Charity numb•r. 1120214 Company Nunknr. 06148015 R•port of th? T$t and Flnandal Stal•m•nts For th• ye•rended 30 2023 4ACYJ8EEP* 0910312024 CCXIPANIES HOUSE A11
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Th• Ch•ls•a Players Tt C¢)ntwt8 Page Tru51eg5' rewt Independent eXomin•rs' r ststemenl of finK> activithes Balan sheet Note5 to the financial staternents 9-13
Th• Ch$a Plwrn Trus¢ Trustees, report Fof lh• y•ar ended 30 Jun• 2023 The Trusl88s prasent their ffjp>l (rf the tharity year eThJed 30 June 2023. TTUStoes have gdopted the provisions of the Statement ul Re¢xxnrnended Practice ISORPI "knwitsrvj and Rep)rting ty Ch¥iti6s" IFRS 1021 in preparing the annual r8POrt and financi statements. The finKial Statnents have begn prgpa(gd in acgtydaru 7th the acrwntiThJ poleS set out in notes to the accounts and comply ith the charity's LTherr¥r#J do¢wnenL Cknaribes A¢a 2011 and Accounting aThJ Reportin9 by Charilies.. Statement of Recommended PradK¢ applicaLrfe lo tharilres preparwwJ their accounts cdan ilh the Finan¢ial Reporbrvj Standard appli¢able in the UK ReP41C of Irejand. PRINCIPLE ACTMTY The prinapal actiwty Chanty is lo relitswe in Cases ol nwj. hwdthip or distress Fwsons who are or h8ve been employ&J or engaged by Chelsea FC plc or its assooaled entitie& OBJECTIVES AND ACTMTIES Obiectives and alms Thg objecls of the Ch we lo relierfe in cS of need. hartslmp or distress persons aro or have boen pIoy8d or gaged by Chelsea FC plc, or its aSslated tleS and famili$s ond endentS of su( persons induding. but V4ithout limitation. any pers$ TA1 1$ or has been a player, man¥Jer or member d lh¢ rn11. coaching OutIng stalf at first le. reserve team academy Ie1. Grant Maklng The Charity invites applicali(m for grants and eath applicab 1$ by Iho T(18e5 agalr1 the o*'eclives of the Charity. Thro its grant makiry athibe5, charity furthe ils djjeds an prtyidgs public efIt. Achievement and p•rfomianc• The Chelsea Players. Tmst ojntinues to fiThJiry ar#J fc¥ aWTent arKI lofflier r4ayws. particularfy those have lallen hwd brnes. enablng us to gr4e back to tkb)se vtho help mako Ihis vkbat it is
Th• Ch•lsea Pl*yern Trnst Tru$t•os' r•port (Conl For Iho yoar onded 30 J• 2023 FINANCIAL REVIEW R•s•r¥•s poll¢y The Trte¢S have review the rer¥$ of Charlty and consi(kred the level of reserves il is appropriate for the Charity lo hold lo ensure it is pIded with finalrial ftexibih.ty WKI a cthshion against any futu shor1faS irt income. The levd rA free re5er¥es al 30 June 2023 £177.837 {2022: £167.7451. al d wthich is unrestrided. The twstÈès consider tIMs level of free reserves satisfactY to meet frJture donakn. The tnJ#ee$ walLth pn)posed donaliorKs cautiously havin9 rogard f¢yfLws availatAe. bolh currenljy and in the futwe. Inv•slm•nt Pollcy The Trustees h8¥• to iTr4est the furvts as ty se8 fl as set out in the Memorandum ¥NI ArtK4e$ of Associ8ti0n. Futur• D•v•lopm•nt The IrLLslees Vlill c£tinUe lo seek out and assist beneffioarie& tIM)se whom the tntst ha5 already mado grarts. Golng Conc•m The Trustees have a reasonable expectati( that the tharity has •dtyualg resources lo continue in operational •xistèn¢e fof foreseeatAe future. F this reason. tlw continue to #dopt thè png concem bass in preparing the ffinanaat statanen
The Chels•• Hyern TNst Trustes' feport (C41nthuodJ Foi thè
r ended 311 June 2023
Registered Charity NLrnW. R¢gi$tered C(¥npany Numbor. Registwed office: 1120214 06148015 stam Bridge Grour¥l. Fhn Road. Lon(h)n. SW6 1HS TNst••$ The trustees who served th¢ ¢haiity thJriThJ the wiod 8$ fdl(MS.' Neil Bath Emma Hayes Flchard Damian D Finkelstein (y#nled 08 Febru¥y 20231 Our advlsors Ex8mirt•rn' H•nes Wats 17 Que5 Lane. . NE1 1RN Bankers Bartljys Bank Pal W CryFrfy Bar&kir£ Centre. 50 Pall M1. Ltxvkn, SW1A 1a4 Soli¢>ltys Mud(le LLP 32 Galo•Jale. NtKastle Tyne. NE148F Goveming d¢)cuThnt oryaAi2otion 13 a charitsblè canwy. Ivniled by war8nt•o. on 9 M•r¢h 2007 aThJ wister as a charity on 24 thAy 2(XJ7. The charity 4Yas estish&J undw a MeMtruffl crfAs9xiati Vthh adcyted the objects d p0r5 of the thwitable comparry arKI is g(wemed uThJer its Artides of Awiation. each a5 amerthd by sp•cial fesolulion on 5 December 2017. The nne d the Ch•ity was by speoal OlutiOn passad 16 OctobeT 2019 ¥nd tho certificate r1irwwporat1c on de d nwne wa5 i5W8d 6 Febnw 2020. Oryanlsatlanal stru¢turn The ffinanLial ststwxents crynply umnt alu requirements. the mwnorandum and aiticles cl asso¢ialion and the Statemont of Re¢rynmernled Prxtrce - Accountir¥J arml Reporting by Charilios. The trustees meet on an ad hoc basis to rv4iew a1 assess donation requests forOI10ft$ frtyn the Chanty.
The Ch•lsea PlayM¥ Trust Twstees, report (Contth For the year end•d 30 2023 Appointment of Iryst¢ As sel out in the e5 of As5ry>ation, Trustees inviled to icn Bowd. At Igast ono Trustee musl be a dhredor or employee d Chejsea FC {. Inducllon and tralnlry of trust•4s On arwinlment. trustees undertake an induct proJramme that indth lanilarisation with the pwposes and operation of the Charity. its 5trateges and its ot4eciv¢s. Thtre 1$ ¢wrenlly rK) orwJ(Mng training proJTamme for Tru51ee5. Relatsd Partlos Che1 Footb Club pk {CFC) has Charity fThnciaty lwah logistical. a¢UnI11Y4 ond administration supptyi leT tr year. Risk hlanagement The Trustees have a lis% mwwmenl Strategy ly( Ixjmprises". An annugl review of the risks the charity rnwface: The eSial$hmont d sysiems and procedures to miligale those risks Idled in the n,' ¥rKI The impf•m8ntion crf prttedures desyiod to MiraSe any potenti* impact on the Charity should fi$k$ maleriali5¢.
Th• Ch•ls•a Play•rn Yru¥t Trustees. report (ContpxK For th• •ar •nd•d 30 June 2023 STATEMENT OF TRUSTEES RESPOIISI8ILmES The trustees Iwl•) are 4150 thr¢¢ttys Chelsea Prs Trttsl purpK)ses of e¢xnpany lawl are responsible for prèparing the Llrectors. reimyi and the finanoal statemerts in wth applica• law and United lfjngdthn Ac£ountir¥J Slandards {Uniled IfjWn Gewalty A>¥ed Praclicel. CnPanY1•W requires the truees to Prep fmanrAal StatUne lor eath financial year gNe a tru• and fair view of Ihe State of affars of the charitatle (xrfnpany al of lh8 incning res0 and applIcatic of resources. induding the incorne eXpentU. ckn"taIe c(xnp¥ry for that pOrK. In preparing th finwKial statements. the trusteès are requiftd to: s•l8et suitable #¢xwnling potKies and then appty them &51ent1Y,. observe Ihe methods 8nd prirriples in the Charibes SORP 2015 {FRS 102): mak8 judgements and estwnales that r¢ason arml Prlen¢. stale vthethef appliCae UK AcCn"4 Sl¥ttJ•rds ha¥• be folkyJ. ts11 to any m8iwral depart¢$ disclosed and explained in thè financial ststements". pPa the finanu81 stslements cn the n9 corwn basis unless inappropriate to prgsume that the ¢haritsble company ill Contin in opeTaiJn. The trnstees are resp(msble for keerj odeqLth a¢ot th•t disdose with re45rffiable accuracy at any time the financial pOl0ft ol the charitabte ctsnpary and enawe to ensure that the finarbrial statements comply ith the CornpwMe5 Act 2Q)6. are dso respible f(K 5afegLwrding the ass8ts ol the charitable c(Ynp8ny oTrJ hencè for18king reasonable steps for the pThention aThl detecti of fra and othèr irwulariliès. So lar as each d the trusl•es is a¥Ydf8 at tl b.rne the W 1$ ed.. therg 1$ no fdthfart audit infomiity) of ¥¢h th& th8rilatts nPS aJItorS are unaware. and the Irustees hwe token 1 steps Ihal they ought to have taken to makè thMeaS avoro of ary rolwant audit inf0mtion and lo estat4ish that the a*t0[S are •vare of thal inf(aOn. ved tythgtrusleesfM.... ... .. 2024 and signed its behalf. ty. D Finkelstein Twstee
Th• Chalsea Player Tru•t Independent Éxamhrfs R¢port to the Tvustees olTh• Chdsea Play•rs Trust For the y•ar ended 30 Je 2023 I r¢porl to Ih• ¢Pwity Irwl•gs on my exaninatM)n rj ts XClAmts of the charity for the year ended 30 June 2023 vthich are set out on p4es 7 to 13. Responsibilities and basis of report As Ihe tharity trustees Y we resp(Yw"ble Fveparalth of accounts in accordance with the requiments of the Charitie$ Act 2011 Ilhe 2011 A¢r). I rewt in respect of my exarnination d the cariWs acCots carried cwt under se¢bon 145 of (he Ad and In ¢¥rrying out my exl'0 I have fd101 all the iGable DIre¢ln$ giThi by th& Ctsrity Cunmission under se¢tion 145lSllbl of fv Ad. Independent examinerf$ statemmt I have completed my èxamination. l cOrmI that rK• m•teri41 matters he CL¥ne to my attention in c(fflnectwJn %wth the examinabon sivry me caLLqe to e¥e that in any mrial resFed'. . 8ceounling wert Th)t kept tn respc¢ d Ihe as retyAred by srftion 130 rf ts Ad: or 2. the a¢¢¢1$ do not 8c¢ord wilh ihose rawds". or 3. the accounts do nol comply Yth the applicatde reqreM cmming the forn and ctrlent of a¢¢ounts ¥et out in Ihe chariti (l£cots arKI Repryts) Regulati$ 2008 dher than any r4uirem•nt that the aeeauhts and farvithrf ¥knich is not a matter COdered as part of an independent examination. I have no ¢(¥Kwns and have r3yne a(yoss no otlw matters in with thè exInatiOn to which attention ShOd be drnvm in tro5 report in ordw to enat48 8 Kryer of th8 actounis to bo rnxhed. H•ln•s Waits Chart•r•d knuntants & St•tutory dItO 17 Queens La Ne4Me UF)n Tyne NE11RN
The Chelsea Play•w¥ Tn Statement of Flnan¢l*l Acti¥ftles For the year ended 30 JIM 2023 TOL 2023 Total 2022 funds funds Notss Incom• from: Donations Inves1mt inc(¥ne 1.647 1.647 51,647 51.647 Expendliure on: Charilable acbvibe5 41.555 41,555 3.699 41.555 41.555 3,699 N•1 mov•m•nt in funds 10,IJ92 10,092 { 3.6991 Reconcifiatlon of lunds Total lunds brought foNA 167.745 167.745 171,444 Tot•1 funds carrfed forw•rd 177.837 177.837 167.745 Al Income 8tKI e¥peThliture èli#en frc¥n cffilrniing &tpiitie&
Th• chels Playern Trust Balance Sheet As at 30 June 2023 2023 2022 Current ass•ts Debtors Cash 81 bank and in hand 37,432 140.405 283.138 177.837 283.138 Crndi¢ors: gmowtsfdling due (115.3931 177,837 167.745 Net a89•18 171.837 167,745 Funds Ufveslncted 177.837 167.745 Th• ccthpany is •ntitled to frrm th¢ a111 r4urnm•nt conl&ned in section 477 d the CpanIeS Act 2006. for the year wded 30 Je 20rJ. Truste8s ackncMle¢Yg8 their reonbilib"fjS fty ensuring that ts Charity keeps arLounting recuds lch comply ith section 386 crf tho Act and for wepariThJ fina1 slatements ¥0 a Iru8 aThJ fail view of the state of affairs of the as at the end d Ihtr finan¢i year al of its irKtyniThJ reswr¢85 and appli¢ation of fesoureas. including its irune •ThJ 4¥pu11¢. for thè finaThxal year in a¢¢#¢ ilh lh• r4LMi8m8nts of s•di¢)ns 394 and 395 wthich otheTh%ise comply Mith the I[emen1S d the Companies Act 21KJ6 rehing to the fKwiaal statements, so far as apFAicable to the c(thpany. The rnernbers have Thjt requred the crAnpany to obtain au¢tht of its financial statwnents for the ye¥ In qLWtKM In cttdanc¥ w4lh Sectir 476. T ffinanciol stalem•nts have been wep¥8d in ac(xxdaa ith ihe pwsicffi5 applicable to ctJnpanies subject to th8 smal ¢ompantes regKn8. The finar£iAI slatunenls wère e by the truslees on ........ . 2024 and syied ffi ther behaff by: D Finkelstein Trustee Company Number. 06148015
Th• Ch•lg•a Playms frust Not•s to th• financial slat•m•nts For th• y•ar •nd•d 30 June 2023 AGCOUntlng Poli¢ioS The Chelsea Playws. Tn1 is a prN• c4Jnpany Ibmhtwj lry wante¢ ICcmpar48$ No. 061480151 and registered charity (Registered Charity No. 11202141. 11 1$ irKorporaled ar doxi¢tled in Er4Jland ar#J Wale5. The regtstered crfftce rs Stamford Bridge. Road. Lon(kn. SW6 1HS. UK 1.1 Basis of ae¢ountsng The charity cltu$ a putAl¢ b¢rfft entity 8$ deffin by the FRS 102. The finano¥al stslements have ten prepared in accordan(% ¥•ith A(xounb"ng aThJ by Charitigs.. Statement of Re¢onmendod Pr&ti applicat4e to chwities preparing t( a¢xounts in adae ilh thg Financial Repon9 StawKlard applicable in the UK ond Reie of Irrhd IFRS 1021 i8wed in O¢Xober 2019. the Final Rewting Standard applicat4e in ts United Kil •rKI Rtl¢ of I¥j (FRS 102), the Charilies Act 2011, and UK Generally Accepted AccwntirvJ Pradi¢e. The finanaal stattynenls hwe ten w8p¥¢d to give a In ¥ryl fairf view al have departed from the Charities (Accounts and Rep&ts) Regulolicrt 2C only to the extent re9ed lo pro¥Nle a Yrue and fair viev¥. This departure has invdved f11j the Accounting Reporting by chtieS.. Slatement of Reccthmend•d Pr•¢ti¢e applcaile to ¢harilies pre their acc4)unts in Cdance With the Financi4 Repytsn9 Standard applicat4e in the UK Re1¢ {FRS 11Y2) on 16 Juty 2014 rather than the Aco)untiTrJ and Reportirvj by Charitiès: Stalem•nt d RecLMThxanded Prxlic• ff¢thie frryn 1 Apn'l 2005 thich has sirKe been thdrawn. The finanaal slatemtnts arn prnpartyj m a 90ir•J wder histtyi¢al cost CCYNention, modified to indude certain items at fair vu•. The financi knents ar¢ pr¢sentj in sterfing is the furKtion curron¢y d the charity •rKJ rourvjed to the rwrest £. The sgnfficant aceounling p)IicA•S applied in the poparJliM these finana4 st8lwnents are set cwt below. These licIeS have been c4)nsistenUy applied to * yeats prèsented llesS OtMMise stated. 1.2 Golng con¢¢m financial slatemenls have been pwaTrd cffj a Ing ¢cmcern basis a5 ihe trustees bglieve thal no materid Uncertai$ exisl. Thè tntstees have ¢<m51(kr the level5 of ld$ 1 and the expected level of income and expenditwe for 12 mLMlhs Irc¥n authorising these finanual stalern8nts. 1.3 Fund a¢courtting UestrICted lunds are wailat4e fLY US• * the ixrelicn trust8es in fWV1ar of the gener410.$cV8S of thè ¢harity aThJ have not been (le9gnaa for 0th8r pures. Restricted fimds * funds vthich are to be used in accordarKe with speriC restricti imposed by donors or ich have been raised by the charity purpose& The cnst of rasng and ¥dmirbi*ering such funds are charyed •Jainsl specthc furKI. The wn WKI use ol &ich restiithd fwml 1$ set out in the notes to financial slalttnents.
The Ch•lsea Players Trust Notes lo th• lkn•nclal stat•m•nts (C•nthx For the ytsr ended 30 Jun• 2023 IA In¢omlng resouff All incomirvJ re50urts$ are indd in th8 Statamert rj Fina1 ALvthies the chwity has entiuemenl to the fund5. perfornance cor•Jiiions hwe been rnet. the Can be measured rn14a #nd It Is probable that the incL¥ne il be received 1.5 Expendllur• l expenditw8 is a0j for on an aGcnS tAsis aThl has been dassfd ur¥Jer h¢adings Ihal aggrègale all costs related to the catwry. ExpeThlitwe 15 rec(4Jr¥5ed vtherè thtre ts è le9 or constwctNe obligation to make payments to third parties. it is probable that the settIWnt will bB required and the OUn1 of the obligation ¢an be meawred lIab. Irr¢coY8rable VAT is charg8d ayarnst th• cost against expend¢ture th•ch zs incurred. 1.6 O•btors Debtors are measu1 initia rec(snib at setu1 any tradè distsxM)ts or amount anced by the ¢&h. rneasu at eash or cthèr ec•isideration exPted to te received. 1.7 Cash at bank and in hd Cash at bank and cash in ha1 iThJLJe5 cash and shcfft tern higNy liqwd irh¥estments v•ilh instant access from the date of opeThng of the depost or similar accJ)unt. 1.8 Cr•dltots and pffjvl$lons Creditors 8twY provisions are wlsed wtwe the Charity IS a present oblig10 resulling a past event that probaity result in transfer of funds ¢0 a thirt party aTrJ Ihe 0nt due to settle the otligaiion can be meagured or es¢wn8ted reli8W. Crndrtors and a Tr)rmalfy reco3nised at their seluemenl after allowing for any trade disctyAS due. 1.9 Flnanclal Instrurnwbts charity Y has assets aryj firwKial lialyfjbes rf• kind Ihal qlrfY as Imsic finan¢4al instnKnents. Basic finanri4 iFtrLments are inilialy recognised 01 tfansacbon value and subsequently measured al Iheir setllement vaue ith the excgplion d bank lo vknbch are %uentlY meawred at amortised cost ustng the eff¢¢tNe interest mdfr)J. 10
Th• Ch•ls•a Players Trust Nots$ to the finan¢lal stal•m•nts Foi thè ytar ended 30 Junt 2023 Ine( 2022 Donation$ and Lggaoos SO.C4)0 Investrnent Incoffle 2023 2022 Bank inleTest 1.647 Exp•ndltyr• lknf•stri¢W Total fvnd$ 2023 Total 2022 Charllabl• a¢tl¥llA•s Medical Bllls Genèral Exper 12.249 29.306 12.249 29.306 3.699 41.555 41.555 3,699 Trnstées None of the TrLths (K any pwsons ¢onne¢ted r1ve0 rnmwrafy. ty berfrts frtyn tr Trusl durir4J the Employ•os There re no amFloyS dLfifWJ Il year. Oebtovs 2023 2022 kno18 due rdated rovties 37.432 Crndltorn: anwunts falllng due *1thSn oft• year 2023 2022 due to related paitios 115,393 11
Th• Chelsea Pl4y•ts Tntyt For the year ended 30 June 21123 Analysis of funds At 1 July 2022 At 30June 2023 Exp•ndlturn Unr•strl¢l•d lund$ General fwKI 167.745 51.647 (41.555 1 177.837 Y8ar•ntY8d30 Jtme 2022 At1Juty At 30June 2022 Ine4>me Expenditure Tran¥f¢ Unr•strl¢t•d fvnd$ GTal fuTh 171.444 { 3,699 ) 167.745 10. Analpls ot n•t as¥•ts brtwn fvnds Yè rended 30 June 2023 Unwe$trf¢tsd Funds Cwrent assets Cwrent liakntsties 177,837 177.837 Unr•5tr1cted Funds Cuff1 assets cUrrt liatilioes 283,138 { 11S,3931 167.745 11. Tre have been no related p•ty trwsaclims durry th• y12022- none). 12
Th• Ch•ls•a Pl•y•rs Twst Not•s to th• financw st•m•nls (Cwjunwo) For th• y••r ended 30 Je 2023 12. Company Umltad by Guarnnt•• The company is limiled by membw5' guwanlees arKI therefore has share caw. Tho guarantee given by m8mbers 1$ limited lo £1. Comparallv• stat•m•Tht of lknancial actl¥ltl•s R•strlcted funds Total Totsl 2021 funds Incom from: Donalions ,000 .000 Exp•ndllurn on: . Raising funds Chwitable aclviities 3.699 38.313 3.699 38.313 N•t rnov•m•nt In funds (3,6991 13,6991 11.687 Re¢1111¢1¢n of funds Total fuNJs brOLht 171.444 171.444 159,757 Tolal funds carrl•d fonward 167.745 167.745 171,444 13