2023-06-30-accounts - Palace For Life Foundation

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		Page
Report ofthe Trustees	1	to	10
Report ofthe Independent Auditors	1i	to	13
Statement ofFinancial Activities		14
Balance Sheet	15	to	16
Cash Flow Statement		17
iVotes to the Cash Flow Statement		18
Notes to the Financial Statements	19	to	30
Detailed Statement ofFinancial Activities	31	to	32

						Report ofthe Trustees	Report ofthe Trustees
						for the year ended 30June 2023
Total participants				2022/23
Programme area Education, Training A Experience (KTE) —including Route to Employment						Project PL Inspires Game On Fmployability				Est unique participants 646 111
Targeted	interventions					Chances Divert				174 100
						Breaking the Cycle				50
						Young Londoners				24
National	Citizenship				Service (NCS)	Advantage Sum rner				30 237
						Autumn				75
Football	Development					School NCS Delivery Weekend				30 46
						Soccer Schools (holiday		courses)		],344
						Player Development Centre				946
						Girls (holiday courses)				169
						Roehampton UK based		students		35
						College academies				185
Primary	Schools					Barracudas PL Primary Stars				40 7,980
						Team Mates (PL 1nnovation			fund)	135
						Stepping Stones (Oasis		Arena)		93
						Other school activities	(eg after school)			392
Community		Engagement				PL/PFA Girls Primary PL Kicks "core"	(now		Wildcats)	115 1,205
						PL Kicks Women and Girls				466
						Refugee activities				10
						Asian engagement (Get		Involved)		450
						Women's Walking Footbag				36
						Women's Recreational	Football			27
						Men's Ws,lking Football				33
						Extra Time				29
Disability		football				Men's Recreational Football Disabi'lity (nutball			(Fitter Fans)	56 552
Family health			dk	well	being	Football for Health Croydon HAF				21 120
						Bromley I-IAF				80
						GRAND TOTAL				16,042

						2023	2022
			Unrestricted	Designated	Restricted	Total	Total
			fund	funds	funds	funds	funds
		Notes			f.
INCOME AND
ENDOW MENTS FROM
Donations, legacies and	other
operating income		3	341,910			341,910	341,503
Charitable activities
Sports Development Community Projects Fundraising Supporter Engagemen t			487,083 90,168 409,014	10,353	399,372 914,891 25,000	886,455 1.0]5,412 409,014 25,000	920,724 984,890 314,612 24,999
Investment income			2,336			27336	150
Total			I 330711	10.363	1.339263	2 660 127	2,586,878
EXPENDITURE ON
Charitable activities
Sports Development Community Projects Fundraising Supporter Engagement			477,688 98,649 158,546	152,965	490,103 1,127,083 257000	967,791 1.378,697 158,546 25,000	1,052,579 !.196,269 150,024 24,999
Total			734,883	152,965	1,642,186	2.530,034	2,423,871
Net loss on investments		14	~)2,307)			(12,307)
NET
INCOME/(EXPENDITIIRE) Transfers between funds		16	583,321 ~302,923)	(142,612)	(302,923) 302,923	137,786	163,007
Net movement in funds			280,398	(142,612)		137,786	163,007
RECONCILIATION	OF
FUNDS
Total funds brought forward			579,624	289,4101		869,025	7067018
TOTAL FUNDS CARRIED
FORWARD			660.022	)46,769		1,006,8 I I	869.025

						2023	2022
			Unrestricted	Designated	Restricted	Total	Total
		Notes	fund f	f'unds	funds	funds	funds
FlXED ASSE1S
Intangible assets Tangible assets 1nvestm ents		12 13 14	2,692 54,886 487,631			2,692 54,886 487,631	3,761 51,577
			545,209			545,209	55,338
CURRENT ASSETS
Debtors Investments Cash at bank		15 16	8],974 254,716 42],304	146,790		8],974 254,716 568,094	93,373 1,265,740
			7574994	I46,790		904,784	1,359,1 ]3
CREDITORS
Amounts falling due within	one
year		17	(443,182)			(443,182)	(545,426)
NET C(IRRENT ASSETS			314,812	146790		461 602	813.687
TOTAL ASSETSLESS
CURRENT I.IABlL'ITIES			860.021	146,790		1,006,811	869,025
NET ASSETS			860,021	146 790		I 006,811	869,025
FUNDS
Unrestricted funds;
Genera] fund Designated funds						860,02 I ]46,790	579,624 289,401
						1,006,811	869,025
TOTAL FI.INDS						1,006.811	869,025

			Cash Flow St a tern en t
			for the year ended 30June	2023
				2023	2022
			Notes
Cash flows from operating activities
Cash generated from operations				77,639	254 631
Net cash provided by operating activities				77,639	254,63l
Cash flows from investing	activities
Purchase of'tangible fixed assets Purchase offixed asset investments				(20,631) ~499,938	(22,228)
)5let cash used in investing	activities			~520,569)	~22.228)
Change in cash and cash	equivalents	in
the reporting period Cash and cash equivalents	at the			(442,930)	232,403
beginning ofthe reporting	period			1,265,740	l,033,337
Cash and cash equivalents	at the end	of
the repa rting period				822,850	1.265.740

ACTIVITIES	NET CASH	FLOW FROM	OPFRATING
Net income for the reporting Activities) Adjustments for:	period (as per the Statetnent	ofFinancial	2023 f 137,786	2022f 163,007
Depreciation charges Losses on investments Decrease/(increase) in debtors (Decrease)/increase in creditors			18,392 12,307 11,399 ~102,245	16,976 (48,727) 123,375
Net cash provided by operations			77,639	254,631

Net cash	Net cash	At 1.7.22 f	Cash flov	At 30.6,23
Cash at	bank and in hand	1,265,740	~697,646	568,094
		I 265,740	~697646	568,094
Liquid	resources
Current	asset investments		254,716	254,716
Total		1,265,740	5442.9307	822 810

					2023	2022
	Donations Grants				102,487 239,423	91,140 250,363
					341,910	341,503
	Donations comprise		the salary ofthe Chief Executive, which is funded		by Crystal Palace Football	Club.
	Grants received,	included		in the above, are as follows:
					2023	2022
	Premier League Other grants	Charitable		Fund	f. 231,500 7,923	f, 233,001 ]7,362
					239,423	250,363
4,	INVESTMENT	INCOME
	Interest received				2023f 2,336	2022 E I50

5,	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES
					2023	2022
	Sports Development Community Projects Fundraising income Supporter Engagement				886,455 1,015,4 12 409,014 25,000	920,724 984,890 314,612 24,999
					2,333,881	2,243 223
6.	CHARITABLE ACTIVITIES COSTS
					Support
				Direct	costs (see
	Sports Development Community Projects Fundraising Supporter Engagement			Costs f, 683,119 934,203 158,546 17,093	note 7) f 289,560 451,513 7,907	Totals f 972,679 1.385,716 158,546 25,000
				1,792,961	748,980	2 341.941
7.	SI!PPORTCOS1S
					Governance
				Managcmcnt	cos'ts	Totals
	Sports Development Community Projects Supporter Engageme~t			f 286,046 445,922 7,812	3.514 5,591 95	f 289,560 451,513 7,907
				739,780	9,200	748,980
8.	NET INCOME/(EXPENDITURE)
	Net incomc/(expenditure)		is stated atter charging:
	Auditors' remuneration Depreciation - owned Website development	assets costs amortisation			2023 9,200 17,322 1,069	2022f 9,400 15,480 1,495

were no trust STAF1 COSTS	es	expense	s paid for	the year	ended	30 Ju	ne 202	3	nor for the year ended 30	June 2022,
Wages and salaries Social security costs Other pension costs									2023 1,776,670 158,123 34,855	2022f 1,646,962 144,708 31,757
									1,969,646	1,823,427
The average tnonthly	number of		employees	during	the year was		as follows:
Management & Administration Coaching									2023 46 55	2022 44 47
									101	91
The number ofemployees		vihose	employee	benefits	(excluding		employer		pension costs) exceeded	f60,000 was:
f80.001 - f90,000									2023	2022
									1	1
The salary ofthe Chief Executive			is funded	by a donation		from	Crystal	Palace. Football Club.

COMPARATIVES FOR T	HE ST	ATEMEiV	T OF FINANCIA	L ACTIVITIE	S
			Unrestricted	Designated	Restricted	Total
INCOME AND ENDOWMENTS		FROM	fundf	funds f	funds f	funds f
Donattons, legacies and other	operating
income			341,503			341,503
Charitable activities
Sports Development Community Projects Fundraising Supporter Engagement			538,110 314,612	4,043	382,614 980,847 24,999	920,724 984.890 3145612 24,999
investment income			150			150
Total			1 194375	4,043	1,388,468	2,586 878
EXPEND(1URE ON
Charitable activities
Sports Development Community projects Supporter Engagement			572,390	14,642	480,189 ],181,627 24,999	1.052,579 1,196,269 24,999
Total			722 414	14,642	1,686,815	2423,871
VET INCOME/(EXPENDITI Transfers between funds	JRF)		471,961 ~469.4873	(10,599) 200,000	(298,355) 269,487	163,007
Vet movement in funds			2,474	189,401	(28,868)	163,007
RECONCILIATION OF FI&'DS
Total funds brought forward			577,150	100,000	28,868	706,018
TOTAL FiiNDS CARRIED	FORWARD		579,624	289,401		869,025

12.	for the year e INTANGIBLE FIXEDASSETS	nded 30June 2023
				Website
				development
				costs
	COST			f
	At I July 2022 and 30June 2023			11,160
	AMORTISATIOlV
	At 1 July 2022 Charge for year			7,399 1,069
	At 30June 2023
				8,468
	NET BOOK VAI.UE
	At 30 June 2023
				2,692
	At 30June 2022
				3,761
13.	TANGIBLE FIXEDASSETS
			Fixtures
		Plant and	arid
		machinery	fittings	Totals
	COST
	At 1 July 2022 Additions	86,745	20,630	107,375
		20,631		20,631
	At 30June 2023	107,376	20,630	128,006
	DEPRECIATIOPI
	At 1 July 2022 Charge for year	47,355 15,097	8,443 2,225	55,798 17,322
	At 30June 2023	62 452	10,668	73 120
	YETBOOK VALUE
	At 30June 2023	44,924	9,962	54,886
	At 30 June 2022	39,390	12,187	51,577

					2023	2022
Trade debtors Other debtors					58,213	43,983
Prepayments and	accrued income				750 23,011	49,390
					81,974	93,373
CltRRENT ASSETINVESTMFNTS
					2023	2022
Other					f
					254,716
Other investments	comprise	funds invested	in short-term	bank deposit accounts.
CREDITORS: AMOU)VTS		FALLING DI)E WITHIN		ONE YEAR
					2023	2022
Trade creditors Social security and other taxes Other creditors Deferred income Accrued expenses					E ]4,502 3,364 26,913 345,646 52,757	40,830 42,029 29,883 339,492 93 192
					443,182	545,426

			Net	Transfers
			movement	between	At
		At 1,7,22	in funds	funds	30.6.23
Unrestricted funds				f,	f.
General fund Designated funds		579,624 289401	583,320 (142,611)	(302,923)	860,021 146,790
Restricted funds		869,025	440,709	(302,923)	1,006,811
Community engagement Disability Primary schools Football courses Employment k resilience Targeted intervention	- general		(120,904) {15,247) (56,718) (18,766) (37,159) (54,129)	120,904 15,247 56,718 18,766 37,159 54,129
			i302 223)	302 923
TOTAL FIfNDS		869,025	137,786		1,006.811

	Incoming	Resources	Gains and	Movement
Iinrestricted funds	resources E	expended f	losses f	in hinds
General fund Designated funds	1,330,510 10,354	(734,883) (152,965)	(12,307)	583,320 (]42,6]1)
Restricted funds	1,340,864	(887,848)	(12,307)	440,709
Cominunity engagement - general Disabi]jty Primary schools Footbal! courses Emp]oyment &resilience Targeted intervention Supporter engagcincnt Family Health and Wel]being	464,]92 7],550 238,537 89,285 ]89,716 232,933 257000 287050	(585,096) (86,797) (295,255) (108,051) (226,875) (287,062) (25,000) ~28 050)		(]20,904) (]5,247) (56,718) (18,766) (37,159) (54,129)
	1,339,263	~),642, 186		~(302,923
TO1AL ] UNDS	2,680,127	(2,530034)	{12,307)	137,786

		]8]et	Transfers
		movement	between	At
	At 1,7.21	in funds f	funds	30.6.22
Unrestricted funds
General fund Designated funds	577,150 ]00,000	471,96] ~]0,599)	{469,487) 200,000	579,624 289,401
Restricted funds	677,150	461,362	(269,487)	869,025
Community engagement - general Disabi]ity Primary schools Footba.ll courses Employment &resilience Targeted intervention Fami'ly Ilealth and Wcl]being	23,225 5,643	(152,514) (12,221) (52,877) (32,477) (14,436) (25,651) ~8, )79)	129,289 ]2,22] 52,877 26,834 14,436 25,651 8,179
	28,868	(~298,355	269,487
TOTAL FI!NDS	706,018	163,007		869,025

MOVEMENT IN FIIND	MOVEMENT IN FIIND	S - continued
Comparative nct movement		in funds, included	in the above are as I'ollows:
					Incoming	Resources	lvlovement
Unrestricted funds					resources f	expended f	in funds
General fund Designated funds					1,194,375 4 043	(722,414) (14,642)	471,961 ~70,599)
Restricted funds					1,198,418	(737,056)	461.362
Community engagement -general Disability Primary schools Football courses Employment Ecresilience Targeted intervention Supporter engagement Family Ilealth and Wellbeing					574,067 60,000 252,365 70,249 184,548 148,362 24,999 73,870	(726,581) (72,221) (305,242) (102,726) (198,984) (174,013) (24,999) 182049)	(152.514) (12,221) (52,877) (32,477) (14,436) (251651) ~8179)
					1,388,460	~),686 815)	~298.'55
TOTAL FUIB)ASS					2,586.878	~2.423,87 1)	163,007
Cantmunity engagement		funds
Targeting young people pastoral support ta instil	in areas ofdeprivation. positive values and help			Free sessions prepare our	in football and other posilive activities, alongside participants far a better life.

PALACE FORI.I	PALACE FORI.I	FEFOUNDATION
Detailed Statement		ofFinancial Activities
	for the year ended 30June 2023
			2023f	2022 f.
INCOME AND ENDOWMENTS
Donations, legacies and other operating	income
Donations Grants			102,487 239,423	91,140 250,363
			341,910	341,503
Invest ment income
Interest received			2,336	150
Charitable activities
Sports Development Community Projects Fundraising income			886,455 1,015,412 434 014	920,724 984,890 339,611
			2,335,881	2,245,225
Total incoming resources			2,680,127	2,586,878
EXPENDITURE
Charitable activities
Wages Social security Pensions Direct costs			1,265,593 112,637 24,829 390,302	1,247,216 I09,585 24,049 420,578
			1,793,361	1,801,428
Support costs
Manag em ent
Wages Social security Pensions Insurance Telephone Postage and stationery Sundries Travel]ing Entertaining Computer expenses Cleaning Professional fees Bank charges Advertising Bad debts Computer software			511,077 45,486 10,026 670 23,226 4,469 17,352 3,174 5,014 35,638 1,304 46,560 2,22] 1,047 1,817 1,070	399,746 35,123 7,708 7,718 20,231 4,975 8,559 1,970 2,671 27,534 3,772 54,686 1,704 970 18,700 1,495
Depreciation			17,322	15,481
			727,473	613,043

			PALACE FOR LIFE FOUNDATION
			Detailed Statement ofFinancial Activities
			for the year ended 30June 2023
				2023	2022
Management				f	f
Governance		costs
Auditors'	remuneration			9,200	9,400
Total resources		expended		2,530,034	2,423,871
10tet income	before gains		and losses	150,093	163,007
Recognised	gainsRosses		on fixed asset itrvestments
O8ains/losses	on fixed asset investments			~22,307)
Net income				137,786	163.007