OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-07-31-accounts

Charity Registration No. 1124896

Company Registration No. 06412345 (England and Wales)

NEWCASTLE UNITED FOUNDATION (A CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

NEWCASTLE UNITED FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees F Ameobi
S Bullock
D Eales
J P B Marshall
G Mason
D C O’Neil
M F Percy
J G Ryan (appointed 13/01/2025)
M R Thompson
S Capper (appointed 07/05/2025)
D G Hopkinson (appointed 15/12/2025)
Charity number 1124896
Company number 06412345
Registered office NUCASTLE
Diana Street
Newcastle Upon Tyne
United Kingdom
NE4 6BQ
Auditor RSM UK Audit LLP
Chartered Accountants
1 St. James' Gate
Newcastle upon Tyne
United Kingdom
NE1 4AD
Solicitors Muckle LLP
Time Central
32 Gallowgate
Newcastle upon Tyne
NE1 4BF

1

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Newcastle United Foundation is led by the Senior Management Team consisting of CEO Steve Beharall, Managing Director Andy Foster, Director of Finance and Systems Helen Wilson, Head of Compliance Steve Mack, Head of Facilities and Foundation Business Malcolm Munro, Head of Business Dawn Barber, Head of Safeguarding and Wellbeing Jonny Larkin and Head of HR and Administration Katie Tasker.

Additional governance includes a Finance and Risk Committee and our subsidiary company Newcastle United Foundation Projects, both meeting quarterly to lead on specific areas of business for the board of trustees. Individual trustees lead on specific working groups including ‘people’, ‘environment and sustainability’, ’international’ and ‘nominations and remuneration’ committees.

In July 2023 we launched our latest business planning cycle to cover the period through to July 2026 to ensure our monthly business-as-usual functions are supported and resources are managed effectively. This included four high level and strategic goals:

  1. Ensure that NUCASTLE is an accessible community facility that increases physical activity, develops skills and provides greater opportunities for local people

  2. To increase programme participation opportunities where they are needed most supporting the health and wellbeing of our community

  3. To increase employability outcomes and support targeted social mobility within our community

  4. Be a leading advocate for Newcastle and the North East, taking a national and global approach to raising funds in support of our vision and mission

Our themes of work allowed us to delegate accountability and responsibility for areas of the business plan across the Senior Management Team under the leadership of the Chief Executive Officer. Progress on the business plan is reported to trustees each quarter with key metrics tracked on a monthly basis by the Senior Management Team.

2024/25 Highlights: Strategic Goals

Strategic Goal 1: NUCASTLE

Ensure that NUCASTLE is an accessible community facility that increases physical activity, develops skills, and provides greater opportunities for local people

Our business plan for NUCASTLE required achieving monthly income targets as well as developing a programme of activities that would help us achieve our vision and mission. Regular monthly forecasting of our commercial and foundation income helped us achieve target and allow additional investment in free community sessions and events.

Our focus throughout the year was to ensure that the usage of each of the roof top pitch and sports hall areas had regular bookings of more than 55 hours per week. By the year end our sports hall achieved an average 70 hours per week with 40% coming from internal foundation recharges whilst 60% was made up of regular external programme bookings. The usage on our roof top pitch achieved an average of 60 hours a week with an even split of 50% internal recharges and 50% from external programme bookings.

Commercial Income:

2023/24 - £252,963 2024/25- £310,693

Foundation recharges: 2023/24- £193,603 2024/25 - £210,346

As part of our business plan objectives, we wanted to make every effort to include residents from the local area to engage with our programmes and staff. We continued to give free access to targeted community sessions to residents from the NE4 postcode.

We place importance on local people accessing our support particularly as the deprivation outcomes continue to grow in the local area. This has led to the development of local partnerships which allowed us to reach diverse communities and respond to local need.

We supported local delivery community partners to grow services from NUCASTLE and support us to deliver our mission, locally in Newcastle. More than 50% of our community partner participants were from the NE4 postcode providing additional services for local people and reflecting local diversity. From next season we will make it a part of our booking conditions that local partners provide more data on their participants to ensure we have richer data on participants at NUCASTLE.

2

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Total value of free community access: 2023/24 - £125,658 2024/25 - £138,344

By the end of 2024/25, NUCASTLE had been open to the community 51 weeks of the year from 8:00-22:00 Monday to Friday and 9:00-21:00 on a Saturday and Sunday. We exceeded participation targets, distributed free community sessions and supported local charities, schools and colleges to help more people to be active, to learn and become more employable.

Strategic Goal 2: Programme Participation

To increase programme participation opportunities where they are needed most supporting the health and wellbeing of our community

Throughout the 2024/25 season we targeted communities across Newcastle and the North East with 56% of all programme delivery taking place in the 30% most deprived wards in England. Our targeted approach ensured that resources were directed where they would have the greatest impact, supporting individuals and communities facing barriers to physical and mental health, education, and employment opportunities.

We developed and implemented a plan and system for internal referral pathways from community programmes onto other foundation programmes with success in our secondary school programmes including our Inspires schools, Partner schools and NU Transitions schools being signposted into various local Premier League Kicks sessions. Our BTEC Esports students with no further destination (work or education) were supported into positive destinations on our employability programmes.

Our STEM schools' provision grew with in-school curriculum support delivered at NUCASTLE which was complemented by our new STEM Outreach provision, NU Tech programme delivery from the Esports room and after school provision as part of our Family Zone each evening.

During the season we moved our Premier League Kicks weekly session at Alnwick to a paid for Football Development session to reflect demographics of the participants taking part and following discussion with the local match funder we redistributed their match funding to a new targeted session at our hub site at Ashington Hirst Welfare Centre to increase capacity for the Premier League Kicks session and provide free additional holiday activity.

We made significant progress supporting Newcastle United to become a football club of sanctuary and increased the scale and impact of our programmes on offer to refugees and asylum seekers with 730 registered at various venues in Newcastle, North Tyneside and Northumberland.

The UK Government tracks Free School Meal (FSM) eligibility through both the school census and the alternative provision census. This data is crucial for identifying children who may benefit from additional support during school holidays. FSM eligibility is a key criteria for accessing our Holiday Activities and Food (HAF) programme.

Our HAF programme is nationally funded and designed to address the "holiday experience gap" faced by children from lowincome households. We delivered several HAF programmes to children and young people who were:

HAF activity was delivered from NUCASTLE supporting community groups in the local area. We provided HAF opportunities during each school holiday and supported the national HAF+ development with Newcastle and Gateshead council aimed specifically at Secondary aged pupils. We supported the launch of a pilot programme testing if HAF+ could be used to support year 6 to 7 transition including new girls only and disability HAF provision.

Strategic Goal 3: Employability and Social Mobility

To increase employability outcomes & support targeted social mobility within our community

Our initiatives throughout the season targeted both adults and young people within the community, aiming to raise aspirations, facilitate skill development, and equip individuals to achieve positive career outcomes. Our North of Tyne grant concluded in October 2024, successfully engaging 43,726 participants over three years of the funded programme.

3

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Eight Northumberland secondary school headteachers participated in an event at NUCASTLE as part of a collaboration with Connect Northumberland to discuss strategies for enhancing school and business engagement in Northumberland demonstrating our commitment to collaborate with other enterprises with a similar ambition in our region. A review of the partnership led to a refined focus on supporting our existing schools through employer engagement activities and employability collaboration.

A one-year extension of £100k was secured for careers initiatives targeting the 11–16 cohort from the North East Combined Authority (NECA), alongside two UK Shared Prosperity Fund projects (UKSPF) grants supporting employability for individuals aged 16 and above.

New funding opportunities were gradually released by NECA with guidance from the commissioning strategy informing our approach to make the most of the emerging opportunities including the ‘Connect to Work’ initiative and ‘Accelerator’ programmes.

We led and applied for Trailblazer funding leading a partnership with the Foundation of Light, Society Matters, and SmartWorks Newcastle valued at £300k and hope to deliver successful programme interventions from Autumn 2025. Within our employability provision, we delivered our ‘Talent Pools’, ‘Open Doors’, and ‘King’s Trust Team’ programmes, engaging with approximately 300 participants annually.

NECA commissioned an external evaluation of our ‘NU FUTURES’ programme which is expected to be finalised in Autumn 2025, providing valuable evidence to support further funding applications.

Our UK Shared Prosperity Fund projects were extended at 50% of their previous value; consequently, we submitted a Premier League PFA application for September 2025 focused on expanding employability work into our Ashington and Lemington communities.

Collaboration with Newcastle City Councils Evry campaign ensured our free local provision, including the Newcastle United Fans Fund and free NUCASTLE community sessions, could effectively target specific groups within our community.

We increased our subcontracted ‘Kings Trust Team’ cohorts to nine per year and received approval in principle for the 1618 age group; however, Adult Education Budget (AEB) expansion faced challenges due to funding reductions at our FE Colleges. A new partnership with Northumberland College provided additional Adult Education Budget funding sourced from our Ashington Hirst hub site with a first cohort scheduled for August 2025.

We partnered with businesses across the region to create employability pathways for young people, aiming to make recruitment more accessible. We achieved 316 job starts through the Metrocentre (2023/24 - 183) and our wider employability programmes (2023/24 - 133) involving 271 unique businesses.

Funding was secured from the Department for Work and Pensions (DWP) to fund a Youth Hub at NUCASTLE, supporting a DWP staff member to work alongside Foundation staff from NUCASTLE. This initiative focuses on employability for refugees, asylum seekers, and personal development courses.

We delivered social mobility programmes with schools, professional services, and Newcastle carers to support young people and improve access for young carers to wellbeing and career opportunities. Newcastle young carers accessed multisport and gaming sessions at NUCASTLE, and our Newcastle East mixed Academy Trust transition programme launched with two new staff focusing on year 6-7 transitions, with year 11 activities starting in September 2025/26.

Strategic Goal 4: Advocacy and Reach

Be a leading advocate for Newcastle & the North East whilst taking a national and global approach to raising funds in support of our vision and mission.

It is important that our Foundation is represented on strategic boards to represent our football club, gain local insights and collaborate. During the season, our CEO took the opportunity to join the Newcastle College Board and participate on the North East Combined Authority Culture (NECA), Creative, Tourism and Sport Advisory Board, offering strategic guidance and accessing industry insights and networks.

During the season we collaborated with other local charitable organisations including the YMCA North Tyneside, Citizens Advice Gateshead, and Society Matters, signing an MOU with a strategic and holistic focus on developing our teams and community services. This MOU is the legacy of our collaborative work following the far-right anti-immigration protest and riots in July and August 2024.

4

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Some highlighted activities over the season include attending the House of Commons Premier League 'More than a Game' event and participation in the North East Public Sector, Low Carbon Supply Chain Subgroups. Our CEO accepted an invitation to join the Newcastle University Court as well as the Bishop Chadwick Trust Health Board.

International work was scaled during the season as we set out to grow our income to support the scale and ambition of our programmes whilst focusing on developing our unrestricted funds. Our international work is delivered on a commercial basis so we can leverage revenue back into charitable activities in Newcastle and the North East.

We delivered a learning session with the British Embassy in Dubai in January as part of the ‘Great Females’ initiative and secured our first ‘Partner’ international school at St George’s International British School in Rome.

We delivered international soccer weeks in five counties including Norway, Canada, Estonia, USA, and Italy.

In June we held our first fundraising trek with 20 individuals climbing Mount Toubkal in Morocco over 4 days. This raised over £65,000 to support our disability football programmes.

We supported the delivery of the ‘Great Females’ programme in Dubai in partnership with the British Embassy, with ongoing collaboration planned, including partnership development with Cognita and support for their global school’s programme.

We created an international strategy based on programmes in international British schools, football holiday courses, football for ‘Good Causes’ and local higher education international student recruitment working with Newcastle University, Northumbria University, Newcastle College, and INTU University.

Financial Review

The total income and endowments have increased by £496k compared to the prior year. This consists of an increase in donations and legacies of £20k, an increase in charitable activities of £218k, an increase of other trading activities of £252k and an increase of investment income of £7k.

The donations and legacies income includes donations and gifts which increased by £73k. This is largely due to increased donations received from individuals. The gift in kind donation has decreased by £48k due to one off items in the prior year.

The increase in charitable activities income of £218k consists of growth in sales, offset by a decrease in fees. This was largely driven by a reclassification of fees to sales and an increase in football development and NUCASTLE sales income.

Expenditure has increased by £553k. Expenditure on charitable activities as a proportion is 94% of total activities, a reduction from 96% in the prior year. This is due to a growth in fundraising activity expenditure of £159k driven by an increase in staff salaries and additional event costs. The expenditure on charitable activities increased by £393k mainly due to the direct project costs as a result of programme growth, and the NUCASTLE costs as the operational activity increases.

Reserves policy

A large proportion of the Foundation's annual running costs are met by the receipt of grant funding (subject to any relevant performance conditions). The trustees seek to maintain the level of free reserves to cover at least three months' running costs of current activities and monitor the position twice a year. Under this calculation, the target level of reserves at the end of 31 July 2025 would be £1,584k. Reserves as at 31 July 2025 are shown in the table below, compared to the prior year.


year.
2025 2024
Reserves 10,936,963
 10,859,505
Restricted Reserves 8,122,312 8,548,836
Unrestricted Fixed Assets 307,437 394,310
Designated Reserves 614,926 531,567
Free Reserves 1,892,288 1,384,792

At £1,892k free reserves exceed the three-month running cost requirement of £1,584k by £308k, equivalent to 3.2 months of operating expenditure. The trustees review reserve levels regularly to ensure the Foundation remains financially resilient. Additional reserves are maintained to support NUCASTLE’s capital repairs and future facility projects.

5

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

Going concern

In conclusion, after making appropriate enquiries, the trustees have a reasonable expectation that the Foundation has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Investment policy and performance

The trustees have powers to invest funds as they see fit as set out in the memorandum and articles of association. At the present time, surplus cash reserves are held in short to medium term deposit accounts.

Risk management

The trustees maintain a comprehensive risk register, which is reviewed on a regular basis. Key risks are the recruitment and retention of staff, future funding streams, safeguarding and the operational and financial risks related to running NUCASTLE. The Board have considered the impact of these and other risks and are satisfied that the systems and procedures the charity has in place are sufficient to mitigate these.

Structure, governance and management

Constitution

Newcastle United Foundation is a company limited by guarantee, governed by its memorandum and articles of association dated 25 October 2007 and amended on 29 January 2010. On 8 July 2008 it registered as a charitable company with the Charity Commission (registered number 1124896).

The trustees, who are also the directors for the purpose of company law, and who served during the year and subsequent to the year-end were:

J P B Marshall C Alexander (resigned 31[st] March 2025) F Ameobi S Bullock S Capper (appointed 7[th] May 2025) D Eales D G Hopkinson (appointed 15[th] December 2025) G Mason M F Percy J Ryan (appointed 13[th] January 2025) M R Thompson B Thorpe (resigned 18[th] November 2024) D C O’Neil (resigned 17th October 2025)

Method of appointment or election of trustees

As set out in the articles of association, trustees are appointed by members. The subscribers to the memorandum and such other persons or organisations as are admitted to membership in accordance with its articles are members of the charity.

None of the trustees have any beneficial interest in the company. All the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure and decision making

Trustees meet six times a year for formal board meetings, in addition to which the Chief Executive Officer of Newcastle United Foundation meets with the chair of the trustees monthly for a business review meeting. Trustees provide leadership for the Foundation's strategy and monitor the performance to ensure the charity is staying focused on the declared mission. The trustees also provide valuable networking support and access to various other stakeholders. Board meetings also take place between four and six times a year for the Foundation’s subsidiary; Newcastle United Foundation Projects Limited. The Foundation also has two sub-committees of the board: Finance and Risk and the Newcastle United Foundation Projects Board.

6

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

The Chief Executive Officer is appointed by the trustees to manage the day-to-day operations of the charitable company and lead the senior management team. The senior management team ensures the Foundation achieves its mission and delivers its business plan, as well as working together to address key issues involved with running the organisation. During the year the Senior Management Team comprised Chief Executive Officer – Steve Beharall, Managing Director – Andy Foster, Director of Finance and Systems – Helen Wilson, Head of Compliance – Steve Mack, Head of Facilities and Foundation Business – Malcolm Munro, Head of Safeguarding and Wellbeing – Jonny Larkin and Head of HR & Administration – Katie Tasker.

The pay of key management personnel is reviewed annually. The trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with budget and forecast information, ensuring that the charity can afford any proposed increase.

Trustee induction and training

New trustees receive an induction pack which includes the memorandum and articles of association, business plan and recent financial performance of the charitable company. They are all asked to sign a Declaration of Eligibility to Act, a Declaration of Interests form and Confidentiality statement. Trustees, once appointed, receive relevant ongoing support and training in their role.

Related party relationships

Although Newcastle United Foundation is governed and financed independently of Newcastle United Football Company Limited (the Club), the Club supports the charitable company in many ways, including through gifts in kind of match tickets, discounted season tickets for staff and merchandise. Further information can be found in the notes to the accounts.

The Foundation is grateful for the continued support of the Club's owners, the Senior Management Team and staff, in particular the Safeguarding, Equality and Diversity, Legal, Facilities, Payroll and IT departments which also service the Foundation.

Public benefit

From 1 April 2008, section 4 of the Charities Act 2011 required all charities to meet the legal requirement that their aims be for the public benefit. The Trustees confirm that they have complied with the duty to have due regard to the Charity Commission's general guidance on public benefit.

The Charity Commission states that there are two principles to be met in order to show that an organisation's aims are for the public benefit, firstly, there must be an identifiable benefit or benefits and secondly that the benefit must be to the public, or a section of the public, The Trustees are satisfied that the aims and objectives of the charity, and the activities reported on above, meet these principles.

Volunteers

Our volunteers play a supporting role in delivering our football development programs, primarily focusing on disability football, which requires a high level of supervision.

Placing a monetary value on the contribution of the volunteers presents significant difficulties. With the lack of a market comparator price for general volunteers, it is impractical for their contribution to be measured reliably for accounting purposes, Given the absence of a reliable measurement basis, the contribution of volunteers has not been included as income in the financial statements.

Auditor

RSM UK Audit LLP were appointed as auditor for the 2025 financial year. Newcastle United Foundation are currently undergoing a tender process for external audit for 2026 onwards. The proposed auditor will be formally appointed at the next General Meeting of the company.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

7

NEWCASTLE UNITED FOUNDATION

TRUSTEES' REPORT (CONTINUED) (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 JULY 2025

The trustees' report was approved by the Board of Trustees.

.......................... J P B Marshall Chair 24/02/26 Dated: .........................

8

NEWCASTLE UNITED FOUNDATION

STATEMENT OF TRUSTEES’ RESPONSIBILTIES

FOR THE YEAR ENDED 31 JULY 2025

The trustees, who are also the directors of Newcastle United Foundation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

9

NEWCASTLE UNITED FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF NEWCASTLE UNITED FOUNDATION

Opinion

We have audited the financial statements of Newcastle United Foundation (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 July 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Company Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements 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 misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

10

NEWCASTLE UNITED FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF NEWCASTLE UNITED FOUNDATION (CONTINUED)

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report included within the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities set out on page 9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to 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) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of

11

NEWCASTLE UNITED FOUNDATION

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF NEWCASTLE UNITED FOUNDATION (CONTINUED)

material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the group audit engagement team:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006, Charities Act 2011, tax legislation and the parent charitable company’s governing document. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, and inspecting correspondence and minutes.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety and safeguarding. We performed audit procedures to inquire of management whether the group is in compliance with these laws and regulations and inspected correspondence with regulatory authorities.

The group audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business and challenging judgments and estimates.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’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 charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 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 formed.

Lucy Robson

LUCY ROBSON (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants 1 St James’ Gate Newcastle upon Tyne NE1 4AD

26/02/26

12

NEWCASTLE UNITED FOUNDATION

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Restricted Restricted Total Total
funds funds capital funds 2025 2024
general NUCASTLE
Notes £ £ £ £ £
Income from:
Donations and legacies 3 1,016,678 230,000 - 1,246,678 1,226,932
Charitable activities 4 3,519,297 2,354,472 - 5,873,769 5,656,256
Other trading activities 5 693,601 - - 693,601 441,280
Investments 6 86,707 - - 86,707 79,968
Total income and endowments 5,316,283 2,584,472 - 7,900,755 7,404,436
Expenditure on:
Raising funds 7 453,221 17,327 - 470,548 311,123
Charitable activities 8 4,807,742 2,545,007 - 7,352,749 6,959,443
Total expenditure 5,260,963 2,562,334 - 7,823,297 7,270,566
Net income 55,320 22,138 - 77,458 133,870
Transfers between funds 448,662 (300,000) (148,662) - -
Net movement in funds 503,982 (277,862) (148,662) 77,458 133,870
Total funds brought forward 2,310,669 1,329,358 7,219,478 10,859,505 10,725,635
Total funds carried forward 2,814,651 1,051,496 7,070,816 10,936,963 10,859,505

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

13

Company Registration No. 06412345

NEWCASTLE UNITED FOUNDATION

CONSOLIDATED BALANCE SHEET

AS AT 31 JULY 2025

Notes
Fixed assets
Tangible assets
14
Intangible assets
13
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Restricted funds
NUCASTLE capital fund
General restricted funds
Unrestricted funds
General unrestricted funds
Designated funds
Total funds20		 2025
£
£
7,374,524
3,729
7,378,253
1,132,595
3,203,527
4,336,122
(777,412)

3,558,710
10,936,963
7,070,816
1,051,496
8,122,312
2,199,725
614,926
2,814,651
10,936,963		 2024
£
£
7,607,573
6,215
7,613,788
1,152,610
3,017,425
4,170,035
(924,318)
3,245,717
10,859,505
7,219,478
1,329,358
8,548,836
1,779,102
531,567
2,310,669
10,859,505

24/02/26

The financial statements were approved by the Trustees on .........................

.............................. J P B Marshall Chair

14

Company Registration No. 06412345

NEWCASTLE UNITED FOUNDATION

COMPANY BALANCE SHEET

AS AT 31 JULY 2025

Notes
Fixed assets
Tangible assets
14
Intangible assets
13
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
17
Net current assets
Total assets less current liabilities
Restricted funds
NUCASTLE capital fund
General restricted funds
Unrestricted funds
General unrestricted funds
Designated funds
Total funds 20		 2025
£
£
141,527
3,729
1
145,257
2,633,705
2,371,420
5,005,125
(558,784)
4,446,341
4,591,598
75,000
1,137,471
1,212,471
2,764,201
614,926
3,379,127
4,591,598		 2024
£
£
152,590
6,215
1
158,806
2,320,000
2,404,353
4,724,353
(694,855)
4,029,498
4,188,304
75,000
1,385,848
1,460,848
2,195,889
531,567
2,727,456
4,188,304		 2024
£
£
152,590
6,215
1
158,806
2,320,000
2,404,353
4,724,353
(694,855)
4,029,498
4,188,304
75,000
1,385,848
1,460,848
2,195,889
531,567
2,727,456
4,188,304
158,806
4,029,498
4,188,304
1,460,848
2,727,456
4,188,304

As permitted by Section 408 of the Companies Act 2006, the statement of financial activities of the parent company is not presented as part of these accounts. The parent company's net income amounted to £403,294 (2024: £310,938) and the net movement in funds for the financial year amounted to a surplus of £403,294 (2024: £310,938).

24/02/26

The financial statements were approved by the Trustees on .........................

.............................. J P B Marshall Chair

15

NEWCASTLE UNITED FOUNDATION

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

Notes
Cash flows from operating activities
Cash generated/(used in) from operations
22
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash generated from investing
activities
Net increase/(decrease) in cash and cash
equivalents		 2025
£
£
135,161
(35,766)
86,707
50,941
186,102		 2025
£
£
135,161
(35,766)
86,707
50,941
186,102		 2025
£
£
135,161
(35,766)
86,707
50,941
186,102		 2024
£
£
(140,911)
(59,257)
79,968
20,711
(120,200)		 2024
£
£
(140,911)
(59,257)
79,968
20,711
(120,200)
186,102
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 3,017,425 3,137,625
3,017,425
3,203,527

16

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

Newcastle United Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is NUCASTLE, Diana Street, Newcastle Upon Tyne, United Kingdom, NE4 6BQ.

Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The charity has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Group financial statements

The financial statements consolidate the results of the charity and its wholly owned subsidiaries, Newcastle United Foundation Projects Limited (company number: 10423688), on a line-by-line basis. A separate Statement of Financial Activities for the charity has not been presented because Newcastle United Foundation has taken advantage of the exemption afforded by section 408 of the Companies Act 2006.

All financial statements are made up to 31 July 2025. Where necessary, adjustments are made to the financial statements of the subsidiary to bring the accounting policies used in line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group entities are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the charity will continue in operational existence for the foreseeable future.

The group and charity have prepared forecasts to February 2027 and have considered expected activity beyond this which reflects the ongoing group operational plan.

Based on the forecasts prepared, the Trustees are satisfied that the group and charity can meet its liabilities as they fall due for at least 12 months from approval of the financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

17

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (Continued)

Charitable funds (continued)

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Incoming resources

Income is recognised when the group is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the group has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Gifts in kind are included in the statement of financial activities at a reasonable estimate of their value at the time they are utilised by the group, with an equivalent amount recognised as charitable expenditure. No amounts are included in the financial statements for time donated by volunteers.

Donated services, which include match day tickets and office rental, are included in income at a valuation which is an estimate of the financial cost borne by the donor, where such a cost is quantifiable and measurable.

Interest on funds held on deposit is included when receivable and the amount can be measured by the group, this is normally upon notification of the interest paid and payable by the Bank.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

All expenditure is inclusive of irrecoverable VAT.

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software 5 years straight line

18

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (Continued)

Tangible fixed assets

Individual tangible fixed assets costing £500 or more are capitalised. Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Where fixed assets are donated, the fair value of the donation is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset category, and depreciated over its useful economic life.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 50 years straight line Plant and equipment 5 years straight line Fixtures and fittings 3 - 5 years straight line Computer equipment 3 - 5 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

Impairment of fixed assets

At each reporting end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

19

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies (Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group’s contractual obligations expire or are discharged or cancelled.

Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the group’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Income is recognised when the group is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

20

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

3 Income from donations and legacies

Unrestricted
funds
£
Donations and gifts
349,978
Grants received
-
Gifts in kind
666,700
1,016,678
For the year ended 31 July 2024
991,757		 Restricted
Restricted
Total
funds
capital funds
2025
general
NUCASTLE
£
£
£
-
-
349,978
230,000
-
230,000
-
-
666,700
230,000
-
1,246,678
235,175
-		 Total
2025
£
349,978
230,000
666,700		 Total
2024
£
276,991
235,000
714,941
1,226,932
1,226,932

Gifts in kind

Gifts in kind comprise complimentary and discounted match day tickets and hospitality, matchday advertising and staff time.

4 Income from charitable activities

By source of funding
Unrestricted
funds
£
Football coaching & education -
fees received
610,833
Sale of services as part of
charitable activities
2,343,657
Contractual payments from
governments or public authorities
-
Grants received for the provision
of services
564,807
Capital grants
-
3,519,297
For the year ended 31 July 2024
3,306,199		 Restricted
Restricted
funds
capital funds
general
NUCASTLE
£
£
-
-
50,926
-
703,679
-
1,599,867
-
-
-
2,354,472
-
2,350,057
-		 Total
2025
£
610,833
2,394,583
703,679
2,164,674
-		 Total
2024
£
703,666
2,054,154
662,418
2,210,064
25,954
5,873,769 5,656,256
5,656,256

21

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

4 Income from charitable activities (Continued)

By charitable activity
Unrestricted
Restricted
Restricted
funds
funds
capital funds
general
NUCASTLE
£
£
£
Income from:
Football and sports development
1,118,058
469,807
-
Learning and Skills
844,554
374,233
-
Health
40,500
278,212
-
NU Futures 16+
882,881
734,423
-
NU Futures 11-16
255,076
487,078
-
NUCASTLE operating activities
312,988
10,719
-
Other
65,240
-
-
3,519,297
2,354,472
-		 Total
2025
£
1,587,865
1,218,787
318,712
1,617,304
742,154
323,707
65,240
5,873,769		 Total
2024
£
1,433,267
1,136,826
419,979
1,617,087
335,469
495,976
217,652
5,656,256

5 Income from other trading activities

Unrestricted
Restricted
Total
funds
funds
2025
£
£
£
Fundraising events
643,601
-
643,601
Matchday lottery
50,000
-
50,000
Other trading activities
693,601
-
693,601
For the year ended 31 July 2024
441,280
-
Income from investments
Unrestricted
Restricted
Total
funds
funds
2025
£
£
£
Interest receivable
86,707
-
86,707
Investments
86,707
-
86,707
For the year ended 31 July 2024
79,968
-		 Total
2024
£
365,631
75,649
441,280
441,280
Total
2024
£
79,968
79,968
79,968

6 Income from investments

22

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

7 Expenditure on raising funds

Unrestricted Restricted
Restricted
funds
funds capital funds
general
NUCASTLE
£
£
£
Fundraising events
164,439
-
-
Matchday lottery
7,941
-
-
Staff costs
146,054
-
-
Other direct costs
26,653
-
-
Support costs
108,134
17,327
-
453,221
17,327
-
For the year ended 31 July 2024
296,340
14,783
-		 Total
2025
£
164,439
7,941
146,054
26,653
125,461
470,548		 Total
2024
£
49,607
27,262
115,165
20,104
98,985
311,123
311,123

23

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

8 Expenditure on charitable activities

Staff costs
Depreciation and amortisation
Direct project costs
Provision of donated tickets and facilities
Share of support costs (see note 9)
Share of governance costs (see note 9)
Total
Analysis by fund
Unrestricted funds
Restricted funds - general
For the year ended 31 July 2024
Unrestricted funds
Restricted funds		 Football and sports
development
Learning
and Skills
Health
NU Futures
16+
NU Futures
11-16
NUCASTLE
operational
Total 2025
Total 2024
£
£
£
£
£
£
£
£
1,038,983
1,215,476
336,993
780,413
528,962
460,934
4,361,761
3,587,115
2,318 -
-
29,917
237
59,801
92,273
93,711
487,960
73,254
52,230
219,615
55,345
277,657
1,166,061
1,340,820
190,730
146,398
38,283
202,143
89,146
-
666,700
714,941
1,719,991
1,435,128
427,506
1,232,088
673,690
798,392
6,286,795
5,736,587
270,324
207,490
54,259
286,500
126,347
58,332
1,003,252
1,178,928
16,895
12,968
3,390
17,907
7,897
3,645
62,702
43,928
2,007,210
1,655,586
485,155
1,536,495
807,934
860,369
7,352,749
6,959,443
1,449,271
1,156,437
133,011
883,821
365,466
819,736
4,807,742
4,456,785
557,939
499,149
352,144
652,674
442,468
40,633
2,545,007
2,502,658
2,007,210
1,655,586
485,155
1,536,495
807,934
860,369
7,352,749
6,959,443
1,362,769
986,440
164,819
925,535
266,705
750,517
-
4,456,785
567,388
375,463
398,748
721,716
172,730
266,613
-
2,502,658
1,930,157
1,361,903
563,567
1,647,251
439,435
1,017,130
-
6,959,443

24

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

9 Support costs

Support costs
Support Governance 2025 2024 Basis of allocation
costs costs
£ £ £ £
Staff and general costs 628,254 - 628,254 677,657 Income
Depreciation and amortisation 179,028 - 179,028 175,581 Income
NUCASTLE costs 314,051 - 314,051 421,119 Income
Governance costs - 70,083 70,083 47,484 Income
1,121,333 70,083 1,191,416 1,321,841
Analysed between
Raising funds 118,081 7,381 125,462 98,985
Charitable activities 1,003,252 62,702 1,065,954 1,222,856
1,121,333 70,083 1,191,416 1,321,841

10 Net movement in funds

Net movement in funds
Net movement in funds is stated after charging
Fees payable to the company's auditor for the audit of the company's financial
statements
Depreciation of owned tangible fixed assets
Amortisation of intangible fixed assets
Operating lease charges
Non-audit fees:
Taxation compliance services
Other non-audit services		 2025
2024
£
£
36,000
33,500
268,815
269,292
2,486
2,486
7,353
7,353
2,000
1,600
7,850
7,500

25

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

11 Employees

Number of employees

The average monthly number of employees during the year was:

Learning and Skills
Support
Programme Operations
NUCASTLE
Sport & Wellbeing
Community		 2025
Number
20
24
49
13
25
21
152		 2024
Number
41
25
48
17
26
-
157

Following a review of activities in the year, management have changed the internal grouping of employee departments to better describe them in line with the charitable activities with the addition of ‘Community’.

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
£
4,611,947
430,551
93,572
5,136,070		 2024
£
4,138,622
326,846
82,452
4,547,920

In addition to the above number of employees, an average of 78 (2024: 75) sessional coaches were employed during the year.

The number of employees whose annual remuneration was £60,000 or more were:

2025 2024
Number Number
£60,001 - £70,000 - 1
£70,001 - £80,000 1 1
£80,001 - £90,000 1 -

Key management have been determined to be the senior management team, defined as those having authority and responsibility delegated to them by the trustees for planning, directing and controlling the activities of the group. The total employee benefits of the key management personnel were £521,463 (2024: £434,583).

26

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Expenses reimbursed amounted to £nil (2024: £nil).

13 Intangible fixed assets

Group and charity
Cost
At 1 August 2024 and 31 July 2025
Amortisation and impairment
At 1 August 2024
Amortisation charged for the year
At 31 July 2025
Carrying amount
At 31 July 2025
At 31 July 2024		 Software
£
12,375
6,160
2,486
8,646
3,729
6,215

Amortisation is charged to support costs which is then allocated to raising funds and charitable expenditure based on the split of income received.

27

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

14 Tangible fixed assets
Group Freehold land and Plant and Fixtures and Computer Total
buildings equipment fittings equipment
£ £ £ £ £
Cost
At 1 August 2024 7,551,526 443,506 54,471 349,651 8,399,154
Additions 1,196 12,963 - 21,607 35,766
At 31 July 2025 7,552,722 456,469 54,471 371,258 8,434,920
Depreciation and impairment
At 1 August 2024 362,051 200,660 25,889 202,981 791,581
Depreciation charged in the year 148,662 52,812 1,959 65,382 268,815
At 31 July 2025 510,713 253,472 27,848 268,363 1,060,396
At 31 July 2025 7,042,009 202,997 26,623 102,895 7,374,524
At 31 July 2024 7,189,475 242,846 28,582 146,670 7,607,573

28

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

14 Tangible fixed assets (continued)
Charity
Cost
At 1 August 2024
Additions
At 31 July 2025
Depreciation and impairment
At 1 August 2024
Depreciation charged in the year
At 31 July 2025
At 31 July 2025
At 31 July 2024		 Freehold land
and buildings
£
Plant and
equipment
£
Fixtures and
fittings
£
Computer
equipment
£
Total
£
75,000
83,198
54,471
175,902
388,571
-
4,462
-
15,920
20,382
75,000
87,660
54,471
191,822
408,953
-
78,018
25,889
132,074
235,981
-
1,523
1,958
27,964
31,445
-
79,541
27,847
160,038
267,426
75,000
8,119
26,624
31,784
141,527
75,000
5,180
28,582
43,828
152,590

29

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

15 Fixed asset investments

Shares in
group
undertakings
£
Cost
At 1 August 2024 1
At 31 July 2025 1
Carrying amount
At 31 July 2025 1
At 31 July 2024 1
Newcastle United Foundation Projects Limited (company no: 10423688):
2025 2024
Summary Statement of Comprehensive Income £ £
Income 1,452,802 1,365,729
Expenditure (1,551,197) (1,394,191)
(98,395) (28,462)
Taxation 15,287 51,714
Net (loss)/profit after tax (83,108) 23,252
2025 2024
The assets and liabilities of the subsidiary were: £ £
Fixed assets 7,232,997 7,454,885
Current assets 1,074,901 763,055
Creditors: amounts falling due within one year (1,058,072) (571,029)
Creditors: amounts falling due after more than one year (7,279,786) (7,593,763)
Total net (liabilities)/assets (29,960) 53,148
Aggregated share capital and reserves (29,960) 53,148

30

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

16
Debtors
Amounts falling due within one year:
Trade debtors
Amounts due from group undertakings
Other debtors
Prepayments and accrued income
Amounts falling due after more than one
year:
Amounts due from group undertakings
Total debtors		 Group
2025
£
405,880
-
-
726,715
1,132,595
2025
£
-
1,132,595		 2024
£
242,087
-
10
910,513
1,152,610
2024
£
-
1,152,610		 Charity
2025
£
273,860
734,884
-
670,036
1,678,780
2025
£
954,925
2,633,705		 2024
£
197,229
158,017
10
844,194
1,199,450
2024
£
1,120,550
2,320,000

Amounts due from group undertakings represents an intercompany loan of £954,925 (2024: £1,120,550). The loan is due for repayment on 31 July 2027. Interest is charged at 2% above Bank of England base rate. The loan is secured over current and future property owned by the subsidiary.

17 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes
Trade creditors
Amounts due to Newcastle United Football Company
Limited
Other taxation and social security
Other creditors
Accruals
Deferred income
18		 Group
2025
£
44,077
2,339
164,662
32,037
206,193
328,104
777,412		 2024
£
147,821
5,994
111,192
29,010
120,446
509,855
924,318		 Charity
2025
£
28,112
2,339
116,824
19,129
161,229
231,151
558,784		 2024
£
101,584
5,994
82,609
16,102
108,446
380,120
694,855

31

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

18 Deferred income

Group
Balance as at 1 August
Released from previous years
Resources deferred in the year
Charity
Balance as at 1 August
Released from previous years
Resources deferred in the year		 2025
£
509,855
(493,189)
311,438
328,104
2025
£
380,120
(363,454)
214,485
231,151		 2024
£
513,241
(465,743)
462,357
509,855
2024
£
424,701
(391,367)
346,786
380,120

Deferred income includes income from Sage, Streetgames, Bernicia, Newcastle College, National Lottery, Newcastle Building Society and Newcastle City Council.

19 Retirement benefit schemes

Defined contribution schemes

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £93,572 (2024: £82,452). Contributions totalling £19,129 (2024: £16,102) were payable to the fund at the balance sheet date. These are held in other creditors.

32

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

20 Analysis of charitable funds

For the year ended 31 July 2025:

Group
Balance at 1
August 2024
£
Unrestricted funds
General funds
1,779,102
Designated funds – sinking fund
531,567
2,310,669
Restricted funds
Head office
602,281
Football development
51,900
Learning and Skills
107,458
Health
82,531
NUCASTLE capital
7,219,478
NUCASTLE operational
(346,632)
NU Futures 11-16
108,747
NU Futures 16+
723,073
Restricted funds
8,548,836
Total funds
10,859,505
Charity
Balance at 1
August 2024
£
Unrestricted funds
General funds
2,195,889
Designated funds – sinking fund
531,567
2,727,456
Restricted funds
Head office
921,458
Football development
(18,198)
Learning and Skills
12,838
Health
52,901
NUCASTLE capital
75,000
NU Futures 11-16
67,375
NU Futures 16+
349,474
Restricted funds
1,460,848
Total funds
4,188,304		 Movement in funds
Incoming
resources
Resources
expended
£
£
5,316,283(5,260,963)
- -

5,316,283 (5,260,963)

230,000
(17,327)
469,807
(557,939)
374,233
(499,149)
278,212
(352,144)
-
-

10,719
(40,633)
487,078
(442,468)
734,423
(652,674)
2,584,472 (2,562,334)
7,900,755
(7,823,297)
Movement in funds
Incoming
resources
Resources
expended
£
£
4,560,668
(4,208,997)
-
-
4,560,668 (4,208,997)
230,000
(14,020)
469,807
(565,687)
374,233
(452,222)
278,212
(353,699)
-
-
487,078
(446,090)
557,369
(513,358)
2,396,699 (2,345,076)
6,957,367 (6,554,073)		 Transfers
Balance at 31
July 2025
£
£
365,303
2,199,725
83,359
614,926
448,662
2,814,651
-
814,954
-
(36,232)
-
(17,458)
-
8,599
(148,662)
7,070,816
-
(376,546)
-
153,357
(300,000)
504,822
(448,662)
8,122,312
-
10,936,963
Transfers
Balance at 31
July 2025
£
£
216,641
2,764,201
83,359
614,926
300,000
3,379,127
-
1,137,438
-
(114,078)
-
(65,151)
-
(22,586)
-
75,000
-
108,363
(300,000)
93,485
(300,000)
1,212,471
-
4,591,598

33

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

20 Analysis of charitable funds (Continued)

Unrestricted funds

Unrestricted funds are available to be spent for any purposes of the group.

Designated funds

Designated funds were earmarked by the trustees during the year ended 31 July 2025 for future capital replacements.

Restricted funds

Restricted funds are those funds where the income received is restricted to provide specific programmes and activities within the wider programme of the Foundation. This includes donations received for specific purposes and grants received for the provision of specific programmes. Restricted funds have been split by charitable activity with further details below.

Football and sports development

Participative football coaching for children and young adults with a focus on underrepresented areas such as disability football and women and girls’ football.

Learning and Skills

Inspiring primary school children to learn, be active and develop important life skills through physical education, numeracy and literacy and character development.

Health

A range of physical and mental wellbeing programmes including walking football for over 50s and ‘Be a Game Changer’ which is a mental health campaign targeted at male football fans.

NU Futures 11-16

Projects with a focus on increasing aspirations through learning and skills based activity in a classroom and on the pitch for 11 to 16 year olds. Includes targeted intervention for those who are disengaged from education.

NU Futures 16+

An inspirational and engaging programme for young people aged 16 to 25 who face disadvantages and specific barriers to a fulfilling future career.

A transfer has been made to reflect the income received in respect of two grants which were previously classified as restricted but which the provider has confirmed are actually unrestricted.

NUCASTLE

The state-of-the-art hub from which members of the community engage in sport, develop skills, achieve qualifications, build confidence and progress in further training or employment.

The annual transfer between restricted and unrestricted funds represents the quantum of depreciation charged during the period on the fixed assets held within restricted funds.

There is a shortfall on the NUCASTLE operational fund which is expected due to the facility being in its early years of operation. However, commercial income is increasing due to higher demand for the facilities, more tailored offerings and enhanced marketing campaigns.

34

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

20 Analysis of charitable funds (Continued)

For the year ended 31 July 2024:

Analysis of charitable funds (Continued)
For the year ended 31 July 2024:
Group
Balance at 1
August 2023
£
Unrestricted funds
General funds
1,438,988
Designated funds
60,544
1,499,532
Restricted funds
Head office
381,064
Football development
130,838
Learning and Skills
140,410
Health
125,928
NUCASTLE capital
7,964,536
NUCASTLE operational
(241,420)
NU Futures 11-16
129,566
NU Futures 16+
595,181
Restricted funds
9,226,103
Total funds
10,725,635		 Movement in funds
Incoming
resources
Resources
expended
£
£
4,819,204
(4,753,125)
-
-
4,819,204
(4,753,125)
236,000
(14,783)
488,450
(567,388)
342,511
(375,463)
355,351
(398,748)
-
-
161,401
(266,613)
151,911
(172,730)
849,608
(721,716)
2,585,232
(2,517,441)
7,404,436
(7,270,566)		 Transfers
Balance at
31 July 2024
£
£
274,035
1,779,102
471,023
531,567
745,058
2,310,669
-
602,281
-
51,900
-
107,458
-
82,531
(745,058)
7,219,478
-
(346,632)
-
108,747
-
723,073
(745,058)
8,548,836
-
10,859,505
2,310,669
602,281
51,900
107,458
82,531
7,219,478
(346,632)
108,747
723,073
8,548,836
10,859,505

35

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

20 Analysis of charitable funds (Continued)

Analysis of charitable funds (Continued)
Charity
Balance at 1
August 2023
£
Unrestricted funds
General funds
1,219,121
Designated funds
60,544
1,279,665
Restricted funds
Head office
697,479
Football development
84,492
Learning and Skills
53,404
Health
103,268
NUCASTLE capital
1,254,865
NU Futures 11-16
76,957
NU Futures 16+
327,236
Restricted funds
2,597,701
Total funds
3,877,366		 Movement in funds
Incoming
resources
Resources
expended
Transfers Balance at 31
July 2024
£
£
£
£
4,175,960
(3,908,034)
708,842
2,195,889
-
-
471,023
531,567
4,175,960
(3,908,034)
1,179,865
2,727,456
236,000
(12,021)
-
921,458
488,450
(591,140)
-
(18,198)
351,497
(392,063)
-
12,838
355,351
(405,718)
-
52,901
-
-
(1,179,865)
75,000
151,911
(161,493)
- 67,375
707,287
(685,049)
-
349,474
2,290,496
(2,247,484)
(1,179,865)
1,460,848
6,466,456
(6,155,518)
-
4,188,304
2,727,456
921,458
(18,198)
12,838
52,901
75,000
67,375
349,474
1,460,848
4,188,304

36

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

21 Analysis of group net assets between funds

For the year ended 31 July 2025:

Unrestricted Restricted Restricted Total
funds funds capital funds
general NUCASTLE
Group £ £ £ £
Tangible fixed assets 303,708 - 7,070,816 7,374,524
Intangible fixed assets 3,729 - - 3,729
Net current assets 2,507,214 1,051,496 - 3,558,710
2,814,651 1,051,496 7,070,816 10,936,963
Charity
Tangible fixed assets 66,527 - 75,000 141,527
Intangible fixed assets 3,729 - - 3,729
Investments 1 - - 1
Net current assets 3,308,870 1,137,471 - 4,446,341
3,379,127 1,137,471 75,000 4,591,598
For the year ended 31 July 2024:
Restricted Restricted
funds capital funds
Unrestricted general NUCASTLE Total
funds
Group £ £ £ £
Tangible fixed assets 388,095 - 7,219,478 7,607,573
Intangible fixed assets 6,215 - - 6,215
Net current assets 1,916,359 1,329,358 - 3,245,717
2,310,669 1,329,358 7,219,478 10,859,505
Charity
Tangible fixed assets 77,590 - 75,000 152,590
Intangible fixed assets 6,215 - - 6,215
Investments 1 - - 1
Net current assets 2,643,650 1,385,848 - 4,029,498
2,727,456 1,385,848 75,000 4,188,304

37

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

22
Cash generated from operations
Net income for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation of tangible fixed assets
Amortisation of intangible assets
Movements in working capital:
Decrease in debtors
Increase/(decrease) in creditors
Decrease in deferred income
Cash generated from/(used in) operations		 2025
£
77,458
(86,707)
268,815
2,486
20,015
34,845
(181,751)
135,161		 2024
£
133,870
(79,968)
269,292
2,486
61,473
(524,676)
(3,388)
(140,911)

23 Operating lease commitments

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between one and five years
In over five years		 2025
£
2,500
10,000
217,500
230,000		 2024
£
7,353
10,000
220,000
237,353

The operating lease commitments relate to a lease of vending machines and Lemington Sports Ground. The vending machines lease is for a period of 3 years and the Lemington Sports Ground lease is negotiated over the term of 99 years and rentals are fixed for 5 years.

38

NEWCASTLE UNITED FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

24 Related party transactions

The trustees consider that Newcastle United Limited and its subsidiary Newcastle United Football Company Limited (NUFC) are related parties of the charity by virtue of significant influence.

The charity receives substantial in-kind support from NUFC, in particular the licence to use the Club's brand and right to use the playing facilities at the first team training centre. The impact on the charity, were these facilities not to be made available free of charge, would be hugely significant in both operational and financial terms.

NUFC is also a significant donor to the charity, through other quantifiable gifts in kind such as complimentary and discounted match day tickets and hospitality, matchday advertising and staff resources, all of which amounted to £666,700 (2024: £714,941).

During the year, NUFC made a donation amounting to £317,822 (2024: £201,597). This is NUFC’s contribution to NUF’s staff remuneration package and the reduction represents a move away from reliance on the one-off annual bonus to externally benchmarked salary levels from 24/25. The charity also received fees from NUFC of £75,000 (2024: £75,000).

Other payments made by the charity to NUFC during the year amounted to £269,609 (2024: £275,745) including stadium tours, match tickets for resale, together with recharges of costs incurred on the charity's behalf, including IT costs, staff time, telephone usage and office supplies.

During the year Newcastle United Foundation made payments to its wholly owned subsidiary Newcastle United Foundation Projects Limited of £210,346 (2024: £193,603) for recharges of rent and received income from Newcastle United Foundation Projects Limited relating to a management charge of £77,948 (2024: £76,766). During the year, salaries were recharged from employees of Newcastle United Foundation to Newcastle United Foundation Projects Limited for a total of £711,210 (2024: £496,986). At the year end the outstanding loan balance between the companies was £954,925 (2024: £1,278,567) and interest payable to the charity on this loan totalled £70,479 (2024: £85,443).

25 Volunteers

Newcastle United Foundation has volunteers who gave their time across all foundation programmes. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. The current headcount is 25 (2024: 15) volunteers.

39