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2025-06-30-accounts

Charity registration number 1125817 (England and Wales) Company registration number 06333232

READING FC COMMUNITY TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

READING FC COMMUNITY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr P Batth Mr K Carder Mr N Coupe Ms J Evans Mr S Gomarsall Mrs D Hall Ms F Price Mr A Tow Mr J Jacobson Charity number (England and Wales) 1125817 Company number 06333232 Registered office Select Car Leasing Stadium Junction 11 M4 Reading RG2 0FL Auditor BK Plus Audit Limited Oakingham House Frederick Place High Wycombe Buckinghamshire HP11 1JU Bankers HSBC Bank Plc 26 Broad Street Reading Berkshire RG1 2BU Solicitors Bates Wells Braithwaite 10 Queen Street Place London EC4R 1BE

(Appointed 20 March 2026) (Appointed 1 July 2024) (Appointed 1 February 2025) (Appointed 30 September 2025) (Appointed 1 October 2025)

READING FC COMMUNITY TRUST

CONTENTS

Page
Trustees' report 1 - 6
Statement of Trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report and financial statements for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The charity’s objectives as set out in the constitution are to assist in advancing education, to promote or assist in promoting community participation in healthy recreation, to provide or assist in the provision of facilities for recreation, to provide or assist in the interest of social welfare and with the object of improving the conditions of life for those whom the facilities are provided, to relieve sickness and disability and to preserve and protect health, and to promote any other purpose which is charitable according to English Law.

The aim of the charity is to have a positive influence on young people and the wider community through football and is expressed through its logo ‘Care Develop Educate’.

The Trust also makes pledges to its local community. These are as follows:

1. Pledge to young people:

2. Pledge to the community:

3. Pledge to those existing and potential partners:

In furtherance of these aims the charity undertakes a variety of activities with children and young people within three main streams of activity:

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Schools Programme

The charity works very closely with the schools in its area, bringing football, healthy lifestyles and education programmes into schools, using football as a vehicle to drive the importance of education and other life skills. A number of these activities are free to participants with some of them requiring fees to attend activities.

Out of school activities

The charity runs a series of coaching and training sessions for boys and girls that are run in the evenings, weekends and school holidays.

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Social Inclusion

The charity runs a series of activities for young people between the ages of 12 to 19, including those who are not in education, employment or training (NEET), offenders/ex-offenders or educational under-achievers:

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

The charity delivers sessions and projects under the EDI (Equality, Diversity and Inclusion) department in conjunction with other charities, groups, disability organisations, the football club and our main two external stakeholders – PLCF (Premier League Community Fund) and EFLT (English Football League Trust).

Activities include:

These activities are supported by grant funding allowing free participation.

The Trust staff have also delivered the following courses/activities to our local community:

Public Benefit

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in the planning and operations of all its current and future activities. In particular, the Trustees have given due regard to public benefit when setting the level of fees to participate in activities.

Accordingly, the Trustees consider that they have complied with the duty (set out in Section 17(3) of the Charities Act 2011) to have due regard to public benefit guidance published by the Commission. The entity remains a public benefit entity as defined by FRS 102.

Achievements and performance

Financial review

During the year the charity raised a total of £2,422,757 (2024: £2,139,708) to pursue its activities.

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Reserves policy

The Trustees recognise the importance of maintaining adequate reserves to support the financial stability of Reading FC Community Trust and to ensure the continued delivery of services to the communities it serves.

In establishing this policy, the Trustees have considered the Charity Commission's guidance Charity reserves: building resilience (CC19), alongside best practice within the EFL Trust network. The policy reflects the Trust's reliance on grant and contract income, its core staffing cost base, and the financial risks associated with income uncertainty and changes in funding arrangements. The Trustees have agreed that the Trust should aim to maintain cash reserves equivalent to approximately three months of core operating expenditure. Core operating costs are defined as average monthly staffing costs and facility-related expenses. This level of reserves is considered sufficient to:

At the year end, the Trust held cash reserves of £508,789, representing approximately 3.5 months of core operating expenditure. The Trustees consider this level to be marginally above the target range and appropriate given the Trust's financial position and risk profile at the reporting date.

The level of reserves is kept under regular review by the Board as part of ongoing financial monitoring and the annual budget-setting process. Any significant use of reserves requires Trustee approval, and where appropriate, a plan will be agreed to replenish reserves over time.

Plans for future periods

The Trust will continue with the existing programmes, as well as with new initiatives including:

Structure, governance and management

The charity is constituted as a company limited by guarantee, not having a share capital and is governed by a memorandum and articles of association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr P Batth

Mr K Carder (Appointed 20 March 2026) Mr N Coupe Ms J Evans (Appointed 1 July 2024) Mr S Gomarsall (Appointed 1 February 2025) Mrs D Hall Ms F Price (Appointed 30 September 2025) Mr A Tow Mr S Cooke (Resigned 30 October 2025) Mr D Downs (Resigned 25 March 2026) Mr S Hussain (Resigned 1 September 2024) Mr G Odell (Resigned 1 August 2025) Mr A Reaney (Resigned 29 September 2024) Mr J Jacobson (Appointed 1 October 2025)

READING FC COMMUNITY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

The sole member of the charity is Reading Football Club Limited. The member undertakes to contribute a sum not exceeding £1 to the assets of the charity if the charity is wound up whilst a member, or within 12 months of ceasing membership.

The trustees are appointed by the member. New trustees are selected on the basis of the skills and experience they have and receive induction from existing trustees as required.

At the reporting date, the charity had 53 permanent and 46 casual members of staff.

The trustees met 4 times during the year to decide on policy and procedure. The day to day management of the charity is undertaken by the charity’s general manager.

The charity occupies premises and uses furniture and equipment that belongs to Reading Football Club. The charity makes a financial contribution to Reading Football Club to cover costs.

Auditor

BK Plus Audit Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

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

.............................. Mrs D Hall

Trustee

Date: .............................................

READING FC COMMUNITY TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2025

The Trustees, who are also the directors of Reading FC Community Trust 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.

READING FC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF READING FC COMMUNITY TRUST

Opinion

We have audited the financial statements of Reading FC Community Trust (the ‘Charity’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet, the 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 Financial Reporting Standard 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 Charity 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 Charity’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 annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

READING FC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF READING FC COMMUNITY TRUST

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the Charity for the purpose 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 Charity’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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

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

From the preliminary stage of the audit, we ensure our understanding of the entity is up to date. This includes, but is not limited to, current knowledge of their activities, the entity and control environments, and their compliance with the applicable legal and regulatory frameworks. This information supports our risk identification and the subsequent design of audit procedures to mitigate those risks; ensuring that the audit evidence obtained is sufficient and appropriate to support our opinion.

In response to the risks identified, specific to this entity, we designed procedures which included, but were not limited to:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusions. There is always the unavoidable risks that material misstatements in the financial statements may not be detected despite the audit being properly performed in accordance with UK Auditing standards.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

READING FC COMMUNITY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF READING FC COMMUNITY TRUST

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

David Hynes (Senior Statutory Auditor)

For and on behalf of BK Plus Audit Limited, Statutory Auditor

Date: ......................... Oakingham House Frederick Place High Wycombe Buckinghamshire HP11 1JU

READING FC COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
30,615
-
Charitable activities
4
1,833,104
457,601
Other trading activities
5
93,558
-
Investments
6
7,879
-
Total income
1,965,156
457,601
Expenditure on:
Raising funds
7
65,007
-
Charitable activities
8
1,816,049
447,401
Total expenditure
1,881,056
447,401
Net income and movement in funds
84,100
10,200
Reconciliation of funds:
Fund balances at 1 July 2024
661,172
17,115
Fund balances at 30 June 2025
745,272
27,315		 Total
2025
£
30,615
2,290,705
93,558
7,879
2,422,757
65,007
2,263,450
2,328,457
94,300
678,287
772,587		 Total
2024
£
70,270
2,017,228
52,210
-
2,139,708
73,449
2,061,571
2,135,020
4,688
673,599
678,287

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 27 form part of these financial statements.

READING FC COMMUNITY TRUST

BALANCE SHEET

AS AT 30 JUNE 2025

2025
Notes
£
Fixed assets
Tangible assets
14
Current assets
Debtors
15
188,246
Cash at bank and in hand
508,789
697,035
Creditors: amounts falling due within
one year
16
(383,716)
Net current assets
Total assets less current liabilities
The funds of the Charity
Restricted income funds
18
Unrestricted funds
19		 2024
£
£
459,268
163,333
569,380
732,713
(538,189)
313,319
772,587
27,315
745,272
772,587		 £
483,763
194,524
678,287
17,115
661,172
678,287

The notes on pages 14 to 27 form part of these financial statements.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

..............................

Mrs D Hall Trustee

Company registration number 06333232 (England and Wales)

READING FC COMMUNITY TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
23
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from/(used in) investing
activities
Net cash generated from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(2,709)
7,879		 2024
£
£
£
(65,761)
12,027
(405,704)
-
5,170
(405,704)
-
-
(60,591)
(393,677)
569,380
963,057
508,789
569,380

The notes on pages 14 to 27 form part of these financial statements.

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

Reading FC Community Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Select Car Leasing Stadium, Junction 11, M4, Reading, RG2 0FL.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charity is a Public Benefit Entity as defined by FRS 102.

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 £.

The financial statements have been prepared under the historical cost convention The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors 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.

1.4 Income

Income is recognised when the Charity 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 Charity 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 is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Leasehold improvements 21 years straight line Fixtures and fittings 10 years straight line Motor vehicles 4 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 the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Charity 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).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity 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.

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.

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

1.10 Employee benefits

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

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

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

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

2 Critical accounting estimates and judgements

In the application of the Charity’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.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charity’s general charitable objectives and have not been subject to specific restrictions imposed by donors.

Restricted funds comprise funds subject to specific conditions imposed by donors or grant-making bodies as to how the funds may be used. The Trustees exercise judgement in determining whether incoming resources give rise to a restricted fund and in allocating expenditure to those funds in accordance with the relevant restrictions. The purpose and use of each restricted fund are set out in the notes to the financial statements.

The Trustees consider that funds have been appropriately classified and applied in accordance with the terms of the relevant funding agreements at the reporting date.

Fixed asset impairment

The trustees assess whether there are indicators of impairment of fixed assets at each reporting date. Where required, the recoverable amount of the relevant cash-generating units is determined as the higher of value in use and fair value less costs to sell, and compared to the carrying value. The assessment involves estimates of future cash flows and market-based assumptions. Changes in these assumptions could result in a material adjustment in future periods.

Bad debt provision

Judgement is required in assessing the recoverability of trade and other receivables and determining the appropriate level of impairment provision. This assessment considers the age of balances, counterparty credit risk and the status of any disputes or recovery actions. Actual recoveries may differ from estimates.

Depreciation and useful lives

Estimates are required in determining the useful economic lives of fixed assets for depreciation purposes. Changes in estimates could result in a material adjustment to charges in future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 30,615 35,270
Grants - 35,000
30,615 70,270

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

Income from donations and legacies (Continued)
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts
Donations from institutions 20,735 16,494
Donations from individuals 9,880 18,776
30,615 35,270
Grants
English Football League Trust - 35,000
- 35,000
Income from charitable activities
Unrestricted Restricted Total Total
funds funds
2025 2025 2025 2024
£ £ £ £
Schools programme
Services provided under contract 228,507 - 228,507 225,685
Performance related grants 4,667 144,726 149,393 164,050
Other income - - - 10,044
Out of school activities
Services provided under contract 548,853 - 548,853 396,967
Performance related grants 28,312 100,227 128,539 2,950
Other income 4,168 - 4,168 -
Social inclusion
Services provided under contract 953,309 - 953,309 1,046,448
Performance related grants 63,267 212,648 275,915 166,783
Other income 2,021 - 2,021 4,301
1,833,104 457,601 2,290,705 2,017,228

3 Income from donations and legacies

4 Income from charitable activities

The charity has chosen to show its charitable income split into its three main activities. This analysis is shown above and includes both restricted and unrestricted income.

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Golden Gamble 25,638 24,589
Mascots 11,020 9,035
Birthday parties - 9,612
Training courses 56,900 8,974
Other trading activities 93,558 52,210

6 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 7,879 -
Expenditure on raising funds
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising and publicity
Training courses 26,898 12,257
Golden Gamble 20,373 31,334
Mascots 13,252 13,014
Birthday parties - 12,839
Support costs 4,484 4,005
65,007 73,449

7 Expenditure on raising funds

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

8 Expenditure on charitable activities

9 Schools
programme
2025
£
Direct costs
Staff costs
288,444
Depreciation and impairment
-
Direct costs
9,353
297,797
Support
24,248
322,045
Analysis by fund
Unrestricted funds
177,319
Restricted funds
144,726
322,045
Support costs allocated to activities
Staff costs
Travel and subsistence
Printing, postage and stationery
Telephone
IT support
Legal and professional
Project sundries
Training, kit and other staff costs
Other costs
Governance costs
Analysed between:
Fundraising
Charitable activities
Schools programme
Out of school activities
Social inclusion		 Out of
school
activities
2025
£
530,814
-
280,169
810,983
23,881
834,864
748,727
86,137
834,864
Notes
7
8
8
8		 Social
inclusion
2025
£
867,184
27,204
134,431
1,028,819
77,722
1,106,541
890,003
216,538
1,106,541		 Total
2025
£
1,686,442
27,204
423,953
2,137,599
125,851
2,263,450
1,816,049
447,401
2,263,450
2025
£
-
1,522
11,690
7,105
34,522
24,623
2,055
3,843
30,801
14,174
130,335
4,484
24,248
23,881
77,722
130,335		 Total
2024
£
1,590,751
11,743
346,669
1,949,163
112,408
2,061,571
1,731,678
329,893
2,061,571
2024
£
51,928
2,804
4,333
688
1,167
2,781
3,495
7,425
29,265
12,527
116,413
4,005
21,658
21,330
69,420
116,413

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

9
Support costs allocated to activities
Governance costs comprise:
Audit fees
Accountancy
Other professional fees
10
Net movement in funds
The net movement in funds is stated after charging:
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other financial services
Depreciation of owned tangible fixed assets		 (Continued)
2025
2024
£
£
8,000
12,527
2,700
-
3,474
-
14,174
12,527
2025
2024
£
£
8,000
12,527
2,700
-
27,204
11,743		 (Continued)
2025
2024
£
£
8,000
12,527
2,700
-
3,474
-
14,174
12,527
2025
2024
£
£
8,000
12,527
2,700
-
27,204
11,743
12,527
2024
£
12,527
-
11,743

11 Trustees

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

No expenses were paid on behalf of trustees nor reimbursed to them (2024: £nil).

During the year, the charity received income of £975 from entities in which certain trustees are directors.

12 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Permanent staff 53 43
Casual coaches and staff 42 44
Total 95 87

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

12 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 1,556,001 1,496,692
Social security costs 107,808 119,270
Other pension costs 22,633 26,717
1,686,442 1,642,679
The number of employees whose annual remuneration was more than £60,000 is as follows:
2025 2024
Number Number
Within the range of £60,000 - £69,999 - 1
Within the range of £80,000 - £89,999 2 1
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 167,717 153,289

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

14
Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
£
£
Cost
At 1 July 2024
481,766
31,160
Additions
-
2,709
At 30 June 2025
481,766
33,869
Depreciation and impairment
At 1 July 2024
8,756
20,407
Depreciation charged in the year
22,941
4,263
At 30 June 2025
31,697
24,670
Carrying amount
At 30 June 2025
450,069
9,199
At 30 June 2024
473,010
10,753
15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 Motor
vehicles
£
13,520
-
13,520
13,520
-
13,520
-
-
2025
£
168,711
976
18,559
188,246
2025
£
17,578
42,758
11,426
311,954
383,716		 Total
£
526,446
2,709
529,155
42,683
27,204
69,887
459,268
483,763
2024
£
122,789
976
39,568
163,333
2024
£
-
56,175
10,743
471,271
538,189

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

17 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 22,633 26,717

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

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 July 2024
Incoming
resources
Resources
expended
At
£
£
£
School Programmes
-
144,726
(144,726)
Out of School Activities
-
100,227
(86,137)
Social Inclusion
10,494
212,648
(216,538)
Capacity building
6,621
-
-
17,115
457,601
(447,401)
Previous year:
At 1 July 2023
Incoming
resources
Resources
expended
At
£
£
£
Out of school activities
-
2,950
(2,950)
Schools programme
-
164,050
(164,050)
Social inclusion
6,604
166,783
(162,893)
Capacity building
6,621
-
-
13,225
333,783
(329,893)		 30 June
2025
£
-
14,090
6,604
6,621
27,315
30 June
2024
£
-
-
10,494
6,621
17,115

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

18 Restricted funds

(Continued)

The descriptions below relate to the charity’s significant restricted funds.

Schools Programme

The Schools Programme restricted fund relates to funding received to deliver football-based education, health and wellbeing activities within local primary and secondary schools. Funds are restricted to the provision of structured coaching sessions, curriculum-linked physical education support, educational workshops, mentoring and targeted intervention programmes delivered in collaboration with schools, in accordance with the conditions imposed by the funders.

Out of School Activities

The Out of School Activities restricted fund represents funding received to support football and multi-sport provision for children and young people outside of formal school hours. Funds are restricted to the delivery of organised coaching sessions, soccer schools and structured participation activities delivered during evenings, weekends and school holidays, with the objective of increasing access to sport, skills development and healthy lifestyles.

Social Inclusion

The Social Inclusion restricted fund comprises funding received to deliver targeted programmes for young people aged 12 to 19, including those Not in Education, Employment or Training (NEET), offenders or ex-offenders, and educational under-achievers. Funds are restricted to the provision of mentoring, alternative education provision, personal development initiatives and community-based inclusion programmes delivered in line with funder-specified objectives.

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
Info Bus
Classroom
Activities
General funds
Total unrestricted funds
Previous year:
At 1
Info Bus
Classroom
General funds		 July 2024
Incoming
resources
Resources
expended
At 30 June
2025
£
£
£
£
23,100
-
-
23,100
7,022
-
-
7,022
-
10,000
(6,215)
3,785
631,050
1,955,156
(1,874,841)
711,365
661,172
1,965,156
(1,881,056)
745,272
July 2023
Incoming
resources
Resources
expended
At 30 June
2024
£
£
£
£
23,100
-
-
23,100
9,362
-
(2,340)
7,022
627,912
1,805,925
(1,802,787)
631,050
660,374
1,805,925
(1,805,127)
661,172

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 30 June 2025:
Tangible assets
459,268
-
Current assets
286,004
27,315
745,272
27,315
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 June 2024:
Tangible assets
483,763
-
Current assets
177,409
17,115
661,172
17,115		 Total
2025
£
459,268
313,319
772,587
Total
2024
£
483,763
194,524
678,287

21 Operating lease commitments Lessee

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

Within one year
Between two and five years
In over five years		 2025
£
27,246
46,328
127,025
200,599		 2024
£
29,866
55,896
127,088
212,850

READING FC COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

22 Related party transactions

Transactions with related parties

During the year the Charity entered into the following transactions with related parties:

During the year, the charity received funds of £74,491 and made purchases of £8,600 from the sole member, The Reading Football Club Limited.

Controlling Party

The Reading Football Club Limited is the sole member of the Charity and, under the Charity’s governing trust document, has the power to appoint and remove the trustees. The Reading Football Club Limited is a company registered in England and Wales, with registered office at Select Car Leasing Stadium, Junction 11, M4, Reading, England, RG2 0FL.

While The Reading Football Club Limited is the sole member of the Charity, the Charity is governed by its trust deed, which restricts the application of the Charity’s income and property solely to the furtherance of its charitable objects. In accordance with the governing document, no part of the income or property of the Charity may be transferred, directly or indirectly, to The Reading Football Club Limited.

Accordingly, while The Reading Football Club Limited has certain membership and governance rights, it does not have the ability to obtain economic benefits from the Charity or to direct the Charity’s activities for its own economic benefit. On this basis, The Reading Football Club Limited does not control the Charity as defined by FRS 102.

Dogwood Football LLC, a company registered in the United States of America, is the ultimate parent undertaking of The Reading Football Club Limited. However, neither Dogwood Football LLC nor its ultimate owner exercises control over Reading FC Community Trust within the meaning of FRS 102.

23
Cash (absorbed by)/generated from operations
2025
£
Surplus for the year
94,300
Adjustments for:
Investment income recognised in statement of financial activities
(7,879)
Depreciation and impairment of tangible fixed assets
27,204
Movements in working capital:
(Increase) in debtors
(24,913)
(Decrease)/increase in creditors
(154,473)
Cash (absorbed by)/generated from operations
(65,761)		 2024
£
4,688
-
11,743
(41,886)
37,482
12,027