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← Oxford United In The Community

2024-06-30-accounts

OXFORD UNITED IN THE COMMUNITY

A COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED

30 JUNE 2024

The MGroup Partnership Chartered Certified Accountants C9 Glyme Court, Oxford Office Village Langford Lane, Kidlington, Oxford OX5 1LQ

Company Registration Number: 06621199 (England and Wales) Charity Registration Number: 1125173

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024

CONTENTS PAGES
Charity information 1 to 2
Report of the trustees 3 to 11
Independent examiner's report 12 to 13
Statement of financial activities 14
Balance sheet 15 to 16
Notes to the financial statements 17 to 27

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

CHARITY INFORMATION FOR THE YEAR ENDED 30 JUNE 2024

PATRONS

P Rhoades-Brown J Constable L Robinson

TRUSTEES

J D Faulkner I D Hudspeth S J Bradney N C McWIlliams K Parker G A Box-Turnbull M D Everett J P Green L M Gregory M R Lygo T M Williams

Resigned August 2024

Resigned February 2024 Resigned September 2023 Appointed November 2024 Appointed November 2024 Appointed November 2024 Appointed November 2024

CHAIR

J D Faulkner

VICE CHAIR

G A Box-Turnbull J P Green

Resigned February 2024 Appointed November 2024

TREASURER

K Parker

SECRETARY

The MGroup Secretarial Services Limited

SENIOR MANAGEMENT

C Lowes - Head of Charity T Tarby-Donald - Head of Charitable Activities M D Everett - CEO

Resigned October 2023 Appointed CEO effective January 2024

REGISTERED / PRINCIPAL OFFICE

The Kassam Stadium Grenoble Road Oxford OX4 4XP

COMPANY REGISTRATION NUMBER

06621199 (England and Wales)

CHARITY REFERENCE NUMBER

1125173

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

CHARITY INFORMATION FOR THE YEAR ENDED 30 JUNE 2024

INDEPENDENT EXAMINER

The MGroup Partnership Chartered Certified Accountants C9 Glyme Court Oxford Office Village Langford Lane Kidlington Oxford OX5 1LQ

SOLICITORS

Gateley PLC One Eleven Edmund Street Birmingham B3 2HJ

BANKERS

Barclays Bank PLC Cowley Oxford

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

The Trustees present their Annual Report (which also serves the purposes of both a Trustees' report and Directors' report under company law) for the year ended 30 June 2024 under the Charities Act 2011, 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) together with the independently examined financial statements for the year.

The comparative figures are for the year ended 30 June 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee under its Memorandum and Articles of Association. The company was incorporated on 16 June 2008 and became a registered charity on 24 July 2008.

The charity formally changed its legal name by Special Resolution dated 20 February 2019 from Oxford United FC Youth and Community Sports Trust to Oxford United in the Community.

Patrons: Peter Rhoades-Brown James Constable Les Robinson

Senior management:

Tim Tarby-Donald - Head of Charitable Activities (Interim Contract) Resigned October 2023 Chris Lowes - Head of Charity Matt Everett - CEO (Interim Contract) Appointed CEO effective January 2024

The trustees, who are also directors for the purpose of company law, and who served during the year are as follows:-

J D Faulkner I D Hudspeth S J Bradney N C McWIlliams Resigned August 2024 K Parker G A Box-Turnbull Resigned February 2024 M D Everett Resigned September 2023 J P Green Appointed November 2024 L M Gregory Appointed November 2024 M R Lygo Appointed November 2024 T M Williams Appointed November 2024

None of the trustees has any beneficial interest in the company.

All the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.

The charity is run by a Board of trustees who are responsible for the strategic direction of the organisation.

The trustees meet regularly to administer the charity.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT - continued

New trustees are recruited by direct invitation from the existing Board members and are identified either by the Board members or by referral to the Board.

In extending invitations account is taken of the skills present and needed around the Board table. New trustees are elected by the voting membership.

All trustees must be at least 18 years of age and capable of managing his or her own affairs. One third of the trustees must retire from office each year but may be reappointed if willing to stand.

The number of trustees shall be not less than three but shall not be subject to any maximum. A minimum one trustee must be a director or current CEO of Oxford United Football Club, with their presence required at meetings to form a quorum.

The charity works closely with Oxford United Football Club and is overseen and supported by the English Football League Trust (EFL Trust), the charitable arm of the English Football League (EFL) and the Premier League Charitable Fund (PLCF), the charitable arm of the Premier League.

TRUSTEE INDUCTION AND TRAINING

New trustees are briefed on their legal obligations and responsibilities under charity law. They are also encouraged to familiarise themselves with the charity's constitution. As part of the induction process, new trustees will meet key employees and other trustees and have access to a full induction provided by the EFL Trust.

RISK MANAGEMENT

The trustees are responsible for undertaking an annual risk assessment of the organisation and its activities. Any risks that the charity is exposed to would be discussed at general meetings as a matter of course.

LEGAL AND ADMINISTRATION INFORMATION

Further legal and administration information is provided on pages 1 and 2 of these accounts.

OBJECTIVES AND ACTIVITIES

The Charity's objects are for the benefit of the public generally and, in particular, the inhabitants of Oxfordshire and its surrounding areas:

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

PUBLIC BENEFIT

When planning the charity's activities for the year consideration has been given to the Charity Commission's guidance on public benefit and the Trustees are satisfied they meet the requirements.

Our Vision

Use the power of football and the Oxford United badge to inspire happier, healthier, better-connected communities across Oxfordshire.

The charity's main objectives are detailed in the new strategy for the period 2019-2024 “Oxfordshire – A Community United”:

1: Increase the social impact of the charity’s activities;

2: Increase the charity’s reach, supporting communities in 10 to 15 county town locations in addition to

Oxford City;

3: Sustainably grow the charity’s income to support an increased level of programme activities in an increased number of geographic locations;

4: Assure that the charity’s activities are based on a solid foundation of policies, processes and procedures supported by a physical and IT infrastructure, which will enable;

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

PUBLIC BENEFIT - continued

5: Create the conditions to establish a substantial multi-use sports, education and community facility as the official centre or Hub of activities for the charity in Oxford within five years.

ACHIEVEMENTS AND PERFORMANCE

INTRODUCTION

During the year under review, 1st July 2023 to 30th June 2024, the charity underwent a significant restructure at senior management level, to ensure it was a scalable operation that could further increase its social impact in subsequent years.

In order to do so, the trustees felt that the charity needed to align more strategically to Oxford United Football Club, and the EFL Trust, whilst ensuring it retained its independence and continued to focus on its charitable objectives.

Activities continued to be focused on four key pillars as per our objectives for public benefit;

Participation, Experiences & Opportunities Health & Wellbeing Social Inclusion Education & Employability

In a report by Substance commissioned by the EFL Trust, the social value delivered by the charity in 2023/24 rose 88% to £973,183 (2022/23 £517,532). This is a credit to the delivery team as this was achieved despite a significant reduction in income to £365,980 (2022/23 £460,626) which is explained in the finance section of this report.

You can read our full Impact Report for this period at https://www.ouitc.org/about/impact/

PARTICIPATION, EXPERIENCES & OPPORTUNITIES

Traditional ‘Football in the Community’ activities generate up to half of Oxford United in the Community revenue.

Our activities range from participants potential first steps into football at holiday camps, through to improving key skills through our skill centres and an Academy Pathway for promising young players via our Development Centre.

All courses are open to boys and girls, and we continue to run specific girls only camps and sessions.

Income from this activity increased in the second half of the financial year, with the addition of a third ‘spoke’ in Kidlington Youth FC, and running camps and activities there on a profit share basis, as we do already in Banbury at Easington Sports.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

ACHIEVEMENTS AND PERFORMANCE - continued

HEALTH & WELLBEING

Unfortunately, the funding for Fit Fans was not renewed for 2023/24, resulting in a drop in income but also the loss of our main Health & Wellbeing programme.

Despite this, we have partnered with the Joey Beauchamp Foundation, to support their aim of better mental health provision in Oxfordshire, which supports our charitable objectives.

We also continued to run our successful Manor Club for over 50’s, seeing increasing numbers each month accessing the provision.

SOCIAL INCLUSION

Funded by the Premier League Charitable Fund, our Premier League Kicks programme continued throughout 2023/24 in Oxford and Banbury and aims to inspire young people aged 8-18 in some of the most high-need areas of Oxfordshire.

Free and for all, regardless of ability or background, the programme, with support from our community partners, aims to make a positive difference for all young people who take part.

We were delighted to continue our disability football sessions in partnership with Abingdon & Witney College, with the side playing their first ever fixture against Northampton Town in January 2024.

This programme is part of the charity’s commitment to enhancing disability football provisions in Oxfordshire and is a programme which we hope to grow year-on-year.

Oxford Phoenix FC, our Refugee provision continued to be delivered jointly by Oxford United in the Community, Asylum Welcome and Refugee Resource to connect participants with like-minded individuals, help them develop key life skills and integrate them into the community.

EDUCATION & EMPLOYABILITY

We continued to run the Premier League Primary Stars programme, supported by PLCF funding, to engage primary school children in their school environment.

Through this programme, we deliver a range of activities; the physical delivery of PE lessons within the National Curriculum, extra-curricular clubs, PSHE workshops, Literacy and Numeracy support, as well as assemblies focusing on values and behaviours in the playground.

The main aim of the Premier League Primary Stars is to inspire and educate primary school pupils across all areas of the curriculum whilst using the power of football. As well as going into schools to deliver PE lessons, our team focuses on up-skilling staff and class teachers to deliver high-quality PE.

In addition, 26 participants were engaged in HMP Bullingdon as part of the Twinning Project, aiming to reduce reoffending rates and increase employability upon prisoner release.

20 prisoners graduated and were released with a coaching qualification that they did not hold prior.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

FINANCIAL REVIEW

During the period the charity received £365,980 income from the provision of football coaching and educational courses, grants, sponsorship and fundraising activities.

The costs incurred in carrying out the charity’s charitable objectives during the period amounted to £418,619 resulting in a net deficit of £52,639.

This was largely caused by the loss of two central funding pots, NCS and Fit Fans (£47,867), and local funding Divert (£32,932) whilst the operating costs increased slightly (2022/23 £406,165).

As part of the restructure, and in reaction to the loss of significant funding pots, the trustees decided to invest in the operational side of the charity, to ensure its long term sustainability and scalability.

RESERVES POLICY

Total fund balances of the charity as at the 30 June 2024 amounted to £101,077 (2023 £153,716). Included within this balance is £33,042 that relates to restricted funds that are not available for general purposes. The residual free reserves which are unrestricted total £68,035.

The charity’s policy on unrestricted reserves is to maintain equivalent cash balances:

The level of reserves is regularly monitored and reviewed by the trustees.

The cash balances at the year-end were below the target level of three months’ budgeted recurrent expenditure, however the trustees maintain that this is the level that they are working towards achieving.

The trustees consider that reserves at this level will ensure that, in the event of significant reduction in funding, they will be able to continue the trust’s current activities whilst consideration is given to ways in which additional funds may be raised.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

TRUSTEES' RESPONSIBILITY STATEMENT

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period.

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

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charity and that 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.

They are also responsible for the maintenance and integrity of the corporate and financial information included on the charity's website.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

PARTNERS

We are pleased to have worked with several delivery partners throughout 2023/24;

•Abingdon & Witney College •Active Oxfordshire •Asylum Welcome •Cherwell District Council •Cowley Workers Club •Easington Sports FC •EFL in the Community •Her Game Too •HMP Bullingdon •Joey Beauchamp Foundation •Kidlington Youth FC •Oxford Brookes University •Oxford Health NHS Foundation Trust •Oxford United Football Club •Oxford University •Oxfordshire County Council •Oxfordshire FA •Oxfordshire Youth •Premier League Community Foundation •Refugee Resource •St Edwards School •Thames Valley Police •The Hill Community Centre, Banbury •The Professional Footballers Association

•The Twinning Project

THANKS

All at Oxford United in the Community would like to thank;

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024

INVESTMENT POWERS AND POLICY

The trustees’ investment powers are laid down in the Constitution and restrictions contained therein. These powers are also subject to conditions imposed by law.

TRANSACTIONS WITH TRUSTEES

No member of the board of trustees received any remuneration or re-imbursement for expenses incurred during the period.

SPECIAL EXEMPTION

The above report is prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Prepared by the board of trustees and signed on their behalf by:-

Jeremy D Faulkner Signed on 26/03/25 @ 12:20

J D Faulkner Date: 2025-03-26 Chair of Trustees

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024

TO THE TRUSTEES OF OXFORD UNITED IN THE COMMUNITY

I report on the accounts of the trust for the year ended 30 June 2024 which are set out on pages 14 to 27.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

/continued…

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2024

INDEPENDENT EXAMINER'S UNQUALIFIED STATEMENT

In connection with my examination, no matter has come to my attention:

(a) to keep accounting records in accordance with section 386 of the Companies Act 2006, and

(b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 have not been met, or

(c) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

P D Smith (FCCA) For and on behalf of THE MGROUP PARTNERSHIP CHARTERED CERTIFIED ACCOUNTANTS C9 Glyme Court Oxford Office Village Langford Lane OX2 7JQ

26 March 2025

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2024

==> picture [523 x 477] intentionally omitted <==

----- Start of picture text -----
Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2024 2023
Notes £ £ £ £
INCOMING RESOURCES
Incoming resources from generated funds 7 146,507 2,200 148,707 197,979
Incoming resources from charitable activities 8 137,273 80,000 217,273 262,647
Total incoming resources 283,780 82,200 365,980 460,626
RESOURCES EXPENDED
Costs of generating funds 9 74 - 74 832
Charitable activities 10 260,993 78,210 339,203 362,338
Governance costs 11 79,342 - 79,342 42,995
Total resources expended 340,409 78,210 418,619 406,165
Net income / (expenditure) (56,629) 3,990 (52,639) 54,461
Net movement in funds (56,629) 3,990 (52,639) 54,461
Reconciliation of funds
Funds brought forward 124,664 29,052 153,716 99,255
Funds carried forward 68,035 33,042 101,077 153,716
----- End of picture text -----

All income and expenditure derives from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET AS AT 30 JUNE 2024

==> picture [509 x 369] intentionally omitted <==

----- Start of picture text -----
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 12 2,432 1,115
CURRENT ASSETS
Debtors 13 11,954 11,118
Cash at bank and in hand 134,937 158,739
146,891 169,857
CREDITORS : Amounts falling due 14 48,246 17,256
within one year
NET CURRENT ASSETS 98,645 152,601
NET ASSETS 16 101,077 153,716
INCOME FUNDS
Unrestricted income funds 68,035 124,664
Restricted income funds 33,042 29,052
TOTAL FUNDS 101,077 153,716
----- End of picture text -----

Registered Company Number: 06621199

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET AS AT 30 JUNE 2024

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and no notice has been deposited under section 476.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilties for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Signed on behalf of the board

Jeremy D Faulkner Signed on 26/03/25 @ 12:20

J D Faulkner

Approved by the board: 2025-03-26

Registered Company Number: 06621199

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 GENERAL INFORMATION

Oxford United in the Community is a trust limited by guarantee and incorporated in England and Wales. Its registered office is:

The Kassam Stadium Grenoble Road Oxford OX4 4XP

The financial statements are presented in Sterling, which is the functional currency of the company.

The charity is a public benefit entity.

2 STATEMENT OF ACCOUNTING POLICIES

Basis of preparation of financial statements

These financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing accounts in accordance with the Financial Reporting Standard 102 Section 1A smaller entities, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ("FRS 102"), the Companies Act 2006 and the Charities Act 2011.

Going concern

There is no material uncertainties about the charity's ability to continue. The Trustees have reviewed the position for the next 12 months and consider that the charity remains able to maintain the current levels of activity and discharge its liabilities in the normal course of business throughout this period.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2 STATEMENT OF ACCOUNTING POLICIES - continued

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Incoming resources represent income receivable from fundraising, donations and gifts, grants, sponsorship and the provision of services to the local community.

Donations and legacies are reported in the financial activities statement if they are received or due in the financial year.

Grants receivable are included in the period in which the offer is conveyed to the trust except in those cases where the offer has conditions, such grants being recognised as income when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the period end are not included in the financial statements.

Sponsorship income is recognised over the period to which the commitment has been made by the sponsor.

Resources expended

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for such expenditure, inclusive of any VAT which cannot be recovered.

Resources are expended in the furtherance of the charity's objectives.

Apportionment of charitable expenditure

Costs are apportioned between direct Charitable expenditure, Costs of generating funds and Governance costs according to the trustees' judgement.

Tangible fixed assets

Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.

Sports and computer equipment

Reducing balance basis at 25% per annum

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2 STATEMENT OF ACCOUNTING POLICIES - continued

Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment for financial assets measured at amortised cost, is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

2 STATEMENT OF ACCOUNTING POLICIES - continued

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

Pensions

The trust makes pension contributions under the auto enrolment provisions. The expenditure in respect of pension costs is the amount payable within the period. Differences between contributions payable and contributions actually paid in the period are shown as either accruals or prepayments in the balance sheet. The costs for this are split between restricted and unrestricted based on which individual is involved in the courses provided.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Being a registered charity, the charity is not liable to taxation on its income.

Fund accounting

Funds held by the trust are either:-

Unrestricted general funds - these are funds which can be used in accordance with the trust's objectives at the discretion of the trustees.

Designated funds - these funds represent monies set aside for specific purposes at the discretion of the trustees rather than the donors.

Restricted funds - funds received can only be used for specifically nominated expenditure by the donor and are credited to income in the year in which they are received. Where amounts are not specifically allocated against expenditure in that year the balance is deferred and added to the balance carried forward on the restricted funds reserve and is used in subsequent years in line with the restrictions placed by the donor.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

No significant accounting estimates and judgements have had to be made by the trustees in preparing these financial statements.

4 NET INCOMING RESOURCES

NET INCOMING RESOURCES
2024 2023
£ £
This is stated after charging:
Independent examination fees 5,460 3,950
Depreciation 549 372
TAXATION
The trust, being a registered charity, is not liable to taxation on its income.
STAFF COSTS
The average monthly number of employees during the year was:
Community team
Coaching staff
Staff costs during the year amounted to:
Wages and salaries
Social security costs
Pension contributions		 2024
Number
3
17
20
2024
£
216,092
11,105
5,216
232,413		 2023
Number
8
10
18
2023
£
244,519
15,874
5,715
266,108

5 TAXATION

6 STAFF COSTS

No trustees received any remuneration or other benefits during the year (2023 - £Nil). In addition, no trustee expenses have been incurred (2023 - £Nil).

No employees earned remuneration in excess of £60,000 or received any benefits in the current or preceding year.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

7 INCOMING RESOURCES FROM GENERATED FUNDS

£
Lottery
104
Other (including donations)
146,403
146,507
8
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
£
13,388
Coaching and educational courses
112,421
Sporting events
11,464
137,273
9
COST OF GENERATING FUNDS
Unrestricted expenditure:
£
74
74
Printing, postage and
stationery
Grants in relation to the provision of
coaching and educational courses
Basis of
apportionment
Equal allocation
Unrestricted
funds
Sponsorship
Unrestricted
funds		 £
-
2,200
2,200
£
80,000
-
-
80,000
£
-
-
Grants
Restricted
funds
Restricted
funds		 2024
Total
£
104
148,603
148,707
2024
Total
£
93,388
112,421
11,464
217,273
2024
Total
£
74
74		 2023
Total
£
104
197,875
197,979
2023
Total
£
171,871
82,366
8,410
262,647
2023
Total
£
832
832

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

10 CHARITABLE ACTIVITIES

Unrestricted expenditure
£
Staff salaries
164,613
Staff welfare
251
Community programme costs
579
Facility costs
45,226
Skill centre costs
4,606
Rent
5,345
IT support and consumables
758
Advertising and marketing
23,514
Motor and travel expenses
6,166
Insurance
76
Sundry
9,310
Depreciation
549
260,993
Restricted expenditure:
Staff salaries
67,800
Divert programme costs
-
NCS costs
-
Premier league kicks costs
5,826
4,584
Life Chances costs
-
78,210
339,203
Function and then
pro rata on income
Coaching services and
labour costs
Coaching and
educational
courses
Function and then
pro rata on income
Direct
Function and then
pro rata on income
Direct
Function and then
pro rata on income
Equal allocation
Direct
Direct
Basis of
apportionment
Function and then
pro rata on income
Function and then
pro rata on income
Direct
Direct
Direct
Basis of
apportionment
Function and then
pro rata on income
Pro rata on relevant
income
Direct
Direct		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Sporting
events		 2024
Total
£
164,613
251
579
45,226
4,606
5,345
758
23,514
6,166
76
9,310
549
260,993
67,800
-
-
5,826
4,584
-
78,210
339,203		 2023
Total
£
183,144
2,575
160
36,607
-
6,134
268
15,518
5,417
-
9,239
371
259,433
82,964
1,527
7,878
5,999
4,460
77
102,905
362,338

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

11 GOVERNANCE COSTS

Independent examination fees
Bank and merchant charges
Professional fees		 2024
£
11,843
(10)
67,509
79,342		 2023
£
5,520
254
37,221
42,995

In addition to the independent examination fee, £6,383 was also paid to the independent examiner for accountancy services.

12 TANGIBLE ASSETS

Costs £
Sports &
computer
equipment
At 1 July 2023 2,723
Additions 1,866
At 30 June 2024 4,589
Accumulated depreciation
At 1 July 2023 1,608
Charge for year 549
At 30 June 2024 2,157
Net book value
At 1 July 2023 1,115
At 30 June 2024 2,432

The net book value represents fixed assets used for direct charitable purposes.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

13 DEBTORS

Other debtors
Prepayments and accrued income
14 CREDITORS: amounts falling due within one year
Trade creditors
Taxation and social security
Accruals and deferred income		 2024
£
10,680
1,274
11,954
2024
£
276
3,767
44,203
48,246		 2023
£
10,480
638
11,118
2023
£
-
3,722
13,534
17,256

15 RELATED PARTY TRANSACTIONS

The Trust is assisted by Oxford United Football Club ('the Club') in being able to carry out its charitable activities and share many operational resources, have directors in common and are subject to common influence and are hence deemed related parties.

During the year, the Trust recharged expenses of £10,680 to the Club. At the year end, the Trust was owed £10,680 (2023 - £10,480) by the Club.

During the year, the trust used services provided by Fortitude Communications Limited. This company is controlled by one of the trustees of Oxford United in the Community. During the year Fortitude Communications Limited invoiced £24,648 (2023: £14,880). At the year end, there was nothing owed by the Club (2023: £NIL).

During the year, the Trust used services provided by Matt Everett. This was a retainer on a monthly basis. During the year the Trust was invoiced £58,053 (2023: £NIL). At the year end, there was nothing owed by the Club (2023: £NIL). Matt was previously a trustee until September 2023 and then became part of Senior Management in January 2024.

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Debtors
Cash at bank and in hand
Current liabilities		 £
2,432
11,954
66,395
(12,746)
68,035
Unrestricted
funds		 £
-
-
68,542
(35,500)
33,042
Restricted
funds		 Total
£
2,432
11,954
134,937
(48,246)
101,077

17 MOVEMENTS IN FUNDS

Unrestricted funds
Restricted funds		 124,664
29,052
153,716
As at 1
July 2023		 283,780
£
Incoming
resources
82,200
365,980		 £
(340,409)
(78,210)
(418,619)
Outgoing
resources		 Transfers
£
-
-
-
 £
68,035
33,042
101,077
As at 30
June 2024

18 PURPOSE OF RESTRICTED FUNDS

Restricted Funds were received primarily from the Premier League Charitable Fund:

OXFORD UNITED IN THE COMMUNITY A COMPANY LIMITED BY GUARANTEE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

19 SHARE CAPITAL

The trust does not have a share capital and is limited by guarantee. In the event of a winding up the trustees, who are all members of the company, guarantee to contribute £10 towards the costs of a winding up.

20 STATEMENT OF FINANCIAL ACTIVITIES - COMPARATIVE FIGURES BY FUND TYPE

INCOMING RESOURCES
Incoming resources from generated funds
Incoming resources from charitable activities
Total incoming resources
RESOURCES EXPENDED
Costs of generating funds
Charitable activities
Governance costs
Net movement in funds
Gross transfer between funds
Net movement in funds
Reconciliation of funds
Funds brought forward
Funds carried forward
Total resources expended		 Unrestricted
Funds
£
165,838
106,165
272,003
832
259,433
42,995
303,260
(31,257)
142,106
110,849
13,815
124,664		 Restricted
Funds
£
32,141
156,482
188,623
-
102,905
-
102,905
85,718
(142,106)
(56,388)
85,440
29,052		 Total
2023
£
197,979
262,647
460,626
832
362,338
42,995
406,165
54,461
-
54,461
99,255
153,716