Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Company registration number.. 6500460 Charity registration number.. 1123447 Grimsby Town Foundation (A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 May 2024 Forrester Boyd Chartered Accountants 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Contents Reference and Administrative Details Trustees, Report 2to6 Independent Examinerfs Report Statement of Financial Activities 8t09 Balance Sheet 10 Statement of Cash Flows Notes to the Financial Statements 12to23 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Reference and Administrative Details Charity name Grimsby Town Foundation Charlty Reglstratlon Number 1123447 Company Registration Number 6500460 Trustees S Wraith C Grocock M Baker J Stockwo(Kl A Matson P Bancroft Registered Office Blundell Park Cleethorpes North East Lincolnshire DN35 7PY Independent Examiner Forrester Boyd Chartered Accountants 26 South Saint Marls Gate Grimsby North East Lincolnshire DN31 1LW Bankers National Westminster Bank Pl 66 Victoria Street Grimsby DN311GA Page 1 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 May 2024. Trustees S Wraith C Grocock D Cook (Resigned 9 February 2024) M Baker J Stockwood {Appointed 15 February 2024) A Matson (Appointed 5 July 2024} P Bancroft (Appointed 25 October 2024) Objectives and activities Objects and aims The Chariws objectives (the Objects) are for the benefit of the public generally and in particulady, the inhabitants of North East Lincolnshire and surrounding areas:_ To promote community participation in healthy recreation by providing facilities for the playing of association football and other sports capable of improving health. 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, povety or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving their conditions of life- and To advance the education of children and young people through such means as the trustees think fit in accordance with the law of charity- The charity has the broad aim of providing increased opportunities for children and young people to engage in qualified football coaching and other sporting activities. The strategies employed to achieve the charity's objectives are to: • Provide opportunities to children and young people of all abilities to engage in footballlsporting activities- Provide a broad range of activities and venues within North East Lincolnshire and su￿Ound1ng areas to increase opportunities for children and young people to benefit from qualified football coaching and sporting activities., Establish effective lines of communication with local schools and, where applicable, goveming bodies of schools. Establish working relationships with. FA, PFA, Football League, Premier League, Grimsby Town Football Club, Children SeNices and relevant partners- Deliver a quality and professional Servi￿ provided by FA qualified coaches- Establish a comprehensive and effective marketing strategy to promote and highlight the charity's seNices within schools. Page 2 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Trustees. Report Public benefit The trustees, have had due regard to guidance published by the Charities Commission ICC) on public benefit. They believe the below objectives and activities, along with the yearfs performan￿, clearly show how the charity brings benefit to the public. The trustees, confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Strategic Report Achlevements and performance The Foundation's school provision continues to perform well and remains one of the Charitys primary income streams. We are expanding into several new schools and developing a targeted strategy to maximise our impact. Our community-based recreational sessions are ongoing. reinforcing the presence of the GTFC badge within local communities. New sessions have been introduced, funded by Young People Support Services and the Police & Crime Commissioner, aimed at reducing crime and engaging young people in positive activities. These include Saturday sessions and Holiday Courses. The Foundation continues to deliver the Holiday Activity and Food IHAF) programme, providing school-aged free school meals with enriching activities and a nutritious meal. Led by our dedicated coaching team, this initiative has also allowed many young GTFC fans lo experience attending a home fixture at Blundell Park. The BTEC programme, in partnership with Franklin College, continues to grow. wth the exciting addition of a girls, programme launching post year-end in September 2024. Discussions are also ongoing with the College regarding the development of additional facilities to support this expansion. Programmes funded through the English Football League in the CommunitylEFLitC) remain a key focus, with the University of South Wales Foundation Degree course being our largest source of income. Student numbers are steadily increasing each year, and we are committed to further developing this programme. Our work wilh the Premier League Charitsble Fund (PLCF) continues through initiatives such as Premier League Primary Stars in primary schools and Premier League Kicks, which uses football as a tool to engage young people and support their. A new programme, The Fans Fund, has also been introduced, focusing on mental health and Ihe positive role foolball can play in this area. Additionally, the Charity has been actively involved in the Heritage Fund project, developing a website, exhibitions, and a collection of GTFC memorabilia. This initiative ensures the rich history of GTFC is presetved and accessible for future generations. Key financial performance indicators Unit 2024 511,571 {125,085) 180,333 2023 771,284 (44,536} 281,116 Total income {Deficitl I Surplus Funds overl{under) policy target Plans for future periods Financial review The Foundation had a deficit in the year of £125,085 compared to a deficit of £44,536 in 2023. The core activities of the Foundation have continued to operate, with new funding opportunities explored to try and reach as many people in need of provisions as possible. Page 3 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Trustees. Report Policy on reserves The trustees, policy is to hold three monlh's salaries in reserves. The reserves are needed in the event of lost funding, unexpected costs or reduced income levels. The trustees therefore consider that the ideal level of reserves as at 31 May 2024 would be around £110,000. The actual reserves at 31st May 2024 are £290,805 (restricled £174,064). The policy is only a minimum target to ensure costs are covered. and the Trust is pleased to be exceeding its targets for the current year. Fundraising From time to time the Foundation will hold fundraising events aimed at raising funds to meet its core objectives. The main sources of funding however are through grant aid which is soughl for specific projects or to improve Foundation facilities. Fundraising is not carried out by a commercial partner or professional fundraiser. No complaints have been re￿iVed about fundraising carried out by the Foundation. The Foundation does not heavily promote fundraising activities and there is no undue pressure placed on any person to give money or other property. The fundraising activities are not formally monitored due to the small scale of activities carried out. Structure, governance and management Nature of governing document Grimsby Town Foundation is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 11 th February 2008. 11 is registered as a charity with the Charity Commission. The liability of the members is limited to an amount not ex￿edIng £10. The company commenced trading on 1st May 2008. i) Governing document ii) Trustee induction and training iii) Organisation ReGruitment and appointment of trustees Grimsby Town Foundation is a registered charity (charity number: 1123447) and as such is operated by a board of trustees. The board of trustees meet quarterly and provide strategic guidance and governance. The Trust is continually seeking to develop a broader skills mix of trustees in order to support and advance the current level of service offered. When considering appointing new trustees. the Board has regard to the requirement for any specialist skills needed in order to support the charities work. Induction and training of trustees New trustees are welcomed and encouraged to sit down wth the Head of Foundation to better understand the day to day operations and challenges faced by the Foundation. Training and induction will depend on the existing experience of the Trustee. their knowledge of Trustee responsibilities as well as Foundation services and objectives and will be tailored to the individual in a friendly and informal manner. Arrangements for setting key management personnel remuneration Key management personnel comprises of the trustees and other officers listed on page 1 of the accounts. Only the Head of Foundation receives remuneration for their work and their salary is set by the board of trustees which is confirmed by the Chair of the Board on an annual basis. Page 4 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Trustees. Report Organisational structure A Director of Community is appointed by the trustees to manage Ihe day to day operations of the charity. To facilitate effective operations. the Director of Community has delegated authority, within temis of delegation approved by Ihe trustees, for operational matters including finance, employTnent and general development of the charity. All areas of the charities operations and developments are reported upon by the Director of Community to the trustees. The Director of Community has overall responsibility for the Charity, including g0veman￿. quality assurance and financial oversight. The Director of Community reports direcdy to the Board of Trustees and will professionalise and modemise the Charity, ensuring competence and compliance is applied throughout the Charity. The position of Director of Community went through some temporary appointments during the financial year whilst a permanent Director was recruited. The Board appointed Peter MacLeod in October 2023 as Acting Head of Foundation and subsequent to that when Peter MacLeod stepped down, one of the Trustees Mike Baker, an experienced charity CEO, fulfilled the role of Director of Community on a temporary basis for the remainder of the financial year. ultimately. a new Director of Community, Mike Thompson was recruited after the end of the financial year. On a day to day basis the Director of Community works closely with the CEO of The Grimsby Town Football Club Limited, Polly Bancroft. Polly is also a Trustee of the Foundation. All major risks have been reviewed and systems and procedures have been established to manage these risks and implement strategies to minimise any negative financial effect on the charity. Employment, Health, and Envimnmental Policies It is the companvs policy that there should be no discrimination against any person on the grounds of race, sex, religion or othetwise. In accordance with the companys equal opportunity policy, people with disability are given the same consideration as others when they apply for a job. Depending on their skills and abilities, they enjoy the same career prospects and scope for realising their potential as other employees. If an existing employee becomes disabled, reasonable steps are taken to retain them in employTnent. Within the bounds of commercial confidentialty, staff are kept reasonably infomied of matters that affect the progress of the company and are of interest to them as employees. The company maintains its own health and safety environmental policies (x)vering its activities. Adherence lo these policies is monitored on a regular basis. The Board of Directors regularly review social and environmental performance and have created an ESG dashboard which will be used to review our social and environment impact and perfomiance on a quarterly basis. This includes committing to.. . Govemance ii. Community iii. Employees iv. Customers Environment Employment of disabled persons Grimsby Town Foundation will employ disabled persons when they appear to be suitable for a particular vacancy and every effort is made to ensure that they are given fijll and fair consideration when such vacancies arise. During employment Grimsby Town Foundation seeks to work with employees, taking into account their personal circumstances to ensure appropriate training. development and advan￿ment opportunities are available to enable them to reach their full potential. Page 5 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Trustees. Report Employee involvement Grimsby Town Foundation encourages the involvement of its employees through regular management and team meetings and the dissemination of information of particular concem to employees and for receiving their views on important matters of policy. Disclosure of information to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confimi that there is no relevant infomiation that they know of and of which they know the auditor is unaware. The annual report was approved by the trustees of the charity on 26 February 2025 and signed on its behalf by: C Grocock Trustee Page 6 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Independent Examiner's Report to the trustees of Grimsby Town Foundation {'the Compan￿) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2024. Responsibilities and basis of report As the charity's truslees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan￿ 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 carrwng 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 the Companls gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of Ihe 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, 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 Grimsby Town Foundation 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 Ihe 2006 Act other than any requirement that the accounts give a Yrue 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. DoGUsvJr￿d by.. "'SSGSTFBSFE8U482'"""'"" """ Neal Warford ACA ICAEW 26 South Saint Marrfs Gate Grimsby North East Lincolnshire DN31 1LW 26 February 2025 Page 7 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Statement of Financial Activities for the Year Ended 31 May 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Total 2023 Note Income and Endowments from: Donations and legacies Charitsble activities Other income 250 241,799 6,328 250 504,993 6.328 673 765,811 4.800 263,194 Total Income 248,377 263,194 511,571 771,284 Expenditure on: Raising funds Charitable activities (2.341) 334,236 (2.341) 634,315 300,079 815,820 Total expenditure (336,577) {300,079) {636,656) {815,820) Net expenditure Transfers between funds (88,200) (36,885) {125,085) (44,536) Net movement in funds (88.200) {36.885) {125.085) (44,536} Reconclllation of funds Total funds brought forward Total funds carried forward 204,941 210,949 415,890 460,426 17 116.741 174.064 290,805 415,890 The notes on pages 12 to 23 fomi an integral part of these financial statements. Page 8 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Statement of Financial Activities for the Year Ended 31 May 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Donations and legacies Charitsble activities Other income 673 236,614 4.800 673 765,811 4.800 529,197 Total inGome 242,087 529,197 771,284 Expenditure on: Charitable activities (281,386) (534,434) {815,8201 Total expenditure 281,386 534.434 815,820 Net expenditure Transfers be￿een funds (39,299) 125.693 15,237) 125.693 {44,536) Net movement in funds 86,394 (130,930) {44,536} Reconciliation of funds Total funds brought fomard 118,547 341,879 460.426 Total funds Garried forward 17 204.941 210,949 415.890 The notes on pages 12 to 23 fomi an integral part of these financial statements. Page 9 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation (Registration number: 6500460) Balance Sheet as at 31 May 2024 2024 2023 Note Fixed assets Tangible assets 7,793 19.862 Current assets Debtors Cash at bank and in hand 12 13 70,075 249,751 88.446 395,079 319,826 483,525 Creditors: Amounts falling due within one year 14 36,814 87,497 Net current assets 283,012 396,028 Net assets 290,805 415.890 Funds of the charity: Restricted income funds Restricted funds 17 174,064 210,949 Unrestricted income funds Unrestricted funds 17 116,741 204,941 Total funds 290,805 415,890 These financial statements have been prepared in accordance with the special provisions relating to companies subject to Ihe small companies regime within Part 15 of the Companies Act 2006. For the financial year ending 31 May 2024 the charity was entitled to exemption from audtt under section 477 of the Companies Act 2006 relating to small companies. Diredors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in accordan￿ with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 8 to 23 were approved by the trustees, and authorised for issue on 26 February 2025 and signed on their behalf by.. Do¢USWJn￿ tyy". C Grocock Trustee The notes on pages 12 to 23 fomi an integral part of these financial statements. Page 10 Docusign Envelop8 ID.. ECB850DA-777D497W63-A92AE6A9E35D Grimsby Town Foundation Statement of Cash Flows for the Year Ended 31 May 2024 2024 2023 Note Cash flows from operating activities Net cash expenditure (125,085) (44,536} Adjustments to cash flows from non