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← Grimsby Town Foundation

2025-05-31-accounts

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Company registration number: 6500460 Charity registration number: 1123447

Grimsby Town Foundation

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 May 2025

Forrester Boyd Robson Limited 26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

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Grimsby Town Foundation

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8 to 9
Balance Sheet 10
Statement of Cash Flows 11
Notes to the Financial Statements 12 to 22

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Grimsby Town Foundation

Reference and Administrative Details

Charity name Grimsby Town Foundation
Charity Registration Number 1123447
Company Registration Number 6500460
Trustees S Wraith
C Grocock
M Baker
J Stockwood (resigned 09/10/2025)
A Matson
P Bancroft
Registered Office Blundell Park
Cleethorpes
North East Lincolnshire
DN35 7PY
Independent Examiner Forrester Boyd Robson Limited
26 South Saint Mary's Gate
Grimsby
North East Lincolnshire
DN31 1LW
Bankers National Westminster Bank Plc
66 Victoria Street
Grimsby
DN31 1GA

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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 and auditors' report of the charitable company for the year ended 31 May 2025.

Trustees

S Wraith C Grocock M Baker J Stockwood (Resigned 9 October 2025) A Matson (Appointed 5 July 2024) P Bancroft (Appointed 25 October 2024)

Objectives and activities

Objects and aims

The Charity’s objectives (the Objects) are for the benefit of the public generally and in particularly, 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, poverty 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 football/sporting activities;

• Provide a broad range of activities and venues within North East Lincolnshire and surrounding 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, governing bodies of schools;

• Establish working relationships with, FA, PFA, Football League, Premier League, Grimsby Town Football Club, Children Services and relevant partners;

• Deliver a quality and professional service provided by FA qualified coaches;

• Establish a comprehensive and effective marketing strategy to promote and highlight the charity’s services within schools.

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Grimsby Town Foundation

Trustees' Report

Public benefit

The trustees’ have had due regard to guidance published by the Charities Commission (CC) on public benefit. They believe the below objectives and activities, along with the year’s performance, 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 to the public benefit guidance published by the Charity Commission for England and Wales.

Strategic Report

Achievements and performance

The Foundation’s school provision continues to perform well and remains one of the Charity’s primary income streams. We are expanding into several new schools and developing a targeted strategy to maximise our impact. This year saw us focus more on those schools in more economically deprived areas as well as initiating regular sessions at SEND schools for the first time.

Our community-based recreational sessions continue to grow. New Saturday morning sessions alongside holiday courses and after-school clubs have expanded the amount we offer the community. We also continue to work for wider inclusion, with girls only sessions and expanded provision for those with disabilities, for example through our Ability Counts work. The Foundation also continues to deliver the Holiday Activity and Food (HAF) programme, providing school-aged free school meals with enriching activities and a meal during the school holidays.

Our BTEC programme, in partnership with Franklin College, continues to grow, with the new girls’ programme proving a success. Elsewhere in our further education work, the Sports Coaching Foundation degree, run in partnership with the English Football League in the Community (EFLitC) and the University of South Wales, continues to thrive. Student numbers are steadily increasing each year, and we are committed to further developing this programme.

We have continued our work with the Premier League Charitable Fund (PLCF) 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. This year, we had a new PLCF funded programme, via the PL Fans Fund. This focused on helping to highlight mental health issues and signpost people to appropriate support. This was promoted on Match days with the support of former player, Nathan Arnold. Our match day work, highlighting the needs of the community and promoting key messages, expanded further, for example with our support of Children in Care, in partnership with NE Lincs council.

The Heritage Fund project, which developed a website, exhibitions, and a collection of GTFC memorabilia is now almost complete. It has ensured that the rich history of GTFC is preserved and accessible for future generations.

Key financial performance indicators

Key financial performance indicators
Unit 2025 2024
Total income £ 605,497 511,571
(Deficit) / Surplus £ (105,730) (125,085)
Funds over/(under) policy target £ 66,444 180,333

Plans for future periods

Financial review

The Foundation had a deficit in the year of £105,730 compared to a deficit of £125,085 in 2024. 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, while also taking steps to reduce the overall deficit.

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Grimsby Town Foundation

Trustees' Report

Policy on reserves

The trustees' policy is to hold three month’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 2025 would be around £119,000. The actual reserves at 31st May 2025 are £185,075 (restricted £172,861). 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 sought for specific projects or to improve Foundation facilities.

Fundraising is not carried out by a commercial partner or professional fundraiser. No complaints have been received 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 governed by its Memorandum and Articles of Association dated 11th February 2008. It is registered as a charity with the Charity Commission. The liability of the members is limited to an amount not exceeding £10. The company commenced trading on 1st May 2008.

i) Governing document

ii) Trustee induction and training

iii) Organisation

Recruitment 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 with 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. A more formal induction process is being developed for future appointments.

Arrangements for setting key management personnel remuneration

The Community Director was the only senior manager in this period. Their salary is set by the board of trustees which is confirmed by the Chair of the Board on an annual basis. The management team is due to expand in the year to May 2026.

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Grimsby Town Foundation

Trustees' Report

Organisational structure

A Community Director is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the Community Director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and general development of the charity. The Community Director reports to the trustees on all aspects of the charity’s operations.

At the start of the year, the leadership position was held on an interim basis by one of the Trustees Mike Baker, an experienced charity CEO. Mike Thompson was then recruited after the start of the financial year. On a day to day basis the Community Director works closely with the CEO of The Grimsby Town Football Club Limited, Polly Bancroft. Polly is also a Trustee of the Foundation.

A new strategy was approved during this financial year.

Employment, Health, and Environmental Policies

It is the company's policy that there should be no discrimination against any person on the grounds of race, sex, religion or otherwise.

In accordance with the company's 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 employment.

Within the bounds of commercial confidentiality, staff are kept reasonably informed 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 covering its activities. Adherence to these policies is monitored on a regular basis.

The charity Board of Trustees aims to meet the requirements of the Charity Commission’s Charity Governance Code. The Foundation is also assessed under the EFL in the community and PLCF Capability Code of Practice (CCOP).

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 full 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 advancement opportunities are available to enable them to reach their full potential.

Employee involvement

Grimsby Town Foundation encourages the involvement of its employees through regular management and team meetings and the dissemination of information of particular concern 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 confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

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Grimsby Town Foundation

Trustees' Report

The annual report was approved by the trustees of the charity on 6 February 2026 and signed on its behalf by:

......................................... 4778013F 1263484... C Grocock Trustee

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Grimsby Town Foundation

Independent Examiner's Report to the trustees of Grimsby Town Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 May 2025.

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 the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 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.

...................................... Neal Watford ACA ICAEW

26 South Saint Mary's Gate Grimsby North East Lincolnshire DN31 1LW

6 February 2026

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Grimsby Town Foundation

Statement of Financial Activities for the Year Ended 31 May 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other income
4
Total Income
Expenditure on:
Raising funds
Charitable activities
5
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
2,498
220,061
8,601
231,160
-
(335,687)
(335,687)
(104,527)
-
(104,527)
116,741
12,214		 Restricted
funds
£
-
374,337
-
374,337
-
(375,540)
(375,540)
(1,203)
-
(1,203)
174,064
172,861		 Total
2025
£
2,498
594,398
8,601
605,497
-
(711,227)
(711,227)
(105,730)
-
(105,730)
290,805
185,075		 Total
2024
£
250
504,993
6,328
511,571
(2,341)
(634,315)
(636,656)
(125,085)
-
(125,085)
415,890
290,805

The notes on pages 12 to 22 form an integral part of these financial statements. Page 8

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Grimsby Town Foundation

Statement of Financial Activities for the Year Ended 31 May 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Other income
4
Total income
Expenditure on:
Raising funds
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
250
241,799
6,328
248,377
(2,341)
(334,236)
(336,577)
(88,200)
(88,200)
204,941
116,741		 Restricted
funds
£
-
263,194
-
263,194
-
(300,079)
(300,079)
(36,885)
(36,885)
210,949
174,064		 Total
2024
£
250
504,993
6,328
511,571
(2,341)
(634,315)
(636,656)
(125,085)
(125,085)
415,890
290,805

The notes on pages 12 to 22 form an integral part of these financial statements. Page 9

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Grimsby Town Foundation

(Registration number: 6500460) Balance Sheet as at 31 May 2025

2025 2024
Note £ £
Fixed assets
Tangible assets 12 7,675 7,793
Current assets
Debtors 13 33,570 70,075
Cash at bank and in hand 14 178,949 249,751
212,519 319,826
Creditors: Amounts falling due within one year 15 (35,119) (36,814)
Net current assets 177,400 283,012
Net assets 185,075 290,805
Funds of the charity:
Restricted income funds
Restricted funds 18 172,861 174,064
Unrestricted income funds
Unrestricted funds 18 12,214 116,741
Total funds 185,075 290,805

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

For the financial year ending 31 May 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 22 were approved by the trustees, and authorised for issue on 6 February 2026 and signed on their behalf by:

......................................... 4778013F 1263484... C Grocock Trustee

The notes on pages 12 to 22 form an integral part of these financial statements. Page 10

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Grimsby Town Foundation

Statement of Cash Flows for the Year Ended 31 May 2025

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
Profit on disposal of tangible fixed assets
Working capital adjustments
Decrease in debtors
13
Decrease in creditors
15
(Decrease)/increase in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
12
Sale of tangible fixed assets
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 June
Cash and cash equivalents at 31 May		 2025
£
(105,730)
3,632
-
(102,098)
36,505
(1,367)
(328)
(67,288)
(3,514)
-
(3,514)
(70,802)
249,751
178,949		 2024
£
(125,085)
5,421
(7,741)
(127,405)
18,371
(51,423)
739
(159,718)
(3,610)
18,000
14,390
(145,328)
395,079
249,751

The notes on pages 12 to 22 form an integral part of these financial statements. Page 11

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

1 Accounting policies

General information

Grimsby Town Foundation is a company limited by guarantee incorporated in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given on page 1 of these financial statements. The nature of the charity's operations and principal activities are set out in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements cover the individual entity and have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)) and the Companies Act 2006.

The financial statements are prepared in sterling which is the functional currency of the company and have been rounded to the nearest pound.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Resources expended have been split proportionally across Restricted and Unrestricted Funds dependent on the level of income received, except in the case of specific costs which are determined to relate more fully to one of the funds.

Further details of each fund are disclosed in note 18.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Judgements

Key judgements made when applying the charity's accounting policies are largely based around cost allocations. Particularly in the case of support costs allocating amounts between funds has been done using judgement as to the best method for allocating these costs which has been discussed by the trustees and is detailed below.

Income and endowments

All incoming resources are recognised when the Charity has entitlement to the funds, the receipt is probable and the amount can be measured reliably.

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

Grants receivable

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Charitable activities

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Resources expended have been split proportionally across Restricted and Unrestricted Funds dependent on the level of income received, except in the case of specific costs which are determined to relate more fully to one of the funds.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Other expenditure

In relation to redundancy and termination payments made to previous employees these are recognised once due process has been completed and the amount can be reliably measured or estimated. If payment is uncertain or amounts cannot be measured then costs are not recognised until the aforementioned conditions are met.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, where no reliable estimate can be made support costs are split proportionately based on percentages of total income.

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

Tangible fixed assets

Assets costing £1,000 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Motor vehicles Computer equipment

Depreciation method and rate 20% reducing balance 33% straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expenses when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2 Donations and legacies

Donations and legacies;
Donations from companies, trusts and similar proceeds		 Unrestricted
funds
General
£
2,498
2,498		 Total
2025
£
2,498
2,498		 Total
2024
£
250
250

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

3 Incoming resources from charitable activities

Grants receivable
Soccer schools and courses
Other Income
Grants receivable
Soccer schools and courses
Other Income		 Unrestricted
funds
General
£
90,037
130,024
-
220,061
Unrestricted
funds
General
£
98,424
143,375
-
241,799		 Restricted
funds
£
359,558
-
14,779
374,337
Restricted
funds
£
257,415
-
5,779
263,194		 Total
2025
£
449,595
130,024
14,779
594,398
Total
2024
£
355,839
143,375
5,779
504,993

4 Other income

Income from Trading Activities
Income from Trading Activities		 Unrestricted
funds
General
£
8,601
Unrestricted
funds
General
£
6,328		 Total
2025
£
8,601
Total
2024
£
6,328

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

5 Expenditure on charitable activities

Facility hire
Employment costs
Direct project costs
Staff training
Establishment costs
Repairs and maintenance
Office expenses
Stationery, postage & advertising
Sundry and other costs
Independent examiner's remuneration
Legal and professional costs
Bank charges
Depreciation of tangible fixed assets
Bad debts written off
Staff expenses
Facility hire
Employment costs
Direct project costs
Staff training
Establishment costs
Repairs and maintenance
Office expenses
Stationery, postage & advertising
Sundry and other costs
Independent examiner's remuneration
Legal and professional costs
Bank charges
Depreciation of tangible fixed assets
Profit on sale of asset
Staff expenses		 Activity
undertaken
directly
£
30,256
474,525
103,263
2,420
18,350
2,021
-
-
-
-
-
-
3,632
10,000
9,267
653,734
Activity
undertaken
directly
£
26,867
441,889
65,615
580
18,908
1,382
-
-
-
-
-
-
5,421
(7,741)
9,531
562,452		 Activity
support
costs
£
-
-
-
-
-
-
7,488
6,334
316
3,150
38,327
1,878
-
-
-
57,493
Activity
support
costs
£
-
-
-
-
-
-
4,050
15,361
200
3,000
47,115
2,137
-
-
-
71,863		 2025
£
30,256
474,525
103,263
2,420
18,350
2,021
7,488
6,334
316
3,150
38,327
1,878
3,632
10,000
9,267
711,227
2024
£
26,867
441,889
65,615
580
18,908
1,382
4,050
15,361
200
3,000
47,115
2,137
5,421
(7,741)
9,531
634,315

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

6 Analysis of governance and support costs

Support costs allocated to charitable activities

Basis of
allocation
Governance
costs
£
Soccer Schools and
Courses
A
41,477
Basis of
allocation
Governance
costs
£
Soccer Schools and
Courses
A
50,115		 Finance
costs
£
Administration
costs
£
Other
support
costs
£
1,878
13,822
316
Finance
costs
£
Administration
costs
£
Other
support
costs
£
2,137
19,411
200		 Total
2025
£
57,493
Total
2024
£
71,863

Basis of allocation

Reference Method of allocation A Allocated as spent

Governance costs

Independent examiner fees
Examination of the financial statements
Legal fees
Total for 2025
Total for 2024
7
Net incoming/outgoing resources
Net outgoing resources for the year include:
Profit on disposal of tangible fixed assets
Depreciation of fixed assets		 Unrestricted
funds
General
£
3,150
38,327
41,477
50,115
2025
£
-
3,632		 Total
funds
£
3,150
38,327
41,477
50,115
2024
£
(7,741)
5,421

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

8 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

Other related party transactions involving the trustees are set out in note 21.

9 Independent examiner's remuneration

Examination of the financial statements

2025
£
3,150		 2024
£
3,000

10 Staff costs

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025 2024
No No
Charitable activities 18 17

The average monthly number of persons employed during the year expressed on a headcount basis was 23 (2024: 23).

The aggregate payroll costs were as follows:

Wages and salaries
Social security costs
Pension costs		 2025
£
439,484
27,797
7,244
474,525		 2024
£
409,299
25,814
6,776
441,889

During the year, the charity made redundancy and/or termination payments which totalled £Nil (2024 - £23,054).

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £217,952 (2024 - £174,175).

11 Taxation

No taxation is payable by the company, since it has charitable status and its activities are exempt from tax.

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

12 Tangible fixed assets

Cost
At 1 June 2024
Additions
At 31 May 2025
Depreciation
At 1 June 2024
Charge for the year
At 31 May 2025
Net book value
At 31 May 2025
At 31 May 2024
13 Debtors
Trade debtors
Prepayments
Accrued income
14 Cash and cash equivalents
Cash at bank
15 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income		 Plant and
machinery
including
motor
vehicles
£
15,000
-		 Fixtures,
fittings and
equipment
£
22,161
3,514		 Total
£
37,161
3,514
40,675
29,368
3,632
33,000
7,675
7,793
2024
£
37,900
7,011
25,164
15,000 25,675
11,958
608		 17,410
3,024
12,566 20,434
2,434 5,241
3,042 4,751
2025
£
11,147
6,962
15,461
33,570
2025
£
178,949
2025
£
15,125
5,781
3,552
10,250
411
35,119
70,075
2024
£
249,751
2024
£
16,029
3,748
6,458
9,840
739
36,814

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

Deferred income at 1 June 2024
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2025
£
739
411
(739)
411		 2024
£
-
739
-
739

Included within deferred income is monies paid in advance for courses and after school clubs.

16 Pension and other schemes

Defined contribution pension scheme

The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scheme and amounted to £7,244 (2024 - £6,776).

The expense has been allocated between funds using the same basis to determine the split of wage costs, namely the identification of individual staff members costs relate to and the work undertaken by staff members.

17 Members' liability

The Charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the Charity in the event of liquidation.

18 Funds

18 Funds
Unrestricted funds
General
Unrestricted fund
Restricted funds
Futsal
PL Primary Stars
PL Kicks
ETC
HAF Project
Other
Heritage Project Funding
Degree
PL Fans Funds
Total restricted funds
Total funds		 Balance at 1
June 2024
£
116,741
115,380
12,611
10,141
-
2,179
-
5,080
16,173
12,500
174,064
290,805		 Incoming
resources
£
231,160
147,923
35,000
35,000
22,269
24,258
1,000
39,760
46,627
22,500
374,337
605,497		 Resources
expended
£
(335,687)
(156,276)
(34,840)
(45,495)
(24,769)
(23,083)
(1,000)
(30,865)
(43,261)
(15,951)
(375,540)
(711,227)		 Balance at 31
May 2025
£
12,214
107,027
12,771
(354)
(2,500)
3,354
-
13,975
19,539
19,049
172,861
185,075

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

Unrestricted funds
General
Unrestricted fund
Restricted
Futsal
PL Primary Stars
PL Kicks
HAF Project
Other
Heritage Project Funding
Degree
PL Fans Funds
Warm Space
Total restricted funds
Total funds
Unrestricted funds are generated by football
organisations throughout the local area.
19 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Balance at 1
June 2023
£
Incoming
resources
£
204,941
248,377
115,821
117,214
18,025
35,000
11,525
35,000
4,522
30,080
7,350
-
36,610
-
17,096
31,900
-
12,500
-
1,500
210,949
263,194
415,890
511,571
coaching services delivered to
Unrestricted
funds
General
£
1,709
37,099
(26,594)
12,214
Unrestricted
funds
General
£
7,793
145,762
(36,814)
116,741		 Resources
expended
£
Balance at 31
May 2024
£
(336,577)
116,741
(117,655)
115,380
(40,414)
12,611
(36,384)
10,141
(32,423)
2,179
(7,350)
-
(31,530)
5,080
(32,823)
16,173
-
12,500
(1,500)
-
(300,079)
174,064
(636,656)
290,805
schools and other community
Restricted
Total funds
at 31 May
funds
£
2025
£
5,966
7,675
175,420
212,519
(8,525)
(35,119)
172,861
185,075
Restricted
Total funds
at 31 May
funds
£
2024
£
-
7,793
174,064
319,826
-
(36,814)
174,064
290,805		 Balance at 31
May 2024
£
116,741
115,380
12,611
10,141
2,179
-
5,080
16,173
12,500
-
174,064
290,805
185,075
Total funds
at 31 May
2024
£
7,793
319,826
(36,814)
290,805

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Grimsby Town Foundation

Notes to the Financial Statements for the Year Ended 31 May 2025

20 Analysis of net funds

20 Analysis of net funds
Cash at bank and in hand
Net debt		 At 1 June
2024
£
249,751
249,751		 Financing
cash flows
£
(70,802)
(70,802)		 At 31 May
2025
£
178,949
178,949

21 Related party transactions

During the year the charity made the following related party transactions:

Grimsby Town FC Ltd

(J Stockwood is a director at both entities.)

During the year there were various transactions between the charity and Grimsby Town Football Club, which is connected by virtue of the fact that one of the trustees, J Stockwood holds a directorship within this company. The transactions totalled costs incurred of £63,489 (2024: £62,709) and sales made of £316 (2024: £316).

All transactions are considered to be on normal commercial terms.

At the balance sheet date the amount due to Grimsby Town FC Ltd was £4,016 (2024 - £5,870).

M Baker

(M Baker is a trustee of Grimsby Town Foundation.)

During the year there were various transactions between the charity and M Baker, a Trustee of Grimsby Town Foundation. The transactions totalled costs incurred of £30,048 (2024: £27,288).

All transactions are considered to be on normal commercial terms.

At the balance sheet date the amount due to M Baker was £Nil (2024 - £8,160).

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