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 2023
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 2023
| 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 | 23 |
LUTON TOWN FC COMMUNITY TRUST REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 MAY 2023
TRUSTEES Mr R J Curson Mr M J McMahon Mr S Sadiq Mr A J Rogers Ms H G Barnett (resigned 26.1.23) Mr D K Bunyan Mr R J Calver (resigned 22.9.23) Mr H Hoque (resigned 28.3.23) Mr P Watson (resigned 3.5.23) Mr P G Stephens Mr O D Williams (resigned 31.12.22) 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)
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2023
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 2023. 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.
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2023
ACHIEVEMENT AND PERFORMANCE
Review of Activities and Achievements
All our work was in line with our strategic plan for 2021 - 2024, 'Rebuilding Our Capacity & Reconnecting Our Communities'. And we look forward to start working on our next 5 years strategy to be launched in Spring 2024.
The club's positive performances on the pitch, eventually leading to promotion to the Premier League via the playoffs, helped to raise the Trust's profile and increased interest in the Trust's activities. This had a positive effect on the community by encouraging more young people to get involved in our programmes.
Furthermore, the increased interest in the club attracted attention from potential partners in the public, private, and voluntary sectors, leading to new opportunities for partnerships and collaborations, which will benefit the Trust and the community as a whole. Overall, the success of the football club has a wide reaching effect beyond just the results on the pitch, making a positive impact in the local community.
Coaching and development opportunities continued to thrive with through our talent identification and development sessions throughout the county, young people have the opportunity to attend our annual trips to Stowe and Holland, providing players with unique playing and personal development opportunities.
Our schools focused programmes including Premier League Primary Stars continued to go from strength to strength engaging new partners delivering high quality interventions and activities. Lunch and after schools club continued to be very popular with partners throughout the county.
The Trust secured funding from Bedfordshire and Luton Community Foundation to increase youth work delivery providing informal education activities through the Premier League Kicks programmes which regularly attract over 80 young people per session. This giving young people opportunities to learn about issues that matter to them and access information, advice and guidance in a safe and supportive setting. Additional funding was secured from Ministry of Justice through Street Games to bolster this delivery supporting vulnerable young people at risk of involvement in crime.
Through the Violence and Exploitation Reduction Unit the Trust was able to extend free access football delivery in Bedford working closely with local partners and the Police, providing youth work support at each session.
Our pan disability session has continued to grow with numbers regularly over 25 and continues to be a focus for the Trust working with key partners to delivery needs supportive and engaging sessions.
The EFL Trust funded Fit Hatters programme continued to provide female and male cohorts, helping 35 - 65 year olds take positive steps to live healthier lives. This programme has significant impact on participants mental and physical wellbeing and the maintenance sessions were delivered to support graduates of the programme to continue on their healthier lives journey.
The trust's post-16 BTEC programme continued to thrive, providing young people high quality football experience alongside their education. Young people access high quality facilities for both their football and education which creates a supportive and enriching environment for their educational, personal and sporting development.
Our holiday clubs and HAF camps continued to serve families in Bedfordshire providing well organised, fun and engaging camps. Camps we regularly visited by first team players, these visits served as source of motivation and excitement for young people having the opportunity to interact with their role models and continue to strengthen the ties between trust, club and the local community.
FINANCIAL REVIEW
Financial position
The charity made a deficit of £59,943 for the year ended 31 May 2023 (2022 Surplus: £56,523). The funds held by the charity as at the year ended 31 May 2023 are stated under reserves policy.
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.
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2023
FINANCIAL REVIEW
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 nothing has been allocated to this fund (2022: £50,000). The balances in unrestricted funds and the restricted funds as at the year ended 31 May 2023 are £286,277 and £14,000 respectively (2022: £332,720 and £27,500).
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
The Trust will be launching a new strategy in 2024, consultation with stakeholder will start in the autumn 2023. The process will provide the Trust will valuable insight, feedback and perspectives from a diverse range of individuals and organisations. This inclusive approach can help to ensure that the new strategy addresses the priorities and challenges specific to Luton and Bedfordshire and foster a sense of ownership and collaboration.
The promotion of the club has provided the Trust with a range of exciting partnership opportunities that will be utilised to meet the charitable of objectives. The trust will continue to look for funding and grant opportunities to fulfil its aim. By pursuing partnerships opportunities, the trust can tap into additional resource, expertise and support that will help to increase reach, create sustainable and impactful programmes. By pursuing diverse funding sources this will furthermore help to ensure stability and growth and the development of new programmes and expansion of existing ones.
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 was controlled until August 2022 by the Head of Trust Kevin Thoburn and then Community Trust Director, Kerry Downes from September 2022 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.
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.
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
REPORT OF THE TRUSTEES for the Year Ended 31 MAY 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
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.
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 6 February 2024 and signed on its behalf by:
Mr R J Curson - Trustee
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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 2023.
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 member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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.
Miss Tara Aldwin ACA
FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
16 February 2024
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LUTON TOWN FC COMMUNITY TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MAY 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 6 Football Development Community Football Other trading activities 4 Investment income 5 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 £ 19,520 401,269 221,029 - 427 642,245 - 371,913 264,249 52,526 688,688 (46,443) 332,720 286,277 |
Restricted funds £ 293,724 - - - - 293,724 - - 64,510 242,714 307,224 (13,500) 27,500 14,000 |
2023 Total funds £ 313,244 401,269 221,029 - 427 935,969 - 371,913 328,759 295,240 995,912 (59,943) 360,220 300,277 |
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 |
|---|---|---|---|---|
The notes form part of these financial statements
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
BALANCE SHEET 31 MAY 2023
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 13 9,719 CURRENT ASSETS Stocks 14 20,483 Debtors 15 95,183 Cash at bank 176,426 292,092 CREDITORS Amounts falling due within one year 16 (15,534) NET CURRENT ASSETS 276,558 TOTAL ASSETS LESS CURRENT LIABILITIES 286,277 NET ASSETS 286,277 FUNDS 17 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - - 14,000 14,000 - 14,000 14,000 14,000 |
2023 Total funds £ 9,719 20,483 95,183 190,426 306,092 (15,534) 290,558 300,277 300,277 286,277 14,000 300,277 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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...
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LUTON TOWN FC COMMUNITY TRUST (REGISTERED NUMBER: 06464712)
BALANCE SHEET - continued 31 MAY 2023
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 6 February 2024 and were signed on its behalf by:
Mr P G Stephens - Trustee
The notes form part of these financial statements
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LUTON TOWN FC COMMUNITY TRUST
CASH FLOW STATEMENT for the Year Ended 31 MAY 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in 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 |
2023 £ (192,041) (192,041) (4,232) 427 (3,805) (195,846) 386,272 190,426 |
2022 £ 48,346 48,346 (693) 63 (630) 47,716 338,556 386,272 |
|---|---|---|
The notes form part of these financial statements
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 MAY 2023
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Increase in stocks (Increase)/decrease in debtors Decrease in creditors Net cash (used in)/provided by operations |
2023 £ (59,943) 2,514 - (427) (16,483) (74,268) (43,434) (192,041) |
2022 £ 56,523 2,808 41 (63) - 57,540 (68,503) 48,346 |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.6.22 £ |
Cash flow £ |
At 31.5.23 £ |
|---|---|---|---|
| Cash at bank | 386,272 | (195,846) | 190,426 |
| 386,272 | (195,846) | 190,426 | |
| Total | 386,272 | (195,846) | 190,426 |
The notes form part of these financial statements
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MAY 2023
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...
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
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...
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
3. DONATIONS AND LEGACIES
| Football League Premier League Other grants Grants received, included in the above, are as follows: Beds Police Beds & Luton Community Youth Fund Lloyds Bank Foundation Harpur Trust Active Luton The FA Community Led Local Development National Citizen Service The Football Foundation Groundwork UK National litter Beds Police Crime Commissioner 4. OTHER TRADING ACTIVITIES Catering 5. INVESTMENT INCOME Deposit account interest |
2023 £ 73,973 114,500 124,771 313,244 2023 £ 20,000 63,650 500 - - - 31,576 2,020 - - 1,000 6,025 124,771 2023 £ - 2023 £ 427 |
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 |
|---|---|---|
continued...
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
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 28,819 Community Football 15,038 Grant funded activities 27,560 71,417 |
2023 £ 377,716 23,553 221,029 622,298 2023 £ - Support Direct costs (see Costs note 9) £ £ 338,294 33,619 311,321 17,438 262,881 32,359 912,496 83,416 Governance Finance costs £ £ 859 3,941 429 1,971 858 3,941 2,146 9,853 |
2022 £ 401,393 28,450 195,732 625,575 2022 £ 906 Totals £ 371,913 328,759 295,240 995,912 Totals £ 33,619 17,438 32,359 83,416 |
|---|---|---|
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.
continued...
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
9. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
| Management | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Grant | |||||
| Football | Community | funded | Total | Total | |
| Development | Football | activities | activities | activities | |
| £ | £ | £ | £ | £ | |
| Rent and rates | 5,632 | 2,816 | 5,631 | 14,079 | 14,850 |
| Telephone | 1,063 | 532 | 1,064 | 2,659 | 158 |
| Printing and stationery | 572 | 286 | 572 | 1,430 | 1,374 |
| Sundries | 9,333 | 4,667 | 9,333 | 23,333 | 44,799 |
| Motor and travelling | |||||
| expenses | 7,623 | 3,811 | 7,622 | 19,056 | 10,556 |
| IT Support | 3,339 | 1,669 | 3,338 | 8,346 | 8,715 |
| Depreciation of tangible and | |||||
| heritage assets | 1,257 | 1,257 | - | 2,514 | 2,807 |
| Loss on sale of tangible | |||||
| fixed assets | - | - | - | - | 41 |
| 28,819 | 15,038 | 27,560 | 71,417 | 83,300 | |
| Finance | |||||
| Bank charges | Football Development £ 859 |
Community Football £ 429 |
Grant funded activities £ 858 |
2023 Total activities £ 2,146 |
2022 Total activities £ 620 |
| Governance costs | |||||
| Independent exam | Football Development £ 528 |
Community Football £ 264 |
Grant funded activities £ 528 |
2023 Total activities £ 1,320 |
2022 Total activities £ 1,200 |
| Independent examiners' | |||||
| remuneration for other work | 2,369 | 1,185 | 2,369 | 5,923 | 5,095 |
| Consultancy fees | 684 | 342 | 684 | 1,710 | - |
| Legal fees | 360 | 180 | 360 | 900 | - |
| 3,941 | 1,971 | 3,941 | 9,853 | 6,295 | |
continued...
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
10. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Independent exam|1,320|1,200|
|Other non-assurance services|5,923|5,095|
|Depreciation - owned assets|2,513|2,808|
|Deficit on disposal of fixed assets|-|41|
----- End of picture text -----
11. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 May 2023 nor for the year ended 31 May 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 May 2023 nor for the year ended 31 May 2022.
12. STAFF COSTS
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£|£|
|Wages and salaries|555,015|537,510|
|Social security costs|30,925|31,728|
|Other pension costs|8,326|7,358|
|594,266|576,596|
|The average monthly number of employees during the year was as follows:|
|2023|2022|
|Full Time Staff|29|32|
----- End of picture text -----
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
----- Start of picture text -----
||||
|---|---|---|
|2023|2022|
|£70,001 - £80,000|1|-|
----- End of picture text -----
Key Management Personnel Compensation in total amounted to £82,740 (2022: £49,656).
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
13. TANGIBLE FIXED ASSETS
| Motor Computer vehicles equipment £ £ COST At 1 June 2022 28,248 1,623 Additions - 4,232 At 31 May 2023 28,248 5,855 DEPRECIATION At 1 June 2022 21,130 741 Charge for year 1,779 734 At 31 May 2023 22,909 1,475 NET BOOK VALUE At 31 May 2023 5,339 4,380 At 31 May 2022 7,118 882 14. STOCKS 2023 £ Stocks 20,483 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade debtors 28,419 Prepayments and accrued income 66,764 95,183 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Trade creditors 10,373 Accruals 5,161 15,534 |
Totals £ 29,871 4,232 34,103 21,871 2,513 24,384 9,719 8,000 2022 £ 4,000 2022 £ 20,916 - 20,916 2022 £ 54,289 4,679 58,968 |
|---|---|
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Contingency fund Designated fund - Relocation Project Restricted funds Premier League Charitable Fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Streetgames UK Premier League Charitable Fund Football League Community Beds and Luton Community Youth Fund BedsPolice Crime Commissioners Office Community led Local Development National Citizen Service Barclays sported foundation The National Literacy TOTAL FUNDS |
At 1.6.22 £ 132,720 150,000 50,000 332,720 27,500 360,220 Incoming resources £ 642,245 16,700 114,500 37,753 63,650 26,025 31,576 2,020 500 1,000 293,724 935,969 |
Net movement At in funds 31.5.23 £ £ (46,443) 86,277 - 150,000 - 50,000 (46,443) 286,277 (13,500) 14,000 (59,943) 300,277 Resources Movement expended in funds £ £ (688,688) (46,443) (16,700) - (128,000) (13,500) (37,753) - (63,650) - (26,025) - (31,576) - (2,020) - (500) - (1,000) - (307,224) (13,500) (995,912) (59,943) |
|---|---|---|
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
17. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.6.21 £ Unrestricted funds General fund 119,447 Contingency fund 125,000 Designated fund - Relocation Project - 244,447 Restricted funds Premier League Charitable Fund 45,000 Beds and Luton Community Youth Fund 5,000 BedsPolice Crime Commissioners Office 6,000 Active Luton 3,250 59,250 TOTAL FUNDS 303,697 Comparative net movement in funds, included in the above are as 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 |
Net movement in funds £ 88,273 - - 88,273 (17,500) (5,000) (6,000) (3,250) (31,750) 56,523 follows: 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 |
Transfers between funds £ (75,000) 25,000 50,000 - - - - - - - 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) |
At 31.5.22 £ 132,720 150,000 50,000 332,720 27,500 - - - 27,500 360,220 Movement in funds £ 88,273 (17,500) - - (5,000) (6,000) - - (3,250) - - - - - (31,750) 56,523 |
|
|---|---|---|---|---|
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
17. MOVEMENT IN FUNDS - continued
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 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 £ 41,830 - - 41,830 (31,000) (5,000) (6,000) (3,250) (45,250) (3,420) |
Transfers between funds £ (75,000) 25,000 50,000 - - - - - - - |
At 31.5.23 £ 86,277 150,000 50,000 286,277 14,000 - - - 14,000 300,277 |
|---|---|---|---|---|
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 Streetgames UK 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 Barclays sported foundation The National Literacy |
Incoming Resources Movement resources expended in funds £ £ £ 1,302,298 (1,260,468) 41,830 16,700 (16,700) - 228,925 (259,925) (31,000) 151,719 (151,719) - 6,600 (6,600) - 78,650 (83,650) (5,000) 26,025 (32,025) (6,000) 1,000 (1,000) - 19,825 (19,825) - 17,124 (20,374) (3,250) 111,507 (111,507) - 1,000 (1,000) - 11,035 (11,035) - 2,245 (2,245) - 1,000 (1,000) - 500 (500) - 1,000 (1,000) - |
|---|---|
| 674,855 (720,105) (45,250) |
|
| TOTAL FUNDS | 1,977,153 (1,980,573) (3,420) |
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.
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
17. MOVEMENT IN FUNDS - continued
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.
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
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LUTON TOWN FC COMMUNITY TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MAY 2023
17. MOVEMENT IN FUNDS - continued
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.
The National Literacy
This funding was received in respect of a Primary Stars Literacy event ran by the charity during the year.
Barclays Sported
This funding was received in respect of the charity's Kicks programme which 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.
18. RELATED PARTY DISCLOSURES
During the year there were no grants were received (2022: £17,124) from Active Luton, a charity which Mrs H Barnett was a part of the key management personnel.
During the year, key management personnel were reimbursed £19,547 (2022: £43,391) for expenses incurred.
19. ULTIMATE CONTROLLING PARTY
The Trust is jointly controlled by the board of Trustees.
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