Docusign Envelope ID.. EAE63921.Do914856-BO6￿BAA30BFF7A6l
SpoRr& EDUCATION TRUST
MILTON KEYNES DONS FOOTBALL CLUB
SPORTS & EDUCATION TRUST
(A company limited by guarantee)
ANNUAL REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2024
Charity number: 1123762
Company number: 06496491
Mercer
Hole

Oocusiyn Envelope ID: EAE63921-IN)914856-8069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
CONTENTS
Reference and Administralive Detalls
Page 1
Report of the Trust8es
Page 2
Independent Auditor's Report
Page 10
Statement of Financial Activities
Page 13
Balance Sheet
Page 14
Statement of Cashflows
Pag8 15
Notes lo the Financial Stalemenls
Page 16

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MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Constltutlon
Milton Keynes Dons Football Club Sport & Education TTUSt {'MK Dons Sport and Education Trusf,°MK Dons SEr.
'the SET. "the Charity") is a company limited by guarantee and a registered charity governed by its memorandum
and articles of association.
Charity number:
1123762
Company number..
06496491
Dlrectors and Trustees
The Directors of the Charitable Company {"the Charity'} are its Trustees for the purpose of charity law and
throughout this report are collectively referred lo as the Trustees.
The Truslees serving during the year and since the year were as follows:
R Gawley
M Sheridan
S Crooks
L Gear
M D Lloyd
S Muzammil {Appoinled 30th Seplember 20241
L Monlague (Appointed 30￿ September 20241
S Ashmead (Appointed 5 February 2024 and resigned 20 March 202511
J R Cove {Resigned 25 February 2025)
P J Wirikelman {Re5igned 9th Augusl 20241
M Priestley {Resigned 7th July 20241
B McBride {Resigned 71h July 20241
A Rolfe (Appointed 1 Sl July 2023 and resigned 71h July 20241
J Lancaster (Resigned 7 July 20231
Secretary
R Gawley
Key Management Personnel
Chief Executive
Head of Operations
Head of Operations
Head of Football and Performance
Head of Community Football
Head of Community Engagement
Financial Controller
M Smith
H Bladen (Appointed May 20241
C Moran (Resigned May 20241
J Dewick (Return to head of Girls Foolball February 2024>
D Walsh (Appointed June 2024)
K Day (Resigned June 20241
B Shepherd
Registered Offlce
Stadium MK
Stadium Way West
Milton Keynes
MK1 1ST
Prlnclpal Office
Stadium MK
Stadium Way Wesl
Milton Keynes
MK1 1ST
Auditors
Bank
Mercer & Hole LLP
Chartered Accountants
The Pinnacle
170 Midsummer Boulevard
Milton Keynes
MK9 1BP
Barclays Bank PLC
Leicester
LE87 28B
Sanlander
Bridle Road
Bootle
L30 4GB

Docusign Envelope ID.. EAE63921-D0914856-8069-BAA30BFF7A81
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
Introduction
This has been another year of challenge, growth and achievement for the SET.
The challenge has come with the pressures that families within our communSties face with the rise in the cost of
living. The team search for new and innovalive ways lo support our communities whilst also having lo balanc9 the
finan¢ial demands of the organisatlon. We belleve access to sport and community activity and their benefits is a
right and not a prlvilege, yet opportunltles lo play sports and be act've are unequal and so we will continue to try
and address that through schemes such as Kickz and Ihe operation of our community and sports centres at
Woughton. Brooklands. Fairfields and subsequent to year-end. Tattenhoe.
Growing the organisation is important lo meet the demand we experience and our facilities are an important part
ot enabling us to meet the needs of our participants in their own. local communities. Where we do not have fa¢ililies.
we continue to work with other partners such as Town and Parish Councils to help work with communities
throughout Milton Keynes.
The work deliVe￿d by the SET'S staff and volunteers continues to produce good outcomes for 811 as well as
achievements for individuals. For example the increasing number5 of SET players progressing lo the Academy
and the girls and women's pathway continuing to develop players through into the 1GI Team. The team continue to
be successful in attracting extra investment into the organis8tion and Milton Keynes. which is no mean achievement
in the currentfinan¢ial ¢llmate. Our work in education and community work is an important part of improving equalty
and we are proud of how parti'cipants improve their life chanc8s by engaging in projects such a5 our Degree
programme.
This report is all about the wonderlul work that the SET undertakes throughout the year but it would be improper
for me not to mention the momentous change in Ihe Football Club recently. After establishing the Football Club in
Milton Keynes 20 years ago. Pele Winkelman has now passed the Club into new ownershlp and following this.
Pete has also resigned as a Trustee of the SET. Pete was a found8r trustee of the Charity and we are grateful for
how the SET remained ¢entral to the Club's approach to the communty throughout his tenure as owner and his
active partlcipatSon as a Trustee. Thank you. Pete from all the participants. stsff and Board members of the SET
for your support and effort across those 20 fantastic years.
The new owner. Fahad Al Ghanim has great ambition for the Club and we know that the SET is also cenlral to his
approach. We look forward with excitement as to how the coming years develop. Welcome. Fahadl
Finally, we extend our gratitude to all SET staff, volunteers, and trustees for their tI￿lesS dedication and
adaptability. While we are proud of our achievements and grateful to our partners and funders, we know there is
much more to do. W& aT& committed to ensuring every part of our community can access our seNices.
We hope that you will join us in that mlS5ion as we now go through a process of reviewing and developing our
vision for the next five years.

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MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
MK Dons Sports and Edu¢allon Trust Overview
This year has been a challenging year financially, with the real impact of the cost of living affecting family's
willingness and ability lo pay for programm85. The SET has seen a decline in numbers for holiday programmes
and Player Development Cenlres have been particularly affecled by this. More requests have been made for
monthly payment options rather than annual payments both for facilities and for activities and more parents are
asking for financial help to rnaintaln their Child's attendance on our sessions.
This situation has been compounded with eXperIen￿d staff bein9 enticed to 90 lo higher paying employers outside
of Ihe industry. Current5y the SET are paying industry standard amounts based on the ¢onlract levels agr8ed with
the EFL and Premier League. Concerns acros5 the nelwork have been raised with the EFL and Premier League
but there is no immediate change in funding available.
Despite the challenges, MK Dons SET has maintalned our contribution to the community over th8 year with over
52,446 participants a¢ros$ 31 programme actlvities. There have been natural endings on five prograrnmes which
were tlme limited, including the Veterans Football Group and Brooklands Youth Club. however the majority of our
programmes remaln strong and are extending. for example our Premier League Kicks sessions.
New initiatives have been introduced around fan engagement, DementialParkinson's Walking Football, working
with the Stroke Association and Womens Walking Football, all with the aim of extending our offer around health
and addressing social isolation for adults in the community.
Significant recruitment has been undertaken across the year, with key roles now being filled with experienced
practitioners. Staff retention continues lo be a challenge bul creating opportunitie5 for continued professional
development and petsonal development within the business has prevented further reductions lo the business.
Both Boys and Girls Football pathways continue to flourlsh with increasing opportunities to join our programmes at
6-years old and slay through to adulthood, bolh playing football and also within our education pathways. which are
due lo extend in 2024125.
MK Dons SET has fantastic business partners who underpin and enable creative and forword-thinking support of
our programmes. New sponsorship deals with our principal partner 8rioche P3squier and extended sponsolship
from Suzuki provides financial. volunteering and promotion opportunities across their netsvorks about MK Dons
SET work.
Facilities
During 2023124 the SET have consolidated and improved the 3 facilities now under our ￿SponsIbl1[1Y (Brooklands
Pavilion, Fairfields Sports Hub and Woughton Pavilion). These siles a￿ normally open 9am to 10pm every day
offering a mixture of indoor and outdoor space for hire for the ￿Mmunity and for MK Dons and SET usage.
There ar6 a wide range of ￿8$onS for using the fa¢ililies'.
Education.. Pr&school nursery. personal tutoring, individual pupil support programmes, college programmes,
training delivery (e.g. FA Development ¢OUtses)
Sporting: badminton, cricket. hockey, baseball. lacrosse, laekwondo, social football and through grassroots lootball
teams (including Newton Longville. MK City. Newport Pagnell. Emerson Valley. City Colts, Fairfields FC, Stony
Strafford, Shenley FCI, the MK School footb811 league. MK Dons SET boys and girls pathway football, MK Dons
Academy football, MK Dons First Tearn training for Men and Vvomen. Yoga and finally FAJEFL lalenl days.
Community activity: parish council drop-in sessions and meetings, religious groups, dance classes, subbuteo,
school sports days. polling station. SENDlinclusion activity. holiday camps. mindfulness workshops, networking
events, mental health and health and well-being programmes

Docusign Envelope ID.. EAE63921-D0914856-8069-8AA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
Private events.. corporate fun days, parb'es (typically children's birthday partles). social gatherings and business
meetings
Most usage is from regular user groups, of which there ar8 about 50 different groups. Having Ihose regular users
{ralher than ad-hoG users} helps SET lo build a rapport and relalionships wtlh users.
Over a weekend MK Dons SET facili118s will see over 1.000 users attending activities and events.
During the yearMK Dons hasworked closelywlth MK Cty Council and with the MK Hockey Foundation-Tecetving
grants to repair the car park surface and replace the old halogen lights to LED versions to improve the evening use
and reduce carbon emissions at Woughton on the Green.
Irls Football Pathwa
Glrls Pathway
The Gids Advanced Cenlre. Emerging Talent Centre and Girls Academy are all providing positive impactful
development programmes for Girls across Milton Keynes. A process of review with individuals is underway and
over 400 girls have participated in trials wllh MK Dons SET this season. As not all players can be accommodated,
a new Player Perfomiance Centre wlll be introduced for the Autumn at Woughton on the Green specifically for girls
to help them enter the pathway.
Glrls Advanced centre
The Girls Advanced ¢entre sils as the first entry point from grassroots football inlo the girl's pathway. Successfvl
trials in May were attended by over 400 players across the Girls pathway. Opportunilie5 for the Advanced. Academy
and Emerging Talent Centres gave most girls the opportunity to play with MK Dons SET.
Glrls Academy
The Girls Academy Players are fully registered to the MK Dons SET and teams play either in the loGal MKDDL or
the JPL Warriors leagues. The 2023124 season finished in May with the girls completing a very successful
campaign; U12s finishing the league in a respedable 5th place and U13s finished an impressive 3rd in the league
this season.
The U14s have completed their first season playing 11v11 football and have won the County Cup and reached a
national semi-final. 8 players have attended FA Talent Camps and 3 players have succeeded in representing their
country this year. The FA Talent Camps are for players that have been highlighted as having the potential to
develop and become involved with the lionesses, so Ihis is a fantastic achievement for the players involved,
The U15s finished their league campaign wllh a fantastic 3rf place and this provides a good platform for them to
Iransition into the U16s. This years, U16$ have also had an excellent season, notably winning the U16 JPL league
and playoff game lo reach the JPL natlonal finals.
Since the end of the season, Ihe Girls Academy has had over 700 trialists, a significant InC￿ase over the year, to
provide a pathway for all we are exlending our player development centres to provide a girl's only roule for 2024125.
Womens Tèam
MK Dons Womens team are atlhe pinnacle ofthe womens talent pathway and sil proudly wlthln the MK Dons SET
providing an aspiration ft)r SET'S extensive pathway for young players. Last year was a turbulent year with a large
number of coaches and MK Dons Womens Team players deciding lo leave al the end of 2023124 season.
A real positive has been the retention of the majorty of our U23 players and parents and players are being very
positive about proposed structural changes being ready for the 2024125 season. This has been a very challenging
lime for all SET staff trying to manage the anxiety and expectations of players and coaches whilst still maintsining
the departments activitses during the uncertainty about players and coaches for next season. Now this is resolved

Docusign Envelope ID.. EAEfj3921-D0914856-8069-8U30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
the SET are in a position lo drive the team forwards within the SET and ensure that all poli¢ies and practices are
consistent with League and FA requiremenls.
A programme of pre-season training was slruclured wilh a fixture programme for the Womens and U23 teams and
a full squad of players are preparing for 2024125 season.
Recruitment oflhe Head Coach is ongoing, and the team are currently being supported by SET Head of Community
Football along with experienced Coaches from MK Dons SET. A full medical team are in place and with additional
funding from Suzuki for 2024125, additional medical support has been se¢ured for the development squad too.
For 24-26 MK Dons SET has secured front of shirt sponsorship from Suzuki GB who are now Sponsoring the whole
of the Womens and Inclusion programme for MK Dons SET.
Bo
s Pathwa
Centre of Excellence
MK Dons SET teams In U9 - U15 (over 100 players) have been very competitive thi5 season, receiving positive
feedback from the JPL and other clubs about how we play and how our player5 conduct themselves. Our U16's
were joint top of the league this year.
Relationships with MK Dons Academy has been extremely positive with jolnt fixtures. trials and CPD events and
successes recorded wrth six players this season progressing from the SET lo MK Dons Academy. The team are
already organising next seasons Ilnk with the Academy. where we are looking to play more gameslfesllvals, sL8ff
CPD. training and playing opportunity for our players.
Advanced
The Advanced Centre has 250 participants attendlng twice weekly and they hav8 enjoyed fixtures with Premier
League clubs during the season. The SET has developed a positive route for player development from the
Advanced Centre lo the Centre of Excellence In the Junior Premier League. with 27 player5 developing sufficiently
lo join Ihe Centre of Excellence. Trlalists are received weekly with 274 currently ￿gIstered to join for the 2024125
season. and an additional 100 players waiting to loln a new Player Skills Centre in the Autumn.
Communlty & Fan Engagement
This year the Premier League have Invested In developing fan engagement across clubs and the funds rer£ived
have enabled MK Dons SET to invest in a full-llme role to support this work. The role will explore ways of aclivaling
engagement with diverse communllles across MK. to increase the participation and diversity of fans of MK Dons.
MK Dons SET now manages all pre-match. half time and fan engagement activities for MK Dons Men's and
Women's teams.
Hollday Camps & Kellogg's Partnership
Holiday Camps were relaunched In a new Holiday Activity camps (not football exclusivel having a real emphasis
of inclusive activities for all, however still holding a lot of focus on competitive funl The sessions were supported
by Men's and Womens first team and Academy players. who attended lo meet the children. 69 individu?Is booked
the first programme. A total of 358 participants have signed up to programmes showing promise going forwards.

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MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
Custodylcrlme Div¢rslon
The MK Dons SET Custody officer role was secured for an additional year and the age range for interventions has
been increased from 18-24 to 18-30. This has helped increase the engagement rate and Thames Valley Police
have used our model to infomi others across the area.
In additlon to Gustody suite work, our cuslody officer has been engaging with communilles through wraparound
support through PL Kicks. Youth Groups aclivilies. Knife Crime workshops in schools supporting TVP and with
home schooling sessions.
Thls year has seen excellent relationships developing with HMP Springhill and the completion of three cohorts of
learners on a FA Level 1 coaching quallfi¢ation with MK Dons SET and an aspiration ft)r this relalionshlp lo expand.
Premier League Klcks
Premier League Kicks is continuing wlth 4 sesslons that in¢lude Bletchley. Slantonbury. Refugee session. Muslim
Boys, Mental Health, and Inclusion over 180 young people are currently registered to the programme. Funding ha5
been agreed for 2024125 and plans are in place to extend the PL Kicks programme to Newport Pagnell and
Tattenhoe.
Inclusion Sfjssions
Our inclusion football sessions ale continuing, and we are seeing a steady participation during the season.
PartiC4pation is high with over 10 teams particlpating Iwi¢e weekly, and over 200 participants engaged.
This year access to three fa¢llltles through MK Dons SET has enabled SET to host the BOBI (Berks Oxen and
Bucks Inclusive League). with over 1,000 players from ages under 12 to adult sections attending from Marlow,
Northampton, Bure Park, Slough, Oxford City. Leighton Buzzard and Aylesbury. We aim lo extend this further with
toumaments being hosted in Milton Keynes for 2024125
Dementia, Stroke and Parkinson football sessions have been delivered thls year working alongside key health
sector partners. Sessions included exercise sessions including. clock crickel and curfing. followed by Tefr6shm8nts
and social time. these sessions are scheduled to extend for 2024125.
Educatlon Pathways
MK Dons SET continues to deliver a range of education sessions including workshops, targeted interventions, PE
le550ns, sUPPOrting teachers within PE. educalion activations, after school clubs and events across schools within
Milton Keynes and surrounding areas. Over the year opportunities to support schools with Premier League Primary
Star¥, Joy of Moving and after-schools provision has grown with targets easily exceeded.
Prlmary Education
Our MK Dons SET team have worked hard this year lo building positive experiences Ihis academic year to relain
exisling schools and introduce new schools for 2024125. Our presence al school summer fetes and community
events increased as we moved towards the end of the academic year, with visits from our MK Dons dub mascots
Donnie ond Mooie, which we believe helps contributè to our extemal relationships.
EFL . Joy of Moving
Since the 5t¥rt of the year, the Joy of Moving programme delivery has continued to be delivered, where we have
now delivered the Joy ot Movin9 programme to 32 Cohorts totalling 943 children, surpassing the largel of 900
hlldren. Next year MK Dons SET will be pionoering a new approach to the programme for EFL with School Sports
Leads across Milton Keynes.

DocLtsign Envelope ID.. EAE63921-D0914856.B069-BAA308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
Secondary Educatlon
The team have increased engagement with Secondary SGhools, attending SEND careers events al Slantonbury
Campus and Lord Grey Academy and new relationship developing with Watling Academy and Kenls Hill School.
Our relationship with Bedford Modern Gontinues to group and new working activlties wlth oak Bank S¢hool
increases our profile with leena9ers across the area.
The Educatlon Interactlon$
This year SET have continued to re-build rel*ionships with primary. secondary schools and grassroots clubs
across Milton Keynes. The SET have re-estsblished a working relationship with the local school sports partnership
(MK SSP) which in lum will aid our visibility in schools. This year SET have provided Woughton on the Green as
location for the SSPILEAP'S pre-olympic event with 60+ School sports leadslcoordinalors.
The Educatlon pathway BTEC and Foundatlon Degree
SET have now cemented our relationship with our national training provider IVLUKI for our Post 16 education
programme, to start in September 2024. This will compliment our USW Foundation programme and will provide
pathway from 14- 25 years for education pathways into coaching with MK Dons SET and beyond.
Serious Incidents
MK Dons SET has dealt with a signiffcant safeguarding concern this year which has resulted in a referral to the
Berks and Bucks FA Safeguarding Officer and the Local A￿8 Safeguardlng Otricer (LADO)- This incident has been
reported to the Charity Commission but no follow up has been requI￿d.
FINANCIAL REVIEW & PLANS FOR FUTURE PERIODS
The slaletnenl of financial aGtivities for the period is set out on page 13. The incfease in unreslricled funds for the
period amounted 19 £5.719. However. it should be noted that this performance is SLlPPOrted by significant one off
apital grant5 reGeived in the year lo fund capital investment in the Woughton on the Green slte. Exduding this,
the charity faced a challenging year as the cost of living cri515 presented challenges both in the direct costs of the
charity and also the ability of some members of the ¢ommunity to attend courses. The Charity r8acted lo these
challenges by adapling provisions lo ensure the best value for money both for the Charity and participants noting
that these actions showed a stronger second half ot the year. giving Trustees confidence that perfom)ance will be
stronger again in 2024125.
A 3-year strategic plan for 2021-24 was approved by the Twstees which build5 upori the strong existing work in
the community that the SET have undertaken while continuing to diversify income streams. This plan was designed
as a rolling plan and so is under continuous review. These reviews cover both the value for money of programmes
along with whether a separate company will be required to Tun any activity lo ensure that contracts pursued thal
do not move us away from our core business of the SET. A new strategic plan is to be considered and agreed by
the Trustees in the coming financial year which wlll reflect the diversification of the charity to operating community
tscilities.
There remains a level of uncertainty of longer-lem) impact of the present economic thallenges of the.cost of living
crisis. and the changing community that the SETwill be operating within. However, the Strong financial perfomance
of the SET during such a challenging period over the last few years gives significant confidence in the ability of the
SET moving fofward to continue to grow despite the clear economic challenges that the community, and wider
country, are facing.
As part of consSdering the strategi¢ plan for the business, the SET has completed a f0￿C8St running through lo the
end of June 2026 to assess funding and the goin9 concem position. This document shows a combined surplus of
£145,103 over the coming tsvo financial years which would significantly increase our reserves position and lead to
a forecasled potential cash balance of £487,270 as at 30th June 2026. This forecast will allow the trustees to
consider appropriate investment to further the aGlivilies of the Charity as well as providing the financial ability to
react to any future challenges.

Docusign Envelope ID.. EAE63921-D0914656-B069.8AA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial ststements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
These forecasts ￿p￿sent continued strong financial reserves for the SET and provide comfort to the Trustee's
that the SET can look to the future as a time of opportunity despfte the uncertainty of recent years and the present
economic climate. These forecasts consider the continued consolidation of current operations and expansion of
new operations at the three community facilities under the Charities operation (Fairfield's Sports Hub, Woughlon-
on-Ihe-Green and Brooklands Pavilion) along with the continued push to provide the highest quality services in the
Football Development and Education and Inclusion space.
The Trustees do not anticipate that there will be any fundamental change in the development of the charity's
operations during the coming year. The Trustees are mindful that future years may present additional challenges
as contracts come up for renewal in the current economic climate and sustainability of new endeavours in the can
be fully assessed.
Audltors
A proposal to ￿appOInt Mercer & Hole will be considered al the Annual General Meeting.
Reserves pollcy
During the annual review of the reserves policy. Milton Keynes Dons Football Club Sports and Education Trust
Trustees reapproved the existing policy. The policy requires two reserves-
1) A general reserve of no less than £119.400.
2) An unrestricted designated reserve of £39.175 to cover the replacement costs of major fixed assets.
The accumulated funds on 30 June 2024 were £297,686 (2023: £291,967) relating to unrestricted funds and £1,263
{2023: £4.4271 relating to restriGted funds.
Posl balanGe sheet events
No matters or circumstances have arisen since the financial period end which signiffi¢antly affected or may
5ignifiGantly affeGt the operations of the charity. the results of these operalions or the slate of affairs of the charity
in the financial period subsequent to the financial year ended 30 June 2024.
Related Partles
The charity works closely with MK Dons Football Club. Stadium MK Group, Milton Keynes CounGil and the other
bodies in Milton Keynes. Where Trustees of the charity are also a55o¢ialed with these other bodles and deGi5ion$
are being made relating to funding to the Charity. these Trustees are excluded from the decision-making process.
Trustees, responsibilities in relation to th¢ linan¢lal Statements
The Truslees (who are also Directors ot the SET for the purposes of company law) are re5pon5ible for preparing
the Trustees. Annual Report and the financial statements in accordance with applicable law and United Kingdom
A¢counling Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financlal stalements for each finan¢ial year. which give a true and
fair view of the state of affairs of the Charitable Company and of the incoming resources and applicatson of
resources. inGluding the income and expenditure. of the Charitable Company for that périod. In preparing these
financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
obseNe the methods and principles in the Charities SORP 2019 FRS 102.,
make judgements and estimates that are reasonable and prudent.,
stale whether applicable UK accounting standards have been followed. subject to any material departures
disclosed and explained in the financial statements.

Docusign Envelope ID.. EAE63921-D0914856.B069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
REPORT OF THE TRUSTEES
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charitable Company will continue in business.
The Truslees are responsible for maintaining proper accounting records that disclos8 With reasonable accuracy at
any lime the financial position of the Charitable Company and enable them to ensure that the financial statements
comply with the Companies Act 2006. The Trustees are also responslble for safeguarding the assets of the
Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
In 50 far as the Trustees are aware:
there is no relevant audit infomiation of which the Charitable Company's auditor is unaware; and
the Trustees have taken all steps that they ought to have laken to make themselves aware of any ￿levant
audit information and to establish that the auditor is aware of that information.
By order of Ihe Trustees:
Do¢WJn•d ty.
E94012llD4ZO...
Ryan Gawley
Trustee
26 March 2025

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MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
INDEPENDENT AUDITOR'S REPORT
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF kllLTON KEYNES DONS FOOTBALL CLUB
SPORTS & EDUCATION TRUST
Oplnlon
We have audited the financial statements of Milton Keynes Dons Football Club Sports & Educa￿on Trust for the
year ended 30 June 2024 which comprise Statement of Financial Aclivilies. the Balance Sheet, the Statement of
Cash Flows and Notes to the financial slatemenls, including a summary of slgnlflcanl accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards. including Financial Reporting Standard 102 The Financial R8POrting Standard appliGable
in the UK and Republlc of Ireland (United King(iom Generally Accepted Accounting Practice).
In our opinion the financial stalemenls-
give a true and fair view of the state of the ¢harilable company's affairs as at 30 June 2024, and of its incomlng
resources and applicalion of ￿Sources. in¢lu¢Jing ils income and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pfactice,.
and
have been prepared in aocordance with the requirements of th8 Companies Act 2006.
Basls for oplnlon
We conducted our audil in accordance wi(h International Stsndards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responslbllities for the audit
of Ihe fingnGio1 statements section of our report. We are independent of the charitable company in accordance with
the ethical requirements that are relevant to our audlt of the finan¢ial ststements in the UK. including th8 FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these reqLJirements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relallng to golng concern
In auditing the financial ststement$. we have concluded that the Trustees, use of the golng ¢on¢em basis of
accounling in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relatin9 to event5 or
condltions that. indlvidually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going con¢em for a period of al least twelve months from when the fin¥ncial statemen15 are
aulhorised for issue.
Our responsibilities and the responsibilities of the TTuslees with respect lo going Concem are described in the
relevant se¢tlons of this report.
Other Information
The other information comprises the information included in the annual report of the Trustees. other than the
financial Statements and our auditorfs report thereon. The Trustees are ￿sponsible for the other InfO￿allOn
ontained within the annual report of the Trustees. Our opinion on the financial statements does not cover the
other infom7ation and, except lo the extent olheNise explicitly stated in our report, we do not express any form of
assurance conclusion thereon. Our responsibility is lo read the other information and, in doing $0, consider
whether the other Infomialion is materially inconsistent with the financial ststemenls or our knowledge obtained in
the course of the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material mi53tatements. we are required to delermine whether this gives rise lo
material misstatement in the financial ststements themselves. If, based on the work we have performed. we
conclude that there is a material mis5talement of this other information, we are required to report thal fact.
We have nothing to report in this regard.
10

Do¢usign Envelope ID.. EAE63921-D0914856-B069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
INDEPENDENT AUDITOR'S REPORT (CONT'D)
Matters on which we are required to report by exception
In the light of our knowledge and underslanding of the charitable company and its environment oblained in the
Course of Ihe audit, we have nol identified material misstatements in the Trustees, report.
We have nothing to report in respect of the following matters in relatson to which the Companies Act 2006 requires
us to report to you if, In our opinion:
adequate accounting records have not been kept. or relums adequate for our audit have not been received
from branches not visited by us., or
the financial ststements are not in agreement wbth the accounting records and returns- or
certain disclosures of Directors. remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled lo prepare the financial statements in accordance with the small companies.
regime and take advantage ol the small companies, exemptions in preparing the Directors, report and from
the requirement to prepare a strategic report.
Responslbllltles of Trustees
As explained more fully in the Trustees. responsibilities slalemenl set out on pages 8 and 9, the Trustees (who are
also the Directors of the charitable company for the purposes of company lawl are responsible for the preparation
of the financial slalements and for being satisfied that they give a true and fair view. and for such internal control
as the Trustees detemine is necessary to enable the preparation of finan¢ial statements that are free from material
misstatement, whether due to fraud or em)r.
In preparing the financial statements. the Trustees are responsible for assesslng the ¢harilable ¢ompany's ability
to continue as a golng concern, dis¢10slng, as applicable. matters related to going concern and using the going
concern basls of a¢¢ounting unless the Tnjstees either intend to liquidate the charitable company or to cease
operations. or have no realisti¢ alternative but lo do so.
Auditor's responsibllities for Ihe audit of the financial statements
Our oble¢tlves are to obtain reasonable assurance about whether the financial statements as a whole are fre& from
material misstatement. whether due to fraud or error. and lo issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance
with ISAS (UK) wlll always detect a material misstatement when it exists. Misslalemenls can arise from fraud or
error and are considered materi81 if. individually or in the aggregate, they could reasonably be expected to influence
the eoonomic decisions of users taken on the basis of these financial statements
Irregularities. including fraud. are Inslances of non-¢ompliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above. to detecl material misstalemenls in respect of ir￿guI8￿tie$.
including fraud. The exlent lo which our procedures are capable of delecling irregularities, Including fraud, is
detailed below.
Explanatlon as to what extent the audlt was considered capable of deteGting irregularlties, Including fraud
We gained an understanding of the logal and regulatory framework applicable to the company and the industry In
which it operates and considered the risk of acts by the company that were contrary to applioable laws and
regulations, including fraud. These included. but were not Similed lo, the Companies Act 2006. Charities Act 2011,
Charities SORP 2019 and tax legislation.
We evaluated management's incentives and opportunitles for fraudulent manipulation of the financial statements
and the financial report (including the risk of override of controls}, and determined that the principal risks were
related to posting inappropriate entries including journals to overstate revenue or understate expenditure and
management bias in accounting estimates.

t)ocvsign Envelope ID.. EAE63921-D0914856-B069-8AA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
INDEPENDENT AUDITOR'S REPORT (CONT'D)
Audlt procedures perfomed by the engagement team Induded:
discussions with management. including considerations of known or suspected instances of
non-compliance with laws and regulations and fraud:
gaining an understanding of management's controls designed to prevent and detect irregularities.,
and
identifylng and lestinglournal entrles.
Owing to the inherenl limitalions of an audil. there is an unavoidable risk that we may not have detected some
material misstatemenls in the financial ststemenls. even though we have properfy planned and perfonned our audit
in accordance with auditing slandards. For example, the further removed non-compliance with laws and regulations
lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the Inherently
limited procedures required by auditing slandards would identify it. In addition, as with any audit. there remained a
hi9her risk of non-delection of irregularities, as Ihese may involve ¢ollusion. forgery, intentional
omissions,
misrepresenlalions. or the override of internal controls. We are not responsible for preventing non-Gompllance and
¢annol be expe¢led to detect non-¢ompliance with all laws and regulations.
A further description of our responsibilities is available on th8 Financial Reporting Council's website al:
www.frc.or .uklauditorsres
onsibilities. This description fo￿nS part of our auditoffs report.
Use of our report
This report Is made solety to the Charitable CoMpan￿S members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the ¢haritsble
company's members those matters we are required to state to them in an audilorfs report and for no other purpose.
To the fullest extent pemiitted by law, we do nol accepl or assume responsibility lo anyone olherthan the charitable
company and the charitable company's members as a body. for our audit work, for this report. or for the opinions
we have fomed.
N-trctyo Hdi IL¢
Philip Fenn ACA FCGA
(Senior Statutory Auditor)
For and on behalf of
Mercer & Hole LLP
Chartered A¢¢ountants and Registered Auditors
Date:
2bik (XcLth Zoif
12

Docvsign Envelope ID.. EAE63921-D0914856-8069-BAA308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED
30 JUNE 2024
INCLUDING INCOME AND EXPENDITURE ACCOUNT
Note
Unrestricted
Funds
Restricted
Fund5
Total
2024
Total
2023
Income and Expendlture
INCOME:
Donations and legacies
401.717
401.717
285,197
Income from charitable
aclivikn.es
1,034,719
228,830
1.263.549
1.161,767
Other Income
1.766
1,766
544
Total Income
1.438,202
228,830
1,667,032
1.447.508
EXPENDITURE:
Expenditure on charitable
activities
11.432,324)
{232.147)
(1,664,471)
(1,527,128)
Total Expendlture
11.432.324)
(232.147)
1,664.471
1,527,128}
Nel in¢omel(expenditure)
5,878
13,317)
2.561
{79,6201
Transfers between funds
(1591
159
Net movement In funds
5.719
(3.158>
2.561
179.620)
Reconclllatlon of funds
Total funds brought forward
291.967
4,421
296.388
376,008
Total funds Carrlod
forward
297,686
1,263
298.949
296.388
The statement of financial activities includes all gains and losses recognlsed in the year. All income and expenditure
derive from continued activities.
The accompanying accounting policies and notes fom an integral part of the financial statements.
The 2023 comparative includes both restricted and unrestricted funds, a breakdown of the comparatives can be
found in Note 21 to these financial stslements.
The notes on pages 16 to 30 form part of these financial slalements.
13

Docusign Envelope ID.. EAE63921.D0914856-Bo6￿8AA3oBFFFA6l
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
BALANCE SHEET
Note
2024
2023
Flxed Assets
Tangible assets
171,900
19.471
Current Assets
Debtors
Cash at bank and in hand
12
119,573
344,022
463.595
222.199
355,454
577.653
Total Current Assets
Credltors:
Amounts fallSng due wSlhln one
year
13
{315,202}
(283.004)
Net cyr￿nt As$ets
148.393
294,649
Provisions For Liabilitigs
20
(21.3441
{17,732)
Net Assets
298,949
296,388
Charlty Funds
Restricted Funds
Unrestricted Funds
16
1,263
297.686
4,421
291,967
296,388
16
Total Charlty Funds
16
298,949
The Trustees hove prepared a¢counts in accordance with section 398 of the Companies Act 2006 and section 138
of the Charities Act 2011. These accounts are prepared in accordance with the Charity SORP. Financial Reporting
Standard IFRS1021, and the special provisions of Part 15 of the Companies Act relating to small companies and
conslilule the annual accounts requlred by the Companies Act 2006 and are for circulation lo members of the
company.
Approved by Ihe Board of Trustees on 26 March 2025
Ryan Gawley
Trustee
Company number: 06496491
14

Docusign Envelope ID.. EAE63921.D0914856.B06&8AA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
STATEMENT OF CASHFLOWS
Notes
2024
2023
Cash generated from operating activitios
18
161.275
68,212
Cash flows used In Investlng actlvltles
Purchase of tangible fixed assets
{172.707)
121,4311
Net cash used In Investlng activiti0$
(172,7071
{21,4311
Cash provlded by flnan¢lng actlvlties
Investment income
Not cash providgd by financing activities
IDe¢reaseVln¢rease In cash and cash equivalents
in the year
Cash and cash equivalents al Ihe beglnning of Ihe
year
(11,432)
46,781
355,454
308,673
Cash and cash equlvalents at the end of the
year
344.022
355.454
15

Docusign Envelope ID: EAE63921-D091485&B069-BAA308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policles
The principal accounting poli¢ies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial statements. applied in both the ¢urrenl and prior year, are as follows-
a} Basis of prgparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charilies..
statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 leffeclive 1
January 2019) - {Charities SORP IFRS 10211, the Flnancial Reportlng Standard applicable in the UK and
Republic of Ireland IFRS 1021. and the Companies Act 2006.
Milton Keynes Dons Football Club Sport5 & Education Tnjst meets the definition of a public benefit entity
under FRS 102. Assets and liabilities are initially recognised al hislorical cost or transaction value unless
otheNise stated in Ihe relevant accounting policy noles.
b) Preparation of the accounts on a going concern basis
At the time of approving the financial statements, in assessing the going concern assumption, the Trustees
have reviewed management information and forecasted cash flows through to June 2026 whlch have
factored Sn the increasing costs in the current economic climate along with building in mitigation around
further diverslfi¢alion of funding streams. The ￿ntInuIng impact of the current economic climate is unclear,
and this does create a risk that the assumptions used in assessing the going concern assumption could
prove to be inaccurate. but on balance the Trustees are of the opinion that the Charity has sufficient liquid
resources available to deal with the changing circumstances and continue operating for the fO￿Seeable
future.
The Charlty has a healthy cash poslllon which provides sufficient reserves to manage the forecasted
performance up to al least 30 June 2026. Thls cash forecast has been calculated with high levels of
prudency given the tjncertainties above. The Charity also has a supportive relationship with the MK Dons
Football Club and the wider Stadium MK Group as well as MK Council.
The financial slatements have therefore been prepared on the going concern basis.
c) Income
Income is recognised when the Charity has entitlement to the funds. any performance conditions attached
lo the items of income have been mel. il Is Probable that the income will be received and the amount Can
b8 measured reliably.
Income from govemment and olher grants. whether 'capitsl' grants or'revenue. grants. is recognised when
the Charity ha5 entitlement to the funds. any performance conditions attached to the grants have been met,
it Is probable Ihat the income will be received and the amount can be measured reliably and is not deferred.
16

Docusi9n Envelope ID.. EAE63921-DO914856-B06￿8AA3OBFF7A6l
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies {continued}
dl Donated services and fa¢illlles
Donated professional servi￿$ and donated faciliues are recognised as income when the Charity has control
over the item, any conditions associated with the donated item have been mel. the receipt of e¢onomic
benefit from the use by the Charity of the item is probable and that economic benefit can be measured
reliably. In accordance with the Charities SQRP IFRS 1021, 9gneral volunteer time is not recognised and
refer lo the Trustee's annual report for more Information about volunteer contribution.
On receipt. donated professional services and donated facilities are recognised on the basls of the value of
the gift to the Charity which is the amount the Charity would have been willing to pay to obtain servi￿$ or
facilities of equivalent economic benefit on the open market.. a corresponding amount is then recognised in
expenditure in Ihe period of receipt.
e) Intere51 receivabl8
Interest on fijnds held on deposll Is Included when re¢elvable and Ihe amounl can be measured rellably by
the Charity.. this is nomially upon nolificalion of the Interest pald or payable by the bank.
n Fund accounting
Unreslricled funds are available to spend on activities that fvrther any of the purposes of Charity. Designated
funds are unrestricted funds of the Charity which the Trustees have decided at their discretion to sel aside
to use for a specific purpose. Restricted funds are donations which the donor ha5 specified are to be solely
used for particular areas of the Charity's woik or for specific projects being undertaken by the Charity.
g) Expendlture and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.
il is probable that settlement will be required and the amount of the obligation can be measured rellably.
Expenditure is classified under the following activity headings:
• Cost of raising funds comprises the costs of activities outside the delivery operations of Ihe Charity.
Expenditure on charitable activities comprises the costs of commercial trading includin9 the running of the
football courses and their associated costs.
Irrecoverable VAT is Charged as a cost against Ihe activity for which the expenditure was incurred.
h) Allocation of support costs
Support costs are those functions that assist the work of the Charity but do not directly undertake charilable
aclivilies. Support costs include back office costs. finance. personnel. payroll and governance costs which
support the Charity's programmes and activities. These costs have been allocated between c05t of raising
funds and expenditure on charitable activitie5. Thg bases on which support costs have been allocated are
set out in Note 8.
17

Oocuslgn Envelope ID: EAE63921-D0914856-8069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accountlng Policies Iconllnued)
i) Employee beneftts
The costs of short-temi employee beneffts are recognised as a liability and an expense. unless those costs
are required to be recognised as part of the cost of stock or fixed assets.
The Cost of any unused holiday enliUemenl is ￿cOgnised in the period In whlch the employee's services are
received.
Terminalion beneffts are recognised immediately as an expense when the Charity is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
S) Operating leases
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain
wilh the lessor are charged to the statement ot rinancial activities on a straight line basis.
k) Tangible fixed assets
Individual fixed assets are capilalised at cost and are dep￿dated over their useful economic lives on a
straight line basis as follows-
Asset Category
Annual rate
Leasehold improvements
Plant and machinery
IT equipment
Motor vehicles
The non ¢an¢ellable lease term
5 years Straight line
3 years straight line
5 years straight line
l) Debtors
Trade and other debtors are recognised at the settlement amount due after any Irade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
ml Cash at bank and in hand
Cash at bank and cash in hand includes cash and short leTm highly liquid investments wlth a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar ac¢ounl.
n) Creditors and provisions
c￿dItorS and provisions are re¢ognised where the Charity has a present obligation resulting from a past
event that will probably result in the transfer of funds lo a third party and the amount due lo settle the
obligation can be measured or estimated reliably. Creditors and provisions ar8 normally r8¢ognised at their
settlement amount after allowing for any trade discounts due.
o) Financial instruments
The Charity only h05 finan¢ial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al transacllon value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently measured at
amortisod cost using the effective interest method.
18

Docusign Envelope ID.. EAE63921-D091485&B069-BA4308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies (continued)
p} Pensions
The Charity operates a defined contributron pension scheme for employee5. The assets of the scheme are
held separately from those of the Charity. The annual Contributions payable are charged to the statement
of financial activities.
q} Taxation
The Charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or
section 252 of the Taxation of Chargeable Galns Act 1992 to the extent that these are applted to ils
charitable objectives.
2. Legal status of the Charity
The Trust is a Company limited by guarantee and has no share Gapital. In the event of the Charity being wound
up, the liabilty in respect of the guarantee is limited lo £1 per member of the Charity.
3. Income earned from donations and legacies
Unrestrl¢ted
Funds
Restrlcted
Funds
Total 2024
Total 2023
MK Dons Limited
192,595
209,122
192,595
209.122
185,245
99,952
Other
401.717
401.717
285,197
4. Income from charitable activities
Unrestricted
Funds
Restrlcted
Funds
Total 2024
Total 2023
Central & Business Development
Education & Inclltsion
53.333
228.386
401.008
351.992
53.333
359,406
401.008
449,802
64,740
326.863
309,667
460,497
131.020
Communities and facilities
Football & Community Development
97.810
1,034,719
228.830
1.263.549
1,161,767
19

Docusign Envelop8 ID: EAE63921-D0914856-B069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
5. Other Income
Unrestrlcted
Funds
Restrlcted
Funds
Total 2024
Total 2023
Other Income
1.766
1,766
544
1.766
1,766
544
6. Analysis of expenditure on charitsble activities
Unrestrl¢ted
Funds
Restrlcted
Funds
Total 2024
Tolal 2023
Central & Business Development
192.595
192.595
185,245
Education & Inclusion
152.632
132.319
284.951
197,563
Football & Community Development
387,955
99.828
487.783
535,384
Community Facilities
454,309
454,309
348.291
Other Operational Costs
56,264
56.264
18.783
Depreciation
20.278
20.278
2,660
Bank Charges
13.755
13.755
3.586
Support Costs (see Note 81
133.898
133.898
216.980
Govemance Costs {see Note 8)
20,638
20,638
18,636
1.432.324
232.147
1.664,471
1.527.128
7. Net incomellexpenditure) for the year
This is statod aftor charging..
2024
2023
Depreciation
(20.2781
{2.6601
Auditorfs remuneration:
Audit of Company's Financial Statements
(7.560)
(8.496)
20

Docusign Envelo￿ ID.. EAE63921-D091485fTrB069-BM308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
8. Analysis of governance and support costs
General
Support
Governance
Function
Total
Basis of apportionment
Salaries, wages, and related costs
110,707
110.707
AIIoc8tion of time &
invoiced amounts
General office
1,698
6,422
15,071
1,698
6,422
15.071
13,078
7,560
Invoiced amounts
Invoiced amounts
Travel expenditure
Other expenditure
Legal and other professional fe8S
Audit and accountancy fees
Invoiced amounts
Invoiced Amounts
Invoiced Amounts
13,078
7.560
133,898
20.638
154,536
9. Analysis of employee costs, Trustee remuneration and 6xpenses. and the cost of key management personnel
2024
2023
Salaries and wages
659.877
663,137
Soclal securfty costs
39.985
37,609
Pension costs
33,792
31,156
733,654
731.902
The number of employees receiving emoluments in exoess of £60,000 is as follows
2024
2023
£60.000-£69.999
The Charity Trustees were not paid or received any other benefits from the Charity in the year (2023.. £nill-
Trustees were reSmbursed expenses during the year of£Nil12023'. £3211. No Charity Trustee received payment
for professional or other servi¢es supplied to the Charity (2023.. £nil)-
The key management personnel of the Charity comprises of the Trustees and the key management personnel
as disclosed on page 1.
The total pay and employee benefits of key management personnel of the Charity was £145,829 {2023.'
£125.4611.
21

Docusign Envelope ID- EAE63921-DO914856.B069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
10. Employee numbers
The average monthly number of persons (including Directors) employed by the Charity during the year was as
follows:
2024
Number
15
38
2023
Number
17
53
Full time employees
Part lime employees
53
70
The spllt between support and delivery staff was as follows..
2024
Numb8r
2023
Number
Support
Delivery Employees
49
65
53
70
11. Tangible fixed assets
Plant &
Machinery
Offlce
Equ¢pment
Motor V•hiclas
Total
Cost
As at 1 July 2023
Additions
Disposals
As al 30 June 2024
61,166
20.784
172.707
68.425
150.375
172,707
61,166
193,491
68,425
323,082
Accumulated depreciation
As at 1 July 2023
Charge
On disposals
As at 30 June 2024
60.522
185
1.957
20,093
68.425
130,904
20,278
22.050
68,425
151.182
Net Book Value
As at 30 June 2024
460
171.440
171,900
As at 30 June 2023
644
18,827
19,471
22

Docusign Envelope ID.. EAE63921-DO914856.B069-BAA308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
12. Debtors
2024
2023
Trade Debtors
94,698
162.770
Prepayments and olher deblors
11,425
59,429
Accrued Income
13,450
119.573
222,199
13. Cr8dilors- amounts falling due within one year
2024
2023
Trade CrediloTs
57,839
27.045
Taxation and Social Security
12,737
14.632
Accruals
128,531
74,752
DefeThed Income
110,844
153,214
Other Creditors
5.251
13,361
315.202
283,004
14. Deferred Income
Included within credltors are balances relallng to deferred in¢ome. Deferred income comprises fees and income
receipts relatin9 to future financial years.
2024
2023
Balance as at 1 July
153.214
128.096
Amounts released to Income earned from charilable
activities
{128,096)
1153,2141
Amounts deferred in year
110,844
153,214
Balance as at 30 June
110.844
153,214
15. Commitments under operating18ases
A5 al 30 June 2024 the Chartty had £Nil {2023.' £Nill of annual commitments under non-cancgllable operating
leases. The lease agreements at the annual rent of peppercorn rent were signed for five years from August 2022
to August 2027 for Woughton on the Gre8n and BrooklaDds sites. Lease agreement Can be terminated by either
party before the en¢J of the lease.
23

Oo¢usiun Envelope ID.. EAE63921-D0914856-8069-BAA308FF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
16. Analysis of charitable funds
Analysls of movements In unrestrlcted funds
Balance at
Balance at
1 July 2023
Income
Expenditure
TTansfers
30 June 2024
General fijnds
252,792
1,438.202
11.432,3241
(159)
258.511
Designated funds
39,175
39,175
Total
291,967
1,438,202
(1,432.324)
297,686
Analysis of movements In unrestricted funds - previous year
Balance al
Balance at
1 July 2022
Income
Expendlture
Transfers
30 June 2023
General fvnds
325.684
1,205,780
11.278.672)
252,792
Designated funds
39,175
39.175
Total
364,859
1.205.780
(1.278.672)
(159)
291.967
Name of unrestricted fund
Description, nature and purposes of the fund
General fund
The 'free reserves, lo cover normal fluctuations of working capital.
Designated fund
Funds sel aside by the Trustees to cover the replacement costs of major
fixed assels.
24

Doeusign Envelope ID.. EAE63921-D0914856-B069-BAA308FF7Afj1
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
16.
Analysis of charitable funds Iconlinuedl
Analysls of movements In restrlcted funds
Balance
at
1 July
2023
Balance
at
30 June
2024
Incomg
Expenditure
Transfers
PL Kicks Fund
909
50,000
(51,971)
1,062
FA Girls. Centre of
Ex¢ellen¢e
2,891
4.000
{6.8911
PL Primary Star5
Fund
591
61,858
{61,185)
1.263
Women's Euro 2022
Lega¢y
60,483
(38,876)
121,608}
Armed Forces
Covenant
413
1413)
Divert
18,750
118,7501
Emerging Talent
Centre
30
33.326
{54.061)
20.705
Total
4,421
228,830
1232,147)
159
1,263
25

Docusign Envelope ID.. EAE63921.DO91485&B069.BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
16.
Analysis of charttable funds Iconlinuedl
Analysis of movements In restrlGted funds - pr8vlous year
Balance
at
1 July
2022
Balance
at
30 Jung
2023
Income
Expenditure
Transfers
PL Kicks Fund
4,232
41,667
144,9901
909
FA Girls, Centre of
Excellence
5.617
54,393
157.119)
2,891
PL Primary Slars
Fund
1.300
46,257
{46.966)
591
Women's Euro 2022
Legacy
32.826
(32,6261
Amed Forces
Covenant
8,847
18.8471
Divert
26,123
126.1231
Emerglng Talent
Centre
31,815
131,785)
30
Total
11.149
241,728
{248,456)
4,421
Name gf restriGted fund
De$¢ription, nature and purposes of the fund
PL Klcks Fund
During the year the Charity ￿ceiVed £50.000 as funding towards the PL
Kicks project. The project is the Premier League's flagship community
programme which uses the power of football and sporl lo inspire young
people in some of the most high-need areas in England and Wales. In the
year the Charity has spent more than the funds provided and so this has
been funded by a transfer of £1,062 from unrestricled fund5.
FA Girls, Centre of Excellence
Fund
During the period the Charty received a final £4,000 of grant funding to
aid the transislion from the Centre of Excellence to Emerging Talent
Cenlre. The brought forward balance and £4.000 of income in the year
were fully ulilised to support staff salaries as the Charity Iransilioned
behveen programmes. This programme has now ended and In futur8
seasons only the Emerging Talent Centre will be operated.
PL Primary Slars Fund
During the year the Charity received £50,000 a5 funding from the Premier
League, along with £11,858 from schools lo run 3pe¢ific sessions. toward5
the PL Primary Stors project. The project uses the appeal of the Premier
League and professional football clubs to inspire chlldren to learn, be
active and develop important life skills.
Womèn's Eur05 2022 Legacy
During the year the Charity was given a further £28,000 of funding for
developmenl of Wofflen's Re¢reational Football activities as part of the
legacy ftjnding for 2022 UEFA Women's European Championship5. The
income re¢ognised lo date covers the salary of the dedicated staff
26

Oocu5ign Envelope ID.. EAE63921-D0914856-BO6￿8AA3oBFF7A6l
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
members and direct expenditLFre on the project with the remaining balance
of the funds received sitting within Deferred Income at year 8nd to be
released in future years in line with programmes delivered.
Note an amount of £21,608 has been transferred lo unrestricted reserves
in the year lo reflect the closufe of initial funding period (with the remaining
balance at this point released lo unrestricted funds) and a new funding
perlod beginning during the year.
Armed Forces Covenant
During the year the Charity received £413 of funding from The Armed
Forces Covenant Fund Trust. This funding was lo enable th8 Charity to
run projects to engage veterans of armed forces offering them, and their
families, spaces lo connect with others with a common purpose.
DIVERT with Thames Valley
Police
During the year the Charity was given a further £18.750 from Thames
Valley Police to extend the DIVERT programme. This is is an intervention
programme lo reduce re-offending. It is delivered in police custody suites
and aims to divert young adults aged 18- 25 years away from crime.
Emerging Talent Centre
During the period the Charity received £25.000 of grant funding.
supplemented by subscription fees and sponsorship, in order lo promote
the participation and development of Girl's football through the Emerging
Talent Centre which has now replaced the above Centre of Excellence
Fund. In line with the requimients of the FA the Charity are required to
provide a miTTrirnum of 50% Match Funding against the £25,000 granl
received. This 15 reflected above through the transfer of £20,705 from
unrestricted reserves as the Charity's match funding.
17. Analysis of net assets be￿e@n funds
Analysls of net asset movements between
funds
Fixed Assets
Current
Assets
Current
Llabllltles
Total
2024
Provisions
Restricted funds
1,263
1,263
General unrestricted fvnds
171.900
462.332
(315,202)
(21,344) 297,686
Total
171.900
463,595
1315.202)
21.344
298,949
27

Docusign Envelope ID.. EAE63921-D0914856-B069.BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
Analysis of not asset movements between funds - previous year
Fixgd Assgts
Curront Assets
Current
Liabllit5es
Provisions
Total 2023
Restrictgd funds
4.421
4.421
General unresliicled fijnds
19.471
573.232
(283.004)
(17.732)
291.967
Total
19,471
577,653
1283,004)
17.732
296.388
18. Reconciliation of net movement in funds lo nel cash flow from operating activities
2024
2023
Net movement in funds
2.561
179,620)
Add back depreciation charge
20,278
2.660
Decrease in debtors
102,626
66.707
Increase in creditors
32,198
78,465
Increase in provisions
3.612
161,275
68.212
19. Related party transactions
The Charity work$ c105ely with the Stsdium MK Group. Milton Keynes Cily Council and other bodies in Mllton
Keynes. Where Trustees of the Charity are also associated with these bodies and decisions are being made ielating
to the fijnding of the Charty, these Trustees are required to declare a potential confllct and exclude themselve5
from the decision making PTocess.
Milton Ke
nes Dons Limiled
During the year donations in kind to the value of £192.59512023- £185,245) were provided to the Charity by Milton
Keynes Dons Limited in relation to match tickets, equipment. accommodation and staff. In addition the Charity had
sales of £92,208 (2023.. £159,749} and purchases of £5,84712023: £52.743) with Milton Keynes Dons Limited.
The net balance outstandin9 at the year end was £44712023.. £45,977}-
28

Do¢usign Envelope ID.. EAE63921-D0914856-8069-BAA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
19.
Related party transactions Iconlinuedl
Hotel MK LlmFted
The Charity made £1,722 (2023-. £9,860) of purchases during the year from Hotel MK Llmlted. The net balance at
the year end was £nil12023.' £Nill.
Stadium MK Limited
The Charity mad& £2.60612023.' £nill of PL¢rchases during the year from Stadium MK Limit8d.The net balance
outstanding at the year end was £263 (2023: £841.
MKFM Limited
The net balance outstanding al the year end was £nil (2023.. £553).
oinlmenls with connected enlilies
P Winkelman was a diwtor of Stadium MK Group Limited, Milton Keynes Dons Limited, Inter MK Limited, Hotel
MK Limited, Stadium MK Limited. Stadium MK Properties and MK1 Parking Limited until his resignation from hls
role as Twslee on 9 August 2024.
J Cove (Trustee) was a director of Milton Keynes Dons Limited until 9 August 2024.
R Gawley (Trustee) is a director and company secretary of Milton Keyne$ Dons Limited. Hotel MK Limited. Stadium
MK Limited and MK1 Parking Limited and company secretsry of Stadium MK Group Limited, Stadium MK
Properties Limited and MKFM Limited. He was also company secretary of Inter MK Limited ￿ntil 9 August 2024.
L Gear (Trustee) is a director of The Foolball League (Community) Limited.
S Crooks {Trusteel, S Muzammil (Trusleel and L Monla9ue (Trusteel are members of Milton Keynes City Council.
M Priestley. J Lancaster, B McBride and A Rolfe were all members of Milton Keynes City Council until their
respective resignations from their role as Trustees.
M Lloyd {Truslee) is the company secretary of Suzuki GB PI¢.
20. Provisions for liabilities
2024
2023
Contract provislon
29

Docusign Envelope ID.. EAE63921-00914856-B0694AA30BFF7A61
MILTON KEYNES DONS FOOTBALL CLUB SPORTS & EDUCATION TRUST
Financial statements for the year ended 30 June 2024
NOTES TO THE FINANCIAL STATEMENTS
21. Comparative Statement of Financial Activity - 2023
UnrestriGted
Funds
ReslriGted
Funds
Total
2023
Income and Expendlture
INCOME:
Donations and legacies
285,197
285,197
Income from Charitable activities
920.039
241.728
1,161.767
Other income
544
544
Total Income
1,205,780
241,728
1,447,508
EXPENDITURE:
Costs ol raising funds
Expen¢Jiture on charitable activities
1,278,672
248.456
1,527,128
Total Expendlture
1,278,672
248,456
1.527,128
Net In¢omellexpendlture)
172.8921
{6.7281
179.620)
Transfer between funds
Net movement in funds
172,892)
16,728)
{79,6201
Reconclllatlon of funds
Total funds brought forward
364,859
11,149
376.008
Total funds ¢arrled forward
291.967
4.421
296.388
30