
3,824
1,213
15,169
9,129		 Income
£
617,077
4,776
4,080
5,000
39,944
-
7,562
-
35,000
2,850
2,000
16,263
35,000
1,188
4,100
3,673
11,005
-
-
172,441
789,518		 Expenditure
£
(611,683)
(4,776)
-
(5,000)
(39,944)
(9,112)
(4,562)
(840)
(35,180)
(2,850)
(2,000)
(8,000)
(35,000)
(1,188)
(4,100)
(3,673)
(11,005)
(3,824)
(1,213)
(172,267)
(783,950)		 Balance at
31 August
2023
£
(646)
-
4,080
-
-
-
3,000
-
-
-
-
8,263
-
-
-
-
-
-
-
15,343
14,697

Page 30

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

13. 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.

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.

14. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
£
-
15,274
-
15,274		 Unrestricted
funds
2024
£
577
234,154
(217,442)
17,289		 Total
funds
2024
£
577
249,428
(217,442)
32,563

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
-
15,343
-
15,343		 Unrestricted
funds
2023
£
866
164,527
(166,039)
(646)		 Total
funds
2023
£
866
179,870
(166,039)
14,697

Page 31

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

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

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities		 2024
£
17,866
289
(23,120)
51,803
46,838		 2023
£
5,568
327
15,795
(6,431)
15,259

16. Analysis of cash and cash equivalents

2024 2023
£ £
Cash in hand 199,492 130,953

17. Analysis of changes in net debt

At 1
September At 31 August
2023 Cash flows 2024
£ £ £
Cash at bank and in hand 130,953 68,539 199,492

18. 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 £12,194 (2023 - £10,087). Contributions totalling £3,099 (2023 - £1,651) were payable to the fund at the balance sheet date and are included in creditors.

Page 32

WYCOMBE WANDERERS FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

19. Related party transactions

The Foundation incurs costs from Wycombe Wanderers Football Club to cover office running costs. For 2024 these amounted to £16,400 (2023 - £9,412). At 31 August 2024, Foundation owed the Club £3,163 (2023 - £1,367).

Page 33