**REGISTERED COMPANY NUMBER: 06464712 (England and Wales) REGISTERED CHARITY NUMBER: 1123078**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022**
## **FOR**
**LUTON TOWN FC COMMUNITY TRUST**
FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
**LUTON TOWN FC COMMUNITY TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MAY 2022**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|to|24|
**LUTON TOWN FC COMMUNITY TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 MAY 2022**
|**TRUSTEES**|Ms H G Barnett (resigned 26.1.23)|
|---|---|
||Mr R J Curson|
||Mr M J McMahon|
||Mr S Sadiq|
||Mrs C C K Smart (resigned 24.6.21)|
||Mr A J Rogers|
||Mr P G Stephens|
||Mr O D Williams (resigned 31.12.22)|
||Mr D K Bunyan|
||Mr R J Calver|
||Mr H Hoque|
||Mr P Watson (appointed 27.1.22)|
|**REGISTERED OFFICE**|Kenilworth Road Stadium|
||1 Maple Road|
||Luton|
||Bedfordshire|
||LU4 8AW|
|**REGISTERED COMPANY**|06464712 (England and Wales)|
|**NUMBER**||
|**REGISTERED CHARITY**|1123078|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|FKCA Limited|
||260 - 270 Butterfield|
||Great Marlings|
||Luton|
||Bedfordshire|
||LU2 8DL|
|**BANKERS**|Lloyds Bank|
||60 George Street|
||Luton|
||LU1 2AZ|
||Metro Bank|
||10-20 Castle Street|
||Luton|
||LU1 3AJ|
|**CHIEF EXECUTIVE OFFICER**|Kevin Thoburn (until August 22)|
||Kerry Downes (From September 22)|
Page 1
**LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity according to the Memorandum of Association are as follows:
1) To promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health.
2) To provide and assist in providing facilities for sport, recreation or other leisure time occupation of such persons who have need for such facilities by reason of their youth, age, infirmity or disablement, poverty or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving conditions of life.
3) To advance the education of children and young people through such means as the trustees think fit in accordance with the law of the charity.
The charity seeks to achieve these objectives and provide public benefit by providing football coaching courses and events, and by working closely with local schools in the provision of after school and holiday club facilities at a cost which renders them accessible to the local community.
At Luton Town Football Club Community Trust the welfare and safety of our children is paramount. Luton Town Football Club Community Trust have a duty of care to safeguard all children involved in any activity provided by the Trust from harm and to achieve this through adherence to The Football Association's Safeguarding Children Policy and Procedure guidelines adopted by the Trust.
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when setting their policies for the year in line with the charity's aims and objectives.
## **Public benefit**
The charity is a public benefit entity.
Page 2
**LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2022**
## **ACHIEVEMENT AND PERFORMANCE**
## **Review of Activities and Achievements**
This year saw a very welcome return to in person activity for many of our programmes, as we began to work back towards normality following the effects of the pandemic and subsequent lockdowns and restrictions. All our work was in line with our new strategic plan for 2021 - 2024, 'Rebuilding Our Capacity & Reconnecting Our Communities'.
The football club's performances on the pitch, first of all securing Championship status and then reaching the playoffs, assisted with raising the profile of the trust and increased the appetite for local young people to take part in the game. A great example of this was though our summer holiday camps, with nearly 2000 children attending 40 camps over the summer holidays. The traditionally quieter weeks towards the end of August were still well attended, perhaps as a result of fewer families travelling abroad for holidays but also due to young people being keen to make up for lost time and get back to the game they love.
Continued funding from the Premier League Charitable Foundation (PLCF) allowed us to continue our Primary Stars programme. The project continues to support the development of PE delivery staff in schools to enhance school sport delivery to pupils. The Primary Stars programme includes literacy and numeracy double sports clubs to schools as well as mentoring programmes for pupils at risk of exclusion from full time education. There is still an extremely high demand from schools for this service, as we work back towards pre-pandemic levels. We continued to see our Healthy Hatters programme grow, with 10 schools buying in the 6 week health programme for their Year 5 classes. Adhoc after school club were also well up on the previous year.
Our coaching and development centres were able to return to normality, following a long period of disruption. Pleasingly, we were also able to restart our annual trips to Stowe and Holland for our Development squads.
Our EFL Trust funded Fit Hatters programme returned to Kenilworth Road, as we continued to run female and male cohorts, helping 35 - 65 year olds take positive steps to live healthier lives. We were also able to run our first mixed cohort with support from Active Luton.
We finally saw a return to our disability football sessions, with many of our participants returning for the first time since the very start of the pandemic. Numbers were low to begin with but slowly returned to pre-pandemic levels as confidence amongst participants grew and restrictions were relaxed.
The trust's post-16 BTEC programme continued to go from strength to strength with the first female cohort joining the already established male programme. The full-time education programme combines a sports qualification alongside a football training and fixtures programme, as well as support in other educational areas. In addition, 30 of these students successfully completed the National Citizenship Service (NCS) programme that we ran for the first time in many years, attracting a new revenue stream from EFL Trust and offering these young people valuable life skills and opportunities to boost their self-confidence by overcoming challenges. The trust also began recruitment for a summer '22 NCS cohort.
The Trust also continues to receive funding from the PLCF to run 4 weekly community cohesion projects for young people defined as 'hard to reach' or 'disengaged' as part of the national PL KICKS project. These sessions continue to break down barriers within the local community and to help dilute anti-social behaviour. These targeted sessions can attract up to 60 young people per night.
A new area of funding for the trust was through our 12 week mentoring programme. We partnered with Luton Central Mosque to identify 10 young people from the under represented South Asian community, to deliver a football coaching programme and qualification. A similar mentoring programme was run for a cohort of Year 8 pupils from Lea Manor High School.
The trust was able to secure funding from Beds and Luton Community Foundation's Luton Youth Fund to setup a youth club at Future's House in Marsh Farm. This offered a much needed facility for local youngsters to socialise in a safe environment. Such provision hadn't existed in the local area since the closure of the council run youth club, but with an increasing number of young people in the area becoming involved in anti-social behaviour, it was a much welcomed service.
## **FINANCIAL REVIEW Financial position**
The charity made a surplus of £56,523 for the year ended 31 May 2022 (2021: £101,002). The funds held by the charity as at the year ended 31 May 2022 are stated under reserves policy.
Page 3
**LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2022**
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity is principally funded from coaching income, supplemented by grants and donations.
How these resources support the key objectives of the charity is detailed above in the 'Achievements and Performance' section of the report of the trustees.
## **Reserves policy**
The trustees review the reserves policy on a regular basis to ensure that reserves are maintained at a level that is consistent with the charity having sufficient funds to operate at its planned activity levels taking into account the various financial risk factors that have been identified.
It is intended that the charity will currently operate with reserves at a level that equates to at least three months operating costs and a contingency fund has been set up for this purpose. This level of Reserves has been maintained throughout the year. The Trustees are mindful that a sustainable long term future at its Ely Way site is unlikely and therefore the Trust is exploring options to move its operations to an alternative location. Initial estimates are that such a project will require significant funds and as such a Designated fund has been established with the intention that it will over time provide the financial resources necessary to facilitate a relocation. During the year £50,000 has been allocated to this fund. The balances in unrestricted funds and the restricted funds as at the year ended 31 May 2022 are £332,720 and £27,500 respectively (2021: £244,447 and £59,250).
## **Going concern**
The trustees have considered the financial health of the charity and are confident that at the date of signing, will continue as a going concern for the foreseeable future.
## **FUTURE PLANS**
As we head into a post pandemic future, our new strategy 'Reconnecting Communities' 2021-2024' outlines how we will recover and how we are going to help people to overcome social challenges over the next four years and beyond. The diverse nature of our work often brings us into contact with those on the edge of society or those who are disengaged, lonely, live in poverty or live with a disability. The pandemic will unquestionably have accentuated social divides and widened inequality.
It still remains the aim of the Trust to continue to seek and secure funding and grant opportunities to fulfil its aim of providing inclusive sports activities at affordable prices to the local community, provide educational courses to help young people and unemployed adults to increase employment opportunity and to provide activities to both children and adults that have a positive impact on both health and community cohesion.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 7 January 2008 and registered as a charity on 5 March 2008. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. This liability remains for one year after ceasing to be a member in respect of debts incurred whilst a member.
## **Recruitment and appointment of new trustees**
The Trustees are responsible for the identification of potential new trustees and their subsequent nomination for appointment. They seek to ensure that the Board has representation from a broad range of interests and skills.
## **Organisational structure**
The board of Trustees shall, according to the Articles of Association, be not less than three but shall not be subject to any maximum.
The Board meets quarterly on a formal basis, and has additional ad hoc meetings frequently to discuss specific areas for development and support. The day to day organisation and management is controlled through the Head of Trust Kevin Thoburn who calls on trustees for support as required. Formal agendas, papers and reports are supplied to trustees in a timely manner prior to meetings. Full minutes of all formal meetings are produced and circulated to trustees.
Page 4
**LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees**
The induction process for any newly appointed Trustee comprises of an initial meeting with the Board of Trustees for an understanding of the work of the Charity and the responsibilities of the Trustees. Each trustee is given a copy of the Charity Commission's guidance "The Essential Trustee: What You Need to Know" and receives governance training.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The key business risks affecting the charity relate to its funding sources, operational financial risks and project risks. The Board of Trustees and senior executives review the risks of the charitable company on a regular basis and have implemented policies and procedures to mitigate exposure to these risks, to ensure compliance with health and safety standards for staff and scheme participators and to ensure that that all regulations regarding the management and contact with children are adhered too. In addition, a review of all financial risks is undertaken on a regular basis.
The Trust is confident that major risks to which it may be exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
## **Covid-19 Risk Assessment**
The Trust have conducted suitable and sufficient Covid-19 risk assessments for all of its premises and venues. The results conclude that we are compliant with the guidance set out by Sport England and the FA. We continue to inform, instruct, and train our staff as the guidance continues to evolve. The risk assessments and guidance will be reviewed and updated as further guidance becomes available. Our aim is to reduce risk to staff, participants, and the public by introducing control measures to mitigate risk and ensure everybody's health, safety and wellbeing is protected.
The Trust have also conducted suitable and sufficient Covid-19 risk assessment to the financial health of the charity in full consultation with the Board of Trustees. The Trust has recognised the risk to income and has introduced strict control measures to mitigate this risk with the aim of protecting the charity's solvency and to ensure sufficient reserve funds are available to discharge any outstanding future liabilities. The Trustee Governance Sub-Committee meets regularly to receive updated financial reports and projections from the Head of Trust and to approve future expenditure. Our aim is to reduce the risk to the charity by introducing stringent control measures to mitigate risk and ensure the Trust's solvency is protected.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr R J Curson - Trustee
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LUTON TOWN FC COMMUNITY TRUST**
## **Independent examiner's report to the trustees of Luton Town FC Community Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ACA 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 Company 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.
## **Dispensation of Audit**
An independent examination has taken place instead of an audit as granted by the Charity Commission under Regulation 34(3)(b) of the Charities (Accounts and Reports) Regulations 2008. The date of dispensation was 3 January 2023.
Miss Tara Aldwin ACA FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL Date: .............................................
Page 6
## **LUTON TOWN FC COMMUNITY TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MAY 2022**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**Charitable activities**
6
Football Development
Community Football
Other trading activities
4
Investment income
5
Other income
**Total**
**EXPENDITURE ON**
Raising funds
7
**Charitable activities**
8
Football Development
Community Football
Grant funded activities
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
30,525
429,843
195,732
3,890
63
-
660,053
906
367,108
102,692
101,074
571,780
88,273
244,447
332,720|Restricted
funds
£
381,131
-
-
-
-
-
381,131
-
-
245,891
166,990
412,881
(31,750)
59,250
27,500|2022
Total
funds
£
411,656
429,843
195,732
3,890
63
-
1,041,184
906
367,108
348,583
268,064
984,661
56,523
303,697
360,220|2021
Total
funds
£
250,685
171,891
77,609
3,200
963
119,144|
|---|---|---|---|---|
|||||623,492|
|||||669
191,312
150,017
180,492|
|||||522,490|
|||||101,002
202,695|
|||||303,697|
The notes form part of these financial statements
Page 7
## **LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **BALANCE SHEET 31 MAY 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
8,000
**CURRENT ASSETS**
Stocks
14
4,000
Debtors
15
20,916
Cash at bank
358,772
383,688
**CREDITORS**
Amounts falling due within one year
16
(58,968)
**NET CURRENT ASSETS**
324,720
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
332,720
**NET ASSETS**
332,720
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
27,500
27,500
-
27,500
27,500
27,500|2022
Total
funds
£
8,000
4,000
20,916
386,272
411,188
(58,968)
352,220
360,220
360,220
332,720
27,500
360,220|2021
Total
funds
£
10,156
4,000
78,456
338,556
421,012
(127,471)
293,541
303,697
303,697
244,447
59,250
303,697|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
## **LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)**
## **BALANCE SHEET - continued 31 MAY 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr P G Stephens - Trustee
The notes form part of these financial statements
Page 9
## **LUTON TOWN FC COMMUNITY TRUST**
## **CASH FLOW STATEMENT for the Year Ended 31 MAY 2022**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash (used in)/provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2022
£
48,966
(620)
48,346
(693)
63
(630)
47,716
338,556
386,272|2021
£
79,832
(519)
79,313
(930)
963
33
79,346
259,210
338,556|
|---|---|---|
The notes form part of these financial statements
Page 10
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 MAY 2022**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||2022|2021|
|||£|£|
||**Net income for the reporting period (as per the Statement of Financial**|||
||**Activities)**|56,523|101,002|
||**Adjustments for:**|||
||Depreciation charges|2,808|3,491|
||Loss on disposal of fixed assets|41|-|
||Interest received|(63)|(963)|
||Interest paid|620|519|
||Increase in stocks|-|(2,000)|
||Decrease/(increase) in debtors|57,540|(37,178)|
||(Decrease)/increase in creditors|(68,503)|14,961|
||**Net cash provided by operations**|48,966|79,832|
|2.|**ANALYSIS OF CHANGES IN NET FUNDS**|||
||At 1.6.21|Cash flow|At 31.5.22|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|338,556|47,716|386,272|
||338,556|47,716|386,272|
|**Total**|338,556|47,716|386,272|
The notes form part of these financial statements
Page 11
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MAY 2022**
## **1. STATUTORY INFORMATION**
The organisation is a charitable company limited by guarantee, registered in England and Wales. The charities registered number and registered office address can be found on the Reference and Administrative Details page.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The presentational currency is pound sterling.
The trustees have considered the financial health of the charity and there is no material uncertainties which cast doubt on the charities ability to continue as a going concern. The trustees are confident that the charity, at the date of signing, will continue as a going concern for the foreseeable future.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following policies are applied to particular categories of income:
Income received by way of grants and donations is included in full in the Statement of Financial Activities when receivable.
Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Incoming resources from charitable trading activity are accounted for when earned.
## **Government grants**
Government grants are recognised in the statement of financial activities within other income when it is deemed to be receivable by the charity.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Charitable activities**
Charitable activities comprise the direct costs of providing education and coaching facilities to children and other groups, whether as part of the football development programme or community football programme, plus related support costs.
continued...
Page 12
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **2. ACCOUNTING POLICIES - continued**
## **Governance costs**
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the independent examination of the Charity and accountancy charges.
## **Allocation and apportionment of costs**
Overhead and support costs have been allocated between charitable activities based on an estimate of time spent or usage by the activity to which they relate. The allocation is analysed in the notes to the accounts.
## **Tangible fixed assets**
Tangible fixed assets held for the charity's own use are stated at cost less accumulated depreciation and accumulated impairment losses
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance Computer equipment - 33% on reducing balance
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Donated services**
In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised in the financial statements.
## **Value added tax**
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
continued...
Page 13
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **3. DONATIONS AND LEGACIES**
|Football League
Premier League
Other grants
Grants received, included in the above, are as follows:
Beds Police
Luton Council
Beds & Luton Community Youth Fund
The Princes Trust
Lloyds Bank Foundation
Harpur Trust
Kids Girls Cup
St Thomas Trust
Active Luton
The FA
Foxley Kingham
Community Led Local Development
National Citizen Service
The Football Foundation
Groundwork UK
**4.**
**OTHER TRADING ACTIVITIES**
Catering
**5.**
**INVESTMENT INCOME**
Deposit account interest|2022
£
151,091
114,425
146,140
411,656
2022
£
19,825
-
15,000
-
-
1,000
-
-
17,124
1,000
-
79,931
9,015
2,245
1,000
146,140
2022
£
3,890
2022
£
63|2021
£
111,043
107,265
32,377|
|---|---|---|
|||250,685|
|||2021
£
10,857
3,000
5,000
1,500
500
-
1,290
7,230
-
1,000
2,000
-
-
-
-|
|||32,377|
|||2021
£
3,200
2021
£
963|
continued...
Page 14
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **6. INCOME FROM CHARITABLE ACTIVITIES**
|Activity
Coaching and education
Football Development
Kit and equipment
Football Development
Coaching and education
Community Football
**RAISING FUNDS**
**Other trading activities**
Catering expenses
**CHARITABLE ACTIVITIES COSTS**
Football Development
Community Football
Grant funded activities
**SUPPORT COSTS**
Management
£
Football Development
33,604
Community Football
17,515
Grant funded activities
32,181
83,300|2022
£
401,393
28,450
195,732
625,575
2022
£
906
Support
Direct
costs (see
Costs
note 9)
£
£
330,738
36,370
329,685
18,898
233,117
34,947
893,540
90,215
Governance
Finance
costs
£
£
248
2,518
124
1,259
248
2,518
620
6,295|2021
£
157,507
14,384
77,609|2021
£
157,507
14,384
77,609|
|---|---|---|---|
|||249,500||
|||2021
£
669
Totals
£
367,108
348,583
268,064||
|||983,755||
||||Totals
£
36,370
18,898
34,947|
||||90,215|
## **7. RAISING FUNDS**
## **8. CHARITABLE ACTIVITIES COSTS**
## **9. SUPPORT COSTS**
Support cost allocation is split according to the estimated staff time spent on each activity. The basis used is a cost split of 40% to football development, 20% to community and 40% to grants. This is with exception of costs which are used solely for each purpose.
Page 15
continued...
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **9. SUPPORT COSTS - continued**
Support costs, included in the above, are as follows:
## **Management**
|**Management**||||||
|---|---|---|---|---|---|
|||||2022|2021|
||||Grant|||
||Football|Community|funded|Total|Total|
||Development|Football|activities|activities|activities|
||£|£|£|£|£|
|Rent and rates|5,940|2,970|5,940|14,850|9,785|
|Telephone|63|32|63|158|905|
|Printing and stationery|549|275|550|1,374|2,421|
|Advertising|-|-|-|-|924|
|Sundries|17,919|8,960|17,920|44,799|37,660|
|Motor and travelling||||||
|expenses|4,223|2,111|4,222|10,556|11,869|
|IT Support|3,486|1,743|3,486|8,715|6,336|
|Depreciation of tangible and||||||
|heritage assets|1,404|1,403|-|2,807|3,491|
|Loss on sale of tangible||||||
|fixed assets|20|21|-|41|-|
||33,604|17,515|32,181|83,300|73,391|
|**Finance**||||||
|||||2022|2021|
||||Grant|||
||Football|Community|funded|Total|Total|
||Development|Football|activities|activities|activities|
||£|£|£|£|£|
|Bank charges|248|124|248|620|519|
|**Governance costs**||||||
|||||2022|2021|
||||Grant|||
||Football|Community|funded|Total|Total|
||Development|Football|activities|activities|activities|
||£|£|£|£|£|
|Independent exam|480|240|480|1,200|1,200|
|Independent examiners'||||||
|remuneration for other work|2,038|1,019|2,038|5,095|5,213|
||2,518|1,259|2,518|6,295|6,413|
Page 16
continued...
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **10. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2022|2021|
|---|---|---|
||£|£|
|Independent exam|1,200|1,200|
|Other non-assurance services|5,095|5,213|
|Depreciation - owned assets|2,808|3,491|
|Deficit on disposal of fixed assets|41|-|
## **11. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 May 2022 nor for the year ended 31 May 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 May 2022 nor for the year ended 31 May 2021.
## **12. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries
Social security costs
Other pension costs|2022
£
537,510
31,728
7,358
576,596|2021
£
350,004
20,562
5,768|
|||376,334|
The average monthly number of employees during the year was as follows:
||2022|2021|
|---|---|---|
|Full Time Staff|32|18|
No employees received emoluments in excess of £60,000.
Key Management Personnel Compensation in total amounted to £115,911 (2021: £108,301).
continued...
Page 17
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
|**13.**
**TANGIBLE FIXED ASSETS**
Motor
vehicles
£
**COST**
At 1 June 2021
28,248
Additions
-
Disposals
-
At 31 May 2022
28,248
**DEPRECIATION**
At 1 June 2021
18,757
Charge for year
2,373
Eliminated on disposal
-
At 31 May 2022
21,130
**NET BOOK VALUE**
At 31 May 2022
7,118
At 31 May 2021
9,491
**14.**
**STOCKS**
Stocks
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals
Deferred income|Computer
equipment
£
1,754
693
(824)
1,623
1,089
435
(783)
741
882
665
2022
£
4,000
2022
£
20,916
-
20,916
2022
£
54,289
4,679
-
58,968|Totals
£
30,002
693
(824)
29,871
19,846
2,808
(783)
21,871
8,000
10,156
2021
£
4,000
2021
£
10,776
67,680
78,456
2021
£
18,071
4,620
104,780
127,471|
|---|---|---|
||||
continued...
Page 18
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued**
## **Deferred income**
|**Deferred income**|||
|---|---|---|
||2022|2021|
|||£|
||||
|Deferred income brought forward at 1 June 2021|104,780|100,000|
|Incoming resources deferred in the current year|(104,780)|42,385|
|Amounts released from previous years|-|(37,605)|
||||
|Deferred income carried forward at 31 May 2022|-|104,780|
||||
The deferred income relates to income received for Tours & Residential trips, and football coaching income which were due to take place in the 2019-20 and 2020-21 financial year, and were postponed to 2021-22 due to Covid-19.
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Contingency fund
Designated fund - Relocation Project
**Restricted funds**
Premier League Charitable Fund
Beds and Luton Community Youth Fund
BedsPolice Crime Commissioners Office
Active Luton
**TOTAL FUNDS**|At 1.6.21
£
119,447
125,000
-
244,447
45,000
5,000
6,000
3,250
59,250
303,697|Net
movement
in funds
£
88,273
-
-
88,273
(17,500)
(5,000)
(6,000)
(3,250)
(31,750)
56,523|Transfers
between
funds
£
(75,000)
25,000
50,000
-
-
-
-
-
-
-|At
31.5.22
£
132,720
150,000
50,000|
|---|---|---|---|---|
|||||332,720
27,500
-
-
-|
|||||27,500|
|||||360,220|
continued...
Page 19
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **17. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Premier League Charitable Fund
Football League Community
English Football League
Beds and Luton Community Youth Fund
BedsPolice Crime Commissioners Office
Harpur Trust
TSLT
Active Luton
Community led Local Development
The FA
National Citizen Service
The Football Foundation
Groundwork UK
**TOTAL FUNDS**|Incoming
resources
£
660,053
114,425
113,966
6,600
15,000
-
1,000
19,825
17,124
79,931
1,000
9,015
2,245
1,000
381,131
1,041,184|Resources
expended
£
(571,780)
(131,925)
(113,966)
(6,600)
(20,000)
(6,000)
(1,000)
(19,825)
(20,374)
(79,931)
(1,000)
(9,015)
(2,245)
(1,000)
(412,881)
(984,661)|Movement
in funds
£
88,273
(17,500)
-
-
(5,000)
(6,000)
-
-
(3,250)
-
-
-
-
-|
|---|---|---|---|
||||(31,750)|
||||56,523|
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Contingency fund
**Restricted funds**
Premier League Charitable Fund
Beds and Luton Community Youth Fund
BedsPolice Crime Commissioners Office
Active Luton
**TOTAL FUNDS**|At 1.6.20
£
61,695
125,000
186,695
16,000
-
-
-
16,000
202,695|Net
movement
in funds
£
57,752
-
57,752
29,000
5,000
6,000
3,250
43,250
101,002|At
31.5.21
£
119,447
125,000|
|---|---|---|---|
||||244,447
45,000
5,000
6,000
3,250|
||||59,250|
||||303,697|
continued...
Page 20
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
The Princes Trust
Premier League Charitable Fund
Football League Community
English Football League
Beds and Luton Community Youth Fund
Luton Council
BedsPolice Crime Commissioners Office
St Thomas Trust
Active Luton
**TOTAL FUNDS**|Incoming
resources
£
410,443
1,500
107,265
76,907
1,290
5,000
3,000
10,857
730
6,500
213,049
623,492|Resources
Movement
expended
in funds
£
£
(352,691)
57,752
(1,500)
-
(78,265)
29,000
(76,907)
-
(1,290)
-
-
5,000
(3,000)
-
(4,857)
6,000
(730)
-
(3,250)
3,250
(169,799)
43,250
(522,490)
101,002|Resources
Movement
expended
in funds
£
£
(352,691)
57,752
(1,500)
-
(78,265)
29,000
(76,907)
-
(1,290)
-
-
5,000
(3,000)
-
(4,857)
6,000
(730)
-
(3,250)
3,250
(169,799)
43,250
(522,490)
101,002|
|---|---|---|---|
||||43,250|
||||101,002|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Contingency fund
Designated fund - Relocation Project
**Restricted funds**
Premier League Charitable Fund
**TOTAL FUNDS**|At 1.6.20
£
61,695
125,000
-
186,695
16,000
202,695|Net
movement
in funds
£
146,025
-
-
146,025
11,500
157,525|Transfers
between
funds
£
(75,000)
25,000
50,000
-
-
-|At
31.5.22
£
132,720
150,000
50,000|
|---|---|---|---|---|
|||||332,720
27,500|
|||||360,220|
continued...
Page 21
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **17. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
The Princes Trust
Premier League Charitable Fund
Football League Community
English Football League
Beds and Luton Community Youth Fund
Luton Council
BedsPolice Crime Commissioners Office
Harpur Trust
TSLT
St Thomas Trust
Active Luton
Community led Local Development
The FA
National Citizen Service
The Football Foundation
Groundwork UK
**TOTAL FUNDS**|Incoming
resources
£
1,070,496
1,500
221,690
190,873
7,890
20,000
3,000
10,857
1,000
19,825
730
23,624
79,931
1,000
9,015
2,245
1,000
594,180
1,664,676|Resources
expended
£
(924,471)
(1,500)
(210,190)
(190,873)
(7,890)
(20,000)
(3,000)
(10,857)
(1,000)
(19,825)
(730)
(23,624)
(79,931)
(1,000)
(9,015)
(2,245)
(1,000)
(582,680)
(1,507,151 )|Movement
in funds
£
146,025
-
11,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11,500
157,525|
|---|---|---|---|
The designated fund and contingency fund are being accumulated per annum in line with the charity's reserves policy as detailed in the report of the trustees.
## **Premier League Charitable Fund**
Provides funding for our flagship Primary Stars and KICKs projects. Primary Stars works in support of PE delivery staff in over 90 local schools to improve the delivery and provision of school sport to primary age children. KICKs works with disengaged young people aged 11 to 19 in Luton and uses sport as a hook to engage, inspire and educate through the provision of 4 late night soccer centres and associated workshops for over 250 participants every week.
## **English Football League**
Provides central unrestricted funding to support all of the Trusts charitable activities. In addition provides specific funding for projects including our Fit Hatters project which aims to help with lifestyle changes for overweight community members through exercise classes and workshops. In the year they provided a grant for 'Kids Girls Cup' which was an event that included two football tournaments for Year 6 Boys and Year 8 girls in Bedfordshire.
## **Grant for Apprentices**
Government employment incentive.
## **Luton Council**
Funding received from the South East Midlands Local Enterprise Partnership for a Central Local Led Development project in Luton that funds Luton Street League a scheme that offers skills training and work opportunities alongside sports activities for young people in Luton aged between 16 and 24 years of age.
continued...
Page 22
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **17. MOVEMENT IN FUNDS - continued**
## **National Heritage**
Project funded by the National Lottery taking the history and heritage of the Club into local schools to teach elements of local history and place.
## **Beds Police Crime Commissioners Office**
My Choice is a project delivering advice and guidance on anti-social behaviour to primary age children through an on-line website and interactive workshops. The project aims to offer choices for children to give guidance on where to seek specialist help.
## **BSBT**
A project funded by the Home Office that allowed young people in Luton to sign pledge walls committing them to promoting equality and tolerance of different cultures and communities. A 'peace tournament' was held at the main stadium attended by over 200 participants.
## **The Princes Trust**
Grant funding from 'hardship fund' to enable disadvantaged young people to purchase sports equipment.
## **Harpur Trust**
Funding to open two centres in Bedford to work with disengaged young people aged 11 to 19 using sport as a hook to engage, inspire and educate through the provision of late night soccer centres and associated workshops for over 60 participants every week.
## **TSLT**
Payment for provision of coaching services on the BTEC Sport course from the education provider The Shared Learning Trust.
## **St Thomas Trust**
Funding to help organise a day football tournament for children in Bedfordshire.
## **Active Luton**
Funding to help establish walking groups in Luton for local residents who had been isolating during the coronavirus pandemic.
## **The FA**
The FA provided funding to assist in delivering girls football tournaments.
## **Football Foundation**
Grant income received to support Luton Town Football Club in restarting activities post covid-19 pandemic.
## **National Citizen Service**
Funding provided to the trust to support National Citizenship Service programme for post-16 BTEC students.
## **Community Led Local Development**
Funding for Community Led Local Development programme offering 16-24 year olds employment opportunities alongside training and skills workshops .
## **Groundwork UK**
This funding was used for disability football sessions. The charity runs disability football sessions once a week for over 18s with varying disabilities at the charity's Ely Way outdoor facilities in the summer and at an indoor facility in the colder months.
continued...
Page 23
**LUTON TOWN FC COMMUNITY TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2022**
## **18. RELATED PARTY DISCLOSURES**
Grants totalling £17,124 (2021: £6,500) were received from Active Luton, a charity which Mrs H Barnett is part of the key management personnel, during the year ended 31 May 2022.
## **19. ULTIMATE CONTROLLING PARTY**
The Trust is jointly controlled by the board of Trustees.
Page 24