Charity number: 1120214 Company Number: 06148015 The Chelsea Players Trust Report of the Trustees and Flnanclal Statements For the year ended 30 June 2024
The Chelsea Players Trust Contents Pag8 Tru9tees' report Independent examlners, report statement of financlal activitl8S Balance sheet Notes to the financial statements 9-13
The Chelsea Players Trust Trustees, report For the year ended 30 June 2024 The Trustees pr8s8nt their report of the charity for the year ended 30 June 2024. The Trustees have adopled the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reportlng by Charlties. (FRS 102) n preparing the annual report and financSal statements. The flnanclal statements have been pr8par8d In accordan¢8 with the accountlng policies set out In notes lo the accounts and Comply with the charlty's goveming document, the Charities Ad 2011 and Accounting and Reporting by Charlties.. Slat8m8nt of Recommended Practlce applicable to charities preparlng thelr accounts In accordance with the Flnanclal Reportlng Standard appll¢abl8 In th8 UK and Republic of Ireland. PRINCIPLE ACTIVITY The princlpal actlvity of the Charlty Is to relieve In cas8s of need. hardshlp or dlstress persons who are or have been employed or engaged by Ch81soa FC Holdlngs or its assoclated entlties. OBJECTIVES AND ACTIVITIES Oljjectlves and alms The objects of the Charlty are to relleve In Gas68 of need. hardshSp or dlstress persons who are or have been 8mployed or engaged by Chelsea FC plc. or its associated entltles and the famllles and dependents of such persons IncludSng, but without Ilmltatlon, any persons who Is or has been a play8r, manag8r or member of the medlcal, coachlng or scoutlng staff whether at flrst team, reserve team or youth academy18vel. Grant Maklng The Charlly Invltes appllcations for grants and each applicatlon Is revlewed by the Trustees agalnst the objectlves of the Charlty. Through Its grant making activities, the charity furthers its objects an provides public benefit. Achlevement and performance The Chelsea Players, Trust contSnues to provlde fundlng and support for current and former players, partlcularly those who have fallen on hard tlmes. enabling us to glve som8lhing back to Ihose who help make this club what It Is today.
The Chelsea Players Trust Trustees, report (Continued) For the year ended 30 June 2024 FINANCIAL REVIEW Reserves pollcy The Trustee8 have reviewed the reserves of the Charity and considered the level of re8erve8 It18 approprl8te for the Charlty to hold to ensure It Is provlded with financial flexibility and a cushion against any future shortfalls In Income. The level of free reserves at 30 June 2024 was £366,224 (2023.. £177.837), all of whlch Is unrestrlcted. The trustees consider thls level of free reserves satisfactory to meet future donations. The trustees evaluate proposed donatlons cautlously having regard for funds available, both currently and In the futur8. Investment Pollcy The Trust88s have powers to Invest the funds as they see fit. as set out In the Memorandum and Articlgs of Assoclallon, Future Development Th8 trustees wlll conllnu8 to seek out and asslst beneflclarfes, Includlng those whom the trust has already made grants. Golng Concern Th8 Trustees have a reasonable expectallon that th8 Charlty has ad8quat8 resources to conlinu8 In operatlonal exlstence for the foreseeable future. For thls reason, they contlnue to adopt the golng concern basls In preparing the fSnanclal statements.
The Chelsea Players Trust Trustees, report (Contlnued) For the year ended 30 June 2024 Reference and Admlnistratlve Detalls Reglstared Charity Number: Reglstered Company Number: Registered Office: 1120214 06148015 Stamford Brldge Ground. Fulham Road, London, SW6 1 HS Trustees The Irustaes who served the Charity during the period were as follows; Neil Bath Emma Hayes Rlchard Damlan Klng D Flnk815tein Dr Julian Redhead (Reslgned 23 January 2024) (Appointèd 08 May 2024) Our advlsors Examlners, Evelyn Newcastle Llmlted 17 Queens Lane, NewcaSe, NE11RN Bankers Barclays Bank 1QA Pall Mall Corporate Banklng Centre. 50 Pall Mall, London, SW1A structure, Governance and Management Govornlng document The organlzatlon Is a charitable company. Ilmlted by guarantee, Incorporated on 9 March 2007 and reglstered as a charity on 24 July 2007. The charity was established under a Memorandum of Association whlch adopted th8 objects and powers of the charitable company and Is governed under Its ArtIcS of Assoclatlon, each as amended by speclal resolullon on 5 December 2017. The name of the Charity was changed by speclal resolution passed on 16 October 2019 and the certificate of incorporation on change of nam8 was Issued 6 February 2020. Organlsatlonal structure The financial statements compty wlth the current statutory requirements. the memorandum and artlcles of association and the Statement of Recommended Practice Accounting and Reporting by Charltles. The trustees me8t on an ad hoc basis to revlew and assess donatlon requests for donatlons from the Charity.
The Chelsea Players Trust Trustees, report (Contlnued) For the ear ended 30 June 2024 Appointment of trustees As set out In the Artlcles of Association. Twstees are Invited to join the Board. At least one Trustee must be a dlrector or employoe of Chelsea FC Holdings Llmited. Induction and tralnlng of trustees On appointment, trustees undertake an Inductlon programme that Includes famlllarlsatlon wlth the purposes and operation of the Charity, its strategies and its objectives. There is currently no ongolng tralnlng programme for Trustees. Related Parties Chelsea FC Holdings Limited (CFC) has supported the Charity both financially and through logistical, accountlng and admlnlstration support over the year. R15k Management The Trustees have 8 rlsk management strategy whlch comprlses: An annual revlew of the risks the charity mlght face; The eslabllshment of systems and procedur8S to mltlgat8 those rlsks Identifl8d In the plan,, and The Implementatlon of procedures designed to mlnlmlse any pot8ntlal Impact on the Charlty should those rlsks materlallsa.
The Chelsea Players Trust Trustees, reporl (Continuod) For tho yoar ended 30 June 2024 STATEMENT OF TRUSTEES RESPONSIBILITIES The truste8s (who are also directors of the Chelsea Players Trust for the purposes of company law) are responsible for preparing tha Directors. report and the financlal statements in accordance with applicable law and Unlt8d Kinodnm Ar,rniintino Standard8 {lJnitftd Kinodnm C7finprally ArKRptftd Ar.rniJnling Prac.tlr). Company law requlres th8 trust8es to prepare financlal statements for each flnancial year whlch glva a true and falr vlew of the state of affalrs of the charitable company and of Ihe Incoming resources and applScallon of resources, Includlng th8 incom8 and expenditure, of the charltable company for that perlod. In preparlng these flnanclal statements, the trustees are requlred to: select suitable accounllng policies and then apply them consistently: observe the methods and prlnclples In the Charltles SORP 2015 {FRS 102); make judgements and estlmates that are reasonable and prudent. state whether applicable UK Accounting Slandards have been followed, subject to any materlal departur8S dlsclosed and explaln8d In the financlal statemenls: prepare the flnanclal statements on the golng concern basls unless It Is inapproprla18 to presume that the charltable company wlll contlnue In operatlon. Th8 trustees are responslble for keeplng adequat8 accounting records that dlsclos8 wlth reasonable accuracy at any Ilme the financlal posltion of the charitable company and enabl8 them to ensure that the flnanclal statements comply wllh th8 Compani8s Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the preventlon and detection of fraud and other Irregularitles. So far as each of the trustees Is aware at the tlme the report Ss approved: there Is no relevant audit Informatlon of whl¢h the charitable company's audltors are unaware, and the trustees have taken all steps that they ought to have taken to mak8 themselves aware of any relevant audlt Informatlon and to establish thal the audltors are awara of that Information. Thls re e trustees on 202¥and slgned on Its behalf, by: D Flnk8lstein Trustee
The Chelsea Players Trust Independent Examlner's Report to the Trustees of The Chelsea Players Trust For the year ended 30 June 2024 I report to the charity trustees on my examlnation of the accounts of the charlty for the year ended 30 June 2024 whlch are set out on pages 7 to 13. Responsibllilles and basls of report As the charlty trustees you are responslble for the preparatlon of the accounts In accordance wlth the raqulrements of the Charities Act 2011 {'the 2011 Act.). I report In respect of my examination of the charws accounts carri8d out under s8Ction 145 of the Act and In carrylng out my examlnalion I have followed all the applicable Directions glven by the Charity Commlsslon under sectlon 145(51{b) of the Act. Independant examlner's statement I hav8 completed my examlnatlon. I confimi that no materlal matters have come to my attentlon In connectlon wlth the examination giving me cause to bellev8 Ihat In any material respect: accounting records were not kept In respect of the Gharlly as required by sectlon 130 of the Act. or 2. the accounts do not accord with those records,. or 3. the aGcounts do not comply with the appllcable requlr8ments concemlng the form and content of accounts set out In th8 Charltles (Accounts and Reports) Regulatlons 2008 other than any requlrement that th8 accounts glve a 'true and falr vlew, which Is not a matter consldered as part of an Independent examinatlon. I have no concerns and have come across no other matters In connectlon wlth the examlnation to whlch altentlon should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Evelyn Partners Newcastle Llmlted Chartered Accountants & Statutory Audltors 17 Queens Lane Newcastle upon Tyne NE11RN
The Chelsea Players Trust Statement of Flnanclal Actlvltles For the year ended 30 June 2024 Unrestrlcted funds Restrlcled funds Total 2024 Total 2023 Notes Income trom: Donatlons Investment Income 243,040 5,654 243,040 5,654 50,000 1,647 248.694 248,694 51.647 Expendlture on.. Charitable actlvltles 60,307 60,307 41,555 60,307 60.307 41,555 Net movemont In funds 188,387 188,387 10,092 Reconclllatlon of funds Total funds brought forward 177.837 177,837 167.745 Total funds Carrled fonKard 366,224 366,224 177,837 All income and 8xpendlture has arlsen from contlnulng actlvlties.
The Chelsea Players Trust Balance Sheet As at 30 June 2024 2024 2023 Notes Current assets Debtors Cash at bank and in hand 276.584 89.640 37.432 140.405 366,224 177,837 Cr8dltors: amounts falllng due wllhln on8 year Net current assets 366,224 177,837 Net assets 366,224 177,837 Funds 366,224 177,837 The notes form part of these financlal stat8m8nts The company Is entltled to the ex8mptlon from the audlt requlrem8nt contalned In sectlon 477 of the Companles Act 2006, for the year ended 30 June 2024. The Trustees acknowledge thelr responslblllties for ensurlng that the charlty keeps accountlng records whlch comply wSth sectlon 386 of the Act and for preparfng financlal statements whlch glve a true and fair vlew of the State of affalrs of the company as at th8 end of the flnancial year arKI of Its incoming r6sources and appllcatlon of resources, Including Its Incom8 and expenditure, for the financlal year in accordanc8 Wlth the requlrements of sections 394 and 395 whlch otheNlse comply wlth the requlrements of the Companles Act 2006 relatlng to th8 flnancial stat8ments, so far as appllcable to the company. The members have not required the company to obtaln an audit of its financial statements for the year In questlon In accordance wlth section 476. These flnanclal statements have been prepared in accordance wlth the provlslons applicable lo companles subject to tha small companies reglme. The fln le approved by the trustees on .i.¢...-.!Lw4rf_< J 2024and slgned on thelr behalf by.. D Flnkelstein Trustee Company Number: 06148015
The Chelsea Players Trust Notes lo the flnanclal slatements For the year ended 30 June 2024 Accountlng Pollcles The Chelsea Players, Trust is a private company Ilmlted by guarantee (Companles Hous8 No. 06148015) and a registered charity (Reglstered Charity No. 1120214}. It Is incorporated and domlclled In England and Wales. I he reglst8rad ottlce15 è>tamtord Urldge. Fulham Road, London, SW6 1 HS. UK. 1.1 Basls of accountlng Th8 charlty constitutes a public benefit entity as defined by the FRS 102. The financial statements have been prepared In accordance wlth Accountlng and Reportlng by Charities: Statement of Recommended Practlce appllcab181o charltles preparlng thelr accounts In accordance wlth th8 Flnanclal Reportlng Standard appllcable In Ihe UK and Republlc of Ireland (FRS 102) Issued In October 2019, the FlnanGlal R8porting Standard appllcable In the Unlt8d Klngdom and Republic of Ireland (FRS 102). the Charltles Act 2011, and UK G8n8rally Accepted Accounting Practlce. Th8 financlal statements have been prepared lo glve a 'true and falrf vlew and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent requlred to provid8 a 'true and falr view,. Thls departure has Involved followlng the Accounting and Reportlng by CharS1ies: Statement of Recommended Practlce appllcable to charltles preparlng thelr accounts In accordance wlth the Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) issued on 16 July 2014 rather than the Accountlng and Reporting by Charities.. Statement of Recommended Practlce effective from 1 April 2005 which has slnce b8en wlthdrawn. The flnanclal statements are prepared on a golng concern basls under th8 hlstodcal cost convention, modlfied to Include certaln Items at falr value. The financlal statements are presented In sterllng whlGh Is the functlonal currency of the charity and rounded to the nearest £. The slgnificant accountlng pollcl8s applled In the preparation of these financlal statements are set out below. These policies have been conslstently applled to all years presented unless otherwlse stated. 1.2 Golng concorn The financlal statements have been pr8pared on a going concern basi5 as the trustees believe that no materlal uncertainties exist. The trustees have considered the levels of funds held and the 8XP8Cted level of Income and expendilure for 12 Tnonths from authorising these financlal statem8nts. 1.3 Fund accountlng Unrestricted funds are avallable for use at the discretlon of the twstees in furtherance of the general objecllves of the charlty and whlch have not been designated for other purposes. Restrlcted funds are funds which are to be used In accordance with speclflc restrictlons imposed by donors or which have been raised by the charity for partlcular purposes. The cost of raising and administering such funds are charged against the specific fund. The alm and use of each restricted fund Is set out in the notes to the financial statements.
The Chelsea Players Trust Notes to the flnanclal stalements {ContinuedJ For the year ended 30 June 2024 1.4 Incomlng resources All incomlng resources are Included In the Statement of Flnancial Actlvlties when the charity has entitlement to the funds. any performance conditions have been met. the amount can be measured reliably and il is probable that the income will be received 1.5 Expenditure All axpandlture Is accounted for on an accruals basis and has been classified under headlngs that aggregate all costs related to the category. Expenditure Ss r8cognlsed where there Is 8 legal or constructive obllgatlon to make payments to thlrd partles, It Is probable that the settlement will be requir8d and the amount of the obllgatlon can be m8asurgd rellably. Irr8cov8rable VAT Is charged against the cost agalnst the expenditur8 whlch was Incurred. 1.6 Debtors Debtors are measured on Inltlal recognlllon at settlement amount aft8r any trade dlscounts or amount advanced by the charlty. Subsequently. they are measured al the cash or other conslderatlon expected to be received, 1.7 Cash al bank and In hand Cash at bank and cash In hand Indudes cash and short tenn highly liquld Investments with Instant access from Ihe date of openlng of the deposlt or slmllar account. 1.8 Credltors and provlslons Creditors and provlslons ere recognls8d where the charity has a present obllgatlon resulting from a past event that wlll probably result In the transfer of funds to a third party and the amount due to settle the obllgatlon can be m8asured or estlmated rellably. Credltors and provlslons are normally recognlsed at thelr settlement after allowing for any trade dlscounts due. 1.9 Flnanclal Instruments The charity only has financlal assets and flnanclal Ilablllties of a kind that qualify as baslc financlal Instruments. Basic financial Instruments are Inllially recognised at transaction valu8 and subsequently measured al thelr settlement value with the ex¢eptlon of bank loans whlch are subsequently measured at amortised cost using the effectlve Interest method. 10
The Chelsea Players Trust Notes to the flnanclal statements (Continued) For the year ended 30 June 2024 Income 2024 2023 Donations and Legacios 243.040 50,000 Investment Income 2024 2023 Bank interest 5.654 1,647 Expendlture Unrestricted funds Total 2024 Total 2023 Charltable actlvltles Medical Bills General Expenses Wages and salarles 2.128 45,032 13,147 2,128 45,032 13,147 12,249 29,306 60,307 60,307 41,555 Trustees None of the Trustees or any persons connected received remuneratlon or baneflts from the Trust durlng th8 year. Employees There was 1 employee durlng the year (2023- none). Debtors 2024 2023 Amounts due from related parties 276,584 37,432 Credltors: amounts falllng due wlthln one year 2024 2023 Amounts due to related parties 11
The Chelsea Players Trust Notes to the financlal statements (Contlnued) For the year ended 30 June 2024 Analys15 of funds Year end8d 30 June 2024 At 1 July 2023 At 30 June 2024 Income Expendlture Transfers Unrestrlcted funds General fund 177,837 248.694 (60.307) 366,224 Year gnded 30 Jun8 2023 At 1 July 2022 At 30 Jun8 2023 Income Expendlture Transfers Unrestrlcted funds G8n8ral fund 167,745 51.647 (41,555) 177,837 10. Analysls of net a888ts between funds Year ended 30 June 2024 Unrestrlct8d Funds Current assets Current Ilabllitles 386,224 366,224 Year ended 30 Jun8 2023 Unrestrlcted Funds Current assets Curr8nt Ilabllllles 177,837 177,837 11. Related party transactlons There have been no related party transactions during the year (2023 - none). 12
The Chelsea Players Trust Notes to the flnancial statements (Contlnued) For the year ended 30 June 2024 .12. Company Llmlted by Guarantee The company is Ilmlled by m8mbers' guarantees and therefor8 has no share capital. The guarantee glven by memb8rs Is limlt8d to £1. 13. Comparative statement of flnanclal actlvltles Unrestricted funds Restrlcted funds Total 2023 Total 2022 Not08 Income from: Donations Investment Income 50.000 1,647 50.000 1,647 51,647 51,647 Expondlture on: Charltable actlvltSes 41.555 41.555 3,699 41,555 41,555 3,699 Net movemenl In funds 10.092 10,092 { 3,699) R8conclllatlon of funds Total funds brought forward 187,745 167,745 171.444 Total funds carried forward 177,837 177,837 167,745 13